A Bank Islam card (BIC) from the Bank Islam Malaysia Berhad (or BIMB) was the first Shariah contract based credit card to be offered to both Muslims as well as non-Muslims throughout Malaysia. The card does not have any interest or what is known as “riba” or “gharar.”
“Riba” is generally considered to be interest in the Islamic community. On the other hand “gharar” is considered to be uncertainty or ambiguity. In other words, the maximum profit earned from the Bank Islam credit card has been stated upfront which means that there is no uncertainty attached to it.
The BIC is the very first card in Malaysia that makes use of the SMART chip technology. The point of this is to guarantee the highest level of safety and security for all cardholders of the Bank Islam credit card.
The shariah credit card payment online system makes doing your banking a stress free process. To learn as much as possible about the online system that the Bank of Islam uses visit the website . Besides credit cards, the Bank of Islam offers other types of financial services. The Bank of Islam offers to its customers MasterCard and Visa. You can get either of these credit cards in Classic, Gold or Platinum versions.
Qualifications for a Bank of Islam credit card
- In order to qualify for a Bank of Islam credit card you must be at least 21 years of age.
- The cards are issued based on certain income requirements.
- You must earn RM 18,000 annually to apply for a Classic MasterCard or Classic Visa.
- To apply for a Gold card you must earn RM 36,000 and for a Platinum card you must earn RM 84,000.
- If you are a self-employed individual or a fixed income earner there are specific documents that you must supply for the application process.
If you wish to apply online then you can do that.If Internet banking appeals to you then you can use the Bank Islam credit card payment online system to safely and conveniently manage your finances from wherever you happen to be in the world. The enrolment process is easy to complete. You must choose a PIN number in order to use the online service. Please note that at the present time the Bank of Islam offers online banking but making credit card payments through the system is not possible at the moment. You can also use this service to view your account balance and see all of your recent transactions.
