Islamic banking, 0% interest, theo-finance?
Posted: 13 May 2021, 19:56
Risk, return and time-value-of-money are the bases of banking and finance! How is it that predominantly muslim countries managed to get away with charging 0 percent? Where do they even get the deposits?
I am baffled by the concept. Why wouldnt I borrow from an islamic bank at 0, deposit it at a christian bank and make a living off the interest?
I am baffled by the concept. Why wouldnt I borrow from an islamic bank at 0, deposit it at a christian bank and make a living off the interest?