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Banks (Finance)

Bank Muamalat Introduces Shariah-Compliant Business Credit Cards

Strategic Insights

— 1 min read

Bank Muamalat has launched Shariah-compliant business credit cards, the Visa Platinum Business Credit Card-i and Visa Infinite Business Credit Card-i, to support Malaysian businesses with efficient and ethical financial solutions. The new cards offer 2% cashback on all spending, a profit-free period of up to 30 days, and customizable card usage controls to streamline daily operations and reduce administrative burden. The initiative is aligned with the Thirteenth Malaysia Plan's emphasis on SME empowerment, digitalization, and inclusive economic growth.

Key Takeaways:

  • The Visa Platinum Business Credit Card-i and Visa Infinite Business Credit Card-i are Shariah-compliant financial solutions tailored to the needs of businesses, offering practical and efficient financial support.
  • The cards provide 2% cashback on all spending (capped at RM300 monthly), a profit-free period of up to 30 days, and customizable card usage controls to support different business purposes.
  • The initiative is in line with the aspirations outlined in the Thirteenth Malaysia Plan, which emphasizes SME empowerment, digitalization, and inclusive economic growth.
  • The cards reflect Bank Muamalat's commitment to providing value-based, Shariah-compliant financial services that support national development goals.
  • SMEs continue to be a cornerstone of Malaysia's economic engine and long-term growth agenda, with the demand for secure, transparent, and flexible business payment tools rising.

Statistics:

  • 2% cashback on all spending (capped at RM300 monthly)
  • Profit-free period of up to 30 days
  • Customizable card usage controls to support different business purposes
  • Eligible applicants must be Malaysian-owned businesses engaged in halal-compliant activities, with at least three years of business operations
  • Applications can be submitted through the Muamalat Application Platform (MAP) or at any Bank Muamalat branch nationwide (Source: Bank Muamalat Malaysia Berhad, [no date]).

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