Central Banking

Bank plans to unveil Islamic 'credit card'

UAE - National Bank of Sharjah (NBS), which enjoys the rare distinction of being the world's first and the only conventional bank to have converted into an Islamic bank, is planning to launch an Islamic 'credit' card, reports Gulf News.

The card, which may not be regarded as a credit card, per se, will comply with Islamic principles and will have arrangement with Visa. There are over one million Visa cards in the UAE.

NBS will also introduce several innovative Islamic products and make availabl