Islamic banking is a finance system based on the principles of not charging interest, which is prohibited under Islam. "Research shows that the Islamic finance sector continues to grow and evolve in size and complexity, with Islamic banking offered in more than 60 countries worldwide.
Islamic banks operate without interest, which is not permitted in Islam. Instead, money is generated through profit from investments. Each Islamic bank has a panel of Muslim advisers who ensure that these investments are compliant with Sharia law.
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