No-interest MasterCard for Muslims in the UK

Cordoba Financial Group launched the UK's first sharia-compliant prepaid MasterCard.

In light of the Sharia Law that prohibits earning interests the Cordoba Gold MasterCard does not charge or receive interest. Furthermore the company also donates at least 10% of its profits to registered charities in the UK and abroad.

UK residents aged 18 and over are allowed to avail of the Cordoba Gold card which is being introduced in London.

There are nearly 2 million Muslims living in the UK and 30,000 customers using the services of fully sharia-compliant banks across the country.

"Consumers are tired of hidden charges, and unclear small print and this card is an attractive alternative providing a convenient and safe payment method that is ideal for everyone,” says Ahmed Suleiman, chief executive officer of Cordoba Financial Group. "This card is the first sharia product that has been specifically developed to address the real needs of millions of Muslims in Britain, rather than wholesale Islamic funds geared for governments, institutions and other investors."