Abstract
In the last years, banking field witnessed many challenges which are imposed by globalization, nationalization and trade liberation in banking services which reflect its effects on all world economical actions, meanwhile the increased direction is gathering and incorporation forming giant entities that enable to achieve big surpluses then enhance competition capabilities. In this commercial environment consists high risk and wild competition The Islamic banks distincted as anew phenomena in the last third of twentith century. The senses and tools of Islamic banking can build their bases . the Islamic banking industry attracted attention of regional and international levels . These speedily occupied an important place and they play a vital role. In spite of the great development of Islamic banks ,they face great challenges like commercial opening and capitalism liberation process. In the seventeenth of the last century, Islamic banks faced important problems like Jurisprudence (figh) opinions that related to financial work with Islam principle. At the beginning of twentieth century, the main question is how to accept the western roles with Islam principle, then Islamic banks can able to use modern financial tools. At the same time they are not against Islam commercial principle. From the beginning the Islamic banks faced many obstacles and challenges, some of them are related to its ideology the others related to its procedures, the success, continuity and its ability to complete with international environment. This study aims explaining the most important challenges which are faced by Islamic banks through globalization and banking liberation. The Decisions of (Basel committee) and its reflects on these banks adopted to face these challenges and avoid its risks.
