Islamic Credit Card : Structures & Issues with Special Focus on Khidmah Card of IBBL

This paper aims to review the Islamic credit card structures or models practiced and developed so far and their shari'ah aspects, especial focus is given to Khidmah card issued by Islami Bank Bangladesh Limited (IBBL). Resolutions of OIC Islamic Fiqh academy on credit card, recommendations of Shari'ah Advisory Council of the Bank Negara Malaysia, and three conditions suggested by Kahf & Mohomed (2016) are used for determining the Shari'ah status of Khidmah credit card.This paper argues that Khidmah card maintains its shari'ah compliant status based on Ujrah model. The underlying theme is to charge service fees for providing payment mechanism & loan related services. OIC Fiqh Academy allowed charging fees for loan related services. The underlying contract in Khidmah Card between IBBL and cardholders is Kafalah or guarantee and scholars differed whether guarantor can charge fees or not for providing services. IBBL doesn't charge any commission directly for providing guarantees