Shariah-Compliant Credit Cards: Ethical and Sustainability Perspectives from Brunei Darussalam — A Conceptual Paper

Abstract

This conceptual paper explores the ethical and sustainability dimensions of Shariah-compliant credit cards in Brunei Darussalam, a country where Islamic finance is integral to the national financial system and governance. Despite the growing demand for ethical financial products, limited research exists on how Bruneian banks operationalise Shariah principles in credit card offerings and whether these products contribute to national development goals outlined in Brunei Vision 2035. This study proposes a qualitative approach that combines future semi-structured interviews with institutional actors such as representatives of Islamic banks, regulatory bodies, and Shariah oversight authorities, alongside documentary analysis. This approach will enable deeper understanding of how Islamic banking principles are interpreted in product design, contract structuring, and regulatory compliance, especially in relation to ethical transparency and sustainable consumption. This study is expected to offer important implications for a range of stakeholders. For banks, it underscores the need for transparent contracts and the alignment of product features with responsible consumption and national digitalisation goals. For customers, it highlights the importance of financial literacy and trust in Islamic financial alternatives. For regulators, it recommends stronger governance structures and clearer product guidelines. The findings further suggest that Islamic credit cards can support financial inclusion, digital transformation, and household financial resilience. As this study is conceptual in nature and does not include empirical data, future research should expand the scope to incorporate consumer perspectives, engage a broader range of participants, and undertake cross-country comparisons to enhance the generalisability and relevance of the findings.