How does Islamic Banking work against normal banking? 560 viewsJanuary 3, 2024 Question100.55K March 20, 2022 0 Comments 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 In: 2 5 Answers ActiveNewestOldest Anonymous Posted March 20, 2022 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. You are viewing 1 out of 5 answers, click here to view all answers. Register or Login
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