Is it not more befitting for financially capable sheikhs and students of knowledge to establish Islamic banks instead of dealing with usurious banks?

All praise is due to Allah, and peace and blessings be upon the Messenger of Allah.

The issue of Islamic banks as an alternative to interest-based banks is important, and consideration should proceed in two directions:

Firstly: Encouraging Muslims to support and promote existing Islamic banks, and to work towards their improvement.

Secondly: Encouraging Muslim capital owners to cooperate in establishing Islamic banks. Scholars and students of knowledge have a significant role in providing guidance and direction.

There are a number of Islamic banks, some in the Gulf region and some outside of it. And Allah knows best.