دورالبطاقات المصرفية كأداة وفاء وأثرها على المعاملات المصرفية الاسلامية

The Role of Bank Cards as a Mode of Payment and its Impact on the Islamic Banking Transactions

Abstract

The history of currency and its various forms is as old as mankind itself.  With the passage of time as man has evolved, currency has also set its own stages of development. The payment methods are developing day by day with the innovation and with the changing times. Its diverse forms are not only changing day by day but will also continue to emerge in the future. Similarly, an innovation is to make payments through different bank cards, in such a situation there is a need to clarify the different types of new payment methods by discussing them in the light of Shariah.

The rulings of the Shariah that apply to the payments through Bank cards should be discussed and then the procedure that is violating the Shariah should be made in accordance with it. Moreover, it is necessary from Shariah prospective in sarf and its related contracts that the consideration should be made within contracting session. There are different forms of possession in various kinds of sales which are necessary to be explained in the light of Quran and Hadith.

Therefore, when the mode of payment is a bank cards, the rules of sarf will apply to it or not? In such a case, payment by cards will fall into the category of contract of sarf? Similarly, if the payment made by the bank cards, will the transfer of money be deemed immediate in the eye of Shariah or not? Either these payments through bank cards comes under the contract of wakalah and hawalah? In the light of above mentioned and similar other questions, this study will recommend Shariah complaint mechanisms which will be helpful for the business community, banking sector and consumers. Additionally, it will extend the base of Islamic Banking literature which will be useful to academic research.