Insifr

Insifr is the name of the bank that claims to be the first islam friendly bank that will be active in Belgium!

Islam friendly means they will be offering mortgages without interest, and also savings accounts without interest. As the Quran prohibits interest on money. So, the bank will do accounting tricks to still charge people for loans.

The same thing goes up for investments. The mutual funds that will be offered will also be Quran friendly. Investments can’t be in businesses that handle in alcohol, gambling, etc…

A very interesting pioneer for Belgium as I am very curious how this will be profitable for both the stockholders and the customers.

We shall see!

Sincerely,

Pele23

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