Applications of Islamic Banking in Conventional Banks and Their Legal and Legislative Requirements

Abstract

The research aimed to identify the dimensions and development of Islamic banking in conventional banks, the options available to conventional banks in the application of Islamic banking, and the legal and legislative requirements for regulating this type of application. The study dealt with the subject in question in three main sections, the first section dealt with the general framework of the study, indicating the importance of the study, its problem, objectives, determinants, methodology and some of the studies that preceded it and then the most important thing that distinguishes it from previous studies. The second section dealt with the concept of Islamic banking in conventional banks, indicating its definition, origin, development and patterns. Then followed by the third section, which is the last: reviewing the legislative provisions and legal requirements for Islamic banking in conventional banks by central banks and supporting bodies and institutions. Finally, the study ended by listing the most important findings and recommendations, and the study concluded that Islamic banking in conventional banks has passed field tests, to the extent that it exceeded in some banks conventional banking in terms of the size of its assets, and became with clear and disciplined features in most aspects, and its identity was formed, and what it is, interest in it increased by all stakeholders, and tempted many banks in Arab, Islamic and international countries to practice and apply it. It also pushed central banks and motivated them to develop laws and legislation regulating them, thus opening the way for them to start from their restrictions and conduct their business and activities in a legal and orderly manner.