North America’s first Muslim MasterCard due to launch soon

A Canadian Islamic financial institution is launching Canada’s first “halal-approved” credit card this month and will also offer it to US Muslims by year end, its president told AFP on Tuesday.

The iFreedom Plus MasterCard meets the requirements of Sharia law, which prohibits usury, by being prepaid and therefore interest-free, said Omar Kalair, president of Toronto-based UM Financial.

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This post was last updated: Nov. 21, 2013