Islamic banks in Iraq between reality and ambition

Assistant lecturer. Uday Abed Hazam

College of Computer Science and Information Technology - University of Anbar

oda.abid@uoanbar.edu.iq

Abstract:

The study aims to determine the most important concepts of Islamic banking and to clarify the reality in which it lives in light of the challenges and difficulties it faces during the practice of its work and as an integral part of the global banking system, which requires it to remedy its position in the banking arena to reach the goals it seeks to achieve, which is to obtain a competitive advantage that makes it At the forefront is what allows it to develop its financial assets, which guarantees its survival and growth, by gaining the largest base of customers who want to obtain modern banking services in accordance with Islamic law, since the society in which we live is dominated by the religious character, which prohibits usury in all its forms, and that access to banking services is free From usury, it can only be obtained through dealing with Islamic banks, as they do not deal with usury by giving and taking, because all their financial transactions are subject to the teachings of Islamic Sharia. Islamic in general and the formulas that are used in Islamic banks in the Arab world The reasons for using specific formulas in Iraq and not others, in order to reach some conclusions and recommendations.

keywords :

Islamic Banks; Benefits Murabaha;  Mudaraba; Competitive Advantage