Islamic loans not interest-free loans

A Muslim woman’s call for Muslim-friendly home loans sparked a lot of outrage over the weekend.

Islam teaches that interest is evil, and many Muslims try to avoid situations where they earn or pay interest – including traditional loans and investments. But it’s not completely impossible for Muslims to borrow or invest: “Islamic banking” is a fast-growing sector of the finance industry, offering saving and borrowing opportunities that compensate for risk via a slightly different approach.

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