DSN MUI Research Articles

IMPLEMENTASI AKAD MUSYARAKAH MUTANAQISHAH DI LEMBAGA KEUANGAN ISLAM

Some consumptive financing at Bank Muamalat and BMT are intended for customers such as mortgage products (home ownership) and vehicles, several types of contracts are executed, namely Musyarakah Mutanaqishah (MMQ). However, financing in the Musyarakah Mutanaqishah (MMQ) contract pattern still faces common problems. This study focuses on knowing the implementation of the Musyarakah Mutanaqishah (MMQ) contract on housing and vehicle financing. The research method used is a descriptive qualitative method with a literature review approach with data collection techniques namely literature study. The results showed that the implementation of the MMQ contract on housing and vehicle financing at Bank Muamalat and BMT was in line with DSN MUI Fatwa No. 73/DSN-MUI/XI/2008 concerning Musyarakah Mutanaqishah (MMQ), due to the existence of terms and conditions that there is a capital contribution of both parties between Islamic financial institutions and customers. The customer asks the financial institution to issue a partnership capital for the purchase of a house/vehicle, then the financial institution also includes partial/complementary capital so that it is referred to as an association/musyarakah then the customer pays the rent, and shares the proceeds with the bank.

Crypto Currency In The Perspective Of The Fatwa DSN MUI In 2021

Current technological developments include digitalization in various fields, including the field of financial investment. Cryptocurrency or digital currency is the result of the development of financial technology.. This researchaims to explore cryptocurrency analysis in the perspective of the 2021 MUI DSN fatwa and the Islamic financial system.The methodology used is a literature study approach to national and international journal articles, as well as books and other literature related to cryptocurrencies. The main findings produced in this study, the current global financial system mostly adheres to an interest-based economic system. There are at least 3 factors behind the birth of Islamic finance, namely: ideological religiosity, pragmatic empiricism, and idealistic academics. The importance of crypto currency as a legal tender according to the perspective of Indonesian law and the Islamic financial system, both at the level of theoretical and practical philosophy.From the results of this study, it is hoped that it will answer the advantages of theoretical philosophy-practice Islamic financial system at the theoretical and practical levels. However, stakeholders in the field of Islamic finance should not be passive, but proactive in the existence of the cryptocurrency

Minat Masyarakat Terhadap Pasar Modal Syariah

The role of an investor in the world of capital markets is needed. This is an effort to control economic stability that occurs due to financial crises throughout the country's economy. In the capital market economy plays an active role as one of the supporting indicators of the economy. Where the capital market has two functions, namely first as a means of business funding, secondly the capital market becomes a means for the public to invest in the capital market. The Capital Market is also an effort to support policies made by the government. Over time, now we know the term Islamic capital market which is a form of cooperative effort between PT. Indonesia Stock Exchange and MUI DSN. The Islamic capital market aims to be an investment choice for customers who want to invest their wealth in the field of sharia, both Muslim and non-Muslim investors. This is not a young thing for potential investors who will go directly to the world of Islamic capital markets. It requires sufficient expertise and knowledge about investment. As a form of business in investor development, it is necessary to educate the public about the capital market, this is the reason for the author to answer the problem using an empirical approach in which data is directly obtained from sources and then processed using qualitative research.

Islamic Law Analysis of Guidelines for Implementing Contracts in Nuri Savings and Loans and Sharia Financing Cooperatives (KSPPS) East Java

The aim of Sharia Cooperatives is to improve the welfare of members in particular and society in general and to contribute to building a just economic order in accordance with Islamic principles. Strengthening this principle, of course, must start from the contract as sharia legitimacy from the practices carried out by the Cooperative including the Nuri East Java Savings and Loans and Sharia Financing Cooperative (KSPPS). The formulation of the problems posed are 1) How is the Contract Implementation in the KSPPS Nuri East Java Contract Manual; 2) What is the analysis of Islamic law on the implementation of the contract? This research is in the nature of a text study of contract implementation manuals at KSPPS Nuri, East Java, so the method used is a literature survey, namely searching for and studying written materials related to the object of study. The findings of this study are that the contracts practiced at KSPPS Nuri East Java in general do have a strong foundation in Islamic law and are in accordance with the DSN MUI fatwa. Because the foundation of the MUI's DSN fatwa besides ummahatul mashadir such as the Al-Qur'an, hadith, ijma' and qiyas are also the views of the scholars in fiqh books.

Comparative Study of Islamic Legal Systems in the Application of the Istishna' Agreement in Indonesia and Malaysia

The provisions in the Qur'an and al-Hadith bind Islamic Contract Law. From the Islamic perspective, contracts are better known by the word Akad. The most significant factor in the increase in profit power in Islamic contract law is obtained from financing agreements. Indonesia and Malaysia, as Muslim-majority countries, provide different arrangements regarding istishna's financing agreement'. Therefore, this legal research aims to compare Islamic legal systems in applying the istishna' agreement in Indonesia and Malaysia based on the DSN MUI Fatwa and the SAC BNM Fatwa. The research method is a doctrinal legal research method with a comparative approach. The results showed that in the application of the istishna' contract in Indonesia and Malaysia, there was no significant difference. The development of istishna' agreements between the two countries from year to year has fluctuated. The number of istishna' financing agreements in Indonesia is higher than in Malaysia.

Musyarakah mutanaqishah Contract Concept: Review of Product Refinancing and Take Over

Musyarakah mutanaqishah is a modified contract from a musyarakah contract that is implemented in Islamic financial institutions as one of their financing products. As for one of the products that accompany it, namely refinancing and transfer of debt (take over). This paper aims to review the musyarakah mutanaqishah concept and its concept in Islamic financial institutions and examine briefly related to refinancing and take over products, these two products are products that cannot be separated from the musyarakah mutanaqishah contract whose implementation in Islamic financial institutions is currently widely used. The approach used in this paper is a normative juridical approach, then the type of research used is qualitative and the method chosen is descriptive analysis research method while the data is collected by literature study. Musyarakah mutanaqishah implemented in Islamic Financial Institutions is in accordance with sharia principles, this is supported by the existing DSN MUI fatwa and refinancing and take over products are also one of the conveniences in applying a musyarakah mutanaqishah contract.

The Quality and Satisfaction of Halal Products and Services in Sharia-Certified Hospitals: Patient Perspective

The development of a halal lifestyle is an indicator of the public need for halal products and services, including health services. Hospitals that provide sharia health services have differences from non-Islamic hospitals because they have a sharia concept and maqashid principles. Al-Islam Hospital Bandung has become a sharia hospital and is certified by DSN MUI, so its services must adjust sharia operational standards while still paying attention to patient satisfaction. This study aims to analyze the correlation between service quality and satisfaction of Halal Products and services in Sharia-Certified Hospitals. A cross-sectional study of 100 post-inpatient persons in Al-Islam Hospital, Bandung, Indonesia. The study used a closed questionnaire, spearman correlation test and Chi-Square bivariate-univariate analysis. The results showed that the quality of sharia health services at Al-Islam Hospital Bandung has a "good" category (56.2%), and 83% stated “very satisfied”. There was a significant relationship between service quality and patient satisfaction (Sig. 0.028). The quality of sharia-certified hospital services can increase the level of patient satisfaction.

FIQH MUAMALAH IN SHARIA CAPITAL MARKET IN INDONESIA

The Islamic capital market is a reality and a current phenomenon amid Muslim life, as a means of muamalah whose transactions do not contain usury, speculation, garar (obscurity), and fraud. This study aims to map the main themes discussed in the Islamic capital market, using qualitative methods with content analysis sourced from articles in the Google Scholar database. The data was obtained using the Publish or Perish (PoP) application for a period of 18 years (2004-2022) with the keywords Islamic capital market, accessed on May 21, 2022, 202 articles (population) were obtained, and 40 articles were taken as samples, while the data collection analysis of 35 articles. The results of the study found that the most widely disclosed themes were 1) Islamic capital market products 25.35%; 2) Current issues 25.35%; 3) History and development; 21.3% 4) Fiqh Muamalah; 18.31% 5) Fatwa of DSN MUI 9.85%. The author of the article states that the capital market is in line with Islamic law in the field of muamalah. In its operation, speculators will inevitably act contrary to Islamic law, which can destroy capital market institutions and economic stability. In realizing the goals of sharia, grounding the capital market is done by cleaning up speculative practices. The current Islamic capital market has become a vital means of the modern economy that products must be developed and invites investors with integrity to Islamic law.

IMPLEMENTATION OF DSN-MUI FATWA ON SHARIA INSURANCE PRODUCTS AT PT. ASURANSI TAKAFUL PALEMBANG BRANCH

Insurance problems do not only stop at transactions, but also at investments. Most of the insurance purchased by the public is actually insurance that contains maysir, gharar, and usury. This means that the money received from the investment received by the customer is also not maintained as halal. It is different from investing in Sharia insurance because there is a Sharia Supervisory Board which ensures that all insurance mechanisms and investment allocations do not conflict with Sharia law. Sharia Insurance Companies are entrusted by the participants to manage premiums, develop in a lawful way, provide compensation to those who experience disasters according to the contents of the agreed agreement deed, based on the characteristics of takafuli, tabarru and mudharabah.This study aims to analyze how the implementation of the DSN-MUI fatwa regarding general guidelines for sharia insurance at PT Asuransu Takaful.This study uses a Qualitative Approach that is related to phenomena that refer to the actions of economic actors, namely humans who act around economic phenomena as well as in consumption, production and distribution with all kinds of transaction derivatives and their interactions. The research results show thattabarru funds that has been collected is managed by the company on the basis of wakalah through insurance invested in various sharia investment instruments so that the funds are more productive. The results of the tabarru' investment are actually purely the rights of the participants, while the insurance company can obtain profit sharing from the investment through a tijarah contract. Companies can also benefit from wakalah bil ujrah contracts. This is in accordance with the DSN MUI fatwa No.DSN-MUI No.21/DSN-MUI/X of 2001 concerning General Guidelines for Sharia Insurance

Analysis of the Application of the Maslahah Concept in DSN MUI Fatwa in the Sector of Sharia Economics and Finance


 The purpose of this study is to analyze the Application of the Maslahah Concept in DSN MUI Fatwa in the Sector of Sharia Economics and Finance. The concept of maslahah, or public interest, is a fundamental principle in Islamic jurisprudence that is also applied in the fatwas issued by the Indonesian Council of Ulama's (MUI) Shariah Supervisory Board (DSN). The application of the maslahah concept in DSN MUI's fatwas is crucial to ensure that the decisions made are in the best interest of the Muslim community and promote the well-being of society. Research method is Library research refers to the process of searching for and analyzing information in a library setting. This can involve searching for books, articles, and other sources of information related to a specific topic or research question. Result of the research maslahah concept is applied in DSN MUI's fatwas is by considering the broader societal impacts of a particular issue or problem. For instance, in the context of Islamic finance and banking, DSN MUI has issued fatwas that aim to promote financial stability, economic growth, and social justice. This is achieved by ensuring that Islamic financial institutions adhere to Shariah principles and avoid practices that are harmful to society or the environment. Moreover, the maslahah concept is also used to address new issues and challenges that arise in modern society. For example, DSN MUI has issued fatwas on digital currencies and e-commerce that take into account the unique characteristics of these new technologies and how they can be used to promote the well-being of society while adhering to Islamic principles..
 Keywords: DSN MUI; Mashlahah; Sharia Economic; Finance; Fatwa.

DSN - MUI Fatwa Number 26 of 2013 and Purchase Decision of The Muslimah Generation Y and Z Against Halal Cosmetic Products

This study aims to determine the implementation of the DSN MUI fatwa Number 26 of 2013 and how it affects the purchase decision of Generation Muslimah Y and Z in choosing and buying cosmetic products—using qualitative methods with triangulation techniques, namely using various data collection methods consisting of observations, interviews, questionnaires, and documentation studies. The results show that the critical point of halal in cosmetics consists of the composition of the ingredients used and the resistance of cosmetics to water. Among the Muslim generations Y and Z, some already know, and some do not know the halal standards of cosmetics. However, according to Generations Y and Z, cosmetic halal standards in DSN – MUI Fatwa Number 26 of 2013 can affect their purchase decision on halal cosmetic products. Compared to prices, trends and brands, halal certification is still the main reason for purchasing halal cosmetics by the Muslimah Generation Y and Z. In conclusion, DSN Fatwa – MUI Number 26 of 2013 applies effectively to The Muslimah Generation Y and Z as a consideration in choosing and buying halal cosmetics

Skema Dana Non Halal Dalam Penetapan Denda Pembiayaan Bermasalah Pada Bank Muamalat

The purpose of this research is to describe the concept of determining fines for non-performing financing at Bank Muamalat. Besides analyzing the implementation of the theory of fines for non-halal financing in non-halal funding schemes. There is a paradox among the public regarding the observance of Islamic banking in driving financial transactions in accordance with Islamic principles. It caused a low level of public knowledge of understanding the concept of Islamic banking. This debate arises when banking transactions are not completely in accordance with sharia principles (there are still elements of Riba, Gharar, and Maysir). Therefore customers' doubts arise in Islamic banking. This study uses a descriptive qualitative research method. The result of this study is the establishment of a fine policy at Bank Muamalat. It is intended for all customers who are not responsible for their financing installment obligations. The nominal fine adjusts the amount of financing proposed by the customer. The practice of setting fines is included in the category of non-halal funds but these funds are channeled back to the people in need through Baitul Maal Muamalat (BMM). This is in accordance with sharia, seen from the theory of non-halal funds in line with the MUI DSN rules and the hadith which states that the addition of debt is usury.

Implementasi Akad Wakalah Bil Ujrah pada Pembayaran Rekening Listrik

This individual payment actually makes it easier for people to make electricity bill payment transactions without going out of the house, especially for people who do not travel for certain reasons. The author's background in this study is the public unrest where the author examines the payment of electricity bills through individuals with different ujrah. The formulation of the problem that then arises is how to implement electricity bill payments through individuals in Dukuh Panggilan when reviewed with DSN MUI Fatwa No. 113/DSN-MUI/IX/2017 concerning Wakalah Bill Ujrah. The purpose of the study is to identify the payment of electricity bills in terms of the Fatwa of DSN MUI No. 113/DSN-MUI/IX/2017 concerning Wakalah Bill Ujrah. The research method used is a qualitative method that takes the type of field research, data collection techniques are carried out using observations and interviews. Observations were made as non-participant observers. The results of this study are individuals as representatives in paying electricity bills in Dukuh Panggilan have an important role because of the convenience of residents in paying, especially for society. The existence of ujrah/fees that are not the same from person to person or month to month, also there is no transparency of the amount of ujrah which creates uncertainty, resulting in incompatibility with DSN MUI Fatwa No. 113/DSN-MUI/IX/2017 concerning Wakalah Bill Ujrah. So it is necessary to agree on the amount of ujrah by both parties in order to reach an agreement, so that the contract can be carried out properly.

STUDI KOMPARATIF TERHADAP PRINSIP-PRINSIP ASURANSI SYARIAH MENURUT HUKUM ISLAM DAN UNDANG-UNDANG NO. 40 TAHUN 2014 TENTANG PERASURANSIAN

This research is entitled a comparative study of the principles of sharia insurance according to Islamic law and Law No. 40 of 2014 concerning insurance. In its operations, in addition to complying with the legal terms of the agreement, insurance must also comply with the principles of insurance law. The purpose of these principles is to provide a framework within which all parties to a transaction will receive fair and proper treatment. This study aims to discuss the principles of insurance law in Islam and the principles of insurance in Law No. 40 of 2014 concerning insurance by conducting a comparative study which is expected to find similarities and differences. The research method used by the author is using descriptive analysis and comparative research, the data collection technique used is library research. The results of this study there are six principles of sharia insurance in Islamic law, namely; the Principle of Insurable Interest, the Principle of Utmost Good Faith, the Principle of Indemnity, the Principle of Subrogation, the Principle of Proximate Cause, and the Principle of Contribution. While the principles of sharia insurance contained in Law No. 40 of 2014 is the application of sharia principles in accordance with the DSN MUI fatwa, then regarding legal relations in insurance agreements that take provisions from KHES, and legal consequences in insurance which in case of disputes are resolved through mediation.

Analisis Kepatuhan Syariah (Shariah Compliance) Terhadap Produk Tabungan Marhamah dengan Akad Mudharabah pada Bank Sumut Kantor Cabang Syariah Medan

Savings Marhamah is one of the popular savings among customers of the Islamic bank of North Sumatra, by using a profit sharing contract or mudharabah, a problem arises that the author wants to know, What is the form of implementation of compliance with sharia principles in the savings product of Marhamah Bank of North Sumatra Sharia Branch Office Medan?, The author wants to compare whether the mudharabah mechanism applied to this Marhamah savings product is with the sharia principles that exist in the MUI DSN or does this Marhamah savings product have sharia compliance? The data collection technique is qualitative with descriptive method. This qualitative descriptive research provides a systematic, accurate, and accurate description of the implementation of shariah compliance as seen from the products of Bank Sumut, Medan Sharia Branch Office.

LEGAL ANALYSIS OF CRYPTO INVESTMENT IN ERA 4.0 VIEW FROM CREDO THEORY

Today in the era of disruption 4.0, an interesting thing in Indonesia is related to the presence of Crypto Investments such as Bitcoin (digital currency), where which is one of the economic indicators that can affect the global economy. Now business transactions are using online media (digitalization). Therefore, the Indonesian people need legal certainty in utilizing transactions for this crypto investment activity. This study aims to legally analyze crypto investments used for buying and selling transactions in Indonesia from the perspective of Islamic law and creed theory. This study uses the Library Research Method, where the data is obtained by means of a literature study through laws, government regulations, Fatwa DSN MUI, and the theory of creed / testimony / Shahadah. As a result, by referring to the creed theory that Crypto Investments such as Bitcoin have laws that are permitted when used as a medium of exchange. This law only applies to parties who acknowledge and are willing to use it. Meanwhile, Bitcoin as an investment is illegal. However, Crypto as a transaction tool in online trade is a renewable innovation in economic development in Indonesia today. So there is a need for special regulations to use Crypto.

Sharia Compliance of Murabahah Contract at KJKS BMT Padang City

Sharia compliance is an analysis to see the level of sharia compliance of a sharia financial institution. This study aims to determine to what extent sharia compliance is fulfilled in the implementation of the Murabahah contract at the Kelurahan BMT in Padang City based on the fatwa of DSN MUI on Murabahah. By conducting purposive sampling, BMT Batung Taba, BMT Pasar Ambacang and BMT Kubu Dalam Parak Karakah have been chosen as research object. This research is a field research with a qualitative approach. The results showed that sharia compliance on the implementation of the murabahah contract at BMT Padang City has not been fulfilled. Errors in implementing the murabahah contract procedure occur due to several causes including the lack of understanding and education of SSB about sharia compliance practices. In addition, it is also caused by the lack of knowledge and professionalism of BMT managers in the area.

The phenomenon of Thrifting in State Law and Islamic Economic Perspective: A Business of Second Branded Fashion Trends for Young People

The trend of thrifting phenomenon is increased due to the pandemic as an alternative to make it business. The objective of this research is to explain the phenomenon of thrifting in State Law and Islamic Economic perspective toward a thrift business for young people. This research uses library research. The result shows that based on State Law, Minister of Trade Regulation Article 2 states that used clothes are prohibited from being imported into the territory of the Republic of Indonesia, and Article 3 states that used clothes that arrive in the territory of the Republic of Indonesia on or after the date of this Ministerial Regulation valid, it must be destroyed based on the provisions of the regulations legislation. The import policy as regulated in the Regulation Minister of Trade Number 51/M-DAG/PER/7/2015 about fencing national interest, protecting and encouraging the use of production domestically, and creating trade and domestic markets that healthy and conducive business climate. Besides, the Minister of Commerce has regulated that goods imported must be in a new condition as stated in Regulation Number 54/M-DAG/PER/10/2009 in Article 6 paragraph (1) that imported goods are in new condition and Article 6 paragraph (2) that in certain cases, the Minister may determine which goods imported in a non-new condition based on the Regulations legislation, the Authority of the Minister, and/or Proposals or technical considerations from other government agencies. While, based on the Islamic Economics perspective as listed on Fatwa of DSN MUI NO: 110/DSN-MUI/IX/2017 concerning buying and selling, the system must not contain elements of gharar (objects of goods that are not clear and can cause losses), khiyar 'aib (defects in the object of goods). In carrying out the sale and purchase contract related to the guidelines of Islamic rule both in Qur'an and Hadits. Some principles of buying and selling in Islamic Economics follow the mandate from Allah SWT to humans' benefit. Muslim as seller and buyer must control himself from things related to gharar (uncertainty elements), haram, and syubhat (the element of doubt).

ANALYSIS OF SHARIA CONFORMITY ASPECTS IN STOCK INVESTMENT BASED ON SECURITIES CROWDFUNDING

Securities crowdfunding is the activity of collecting funds from individuals or groups to fund an activity or business that uses information technology that will get reciprocity from the funds that have been given. One of the securities crowdfunding is that it can issue sharia securities and or securities that are equity in nature. This study aims to explain the mechanism and analysis of Islamic economic law regarding stock investment based on Securities Crowdfunding. The research method uses a normative juridical approach regarding norms or rules sourced from the DSN MUI Fatwa Number 140/DSN-MUI/VIII/2021 with the type of variant descriptive research method. The results of this study show that the stock investment mechanism brings organizers, issuers, and financiers in crowdfunding services to finance a project or an equity (share) business. In sharia economic law, stock investment based on securities crowdfunding is following all mechanisms, provisions, and implementation regarding stock investment in crowdfunding services or securities crowdfunding-based services in terms of the contracts used and prohibitions that should not be carried out in sharia principles and by the views of classical and contemporary jurisprudence scholars

Sewa Guna Dengan Hak Opsi Dalam Prespektif Hukum Islam

Background. Operationally, finansial lease transaction focuses more on the financing aspect of the Lessor given to the lesse, where the lesse will bear all aspects of maintenance and responsibility for the goods he rents.Aim. This study aims to examine financial leases in the perspective of Islamic law.Methods. This type of research is a qualitative research with a descriptive approach that uses the literature study method as the completion methodology. With the object of research, the Leasing case is seen from the point of view of Islamic law, and how Islam answers these problems.Results. From the point of view of Islamic law, finance leasing transactions tend to be similar to the concept of ijarah or ijarah vomitiyah bi al-tamlik which is used as the basis for making the DSN MUI fatwa on shari'ah leasing. This fatwa provides an overview of the legal basis, rights and obligations of the Lessor, Lessee and other parties involved in this contract. Applicatively, as long as it does not harm either party, the financial leasing law is basically allowed.