According to Investopedia, Islamic banking also known as non-interest banking, is a system based on the principles of Islamic or Sharia law and guided by Islamic economies. Islamic bank makes a profit through equity participation which requires a borrower to give the bank a share in their profits rather than paying interest.
As a Christian, I see what this bank has been able to achieve within the time it has been in existence. My only concern is that there is no such bank as Christian bank that could rival or possibly help to support Christians who may not be able to getting facilities from the regular commercial banks due to high interest rate.
Islamic banks are mostly situated in Moslem dominated areas which make it easily accessible for customers. I understand that Islamic bank is open to all for business but in the world we live today, I believe there might be certain limitations that may hinder a non Muslim from banking with them.
In Africa for instance, there are several billionaire Preachers. This is the time for them all to come together and create one strong and vibrant Christian church that will support small businesses, charity organisations, Christian churches etc.
Kingdom church in the UK is a Christian church and it does all of the aforementioned.
Africa is rich and blessed with wealthy pastors and churches, so in my view, they all need to come together and support this cause which I believe is achievable.
162 days ago
Yes, it will be a good competition to have a Christian bank but I do not think creating more banks is what we need now. Get the economy right and everything will fall in place.
160 days ago