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Modern banking system is part of the modern day financial system.
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Modern day financial system is totally different from the primitive tribal financial system that existed 1400 years ago.
thus
your Mufti sahiban cannot use the primitive tribal cultural aspects and critique the banks.
This is like using donkey caravan to establish rules for running modern trains, ships, and airplanes.
that’s why it is important for Muftis to stick to their Hujras and let the modern financial experts to innovate and improve the current system.
If you follow Mufti logic, you will say this after every air-disaster!
------ Go back and start riding the donkeys, donkeys are safe, donkey hamara awaay e awaay!
However what we need is to accept the current system the way it is and use a selection of the products that match with our financial well being and our risk tolerance.
If you don’t like earning interest, put your money in the no-interest account.
If you want to do profit-loss sharing, then go invest in stocks.
But do not commit fraud and dhoka bazi by mis-labeling a regular product and selling it as “Islamic product”.
Do not tell people to become a financially illiterate donkey.
Got it?