Imposition of Sanctions (Ta’zir) and Punitive Damages (Ta'widh) to Customers in Musyarakah Mutanaqishah Contract

Abstract

One of innovation products that is being used by sharia banking is MMQ (Musharakah Mutanaqishah). Some problems that often appear in this product are when customer can not pay monthly instalment as writed in the MoU between him and shariah banking. In this case, as writed at standard book of MMQ Product that published by OJK (outhority of financial services) allows shariah banking to give punishment or taking suffer a financial loss from costumer based on fatwa DSN NO. 43/DSN-MUI/VIII/2004 about taking suffer a financial loss (ta’widh) and fatwa DSN NO: 17/DSN-MUI/IX/2000 about Punishment (ta’zir). Here, the author wants to make a research about legitimation of fatwa DSN NO. 43/DSN-MUI/VIII/2004 about taking suffer a financial loss (ta’widh) and fatwa DSN NO: 17/DSN-MUI/IX/2000 about Punishment (ta’zir) in MMQ.