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AN OVERVIEW OF ISLAMIC BANKING
HANUDIN AMIN
CONTENTS
Today we would be of advantage to
define some sort of essential topics in
order to explore what is Islamic banking
explicitly?
I would segregate the slides into three
main clusters: please check them out
AN ISLAMIC BANK
ii.
AN ISLAMIC BANK
CHARACTERISTICS OF AN
ISLAMIC BANK
1.
2.
CHARACTERISTICS OF ISLAMIC
BANK
3.
4.
5.
6.
7.
PHILOSOPHY OF AN ISLAMIC
BANK
1.
2.
3.
4.
5.
6.
Trade-based transaction
Honesty and trustworthy manner
Earning-spending
Mutual consideration
An absolute ownership
No accumulation of wealth
SHARIAH PRINCIPLES
1.
2.
3.
4.
5.
6.
7.
8.
9.
THE DISCREPANCIES
Conventional bank
Islamic bank
Legal relationship:
1.
Debtor and creditor
Legal relationship:
1.
Seller and buyer
2.
Lessor and lessee
3.
Partner and partner
Dual
Banking
Systems
Full
Fledge
Banking
Malaysia
Sudan
ISLAMIC BANKING
OPERATIONS
Current Accounts
Savings Accounts
Al-Mudharabah (Trustee
Profit-sharing)
APPLICATIONS OF FUND
Equity Financing
Al-Ijarah (Leasing)
Trade Financing
Investment
Period of
Familiarisation
Period of increased
competition
Establishment of
1st full-fledged
Islamic bank (Bank
Islam);
Protection Bank
Islam from having
to compete with
others.
Emergence of
Islamic Windows;
Establishment of
2nd full-fledged
Islamic bank
(Bank Muamalat
Malaysia
Berhad).
Period of further
financial
liberalisation
Introduction of
three foreign
full-fledged
Islamic banks;
Creation of more
competition.
End of An overview
of Islamic banking
End of day #2