Wasim Saifi, Executive Vice President, Head of Retail and Business Banking, Dubai Islamic Bank, said:
"Al Islami Credit Cards offer all the convenient advantages of today's credit cards, while remaining true to the value of Sharia and the principles of Riba-free Islamic banking that Dubai Islamic Bank proudly represents."
"The new cards will create a difference to the value proposition that is currently available in the market will be convenient for a wide range of customers. The cards also seek to deliver the message that DIB is continually developing its products and services to suit the needs of its customers," he added.
Speaking about the features of the card, he said: "The cards are available in a choice of Platinum, Gold Premium, in addition to Gold and Classic. Al Islami Credit Card has no joining fee. It is free from 'Riba' or interest, and free from the non-Islamic charges like late payment fees or over limit fees."
"Card holders can benefit from cash withdrawals of up to 100 per cent of the card limit through any of the over one million ATMs and financial institutions worldwide. The card is also accepted at over 35 million outlets worldwide," he added.
As for the card privileges, Mr. Saifi said: "The card offers discounts at over 1,500 outlets within the UAE as high as up to 50 per cent. Card holders can also benefit from the best Credit Card Travel Insurance in the UAE, covering 17 different benefits absolutely free-of-cost and completely Sharia-compliant through Dubai Islamic Insurance and Reinsurance Company 'Aman'."
Mr. Saifi explained: "The card also offers free purchase protection and a membership of the International Motoring Club (IMC) that provides varied benefits such as free emergency roadside assistance, international driving licenses, as well as preferential rates for allied services."