Bayʿ and salaf in Fee-Based credit card-i structures
| Contract | Explanation |
|---|---|
| Bayʿ | Fixed fee paid by the customer for the services, benefits and privileges provided under the card. Relationship between the bank and customer in bayʿ Bank: Seller Customer: Buyer |
| Salaf | Advances by the bank to be used upon retail purchases, cash withdrawals, balance transfer, among others. Relationship between the bank and customer in salaf Bank: Lender Customer: Borrower |
| Contract | Explanation |
|---|---|
| Fixed fee paid by the customer for the services, benefits and privileges provided under the card. | |
| Advances by the bank to be used upon retail purchases, cash withdrawals, balance transfer, among others. |