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Last Updated: 2009/12/28
Summary of question
What is the ruling in making purchases with Parsian Bank credit cards and redeeming their credit in exchange for cash?
Please state Ayatollah Khamenei’s view in regards to credit cards issued by Parsian Bank.
1. What is the ruling in making purchases with these cards?
2. What is the ruling in redeeming the card’s credit in exchange for cash?
In both cases, the cardholder must make payments on an amount exceeding the card’s credit limit. If the credit is redeemed in exchange for cash, an additional 2% must be paid.
Concise answer

We submitted your question to the office of Ayatollah Khamenei and received the following response:

It is permissible to withdraw money from an account that actually has money in it. However, an amount given to you through means of credit – without having the base sum present in the account – is permissible if it is given as a loan. In which case, the loan is considered permissible, but the interest (if any) is considered riba and thus impermissible.

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