Despite the varying prohibitions, some Shariah banks find creative ways to make the equivalent of market interest rates by other means, such as by pegging debtor repayment rates to his or her future profits, or when a bank offers a "hibah, " or gift to those who openanaccount in essence a way of attracting new customers in lieu of interest accruals on savings.
And when you openanaccount, your credit score can take a hit because research has shown that people who opennew accounts tend to be riskier, said Barry Paperno, consumer-affairs manager at Fair Isaac Corp.