Do's and Don'ts of Islamic Banking from the Perspective of Islamic Jurisprudence

Addressing Islamic banking as one of the ideas needed in managing the economy of Islamic societies and also presenting an independent model based on Islamic jurisprudence is a real concern. Accordingly, the present study seeks to address the do's and don'ts of Islamic banking from the perspective of jurisprudential sources.

In this descriptive article, the analytical method is used and the information is documented and library.

Denial and sanctity of usury is an essential aspect of the formation of Islamic banking that should be considered both in transactions and in providing services and facilities to customers. Islamic banking is a model based on real transactions and rejection of formal transactions, which is supported by jurisprudential sources of transactions accepted in Islam Including Gharz al-Hasna, Ja'ala, Mudaraba, and civil partnership are among them, which rely on real transactions and solving the economic problems of the people of the society.

Ethical considerations:

 In different stages of writing this article, from the stage of compiling to analyzing the content, ethical considerations such as the principle of fiduciary duty and observance of writing principles have been considered.

One of the main problems of non-realization of Islamic banking is the lack of change in jurisprudence based on banking developments and the lack of a practical plan for the implementation of Islamic banking. Also, from a legal point of view, not paying attention to the legal obstacles to the progress of Islamic banking is very important. The prevalence of usurious banking in the Islamic society, the huge interest of banks on loans and financial services and the lack of a legal mechanism on banks are among the most important legal obstacles to the non-realization of Islamic banking. At the same time, in terms of the musts (positive), the usury banking system still remains in the theoretical field and its executive policies have not been properly implemented.