WHAT IS IN NIGERIA A HALAL CREDIT CARD ?
An Islamic credit card in Nigeria is a Shariah-compliant payment card offered by licensed non-interest banks that allows customers to make purchases without paying interest (riba). Instead of charging interest on outstanding balances, the bank applies a fixed service fee or a pre-agreed profit structure in line with Islamic finance principles approved by the Central Bank of Nigeria.
The halal card operates like a conventional credit card for everyday transactions but avoids interest-based lending and typically restricts spending on non-permissible (haram) activities.