lack of modern contribution is largely due to the internal conflicts between modernism and traditionalism within majority Muslim countries.
History, and recent examples have shown that there is certainly nothing that would stop a progressive Islamic society from contributing largely to scientific discovery/progress, but sadly due to the current wave of traditionalism within many Islamic countries this is not happening.
There are many scientists who are muslim, but by and large they work in western universities in 'progressive' countries, rather then within Islamic societies.
Its interesting in general to look at how education/schools/universities work within Islam, and its a great shame for me to see more traditionalism coming back. You only have to look at the number of Islamic faith schools compared to 'secular' schools within Islamic countries to see that the current trend is towards faith and away from secular education. In part I would put this down to an ongoing reaction against the progressive movements of the 50s/60s/70s that are now deemed to have failed within many Islamic countries. Its a shame, and as a western individual, one of our biggest mistakes of the 20th century was not supporting the progressive movements within Islam strongly enough (in fact on some occasions we went against them). If we had supported them fully, maybe now we would not be seeing the return to traditionalism that is in part causing such tension in many parts of the world.
So all in all - there is nothing to stop Islamic countries and individuals from contributing scientifically, they have done in the past, and many individuals do today. But the increasingly traditionalist culture/approach to Islam in many Islamic countries is currently hindering their ability to contribute on the level of many western countries.