There is one advantage to Islamic finance that other banking niches can’t quite claim.
“Islamic finance is the completion of a person’s identity,” said Fares Mourad, head of Islamic banking at Bank Sarasin. “A Muslim client may feel the need to have financial transactions permissible by Islamic law, if everything else in life follows the Islamic way.”
Islamic banking provides products and services that comply with Islamic, or Sharia, law. Broadly, Islamic finance tries to include concepts of social benefits of the individual and the overall wellbeing of society into banking and financial transactions.
At the crux of the Islamic model is the tenet that banks operate with no interest. They are not allowed to charge interest on loans.
Alfalah Consulting: http://alfalahconsulting.com