Al-Albab
Vol 3, No 2 (2014)

RELIGION AND BANKING SYSTEM: THE FUTURE OF SYARIAH BANKING PRACTICES Historical and Contemporary Fiqh Perspectives

Hamka Siregar (IAIN Pontianak)



Article Info

Publish Date
01 Dec 2014

Abstract

The momentum of the development of Sharia banking has been noticed since the 1970s, which generally had two patterns: first, establishing the Islamic bank side by side with conventional one (dual-banking system) as practiced in Egypt, Malaysia, Saudi Arabia, Jordan, Kuwait, Bahrain, and Bangladesh; and second, restructuring the banking system as a whole in accordance with Islamic Sharia (full-fledged Islamic financial system) as applied in Sudan, Iran and Pakistan. The development of the Sharia-based banks which have been established across the world since the 1970s, became the motivation of the Indonesian ulemas to draft law on Sharia banking, so that Sharia banking could also be developed. As a result, these last few years, the banking world in Indonesia has witnessed the establishment of the public Sharia banks and Sharia business units, like Bank Muamalat and Bank Syariah Mandiri to mention a few. Using historical and contemporary jurisprudence perspective, this paper provides discussion on the future of Sharia banking.

Copyrights © 2014






Journal Info

Abbrev

alalbab

Publisher

Subject

Social Sciences

Description

Al-Albab ISSN 0216-6143 (print) and ISSN: 2502-8340 (online) is an interdisciplinary journal published twice a year in print and online (e-journal) by the Pontianak State Institute of Islamic Studies, Pontianak. The journal was offline and started to be online in 2012. The e-ISSN was issued in 2016. ...