UK issues first Sharia compliant Mastercard
But Sharia law isn't the law of the land in the UK or anything...really.
The UK's first sharia-compliant prepaid MasterCard has been launched.
The Cordoba Gold MasterCard does not charge or receive interest as this is in direct conflict with sharia Law. The company also donates at least 10% of its profits to registered charities in the UK and abroad. (Ed. note: aka zakat for terrorists)
A company spokesman said: "Because this is a prepaid card, the customer pays no interest on their balance. The difference with this card is that Cordoba Financial Group does not earn any interest on the balance either.
"This card is the first sharia product that has been specifically developed to address the real needs of millions of Muslims in Britain, rather than wholesale Islamic funds geared for governments, institutions and other investors."
And we do want to meet the 'real needs of millions of Muslims in Britain'.
Cordoba Financial Group states that 10 % of their profits go to charity - so they do make a profit. They claim the customer pays no interest and that they don't earn interest, either. So riddle me this, Batman. How do they make their profit? Are they charging interest just calling it something else? That's my guess.
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