Between consumer demand and Islamic law: The evolution of Islamic credit cards in Turkey

The Sharia-based rules of Islamic banking conflict with market realities. * On credit cards, Islamic banks favor profits over doctrinal purity. * Islamic credit card practices follow those of conventional cards with a delay. * The costs of using Islamic and conventional cards do not differ systematically. * There is no uniformity in Islamic credit card practices across Turkey, Malaysia and UAE. The elimination of interest from financial transactions has been a salient goal of Islamization movements around the world. Its proponents have had to balance this objective, which they claim to draw fr... Mehr ...