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Interest-free banks owned and managed by its members

by 8-BIT BOBBY Nov 14, 2020 2 Comments 2 Links

#bank, #business, #investment, #money, #mortgage, #religion,

Surprised this hasn’t been done for some organized religions that don’t like money lenders.

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2 Links and 2 Comments

MeterMan on November 14, 2020 at 11:28 pm
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Idea: Interest-free banks owned and managed by its members
Link: https://money.howstuffworks.com/start-bank...
You would have to do it yourself, which you can. and which is how some religious networks bank.

Can You Really Start Your Own Bank?
Link: https://money.howstuffworks.com/

Sure, you can start your own bank. Well, you can as long as you have enough money. And a solid business plan. And the courage to make it through the byzantine startup process.

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Stella on November 14, 2020 at 10:32 pm
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Idea: Interest-free banks owned and managed by its members
Link: https://www.sciencedirect.com/science/arti...
Often though Islamic banking was “interest-free”. but according to this it isn’t, and I don’t know if it can exist can it?

” A unique feature of Islamic banking, in theory, is its profit-and-loss sharing (PLS) paradigm. In practice, however, we find that Islamic banking is not very different from conventional banking. Our study on Malaysia shows that only a negligible portion of Islamic bank financing is strictly PLS based and that Islamic deposits are not interest-free, but are closely pegged to conventional deposits.”

Islamic banking: Interest-free or interest-based?
Link: https://www.sciencedirect.com/sc

A unique feature of Islamic banking, in theory, is its profit-and-loss sharing (PLS) paradigm. In practice, however, we find that Islamic banking is nâ¦

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