| المستخلص: |
There is no doubt that Islamic banks occupy at the present time an important position in their investment transactions which based on participation in profit and loss in accordance with the provisions of Islamic Sharia. These banks were able to achieve many successes that made them the focus of attention of many investors, as its being the best way to invest money according to Islamic formulas and contracts that contribute to the development of society and strengthening the national economy in general. Islamic banks, like other banks, are considered an integral part of the banking system as a whole, and hence its subject to traditional control of central bank. However, this control would stand as a stumbling block in the way of developing this type of bank and expanding its investment role with what it uses from Islamic contracts such as speculation and Participation contracts that based on sharing profits and bearing losses, with the use of other contracts, such as the Murabaha contract, the lease contract and so on. Hence, this control may lead to many legal obstacles when its carrying out the banking activities, because the central bank uses traditional control methods and tools that are suitable for traditional commercial banks which based on the principle of interest, such as the legal cash reserve ratio method, returning the discount rate, the last lender method and other means in order to implement the supreme monetary policy of the state, control the volume of credit, and achieve monetary stability. However, these means are not appropriate for the characteristic of Islamic banks that are committed to the provisions of Islamic Sharia that absolutely do not deal with the interest principle, which leads to the isolation of these banks from the banking system and its investment and development role. Thus, this study examines the control of the Central Bank on the funds of Islamic banks in two chapters. The first chapter is devoted to defining the central bank’s control on the sources of Islamic banks' funds, while the second chapter deals with the control of investing the funds of those banks by studying investment methods and means of controlling financing contracts in Islamic banks.
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