TANMIYAT AL-RAFIDAIN

Abstract

The idea of establishing Islamic banks is considered as the most recent call by Muslim
businessmen in the Islamic World. After their realization of the role played by such
establishments in developing the Muslim societies, through various important tasks of nontraditional
functions carried out by commercial Banks.
Thus, the Islamic banking work became a reality and successful experiment performing
it’s role in facilitating production, enhancing the capital energy, collecting savings and
directing funds towards the various investments channels through utilizing the untraditional
methods in accordance with the Islamic code. Thus, it paves the scientific path in order to
provide a stable life for the Islamic nation individuals and strengthening their economies.
So, the situation requires to have a look at these banks and their future in the light of
globalization existence and it’s effect upon the financial and economical aspects of which
this phenomenon is trying to draw the future’s image through returning to the adoption of
capitalist ideas and abandoning any other ideas like democracy and the social justice
principles.