World economic crisis that has lasted since 2008, has hit world economic giants, such as the United States and the blue continent, Europe. Market economic system in force has affected the destruction of the economic fundamentals of these countries. Free trade system has led to global imbalances. Export-oriented countries and importing countries do not have balance in the balance of trade. Resulting in current account deficits in some countries. An example is Uncle Sam’s country, the United States. As the development of an economic system dominated by the consumption sector, causing the need for some goods produced abroad increases. There is also a free foreign exchange system, which resulted in exchange rate / currency exchange rates each country change over time. Changes in currency exchange rates have pushed inflation resulted in rising prices of goods.
Economic instability in some countries, especially starting from the financial sector / banking, and then will affect the real sector. Monetary crisis in 1998 as an example due to the downfall of the banking sector. It is worth also understood that the financial sector in Indonesia is still categorized weak and heavily influenced by external factors and regional development. This is obviously not beneficial because it means the national economy is very dependent on economic conditions in other countries. Indonesia’s banking system is still adhered to the free foreign exchange system is also highly susceptible to exposure to the crisis appears suddenly. When you see the size of Indonesia’s foreign exchange reserves, currently at $ 76 billion (source: BI), is still a question mark whether the ability to counteract the possibility of spontaneous emergence of a systemic crisis.
Another system is needed that can overcome various shortcomings of conventional financial systems that had been accepted in modern countries worldwide. The system is based on justice, which does not allow for speculation, giving rise to uncertainty. Islamic banking system offers these things. In principle, Islamic banking system is a system that having the teachings of Islam, namely the banking system which knows no usury. Riba in question is of interest that are generally provided by conventional banks. Islamic banking system prioritizes profit-sharing mechanism in every transaction.
There are several advantages of the sharia-based banks, such as transaction systems in the form of profit sharing was much more favorable when compared with the system of interest. With the banking system of revenue sharing has proven a strong resistance against the shocks from the global financial system,
On the Islamic banking system, not the introduction of borrowing money directly. However, a partnership model of cooperation, such as such as profit sharing (mudharabah), the principle of equity participation (Musyarakah), the principle of sale and purchase (murabahah), and the principle of leasing (Ijarah).
STRATEGY FOR IMPROVING THE ADVANTAGES OF ISLAMIC BANKS
Increased socialization is so great about the benefits offered Islamic banking be the key, especially for the segment of the religious community of Islam (Muslims). Islamic banking principles are derived from Islam but it applies universally. This means that any system of governance based on economic laws but not the version of Islam will be closed and only applies to Muslims.
The value of Islamic banking asset growth and showed a large increase. This shows the positive response of society to the existence of Islamic banks. However, to maintain continuity of growth and enhance the enthusiasm of the public about Islamic banking, it takes smart effort. Suppose that by inserting the Islamic banking program in religious-themed events, for example: teaching, tabligh akbar. The theme of economic and banking should be given continuously, thus empowering its people to continue to happen.
There’s also the displays the image or brand new, Islamic banking should be more open to the community and really menunnjukkan value / advantages. Improvement of human resources becomes one of the key so that Islamic banks can compete with commercial banks.