In today's economic atmosphere is it possible to establish genuine Islamic banks?

Answer

Islam is the final Deen of Allah Ta'ala. It has solutions and provisions for mankind until the Last Day. It is quite easy to establish proper Shariah-compliant banks. However, wealthy Muslims are not interested in Islamic banks. They are welded to the kuffaar capitalist system. An Islamic bank will be in partnership with investors. It will derive profit from joint -ventures on a partnership basis. They will also be permitted to charge service fees for various services. Presently, the 'partnership' enterprises of the so-called Islamic banks are deceptive stunts. The Islamic terminology utilized to designate the various transactions of these banks is simply to hoodwink the gullible and ignorant Muslim public.