Aafaq World Elite Credit Card

New cardholders earn 20% cashback on spends at Amazon.ae, noon.com, Careem and Talabat for the first 90 days from card issuance. Cashback is capped at AED 50 per participating merchant per month, with a maximum welcome benefit of AED 600 over the full offer period.

The first year is free. From year 2, the AED 1,050 annual fee is waived when annual retail spend on the card reaches AED 100,000. Balance transfers, finance on phone, easy payment plans, cash advances and aafaq fees do not count toward the spend threshold.

Eligible online retail and dining transactions earn 5 AIF Rewards per AED 1 (5%), capped at 10,000 AIF Rewards per category per month. International (non-AED) spends earn 3%, all other retail spends earn 1%, and reduced categories such as supermarkets, fuel, utilities, telecom, government and education earn 0.15%.

Lifestyle benefits (VOX cinema, valet parking, golf, padel, airport transfers, meet and greet) require a minimum AED 8,000 monthly retail spend. If the threshold is not met, the standard partner fee applies per use (e.g. AED 210 per airport transfer, AED 997.50 per golf round).

Yes. Aafaq Islamic Finance is regulated by the Central Bank of the UAE and structures the card under a Murabaha-Wakala model in line with Islamic finance principles. Late payment amounts are donated to charity through aafaq's Internal Shari'ah Supervisory Committee.

Carrying a balance costs 3.99% per month (47.88% per annum) in profit charges on the unpaid amount. Each month you must pay at least 5% of the principal balance or AED 100, whichever is higher. If the minimum payment isn't received by the due date, a Late Payment Donation of AED 241.50 is charged, which aafaq donates to charity through its Internal Shari'ah Supervisory Committee rather than retaining as fee income.