Economics

Bank Syariah

The operatioanl development of banking with syariah principle in Indonesia marked by the establishment of Indonesian Muamalat Bank. Muamalat bank is the first syariah bank in Indonesia. Furthermore, there are many general banks which open the syariah program.

a.       The Definition of Syariah Bank

In conventional banking, there are activitieswhich are prohibited by Moslem syariah. Those activities are receiving and paying the interest (usury), financing the production and trading the prohibited goods by syariah, for example liquor.

The syariah banking is establishment with the purpose to apply the Moslem principle to monetary and banking transaction and the other related business.

The main principle of Moslem bank are:

·         The prohibition of usury in the various kind of transaction

·         Doing the exertion activity and trading based on the legal profit

·         Giving the tithe

b.      The Operation of Syariah

The modern banking and monetary system has been effort to fulfill the human’s need for financing their activities not with their own funds but by using the other’s funds. The funding activity can use the participation principle in equity financing or by loan principle in debt financing.

Moslem has its own law to fulfill these needs, such as profit and lost sharing, equity financing, and debt financing.

The Moslem bank doesn’t use the commercial money loan method. In Moslem, the transaction which is done by giving repayment is called usury. Therefore, the syariah banking operational mechanism is run by using profit and less sharing, which consist of.

ü  Al Wadiah Amanah

Al wadiah amanah is agreement between the money and goods owner and bank with requirements that bank is willing to store and maintain the safety of goods and money which is enstrusted on it. The owner doesn’t give the right  for the bank to use the goods.

ü  Al Wadiah Dhamanah

Is the agreement or cooperation which is done by two side, namely the goods or money owner gives the right for the saver (bank) to use that goods or money so bank is responsible for the broken or lost of that money or goods.

ü  Al Mudharabah

Is the union relationship which is done by two side, name the fund owner provides the fund and the entrepreneur uses it for the entrepreneurship.

ü  Al Musyarikah

Is the cooperation agreement which is done by two sides or more with the appointment that every sides pays the income (money or goods) to finance a business as the agreement. The advantage which is shared mustn’t be same with the capital portion which is paid. Meanwhile, if there is damaged, its sharing concerns with the paid capital.

ü  Al Qardul Hasan

Is the money or goods borrowing agreement whose purpose helps the debtor. The debtor is obligatory to return his loan at the same amount and if the borrower can’t return it on time, he may not be given the punishment. The borrower permitted to give the repayment in wholeheartedness provided that it’s not stated at the begining agreement.

ü  Al Kafalah

Is guarantee which is given from one side to another. In agreement is stated taht the guarantor is responsible to paying of debt of establishingthe certain achievement which becomes the of guarantee receiver.

ü  Al Rahn

Is agreement which makes the precious goods as the load to fulfill the obligation.

ü  Al Hawalah

Is the movement aside from the one having obligationto the other one.

ü  Al Murabahah

Is the goods trading agreement whose main price is added with the profit. The payment can be paid installment or cash.

ü  Al Bai Bithaman Ajil

Is the agreement installment payment trading towards the goods whose price is similar with the main price added with the profit which is agreed together, including the payment period and the number of installment.

ü  Al Bai Al Dayn

Is the trading agreement discount in credit or the claim coming from goods trade.

ü  Al Sharf

Is the trade activity of the one money with the other’s ones. If the traded money is the same, the money’s value must be the same and it is delivered in the sme time too.

ü  Al Ijarah

Is the agreement between the goods owner and tenant which permit the tenant uses those goods by paying the rent as the agreement of both. If the renting period ends, the goods will be return to the owner.

ü  Al Ta’jiri

Is the agreement between the goods owner and the tenant which permit the tenant uses the goods by paying the rent as the agreement of both. After the rent period ends, the owner sell those goods to the tenant with the price agreed by both.

ü  Al Wakalah

Is the agreement of giving the authority to the representative painted side in doing the job or activity by the name of authority giver.