The historical development of the Islamic banking system, and examination of its implementation methods in Türkiye and World

The concept of Islamic Banking was introduced by Islamic thinkers in the 1940s and implemented in the 1970s. This study examines the formation and development of the initial principles of the interest-free financial system. The aim is to explore the journey of its development from its early proponents to its evolution in both the world and Türkiye. The practices of Participation Banking are comprehensively reviewed from past to present. Participation Banking, based on its implementation principles, is a universal structure. Formed according to the rules of Islam, this system has a wide network of national and international capital and customers. Considering its practices in Türkiye and around the world, it emerges as a strong alternative to the traditional banking system.