Role of Islamic Banks in the Development of Modern Banking

Makalah Hukum Bisnis

Modern Islamic banks are just beginning to set in the 1960s, but banking activity has been started since the time of the Prophet. He is believed to keep all the deposit by the crowded, so he swore Sayyidina Ali ra to return any deposit to have it.

A friend of the Prophet, bin al-Zubair Awwam, not take money from people in the form of deposit. He would rather take it in the form of loans. Thus, this action raises two points: first, he has the right to use it, the second, he is obliged to return it.

Mudharabah activities and deliberations are also known from the beginning, as the money transfer activity and the activity of the use of checks, like the story of Sayyidina Umar and Saif al-Hamdani.

Historical development of modern Islam begins with the founding of Mit Ghamr Local Saving Bank in Egypt. But in 1967 was taken over by the Nation Bank of Egypt and the Central Bank of Egypt to operate on the basis of usury. In 1972, the Bank without the riba system was introduced again with the establishment of Nasser Social Bank of Egypt.

In the early 1970s, the OKI was formed, among others, initiated the late King Faisal of Saudi Arabia, who also advises each country to establish Islam Islamic Bank.

The rapid growth of Islamic banks has provided the inspiration for conventional banks to replicate and share offer Islamic banking products.

Large companies are also many who are interested in using Islamic banking services, such as Xerox, General Motors, IBM, General Electric is part of the company's Chrysler bluechips in America that use Ijarah.

In terms of development of Islamic banking theory, Harvard University set up a special program the Harvard Islamic Finance Information Program at the Harvard University Center for Middle Eastern Studies, sponsored by the Islamic Investment Company of the Gulf (Bahrain) Investment Bankers (a subsidiary of Dar al-Maal al-Islami Trust).