Existence of Dependent Rights Guarantee Binding Related to Financing of Musyarakah Facilities in Islamic Banking

Abstract

In the musyarakah financing contract, there is the imposition of mortgage rights, which will be auctioned if the customer does not pay the installments to the Islamic bank. However, the concept of musharakah itself does not recognize any mortgage rights, because musharakah adheres to the principle of profit sharing and losses being shared, with the imposition of mortgage rights on musharakah financing creates legal uncertainty for customers, because banks do not want to bear losses together with customers. From the results of the study it was concluded that, the implementation of the binding of mortgage guarantees in musyarakah financing is basically the same as the binding of mortgage guarantees on conventional banks, only regarding the execution of mortgage guarantees musyarakah financing in Islamic banks Courts while in conventional banking in the District Court, and the binding of Mortgage on musyarakah financing is not guaranteed by law, in Law No. 21 of 2008 concerning Islamic Banks it does not regulate mortgage rights in musyarakah financing, and also the imposition of mortgage rights on musyarakah financing proves that Islamic banks do not want to participate in the loss of musharakah financing. With the uncertainty due to the imposition of mortgage rights on musyarakah financing, customers do not get certainty of their rights actually in musharakah financing.