Muhammad L. S. Creating Specialized Islamic Bank is Type of Wholly Conversional Banking

الملخص

Conversion from the traditional banking sector to the Islamic banking sector through the
establishment of specialized Islamic banks such as the Nahrain Islamic Bank and Faisal
Islamic Bank is one of the best methods of transformation. The character of independence in
this type of transformation is fully realized, unlike that which can be seen in the partial
transformation by creating windows or Islamic branches of traditional banks. In the total
transformation, the characteristic of the Islamic bank and its independent personality in
performing its transactions and exercising its independent policy are visible from all pressures
that can be exerted on the Islamic branch or window, through the bank’s policy establishing
the branch or the Islamic window and the bank’s market orientations. The process of
establishing independent Islamic banks is governed by independent laws regulating its work,
which is one of the most prominent features of this type of transformation.