Actually, it is very similar to normal banking. Everything is near the same but they are calling it different. Like they are giving dividends instead of interest but the ratio is always very near. At the end you are getting the same or very near amount of money back for putting in on an Islamic or regular bank. Only your profit's name is different
normal or conventional banking always gives interest to their customers, indeed I am not too familiar and do not understand the mechanism of this project, but if they provide interest it is very clear that it is prohibited in Islam. apart from all this clearly it takes time to research it, whether it is in accordance with Islamic advice or not.
Islamic laws prohibit to gain interest when you have a bank account? Someone made this thing up or is it real? Not every state in north africa and middle east are under the sharia law by the way
in fact, islamic bank still make interest from their operation. different between normal bank and islamic bank is on their agreement as fas as i know.
in indonesia, islamic bank charge lowest interest in loan, share profit on invest, etc. i haven't detail about it, but as far as i know, islamic bank charge low fees for every tx.
