One of the basic challenges of the banking system in achieving the goals of Islamic banking is the processes and mechanisms governing the calculation and payment of interest in the banking network, which is facing challenges from the perspective of Sharia and efficiency. This article tries to provide a reform framework regarding the policy making and regulation of the bank interest rate based on Sharia principles and rules and paying attention to the dimensions of monetary policy. The pathology carried out showed factors such as the separation of the monetary-banking sector from the real sector, payment of interest without relying on the actual profitability of the bank, inefficient and ineffective regulations on the interest rate, lack of a comprehensive and political look at the interest rate category, and institutional and behavioral challenges related to depositors. It is one of the main reasons for the inefficiency of the interest rate in the banking system. On this basis, based on the descriptive-analytical method and relying on Shari principles and rules, a model was presented for regulating the interest rate in the banking system. Paying interest based on the actual performance of banks' balance sheets and not paying fixed interest, applying monetary policy based on the targeted interest rate in the banking network, modifying the accrual interest process in the short term and eliminating it in a transition period, forming an interest adjustment reserve account in banks, separating The operation of exchange contracts from partnership contracts and the removal of the demand feature of investment deposits form the pillars of the proposed research model. The results of this research can be used in revising the rules and regulations of usury-free banking operations and moving towards the establishment of the Islamic banking system.