Publisher's Synopsis
The study is concerned about the financial criterion and the role of the Islamic and conventional banks in a global competition? It aims to highlight concepts of the Islamic economy, capital and intellectual bases of Islamic compared to the conventional banks. Moreover, it is essential to know the criteria and mechanism of financing formulas in the Islamic compared to conventional banks. That requires further knowledge of the extent of the contribution of modes of finance in Islamic banking in the global economic competition. Thereby, the study is conducted first through descriptive approach that is followed by an inductive approach of an applied study of some Islamic banks in Sudan. The most important results in the study are as following: The Islamic economic system is able to provide multiple financing modes based on investment and built- on economic justice, equal opportunity and distributive justice. Although the different orientations of Islamic banks and the different nature of their work, services and funding formulas provided by the traditional banks, but it is subject to the same standards and conditions that apply to conventional banks. The Bank of Sudan, like the rest of the Islamic regimes in the world pursued a policy of banking based on sound criteria, especially in funding, which a lot of traditional banks.
