bank syariah vs bank konvensional

Bank is finance institution that houses of persons or individuals, private business, bodies state-owned, even govemment agencies hemped-up file. Through lending activities, and various services rendered banks serve financing needs a payments processing system and mechanisms for all economic sector. Besides banks are business in the field of finance being attractive and expend money in society, especially give credit and services in traffic payment and distribution of money.

Virtue of two definitions above can be attributed that basically banks are running business entity activities collecting fund from public and transfer back to the parties needs in the form of credit and provide services in traffic payment.

The difference of syariah bank and bank conventional an academic study on syariah banking many in doubt the economic system applied in the economy. Meanwhile, conventional bank we know it today is the result of the development process of and walk with long established in society. So it is not surprising if the perception about bank be necessarily associated with interest rates. The development of public perception of the different syariah banking and banking conventionals still so very little.

Muhammad Khisbul Muzaqqi

11220001

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Islamic Banking

wafirotul haifa

11220010

Banking is an institution which executes three functions, they are; receives savings, loans money, and money transfer service. In the economic history of Muslim.  The functions of banking was popular in Rasulullah period. The functions are receiving entrusted goods, borrowing money for consumption and business necessity, and transferring money. The function of banking is assembling fund from society and reversing the found to society who need the found.

Syariah bank is a banking system which is developed as syariah Islamic law. Contrat is declaration between syariah bank and client which is the base transaction in syariah bank. The function of syariah bank is managing the client found investment, serving the client as a rule. As long as the rule is not contrary with syariah principle, syariah bank must manage zakat and social found right.

The concepts of syariah banking are:

1.      Association found concept:

a.       Al wadiah (giro)

b.      Al mudharabah (savings and deposito)

2.      Transferring found concept:

a.       Dividing outcome (mudharabahdanmusyarakah)

b.      Purchase and sale (murabahan, salam, istishan’, ijarah)

c.       Service (qardh, hawalah, kafalah, wakalah, rahn)

The characteristics of syariah banking are:

a.       Universal: universal for everyone without any disparity in economic status or religion.

b.      Fair: fair in giving found and service for client. In other word, give the client found and service as the proportion, and also forbid maysir (speculation), gharar (unclear), haram, and riba.

c.       Transparent: the activity is transparent. Therefore, the activity in banking is open for everyone.

d.      Balance: balance in developing money sector which through the activity of syariah banking. And it also covers in real sector and UMKM.

e.       Maslahat: give the advantages and bring a goodness for all life aspect.

f.       Variable: all the products are various, begin with haji and umroh savings, general savings, giro, deposito, payment which based on dividing outcome, purchase and loan for custodian service product, transfer service and payment service (debit card. Syariah change).

g.      Facility: receiving and channelization zakat, infaq, sedekah, wakaf, good deed found (qard), ATM, mobile banking, internet banking, and interconnection with syariah bank.

The requirements of transaction in syariah bank are: there is no criminal element, there is no riba, does not endanger relevant parties, there is no manipulation (gharar), does not contain forbidden material, and there is no gambler (maisyir).

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Forex Definition

Foreign exchange is (forex) is the foreign currency, such as U.S. dollars, British pounds, and so on. For example, when the two countries are holding international trade, each country needs foreign exchange to pay foreign equipment, which in the world is called foreign exchange trading. Thus, arises supply and demand of foreign exchange in the foreign exchange market. However, it could be in completing the transaction does not use both the country's currency, but the currency of a third country, such as the dollar. This could happen if the exporter or importer does not have the local currency of each country or currency of the two countries are very rarely traded because its currency is very weak. This means that the currency is the currency used it popular in both countries, such as the dollar.

Foreign exchange in terms of English language known money changer or foreign exchange, while the Arabic term al-Sharf called. In the dictionary al-Munjid fi al-Lughah mentioned that al-Sharf means selling money with other money. Al-Sharf harfiyah which means the addition, exchange, avoidance, or buying or selling. Thus al-Sharf is an exchange sale and purchase agreement with other currencies. Forex or al-Sharf freely defined as currency issued and used as legal tender in other countries. The discussion was also arranged in forex National Sharia Board Fatwa Council of Indonesian Ulama no: 28/DSN-MUI/III/2002, on Sale Buy Currency (Al-Sharf).

Subject - the subject of foreign exchange

1. Company. The company uses foreign exchange market to facilitate the implementation of the transfer of investment or commercial. They use the foreign exchange market for investment purposes.
2. Communities or individuals. Communities and individuals can conduct foreign exchange transactions to meet their needs.
3. Commercial Banks and Non-Bank. Commercial bank and non-bank operating in both the interbank market and customers. They serve customers who want to trade forex. This they make a profit by buying foreign currency on demand price (bid) and sell it back at a slightly higher price than the offer price (offer).
4. Broker or Broker. Broker or intermediary is a person or company whose job is to be the intermediary currency transaction activity.
5. Government. Government conduct foreign exchange for various purposes such as debt repayments to foreign countries, acceptance of foreign debt that had to be converted to the currency itself.
6. Central Bank. In many countries, central banks are not under the control of government, he is an independent agency in charge of stabilizing the economy.
7. Speculators and arbitrage. They are doing transactions in the foreign exchange market to make a profit. (by: hasna umama 11220007)

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Status and position of Bank Indonesia

Bank Indonesia

BY: Farisca Eka Rosalina HBS A 11220016

Status and position of Bank Indonesia.

As an Independent State Institutions. New chapter in the history of Bank Indonesia as an independent central bank that begins when a new law , UU 23/1999 about  Bank Indonesia , declared effective on May 17, 1999. This law gives the status and position as an independent state agency and free from government interference or other parties .

As an independent state institution , Bank Indonesia has full autonomy in formulating and carrying out any duties and responsibilities as specified in UU . Outsiders do not interfere with the performance of duties is justified by Bank Indonesia and Bank Indonesia are also obliged to reject or ignore any intervention from any party . To further ensure the independence , this law has given special status to Bank Indonesia in the constitutional structure of the Republic of Indonesia . As an independent state institution notch Bank Indonesia does not align with state executive bodies . In addition , the position of Bank Indonesia is also not the same as the Department , because the position of Bank Indonesia is out of the Government . Status and the special position of Bank Indonesia is needed in order to carry out its role and function as a monetary authority more effectively and efficiently.

As a Legal Entity.

 Bank Indonesia's status as a legal entity either public or private legal entities established by law . As a public entity Bank Indonesia has set the rules of law which is the implementation of the laws that bind the entire public in accordance with the duties and responsibilities. As a civil legal entity , Bank Indonesia may act for and on behalf of themselves inside and outside the court .

Goals and Tasks of Bank Indonesia

In its capacity as a central bank , Bank Indonesia has one single purpose , namely to achieve and maintain rupiah stability . Stability of exchange rate contains two aspects , namely the stability of the currency for goods and services , as well as the stability of the currency of another country . The first aspect is reflected in the development of the inflation rate , while the second aspect is reflected in the rupiah exchange rate against other currencies . This formulation is intended for the sole purpose of clarifying objectives to be achieved by Bank Indonesia as well as the limits of their responsibilities . Thus , whether or not the goal is achieved the Bank Indonesia will eventually be measured easily .

Three Main Pillars

To achieve the goal of Bank Indonesia is supported by three pillars which are the three areas of its work.

The third field of this task is :

• Establish and implement monetary policy .

• Set up and maintain smooth operation of payment systems , and

• Organize and supervise banks in Indonesia.

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