Archive for the ‘Islamic Banking’ Category

Islamic Loans Being Profitable for US Banks

OC Islamic Banking

A customer showed up at little Devon Bank on Chicago’s North Side, asking for a loan to open a neighborhood shop. But there was a hitch, the would-be borrower explained: “We can’t pay any interest. Can you help?” At the time, seven years ago, the answer was: “Nope,” recalls David Loundy, Devon’s vice president and [...]

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