Islamic banking has become a substantial industry over the last four decades. It’s central component: the avoidance of interest. Does its emergence segregate Muslims from Western values and norms, creating a financial ghetto?

I contend that as increasing numbers of people in the West become dissatisfied or skeptical about the banking services they receive, and see them as exploitative or even unethical, the emergence of Islamic banking with its own distinctive morality could help project a much more positive face to Islam. Islamic banking and finance can help foster dialog between Westerners and Muslims.


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