Is buying a commodity in installments in the following manner permissible: The customer approaches the bank to obtain a Murabahah card, and signs a contract that includes authorizing the customer to purchase the commodity in the bank's name, provided that the commodity conforms to the principles of Islamic finance? The customer then buys it with the card as an agent for the bank, and the bank immediately sells it to the customer on a Murabahah basis?

The Murabaha card was a subject of discussion at the Islamic Fiqh Academy, where Dr. Muhammad Ali Al-Qari proposed a formula for it based on the bank authorizing the customer to purchase, and then to sell to himself as an agent for the bank with an agreed-upon increase. He considered it a legitimate alternative to the credit card, relying on contracts of Murabaha, deferred sale, and agency.

Some members of the Academy agreed with him, while others, such as Sheikh Al-Siddiq Al-Dareer, Sheikh Wahbah Al-Zuhaili, Sheikh Ali Al-Salus, and Sheikh Ali Al-Qaradaghi, disagreed, considering that it opens a door to Riba (usury) or that it is superficial and impractical. The fatwa holds that these objections are valid, and that the bank authorizing the customer in this manner makes the buying and selling superficial, which is not free from the suspicion of Riba.