A Halal credit card?

The North American Credit Card industry has hit a new low...

As North Americans violently choke on high credit card interest rates and collection calls, a Canadian company called UM Financial is getting ready to launch a "Halal Approved" credit card to Canadian Muslims.

The card is considered Halal Approved because consumers are not charged any interest; therefore, it does not violate any religious usury laws.

In fact, the iFreedom Plus MasterCard won't charge a monthly fee or any transaction fees for that matter, and it will even provide flight discounts with Etihad Airways. This makes me wonder how this company intends to make any money at all, but I assume that like any good credit card company they have enough fine print to safely rip these people off while making them feel great about it :).

Allah would be proud.