Muslims always say that their divine religion, always present solutions to every problem. Bank interest is always considers as an issue in mankind history, if we exclude banks history from there!
No one, regardless of religion, likes the interest and especially interest on Credit Cards. A credit card is a modern day tool that allows users to carry out financial transactions using plastic card.
What solution is there in Islamic banking to resolve the issues of credit card interest?
– high annual maintenance fee (AMF) without monthly interest
– a buying & selling methodology
– prohibition of usage to buy haram items
A common man always compares a traditional credit card with an Islamic credit card and finds very less difference! why????