What is Islamic banking?

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Tom 1.09K Rep. Sultanat edited question

What is Islamic banking?



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Jon Richards 917 Rep. Nisha Patel selected as best answer

Islamic finance or sharia-compliant finance is a financial model that operates according to Islamic law (sharia law). Unlike conventional banking products, Islamic banking products such as personal loans or credit cards dont include interest.

In the UAE, you will often find islamic banks such as ADIB and Noor Bank offer the lowest rates on personal loans and car loans.

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