SOME ASPECTS OF ACTIVITY OF THE ISLAMIC BANKING SYSTEM IN THE MARKET OF FINANCIAL SERVICES

Throughout the last twenty-fifth anniversary the financial and banking sector of economy, both the certain countries, and the whole regions periodically experiences the acute crises, which are expressed in the sudden and sharp growth of number of banks, the investment and insurance companies finding the insolvency. In recent years possible ways of replacement of percent attentively were considered by Muslim experts in economy and banking. Muslim economists have developed economic models of interest-free economic system and have analyzed consequences of cancellation of percent on the economic growth, establishment of resources and distribution of income. They have also proved theoretical base for the organization of modern banking on an interest-free basis. The big contribution to practice about interest-free banking was also made by bank staff. The concept of interest-free banking is not purely theoretical category anymore. In the last two decades were created several Islamic banks in the different parts of the world; they work successfully. Three countries of the Islamic world: Pakistan, Iran