Interest-Free Commercial Banking

Studies the problem of eliminating interest from the banking system from basic principle. Using a general model of the commercial bank lending process, shows that interest can be eliminated from modern commercial banking without resort to drastic measure. >Presents a commercial banking system that is free of interest but is fully viable and compatible with current practices in the conventional system. >This system is practicable in strictly Islamic countries, nominally Islamic countries as well as in other countries. The only requirement is that there is a clientele that wishes to avoid dealing in interest.