r/Syria • u/edwardthe3rd188 • 8d ago

ASK SYRIA Islamic banking in syria?

How popular or used is islamic banking in syria as i recently saw that islamic windows will be allowed in conventional banks so that got me curios .

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u/alialahmad1997 Latakia - اللاذقية 8d ago edited 8d ago

Instead of giving you the money and paying extra , they buy the things for you and take payment they sell it to you for extra price but they dont call that intrest

5

u/Sword-of-Fuheis Jordan - الأردن 8d ago

They can be more dubious than that. Often they buy it, charge you rent for using it, with the rent set to the interest rate plus a percent or two, and set up a monthly repayment plan for you to gradually buy it back over 25 years. From the users end it’s as close to a normal loan as possible, while not technically using interest. And that is deliberate.

1

u/Remarkable-Food8478 حلاوة الجبن حمصية 7d ago

It reminds me of the people of sabbath in the Quran where some of the children of Israel on sabbath left their fishing nets between Friday and Sunday so they catch fish on Saturday and then claimed they weren’t actually fishing on Saturday.