Sharīʻah Rulings on Bank Cards and an Analysis of the Tawarruq Model

بینک کارڈز کے شرعی احکام اورتورّق ماڈل کاتجزیہ

Abstract

In the past, people used the barter system to exchange goods. Over time, trade evolved, and money was introduced as a medium of exchange. Eventually, paper currency became the standard for buying and selling with modern advancements, the world has become a global village, allowing people to do business across countries. However, as trade grew, so did financial crimes like theft and robbery. Carrying large amounts of cash became risky and inconvenient, creating the need for a safer and easier solution. To solve this problem, financial institutions introduced payment cards. These cards allow people to make transactions without carrying cash. They provide security and convenience, enabling users to withdraw money from ATMs worldwide, shop online, and make cashless payments. As digital transactions become more common, the use of physical money is decreasing, making financial transactions safer and more efficient. However various issues emerged in Islamic perspective regarding to use these cards. Islamic jurisprudence experts of the modern era presented an Islamic model for these cards based on the fiqh term of Tawarruq. In this research article we will analyze various issues related to bank cards in the light of Sharīʻah. We will also review the recent presented model of Tawarruq, to know its Sharīʻah status and practical application.