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107. Paul A. Samuelsan and William D.Nordhaus, Economics, 12th.
Ed., McGraw- Hill, New York, 1985
108. Adam Smith, An Inquiry Into The Nature And Causes Of The
Wealth Of Nations, R. H. Campbell & A.S. Skinner (Ed.), Vol. I,
(Indianapolis: Liberty Fund, 1981). P. 263
109. Rajesh Aggarwal & Tarik Yousef, Islamic Banks and Investment
)Financing, (http://ssrn.com/abstract=845
110. Dahlia El Hawary, Wafik Grais & Zamir Iqbal, Regulating
Islamic Financial Institutions: The Nature of the Regulated, World
Bank Policy Research Working Paper 3227, March 2004
111. Juan Sol, Introducing Islamic Banks into Conventional Banking

Systems, IMF Working Paper, July 2007

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Abstract
Studying speculation ( mudharaba) in the Islamic banks is considered
one of the Islamic economy field studies, it deals with speculation in
Islam and the importance of the Islamic bank.
The research studies the relation among the speculation parts. There
are different explanations for this relation due to the different Islamic
explanations of the banks works , in a special degree, and due to the
thinkers different ways of looking at the economic problem nature in
Islam.
At this point, the evaluation difficulties in the Islamic banks studies
became more and more, as well as conducting the comparisons among
these studies.
The Islamic banks face great risks with the speculation due to the
misbehaviour of some individuals of the banks agents, which is a moral
reason between the Islamic bank and the other banks.
The study consists of three chapters. The first chapter has two topics,
the fist studies the speculation concept in the Islamic jurisprudence, while
the second studies the nature and conditions of speculation contract.
The second chapter is devoted to the Islamic banks, their existence
and development, and the ways of financing in these banks, this chapter is
divided into two topics; the first is a study of works in the Islamic bank
and the stage of its development on the applied level, the second is a
study of the most important ways of financing in the Islamic bank.
The third chapter consists of two topics also. The obstacles that the
Islamic applying of the speculation in the Islamic banks face had been
studied in the first topic. The second topic is a try for developing the
speculation in the Islamic bank. The study is concluded with the results
and conclusions reached and the recommendations.

Throughout studying the basic points of speculation in the Islamic

banks, we found that the main obstacle is how does the Islamic bank get
the needed money, especially in the unusual cases. The problem here is
there is no strong relation between the Islamic banks and the central
banks which affords financial facilities for the non-Islamic banks, but not
for the Islamic bonks because these banks refused the benefit because it is
side,there is another reason which is that the Islamic illegal. On another
banks are limited in their transactions which cause their loose in the crisis
that usually occur in the financial market because they cannot compete
with the other large banks.
Due to these factors, the Islamic banks cannot invest their money in
huge projects because these projects involve a long-term investment.
Though there are many studies in this field, this study is a try to look
at the future of applying speculation in the Islamic system, and to answer
a set of questions such as: is it possible to apply successfully a
speculation contract to finance the Islamic banks? Is it possible to
overcome the problem that speculation contract face?

University of Kufa
College of Administration and Economics
Department of Economy

The Problematic of Applying

Mudharaba in the Islamic Banks
A Thesis
Submitted to the Council of the College of Administration and
Economics \ University of Kufa
In partial Fulfillment of the Requirements for the Master
Degree in Economics

By
Ibraheem Jasim Jabbar Al-Yasiry

Supervised by
Prof. Dr. Adnan Dwoud Mohammad Al-Edhari

1430A.H.
2009 A.D.