The Islamic banking window of Bank of Maldives Ltd. (BML), BML Islamic, has unveiled the first Shari’ah-compliant credit card in the Maldives. The new BML Islamic Credit Card, operating on the American Express network, was introduced on Monday, offering various local and international benefits for card members. These benefits include exclusive savings on booking.com, dining experience offers, and the convenience of installment payments through BML EasyPay, according to the bank.
The BML Islamic Credit Card is founded on the principle of Ujrah, which involves charging an agreed fee for providing services to a customer. Additionally, customers can enrol in the BML Rewards programme to earn points for credit card purchases, according to the bank. These reward points can be redeemed for flight, car, or hotel bookings, as well as vouchers for local and international merchants.
Hassan Kalaam, Director of Islamic Banking, stated that BML Islamic Credit Cards are tailored to meet the needs and preferences of customers seeking a Shari’ah-compliant payment solution. “We are delighted to introduce these cards as part of our efforts to expand BML Islamic in line with our customer demand and is part of our ongoing commitment to support the development of Islamic finance in Maldives,” he added.
Divya Jain, VP/GM, Global Network Services, Asia and South Pacific Growth Markets, American Express, emphasised, “This card, uniquely crafted for the Maldives market, reflects our commitment to delivering unmatched value and access to global benefits for Bank of Maldives Card Members.”
The new BML Islamic Credit Card from the bank is designed for local and foreign transactions and offers the same advanced security features as other bank cards. It is available as a Standard, Gold, and Platinum card.
