The Islamic Debit MasterCard
BIGOTRY. Mastercard. Creating them and us. Priceless:
MasterCard Worldwide and EonCap Islamic Bank (a member of Malaysia’s Eon Bank Group) have jointly launched what they are billing as the world’s first Islamic debit MasterCard—the EonCap Islamic Debit MasterCard.
The EonCap Islamic Debit MasterCard is basically a debit card with ATM functions as well. It also works on PayPass systems, which enables a person to swipe it on a terminal without the card leaving the cardholder’s hand. It is referred to as blending traditional purchasing power with modern technology and is Shari’ah compliant.
“It is designed to appeal to both Muslim and non-Muslim individuals who prefer better financial control as the card ensures that purchases are automatically deducted from the cardholder’s account and approved only if enough funds exist within the account. It helps track spending, comes with worldwide acceptance at more than 26 million locations and can be used at an ATM for e-banking,” says Fozia Amanulla, chief executive officer of Eoncap Islamic Bank.
“MasterCard is pleased to collaborate with Eoncap Islamic Bank in order to introduce this card to Malaysian consumers. The EonCap Islamic Debit MasterCard card is designed for individuals who prefer to spend what they have in their accounts, yet seek the same functionality and assurances of a credit card,” said Shuan Ghaidan, head of product sales and delivery, Asia-Pacific at MasterCard Worldwide.
Says Rachel:
I’m not a particularly intelligent person, nor a debit card expert nor a banker, so maybe I’m missing something but can someone please explain to me like I’m 4 years old exactly how the Islamic Debit Mastercard is different from every other debit card on the planet? Because my bank’s basic Infidel Debit Visa Card does precisely the same things. It’s like cash, only without other people’s germs on it.
It’s green and made of paper…
August 10th, 2008 at 1:47 pm
My guess, and it is strictly a guess since I have not read the terms of the contract, is that they want to be able get the protection of purchases on a credit card whereby the credit card company foots the bill if the goods fail to turn up, whilst avoiding the interest relationship proscribed by Islamic law…
August 10th, 2008 at 2:18 pm
It’s also programmed not to work 5 times a day.
August 10th, 2008 at 2:24 pm
And emit a bloodcurdling wail simultaneously so that it’s owner doesn’t miss the moment…
August 10th, 2008 at 2:25 pm
in built compass pointing East
August 10th, 2008 at 2:29 pm
Comes in a choice of colours as long as its black (with a small window for the microchip)
August 10th, 2008 at 2:31 pm
And cannot be used for buying anything remotely like a lads mag, unless the centrefold is wearing a burkha…
August 10th, 2008 at 2:32 pm
only accepted at Hallal butchers…
August 10th, 2008 at 2:34 pm
And has an integrated ‘call a mullah’ feature to enable instant advice to be obtained as to whether this is an ethical purchase…
August 10th, 2008 at 2:37 pm
Men’s use only.
August 10th, 2008 at 2:42 pm
Definitely not; Harrods would go bust if you bar the Burkha Big Buyers…
August 10th, 2008 at 5:54 pm
Good Muslim women only go out in public when chaperoned by a male family member - so no need for harrods to worry
August 10th, 2008 at 6:02 pm
Oh, they are chaperoned by a male family member; he’s the one smiling benignly at people from the corner.
Now if you want racy burkha wearers without a visible bloke in tow you need to go to Selfriges; many’s the time when a promising looking garment has been hauled forcibly from my hands without so much as a ‘my bodyguard will kill you if you try and hold onto this’ from the lady in question.
The blokes are usually at the coffee bar thingie in the basement…
August 10th, 2008 at 6:15 pm
Ah Chenier thats nice of them, trying to protect you from the evils of credit card debts.
August 10th, 2008 at 7:46 pm
Or maybe they just want to keep track of muslim movements, that is if pay toilets will accept Islamic Debit MasterCards.
August 11th, 2008 at 9:58 am
I have to agree with Chenier - it’s about protection of goods and non-payment of interest.
August 11th, 2008 at 1:40 pm
you’d have to watch it though - the edges are really sharp, so you don’t want to be holding it at neck level….
August 11th, 2008 at 5:49 pm
Instead of the platinum version it has an extremist version that comes complete with a self destruct facility.
August 26th, 2008 at 8:27 pm
The Islamic card would be Sharia compliant ie not paying any interest on purchases….great for non muslims also…ahhh but what’s the catch you ask? Instead of interest paid there would be a standard subscription fee which would come out of your account every month, the amount would be the same every month regardless of how much you spend…