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08 June 2005
Interest-Based Banking
[27 :]
We have put forth for men, in this Quran every kind of parable, in
order that they may receive admonition. [Az-Zumur 39: 27]
2.
3.
No riba.
2.
No gharar
3.
4.
2.
3.
4.
5.
Bank
(2) Cash
Client
(4) Principal +
Interest
Client
Supplier
(3) Fridge
(1) Cash
Supplier
Bank
(2) Fridge
10
Bank
(6) Sale
Proceeds
Client
(4) Goods
(3) Inputs
(1) Loan
(2) Expenses
(1) Financing
Client
Bank
(2) Goods
(4) Sale
Proceeds
(3) Goods
Output
Market
Factor
Markets
Output
Market
11
Bank
PIA
(4) Deferred
Rental
Bank
(3) Sub-Lease
CP
(3) Lease
(4) Principal
+ Interest
PIA
(2) Lease
Money
(1) Lease
Money
CP
(2) Lease
12
(5) Capital +
Profits
Client
Bank
Economic
Activity
(2) Investment
(1) Loan
Client
(1) Capital
by both
Joint
Venture
Bank
(4) Capital + Share in Profits
(3) Capital +
Profits
(2) Investment
Economic
Activity
13
Modarabah or Musharakah
(4) Principal
+ Interest
(3) Principal
+ Interest
Bank
Saver
Economic
Activity
(2) Financing
(1) Loan
Saver
(1) Capital
by both*
Bank
Joint
Venture
(3) Capital +
Profits
(2) Investment
Economic
Activity
14
Sale Agreement
16
Ijarah Financing
1.
2.
Note:
Obligations of the Producer
seeking financing, would stand
discharged with delivery of the
merchandize.
Note:
The Bank may need to enter into
separate agreements with third
parties for maintenance and
similar other requirements for
lessors.
17
Note:
18
19
Mute Investments
Investments involving
SFI,
Value-added Activity
MFI, IJFI
MFI,
IJFI, MUFI
MOFI
DEPOSITS
Current Accounts
Term Deposits
General Savings Deposits
Deposits with Stable Income Flows
20
Caution:
Islamic banks cannot pursue the delegation
course to the point of negation of their own
role function.
21
Banks
Investors
(Fund-seekers)
Existing Interface
Financial Intermediation based on Loan Transaction
Savers
(Depositors)
Banks
Investors
(Fund-seekers)
Shariah-based Interface
Financial Intermediation based on Several Transactions
22
Note: Islamic banking should not be confused with universal banking.
24
26
The
Client
ent
m
e
e
Agr
e
l
a
3. S
The
Bank
6. Installments
5. Delivery
4. Payment matters settled
2. P
urch
a
se A
gree
m
ent
The
Supplier
28
Bank
Client
2. Agency Agreement
3-A. Purchase Order as agent of Bank +
Payment Advice to Bank
3-C Delivery +
Possession
Seller
29
Bank
Client
Seller
30
The
Bank
2. Payment
3. Car
The Car
Dealer
The Client
5. Down-payment + Rental
Agency Relationships
(for maintenance & other matters)
32
THANK YOU
10 June 2005
34