During Ramadan (and also economic uncertainty) let's explore alternative banking the halal way; Islamic banking. 
What Is Islamic Banking?
Islamic banking, also referred to as Islamic finance or shariah-compliant finance, refers to finance or banking activities that adhere to shariah (Islamic law). Two fundamental principles of Islamic banking are the sharing of profit and loss, and the prohibition of the collection and payment of interest by lenders and investors.
One of the primary differences between conventional banking systems and Islamic banking is that Islamic banking prohibits usury and speculation
Shariah strictly prohibits any form of speculation or gambling, which is referred to as maisir. Shariah also prohibits taking interest on loans. In addition, any investments involving items or substances that are prohibited in the Qur'an—including alcohol, gambling, pork—are also prohibited. In this way, Islamic banking can be considered a culturally distinct form of ethical investing. 
To earn money without the typical practice of charging interest, Islamic banks use equity participation systems. Equity participation means if a bank loans money to a business, the business will pay back the loan without interest, but instead gives the bank a share in its profits. 
If the business defaults or does not earn a profit, then the bank also does not benefit. In general, Islamic banking institutions tend to be more risk-averse in their investment practices. Islamic banking is open to non-muslims too.
*sources: Investopedia & Emirates Islamic
Where to access Islamic Banking in Kenya
Gulf African Bank
DIB Kenya
National Bank of Kenya
KCB SAHL
ABSA

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