02-18-2006, 06:50 AM
Yes interest-free economy does exist. For a fully-detailed answer, please watch the two-part video titled "Interest Free Economy" available on this page (and while you are there, you can watch some of the other videos too. They are really good) :
http://www.aswatalislam.net/DisplayFilesP....Name=Zakir_Naik
It is old, so there are many updates to it now. There are more Islamic Banks worldwide. In UK there is one fully functioning now. In fact, I have just opened an account with them and I am transferring over.