It is a dispute that was settled a long time ago in our Islamic scholastic history. It is arrogance to go around confusing the issue. The Ummah would probably have heard the statement " interest is Riba ". Majority of Ummah's populace is also likely to have come across with Qur'anic verses and Hadith of Prophet (may peace be upon him) on the prohibition of Riba and punishment for those who violate the prohibition...
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As a result, freeing banks from interest (Islamic banks) is a growing trend in various places of the world. However, there is not a single Islamic bank in our society. The whole economy is built on Interest based banking. Our people are generally faithful to religion. The reason why our people are not moving away from interest is not because they do not love Islam, nor because of disregard to the Qur'anic verses on Riba prohibitions...
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