Why Banks Don't Charge Interest

Dubai Bank, Al-Raji Banking and Investment Corporation and Q8 Finance House are all Islamic financial institutions which still adhere to the ideology that charging interest is wrong. You can't go into any of these banks and get a loan or a credit card or even for that matter a savings account. Interest is completely off the table. What they do instead is act as institutions that direct capital towards what they see as wise investments. If you want to go out and buy a home, these banks would not give you a home loan. What they would do instead is buy a house that they feel has a good market potential and make you a deal. People are paying an increment for a property that