سودی نظام اور اِسلامی بینکاری کا علمی وتحقیقی جائزہ

A Theoretical and Research Review of Usury System and Islamic Banking

Abstract

The usage of Haram income is such an ulceration that even the prayers of the person involved go unanswered; specifically in this regard interest has been referred to as a declaration of war with Allah and His Prophet Muhammad(SAW).The Quran also says that Allah destroys interest and gives increase for charities which translates to the fact that an economy based on interest can never prosper as Allah has himself made a promise of destroying it.For the Prevention of interest and promoting a Halal economy, the Islamic banking has been a breakthrough and a glimmer of hope although it does require more improvements. It is a better and appreciable effort through which getting rid of the Interest based economy would be attainable. InshaAllahTherefore, we should support and encourage the Islamic banking industry and discourage interestbased economy in order to protect ourselves and our future generations from this major sin.