Under Islamic banking practices,Muslims prefer to invest in banks that

Question

Quizplus · Accepted Answer

Islamic banking prohibits charging and earning interest (riba), thus traditional savings accounts that offer interest are not an option. Instead, Islamic banks offer profit-loss sharing accounts where customers can invest their savings in businesses that the bank selects, sharing the profits or losses at an agreed-upon ratio. This aligns with the principles of risk-sharing and entrepreneurship in Islamic finance.

Under Islamic Banking Practices,Muslims Prefer to Invest in Banks That