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Innovation, adaptation and entrepreneurial spirit are particularly important when dealing with global challenges that threaten everyone, like pandemics, terrorism and climate change. The biggest opportunity presented by Covid-19 is the chance to reset some of our economic approaches in a way that it maximizes the chances of developing more resilient and sustainable approaches to globalization. Covid-19 has produced uncertainty within the financial sector for both businesses making money and individuals taking care of their money. Prudent financial management now seems to be more important...

It has taken over five centuries for banking to evolve to its present state, and the concept of "interest" is undoubtedly the life-blood of the whole financial system. Interest was religiously prohibitive for centuries in several faiths, such as Buddhism and Hinduism, Judaism, Christianity and, Islam, and was also strongly opposed by neo-classical economists in the 1930s. Interest (riba) is still outlawed in Islam, with the term "riba-eater" being one of the cruellest insults. Islamic scholars have explained that the current practice of contracts without interest is a result of following the...