Wednesday, August 13, 2008

No-Interest Prepaid Card is Launched in the UK for the Muslim Population

We’ve recently announced the release of the EonCap Islamic Debit MasterCard in our previous post, but now ePaymentsnews Network reports that Cordoba Financial Gold will release a prepaid MasterCard named Cordoba Gold which will specifically target Muslim users in the UK.

The Sharia forbids earning interest, and so this card has been deemed “Sharia-compliant” since it charges and receives no interest for money stored by its users. Also, the issuing company donates 10 percent of its profits to various charities across the UK. The Muslim population is over 2 million strong in the UK, and so a “Sharia-compliant” card was long awaited.

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