The banks know economics better than anyone. This "Sharia-Compliant Products & Services" thing is obviously a ploy to attract muslims, because the bank managers know they will get filthy rich by taking their life savings and investing it elsewhere, moreso than usual by not having to pay any interest and share the wealth.

What bothers me even more is that by doing this Arab banks will reduce costs and may become more competitive than western banks, offering higher interest on non-Sharia-compliant products & services, and drawing more investment from non-muslims. What effects that could have is anyone's guess. It might drive down interest rates on investments here, which are insultingly low already. Or it might raise them.