- Publisher: Al-Qadisiyah Journal for Administrative and Economic Sciences
- Available in: PDF
- DOI: 10.33916/23.2.2021/50-59
- Published: July 5, 2021
Financial investments in Islamic economic thinking in relation to the
Iraqi Islamic Bank for Investment and Development
Prof. Dr. Mousa Khalaf Awad, Bassam Malik Sarham
University of Al-Qadisiyah/College of Administration and Economics
|Corresponding Author: Bassam Malik Sarham|
|Abstract : Financial transactions in Islam are considered one of the legislations that it has set following the rules
of which the purpose is a commitment to what God commanded and a compassionate Islamic society, and Islam is
keen on sufficiency and justice in the Islamic economy, as it has been concerned with organizing transactions
between people in a way that guarantees to build a cohesive and compassionate Islamic society. In fact, financial
transactions in Islam are considered one of the legislations that it has set in accordance with the rules of which the
purpose is a commitment to what God commanded.
Moreover, financial transactions play an important part in the Islamic economic system, allowing for true economic
and financial transactions in all financial institutions, whether they are Islamic banks or other financing institutions.
The research challenge is that keeping up with global financial transaction growth is followed by financial
transaction risks. Islamic financial contract formulas are more stable, but they require legal adaptation to keep up
with these changes.
The research seeks to illustrate financial transactions in Islam and their money of great significance in the day-to
day dealings of the citizen and Muslim communities and in the organization of dealings in compliance with the values
of Islamic law in a way that serves the general interest of society. The most critical suggestions made by the research
are the need to emphasize the role that Islamic financial transactions play in economic activity, as they are actual
transactions free of Usury (Riba), and to enable banks and financial institutions to follow commercial formulas
accepted by the Islamic regime in any way because of their great economic significance in economic activity in
general and banking activity in particular.