Islamic banking: an emerging new mode of 'Finanzkapital' in the world

Islamic banking is a new and emerging field. While forces stemming from the dominant West historically have suppressed the principles of Islamic economics, today those principles are being revived. Colonialism has ended and oil money exists in the Muslim world. Now, the move is underway to depose the economic system imposed on Muslim nations. A significant number of Muslims have been known to keep their funds in Western banks while refusing to take any interest from such institutions. Some Muslim countries found it practical to allow non-Muslims to run banks and businesses. The Western banking system lumps the populace into two masses -- savers and investors. The savers get small returns on their money while the investors reap larger sums. The idea of the welfare state has roots in the Islamic institution of zaka . Islamic economic ideas are now being explored. The profit-and-loss system gives contributors a bigger piece of the returns and transforms savers into investors. I