Mashreq Al Islami Cashback Islamic Credit Card Sharia-compliant
A Sharia-compliant cashback credit card by Mashreq Al Islami with 5% cashback on dining and 1% on international and all other spends.
Free
5% dining
AED 5,000
3.14%
This card also has a conventional version (Mashreq Cashback Credit Card).
Who Is This Card For?
Quick answer before the detailed explanation
Good fit if
You spend AED 3,000 or more monthly on dining and want Sharia-compliant cashback.
Not ideal if
You rarely dine out or prefer travel rewards over cashback.
Watch out for
3.14% FX markup on international transactions reduces net value on foreign currency spend.
Calculate This Card’s Value
Earning Rates
5%
1%
1%
0.15%
0.15%
Perks
Key Strengths and Weaknesses
Strengths
5% cashback on dining with no monthly cap.
No annual fee, making it cost-free to hold.
1% cashback on international and all other spends as baseline.
Sharia-compliant structure for Islamic banking customers.
Watch out for
Only 0.15% cashback on utilities and education, minimal return.
3.14% FX markup on international transactions reduces net cashback abroad.
AED 5,000 minimum salary requirement may exclude some applicants.
Fees & Conditions
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Frequently Asked Questions
Is there an annual fee for this card?
No, the Mashreq Al Islami Cashback Islamic Credit Card has no annual fee, so you can earn cashback without any ongoing cost.
How much cashback do I earn on dining?
You earn 5% cashback on dining with no monthly cap. All other spends and international transactions earn 1% cashback.
What is the welcome bonus and how do I earn it?
New credit card customers receive AED 500 cashback after spending AED 5,000 within the first 60 days. Existing customers receive AED 100.
Does this card earn cashback on school or university fees?
Yes, but only 0.15% cashback on education spend, which is minimal. Dining and general spend offer much stronger returns.
Can I use this card abroad?
Yes, you earn 1% cashback on international transactions. However, the 3.14% FX markup means you effectively lose 2.14% on foreign currency spend.