The Islamic Branches for the Traditional Banks: A Shari'a and Economical Views

The Islamic branches for the traditional banks: A Shari'a and Economical views At the end of the last century, the establishment of Islamic windows, for the traditional banks to provide banking services in according with the Islamic traditions and laws (shari'a), widen. This study came to show if these windows are lawful from the shari'a point of view, and their economical effect on the Islamic banking. The study discussed the view of both sides; those who tolerated these windows and those who didn't, and the consistent of these windows with the aims of shari'a. the study concluded that these windows are prohibited according to the shari'a evidences, and that they are not consistent with the shari'a aims. The study also discussed the economical effect of these windows and concluded that they have very harmful results on both the Islamic banking and the Islamic banks. Yet these windows are a prove of the great success of the newly established (30 years) Islamic banking, but they will weaken the Islamic banks economically and they'll loosen there commitment to the shari'a laws, also they'll divert the Islamic banks away from the right track. So the study suggested that it should be cleared by Muslim scholars the prohibition of dealing with these windows until the mother bank converts entirely to be committed to the shari'a laws.