Payment practices vary around the world.Islamic law is interpreted by many Muslims to mean that interest payments are prohibited by the Koran.In practice,this means that in countries that practice Islamic law:

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In countries that practice Islamic law, borrowing is done by lending arrangements that pay the equivalent of interest. These arrangements are called "Islamic finance" and involve contracts such as profit-sharing agreements, leasing, and sale contracts with deferred payment. These contracts are structured to avoid charging interest, but they achieve the same economic outcome as interest-based financing.

Payment Practices Vary Around the World