Starting the Development of an Interest-Free Economy (Part 2)

The basic resources of Islamic law or fiqh do not provide express answers to each and every problem emerging out of modern conditions. However, they have laid down a set of principles on the basis of which one can find the answer to questions arising out of new problems. But the application of those principles to new situations requires a deep study of both Islamic jurisprudence and the modern pattern of human life. The exercise can only be undertaken by those individuals who are well-versed in Islamic jurisprudence and are also well-acquainted with modern economic problems.....