CIMB Islamic offers credit cards using the Ujrah concept, where payment in exchange for services, benefits, and privileges are offered to the cardholders. In addition to this, there are rebate offers, exclusive rewards, bonus points and discounts from over 500 merchants. Their Shariah-compliant credit cards also have no annual fees. Currently, CIMB Islamic offers MasterCard: CIMB Islamic Petronas Mastercard, a petrol rebate card that gives you up to 5% cashback at all Petronas stations and an additional 0.5% cashback at other retail spending; and CIMB Islamic MasterCard, a credit card that gives the cardholder many exclusive deals throughout the year.
In line with Shariah principles, cardholders must pay Ta'widh or compensation of 1% of the total outstanding balance or a minimum of RM10 with a capped maximum of RM100 if the cardholder fails to pay their balance on time.
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