Ruling 188: Prohibited merchant category code for Debit and Credit Card-i

Soualhi, Younes and Zakariyah, Habeebullah and Sharofiddin, Ashurov and Ishak, Muhammad Shahrul Ifwat and Hasan Saleh, Abdulmajid Obaid (2025) Ruling 188: Prohibited merchant category code for Debit and Credit Card-i. Policy Paper. Al Rajhi Bank Malaysia.

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Abstract

The Shariah Board of Al Rajhi Banking & Investment Corporation (Malaysia) Bhd. (“Shariah Board”) in its meeting held on 20/02/1447 H. corresponding to 14/08/2025 G. reviewed a proposal concerning “Merchant Category Codes (MCC) Classes to be Prohibited for Debit and Credit Card-i” submitted by the Bank. Previously, the Shariah Board has approved the list of prohibited MCC. The previous MCC block list lacked ownership and clear reasoning with no decision-maker and the reasoning behind the decision made was not recorded. The Bank thus would like to correct this by benchmarking against peer institutions, producing a revised block list with firm rationale and better industry alignment.

Item Type:	Monograph (Policy Paper)
Uncontrolled Keywords:	Ruling
Subjects:	BPK Islamic law. Shari'ah. Fiqh
Kulliyyahs/Centres/Divisions/Institutes (Can select more than one option. Press CONTROL button):	Institute of Islamic Banking & Finance (IIiBF)
Depositing User:	DR HABEEBULLAH ZAKARIYAH
Date Deposited:	19 Jan 2026 01:32
Last Modified:	19 Jan 2026 01:32
Queue Number:	2026-01-Q1791
URI:	http://irep.iium.edu.my/id/eprint/127014

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