Many people thought that banking practice is a genuine invention of Italian people with their "banco" style. New findings proved that Knight Templar already praticed banking activities prior to what Italian did for the first time. However, if one steps back more to older history, they will find that even Baghdad and Basra people during Abbasid dinasty (long time before Crussade when Templar was formed and established) already involved in paper documents as collecting instrument.
Friday, June 21, 2013
Islamic Bank: Our daily practice and the essence
Many people know Islamic mode of transactions from modern Islamic banking practices. They oftenly define every transaction based on their experience in dealing with Islamic banking. While there are many modifications are made to fit in financial transaction, such definition definitely contain additional elements that are not available in original term.
Murabaha Commodity, What is it for?
Since 2004 there has been a big issue in Indonesian Islamic banking and finance community with little attention given by the industry. The issue become big not because there is no answer to the problem raised, but because the issue is forwarded by a big-foreign bank which run Islamic window. The bank insists that since the issue is settled by Sharia Board of the bank in their headquarters, then the country in which the bank operate Islamic window also should allow the product to be launched and utilized by the community.
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