How does Islamic Banking work against normal banking?

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banks make a profit by selling money to people like giving an individual 2000$ but he must return 2100$ later on, in Islamic banks such thing isn’t allowed and I don’t understand how they make any profit

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5 Answers

Anonymous 0 Comments

So basically it’s like this.

The bank buys the house, and then sells it to you at a rate a bit above market price.

They make a lot of profit, they just have their own ways around it. It’s smart actually.

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