Islamic banks in Turkey outperform interest-based banks, shaping future financial landscape.
Islamic banks in Turkey, which operate without charging or paying interest, are becoming more popular. A study compared these banks with traditional interest-based banks to see which is more profitable. The researchers found that Islamic banks can be just as profitable as interest-based banks, and they use unique financing techniques to achieve this. Islamic banking is expected to grow significantly in Turkey in the next decade, making up a significant portion of the banking system.