complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include Islamic banking, Islamic finance (Arabic: مصرفية إسلامية masrifiyya 'islamia), or Sharia-compliant finance is banking or financing activity that complies with Sharia (Islamic law) and its practical application through the development of Islamic economics. Some of the modes of Islamic finance include mudarabah (profit-sharing and loss-bearing), wadiah (safekeeping), musharaka (joint venture), murab Islamic banks are to collect zakat (obligatory religious alms giving) from customers' accounts – at least according to some sources. A board of Sharia experts is to supervise and advise each Islamic bank on the propriety of transactions to "ensure that all activities are in line with Islamic principles". (Interpretations of Sharia may vary by country. According to Humayon Dar, interpretation of the Sharia is more strict in Turkey or Arab countries than in Malaysia, whose interpretation is in turn more strict than the Islamic Republic of Iran. Mohammed Ariff also found less exacting Sharia compliance in Iran, where the Islamic government had decreed "that government borrowing on the basis of a fixed rate of return from the nationalized banking system would not amount to interest" and consequently would be permissible." Mahmud el-Gamal found interpretations to be most strict in Sudan and least in Malaysia.) Risk sharing. Symmetrical risk and return on distribution to participants must be structured such that no one benefits disproportionately from the transaction. In general, Islamic banking and finance has been described as having the "same purpose" as conventional banking but operating in accordance with the rules of Sharia law (Institute of Islamic Banking and Insurance), or having the same "basic objective" as other private entities, i.e. "maximization of shareholder wealth" (Mohamed Warsame). In a similar vein, Mahmoud El-Gamal states that Islamic finance "is not constructively built from classical jurisprudence". It follows conventional banking and deviates from it "only insofar as some conventional practices are deemed forbidden under Sharia." A broader description of its principles is given by the Islamic Research and Training Institute of the Islamic Development bank:

Bank is an institution that operates without interest, whose activities are to realize material benefits through the collection and distribution of funds in accordance with sharia, where aspects of the implementation of prudential principles and good governance are supervised by the OJK. While the system and mechanism for the fulfillment of sharia compliance, the institution that has an important role is the National Sharia Council (DSN) of the MUI to issue a fatwa on the conformity of sharia for a bank product. Then the POJK emphasized that all Islamic banking products should only be offered to the public after the bank received a fatwa from the DSN MUI and obtained permission from the OJK. In the operational order, each Islamic bank is also required to have a Sharia Supervisory Board (DPS) which functions for sharia supervision and as an advisor in answering questions regarding whether its activities are sharia-compliant or not. Islamic banking in Indonesia continues to develop gradually and progress. In recent years, Islamic Banking has been on the rise, triggered by the great desire of the public to obtain halalness in conflict with banks. This shows that the prospect of Bank Syariah Indonesia will improve, especially with the merger of three Islamic Banks in Indonesia, namely PT. Bank Mandiri Syariah, PT. BNI Syariah and PT. BRIS, Tbk. To become Bank Syariah Indonesia Tbk, which is expected by the government so that Indonesia can become a barometer of the Islamic economy

Islamic banking has been intensively developed over the past fifty years, although Islam has existed since the 7th century. It is a banking model that operates in accordance with Sharia regulations. Islamic banks, globally, have a growing share of assets and more and more clients. They operate in Muslim-majority countries, but also in non-Muslim Majority countries. It is well-known (and most often confusing to people who do not know enough about the way these banks operate) that Islamic banks are strictly forbidden to charge interest, however, doing business in accordance with Sharia regulations has some other specificities, but also some other prohibitions. In spite of obstacles and prejudices, Islamic banking is intensively developing. Some of the most famous products/services of Islamic banks are: musharaka, mudaraba, murabaha and ijara. Bearing in mind the intensive development of Islamic banking and finance, the need for global reporting on the situation and developments in this area has arisen. Such a report has been published by the Islamic Bankers Association since 2010. The report is named Global Report on Islamic Finance (GIFR) and is published annually. Every year, the report has a specific topic that is in the focus of the report and the current information on the situation and prospects of Islamic banking and finance. What progress has been made in the development of Islamic banking and finance, and what is the current situation and role of Islamic banking and fi

Islamic banking is a financial system that operates based on Islamic sharia principles, such as the prohibition of usury, speculation, and unfair transactions. Although it has developed rapidly in Indonesia, the level of public understanding of the concept and mechanisms of Islamic banking still varies. This study aims to determine the public's understanding of Islamic banking (Case Study of Rancabango Village). This study uses a qualitative descriptive approach, with observation and literature review. Qualitative methods are research procedures that produce descriptive data in the form of written or spoken words from people and observed behavior. Descriptive methods describe the nature of something that occurs at the time of the research and examine the causes of a phenomenon. The results of the study indicate that the level of public understanding of Islamic banking is low to moderate. Although some people are aware that Islamic banking does not use interest and operates based on Islamic sharia principles, their understanding of the concept of contracts, profit-sharing systems, and Islamic products as a whole remains limited. Several factors influencing this level of understanding include education level, religious background, experience using Islamic banking services, and access to information and education about the Islamic banking system. Therefore, more intensive outreach, education, and Islamic financial literacy efforts are needed by the government, Islamic financial

In recent years, Islamic banking has been one of the fastest growing markets in the financial world. Even to German banks, Islamic finance is not as 'foreign' as one might think. Indeed, several banks are already operating so-called "Islamic windows" in various Arab countries. However, German banks are still reluctant to offer 'Islamic' products in Germany, despite the fact that approximately 3.5 million Muslims currently live there. Potential reasons for this reluctance include widespread misunderstanding of Islamic banking in Germany and prevailing cultural prejudice towards Islam generally.

Ugurlu Soylu wants to create a German ethical bank - according to the Islamic model The Turkish bank manager does not want a niche product for Muslims In times of banking crisis and financial bubbles, he sees a growing demand for an investment model in which every flow of money faces real economic value.

The purpose of this study is to explore the meaning and issues of Islamic banking between 2012 and 2022. Data acquisition based on Scopus and Google Scholar databases using systematic literature reviews (SLR). We identified the need for SLR in Islamic Banking publications. The purpose of this study is to overcome differences in viewpoints in the context of Islamic banking to provide a clear classification view of the resulting research articles. This article highlights the current collaboration between the authors, to identify gaps in the review of Islamic banking literature. This research is a descriptive qualitative research by explaining the meaning and issues of previous research based on the similarity of titles and related differences to find results that are more relevant to the current condition of Islamic banking. The result of the study found that researchers generally define Islamic banks as banks based on sharia principles that promote mutual prosperity and optimal social achievement.