Shariah-Compliance may have a prohibition against interest, but that sure does not mean that Shariah-Compliant financial institutions won’t charge handsome fees for their services…

Islamic banks such as Albaraka Bank (South Africa) and the Islamic banking windows of FNB, ABSA, Nedbank and Standard Bank have come under heavy criticism from Muslim customers from following the greed culture of conventional banking and in some cases actually charging higher fees and service charges than their conventional counterparts.


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