4 ms·
http://muslimmatters.org/2010/07/15/the-failure-of-islamic-finance/ http://muslimmatters.org/2010/07/15/the-failure-of-islamic-f... Islamic banks do not provid
by nimos 10y ago
http://muslimmatters.org/2010/07/15/the-failure-of-islamic-finance/ http://muslimmatters.org/2010/07/15/the-failure-of-islamic-f...
Islamic banks do not provide interest free money. They just use a variety of different legal structures so that there isn't anything explicitly called interest in the agreements. Usually involving the bank buying the asset and selling back to the borrower at an inflated price.
- sremani 10y agoThey seem to replace interest with fees or commissions.