IDK how halal banks are structured.
Profit has to come from somewhere to incentivize being a bank, beyond the cost of takng risk, employees, buildings, taxes, etc.
Halal banking may explain a part of why the ME region is relatively undeveloped, backward and without a vibrant middle class. Borrowers must be scrutinized more harshly?
No clue how they work. I read that they can now be found in the US, as there is demand for those types of products. Don't even know if "bank" is the correct term for them.
Maybe corporal punishment or imprisonment for default? A painful public humiliation of 20 whacks with the rattan cane? Chop off a hand? Pluck out an eye? Haul your sister away because you used her as collateral for the loan?
Not sure if any of that applies but I wanted to illustrate that halal may exceed the norms of a judeo-Christian nation with constitutional protections.
judeo-Christian
that term is oxymoronic and puke-inducing
with constitutional protections.
Those don't seem to apply as much as they used to for some strange (((reason))).