 In this module, we would look at another model of Islamic credit cards. A lot of banks, including Islamic banks and other financial institutions, believe that Qard Hassan cannot be used as an effective mode of finance. For the simple reason that the lender gives some amount of money to the borrower and the borrower is required to pay back only the amount which he has borrowed. This is why Qard Hassan is in general not considered as an effective Islamic mode of financing. It is considered as a charitable kind of activity which can be used by anyone, including Islamic banks, as a gesture of goodwill for their customers. One Islamic bank in Jordan actually used the concept of Qard Hassan to come up with an Islamic credit card which was actually very successful at least at the start of the product offering. How did this happen? Islamic International Arab Bank, which is based in Jordan, decided to structure an Islamic credit card based on the idea of an interest free loan. So the credit card holders would not have to pay anything other than what they have spent and there was no card fee, etc. The bank actually made this a financially viable product with the help of a third party. In Jordan, like in so many other developing countries, governments would like to promote financial inclusion. What is financial inclusion? Financial inclusion is that all banks open their accounts with banks. i.e. the people should come into banking net, they should have access to financial services because access to financial services is considered as a good thing for economic growth and development. So that third body, they wanted to promote financial inclusion in Jordan. So Islamic International Arab Bank came up with this interest free credit card making it available to those who did not have a bank account. So they said, you can enjoy this facility from us if you open a bank account with us. So the objective of financial inclusion was achieved. Under this product, IIAB would benefit from transaction fees. Of course, the card holders would use this card to make transactions at store one, two, three or any other store. So the bank would receive the transaction fees. Additionally, the bank would draw down from a facility offered by an independent organization for each dollar spent using the card. So this was actually a factor that contributed to the financial viability of the product. In addition to the transaction fees, the bank actually benefited from the facility offered by an independent organization. The management actually used this card as a pull factor to cross sell its other financial products to the card holder. How? The bank can say that if you use this card for a year and you don't default, then you would be eligible to apply for car financing, you would be eligible to apply for home financing and you would be eligible to have access to other financial services as well. For example, the bank may say that if you use this credit card effectively without defaulting, then after one year, we would be able to offer you car financing. If you continue to use this credit card for three years without default, then you would be eligible to apply for home financing and so on. So this product actually became a very successful product in Jordan and for this, the bank was awarded an award by an independent organization in the United Kingdom. I believe that this kind of Islamic credit cards have a huge potential in a market which is becoming increasingly competitive. Thank you.