Abstract
It provides an in-depth analysis of Islamic finance and its economic results. Islamic finance is an effective system of Shariah management, in which the processes of abandoning haram activities are strong indicators. The article covers Islamic financial instruments such as Mudaraba (profit sharing and loss sharing), Musharaka (joint venture), Murabaha (price plus), Ijara (leasing), the historical development of Islamic banks, their importance in the world system, in ensuring economic efficiency and social justice. The recent expansion of Islamic finance in global markets and its sustainability are also considered.