Islamic Credit

The Hapag-Lloyd delegation including, Capt. Prateek Gandhi – Director Operations, Hapag-Lloyd, Regional Office, Dubai,Mr. Faheem Mir – Manager - Operations, Hapag-Lloyd, Regional Office, Dubai,Mr. Lalith Witanachchi – Vice President, Hapag-Lloyd Lanka (Pvt) Ltd, Mr. Mindaka Dassanayake – General Manager, Hapag-Lloyd Lanka (Pvt) Ltd.,Mr. Rohan Ranasinghe – Terminal Operations Manager, Hapag-Lloyd AG and Mr. Iqram Cuttilan – Managing Director, Aitken Spence Shipping Ltd poses for a pic with SLPA’s Chairman -Admiral Sirimewan Ranasinghe and the Managing Director - Eng. Ganaka Hemachandra. SLPA's Vice Chairman - Eng. Herath M.P. Jayawardhana, Director (Operations) - Mrs. G. Zavia Miskin and Director (Marketing and BD) - Mr. H J K U Kumara are also present.

April 08, 2008 (LBO) - ABC Investments Limited has launched an Islamic credit card in Sri Lanka, in line with Islamic religious teachings and with strict rules on its usage, a company statement said. Updated The 'ABC Barakah' credit card does not carry interest or penalties for late payment which is considered forbidden under Islamic law.

The credit card service does not generate profit and there is a certain financial risk involved, the company says.

"Muslims in particular could have this card in their wallets which we want them to use only in 'Halal' purchases and 'Halal' services."

According to the strict rules that govern the service, the credit card cannot be used to purchase products such as liquor or cigarettes or used in nightclubs and casinos.

The card can only be used at designated places and vendors throughout Sri Lanka.

"If it is misused, we would immediately withdraw the card.

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As ABC Barakah is fully Islamic, we also expect our clientele to be fully Islamic," the company statement said.

The card is offered in Gold, Olive, Platinum and Elite categories where the Gold has a credit limit of up to 50,000 rupees while the Elite has a limit over 500,000.

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