In UK, an Islamic credit card without interest in 2024 is by definition a british Islamic Finance payment tool tailored to meet the needs of the British Muslim community by providing a credit facility that complies with Sharia law, thereby eliminating Riba (interest) and aligning with Islamic ethical standards.
In UK, the Islamic credit card without interest is essential for the British Muslim community as it enables them to participate in modern financial transactions without compromising their religious beliefs, fostering financial inclusion and supporting ethical banking practices within the country.
In the United Kingdom, the halal card without Riba offers functionalities such as interest-free credit periods, transparent fee structures based on Sharia-compliant models like Ujrah (service fees), and restrictions on transactions involving non-permissible (haram) goods and services, ensuring all usage aligns with Islamic principles.
In UK, an Islamic credit card without interest in 2024 requires eligibility criteria including being a United Kingdom resident, meeting the credit assessment standards set by the issuing Islamic financial institution, and agreeing to terms that uphold Sharia compliance, such as avoiding interest penalties and participating in ethical financial agreements.
Is there an Islamic credit card available in the UK?
Yes, the United Kingdom is one of the leading countries in the world when it comes to Islamic finance, and it offers a wide range of Islamic financial products, including Islamic credit cards.
The UK-based DND Finance has confirmed that its Score Mastercard credit card, which is aimed at businesses as well as consumers, is now certified as Shariah-compliant credit card.
Where can I apply for an Islamic Credit card in UK ?
The UK does have Islamic banks and financial institutions that offer various Shariah-compliant products, such as mortgages, savings accounts, and investment opportunities. While these institutions might not offer Islamic credit cards directly, they might be a good starting point to inquire or get guidance.
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