The Structure and Content of an Islamic Bank’s Balance Sheet to Reveal the Essence of the Islamic Banking System

The article examines the historical aspects of the development of the Islamic banking system, which is based on the rules of Sharia and Islamic ethics, as well as the legal framework that regulates the activities of Islamic financial institutions. The study explores the fundamental principles and conceptual categories that characterize the unique model of banking. Based on the analysis of operations inherent in Islamic banking, the main items of the formation of liabilities are determined, and the structure of the assets of the balance sheet is presented. Based on the study of the set of economic relations and connections between the participants of the credit and financial system within the framework of the Islamic model of banking, the factors that form Islamic banking are substantiated and the prospects for its application for the development of national economies of Arab countries are assessed.