Islamic Banking and Finance has been praised — or at least described positively — for:

• turning a «theory» into a trillion dollar «reality», asserted Islam into international financial markets
• enriching the Islamic legal system by providing it with real world business questions to find shariah-compliant solutions
• creating an «ethical, sustainable, environmentally- and socially-responsible» system
• drawing conventional banks into the industry in search of Muslim customers
• drawing new customers and money into banking, rather than taking existing customers and their money away from conventional banking
• Creating a less risky form of finance
  – by forbidding speculation, so that, for example, the excesses that led to the global financial crisis of 2007-2008 can be avoided
  – by using two kinds of accounts:
         -«current accounts» — where funds earn no return and (in theory) are held, not invested by the bank, so not subject to risk;
          -and mudarabah accounts — where the depositors share in any losses with the bank, so diminishing the bank’s risk.
• Although Islamic Banking and Finance does have problems and challenges, these can be explained by:
  – its relative youth and low position on the “learning curve” which will be solved over time
  – non-Islamic influences which can only be eliminated when the industry operates in a truly Islamic society and environment