The object of this article is to position the concept of Islamic economics in the long quest of Muslim reformist thought, as an alternative to the Western economic development model that allows to reconcile Islam with modernity and the demands of the contemporary world. The failure of different growth models applied in Arab countries after their independence and the worsening economic and social conditions, along with the renewed interest of Islam in the political field, relaunched the theoretical debates on this issue. Since the ‘70s, a renewal plan of Islam began to take root in the oil producing countries which had an important liquidity, allowing to think at the effective application of an Islamic economy ruled by the Islamic legal rules of organization and ethics. The Islamic bank, whose operational mode were imposed in the Western media due to the latest crisis, will be the first step of an Islamization of the economy by replacing the payment of a fixed and predetermined interest of conventional banks for an Islamic one of interest prohibition and partnership through the participation in the economic profits and loss.
Economy, banking, Islam, interest, ethics, finances.