Figh study of the nature and function of the provisions in banking transactions in interest-free banking

Bank contracts are concluded either absolutely or conditionally. Most contracts are concluded conditionally. Therefore, in most contracts, observance of rules of sharia in banking affairs, which is today subject of much attention, depends on knowledge of fiqh and legal nature of conditions and their function. Conditions are divided into many categories based on different criteria, and accurate knowledge of each of such categories is very important, and also, it is necessary to study effect of each separately. Such study would range from the study of how to accurately conclude a contract containing each of categories of conditions to consideration of the effect of violation of conditions. Such study must be done carefully and with diligence without ignoring complexities of certain matters. Indulgence and lack of diligence in sharia rules-based banking operation not only undermines Islamic bases of economy but also cause many to doubt the Islamic bases of economy and lead them to falsely believe that observance of rules of fiqh only apparently changes bank operations without making any substantial changes, thus making people confused and surprised with the never answered question why so much must be spent on such superficial and ultimately ineffective changes.