Islamic Finance: Principles and Practice Beyond Interest
By Raja Chinnakotla | Spring 2026 – Volume 16 Why is Islamic Finance Different? In conventional understandings of economics, the ideaof interest and the cost of borrowing money are afoundation for the field. In the field of economics,interest is a nonnegotiable fact. Among internationalgroups, including the World Bank and the IMF, it iswidely frowned upon …