u/SomebodyGetAHoldOfJa

Muslims will tell you that Islamic banking is the best form of banking as it charges no interest on loans. Very few, it seems, are aware that you do have to pay a portion of your loan payments towards profit fees (which is essentially interest) to the lender.

Furthermore, the profit fees are higher than your conventional banks interest rates (even a Muslim-run website admits it).

So this begs the question, if Islam is so against Interest, why do their banks charge higher fees than conventional banks? What are the benefits of Islamic banking to Muslims?