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.