| From Persfin.co.za: Islamic finance is quickly breaking out of its niche in the financial world and becoming a respected part of the mainstream. Personal Finance explains how interest-free banking works, the ethical principles behind it, and what is on offer in South Africa.
Those of us brought up in the Western way of doing business may find it difficult to understand how sharia-compliant banking – banking according to Islamic law, which forbids the paying or receiving of interest, among other things – could possibly work. How can one do banking without the use of interest?.............................................Full Article: Source
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