It is true that the world economy is infested and saturated with interest. In spite of that, Allah Ta’ala has made interest Haraam (strictly prohibited).
It is also an accepted fact that Allah Ta’ala will never order us to do anything or abstain from anything that is beyond our ability. The same goes with other rulings of Shari?ah. Hijaab is compulsory for women in this world of immorality and nudity, but there is no exception for any woman to abandon the Hijaab. As Muslims, we should strive against the evils of the world to the best of our ability. Many sincere Muslims are doing that and are successful. They live a life of peace and happiness.
Similarly, there is an awakening in Islamic Finance and Economics. Many Islamic banks have been established and are successful, even against the odds of conventional economic schemes. All this is attributed to a handful of sincere and dedicated Muslims. These banks operate on Islamic principles of Murabaha, Mudhaarabah, partnership, etc. These are alternatives of interest and usury.
and Allah Ta’ala Knows Best
Mufti Ebrahim Desai