Islamic Economic System judged more fair
Islamic Economic System judged more fair and balanced, and there are similarities between the position of borrowers and lenders than conventional economic.
Co-author Development in Islamic Banking Ishaq Bhatti said that because the position equation, the welfare of society more open to Islamic economics. This balance is also a cause both parties are responsible in the event of undesirable during the contract period. “Lenders (Islamic banks) will assist with re-negotiate its terms and condition,” said Bhatti, Australia through the International Education Seminar Series, at the Australian Embassy, Jakarta, Thursday (23 / 4).
He continued economic strength of sharia is a partnership. Where power is not only the lenders. “Borrowers and lenders both work together to protect the capital. If the profit or loss they will feel, “he said.
While conventional financial system based on commercial usury. In addition, the conventional banking, value of money is influenced by inflation. “In fact, inflation is not predictable,” he said.
Currently in the Islamic financial world manages about 500 billion U.S. dollars. This number increased in 1985 compared to only 8.5 billion dollars for U.S..