mastercard-creates-an-islamic-debit-card

MasterCard creates an Islamic debit card

MasterCard pairs up with Eoncap Islamic Bank to launch what it bills as the world's first Islamic debit MasterCard.

Lara Wozniak

August 05, 2008

MasterCard Worldwide and EonCap Islamic Bank a member of Malaysia's Eon Bank Group have jointly launched what they are billing as the world's first Islamic debit MasterCard û the EonCap Islamic Debit MasterCard.

The EonCap Islamic Debit MasterCard is basically a debit card with ATM functions as well. It also works on PayPass systems, which enables a person to swipe it on a terminal without the card leaving the cardholder's hand. It is referred to as blending traditional purchasing power with modern technology and is Shari'ah compliant.

ôIt is designed to appeal to both Muslim and non-Muslim individuals who prefer better financial control as the card ensures...

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