Faysal Islami
Noor Titanium Card

Faysal Islami Noor Card and Musawamah contract:

• Applying for the Faysal Islami Noor Card involves a Musawamah Agreement. Musawamah is a general kind of sale in which price of the commodity to be traded is stipulated between seller and the buyer without any reference to the price paid or cost incurred by the former.

Purchase of Assets under Musawamah Contract:

• Purchase assets (e.g. Islamic Mutual Funds Units) at a deferred payment based on an agreed price (Musawamah Price) through the Musawamah contract resulting in the transfer of ownership (sale).

Authorization for asset sale:

• Once the assets are under your ownership you authorize your appointed agent to sell them to a third party (Mutual Fund Company) on your behalf.

Utilization of sale proceeds:

• The sale proceeds (funds) are deposited into your Mudarabah account with Faysal Bank Islami, serving as your card limit for later use.

Card transactions:

• Transactions (usage) on your card leads to a debit in your card & Mudarabah account both and this activity will be detailed in your monthly statement.

Payment and card limit restoration:

• The total amount must be paid by the specified payment due date to restore the full card limit.

Partial payment mechanism:

• If you pay only the minimum payment due or an amount less than the total amount payable within due date the bank will request accrued profit as per the Musawamah agreement communicated through the statement of Account.

In case of delay from payment required date or payment less than minimum payment required, the Bank will recover the Musawamah Payment as per current SOC.

Technically the bank earns profit on sale of asset (Islamic mutual funds) to customer at agreed sale price as per the Musawamah contract which is permissible and a Shariah compliant mode to earn profit.

Faysal Islami Noor Card is NOT the same as charge card. The card allows you to pay a minimum monthly amount of the required amount or partial amount as opposed to charge card where full amount is payable on payment required date.

• Application Form
• Copy of CNIC
• Key Fact Sheet (KFS)
• Salary Slip / Proof of Business
• Bank Statement

• By contacting 24/7 Helpline (Velocity/Gold/Titanium: 021 111 06 06 06, Platinum/World: 021 111 11 71 71)
• WhatsApp +923 101 786 786

Reward point can be generated upon spending Rs. 100 on retail transactions only

Reward points will be available to redeem till 12 months since the date of generation.

Rs. 3,000/- can be utilize in single contactless transaction domestically.

For Charges, kindly refer to the latest Schedule of Charges