AIF Rewards Program - Frequently Asked Questions (FAQs)

1. Rewards Overview

Q1. What is AIF Rewards?

A1. AIF Rewards is a premium loyalty program by Aafaq Islamic Finance PSC for credit cardholders, offering benefits and redemption options for everyday spending.

Q2. Who is eligible for AIF Rewards?

A2. Customers holding an Aafaq Platinum or Aafaq Royal World Elite Credit Card are automatically enrolled upon activating the card.

Q3. Are AIF Rewards transferable?

A3. No, Membership and rewards are non-transferable.

Q4. Can Aafaq change the program terms?

A4. Yes. Aafaq reserves the right to amend, suspend, or terminate the program at any time with or without prior notice.

2. Earning Rewards

Q5. How are AIF Rewards earned?

A5. Rewards are earned based on eligible domestic and international spending.
Domestic Spend: up to 1 Reward per AED 1
International Spend: up to 2 Rewards per AED 1
Monthly Cap: Platinum: 50,000 Rewards & Royal World Elite: 100,000 Rewards

Q6. Are all transactions eligible for earning rewards?

A6. No. Transactions such as fees, cash advances, charity, exchange house transactions, and disputed or fraudulent transactions are excluded.

Q7. What are Low Interchange MCCs, and how do they affect rewards?

A7. These are merchant categories with lower interchange fees. Transactions under these MCCs earn reduced rewards. Examples include utilities, petrol, education, real estate, and supermarkets.

Q8. Can supplementary cardholders earn rewards?

A8. Yes, transactions made by supplementary cardholders contribute to the primary cardholder's rewards.

3. Redeeming Rewards

Q9. How can I redeem my AIF Rewards?

A9. Redemption is available only to the primary cardholder via the Aafaq Digital Mobile App or Internet Banking.

Q10. What are the redemption options available?

A10. You can redeem rewards for:
Flights (750+ airlines), Hotels (700,000+ accommodations), Online Shop (electronics, lifestyle products), Miles Exchange (Etihad Guest Miles & Shukran Points), Cashback, Gift Cards (Amazon.ae, Noon.com), The Entertainer app subscription

Q11. What are the minimum redemption requirements?

A11. Miles Exchange: 5,000 Rewards
5,000 Rewards = 454 Etihad Guest Miles / 833 Shukran Points
Cashback: 13,334 Rewards = AED 100 (in multiples of AED 100)

Q12. Can I cancel or modify a redemption request?

A12. No. All redemptions are final and cannot be cancelled, exchanged, or refunded.

4. Expiration & Forfeiture

Q13. How long are AIF Rewards valid?

A13. Rewards are valid for 2 years from the date they are earned. Unused rewards will expire and cannot be reinstated.

Q14. Under what conditions can my AIF Rewards be forfeited?

A14. Rewards may be forfeited if:
The Credit Card account is closed or not in good standing
Rewards expire
Breach of terms and conditions
At Aafaq's sole discretion for any justified reason

Q15. Where can I track my rewards and expiry dates?

A15. Through the Aafaq digital app or internet banking under the rewards section.