AmBank Islamic will soon prohibit the use of its Shariah-compliant Credit Card-i at government-owned lotteries in specific countries. The update, effective 6 June 2025, is part of a revised Product Disclosure Sheet that reflects the bank’s continued alignment with Islamic finance principles.

The newly added restriction falls under Merchant Category Code 9406, which covers government-owned lottery operators. This marks the most notable change in the revised list of restricted transaction categories. In contrast, two existing restrictions have been removed. These include bars, cocktail lounges and discotheques, and wig and toupee stores.

Other prohibitions remain unchanged. Cardholders will continue to be restricted from using the Credit Card-i at liquor stores, betting and gambling establishments, government-regulated online lotteries, licensed casinos, horse and dog racing venues, online dating services, and cigar shops.

AmBank Islamic states that the Credit Card-i remains structured under the Shariah principles of Ujrah and Qard. Under Qard, the bank provides a credit limit to the cardholder as a loan. Ujrah refers to the fee charged for access to services, benefits, and privileges provided by the card.

The eligibility criteria for the Credit Card-i remain the same. Applicants must be at least 21 years of age and provide proof of annual income. The bank has also advised cardholders to review the revised terms before they take effect and to contact AmBank Islamic for any further information or assistance regarding the changes.

(Source: Ambank)

• TAGS:
• Ambank Islamic
• AmBank Islamic Credit Cards-i
• Credit Card
• Shariah Compliant