The Legal Framework of Islamic banks

Islamic banks are among the basic and economic structures on which any country is based, because of financing they provide for various types investments multiple functions perform in accordance with provisions Sharia. ahead traditional banks.
 The Bank came to combine social, economic, financial banking activities. Perhaps one most important features that distinguishes from each other degree effort expended them investigate halal profit can be obtained through investment process and
 measure this an accurate clear manner distribute it a way achieves due justice.
 need arose as result prosperity commercial activity Iraq, led expansion emergence alongside conventional bank known by several definitions, linguistically idiomatically, but Banking Instructions Iraq No. 6 2011 force, amended, defined Paragraph (1) Article (any legal person who holds permit or license under these instructions carry out activities According Sharia does not deal interest, taking giving.
 Where aim satisfy existing desire, perhaps needs spreads community existence system works Sharia, achieving development goals faced collection employment funds.
 Therefore, necessary encourage turn stay away banks, have contributed factor getting economy current crisis.
 We also recommend institution adopt opening section creation special division work price fluctuations tremendous witnessed at national international levels, expand based commission without dealing interest.