Mastercard: The Credit Card of the Ayatollahs | Shariah Finance Watch

According to Shariah scholars, Shariah-compliant Muslims are not supposed to pay or receive interest. Nevertheless, many Muslims around the world have credit cards. The Shariah-observant Muslims get around the ban on interest by paying off their balances every month so as not to incur interest charges. But a lot of Muslims use credit cards just like everyone else, for a variety of reasons.

Some Muslims simply do not actively practice their faith. Others disagree with the interpretation of Quranic verses and Hadiths that call for a total ban on interest. Some Muslims believe that the ban is actually only supposed to be on usury and not all interest.

We wonder what the case is with the 3 million MasterCard holders in the Islamic Republic of Iran, the world?s foremost sponsor of Jihadist terrorism and the world leader in Shariah-compliant finance.

Kenneth Rijock?s Financial Crime blog looked into Iran?s 3 million MasterCards and found some of the rogue regime?s leaders among those listed as cardholders.

How does this not violate US sanctions?

http://rijock.blogspot.com/2012/08/why-are-there-300m-mastercard-holders.html

?

Source: http://www.shariahfinancewatch.org/blog/2012/08/30/mastercard-the-credit-card-of-the-ayatollahs/?utm_source=rss&utm_medium=rss&utm_campaign=mastercard-the-credit-card-of-the-ayatollahs

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