Proceedings of the International Conference on Sustainable Innovation on Humanities, Education, and Social Sciences (ICOSI-HESS 2022)

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The Consistency of Sharia Principles Application in Murabaha Contracts During the Covid-19 Pandemic

Authors
Muhammad Khaeruddin Hamsin1, *, Abdul Halim2, Rizaldy Anggriawan1
1Universitas Muhammadiyah Yogyakarta, Special Region of Yogyakarta, Indonesia
2Universitas Islam Negeri Sunan Kalijaga, Special Region of Yogyakarta, Indonesia
*Corresponding author. Email: khaeruddin@umy.ac.id
Corresponding Author
Muhammad Khaeruddin Hamsin
Available Online 24 December 2022.
DOI
10.2991/978-2-494069-65-7_11How to use a DOI?
Keywords
Sharia Principles; Murabaha; Covid-19; Fatwa; Financial Institution
Abstract

The aim of this article is to investigate and thoroughly assess the consistency of Islamic financial institutions in adopting Sharia principles. It compares the standard operating procedures and company regulation which adopted by the Sharia Rural Bank (BPRS) with the fatwa issued by the National Sharia Council of Indonesian Ulema Council (DSN-MUI). It also explores particularly on the procedure and mechanism of Murabaha financing products application by the customer. The paper used a normative-empirical research method with employing statutory and conceptual approach. The análisis of data is described in qualitative-descriptive approach with comprehensive and systematic manner. The study reveals that the practice of Murabaha contracts at BPRS are carried out in conformity with the DSN-MUI Fatwa on Murabaha. Nevertheless, some aspects are considered to be in contravention of the DSN-MUI fatwa on Murabaha, particularly on the application of the Murabaha contract, which is accompanied by a wakalah contract.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the International Conference on Sustainable Innovation on Humanities, Education, and Social Sciences (ICOSI-HESS 2022)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
24 December 2022
ISBN
978-2-494069-65-7
ISSN
2352-5398
DOI
10.2991/978-2-494069-65-7_11How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Muhammad Khaeruddin Hamsin
AU  - Abdul Halim
AU  - Rizaldy Anggriawan
PY  - 2022
DA  - 2022/12/24
TI  - The Consistency of Sharia Principles Application in Murabaha Contracts During the Covid-19 Pandemic
BT  - Proceedings of the International Conference on Sustainable Innovation on Humanities, Education, and Social Sciences (ICOSI-HESS 2022)
PB  - Atlantis Press
SP  - 104
EP  - 119
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-494069-65-7_11
DO  - 10.2991/978-2-494069-65-7_11
ID  - Hamsin2022
ER  -