What is the ruling on prepaid credit cards from al-Ahli Commercial Bank?
31 Mar 2011 02:10 GMT
 
What is the ruling on prepaid credit cards from al-Ahli Commercial Bank?

Praise be to Allaah.

It is permissible to deal with prepaid credit cards, because they are free from the haraam things found in other credit cards with which the customer borrows from the bank, such as the stipulation of a penalty in the event of late payment, or paying interest, and so on. See the answer to question no. 143719. 

But with prepaid credit cards, the customer is drawing from his own funds and is not borrowing from the bank.


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