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Just got an update from my panel lawyer:

Last year Banks would encourage you to apply for Islamic loan as they will provide:
20% off stamp duty for residential and commercial property

With effective from this year on-wards:
20% off for stamp duty is only applicable for residential loan (Home Financing only)


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Correct me if mistaken. 

I understand Islamic banking does not allow banks to earn interest the conventional way. Hence all the TnC

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syariah term called it profit instead of interest.

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Essentially, the banks just change the term from interest to profit sharing?

And I can see those non-muslim who can open a Syariah account as well.

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@imronaldsoo thanks for sharing