Mystery of Islamic Banking

My first connection with Islamic Banking was discussion with our Muslim Driver in Qatar. He was passionate about Islamic banking and its advantages. He told that banking if not done properly will destroy the poor subjects and Allah has laid down strict rules regarding Banking.
I am a layman I had certain questions.

If Islamic Banks does not charge how do they cover their salaries and overheads ,are they profitable.?
I researched some websites , yeah they were profitable.

I checked with some of my banker friends, they straightway advised me to be away from Islamic banks. He said no one knows how they operate? They are just established to fleece away money from wealthy Muslims who consider islamic banking as Halal.

I have certain questions, I know they will never be answered
All the Gulf Countries Major religion is Islam then why Islamic Banking is not compulsory?
Instead of interest rate why they use the word Profit rate?
Why interest rate and profit rate is always same.
If suppose I have cancel the loan wheather I need to return the principal or complete money including the profit rate.
You cannot charge the interest then how come you issue credit charges and put exorbitant charges on that.
When the websites say Shariah Compliant Islamic Banking ?
In banking you need to follow your central banks and the code is quite clear.
Shariah compliance is not quite clear.

We hear in the news papers islamic banking is becoming popular then how come none of my freind have taken Credit Card or Islamic Bank loans .
They must be very busy , because if you call other banks within hours they are on your doorstep for islamic banks they don’t bother to call.

These answers will never be answered , But some one finds the answers I will be obliged to hear those

 

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