Why aren't there any Islamic Banks in America?

Why aren't there any Islamic Banks in America?

Because they can't outcompete literal money printers that get subsidized directly and indirectly by the federal reserve and the state.

Interest free banking, which is more or less what islamic banking tries to do is not something uniquely islamic.
Way back in ancient greece is was already considered unethical to make money from just having money, i.e. interest.
It was also banned for long periods during the holy roman empire.
Most anti interest laws were abolished in the 19th century. Cohencidentally around the same time that the Rothschild's emerged.
Gottfried Feder did nothing wrong, and his manifesto is still relevant to this day.

The real answer is that their fee structure is completely illegal in places that police stupid fees. Islamic banks make lots of money just like kike banks, except instead of ursury, they simply charge ridiculous fees for everything. Everything.

It isn't all flowers and sunshine, and beneath the surface its just as corrupt and fucking stupid as you could possibly imagine, just like every other facet of islam. As always, Islamofascists like to portray their garbage dump as a field of flowers soaked in sunshine.

There are in fact many Islamic banking options in the USA that are supposedly in accordance with their Sharia law. It's just that they are subsidiaries of larger entities, and offset the cost of providing non-interest bearing accounts through juggling their system of fees through other non-banking entities.

>Islamic bank
How in the name of barack hussein obama do these work?

Islam only cares about slavery and controlling women. They are subhumans with no talent. They interbred with whites thousands of years ago to steal their intelligence and likeness, but it failed. Now they are the mexicans of the east.

Islam is cancer.

Interest payments are not making money merely from having money. They are payments for both engaging in risky activity and foregoing present consumption.

Do you mean Syarii banking? It's not a profitable business model and it's a gimmick to bait muslims to give their money to the banks.

Ah, the risky business of a too-big-to-fail bank lending money to a government.
And since most money getting lend out is created on the spot there really isn't any consumption getting postponed.
Mortages are low risk as well since it is by definition backed by the asset, so zero risk in that regard. Damage to the property should be covered by an insurance obviously.

Why would I store my money in an Islamic bank when I can't make money from it? I'm not even beating inflation at that point.

"thousands of years ago" whites were living in wooden shithuts while the middle east and north africa had cities and (for then) advanced technology

It's the other way around, whites managed to civilize themselve becaus these technologies spread to them, first to greece, then to italy, then to the rest of europe

>"thousands of years ago" whites were living in wooden shithuts while the middle east and north africa had cities and (for then) advanced technology
WE

>risky activity
Fuck. It's so risky holding onto literal social value.

>foregoing present consumption
Guess (((they))) shouldn't be inflating their currency to shit then huh

WUZ

Because you like money being funnelled to pias muslim warriors?

>being this much of a brainlet

Because the jews beat them to it.

they get around it by paying a dividend or something

I'm from a Muslim shithole and confirm that there is no Islamic bank. They just change the name of "interest" to "profit sharing" and problem solved.

It would be a great benefit to almost everybody if we just dropped the whole interest scheme.
>but muh interest on my savings account
That just barely covers inflation.
I would rather have no interest on my savings and price stability instead of the cancer we have now.

it would be a great benefit to those without capital

Actually true though.

>risky
(((They))) fail, they get bailed out by the same people they were making money from before

>forego present consumption
Im 12 years old and what is fractional reserve

inflation is good for the economy

Good point user , i wonder what happened to the middle east in that time. What kind of ideological change occurred that changed the faith of that region. I want you do say it.

>visit bank
>bank buys the house you want for 100k
>sells it to you for 140k via 140k 0 APR loan
But it's totally not interest guys!

>"thousands of years ago" whites were living in wooden shithuts
Pic related. Seems pretty decent to me.

2/10 made me reply.

KANGZ

>mortgages are low risk
Otherwise I largely agree

Islamic banking follows the laws of sharia and the sunna.

Speculation is formally prohibited.

>controlling women
kek, maybe you should try that you cuck

I should have added "in a stable market" I guess. But banks create those bubbles in the first place with their easy lending practices.
Besides that lending money for capital transactions should be forbidden anyway. Loans should be reserved for things that add/increase value.
In the current system house prices are largely based on what you can get as a loan.
So you end up getting a mortage of 400k for something that involved maybe 80k in labor and materials.

Kill em all

Chainlink

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