BML Islamic launches first Shari'ah Compliant Visa Credit Card

The Bank of Maldives (BML) on Thursday announced the launch of the country's first-ever Shari'ah Compliant BML Islamic Visa Credit Card.

The BML Islamic Credit Card is offered based on the principle of Ujrah.

Ujrah is the concept of charging an agreed fee for providing services to a customer.

According to BML, the card is available as Classic, Gold, Platinum or Signature, and can be used for both local and foreign transactions. The card also features advanced security features with global acceptance across millions of merchants.

Customers can also register for the BML Rewards program to earn points for making purchases on credit cards which can then be used for flight, car, or hotel bookings, or even vouchers for local and international merchants.

The Director of BML Islamic Banking, Hassan Kalaam said, "As part of our commitment to enhancing the Islamic Banking experience for our customers, we are delighted to add Visa to our Shari'ah compliant credit card portfolio."

"By combining the global reach of Visa with our Islamic banking principles, we aim to provide a unique and secure option for customers who seek ethical banking solutions."

The launch of BML Islamic Visa Credit Card follows the bank's introduction of the country's first-ever Shari'ah compliant credit card earlier this year.