From interest to other fixed disagreements between people who are fond of the banking sector and who are against it, Islamic Debit Cards have been phenomenal in bridging the gap.
Islamic Debit Cards stem out of the very motive that people around the World aren’t satisfied with traditional banking systems and therefore are regarded as one of the products of Islamic banking.
Islamic banking has emerged as a modern-day alternative to conventional banking, especially for people who were eagerly waiting for it.
There are a ton of banks that are now offering Islamic banking but what matters is how the consumers are approaching this method. Consumers, specifically, in Islamic countries are delighted to have this alternative, away from the interest and fixed markups.
Here are some of the benefits that Islamic debit cards offer the end user:
Ease of access
Most and first of all, what a user wants from their bank is the ease of access. This means that everything comes second, as if a user can’t access the services provided by the bank, then there would be no meaning in using the bank’s services.
Everybody is very concerned about their money or how their funds can be stored or accessed but account holders from HBL, have been found to be very satisfied with their bank. With an Islamic debit card, one can easily make sales and purchases without having to worry about having cash in hand or not.
Global acceptability and reach
Another cash issue was foreign currency and the problem of carrying it around the globe if required. With Islamic debit cards now, people can access their accounts around the World without having to think whether they will be fresh out of cash in a foreign land or not.
Cardholders with the same links can easily access their money anytime, anywhere.
Secure and reliable
Before the era of debit cards, everyone had to carry cash from one point to another, and it was neither safe nor feasible. As soon as people got their hands on debit cards, they didn’t have to worry about getting robbed midway or their hard-earned money taken in the wrong way.
Now, people just have to carry their cash to the point of purchase, swipe the card, and make the deal. Even if money is required, one just has to get it out of the nearby atm.
Better financial management
When you have cash in hand, it isn’t easy to keep count and track history, but with Islamic debit cards, everything is digitalized. So now you can know where you spent the money, on what thing, and exactly at what time. This way, one is able to manage their finances in a better manner.
Think of the time when there were no cards; how hard would it have been to stand in lines, get the money out, and then take care of it until the work was done?
So this is all about what are Islamic debit cards. If you still have any questions, you can ask us right away. We’d be more than happy to help you out.