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IRAN ISLAMIC CREDIT CARD

IRAN ISLAMIC CREDIT CARD

WHAT IS IN IRAN A SHARIA COMPLIANT CREDIT CARD ?

In Iran, banks must follow the 1983 interest-free (Islamic) banking law. A halal credit card therefore avoids ribā (interest) and prices the service via permissible contracts and disclosed fees/profits.

Practically, this shows up as a monthly statement, a grace period that allows full settlement without any interest, and installment options structured through Shariah contracts rather than compounding finance charges.”,