ANALISIS FATWA DEWAN SYARIAH NASIONAL MAJELIS ULAMA INDONESIA NOMOR 91/DSN-MUI/IV/2014 TENTANG PEMBIAYAAN SINDIKASI PADA PROYEK TOL SOLO-YOGYAKARTA OLEH BCA SYARIAH

Abstract

This research aims to analyze the DSN MUI Fatwa No. 91/DSN-MUI/IV/2014 which regulates Syndicated Financing in the MMQ Agreement Mechanism, with a focus on its implementation in the Solo Yogyakarta Toll Road Project by BCA Syariah. This research uses a qualitative method with a case study approach. The research analyzes in depth the implementation of the Fatwa on the syndicated financing of the Solo-Yogyakarta Toll Road project by BCA Syariah. The author uses secondary data, obtained from literature analysis including fatwas on syndicated financing and MMQ contracts, books, scientific articles (journals), and related news articles to understand the implementation of this fatwa. The research results show that BCA Syariah Bank collaborates with conventional banks and sharia, including Bank Rakyat Indonesia as Joint Mandated Lead Arranger & Bookrunner (JMLAB), as well as infrastructure financing institutions and regional banks, this financing shows an indication of the inclusion of sharia financing in large projects in Indonesia. DSN-MUI Fatwa No. 91 of 2014 ensures that the contracts used in syndication must comply with MMQ principles, which are a combination of Musyarakah and Ijarah. In syndicated financing, Islamic banks can participate in supporting the same project by sharing funds and risks according to the agreement. BCA Syariah's participation in syndicated financing provides a strong legal basis for carrying out syndicated financing practices in large projects involving more than one financial institution.