system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: What is Islamic Financing?
gpt
Interest is banned under Islamic law so Islamic banking uses other means of profiting from giving loans.

for example, to get the equivalent of the mortgage, the bank doesn't charge interest. Instead the bank buys the house and you agree to buy the house from the bank for a higher price by making regular payments.

The end result is the same but the legal structure of it means that technically it isn't interest.

That's just one example. There are a variety of techniques that are used to effectively charge interest without it being what religious scholars would consider interest.