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Sales Fatawa / MasterCard

MasterCard

publish date : 2016-03-22 | Views : 1048
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Is the MasterCard issued by Saudi-American Bank (Samba) permissible? Is there any difference between MasterCard and Visa Card issued by the same bank mentioned above?

بطاقة الماستر البنكية

Praise be to Allah, and may Allah’s peace and blessings be upon the Messenger of Allah, his family and his companions.

To proceed:

In response to your question, we say, and with Allah Almighty lies all success:
In reality bank cards fall under the discourse on different types of cards and does not only concern the Saudi-American Bank card. Generally there are two types of cards: closed cards and non-closed cards. Closed cards are permissible if they do not contain a forbidden contract. Non-closed cards which are issued by some shari’a compliant banks are also permissible.
The problem with all credit cards is that they stipulate a penalty on late payment. Some cards, especially the ones issued lately employ stratagems that impose types of monthly or periodical fees and charges resulting in an increase on the cardholder’s borrowing. Cards which result in an increase on borrowing in an event of late payment are not permissible. Nonetheless it is permissible to use them if one is forced to have it in a country where no other types of cards are used and it is not possible to transact with hard cash. But care should be taken so that one does not pay late so that it does not end up in a late payment penalty debited as interest being charged. However, stipulation of a forbidden clause makes the contract impermissible, and such contracts should not be entered into except in cases of necessity. 

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