Is the National Bank of Egypt's credit card permissible or impermissible, especially with its interest-free installment offers, given that interest is only applied if the 55-day period is exceeded, and does linking the card to an automatic payment account negate the suspicion of usury?
Source: FtawySummarized from the full answer at Ftawy · imported Sep 2, 2026
It is not permissible to issue cards that stipulate an increase in case of late payment, even if one is almost certain they will not be late, because they involve an acknowledgment of the forbidden usurious condition.
Summarized from the full answer at Ftawy · imported
Read the full answer on Ftawyhttps://ftawy.com/en/questions/164060
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- Ftawy
- Original fatwa ID
- 164060
- Imported
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- Source text, unreviewed
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