Friday 12 July 2013

Islamic and Conventional Credit Card.

Question.
I was intrigued by the concept of Islamic credit card and want to know more about the differences Islamic credit card and conventional credit cards. Please ,i need explanation.

Answer.


Clear difference between the two is a credit card offered by Islamic banking is free of elements that are banned in Islam,usury. Both physically looks the same as the functions allow one to make of credit transactions without cash payment based on the credit limit set by the bank. Keep in mind the fact there is a very clear difference between the two.

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