ASEEL BUSINESS
CREDIT CARD

"The card that means business."

THE CARD THAT MEANS BUSINESS

The Aseel Business Credit Card

Provides you with the freedom and mobility to grow and manage your business from anywhere.

We offer unmatched features tailored to your specific business needs, giving you the ability to take your business to the next level.

Aseel Credit Card

Comes packed with features that drive your business growth. It maximises your business revenue and improves your cash flow management, while enhancing security and convenience. This card provides recognition and prestige with cost-saving features for your business, all in a Shariah compliant way.

Top Features

LOW-PROFIT RATE

Be at ease and pay a low-profit rate on your outstanding balance.

HIGH CASH WITHDRAWAL

Withdraw up to 90% of your available credit limit at a low-profit rate and obtain instant liquidity for your business.

CASH BACK

Earn reward points on your spending which will be converted into cash back on your card anniversary.

QUICK CASH

Fulfill your instant cash needs and repay in installments through flexible repayment options.

BALANCE TRANSFER

Settle your outstanding balance on other credit cards with Aseel Business Credit Card.

cash

LOW-PROFIT RATE

Be at ease and pay a low-profit rate on your outstanding balance.

daily-payments

HIGH CASH WITHDRAWAL

Withdraw up to 90% of your available credit limit at a low-profit rate and obtain instant liquidity for your business.

takaful-benefits

CASH BACK

Earn reward points on your spending which will be converted into cash back on your card anniversary.

quick-cash

QUICK CASH

Fulfill your instant cash needs and repay in installments through flexible repayment options.

balance-transfer

BALANCE TRANSFER

Settle your outstanding balance on other credit cards with Aseel Business Credit Card.

OTHER FEATURES AND BENEFITS

  • Minimum Repayment of 5% and Installment Payment Plan: Pay as low as 5% of your total outstanding balance. You can also pay back your purchases through Flexible Installment Payment Plans over a period of 36 months.
  • Gain Prestige and Recognition: This exclusive Business Credit Card comes with your company’s name embossed on it so you can have the privilege of carrying a customized card that matches your business needs.
  • No Annual fee: No annual fee for the first year on your Aseel Business Credit Card.
  • Up to 6 free Supplementary Credit Cards: Get up to 6 free supplementary credit cards which you can issue to your company partners or employees.
  • Free Grace Period: Get up to 51 days grace period when you settle your full outstanding balance by the payment due date.
  • Free Credit Shield Takaful: Get protected in the event of any unfortunate personal circumstance with a 30-day free Credit Shield Takaful trial (upon your Aseel Business Credit Card activation).
  • Business Cost Savings Scheme: Enjoy unmatched offers and discounts with Aseel Business Credit Card which help reduce business expenses on hotels and travel, car rentals, courier services, restaurants, gifts, and much more! (Visit: www.aseelfinance.ae/offers-and-partners).
  • Free Expense Tracking Tool: Aseel gives you the first expenses tracking tool in the MENA region. It is simple to use and helps you generate up to twelve standardized reports on demand to track spending by merchant, card and/or transaction, or you can schedule your reports to be generated periodically. Business owners can also set role-based permissions in order to manage the utility of the Business Credit Card.
  • Global Acceptance: The Aseel Business Credit Card is accepted in over 39 million establishments in 200 countries around the globe.
  • 3D Secure Transactions: The Aseel Business Credit Card is backed by VISA’s global customer service. Additionally you can benefit from our 24/7 Call Centre support, ATM/ CDM services, Free monthly e‑statements and SMS Alerts. The card also comes equipped with 3D security for online purchases with Chip and Pin technology for merchant transactions to give you complete peace of mind.
  • Documentation: Minimal documentation required.

FEES & ELIGIBILITY

Business Credit Card Fees and Charges
Profit Rate 1.99% per month
Primary Card Annual Fee (1st year free) AED 500
Supplementary Cards (up to 6 free) AED 50 per additional card
Other Fees and Charges
Late Payment Charges* AED 159
Cash Advance Fee (Cash withdrawal limited to AED 3000 per transaction) AED 60 per transaction
Card Replacement Fee (free once a year) AED 100
Monthly Statement Free
Duplicate Statement Fee
  • Statements less than 3 months old
  • Statements more than 3 months old
  • AED 25/month
    AED 50/month
    Returned Cheque Charge AED 100
    Outstation Cheque Processing Charge AED 50
    Copy of Sales Voucher (up to max 30 days) AED 25
    Credit Shield Takaful (for every AED 100) 0.89% of outstanding balance (1st month free)
    Processing Fee for Non AED transactions 3.75% per transaction
    Dispute Verification Charges (transaction proven valid by the merchant) AED 100
    General
    Cash Advance (% of Limit) 90%
    Payment Due Date from Statement Date 21 days
    Minimum Amount Due 5% of outstanding balance or AED 100, whichever is higher

     

    Please note

    *Late payment fee shall be donated to charity after deduction of Aseel Finance's duly documented and reasonably incurred actual costs due to the late payment.

    All fees and charges mentioned in this guide are subject to change without notice and are applicable on each credit card held. Once posted to the credit card, charges will not be refunded. Additional expenses, e.g. postage, cable courier, fax, legal fees, etc., will be charged wherever incurred. Charges for services not indicated in this guide are available on request. Charges are effective as of August 2016.

    For any enquiries on charges, please call 800 ASEEL (27335). Other terms & conditions apply.

    FREQUENTLY ASKED QUESTIONS

    About Aseel Business Credit Card

    WHAT IS THE ASEEL BUSINESS CREDIT CARD?
    It is a dynamic Shariah-compliant credit card by Aseel, that comes with a competitive profit rate. The card is structured based on Murabaha contract where it provides you ready liquidity through sale and purchase transactions of specified Shariah-compliant commodities. It also gives you great benefits and discounts with its cost-saving business schemes.
    HOW IS IT DIFFERENT FROM PERSONAL CREDIT CARDS?
    This card is issued to your company, in particular to one key man (primary cardholder) with supplementary cards issued to the other business partners or employees. This helps you segregate your company expenses from personal credit card expenditure.
    WHO CAN APPLY FOR THE ASEEL BUSINESS CREDIT CARD?

    All companies incorporated/registered within the UAE under the UAE laws with valid trade license, commercial registration and with business(es) operating in the UAE.

    The cards will be issued to individual(s) nominated by the applicant company, namely partners, key person and/or employees who are UAE residents. Residence visa of the card holder(s) should be under the same company sponsorship.

    WHO IS LEGALLY RESPONSIBLE AND LIABLE FOR ALL TRANSACTIONS, CHARGES, FEES AND ANY PAYMENTS INCURRED BY THE USE OF THE ASEEL BUSINESS CREDIT CARD?
    The company and its partners are solely responsible for all transactions, charges, fees and any payments incurred by the use of the Aseel Business Credit Card.

    Multiple Benefits

    HOW MANY PARTNERS/EMPLOYEES CAN I DISTRIBUTE MY CREDIT LIMIT TO?
    You can share your total credit limit with up to nine supplementary cardholders, out of which six are free.
    WHAT IF I WANT TO CHANGE THE SUPPLEMENTARY CARD TO ANOTHER EMPLOYEE?
    Surrender the card to any of our branches/card centres along with an application for card cancellation by the primary cardholder and request a new supplementary card, which is available at a nominal card replacement fee.
    IS THERE A DAILY SPENDING LIMIT FOR MY ASEEL BUSINESS CREDIT CARD?
    No, you can utilise your entire credit limit and once paid back, the limit is available once again for your expenditure.
    CAN I WITHDRAW CASH FROM MY ASEEL BUSINESS CREDIT CARD?
    Yes you can. Up to 90% of your total credit limit is available as cash.

    Security and Acceptance

    WHAT IS THE ASEEL BUSINESS CREDIT CARD CHIP AND PIN FUNCTION?
    Aseel Finance gives you the latest as well as the most innovative global card security features while adding value to your shopping experience. The microprocessor chip on your card secures you against counterfeiting, thus enhancing security on all your card transactions. PIN (Personal Identification Number) set up by you is required to make any cash withdrawal.
    WHO ELSE KNOWS MY PIN AND IS IT SAFE TO REVEAL IT TO ANYONE?
    No one other than yourself knows your PIN and you should never divulge your PIN to anyone including Aseel Finance staff, merchants etc. (Aseel Finance staff will never ask you for your PIN).
    DO I HAVE TO SIGN ON THE SIGNATURE PANEL ON THE BACK OF THE CARD?
    Upon receipt of your new card, you are required to immediately sign on the signature panel on the back of the card using a ballpoint pen. This is for your own security, as this signature will be used for transaction verification at merchant locations.
    IS THE ASEEL BUSINESS CREDIT CARD PROTECTED AGAINST FRAUDULENT USE?
    Yes, our 3D Secure feature will provide you with added security, while an SMS alert will be issued to your registered mobile number as soon as any card(s) transaction is made.
    WHAT HAPPENS IF MY CARD IS LOST OR STOLEN?
    If your Aseel Business Credit Card is lost or stolen, notify Aseel Finance immediately by calling the customer service number 800 ASEEL (27335). You will be charged a minimal replacement fee.
    WHERE CAN I USE THE ASEEL BUSINESS CREDIT CARD?
    Aseel Business Credit Card is globally accepted at over 39 million establishments in 200 countries, and offers cash advance at over 800,000 ATMs around the world. It can also be used at POS and for online transactions.
    WHAT WILL HAPPEN IF THE MERCHANT DOES NOT ACCEPT ASEEL BUSINESS CREDIT CARD?

    All merchants displaying the VISA logo will accept your Aseel Business Credit Card even if they don’t have a chip reading machine. In the absence of a chip reading machine, your card is swiped in the reader and you will be required to confirm your purchase by signing on the receipt. Your purchases will be subject to availability of credit limit in your Aseel Business Credit Card.

    Please note that transactions may be rejected or may not go through if they are not Shari’ah-compliant.


    Please note that transactions may be rejected or may not go through if they are not Shari'ah-compliant.

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