Islam doesn't have interest in the sense of an American-style simple interest loan, but it certainly does have charges for borrowing. There's no real meaningful

Islam doesn't have interest in the sense of an American-style simple interest loan, but it certainly does have charges for borrowing. There's no real meaningful difference other than when the interest is charged; in a lump sum at the beginning for Islamic banking, or spread out throughout the loan for American banking. e.g.: http://en.wikipedia.org/wiki/Murabahah http://en.wikipedia.org/wiki/Murabahah