Shari'a Controls for the Development of Islamic Banking Products

Abstract

Islamic financial system constitutes part of the international economic structure, and the world became a banking village connected by banks that control its cash flows and orient its movement to achieve development. The opportunity for survival became related to development and creativity in working methods and developing Islamic banking products. The biggest challenge is in developing products that are able to manage the available cash assets and achieve profits while committing to the legislative control of Islamic investment tools and avoid nominal contracts and usury tricks.This research aims at indicating the concept of Sharia Controls Development of Banking Products and principles along with the main paths of developing Islamic products, indicating the Sharia controls of the most important Development of Banking Products, ensure legitimacy of the contracting system through creativity based on the Sharia basis and fulfilling contract objectives to avoid nominal contracting, indicating combination and merging controls, emphasize the basic concepts of two sales in one, conditioned sale, sale and loaning, controls of ownership and receipt in general and specific sales and debt sale, clarifying the concept of uncertain sale (Gharar); including categories of existing uncertain sale, descriptive uncertain sale and exempt uncertain sale as well as accentuating the importance of sharing risk and returns.

Keywords: key words, Islamic Financial, Islamic Banking Products.