THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND?
<p><strong>Objectives – </strong>this research is aimed to compare those epistemological bases to the mindset of Islamic Bank and try to drive the philosophy in practical operation whether based on the Fractional Reserve Banking Sytem (RBS) or 100% RBS and analyze the challenges in...
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| Format: | Article |
| Language: | English |
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Tazkia University College of Islamic Economics; Association of Islamic Economics Lecturers
2017-06-01
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| Series: | Tazkia Islamic Finance and Business Review |
| Subjects: | |
| Online Access: | http://tifbr-tazkia.org/index.php/TIFBR/article/view/98 |
| _version_ | 1828157298634129408 |
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| author | Yaser Taufik Syamlan |
| author_facet | Yaser Taufik Syamlan |
| author_sort | Yaser Taufik Syamlan |
| collection | DOAJ |
| description | <p><strong>Objectives – </strong>this research is aimed to compare those epistemological bases to the mindset of Islamic Bank and try to drive the philosophy in practical operation whether based on the Fractional Reserve Banking Sytem (RBS) or 100% RBS and analyze the challenges in deploying the 100%RBS. </p><p><strong>Methods - </strong>This research will be conducted based on an extensive literature review.</p><p><strong>Results - </strong>Based on the epistemological analysis of money and the business cycle as well as the views of Islamic scholars, 100%RBS should be the best for Islamic Bank. There are four types of 100% RBS namely Pure Commodity Money, Sovereign Money, Narrow Banking, and Limited Purpose Banking. To deploy it into the economic system, another philosophical work should be done to choose one of the types and strengthen it so that the theory of 100%RBS can be implemented for the goodness of Islamic Bank. </p><p><strong>Conclusion - </strong>In Conclusions, Based on the epistemology defined by Islamic Scholars, FractRBS has more <em>mafsadah</em> if we compare to the maslahah. Therefore, 100% RBS should be better for the Islamic Bank.</p> |
| first_indexed | 2024-04-11T23:26:22Z |
| format | Article |
| id | doaj.art-328c449e47144d4da342bc4f6efce3a7 |
| institution | Directory Open Access Journal |
| issn | 1907-8145 2460-0717 |
| language | English |
| last_indexed | 2024-04-11T23:26:22Z |
| publishDate | 2017-06-01 |
| publisher | Tazkia University College of Islamic Economics; Association of Islamic Economics Lecturers |
| record_format | Article |
| series | Tazkia Islamic Finance and Business Review |
| spelling | doaj.art-328c449e47144d4da342bc4f6efce3a72022-12-22T03:57:17ZengTazkia University College of Islamic Economics; Association of Islamic Economics LecturersTazkia Islamic Finance and Business Review1907-81452460-07172017-06-0110110.30993/tifbr.v10i1.9878THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND?Yaser Taufik Syamlan0STEI Tazkia<p><strong>Objectives – </strong>this research is aimed to compare those epistemological bases to the mindset of Islamic Bank and try to drive the philosophy in practical operation whether based on the Fractional Reserve Banking Sytem (RBS) or 100% RBS and analyze the challenges in deploying the 100%RBS. </p><p><strong>Methods - </strong>This research will be conducted based on an extensive literature review.</p><p><strong>Results - </strong>Based on the epistemological analysis of money and the business cycle as well as the views of Islamic scholars, 100%RBS should be the best for Islamic Bank. There are four types of 100% RBS namely Pure Commodity Money, Sovereign Money, Narrow Banking, and Limited Purpose Banking. To deploy it into the economic system, another philosophical work should be done to choose one of the types and strengthen it so that the theory of 100%RBS can be implemented for the goodness of Islamic Bank. </p><p><strong>Conclusion - </strong>In Conclusions, Based on the epistemology defined by Islamic Scholars, FractRBS has more <em>mafsadah</em> if we compare to the maslahah. Therefore, 100% RBS should be better for the Islamic Bank.</p>http://tifbr-tazkia.org/index.php/TIFBR/article/view/98fractional reserve banking system, 100% reserve banking system, islamic banking, epistemological |
| spellingShingle | Yaser Taufik Syamlan THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND? Tazkia Islamic Finance and Business Review fractional reserve banking system, 100% reserve banking system, islamic banking, epistemological |
| title | THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND? |
| title_full | THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND? |
| title_fullStr | THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND? |
| title_full_unstemmed | THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND? |
| title_short | THE EPISTEMOLOGICAL PERSPECTIVE OF FRACTIONAL RESERVE BANKING AND FULL RESERVE BANKING: WHERE ISLAMIC BANKING SHOULD STAND? |
| title_sort | epistemological perspective of fractional reserve banking and full reserve banking where islamic banking should stand |
| topic | fractional reserve banking system, 100% reserve banking system, islamic banking, epistemological |
| url | http://tifbr-tazkia.org/index.php/TIFBR/article/view/98 |
| work_keys_str_mv | AT yasertaufiksyamlan theepistemologicalperspectiveoffractionalreservebankingandfullreservebankingwhereislamicbankingshouldstand AT yasertaufiksyamlan epistemologicalperspectiveoffractionalreservebankingandfullreservebankingwhereislamicbankingshouldstand |