Insight into Prospects of Islamic Banking: from Past to Present

Islamic banking is one of the alternative financial models of the modern world, which is currently gaining more and more international recognition and reliability both in the East and West. The article reveals separate historical aspects of the genesis of Islamic banking in order to better demonstrate the potential of this financial system now and in the future. The purpose of the research is to highlight the ability of Islamic banking to integrate into the western-dominated economy and society.