DND Finance has launched the UK’s first Shariah-certified credit card, the Score Mastercard.
The Score Mastercard enables new-to-UK individuals to transact and build up their credit history without compromising the standards of their Islamic faith.
DND Finance CEO and Score Mastercard founder Bill Dost says: “This product will enable Muslim consumers to create a credit profile, access the Western promise of an improved life for them and their families, while maintaining their faith principles.”
The new credit card offering – which has no interest or late payment fees charged on purchases and outstanding balances – has been certified as Shariah-compliant by London-based advisory firm Shariah Experts.
DND Finance cites research conducted by Ipsos MORI that found 63% of Muslims living in the UK have relocated from abroad. The new Score Mastercard will support those with little to no credit history but who still follow the principles of their Islamic faith.
Farrukh Habib, co-founder and director of Shariah Experts, says: “Muslims in the West face the challenge of being either financially excluded or forced to compromise their religious principles, due to the unavailability of suitable and quality financial products.
“Score Mastercard, being a halal credit card, is a huge initiative towards greater financial inclusion and tapping into a niche market.”