Tuesday, February 6, 2007
Saturday, February 3, 2007
Even though now there are 'Islamic Credit Card' in certain Muslim countries (e.g. Malaysia), this Debit Card card seems like a much better alternative to normal Credit Cards, offering all its services without the risk of interest and riba. One of the example of the Debit Card is 'Visa Check Card' from Visa.
However, there are a few points to consider:
* There maybe a small monthly sevice charge involved when you use the card (e.g. 1.5$ per month for large banks in the USA, only in months that you use the card in). Note that almost all cards in the USA have no annual fee, unlike other parts of the world (e.g. Middle East).
Apart from the above, the debit card is a very convenient way of avoiding the drawbacks of credit cards.
Why “i”? Coz in financial world, the letter “i” synonim with “Islamic Banking”, or can also be related to Islamic finance. Then, it also can be translated into “infaq”, which means give. Because you give, and you shall receive.
In this blog i’ll review about Islamic financial tips and all about personal finance world.
Any comment, recommendation or suggestion are highly appreciated.