the employer". (Usmani suggests the problem might be remedied with Islamic modes of financing, and that "assets-related loans" could be converted into "leasing arrangement[s]".) M.A. Khan agrees that the debt burden has created considerable hardship, but should be blamed on "mismanagement, fraud and corruption" in the misuse of borrowed funds, rather than interest charges. If interest was to blame, Islamic financing would not be a solution (Khan argues), since it also involves costs (termed "profits" or "fees" rather than interest) to those in the developing world seeking capital. Alternatives to interest Nature of interest-free finance A new riba/interest free financial system would insure that no "increased amount was charged on the principal amount of a debt", as Usmani preached, the "Holy Prophet [Muhammad] ... has left no ambiguity in the fact that the creditors will be entitled to get back only the principal and will not be able to charge even a penny over and above the principal amount". Some of those promoting or writing about interest-free banking have posed zero-interest loans (and saving accounts) as an Islamic alternative to the interest-bearing loans/accounts of conventional banking. Muhammad Siddiqi reassured policy makers that interest-free accounts paying no return to savers would not mean a significant reduction in savings because savings is mainly a function of the income of the savers rather than their expectation of any return. Mawdudi promised that zero return loans would allow the flourishing production of what was socially useful but which generated only a small return. On the other side, skeptical economist Maha-Hanaan Balala questioned how creditors would ever extend interest-free loans considering "the opportunity cost, erosion of value through inflation, risk of default by debtors"; and Fazl al-Rahman argued that an interest rate serves as a price for financing, limiting demand for it by borrowers, so that finance markets are not faced with limited supply and infinite demand. However, according to Taqi Usmani, emphasis on zero return was misguided. "People not conversant with the principles of Shari'ah and its economic philosophy sometimes believe that abolishing interest from the banks and financial institutions would make them charitable, rather than commercial, concerns which offer financial services without a return. Obviously, this is totally a wrong assumption. According to Shari'ah, interest free loans are meant for cooperative and charitable activities, and not normally for commercial transactions ..." Another observer (M.A. Khan) has reported "a consensus" among Muslim economists that