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Nowadays, due to the various types of financial crises and mistrust to modern banking system it is quite popular and well-known such terms as “Islamic economy”, “Islamic banking system”. But, what is it? What it has been built on? What does it underlie? Certainly, it would be impossible to explicate in a brief description, since Islamic economy is the whole science based on Islamic jurisprudence. Therefore, I try to reveal this curtain of fundamentally different system, touching with expository theory such aspects as: principles of Islamic economic theory, its ethical principles, prohibited trade deals and reasons for these forbiddances and et al. Islamic banking services.
Islamic finance and banking system have been growing rapidly in recent years. Motivated by a heightened interest in financial instruments that emphasize risk sharing, it has been attracting greater attention in the wake of the recent financial crisis. Today, as a consequence of broad changes in the political-economic environment, a new generation of Islamic financial institutions, more diverse and innovative, is emerging as the doctrine is undergoing a new –aggiornamento-update. Perhaps the most important development has been the growing integration of Islamic finance into global economy.