He loves it – when Mastercard creates an Islamic debit card.
"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.
I'm not sure exactly what features make this particular card compliant with Shari'ah, but I guess we just scored one for Capitalism.
Last 5 posts by Mike
- "And they were both naked, the man and his wife, and were not filmed." - December 30th, 2008
- The Revolution Will Be Facebooked - December 26th, 2008
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- On the nature of accidents... - September 28th, 2008
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