DND Finance has launched the UK’s first Shariah-certified bank card, the Rating Mastercard.

DND Finance CEO and Rating Mastercard founder Invoice Dost

The Rating Mastercard permits new-to-UK people to transact and construct up their credit score historical past with out compromising the requirements of their Islamic religion.

DND Finance CEO and Rating Mastercard founder Invoice Dost says: “This product will allow Muslim shoppers to create a credit score profile, entry the Western promise of an improved life for them and their households, whereas sustaining their religion rules.”

The brand new bank card providing – which has no curiosity or late fee charges charged on purchases and excellent balances – has been licensed as Shariah-compliant by London-based advisory agency Shariah Specialists.

DND Finance cites analysis performed by Ipsos MORI that discovered 63% of Muslims dwelling within the UK have relocated from overseas. The brand new Rating Mastercard will help these with little to no credit score historical past however who nonetheless observe the rules of their Islamic religion.

Farrukh Habib, co-founder and director of Shariah Specialists, says: “Muslims within the West face the problem of being both financially excluded or compelled to compromise their non secular rules, as a result of unavailability of appropriate and high quality monetary merchandise.

“Rating Mastercard, being a halal bank card, is a big initiative in the direction of higher monetary inclusion and tapping into a distinct segment market.”