Woo Hoo! Interest free loans for everybody! /s
I don’t know the details, but an interest free Islamic loan still has expenses with it.
I’ve heard Islamic mortgages are structured so that while there is no interest, you are paying rent on that part of the property which is still mortgaged. So you have a mortgage payment and a related rent payment, in lieu of interest.
Only Muslims. Non-followers pay huge taxes and fees.