Life and Teachings of the Prophet Muhammad
        
        
          8. The Concept of Ijtihaad in Islam
        
        
          ~ 115 ~
        
        
          Apart from lagging behind in the race of progress, they are also
        
        
          suffering from many socio-political and cultural problems at both
        
        
          national and international levels. For example, on the national level,
        
        
          Muslims living as a minority in non-Muslim countries are generally
        
        
          not considered ‘loyal citizens’, as the modern concept of
        
        
          nationhood and its resultant obligations have yet to be legitimised
        
        
          by the Islamic shariah authorities. Banking, interest, insurance and
        
        
          other forms of financial transaction still await the unanimous stamp
        
        
          of approval of the Muslim Ulama.
        
        
          None of these problems and misconceptions can be removed
        
        
          without a wide acceptance of Ijtihaad throughout the Muslim
        
        
          world.