Bank Islam Card (“BIC”) is the first purely Shariah contract based credit card to be offered to Muslims and non-Muslims in Malaysia. This card is completely free from any riba or gharar.
Riba is usually translated as “interest” which means an extra amount charged in transactions dealing with silver, gold or money. Gharar is defined as uncertainty or ambiguity. Be assured that neither riba nor gharar is attributable to the Bank Islam Card-i. The Shariah concept that is being used in the operations of BIC is Tawarruq.
Click here for more information