This article sets out the theoretical foundations and characteristics of the Islamic economy as a discipline that aims to create an economic model based on Islamic religious principles and on an interpretation of Islamic Law, where interest rates are considered prohibited in the face of the real phenomenon of Islamic finance which, based on these theoretical developments, articulates financial activity through the so-called Islamic financial contracts of partnership. There is a specific analysis of the emergence, development and international expansion of this type of finance, in addition to its potential, and some of the problems and challenges it faces today.
Islamic economy, Islamic banking and finance, riba, interest, sukuk, development, economic crisis.