Holy Profits

The mirage of Islamic banking.

(Dominika Zarzycka /SOPA Images /LightRocket / Getty Images)

In Dubai’s financial district, gleaming glass towers bear names like Dubai Islamic Bank and Dar Al Sharia. Inside, their brochures promise more than competitive returns; they promise virtue. No interest. No speculation. Finance purified by faith. Islamic finance began as an attempt to resolve a serious religious dilemma: how to enable economic activity while remaining […]

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