Dhaka, Oct. 16 -- On a sunny morning in rural Bangladesh, a small dairy women farmer hesitated to borrow from a traditional lender due to steep interest. Instead, she turned to a Shariah-compliant microfinance scheme. The interest-free loan she received helped her buy more cows and boost milk production. A year later, her profits have doubled, her children attend school, and she's hired two neighbors to help run the thriving dairy.

This everyday story captures the transformative promise of Islamic banking, a system grounded not just in profit, but in welfare and sustainable development.Islamic banks tie finance to real goods and services, sharing risks and rewards with their clients. This asset-backed, ethical approach is rooted in Islam...