Iran introduces own credit cards
Iran has introduced credit cards for the first time in what appears to be a plan to encourage spending by the public. The credit cards will be presented to applicants with three limits of Rials 100 million ($3,000), Rials 300 million ($10,000) and Rials 500 million ($15,000). They can be used for purchases in shops or online, the media reported. The cards have been devised within Murabahah Islamic financing structure. Murabahah by definition involves the purchase of a commodity by the bank, on behalf of the customer, which is to be sold to ...
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