Abstract

The history reveals the fact that last century was the century of financial crises started from the Great depression in 1929 and has been passed through number of financial disaster like oil crises in 1973, Latin American Debt crises in 1982 and so many other financial disasters happened. The most worse were the Global financial crises of 2008 affect extremely almost all the dollar based countries. The introduced Islamic Banking System is one of the positive steps taken by religious scholars in order to pull out the humanity in general and Muslims specifically from man-made unsound and unreliable Financial System. The statistic proves that the introduced Islamic banking system has a rapid growth in the market for the last two decades and more stable economies are going to adopt the Islamic financial system. This research work focuses on highlighting different aspects and dimensions of motives and drives beyond adaptation of the Islamic Financial System in the context of economies trends and swift inclination towards Sharī‘ah based financial system.