Local commercial banks in Sri Lanka promote them in various ways. These are to gratify the clientele to get hold of them or to honor them for their long time loyalty through which the bank intends to increase it's revenue and also with the intention of expanding it's services. Most of the local banks are inter-mixed with Riba (interest) factor which is not distinct from non Riba money of the clients. Promotions vary in form. It could be:
- promotional goods - travel bag, pen, umbrella, diary or a calender
- foreign travel
- luxury holiday packages to dine or to spend the holidays
- Cars or other expensive household items - refrigerator, microwave owen, furniture
The separation line is vague when you use a particular bank's credit card to get discounts for other goods & services, a topic which has to be discussed in detail.
Above such promotions are tantalizing and it is very hard to say no. But the rewards in the hereafter and the economic benefits for abstinence are far higher than we imagine. Insha Allah a future post is intended on the topic 'interest' in simple economics. Dear fellows please abstain from accepting promotional items and promotional services from interest involved banks to safeguard you from the hell fire.
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