I aim, in my dissertation to establish a Islamic credit card model in the Britain money market and is for specially Britain’s Islamic bank. There is no Islamic credit card available till today in Britain, and the only Islamic’s financial institute is Islamic Bank Of Britain.
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when the Persian Gulf States Bank has visits new plans Muslim to believe and to provide them the credit card. Their method is very attractively to principal and granter or the guarantee based on the system. My financial model will simultaneously carry out the religion and financial anticipated two. Perhaps this model also has loads impracticability’ s as for is, because perhaps by Britain’s Islamic’s bank’s use or they are I knew needs complex procedure.
I planed about Construction of Islamic credit card the finance model and specially for s money market. Goal in somebody’ Followed; the s heel is the academic lecture core goal.
1. Discovers credit card ‘ According to Islamic legal (Shariah) s function about payment style.
2. In British appraisal credit card market, and may Muslim use these cards.
3. Provides credit card ‘ s reliability and in Islamic market revelation function.
4. Anything about in Islamic credit card ‘ Use; These s suitable model existence concept in credit card ‘ Use aspect; Discovered that the latent Islamic principle’s s function credit card is?
What Is Credit Card.
The credit card possibly is defined to arrive invariable compensation card that to propose may to purchase cardholder’s credit specific quantity which and pay the flowered amount.
Outstanding widespread balanced, in is assigned in the time is may pay, or the interest will cause on surplus balanced. (Paxon and five, 1998)
History of Credit Card.
The credit card system’s first type is developed in the US. Later in 20 centuries at the beginning, will use in the metal plate to the Western Alliance and other financial institute recording the customer detail and the account. The Flatbush State bank introduced its monthly allowance account bank accountholders in 1947. In 1951, the Franklin State bank was issues credit card’s first financial institute to other bank customer. (Lindsey 1980). the diners club issued in 1950 the first modern credit card, and was called the travel and the entertainment (T & E) card. The US express followed the visitor who ate meal to club and to provide in had the credit period characteristic between the expense and the payment for the credit card 1958, but did not have the partial payments facility. (Wonglimpiyarat 2005) the national credit card first developed and allows it to stretch across Earth’s other banks in 1966 from the American Bank. Will become all things as for the result rival by later to result in the card between the bank and the main charge name which will provide is joined. (Frazer 1985)
The Credit Card In Britain.
Barclays issued in 1966 the first credit card in the agreement later by the American Bank. Barclays imports all facilities and the structure in Britain revises the American Bank operation. (Wonglompiyarat 2005)
Credit Card System.
The visa, the switch and Master manage under the four directions plan. These all transactions through the plan involvement are four main parties;
Holder of the card, through the use of card, pays the payment,
The card publisher, provides the card to the user, and runs the trading account,
The retail merchant, sells the goods or the service back-spacing promise for the payment.
Merchant acting as a purchasing agent, the absorption retail merchant, obtains from the card publisher’s payment and the repayment gives the merchant. They have frequently with the merchant, but it’s Relations; does not force.
Islamic Bank Of Britain.
Islamic Bank Of Britain is only Shariah the obedient financial service authority (FSA) authorization financial institute in Britain. It started its operation and located at three British various cities and the branch in 2004 in London and the main office in the Birmingham. Other Islamic’s bank, I elect likely the bank goal also will provide the choice for the regular mechanics of banking through to avoid interest (Riba) and definitely to maintain the money only spends at the moral enterprise. At present the bank expands its product rapidly and serves two pair of current finances and the banking industry crisis, the Islam community in Britain, the availability non-interest credit card, in massive the growth Islamic’s mechanics of banking, chooses the choice modern mechanics of banking product and the service, the integrated Islamic financial concept is looking like Lloyds TSB modern bank neutral HSBC and is not voluntarily the high interest rate strong existence rule credit card. (www.islamic-bank.com)
In today’s society the credit card uses the achievement to pay money a basic way. Has to credit card’s various uses for example payment, the Credit facility, the cash advance easy way and as for the status symbol. Presented the payment proposition money value way compared with Islamic credit card and the conventional credit card, has various questions which a lower penalty spends, provides free bonus year after year, a fancier look and the proposition expense gives up. (Ma’ Sum total Billah 2001). Islam permission use credit card, because it does not incur the interest, and at the same time it does not violate Shariah any rule. (Ahamad and lake huron 2002). Whether I did know the credit card service only pays the main amount as for the user to add on operates and the overhead charge credit card, the financial entry is permitted, because it does not involve any kind in the Islam the element benefit which forbids. (in el Azura 2006). The use to pays money other way credit card’s advantage for the purchase, the cost effectiveness, the security and the world acceptability is easy to use. (Mohammad 2003).
In the Middle East and Malaysia the method which discussed, anticipated financial model and gift payment method and religious belief flaxen cloth. The research possibly completes the explanation, but is may be the description possibly takes the bank with it to this domain research union important work.
The hypothesis has the limited research in the region Islamic credit card in Britain. (2007) the Shah pale research which and the discovery conducts has in the human limited aware about Islamic credit card. Mohd (2008) has identified influence Islamic credit card usage several factors for them. Had has developed following three hypotheses;
H1: Technical and the function service’s quality has to immediate influence Islamic credit card user.
H2: The religion has positive influence to the usage of Islamic credit card.
H3: The culture is directly affects Islamic credit card’s choice, the usage and satisfaction.
The research methodology based on secondary data heavily. My research may use to the bank website in the Middle East and Southeast Asia and various origin together for example article, the research, the journal and the book. Other origins and insure London including on-line Islamic’s institute mechanics of banking, the Middle East banker magazine library Islamic finance (www.maktabonline.com), journal and complete other on-line resources. Because appears self-confidently in the promiscuous method has the research qualitative and the quantitative method mix. Except that beside further studies may be appears to the possibility to it with the current research findings.
Core goal, if the research is the development to the financial model Islamic credit card Britain’s Islamic bank. Bank possibly for theirs credit card research applications research at that time credit card in theirs stock list, but its long waiting. The report will also highlight the key question for example in massive the general manner, the belief and the perception about the non-interest Islamic product and the service option and the usage. The report is willing in the modern day mechanics of banking also to show the convention mechanics of banking system choice and Islamic financial concept integration, and, when result trend toward mechanics of banking Islamic way.
Limits all hates diligently, the research has the loading limit. First it is limited Islamic the credit card and Britain’s Islamic bank. Next, the sample will be small, and will not provide to the population overall picture. It will concentrate mainly signs in upon arrival at work a broader picture in the merchant, because of it’ True s stemming from found individual the control use Islamic financial organ. Also the will did not think that perhaps the religious responder and it neglects to the Islamic financial service Islam user’s great proportion.
What the conclusion Islamic Bank of Britanavoids establishing likely is the regular mechanics of banking provides chooses other Islamic bank interest (Riba) and definitely maintains the money only spends at the moral enterprise
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