Islamic Law Overview of the Operational Work of Credit Cards

INTRDUCTIONTransactions on credit card involve various Shari’ah issues and rulings. As a result of it, thischapter will endeavor to explain the Shari’ah issues and rulings pertaining to conditions,validity of credit cards conditions, adaptation (takyif) and Islamic legal rulings on credit cards.The most important aspect of credit card transactions is pertaining to terms and conditions ofthe agreement. This is because the terms and conditions are often considered to touch the heartand soul of the credit card transactions. The Prophet (SAW) was reported to have said to theeffect that: “Muslims are bound by their conditions”.1 

INTRDUCTION
Transactions on credit card involve various Shari’ah issues and rulings. As a result of it, this
chapter will endeavor to explain the Shari’ah issues and rulings pertaining to conditions,
validity of credit cards conditions, adaptation (takyif) and Islamic legal rulings on credit cards.
The most important aspect of credit card transactions is pertaining to terms and conditions of
the agreement. This is because the terms and conditions are often considered to touch the heart
and soul of the credit card transactions. The Prophet (SAW) was reported to have said to the
effect that: “Muslims are bound by their conditions”.1

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