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Dubai / Emirates Business
Aafaq Islamic Finance, in collaboration with Mastercard, has launched unique Sharia-compliant credit cards, boosting its retail segment and capturing the growing credit card market in the country.
Aafaq’s retail business expansion is in response to the increasing demand for Sharia-compliant banking products and services in the country, where over 50% of customers use Islamic banking products. Because of the continuous rise in the demand from different ethnic groups of customers, Islamic banking products have outpaced growth in conventional banking, a trend that is expected to continue, especially in the retail sector.