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Savings in Bank Syariah Based

Which is more profitable, saving money in a Syariah bank or a conventional bank ? We see differences in the goals of conventional banks with Syariah banks. Conventional bank was established to benefit the maximum of material, while the  Syariah bank was established to provide material and spiritual welfare. Material and spiritual welfare is obtained through the efforts of fund collection and distribution of halal. This means that Syariah banks would not distribute funds to the business of liquor manufacturers or other businesses that can not be guaranteed that the results derived from lawful activities.

Because it can be said that the concept of profit in the conventional banks is more likely, focus on the point of the material benefits, whereas the concept of profit in Syariah banks should consider the benefits in terms of temporal and ukhrawi (Hereafter).

If the customer is the purpose in accordance with the purpose of sharia banking, then in principle there is no shortage of savings in Syariah banks because of the balance between worldly and ukhrawi. However, if the destination is more customers to the material aspects, the benefits could be obtained would be less in line with expectations.

For more details, we try to compare between conventional savings account with a savings of applying the principles of sharia, or for the results mudharabah, as follows:

Conventional Savings:
- Flower size has been determined in advance by the bank regardless of whether the bank was a profit or not.
- The amount of interest is whether the bank’s fixed loss or profit. Although the economy was booming and banks are getting a lot of profit, but still of interest given to customers has not increased.

Savings  Syariah (the principle of results):
- Not offered flowers but for the result and the first set is the ratio (ratio) between the customer benefits and the profits earned by banks, eg 60:40 means that 60 percent of profits for the customers and 40 percent of profits for banks. Therefore received the benefit of profits depending on the customers acquired by the bank.
- The amount of benefits received by customers will increase as the bank’s profits are booming.

In Syariah  banking system does not apply because the interest rate is usury, in other words, Islamic banks avoid the wronged party or menzalimi.

For example we see customers saving with flowers (conventional banks), at the time of economic crisis, saving the customer a higher interest rate and the bank be the “wronged” because the bank was very lost, but must pay higher interest to customers.

While the economy was booming when the party becomes the customer’s savings are “oppressed” because interest earned remain small even though the bank was a big benefit. Things like the above will not occur in Syariah banks to apply the principle to the results.

Tags: conventional bank, customers, economy, Islamic bank, saving money

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