Two of Malaysia’s largest Islamic banks have launched no-frills credit cards with no annual fee and a fixed, non-compounding profit rate of 14% a year. Maybank Islamic introduced the Nadi Mastercard Credit Card-i, and CIMB Islamic launched the CIMB Lite-i Credit Card, reported by The Star on 7 October 2026.
The details
| Maybank Islamic Nadi Mastercard-i | CIMB Islamic Lite-i | |
|---|---|---|
| Annual fee | None | None |
| Profit rate | Fixed 14% a year | Fixed 14% a year across customer tiers |
| Charges | Non-compounding | Non-compounding |
| Positioning | Simple, low-cost Shariah-compliant card | No-frills card with flexible repayment |
CIMB describes its card as offering lower financing costs than prevailing industry rates. Neither card is built around cashback or travel rewards.
Why it matters
The launches show Islamic banks competing on cost and simplicity rather than perks. A fixed, non-compounding rate is easier to understand than a tiered rate, and helps cardholders who sometimes carry a balance. For those who always pay in full, the profit rate matters less than fees and rewards.
“No annual fee” does not mean no costs. Late payment charges, cash advance fees and other charges in the product disclosure sheet still apply.
Related: Umrah financing in the Muslim Pro app
In August 2026, Ant International’s embedded finance unit Bettr partnered with the Muslim Pro app to offer Shariah-compliant Umrah financing in Malaysia. Eligible users can choose participating Umrah packages in the app and pay over 12 to 24 months. Unlike a credit card, the financing is tied to a specific purchase.
How to compare Islamic credit cards
- Check whether the annual fee waiver is permanent or conditional.
- If you carry a balance, compare profit rates first.
- If you pay in full, compare cashback categories, caps and minimum spend.
- Read the product disclosure sheet for late payment and cash advance charges.
- Check the Shariah contract used (commonly tawarruq or ujrah-based structures) and the bank’s Shariah approval.
This is product information, not financial advice. Confirm current terms with each bank before applying.
Related reading: Islamic loans explained, halal financing explained and Malaysia’s return to the dollar sukuk market.
FAQ
No. Both cards carry no annual fee, according to the banks.
A fixed, non-compounding 14% a year.
Yes. Muslim Pro and Bettr offer Shariah-compliant Umrah financing over 12 to 24 months for eligible users.
