Islamic Banking

In this brief epistle, Alahazrat proposes a four-point programme for the upliftment and recovery of Muslims. As one of the key steps, he encourages wealthy Muslims to establish Islāmic Banks and even mentions methods and workarounds [ĥīlah sharýiyyah] for avoiding interest, as described in the Islamic jurisprudential literature. Indeed, he has detailed these in his famous, Kifl al-Faqīh al-Fāhim fī Aĥkāmi Qirţās al-Darāhim, written in Makkah in 1324 AH. Abu’l Ĥasan ...