Economic justice requires a viable economic system supported by an efficient banking system. Interest based banking has proved to be inefficient as it fails to equitably distribute wealth which is necessary for the well being of mankind. On the other hand Islamic banking is efficient and ensures equitable distribution of wealth thus laying foundation for an inflation free economy and socially responsible banking.
Economic justice requires a viable economic system supported by an efficient banking system. Interest-based banking has proved to be inefficient as it fails to equitably distribute wealth which is necessary for the well being of mankind. On the other hand, Islamic banking is efficient and ensures equitable distribution of wealth thus laying foundation for an inflation-free economy and socially responsible banking.