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Command? Dear Mr President, surely as one who aspires to be a Muslim hero you have read the Quran. Therein stands the clear injunction: Allah has permitted trade and has forbidden interest/usury (2:275). Forbidden here does not mean negotiating what is low or middle or high forbidden means zero, exactly zero. Haram is haram. This is why all early Muslim scholars rejected interest. Many scholars still do today, particularly Arabs and Pakistanis. In 2014, the top ulema of Pakistan belonging to the Fiqhi Majlis said that even the so-called Sharia-compliant Islamic banking merely renames interest as profit and, as such, is deception. All banking, they concluded, is haram. Historically, banking was absent in Muslim countries until the 18th century because nothing except zero interest can be allowed. The Ottoman rulers of Turkey were, however, not ideologues. As pragmatists who ran an empire, they broke the ban on banking because they well knew that no banking meant no trading. This Western innovation had to be adopted come what may. But, to be safe, they first looked around for muftis who could justify European banking and found some. One can endlessly debate whether these justifications are genuine or manufactured.

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