Gulf Bank Issues First Shariah Compliant Credit Card

East Africa’s first interest free credit card that adheres fully to Islamic principles of financing has been launched by the Gulf African Bank.

The credit card (AWWAL CREDIT CARD) is in line with the bank’s commitment to provide new and innovative products that focus on the special needs of the customers with competitive advantages.The card will strictly used to purchase halal goods and services, and will give customers the ability to adjust credit limit by up to Sh2 million and can be used worldwide at all visa accepted ATM points.

Some of the notable features on the AWAAL CARD;
NO interest
Fair Pricing
No compounded Fees
Safety measures protection for users using 3D features.

However, a fixed fee will be charged to customers for various services such as maintenance of the account, continued usage of the card, along with benefits such as discounts with partner institutions.

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    Written by Albert

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