DSN MUI Research Articles

Fatwa DSN-MUI No. 04/DSN-MUI/IV/2000 tentang Murabahah: Refleksi Kritis terhadap Implementasi BSI Dimensi Ekonomi Islam

This research aims to examine the Implementation of DSN-MUI Fatwa No. 04/DSN-MUI/IV/2000 concerning Murabaha in terms of Islamic economic aspects. This type of research is descriptive qualitative to explain narratively the results of research that are more concrete and in-depth. The approach used is normative, namely studying the DSN MUI fatwa regarding murabahah contracts in mortgage products implemented by Bank BNI Syariah Parepare Branch, which today has transformed into Bank Syariah Indonesia. The research results were obtained by observing and using direct interviews with informants. The results of the study found that the housing implementation of Indonesian Islamic Bank (BSI) mortgage products was in line with the DSN-MUI Fatwa No. 04/DSN-MUI/IV/2000 concerning Murabaha which is based on the context of the customer's needs to realize falah welfare together based on the principles of Islamic economics.

TRANSFORMATION OF IJARAH CONTRACT: The Review of The Concept and Its Implementation in Islamic Banking

Innovations in sharia banking products and services in Indonesia continue to experience significant developments. This is important to do to answer the needs of recent financial transactions. Various financing products with various contracts have been applied by Islamic financial institutions. One of the products developed is ijarah-based financing. However, different viewpoints regarding the legal validity of ijarah with its various types are still being discussed among academics and practitioners. The concept of ijarah itself was practiced in early Islamic era and continues to be practiced today in various contemporary financial transactions. This study aims to review the process of transforming ijarah principles to the development of their varieties, as well as related legal and regulatory provisions as a basis for implementation in the development of financing products in Islamic banking and finance. This research was a qualitative research using a literature study approach with descriptive analysis. This study concludes that several texts from the al-Qur'an and Sunnah explain the concept of ijarah and its permissibility according to sharia. Nash explains at least two types of ijarah, namely ijarah in service and asset leases. Both were revealed in the provisions contained in the KHES, PBI, as well as several DSN MUI fatwas. These regulations form the basis for implementing ijarah, IMBT, and IMFD in various sharia banking products and services.

The Conception of Sharia Fintech Lending and Its Regulatory Preparedness in Indonesia

This study aims to describe the concept of Sharia Fintech Lending and its regulatory readiness in Indonesia. Along with the development of technology and online lending issues that are troubling the public, sharia fintech lending grows and develops. However, the challenges of online lending make this industry little known to the public, so its development tends to be slow. In quantitative terms, this industry is not as much as conventional fintech. Therefore the government (OJK) initiated regulations for this industry supported by the DSN MUI Fatwa. However, after it was implemented, it turned out that there were many obstacles that hindered the growth of sharia fintech lending. Based on the research findings, OJK needs to review this regulation to make it more flexible and support the development of Islamic banking fintech more rapidly

Equity Crowdfunding: Financing Instruments MSMEs Compilation of Perspective Sharia Economic Law

This study aims to analyze financing instruments for micro, small and medium enterprises (MSMEs) through equity crowdfunding and examine equity crowdfunding in the perspective of compilation of Sharia economic law (KHES). This type of research is descriptive qualitative research, namely research that seeks to describe and explain the data obtained with secondary data. This study uses a literature research approach, where the data sources are obtained from literature studies and various kinds of literature that are worthy of discussion, including the study of OJK Regulation No. 37/POJK.04/2018 and DSN MUI Fatwa No. 117 /DSN-MUI/II/2018. The results of this study indicate that the financing instrument carried out contains business actors, investors and fund distribution institutions. While the review of Islamic economic law regarding equity crowdfunding leads to 2 types of contracts, namely mudharabah and musyarakah contracts that can be used as references.

Analysis of the Effect of Macroprudential and Macroprudential Indicators on the Stock Price Index of Islamic Banks in Indonesia Using the Error Correction Model

The experience of various crises that have occurred, including the impact of the Covid-19 pandemic, presents a challenge to implement macroprudential policies to ensure the financial system survives and continues to carry out its function in driving the economy. The existing microprudential policies tend to be individual and focus on prudent banking and other financial institutions. Economic fluctuations that occur on the macro side will greatly impact, either directly or indirectly, on the stock price index, as well as the company's internal indicators which are considered to have a major influence on the decisions of investors and potential investors to take action on the stock exchange. The type of research used in this research is quantitative research. The nature of this research is descriptive with a quantitative approach. The data collection technique in this research is Literature Study. The test carried out in this study is the multiple linear regression analysis test (multiple linear regression method), this study uses the ECM model to obtain the best model which includes the classical assumption test. The results of this study based on the partial short-term relationship test, it can be concluded that the Exchange Rate, Inflation and TPF in the short term have no significant effect on the PNBS Stock Price Index. Meanwhile, short-term CAR has a significant positive effect on the PNBS Stock Price Index. Based on the results of the partial long-term relationship test, it can be concluded that in the long term the Exchange Rate has a significant negative effect and TPF and CAR have a significant positive effect on the PNBS Stock Price Index while Inflation has no significant effect on the PNBS Stock Price Index. Based on the output results of the simultaneous short-term and long-term F test, it shows that all independent variables simultaneously have a significant effect on the PNBS Stock Price Index in the short term. Based on the provisions of the MUI DSN through the issued fatwas related to the sharia capital market and sharia shares, it is explained that sharia stock investment with the aim of investing according to the perspective of sharia economic law is allowed

The Legal Protection for Security Crowdfunding Based on Sharia Investment in MSMEs Economic Recovery

The security crowdfunding (SCF) provides collective fundraising services for MSMES who have difficulty obtaining funding without collateral based on OJK Regulation No. 16/POJK.04/2021, the SCF investment rules above don’t explicitly discuss investment activities in sharia-compliant securities for halal business financing that are free from Riba, maysir, and gharar elements. The purpose of this research is to examine the sharia economic legal protection for SCF investment contract transaction model and its legal implications in case of invalidity. This research uses a conceptual normative legal approach with a descriptive qualitative analysis. The results show that the contract activities in halal MSMES crowdfunding investment transactions have not fulfilled the principles of the Syirkah akad based on the Sharia Economic Law Compilation, which is from the expression side, the occurrence of ijab qabul (offer and acceptance) is not clearly in accordance with sharia, so the SCF contract can be invalidated and all activities related to the transaction are considered haram. Therefore, an issuer from DSN MUI is needed to guarantee that the SCF complies with sharia principles and has a sharia compliance officer.

Relevance of Compliance on Islamic Law by The Construction of MUI DSN Fatwa on Murābahah Financing Products at BMT Khasanah Tawang, Weru

Murābahah is one of the financing products at BMT Khasanah Tawang, Weru Sragen that is most in demand by customers or the public. Basically there are no ribawi provisions from the profits of murabahah transactions. The concept of murabaha contract transactions is more transparent, because murabaha schemes in financial institutions are required to notify customers about price objects or products and agree on the benefits received by the institution. So transactions must be carried out in a trustworthy and honest manner. In Murabahah there are conditions that must be met by financial institutions in Indonesia. According to DSN MUI Fatwa No. 04/DSN-MUI/IV/2000, the first provision of article no 5 that banks buy goods needed by customers on behalf of their own banks, and these purchases must be lawful and free of usury, in other words the bank must first purchase goods or assets ordered by customers legally and free from usury. And in the DSN-MUI fatwa number 17/DSN-MUI/IX/2000, it has been explained in the first decree no. 2 that customers who are unable or unable to pay due to force majeure may not be subject to sanctions. Problems at BMT Khasanah Weru are customers who use capital financing for personal needs. The method used in this research is descriptive qualitative, data collection is done by means of interviews, documentation and observation. The results of the research on the application of Murābahahat BMT Khasanah Tawang, Weru the application of Murabahah financing products is in accordance with DSN MUI fatwa No. 04/DSN-MUI/IV/2000 and DSN-MUI fatwa number 17/DSN-MUI/IX/2000. BMT Khasanah Tawang addresses the problems of customers who use capital financing to buy personal needs with several evaluations.

Penerapan Akad Mudharabah Muthlaqah dan Akad Wadi’ah Yad Dhamanah Dalam Tabungan iB Hijrah Pada PT. Bank Muamalat KCU Medan Baru

iB Hijrah Savings is a savings account that uses mudharabah and wadi'ah contracts. The research problem is that many customers save at Bank Muamalat, but the average customer who saves does not know how to apply the calculation of mudharabah and wadi'ah contracts to iB hijrah savings. The formulation of the research problem is how to apply the calculation of mudharabah muthlaqah and wadi'ah contracts in the iB Hijrah savings product. The purpose of the study was to find out how the implementation of mudharabah muthlaqah and wadi'ah contracts in iB Hijrah savings products. The theory used is first, DSN Fatwa No: 115/DSN-MUI/IX/2007, regarding the mudharabah contract it should be stated explicitly, clearly, easily understood and understood and accepted by the parties. Second, DSN Fatwa No: 02/DSNMUI/IV/2000 concerning savings based on wadi'ah are deposited. This research is a qualitative research with a descriptive approach. The types of research data are primary and secondary data sources. Data processing techniques. Data collection techniques with interviews, observation, and documentation. Data analysis techniques with data reduction, data editing, data presentation, conclusions and data verification. Data validity technique. The application of the mudharabah contract on iB Hijrah savings is explained about the product, the contract that the customer wants and the application of the contract will be explained in sharia, then the ratio given by the bank to the customer is 5%. Lack of socialization of Bank Muamalat to the public so that they do not know the profit sharing in the iB Hijrah savings product. The implementation of the wadi'ah contract on iB Hijrah savings is in accordance with Islamic law based on the Fatwa of the MUI DSN No. 2/DSN-MUI/IV/2000. Which states that wadi'ah is a deposit. 
 Keywords: application, mudharabah, and wadi'ah contracts

ANALISIS PENERAPAN SHARIA COMPLIANCE DALAM PRODUK PEMBIAYAAN AKAD MURABAHAH

This study aims to describe the role of the Sharia Supervisory Board (DPS) towards sharia compliance and to analyze the application of sharia compliance in murabaha contract financing products. The research method used is normative legal research with a qualitative approach. In this study, researchers examined concrete legal regulations and substantial regulations accompanied by supporting literature in the form of literary sources that were relevant to the research object being discussed. The results of the study show that the existence of the Sharia Supervisory Board (DPS) is to guarantee and supervise Islamic banks so that they remain in the corridors of Islamic law. The role of the Sharia Supervisory Board (DPS) is very crucial in the implementation of sharia compliance in Islamic banks in Indonesia. The role of the Sharia Supervisory Board (DPS) at the technical level of banking operations is very important considering the duties, responsibilities and authorities they have. The Sharia Supervisory Board (DPS) in carrying out their duties can be active or responsive. The Sharia Supervisory Board (DPS) must actively supervise, collect data, analyze and correct various findings of sharia non-compliance in an Islamic bank. Financing with a murabaha contract that has been practiced by Islamic banking has deviated from several provisions in the DSN MUI Fatwa and there is a conflict with the legal terms of a sale and purchase agreement with a murabaha contract, namely the bank fully represents the customer to buy and receive goods from suppliers and gives the right to carry out deed of sale and purchase for and on behalf of the customer himself directly with the supplier. Islamic banks should first buy the object before the object is sold to the customer and also in this practice only one sale and purchase transaction, namely between the supplier and the customer. Based on DSN MUI Fatwa No. 04/DSN-MUI/IV/2000 concerning Murabahah, murabahah financing must occur in two sale and purchase agreements.

Implementasi Fatwa Dsn-Mui No: 107/Dsn-Mui/X/2016 Tentang Pedoman Penyelenggaraan Rumah Sakit Berdasarkan Prinsip Syariah Di Rumah Sakit Qolbu Insan Mulia Batang

DSN MUI Fatwa No. 107/DSN-MUI/X/2016 on October 1, 2016 has stipulated the provisions that must be met by every Hospital that uses a Sharia-based system. So there is a difference between the General Hospital (RSU) and the Sharia Hospital. Recently, many hospitals have implemented sharia principles, especially in terms of their services, one of which is the Qolbu Insan Mulia Batang General Hospital. Therefore, this study aims to analyze and describe the implementation of DSN-MUI Fatwa No: 107/DSN-MUI/X/2016 at RSU Qolbu Insan Mulia Batang whether the service aspect is in accordance with DSN-MUI Fatwa No: 107/DSN- MUI/X/2016. This type of research is field research (field research) using a qualitative approach. Analysis of the data using descriptive qualitative. Based on the results of the study it can be seen that the management system of RSU Qolbu Insan Mulia Batang in implementing sharia principles which includes contracts, services, medicines, food and beverages and management of funds is not fully in accordance with the DSN-MUI fatwa No. 107/DSN-MUI/X//2016.

Implementation of Ultra Micro Financing Based on DSN-MUI Fatwa Number 119

There are many problems in the Kecil community, namely the lowest level, AMD, and reversed financing. Ultra-Micro financing is here to provide solutions to the lower classes of society who need capital loans. This financing is regulated by Fatwa of the National Sharia Council No. 119/DSN-MUI/II/2018. This study aims to discover how the practices, mechanisms, and governance of ultra-micro financing follow sharia. The method used in this research is the empirical observation method and the literature research method. First, gather various reading sources, such as newspapers and articles. The study concluded that the channelling institution is an Islamic financial institution following DSN MUI Fatwa No 119/DSN-MUI/II/2018. The source of Super Micro Financing funds is the DSN MUI fatwa, the practice of unlawful interest. The source of Super Micro Financing funds is the DSN MUI fatwa, the method of unlawful interest. Determination of profit margins in the DSN MUI fatwa No 119/DSN-MUI/II/2018 uses the concept of profit sharing and is based on a predetermined contract. Supermicro Financing dispute resolution, according to DSN MUI fatwa No 119/DSN-MUI/II/2018, Dispute settlement is carried out through a Sharia-based dispute resolution institution.

PENGUPASAN HUKUM PASAR MODAL SYARIAH TERHADAP HUKUM ISLAM

This research will discuss various types of Islamic sharia law that explore the Islamic Capital Market law. This law is based on the Fatwa of the National Sharia Council, Al Quran, Al Hadith and other laws regulated in Islamic sharia. Stripping the law of the is scrutinized through the verses of the Koran, Al Hadith, and the DSN MUI Fatwa. Other basic Islamic laws will not be examined but will provide additional theory and insight into Islamic law governing the Islamic capital market. In discussing Islamic capital market law on Islamic law, it is carried out using research methods based on references, library literature is followed by carrying out a normative juridical approach that is based on legal norms applied by the MUI DSN Fatwa. In addition to the law of fatwas, research is carried out based on sharia law based on the Koran such as Surah Al Baqarah (2:275), Surah An Nisa (4:29), Surah Al Maidah (5:1), Surah Al Jumuah (62:10) by stripping Islamic capital market legal research is also carried out based on the hadith of Rasulullah SAW which regulates the basis for implementing capital markets. With the stipulation of sharia law guided by the DSN-MUI fatwa No. 40/DSN- MUI/X/2003 in which the DSN-MUI fatwa contains a discussion on regulating the Capital Market
 with the backing of applying Islamic religious principles correctly to the laws that have been
 described.

Pelaksanaan Resheduling pada Pembiayaan Modal Kerja Bermasalah dengan Akad Murabahah

Rescheduling implementation is to find out how much income Islamic financial institutions earn through rescheduling (Rescheduling) for customers who fail to fulfill their obligations. By resecheduling, Islamic financial institutions can minimize losses that occur as a result of channeling the funds provided. The mechanism for implementing rescheduling for troubled working capital financing uses a murabahah contract at BPRS X, in accordance with Islamic economics and the DSN MUI Fatwa. The rescheduling mechanism at BPRS ARTHA MADANIis carried out by providing an extension of the financing period, the remaining principal to the customer is used as new financing in accordance with the installment value of the customer's ability to pay, the rescheduling process at BPRS ARTHA MADANIis carried out by changing the financing period, payment schedule and installment amount, but does not change the remaining balance payment at the beginning of the contract. The rescheduling implementation at BPRS ARTHA MADANIwent well, the rescheduling proved to be more effective in resolving problematic financing, the rescheduling implementation at BPRS ARTHA MADANIwas also in accordance with the basic principles of Islamic economics, letter Al-Baqarah article 280 and DSN legal letters Article 280. 48/DSN-MUI/II/2005 regarding the rearrangement of the murabaha law.

Pelaksanaan Akad Pembiayaan Mudharabah Pada BMT Dana Akhirat Arjasari Kabupaten Bandung

Mudharabah financing is a revenue sharing system and operational unit of Shari'ah Financial Institution. But the problem that arises is the application of mudharabah financing that is different and not in accordance with the perspective of DSN MUI Fatwa Number: 07/DSN-MUI/IV/2000. This study uses case study method with descriptive data analysis using qualitative approach where data is obtained through informants and documents with data collection techniques through interviews, observations, and library studies. The results of this study show that there are three different provisions with the perspective of the FATWA DSN MUI Number: 07/DSN-MUI/IV/2000 differences in the provisions of mudharabah financing in the KBMT of Dana Akhirat consists of: First in the financing provisions, the distribution of mudharabah financing that should be used for business but there are still many members who do not use the financing for business, so it is not productive. In the financing provisions, KBMT of Dana Akhirat cannot bear the full losses because the provisions at KBMT Dana Akhirat are not to bear losses on the distribution of funds but have been determined at the beginning of the agreement at the time of the agreement.

Pelaksanaan Akad Wadiah Pada Koperasi Pojok Syariah

Wadiah is a type of savings that is purely a depositor/customer, which must be maintained and returned at any time in accordance with mutual agreement or in accordance with the depositor/customer wishes. This wadiah contract savings is adjusted to the Presfective of DSN MUI Fatwa No.02 / DSN-MUI / IV / 2000 concerning wadiah savings. Therefore, this study aims to determine the application of the wadiah contract, the conformity of the DSN MUI Fatwa Presfective No.02 / DSN-MUI / IV / 2000, and find out the efforts made by the Sharia Pojok Cooperative to comply with the Fatwa Prefectives of the National Sharia Council of the Indonesian Ulema Council. The research method used is to use a qualitative descriptive approach. Data collection obtained through observations to the Sharia Pojok Cooperative an also interviews with informants and literature studies to be able to describe the implementation of the wadiah contract. The results of this study are known that the implementation of the wadiah agreement in the Sharia Pojok Cooperative has one discrepancy with the Prefectives of the Fatwa of the National Sharia Council of the Indonesian Ulema Council No.02 / DSN-MUI / IV / 2000 concerning Savings, namely the Sharia Pojok Cooperative hinting at the bonus at the beginning of the contract of 4%.

Analisis Kepatuhan Akad Baku Peer to Peer Lending Syariah terhadap Fatwa DSN MUI Nomor 117 DSN-MUI/II/2018 (Studi Kasus pada PT. Qazwa Mitra Hasanah)

The purpose of this study is to understand the synchronization of the standard contracts contained in Qazwa.id with Islamic law and to find out how the legal protection for financiers is in the standard contracts made by Qazwa. This research uses the literature study method with DSN-MUI fatwa data sources, laws, POJK and articles that are relevant to this research. The results of this study are that overall Qazwa's standard contracts and the general terms and conditions that apply to Qazwa are in accordance with DSN MUI Fatwa Number 117 of 2018 concerning Information Technology-Based Financing Services Based on sharia principles. Legal protection for consumers in the early stages or before the contract takes place, consumers will receive education about platform, information and product transparency services. Qazwa also provides online customer service that responds swiftly to questions and complaints from potential lenders. Therefore, the form of legal protection for consumers in the early stages before the contract has been implemented and implemented optimally by the organizers.

ANALYSIS OF THE LEGIBILITY OF MURABAḤAH WAKALAH FINANCING PRACTICES AT PT. ACEH SHARIA BANK KCP DIPONEGORO

Murabaḥah financing is one of the most popular products in Islamic banking. Murabaḥah is defined as the activity of selling an item by confirming the purchase price to the buyer, the buyer pays a higher price than the previous price to make a profit. It can be seen that the essence of murabaḥah is that the bank provides non-money goods, where the bank should buy the goods needed by the customer and then sell them back to the customer at the selling price plus a profit. However, in practice the bank cannot do its own work, that is, it cannot provide the goods required by the customer; rather, the bank only provides funds for the purchase of the goods required through a wakalah contract with the customer in question. This study aims to find answers to the main issues, namely: how is the Fiqh Muamalah review of the practice of murabaḥah wakalah at PT. Bank Aceh Syariah KCP Diponegoro, what is the legitimacy of the practice of murabaḥah wakalah financing according to the DSN MUI fatwa and what is the mechanism for murabaḥah wakalah financing at PT. Bank Aceh Syariah KCP Diponegoro. The type that the author uses in this study is a descriptive analysis method. The data collection method in this study was data obtained from field research through interviews with the parties involved and taking references from a literature review. The results of this study show that there are still sharia principles, the pillars of murabaḥah which are not in accordance with fiqh muamalah and DSN MUI fatwa rules, where in the application of murabaḥah bil wakalah contracts at Bank Aceh Syariah KCP Diponegoro more often use murabaḥah and wakalah contracts in one contract. whereas in theory, the implementation of the wakalah contract must be carried out before the murabaḥah contract is carried out.

Bonds in Islamic Economic Review

Bonds that are reviewed from fiqh principles are allowed as stated in the DSN MUI fatwa Number: 32/DSN-MUI/IX/2002 concerning Syari'ah Bonds, Number: 41/DSN-MUI/III/2004 concerning Syari'ah Ijarah Bonds and Number: 59 /DSN-MUI/V/2007 concerning Convertible Syari'ah Mudharabah Bonds. Bonds can be issued based on sharia principles by referring to the fatwa. This study aims to describe bonds in a review of fiqh rules and describe the differences between Islamic bonds and bonds. with qualitative research methods. This study found that the basic difference between Islamic bonds and conventional bonds is the application of interest that has been determined at the beginning of the transaction. In Islamic bonds, profit sharing is not determined at the beginning of the transaction, but what is determined is the percentage (nisbah) of future profits.

Analisis Implementasi Prinsip Syariah pada Latansa Homestay Kalipuro Kabupaten Banyuwangi berdasarkan Fatwa Dsn-MUI

The basis for sharia tourist destination regulations is regulated in the DSN MUI Fatwa No: 108/DSN-MUI/X/2016 concerning guidelines for organizing tourism based on sharia principles. The concept of sharia tourism is the process of incorporating sharia values into the prospects of tourism activities. Sharia tourism must review the basic values of Muslims in its services starting from restaurants, lodging, to tourism activities that refer to sharia where halal and haram are used as the main benchmark. Then how is the implementation of the DSN-MUI fatwa on Latansa Homestay which is the object of study in this study. This type of research is field research using a descriptive qualitative approach. Data collection techniques using observation, semi-structured interviews, and documentaries. Qualitative descriptive analysis of Miles, Huberman and Saldana's interactive model. The results of this study indicate: 1) guests are required to submit ID cards, including for guests who bring partners, must be proven by ID cards with the same address, and for couples who are married in unregistered marriage, they are required to show wedding photos. 2) the food and drinks provided at Latansa Homestay are halal because the place is clean, not unclean, does not contain pork, alcohol, the manager cooks for himself and around the Homestay there are no buying and selling transactions of illegal food and drinks.

SAFARI SAVINGS AT KOSPIN JASA SHARIA BATANG

Kospin Jasa Syariah is one of the Service Cooperative institutions that has many products, one of which is the Safari Savings product. Safari Savings is a term savings with profit sharing in the form of free tours. The contract used in this Safari Savings is a mudharabah contract, where Kospin Jasa Syariah is the mudharib and the customer is the shaahibul maal. However, in practice at the Batang Syariah Services Kospin, it turns out that it is not in accordance with the DSN-MUI Fatwa Number 86/DSN-MUI/XII/2012 concerning Prizes in Funding for Islamic Financial Institutions because in the safari savings there is a prize in the form of money. The purpose of this study was to determine the practice of Safari Savings at Kospin Jasa Syariah Batang and to find out the perspective of Sharia Economic Law regarding the giving of gifts in the form of money.
 This type of research is a field research (field research) with a qualitative approach. The data sources consist of primary data obtained by observation and interview techniques to the management of Kospin Jasa Syariah Batang and 5 customers selected by accidental sampling technique. Secondary data in the form of literature books, research journals, theses, research results, and documents relevant to the research obtained with documentation techniques. Data were analyzed by descriptive analysis technique.
 Based on the results of the study, it can be concluded that in terms of the practice of drawing prizes in the form of money in Safari Savings it is not in accordance with the Fatwa of DSN MUI, there are several points that are not in accordance with the Fatwa of DSN MUI No. 086/DSN-MUI/XII/2012 concerning Prizes in Funding for Islamic Financial Institutions.
 Keywords: Safari Savings, MUI DSN Fatwa, Prize Draw