Islamic banking

Islamic banking refers to a system of banking or banking activity which is consistent with the principles of Islamic law (Sharia) and its practical application throughout the development of Islamic economics. Islam forbids paying or receiving interest costs for the loan and accept money, respectively (Riba, usury) for specific terms, as well as investing in companies that provide goods or services regarded as contrary to its principles (haram, forbidden).
Although these principles have been used as the basis for a thriving economy in the past, only in the late 20th century a number of Islamic banks have been trained to apply these principles to private or semi-private Trade within the Muslim community, Islamic Banking is nothing but the funding partnership.