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Meethaq
Islamic CREDIT CARDS
Overview

Meethaq offers you a wide range of Islamic credit cards designed, in accordance with Shari’a principles, to provide convenience, incomparable benefits and exciting discounts to you. To match your lifestyle and spending habits, we have a credit card tailored for you with wide acceptance at millions of merchants in Oman and around the world. Meethaq credit cards are chip-based and highly secured so you could safely use them to make purchases or pay bills online or any merchant stores.

Shari’a Basis

The Meethaq Islamic credit card is based on the concept of Ujrah whereby the cardholder pays the Ujrah fee in exchange of all kind of services rendered through the card. In general, Meethaq credit card is a payment instrument that meets with at least three criteria of Shari’a requirements.

Firstly, the card meets the Shariah requirements on lending to avoid three essential prohibitions in Islamic finance, which are Riba, Gharar and Maysir. Riba, as applied in the interest concept, is totally prohibited as prescribed in the Holy Qur'an and the Hadith of Prophet Muhammad PBUH. Therefore, Meethaq credit card doesn’t charge any interest on payments or on the credit limit granted to the cardholder. Gharar, or ambiguity, is avoided by excluding a charging scheme where the monthly repayment or service charges are variable. In this regard, Meethaq credit card charges a fixed Ujrah fee. Maysir or gambling is also prohibited. Thus, apart from preventing the cardholder to utilize the card for gambling or sort, Meethaq credit card also blocks some other Shariah non-compliant merchants.

Secondly, Meethaq credit card must have certainty to be accepted widely. For this purpose, Meethaq is using an international payment scheme of MasterCard.

Thirdly, Meethaq credit card does not encourage a spending behavior that is considered Shari’a non-compliant. This includes all manners of forbidden behaviors and transactions of an inappropriate nature.