Which of the following is true of the banks that operate under Islamic law?
A) Islamic banks are not allowed to lend out to private firms.
B) Islamic banks do not function as intermediaries between borrowers and lenders.
C) Islamic Banks are not allowed to offer checking accounts or traveler's checks.
D) Islamic banks are required to offer trade-related services free of cost.
E) Islamic banks do not charge interest on loans or pay interest on deposits.
Correct Answer:
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