Wa `alaykum as-salamu wa rahmatullahi wa barakatuh.
In the Name of Allah, Most Gracious, Most Merciful.
All praise and thanks are due to Allah, and peace and blessings be upon His Messenger.
In this fatwa:
In his response to your question, Prof. Dr. Monzer Kahf, Professor of Islamic Finance and Economics at Qatar Faculty of Islamic Studies, states:
Islamic banks do not give loans; in Islamic finance banks buy goods and assets and sell them to you on credit. They make profit from the difference between the buy and sell prices.
Some Islamic banks in Malaysia give what they call “personal finance”. They use a trick of buy and sell between the customer and the bank and claim it is not riba. This is called either tawarruq or “bay` al`inah”; it is purely riba hidden in the name of sale and profit which is haram.
Allah Almighty knows best.