Mastercard: The Credit Card of the Ayatollahs
According to Shariah scholars, Shariah-compliant Muslims are not supposed to pay or receive interest. Nevertheless, many Muslims around the world have credit cards. The Shariah-observant Muslims get around the ban on interest by paying off their balances every month so as not to incur interest charges. But a lot of Muslims use credit cards just like everyone else, for a variety of reasons.
Some Muslims simply do not actively practice their faith. Others disagree with the interpretation of Quranic verses and Hadiths that call for a total ban on interest. Some Muslims believe that the ban is actually only supposed to be on usury and not all interest.
We wonder what the case is with the 3 million MasterCard holders in the Islamic Republic of Iran, the world’s foremost sponsor of Jihadist terrorism and the world leader in Shariah-compliant finance.
Kenneth Rijock’s Financial Crime blog looked into Iran’s 3 million MasterCards and found some of the rogue regime’s leaders among those listed as cardholders.
How does this not violate US sanctions?