hhah... like this topic... ok yup... i agree that there r certain practices islamic banking and conventional r the same... but these practices have been converted based on syariah compliance coz all of the conventional concepts use r HARAM for muslims. etc BLR=BFR, MRTA=MRTT, INTEREST=PROFIT BANK. Besides there similarity... there are differences from islamic banking and conventional(especially al-rajhi bank):

1) The process used in islamic banking is trading, so u have right to claim the commodity for ur one purposes. Conventional banks is based on lending.
2) Capping rate- for islamic banks, they can only take profit.. based on their capping rate for example ; alrajhi banks capping rate is 10%. so even the BLR/BFR went over 10%... silamic banks still maintain the same.
3) No Late Payment Charges- For alrajhi bank, if u dont pay your installments 3 months.... they will not charge u any cent... b coz if they charge u, this will consider riba' based on arab saudi's syariah compliance.
4) No Default Rate - Al-rajhi bank dont have default rate. For conventional banks, if u dont pay ur installments for 3 months, the bank has right to change the interest rate without prior notice to the customers. For instance... the campaign price is -2.40%, once u default... the bank willl change the rate given to +2-4%, meaning BLR 6%+4%= 10% u must pay to the bank... AYYYOOO
5)Profit Sharing- If al-rajhi bank is involved in an auction... they will take only the outstanding balance... and the rest will be given to the owner. nice right??

For further information u can contact me:

Nik (0192752857)
Executive Home Finance
umair@alrajhibank.com.my
http://proud2be-alrajhi-homefinancing.blogspot.com/