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Money demand is the most important function in examining the effects of monetary policy on the economy, in such a way that monetary policy can help monetary authorities achieve their goals by affecting demand for money. In this research, panel data from 2001 to 2014 have been used to estimate the demand function of money in the banking system in Islamic countries, using spatial econometrics. In this study, in order to extract the money demand function, the maximization model of the expected utility function is used with respect to its budget constraint. The results show that there is a negative and significant relation between the inflation rate (interest rate) and the demand for money, that is, with Increasing inflation, the yield of durable goods rises, so people prefer to turn their money into durable goods; hence, demand for money is reduced. However, there is a positive and meaningful relationship between national income and money demand, when there is a widespread definition of money. That is, due to higher income levels, as expenses increase, demand for money from individuals also increases and aggregate demand for money increases. The variable coefficient of spatial delay is in the meaningful and negative model. In other words, the proximity of the selected countries has had a negative effect on the demand for money</span>