Fair Access to Financial Services (OCC-2020-0042-0001) -

DeadFish

I've may have made some mistakes...
kiwifarms.net
It's not about the banking, it's about the payment networks. An Islamic bank is not magically immune from credit card blacklists.
Like I said. A half baked idea. It that the Islamic world has the numbers to compete with woke. So anything meant to serve Muslims (like banking) might be big enough to serve as an alternative to paypal. Beyond that I know jack shit.
 

AnOminous

each malted milk ball might be their last
True & Honest Fan
Retired Staff
kiwifarms.net
There are Islamic banks that "don't" charge interest. Hawala is a value transfer system, not a bank.
Money transfer is one aspect of the general class of activities considered "banking." Any descriptions of the general concept of "Islamic banking" discuss it.
 

hundredpercent

kiwifarms.net
Money transfer is one aspect of the general class of activities considered "banking." Any descriptions of the general concept of "Islamic banking" discuss it.
Hawala isn't done by banks (and these days, heavily regulated). The UX is basically the same as heading over to your local Western Union branch; much worse than cards.

Inasmuch as Islamic banks can process cards, they are beholden to the same regulations as everyone else.
 
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