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Why restriction on NetFlix at Meezan Bank?

Meezan Bank is a licensed Islamic bank and as per the regulations and Shariah Compliance Guidelines of SBP, it cannot provide any product or service that is not in line with the Shariah Compliance guidelines.

Similar is the case with Debit Card, the terms and condition of the debit card restrict its user to use the bank’s debit card from using it for non-complaint product or services and bank can restrict the use of its card if the card is used for such services or product or even close the card.

As per the guidelines provided by Shariah experts most Islamic banks are required to restrict its card from usage in Casinos, Bars, gambling, Cinema etc (similarly accounts and financing services are also not provided for such negative professions) and for certain entertainment activities and such vender categories are blocked at Visa or Master card level or such venders are regularly blocked based on complains received by the bank or based on the regular compliance checks.

Some people may disagree with this view but then each organization has its own policies and also regulatory requirements.

The case in point about Netflix which is an online subscription service for Movies and Videos also fall under the category of entertainment services that are not allowed. (It is not a mixed content platform), hence based on customers complains and after compliance review the bank was required to block Netflix as part of its regulatory and Shariah Compliance requirement.

by Ahmed Ali Siddique

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