Standard Chartered Saadiq Mastercard Platinum Credit Card Features

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Earn maximum cashback up to PKR 1,000 per month when you spend on grocery and fuel transactions.

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Fixed Monthly Fee Regardless of Outstanding balance.

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Enjoy making convenient flight or hotel or get pre-trip information from our dedicated conceirge services.

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Complimentary access for you to 25+ international lounges with access to business facilities and complimentary snacks.

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Enjoy Buy-1-Get-1 offers at 2300+ brands by downloading the Priceless Specials app and registering with your Mastercard.

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Exclusive access to 1000s of experiences and benefits on dining, travel & entertainment in over 40 cities worldwide.

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Book a roundtrip international air-ticket or hotel from Cleartrip’s website and use code MASTERCARD to get upto 30% off

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Get VIP access and upto 15% off at the most luxurious shopping experience around Europe’s Bicester Village Collection

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Enjoy an exclusive 10% discount when you book your preferred ride with using your SC Saadiq Platinum credit card

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Shop at the leading luxury fashion platform with 700+ international brands, and get 10% off on using the code MC10MEA.

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Your purchases are protected in case of theft or accidental damage upto 180 days for upto $2000/claim (max $5000 p.a.)

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Book your next vacation on and enjoy 10% money back at 1000s of properties locally and around the world.

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Get up to 15% off your next car rental, and a complimentary upgrade with every rental worldwide!

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Enjoy 2 months of Lingokids for free for new users and get 30% off monthly subscriptions for new and existing users!

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Shop over 100,000 MyUS retailers with Free Premium Membership, account set-up and 30% off shipping to anywhere, with your SC Platinum Mastercard.

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  • SCB strives to provide you with the best experience and the best value for money. Our new proposition with Mastercard is designed to bring you exclusive offers, perks, and privileges to provide you with an enhanced experience on your everyday spend
  • The ultimate purpose is to further increase the convenience and security you enjoy while making payments.
  • Your card will be converted from Visa to Mastercard
  • Your card will be Saadiq Mastercard Platinum card which will be based on the similar Ujrah structure that was offered under your current Visa credit card.

Kindly ensure that you have communicated your up-to-date details to the Bank, such as your address and your mobile number.

Cards shall be sent by courier to the address recorded with SCB. Please confirm that we have your correct address

  • Yes, you will be able to use your old credit card till you choose to activate your new card.
  • Your Visa Credit Card will be deactivated with the activation of the new Mastercard Credit Card

When a credit card is replaced, the transaction history will be removed from SC mobile and online banking. You will only be able to see the balance transfer entry. The month end credit card statement will have full details of the transaction history from the old card and any relevant transactions from the new card for the respective statement period.

We would recommend that you activate your new card to seamlessly continue to pay your bills via SC Mobile and Online Banking.

Your new Mastercard credit card has a number different than your previous card. Therefore, if you provisioned your old credit card number in any digital wallet, stored it with any websites for automated bill payments or used it to set up a recurring payment on SC Mobile app or Online
Banking, please remember to replace it with the details of this new card

Yes – your existing balance, cashback/miles and AI will automatically transfer over to your new Mastercard credit card as soon as you activate the card.

Annual fees will be the same for the first year as currently applicable to your Card. From next year, it will be charged as per the Bank’s SOC.

  • You can refer to the latest Schedule of Charges to know about the annual fees for your Card.
  • For Saadiq Cards, annual fee is outlined in the Saadiq Schedule of Charges.
  • No – your annual fee cycle stays as it was on your existing card and you will not be required to pay any annual fee before your existing annual fee cycle date.
  • For illustrative purposes, you paid your VISA card annual fee on the 30th of May 2021 and received your new Mastercard today. Your next annual fee will be charged on 30th of May 2022 and not before.
  • Contactless is a fast, easy and secure way to pay for small amounts payments.
  • The contactless device contains an antenna so that when it is touched against a contactless terminal, it securely transmits purchase information to and from the terminal.
  • The following contactless indicator on the front or back of your card.
  • Your new Mastercard Credit card comes with new benefits – for both here and abroad. When you use your credit card, the money comes out of your SCB account. Use it to pay for groceries, petrol, plane tickets, online shopping – whatever you need.
  • It is also secure and easy just tap and pay wherever contactless cards are accepted. You can also use it to get cash at ATMs worldwide.

All Mastercard credit cards come with unsurpassed protection. Your account is protected by your personal PIN. The card itself has Chip Technology – the strongest security in any card. And your online shopping is protected by Mastercard SecureCode, an extra layer of security

Use your card anywhere Mastercard is accepted. Mastercard is accepted at over 36 million locations and millions of ATMs worldwide. This reduces the stress related to carrying large amounts of cash, which if lost or stolen is gone forever.

Yes, you will be prompted to create a new PIN upon card activation.

No – your old card will be blocked as soon as you activate your new card.

  • Security features such as Chip and PIN.
  • Contactless card.
  • Global acceptance on POS and ATM
  • Secure online transactions
  • Travel and lifestyle benefits (based on product type)

Spend on your Credit Card and earn Cashback automatically based on the following spend:

  • i. 5% Cashback on fuel and groceries

As a Platinum cardholder, you receive:

  • Unlimited, complimentary access for you to over 25 regional and international LoungeKey, Marhaba, and CAC lounges across UAE, Saudi Arabia, Jordan, Kuwait, Egypt, Morocco, USA, UK, Canada, Germany, France, Singapore, and more
  • Access to business facilities — email, internet, phones, fax machines, and conference space in some lounges
  • Complimentary refreshments and snacks
  • Register on Mastercard Airport Pass, powered by Dragonpass by clicking here.
  • Show the QR at a participating lounge
  • Register with your Mastercard or Masterpass and enjoy over 2300 Buy 1 Get 1 offers on dining, fashion, entertainment and more – powered by Vouch365
  • All customers using Priceless Specials Vouch365 Mobile application on their Smartphones are automatically Vouch365 Members and entitled to offers and additional benefits
  • Download the Priceless Specials Pakistan mobile app to view all the offers
  • Register to access exclusive Buy 1 Get 1 offers
  • Redeem the voucher to get back more
  • Pay instantly via Mastercard or Masterpass

Priceless Cities is a unique collection of thousands of experiences and offers in over 40 cities and countries around the world, specially tailored for Mastercard cardholders

  • Visit
  • Register
  • Choose your place of interest

As part of our efforts to go green, the following will no longer be included within the Credit Cards welcome pack:

Product Terms and Conditions for your Credit Card which contain all the terms this product is governed by can be found in the “Important Documents” tab above.
Product Features Catalogue, details regarding all features and benefits that you can enjoy on your Credit Card are available on this page for your reference. For details, you can find the entire catalogue here.

If you would ever need more help with your Credit Card, please call our 24-hour Client Center at 111-002-002.

What is Islamic Banking?

Islamic banking is a system of conducting banking activities in line with the principles of Shariah while avoiding all the prohibited activities such as
Interest/Riba, Gharar* (uncertainty), dealing in prohibited businesses (e.g. alcohol, gambling), etc.

‘Interest free banking’ is just one of the pillars of Islamic banking. Islamic banking means not only to avoid interest-based transactions, but also to avoid unethical and socially unacceptable practices prohibited in Shariah, such as unfair trade practices, hoarding, speculation, etc.

Hence, Islamic banking transactions are based on ‘tangible assets and real services’ as opposed to ‘conventional money lending’

* Gharar: The uncertainty that is present in the basic elements of an agreement (i.e. wording of the agreement, subject matter, etc.)


Is Islamic banking meant only for Muslims?

The teachings of Islam are meant for both Muslims and non-Muslims. Universal values like honesty, justice, avoiding fraud, etc., form the basic principles of Islamic banking. Therefore, Islamic banking is for everyone irrespective of what religion they follow. Furthermore, it increases the growth of an economic system.


What is meant by Shariah?

Shariah means a “Way” or “Path”. In Islam, Shariah means guidance and laws given by the Holy Quran and the Hadith/Sunnah of the Holy Prophet (Peace Be Upon Him). It also includes juristic interpretations of Islamic scholars. Islamic Shariah is derived from the following four sources:

  1. The Holy Quran
  2. The Sunnah of the Holy Prophet (Peace Be Upon Him)
  3. Ijma’ (consensus of the Mujtahideen – ‘Independent Jurists’)
  4. Qiyas (Analogy)


What is Riba or Interest?

“Riba” means excess, increase or addition. As per Hadith of the Holy Prophet (Peace Be Upon Him), “Every loan that derives a benefit (to the lender) is Riba”. Therefore, interest means giving and/or taking of any excess amount in exchange of a loan or on debt. Hence, it has the same meaning as that of Riba.


What are the different kinds of Riba?

According to Islamic jurists, there are two types of Riba: (1) Riba Al Nasiah and (2) Riba Al Fadl.

  1. Riba al Nasiah (also known as Riba or Sood):
    This refers to any increase or addition of debt. It means “addition or premium” that must be paid by the borrower to the lender along with the principal amount as a condition for the loan or debt.
    Example of Riba al Nasiah: Mr. A lends Rs.10,000 to Mr. B with the condition that Mr. B shall return back Rs.12,000 after one month. In this case, the premium (Rs. 2,000) paid by Mr. B to Mr. A is Riba or Interest
  2. Riba al-Fadl:
    The prohibition of this Riba is based on Sunnah. Hence, it is also called Riba al Hadith. Riba al-Fadl refers to the excess or increase which is taken in exchange of specific homogeneous commodities and encountered in their hand-to-hand buy and sell. This is explained in the famous Hadith:
    The Prophet (Peace Be Upon Him) said, “Sell gold in exchange of equivalent gold, sell silver in exchange of equivalent silver, sell dates in exchange of equivalent dates, sell wheat in exchange of equivalent wheat, sell salt in exchange of equivalent salt, sell barley in exchange of equivalent barley, but if a person transacts in excess, it will be usury (Riba). However, sell gold for silver anyway you please on the condition it is hand-to-hand (spot) and sell barley for date anyway you please on the condition it is hand-to-hand (spot).”


What are the revelations / verses in Holy Quran and Sayings / Ahadiths of our Holy Prophet (Peace Be Upon Him) regarding prohibition of Riba / Interest?

The prohibition of Riba has been announced in Quran and Ahadiths. There are four sets of revelations about Riba which were revealed on different occasions:

First Revelation:

In Surah Ar-Rum, verse 39, dealing in Riba has been discouraged in the following words:

“Whatever Riba (increased amount) you give, so that it may increase in the wealth of the people, it does not increase with Allah; and whatever Zakah you give, seeking Allah’s pleasure with it, (it is multiplied by Allah, and) it is such people who multiply (their wealth in real terms)”

Second Revelation:

In Surah An-Nisa, verse 161, Muslims were informed about the practice of taking Riba by Jews:

“and for their charging Riba (usury or interest) while they were forbidden from it, and for their devouring of the properties of the people by false means. We have prepared, for the disbelievers among them, a painful punishment.”

Third Revelation:

In Surah Al-Imran, verse 130, Riba/Interest was abolished in the following words:

“O you who believe, do not eat up the amounts acquired through Riba (interest), doubled and multiplied. Fear Allah, so that you may be successful.”

Fourth Revelation:

In the Surah Al-Baqarah, verse 275-281, Riba has categorically been prohibited in all its forms.

“Those who take Riba (usury or interest) will not stand but as stands the one whom the demon has driven crazy by his touch. That is because they have said: “Sale is but like Riba”, while Allah has permitted sale, and prohibited Riba. So, whoever receives an advice from his Lord and desists (from indulging in Riba), then what has passed is allowed for him, and his matter is up to Allah. As for the ones who revert back, those are the people of Fire. There they will remain forever. [275] Allah destroys Riba and nourishes charities, and Allah does not like any sinful disbeliever [276].

Surely those who believe and do good deeds, and establish Salah (prayer) and pay Zakah will have their reward with their Lord, and there is no fear for them, nor shall they grieve. [277] O you who believe, fear Allah and give up what still remains of Riba, if you are believers. [278] But if you do not (give it up), then listen to the declaration of war from Allah and His Messenger. However, if you repent, yours is your principal. Neither wrong, nor be wronged. [279] If there is one in misery, then (the creditor should allow) deferment till (his) ease, and that you forgo it as alms is much better for you, if you really know. [280] Be fearful of the day when you shall be returned to Allah, then every person shall be paid, in full, what he has earned, and they shall not be wronged. [281]”

According to Islamic jurists and scholars, there are around 40 different Ahadiths of Holy Prophet (Peace Be Upon Him) on the subject of Riba and its prohibition.

Few of them are as follows:

  1. Jabir ibn Abdullah (Allah Be Pleased With Him) narrated that the Prophet (Peace Be Upon Him), cursed the receiver and the payer of interest, the one who records it and the witnesses to the transaction and said: “They are all alike [in guilt].” (Al Saheeh al Muslim, Jam e Tirmidhi and Musnad Ahmad)
  2. Abu Hurayrah (Allah Be Pleased With Him) narrated that the Prophet (Peace Be Upon Him) said: “On the night of Ascension I came upon people whose stomachs were like houses with snakes visible from the outside. I asked (Gabriel) who they were. He replied that they were people who had received interest.” (Sunan e Ibn Majah and Musnad Ahmad)
  3. Abu Hurayrah (Allah Be Pleased With Him) narrated that the Prophet (Peace Be Upon Him) said: “Riba has seventy segments, the least serious being equivalent to a man committing adultery with his own mother.” (Sunan e Ibn Majah)
  4. Abu Hurayrah (Allah Be Pleased With Him) narrated that the Prophet (Peace Be Upon Him) said: “There will certainly come a time for mankind when everyone will take Riba and if he does not do so, its dust will reach him.” (Sunan e Abu Dawud and Sunan e Ibn Majah)

Therefore, all Islamic jurists have consensus that interest is Riba in all its forms and manifestations.

Quranic Verse’s translation from “The Meanings of the NOBLE QURA’N with explanatory notes by Mufti Muhammad Taqi Usmani”.


Are Islamic banks not just paying interest and dressing it as profit on trade and investments?

This is not the case. Islamic banks accept deposits from customers on profit and loss sharing or on the basis of “Qard”. These funds are used in Shariah compliant modes of finance, trade or investment. The income generated by these Shariah compliant modes are then distributed among the depositors as profit


How can Islamic banks be considered Islamic when they are using an interest based system (KIBOR) as a benchmark while determining profit?

As we all know, the Islamic banking industry is in its initial development stage. Ideally, Islamic banks should have their own KIBOR equivalent benchmark system. However, the nature/structure of the transaction determines its validity and using an interest rate benchmark for determining the profit of any permissible transaction does not render the transaction as invalid or Haram.


Why is the end result of Islamic banking and conventional banking the same. What is the difference between the two?

The validity of a transaction does not depend on the end result, rather it depends on the process and the sequence of activities performed in reaching the end. If a financial transaction is done according to the rules of Islamic Shariah, it is Halal even if the end result of the transaction may look similar to a conventional Banking transaction.

For example, the meat of a goat which is not slaughtered according to the principles of Islam and the meat of a goat which is slaughtered as per Islamic principles may look similar, smell similar and taste similar, but the former is Haram (prohibited) and the latter is Halal (allowed).

The same example can be used for Islamic and conventional banking as well. Making a transaction valid or Halal will depend on the process and sequence of transactions and not the end result. Hence, on face value, Islamic banks may look similar to conventional banks, but the contracts and product structures used by Islamic banks are different from conventional banks.

Furthermore in the verse 2:275 of the Holy Quran, Allah has responded to the apparent similarity between trade and interest by saying that He has permitted trade and prohibited Riba (though they may look similar).


What is the difference between conventional banking and Islamic banking?

The following are the main differentiating points between conventional banking and Islamic banking.

1 Money is a commodity as well as a medium of exchange. Therefore, it can be sold at a price higher than its face value and it can also be rented out. Money is not a commodity. It is only used as a medium of exchange. Therefore, it cannot be sold at a price higher than its face value or rented out
2 Profit is earned by charging interest on capital. ‘Time value’ is the basis for charging interest on money/capital. Profit is earned through trade of goods or charging for providing services.
3 Interest is charged even in case the organisation suffers losses by using the bank’s funds. Therefore, it is not based on profit and loss sharing. Islamic banks may operate on the basis of profit and loss sharing. If the business has suffered losses, the bank will share these losses based on the mode of finance used (e.g. Mudarabah and Musharakah).
4 While disbursing cash finance, running finance or working capital finance, no agreement for exchange of goods and services is made. The execution of agreements for the exchange of services is a must while disbursing funds under Murabaha, Salam and Istisna contracts
5 Conventional banks use money as a commodity which leads to inflation. Islamic banking tends to create link with the real sectors of the economic system by using trade related activities. Since money is linked with real assets, it contributes directly to economic development.


Shariah Compliant Modes of Banking & Finance

Investment / Participatory Modes


Mudarabah is an arrangement in which a person (called Rab-ul-Mal) participates with his money and another person (called Mudarib) participates with his efforts. The parties agree, at the beginning, on a profit sharing ratio between them


Musharakah is a partnership contract. The profits are shared as per agreed ratios between partners and losses are borne in proportion to their respective capital contributions.

Diminishing Musharakah:

Diminishing Musharakah (DM) is a form of co-ownership in which two or more persons share the joint ownership of a tangible asset (e.g. house) in an agreed proportion. It is agreed that one of the co-owners will purchase, in periodic instalments, the share of the other co-owner until the ownership of that tangible asset is completely transferred to the purchasing co-owner. Furthermore, along with the purchase of share, the (purchasing) co-owner will also make periodic payments for the usage of other co-owner’s share in the asset.


Trading / Sales Modes


Murabaha means sale of goods where the seller is obliged to disclose to the buyer the cost of goods sold. The sale could either be on cash or on a deferred payment basis. The parties agree on the cost of goods sold and the profit margin included in the selling price.


Musawamah is the general sale of goods whereby the seller is not obliged to disclose to the buyer the cost of goods sold.


Salam is a sale transaction in which the seller agrees to supply specific goods to the buyer at a future date against an advance payment which is fully paid at spot. The basic purpose of Salam is to meet he needs of the small farmers for the production of agricultural products.


Istisna is a sale transaction where a commodity is transacted before it comes into existence. In Istisna, the buyer is given an order to manufacture a specific commodity. Following are necessary conditions for Istisna:

  • Price is fixed with the consent of parties.
  • The specification of the commodity to be manufactured must be agreed between parties.


Ijarah is a type of rental contract whereby the owner of an asset (e.g. car), transfers the right to use to another person for an agreed period and price


Fee / Service Modes


Wakalah is an agency contract in which one person appoints another person as his agent to perform a certain task on his behalf on agreed terms and conditions, usually against a certain fee. A contract of Wakalah can take place only in respect of such acts which the principal is competent to perform himself, provided such act can be performed by the agent.


Kafalah is a contract in which a third party becomes surety i.e. provides guarantee for the payment of debt on behalf of the debtor. It is a pledge given by a third party to a creditor to the effect that if the debtor defaults in payment of the debt, it will be paid by said third party as Kafeel or guarantor

Saadiq Platinum Credit Card Credit card that provides you with discounts at selected outlets.
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