system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: How does banking works interest-free islamic economy? How does a bank earn if there is no interest?
gpt
If everyone is being honest about it, it's just a set of technicalities.

- You don't buy the car for $20,000, we buy the car and you buy it from us for $24,000 in equal $500 monthly payments over the next 4 years. 

- We're not giving you a loan, we're buy a piece of your business that you will buy back from us over time. 

- We don't give you interest on your savings account, we use your deposits to buy asset and give you a profit share.

In reality, these countries all deal in interest anyway. Islamic countries issue sovereign debt all the time, and those bonds pay interest.