Perhaps the most significant intellectual-cum-operational contribution has been made by Pakistan’s Islamic Ideology Council which, on the basis of a Report of its Panel of Economists and Bankers, has produced the first comprehensive and systematic blueprint for the elimination of riba from a modern economy. In the opinion of the present writer, this report represents the high point of contemporary Muslim contributions towards developing a model of an interest-free economy. It is also a consumma tion of the original work done by Muslim economists during this period.
