By Christopher W. Holton

Linked below is a page on the Dubai Islamic Bank web site which purports to promote and explain Shariah-compliant car loans which, ostensibly, avoid interest charges.

To be completely honest, we can’t make heads or tails of it, but one thing seems readily apparent: no one at Dubai Islamic Bank is giving away free money for folks to buy cars. So when you see references in Islamic and financial media to “interest free” loans, keep that in mind…

http://www.souqalmal.com/ae-en/car-loans/dubai-islamic-bank-al-islami-used-car-finance

 

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