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  1. Zia H. Shah

    Quoting from one of my articles:

    It is my belief that further developments in global economy will bring Western interest based economics, Islamic guiding principles about economics and the Chinese experiment to the forefront and require them to offer utilitarian solutions for the future of mankind. Perhaps, some sort of amalgam of the three may offer panacea for the world. However, one aspect is crystal clear in my mind that no one with knowledge of only one or two of these candidates is going to offer useful solutions. Recently, I read that some Muslims have started some sort of interest free banking in France. Many Muslims behave and write just from the conviction of their belief, in problems associated with interest, without understanding the intricacies and basis of the present economic systems. Sometimes they assume, just because they have spoken, somehow, the Western system will melt away. In their tall claims are they casting a spell or providing adequate reasons for evolution of the economic system that has served the West well for three centuries? How often have they given up their special perks because a new kid or claimant is on the block? Isn’t it terribly naive to suggest that the rich and the powerful in the West suddenly give up, what has served them and a lot of masses well for three centuries? It is indeed the very interest based economies that brought the Muslims, as immigrants, to the Western shores in search of better livelihood.


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