What is the ruling on possessing a prepaid credit card with full collateral from the user's money, along with a fixed annual fee and an increased rate when converting foreign currencies?
Source: FtawySummary from Ftawy's records · added here Sep 2, 2026
There appears to be no religious impediment to using the aforementioned card if the issuing bank adheres to guidelines. One should not resort to obtaining it from an interest-based bank except in cases of dire necessity and the absence of an Islamic bank. There is no harm in calculating an increase in the currency exchange rate in return for the transfer service.
Summary from Ftawy's records · added here
Reviewed by El Fatwa's sharia committee.
Read the full answer on Ftawyhttps://ftawy.com/en/questions/152744
Where this answer came from
- Source platform
- Ftawy
- Original fatwa ID
- 152744
- Added here
- . This is when the answer was added to El Fatwa, not the fatwa's date.
- Text
- Summary from Ftawy's records, reviewed by El Fatwa's sharia committee.
- Read the full ruling
- Read the full answer on Ftawy