When we address the formulas of Islamic finance, it is to establish the practice of Islamic banking and confirm the validity and purity of its financing methods for all times and places. Despite the recentness of the Islamic financing experience and the difficulties it has faced, many economists, bankers, and politicians—especially after the 2007-2008 financial crisis and the mortgage crisis—have begun to call for its adoption. This includes the necessity of eliminating interest-based transactions, both in taking and giving, and removing any justification for usury (interest) from the banking lexicon, as it is forbidden in all religions. The focus is on affirming what is permissible (halal) and denouncing what is forbidden (haram), and dissecting transactions with any semblance of usury to remove the error and establish a valid alternative.

Islamic financing operations have proven to all the viability of the Islamic financial, economic, social, and developmental approach as a genuine alternative to conventional commercial banks. By dealing through financing formulas that avoid the suspicion of interest, they achieve the objectives of shareholders and depositors without harm. These formulas allow for transactions that yield substantial profits, far from fraud or deception, ensuring fair treatment for all shareholders regardless of their number of shares, and protecting their rights according to the principle of 'Al-Ghunm bil Ghurm' (gain is with liability), meaning that profit or loss is shared. This is a true expression of the Islamic Sharia as the basis of justice and equality in human life, ensuring rights and enhancing the role of stakeholders.

This ensures an absolute commitment to avoiding any activity that leads to enmity, hatred, and envy, or the creation of affluent classes at the expense of others, which leads to conflict and numerous problems. When Islamic banks operate in accordance with God's will, there is no exploitation, no decrease in productivity or efficiency, no threat to economic potential, no imbalances or economic problems, and no enrichment at the expense of others. Islamic banking is clear because it excludes the exploitation inherent in interest-based loans, where the lender's capital and a fixed return are guaranteed regardless of whether the project profits or loses. In contrast, fair participation is based on solidarity and mutual support between the financier and the recipient of finance in both loss and profit. Profit, not interest, is the primary driver of production and economic growth.

• Weight: 0.67 kg
• Dimensions: 17 × 24 cm
• Author: Dr. Sadiq Al-Shammari
• Cover Type: Paperback
• Interior Print: Black
• Number of Pages: 156
• Publication Date: 2023
• Publisher: Dar Al-Yazouri Al-Ilmiyya
• ISBN: 978-9923-43-079-8