Contributor(s): Mukhtar Hussain, Professor Volker Nienhaus | It is felt that conventional financial systems have failed and should be replaced, or supplemented, by more ethical banking and socially responsible finance. Can Islamic Finance, as a system with a strong religious background and moral framework, satisfy this hope? Mukhtar Hussain is chief executive officer at HSBC Malaysia. Volker Nienhaus is visiting professor, University of Reading.