Service of Islamic banks

Abstract

Islamic banks has development in many aspects. In practical performance of banks function, this was a limited activity in service banks and commercial processes. Later, it came to they possess financial power and ability to create Islamic loans. They possess financial power and ability to create Islamic loans. Economical union supported by banks is not restricted to a domestic sphere but has expanded internationally as its operations enjoy fidelity and fulfillment between banking organizations in different countries. As banking systems Islamic banks had developed, they are no longer restricted to role of being financial and service organizations but have become money market within public sector. Furthermore, they follow up monetary flows and banking securities by playing positive role of providing the organised money market with enough information about commercial activities. In addition, as a financial mediator who has adequate statistics about other economical units besides its main role in creating successful development plans andriskless investment. Islamic banks operations have their own characteristics which are intensive, multiple and influential on each other. Many operations are based on trust such as receiving large deposit but also with many banking risks, related to its rights or rights of others. It is also a well known fact that banks within Islamic banks rarely commit major mistakes as consequences of these mistakes will not be restricted to same bank but will expand to include whole banking system. This leads to mistrust between many parties that will increase hazards in dealings in money. © Medwell Journals, 2012.