Cash Back Card: An applied jurisprudential study on Kuwaiti Islamic banks

Abstract

Research Main Idea is to state the Islamic Legal opinions as for the cash back card. The research studied types of cash back cards and the jurisprudential characterization applied on these cards and the Islamic legal opinion as for increasing the fees against the cash back service and the Islamic legal opinion as for the cash back when returning back the goods to the dealer and the Islamic legal opinions as for zakat regarding the cash back. The research also studied the practical enforcing of the Islamic legal opinions as for the cash back cards in the Islamic Kuwaiti Banks. The research is important because of the need of those who deals with the banks to know the Islamic legal opinion of the cash back card and to evaluate the products provided by the Islamic Banks. The problem of the research is about submitting the cash back cards by the banks to their clients, what is the jurisprudential characterization of that? And what are the Islamic legal opinions related to the cash back? What is the Islamic legal opinion as for the cash back card in the Kuwaiti Islamic Banks? The aim of the research is to identify the cash back card and its types and to state the jurisprudential characterization of the cash back card and to state the Islamic legal opinions of the cash back card and to state the practical enforcing of the cash back card in the Kuwaiti Islamic Banks. The research adopted the comparative and the analytical and the descriptive method. The main results concluded by the research are: The jurisprudential characterization of the cash back in the credit card is that it is a donation given by the bank to the client. It can also be characterized based upon the case of the requirement to pay the loan by the least amount. The jurisprudential characterization for the cash back in the prepaid card is that it is a donation given by the bank to the client. It is permitted to cash back in the credit card. The outweighing opinion is that it is permitted to cash back in the prepaid card. It is not permitted to increase the fees against the cash back service. It is permitted to cash back in the Kuwaiti Islamic Banks. The research recommends that the Islamic Banks shall commit to the legal opinions of the Islamic Sharia when competition among them and to study the cash back system in stores and shops.