Insha

Revolutionary interest-free banking

1 follower

Revolutionary interest-free banking

1 follower

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Savings apps

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Online banking

Revolutionary interest-free banking is now your companion in the digital world. You will save the time previously wasted on waiting lines. You will safely manage your savings. Soon you will be able to get your private banking service!

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Hey makers, Can you tell us more about what you've built here and how it changes banking, esp in Europe.

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8yr ago

@jacqvon Insha is Europe's first interest-free digital banking services and is here to give you all the financial support in your busy day with a sense of keeping pace of the world. Insha is powered by Albaraka Turk Participation Bank, the pioneer of non-interest banking, and decide to carry out its experience and expertise, gained in more than 30 years, beyond the borders with the newest and the most dynamic way. It is very easy to be a customer of Insha. You will only need to spare 8 minutes of your time to open an account. With mobile application and online banking it is very simple to use. It provides safety banking services. Insha is dynamic and energetic. The financial transaction processes are plain and transparent. Insha place the daily life of a Muslim in the center of its interest. With its surprising applications you would be the first informed about the cultural activities in your city, the restaurants which offer halal food, traffic and weather reports, the prayer time and also many other things will help to catch up with life. Furthermore your yearly alms will be calculated for you thus you could help to the people who need with a peace of mind.

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8yr ago

@jacqvon @talha_erdogan What do you mean with Interest-free? How is this better than Revolut or N26? I tried to have a look at your website but the only benefits I see are the 8minutes to open a bank account, and frankly speaking I would rather spend more than 8 minutes comparing features and benefits with respect to your competitors than ending up with a bank account I won't use.

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8yr ago

@jacqvon @saverio_murgia Insha is not doing traditional banking. It works on the principle of an interest free banking which is also called participation banking or Islamic banking. Interest free banks make available accounts which provide profit or loss instead of interest rates. The banks use this money collected by them and invest in something that is shariah compliant, that is not haraam and does not involve high risks. Thus, businesses involving alcohol, drugs, war weapons etc. as well as all other high risk and speculative activities are prohibited. Interest-free Banking, therefore, acts as an agent by collecting the money on behalf of its customers, investing them in shariah compliant projects and sharing the profits or losses with them. After all, our target customers who are sensitive at “Riba” or “interest” and thus may not prefer to work with conventional banks.

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8yr ago

@jacqvon @talha_erdogan Understood. I am not familiar with religion therefore I was not aware of the need for this kind of banks. The target niche was not very clear to me from the website either. Best of luck!

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8yr ago

@jacqvon @saverio_murgia Thanks Saverio, it is nice to have your feedback, we will consider them to make our statements clear!

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8yr ago

Turkish bank Albaraka Türk will bring interest-free digital banking to Germany and other European countries by cooperating with Berlin-based fintech startup Solarisbank. The target group is millions of Turkish origin EU citizens and other Muslim communities.

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8yr ago