The Islamic finance industry has been in operation for more than half a century and has purported to fill an ethical gap in the mainstream by avoiding interest and exploitation. The weakness of arguments of those who think that Islamic finance is similar to tradition finance is that they built their arguments on general observations and a one-sided perception of an industry that has deliberately sought change through evolution rather than revolution.There is no substantive restructuring which is beyond the capacity of the Islamic finance industry. Islamic finance makes incremental changes and provide for a "halal" products, albeit one that falls short of the Islamic ideal.

Bashar H. Malkawi