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Alrajhi Bank Credit Cards Terms and Conditions

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Alrajhi Bank Credit Cards Terms and Conditions

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Questions and Answers

What is the Islamic concept behind the issuance of the credit card by alrajhi bank?

Shari’a compliant “Murabaha Finance”

What does the bank do with the card account funds according to the terms and conditions?

The bank sets aside the funds in the card account and may not use it in any manner.

What is the cardholder entitled to do with the credit card?

Buy goods and services legally permissible, and withdraw cash from ATMs/transfer amount from card to account.

What does the bank charge against each cash withdrawal or transfer amount?

A fee according to the Schedule of Charges Signup and view all the answers

What governs the relationship between alrajhi bank and the cardholder?

The terms and conditions of the issuance of the card from alrajhi bank Signup and view all the answers

What type of finance does the bank give to the cardholder?

Shari’a compliant “Murabaha Finance” Signup and view all the answers

What is the purpose of setting aside the card account with the bank?

To prevent the bank from using the account amount in any manner Signup and view all the answers

What does the bank charge for each cash withdrawal or transfer amount?

A fee according to the Schedule of Charges Signup and view all the answers

What can the cardholder use the card for?

To buy goods and services legally permissible and to withdraw cash from ATMs/ transfer amount from card to account Signup and view all the answers

What does the bank do with the funds deposited in the card account?

The bank may not use the account amount in any manner Signup and view all the answers

What type of finance does the bank provide to the cardholder?

Shari’a compliant “Murabaha Finance” Signup and view all the answers

What is the maximum limit for cash withdrawal defined by SAMA through the card?

The maximum limit for cash withdrawal as defined by SAMA through card will be applicable. Signup and view all the answers

What is the purpose of setting aside the card account with the bank?

To ensure that the bank may not use the account amount in any manner. Signup and view all the answers

What is the cardholder entitled to do with the credit card?

The cardholder is entitled to use the card to buy goods and services legally permissible and to withdraw cash from ATMs. Signup and view all the answers

What governs the relationship between alrajhi bank and the cardholder?

The terms and conditions of the issuance of the card from alrajhi bank govern the relationship between alrajhi bank and the cardholder. Signup and view all the answers