How can we apply Islamic finance in a global network?

There are two parts to this question:

1. How can we apply Islamic Finance

2. How can we integrate this application in a global network

As for the first part, how can we apply Islamic Finance, it can happen by first learning the rules of Islamic business dealings (according to the four main Sunni legislative schools of jurisprudence) from trustworthy Sunni scholars, and then abiding by those rules on an individual basis. At the same time, there is a need of Islamic Financial institutions which will provide channels of practical application of Islamic Finance concepts through Islamic modes of financing and investments. This will give a chance to the individuals to practice live Islamic finance. Those financial institutions must be governed by a Shari^a board which will monitor and advice the transactions and contracts of those financial institutions. Once this is done, we can have a local level of application of Islamic Finance.

Then we take this to the global level by establishing such practices in different countries, connecting the Islamic financial institutions in those countries together through a network of Islamic Financial institutions / banks which will do business together and also provide alternative international investment opportunities for their local clients.