The purpose of the research - The article examines the regulatory tools and control mechanism of the central bank in Islamic banking. The aim of the study is to assess the alternative approach to the central bank's monetary policy instruments, regulation and control mechanism.

Research methodology - Analysis, comparison, grouping and generalization methods were used during the research. The research methodology is to study the existing theoretical approaches in this area and create an alternative mechanism.

Significance of the application of research - The rapid development of Islamic banking in the world makes it even more necessary to study its regulatory mechanism and solve problems.

Results of the research - The research examined the central bank's regulatory mechanism in Islamic banking models, the Shariah Board and its relationship with the central bank, and the central bank's alternative monetary policy instruments.

Originality and scientific novelty of the research - The scientific novelty of the research is the assessment of the existing alternative regulatory-supervisory mechanism of the central bank in the regulation of Islamic banking and the provision of additional recommendations.

Keywords: Islamic finance, Islamic banking, central bank, monetary policy, interest