The Concept and Content of the Category “Islamic Banking”

This article examines the concept of Islamic banking and the content of this category, and presents the positions of various scientists on this issue. The basic principles of Islamic banking and their characteristics are also noted. In conclusion, it is concluded that, in general, Islamic banking appears to us as a system that performs the functionality of banking, which corresponds to the spirit, ethics and value system of Islam and is guided by the principles established by the Islamic Sharia, namely, the prohibition of riba, despite the fact that riba is not an action at all — riba is an event that represents a creditor receiving from the debtor of a disproportionately large amount as a counter-provision fora certain asset; limitation (but not prohibition) of the loan. Garar is a risk or uncertainty associated with insufficient awareness, jahl, regarding the existence of exchanged mutual values, or jahl regarding the characteristics of exchanged mutual values, their type, quantity, or the date of future execution, if any, or jahl regarding the behavior of the parties in the transaction; the prohibition of Maisir, where maisir is a gambling a game, a bet, etc., that is, a situation where the increase in property of one of the parties to the transaction exclusively occurs by chance.