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Bank Islam Credit Card-i

Bank Islam Card (“BIC”) is the first purely Shariah contract based credit card to be offered to Muslims and non-Muslims in Malaysia. This card is completely free from any riba or gharar.

Riba is usually translated as “interest” which means an extra amount charged in transactions dealing with silver, gold or money. Gharar is defined as uncertainty or ambiguity. Be assured that neither riba nor gharar is attributable to the Bank Islam Card-i. The Shariah concept that is being used in the operations of BIC is Tawarruq.


Tawarruq means the purchase of commodity on differed payment basis by way of either direct sales or cost plus sales. The commodity is then sold for cash to a party other than the original seller.

Discussion among the majority of classical Muslim scholars on tawarruq was done simultaneously with bai’ al-‘inah. In fact, they do not differentiate the discussion on tawarruq and bai’ ‘inah; except the scholars of Hanbalis who have distinguished it.

Generally, tawarruq and bai’ ‘inah are similar in terms of its objective to obtain cash through the selling and buying transactions, but they are different in two aspects. Firstly, bai’ ‘inah does not involve third party as purchaser of the object of sale (asset/commodity), while tawarruq involves third party. Secondly, the sales object in bai’ ‘inah is returned back to the original owner, whereas in tawarruq, there is no such condition.