7th May 2026 - 2 min read
Bank Rakyat has launched the Bank Rakyat World Mastercard Credit Card-i, a Shariah-compliant premium credit card designed for travel and retail spending. The card will be available from June 2026.
The card is built around three core benefits. Cardholders earn 5% cashback on hotel bookings, airline ticket purchases, and dining, capped at RM1,500 per annum. All overseas transactions are also processed with 0% foreign exchange markup, eliminating currency conversion fees entirely. The card also comes with six complimentary airport lounge access visits per year at Mastercard-affiliated lounges worldwide.
On the rewards side, cardholders earn 10x Rakyat Rewards points for every RM10 spent on overseas transactions, and 2x Rakyat Rewards points for every RM10 spent domestically.
The card provides access to Mastercard World Privileges at no extra cost. These include a dedicated travel concierge service for trip planning and bookings, elite status recognition at partner hotels for room upgrades and additional amenities, access to participating golf courses worldwide, and complimentary international data roaming while travelling abroad.
The card requires a minimum annual income of RM80,000, which Bank Rakyat says is intended to make World-tier travel benefits accessible to a broader segment of Malaysian cardholders compared to other premium card offerings.
Datuk Mohd Irwan Mohd Mubarak, Chairman of Bank Rakyat, said the card is built around what customers actually need, combining meaningful cashback on travel with no hidden forex fees, all within a Shariah-compliant framework.
Beena Pothen, Country Manager for Malaysia and Brunei at Mastercard, said the partnership reflects Mastercard’s commitment to supporting Malaysia’s digital financial ecosystem and giving more Malaysian consumers access to premium banking services.
For more information, visit Bank Rakyat’s official website.
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Andrew writes about personal finance and consumer behaviour, drawing on over a decade in digital media and editorial across tech, automotive, and now financial content. He believes every financial topic has a clearer way to be explained, and won’t stop until he finds it. When he’s not in front of a camera or editing copy, he’s either down a tech rabbit hole or researching a car he has no intention of buying.
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