نوع مقاله : مقاله پژوهشی
1 استاد اقتصاد دانشگاه تهران.
2 کارشناسی ارشد اقتصاد دانشگاه تهران.
عنوان مقاله [English]
Since examining the banks’ function, that is, credit creation, is of high importance in the studies regarding Riba-free banking, the present article is directed towards examining in more depth the bank credit creation, and studies the formation of credit creation mechanism.
The findings show that credit, as social capital, can cause time transfer in the exchanges and become their temporary intermediary. However, its being formed requires mutual trust-based actions, whose process is time-consuming. Requiring different kinds of security and transforming trust into credit, banks create credit for individuals, and then, monetizing the credit, pay them loans. Given this mechanism, social capital is indeed transformed into economic one, and the main intermediary of exchanges substitutes for the temporary one.
This attitude towards bank formation and its operation process may raise such issues as the realm of private banks’ activities in Riba-free banking system or banking activity’s relation with wealth’s circulation and accumulation, and provide an appropriate topic for in-depth studies in the field of Islamic banking.
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