Islamic banks ban credit card use in certain stores.

Oct.14.2024
Islamic banks ban credit card use in certain stores.
Islamic bank bans credit and debit cards from being used in UAE stores selling hookah and e-cigarettes, citing Sharia law.

According to Emaratalyoum on October 14th, banks issuing credit cards permitted by Islamic law have for the first time prohibited the use of their credit and debit cards in stores selling "hookah" and e-cigarettes. Customers holding these cards have confirmed that all these stores no longer accept payments with cards from the relevant banks, and any attempts to use such cards at these places will be refused.


Financial expert Amjad Nasser points out that Islamic banks use specific codes provided by Visa and MasterCard to classify the nature of merchants, in order to comply with legal requirements. These merchants are categorized as engaging in activities that do not align with Islamic law. Therefore, at these establishments, Islamic bank cards cannot be used for direct debit or credit payments.


He added that the Islamic bank's card system is programmed to reject transactions from such stores. This rule is stated in the terms and conditions of all categories of Islamic bank cards.


Nassir continued to explain that sometimes transactions may be conducted on these cards, but all transactions are monitored and reviewed for compliance with regulations by religious institutions or central banks. If any violations are found, the bank will be required to cease such illegal transactions and strictly adhere to established operating procedures.


He also mentioned that it is expected that all Islamic banks in the country will implement this policy. Despite some religious institutions in other countries believing that credit cards are the "personal property" of the cardholder, allowing them to freely use and bear the consequences, in the UAE, religious institutions have unanimously agreed not to allow the use of cards issued by Islamic banks to purchase goods that do not adhere to religious law.


We welcome news tips, article submissions, interview requests, or comments on this piece.

Please contact us at info@2firsts.com, or reach out to Alan Zhao, CEO of 2Firsts, on LinkedIn


Notice

1.  This article is intended solely for professional research purposes related to industry, technology, and policy. Any references to brands or products are made purely for objective description and do not constitute any form of endorsement, recommendation, or promotion by 2Firsts.

2.  The use of nicotine-containing products — including, but not limited to, cigarettes, e-cigarettes, nicotine pouchand heated tobacco products — carries significant health risks. Users are responsible for complying with all applicable laws and regulations in their respective jurisdictions.

3.  This article is not intended to serve as the basis for any investment decisions or financial advice. 2Firsts assumes no direct or indirect liability for any inaccuracies or errors in the content.

4.  Access to this article is strictly prohibited for individuals below the legal age in their jurisdiction.

 

Copyright

 

This article is either an original work created by 2Firsts or a reproduction from third-party sources with proper attribution. All copyrights and usage rights belong to 2Firsts or the original content provider. Unauthorized reproduction, distribution, or any other form of unauthorized use by any individual or organization is strictly prohibited. Violators will be held legally accountable.

For copyright-related inquiries, please contact: info@2firsts.com

 

AI Assistance Disclaimer

 

This article may have been enhanced using AI tools to improve translation and editorial efficiency. However, due to technical limitations, inaccuracies may occur. Readers are encouraged to refer to the cited sources for the most accurate information.

We welcome any corrections or feedback. Please contact us at: info@2firsts.com

PMI Pushes Smoke-Free Business in Latin America as Argentina Lifts Heated Tobacco Ban, Mexico City Share Tops 7%
PMI Pushes Smoke-Free Business in Latin America as Argentina Lifts Heated Tobacco Ban, Mexico City Share Tops 7%
Philip Morris International (PMI) showcased IQOS heated tobacco systems and nicotine pouch products at Technovation 2026 in Buenos Aires on October 7–8, presenting research on consumer attitudes, regulatory developments and illicit cigarette trade across Latin America. PMI Chief Global Growth Officer Stefano Volpetti said smoke-free products accounted for more than 7% of the Mexico City market. Argentina repealed its heated tobacco ban in May 2026 and introduced registration requirements for tobacco and nicotine products, while local media reported nicotine pouch sales in Mendoza. A PMI-commissioned survey found that only 8% of respondents across four Latin American countries were familiar with nicotine pouches. A separate KPMG study estimated illicit cigarette consumption at 77 billion sticks across 11 markets in Latin America and Canada in 2025.
PMI
Oct.13
Philip Morris Malaysia Again Meets Religious Authority Over Cigarette Alternatives as Perlis Mufti Responds on Halal Criteria
Philip Morris Malaysia Again Meets Religious Authority Over Cigarette Alternatives as Perlis Mufti Responds on Halal Criteria
Philip Morris Malaysia Managing Director Naeem Shahab Khan met Perlis Mufti Mohd Asri Zainul Abidin on September 17 and presented the company's shift from conventional cigarettes toward alternative products. The mufti said a product could be considered halal if it is clean, its side effects are not harmful or can be controlled, and it does not involve excessive waste. His remarks did not mention IQOS or any other specific PMI product and did not amount to a new product-specific religious ruling. It was at least the second publicly reported engagement between Philip Morris Malaysia and a Malaysian religious institution over cigarette alternatives within six months.
Regulations
Sep.18 by 2Firsts Perspectives
Product | DOJO Launches 0+6ml BLAST7K Fresh in UK in September, Retaining 2+8ml Pod Compatibility Ahead of October Per-Milliliter Vaping Duty
Product | DOJO Launches 0+6ml BLAST7K Fresh in UK in September, Retaining 2+8ml Pod Compatibility Ahead of October Per-Milliliter Vaping Duty
DOJO officially launched the BLAST7K Fresh on September 17, 2026, introducing a UK-market prefilled pod product with 6ml of e-liquid and a manufacturer-rated capacity of up to 7,000 puffs. The device features a 1000mAh rechargeable battery, the INSTA-JUICED structure and COREX BLAST dual-mesh technology, while retaining compatibility with existing BLAST pods. The launch comes less than two weeks before the UK's Vaping Products Duty takes effect on October 1. At the new duty rate, 6ml of vaping liquid would correspond to £1.32 in VPD. DOJO has not stated that the product's 6ml format was designed in response to the new duty.
Sep.20
Product | PMJ Adds Bold Ruby to IQOS ILUMA i Lineup in Japan, Convenience-Store Rollout Starts Sept. 29
Product | PMJ Adds Bold Ruby to IQOS ILUMA i Lineup in Japan, Convenience-Store Rollout Starts Sept. 29
Philip Morris Japan (PMJ) launched Bold Ruby as a new regular color for the IQOS ILUMA i and IQOS ILUMA i ONE in Japan on September 16, 2026, priced at JPY 6,980 and JPY 3,980, respectively. Initial sales began through IQOS online and physical channels, with convenience stores and selected tobacco retailers set to follow from September 29. Bold Ruby is a regular rather than limited-edition colorway and is available for the ILUMA i and ILUMA i ONE, but not the ILUMA i PRIME. The release does not involve changes to the devices' core hardware or functions.
Sep.22
Why Does JPMorgan Favor BAT Over Philip Morris Despite Forecasting Slower Growth of 3.9% Versus 6.2%?
Why Does JPMorgan Favor BAT Over Philip Morris Despite Forecasting Slower Growth of 3.9% Versus 6.2%?
JPMorgan resumed equity research coverage of British American Tobacco (BAT), Philip Morris International (PMI) and Imperial Brands in November 2026, assigning BAT an Overweight rating and the other two companies Neutral ratings. The bank forecasts like-for-like sales growth of 3.9% for BAT and 6.2% for PMI in 2027, but estimates the two companies will trade at approximately 11 times and 21 times 2027 earnings, respectively. JPMorgan cited BAT's improving position in US nicotine pouches and vaping products as a driver of its investment outlook. BAT reported a 220% constant-currency increase in US modern oral nicotine revenue in the first half of 2026, while PMI's ZYN US shipments returned to growth in the third quarter. Imperial expects NGPs to represent 4% to 5% of sales and has expanded its oral portfolio through acquisitions.
Capital Markets
Nov.12
2Firsts Data|China’s Vape-Related Exports Rose 3.3% in August 2026 as UK Shipments Jumped 51.4% and U.S. Exports Fell 12.4%
2Firsts Data|China’s Vape-Related Exports Rose 3.3% in August 2026 as UK Shipments Jumped 51.4% and U.S. Exports Fell 12.4%
China exported $979 million of vape-related products in August 2026, up 3.3% from a year earlier but down 6.4% from July. The UK replaced the U.S. as the main source of growth: UK-bound shipments jumped 51.4% to a 2026 high of $177 million, while exports to the U.S. fell 12.4% to $339 million. Shipments to markets outside the U.S. increased 14.2%, broadening growth beyond the market that had driven July’s rebound.
News
Sep.23 by 2Firsts Perspectives