Banks to play active role in development of a viable Islamic economic system

Banks play a crucial role in the development of a viable Islamic economic system. Islamic banking is not just an interest-free banking system, it must also promote the goals of Islam. Steps must be taken to accomplish the Islamization of Pakistan's banking system in a healthy and rapid manner. Ijma (consensus of scholars) is necessary to determine whether modes of financing and banking laws conform to the shari`a. Practical discussions on implementing the system are also necessary. A foolproof Islamic banking system must be developed.