Al Hilal bank introduces first credit card that points to Mecca

al hilal card mecca compass

 

For many years, as some of you know, I was involved with running Cards and Payments Middle East, at which two of the perennial conference topics were Islamic Banking and multi-application smart cards – well, here's a great new product that covers both!

Al Hilal bank has introduced the first credit card that not only offers interest free credit, travel vouchers that can be used to pay for Haj pilgrimage, automatic charity donations but also features a compass to allow customers to orientate themselves towards Mecca.

Shariah-complient banking is a huge global industry, according to the FT "The top 20 Islamic banks in the Gulf have grown 20 per cent in the past 18 months, compared with 9 per cent for conventional banks, according to Ernst & Young's Bahrain-based sharia-compliant advisory group."

Comments

  1. Mohamed Osman Suliman

    A very interesting Topic, specially that all Banking in our country (SUDAN) is islamic. We need to establish contact with issuing bank, can you provide contact details?

  2. Author
    Crompton-Reid

    Mohamed, thanks for your comment, here’s a phone number: 00971 (0)2- 499 44 44

  3. Muhammad Mustafa Kamal Baig

    Dear Muhammad,
    Thnaks for your interest,further if you need any technical information regarding card issuance system, please feel free to communicate with me, we are one of them who provide banking equipment for card personalization and printing/Embossing.

    Regards,
    M.Mustafa Kamal Baig
    00971 50 15 21 809

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