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Jordan Journal of Islamic Studies

Jordan Journal of Islamic Studies

Abstract

This study aimed to Clarify the jurisprudential provisions related to the revolving credit card issued by Safwa Islamic Bank in January 2019. This card was classified as a credit card, but at the same time, it is considered a new Murabaha product for the purchase order in a modern manner in line with the tremendous development of technology and communications. The study dealt with the introduction of credit cards in terms of definition, types and jurisprudence. The study also dealt with the revolving credit card issued by Safwa Al Islami Bank in terms of: description, procedures, policies, with the card, and the final legal judgment in this card.

The study found that credit cards could be both adaptable and beneficial in becoming an easy and distinctive means of investment financing. The study also concluded that there is a consistent doctrine for particular cases that allow a sales agent himself within the confines of Sharia law to conduct such business. The credit cards issued by Safwa Bank are beneficial for the investment and finance of Murabaha within Sharia laws stated in contracts. Finally, Murabaha cards are issued by the agreed upon bank in compliance with Sharia provisions.

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