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primary topic: TINJAUAN FIKIH MUA'MALAH TERHADAP SBSN (SURAT BERHARGA SYARIAH NEGARA) FIXED RATE PERSPEKTIF FATWA DSN-MUI TENTANG OBLIGASI SYARIAH

TINJAUAN FIKIH MUA'MALAH TERHADAP SBSN (SURAT BERHARGA SYARIAH NEGARA) FIXED RATE PERSPEKTIF FATWA DSN-MUI TENTANG OBLIGASI SYARIAH
type: Thesis
type: Article
abstract: As public awareness of financial freedom grows in Indonesia, State Sharia Securities (Surat Berharga Syariah Negara or SBSN), commonly known as Sukuk with a Fixed Rate scheme, have become a highly soughtafter investment instrument. However, the implementation of a fixed-rate return on sharia instruments has sparked academic and practical debates from the perspective of Fikih Mua>malah. Fundamentally, sharia economics emphasizes the principle of risk and return sharing, whereas fixed-rate schemes structurally resemble coupons in conventional bonds, providing guaranteed income regardless of the Underlying Asset's performance This study aims to analyze the suitability of the substance of Fixed Rate SBSN in Indonesia with the principles of Fiqh Mua>malah and examine the Fatwa DSN-MUI No. 69/DSN-MUI/VI/2008 which is the basis of its legality and Fatwa DSN-MUI No. 32/DSN-MUI/IX/2002 which is the umbrella of sharia instruments. The research method used is a qualitative approach with descriptive-analytical analysis of the legal istinbat method used by DSN-MUI, especially regarding the distinction between the rental price (ujrah) in the Ij>arah contract which is allowed to be fixed with the profit sharing concept (nisbah) which must be variable. Fixed Rate State Sharia Securities (SBSN) have substantively complied with the provisions of Islamic jurisprudence (fiqh) and the DSNMUI Fatwa on Sharia Bonds. The use of Ij>arah (lease), mud}a>rabah, or musya>rakah contracts in this instrument is proven valid because it is based on a real and economically valuable Underlying Asset. Therefore, the fixed rate received by investors is not riba (usury), but rather ujrah (rent) or a legally predictable profit sharing. From the DSN-MUI perspective, Fixed Rate SBSN has complied with sharia principles because it is free from gharar, maysir, and riba elements, and has a transparent investment fund management mechanism for financing the state budget. From a juridicaleconomic perspective, this…
date: 2026-06-08
status: published
author list: authors
type: EPrint
type: ThesisEPrint
is part of: repository
has document: TINJAUAN FIKIH MUA'MALAH TERHADAP SBSN (SURAT BERHARGA SYARIAH NEGARA) FIXED RATE PERSPEKTIF FATWA DSN-MUI TENTANG OBLIGASI SYARIAH (Text)
has version: TINJAUAN FIKIH MUA'MALAH TERHADAP SBSN (SURAT BERHARGA SYARIAH NEGARA) FIXED RATE PERSPEKTIF FATWA DSN-MUI TENTANG OBLIGASI SYARIAH (Text)
has published: TINJAUAN FIKIH MUA'MALAH TERHADAP SBSN (SURAT BERHARGA SYARIAH NEGARA) FIXED RATE PERSPEKTIF FATWA DSN-MUI TENTANG OBLIGASI SYARIAH (Text)
subject: 297.488 Fatwa Ulama

TINJAUAN FIKIH MUA'MALAH TERHADAP SBSN (SURAT BERHARGA SYARIAH NEGARA) FIXED RATE PERSPEKTIF FATWA DSN-MUI TENTANG OBLIGASI SYARIAH (Text)
type: Document
has file: 22103080022_BAB-I_IV-atau-V_DAFTAR-PUSTAKA.pdf
has part: 22103080022_BAB-I_IV-atau-V_DAFTAR-PUSTAKA.pdf

TINJAUAN FIKIH MUA'MALAH TERHADAP SBSN (SURAT BERHARGA SYARIAH NEGARA) FIXED RATE PERSPEKTIF FATWA DSN-MUI TENTANG OBLIGASI SYARIAH (Text)
type: Document

UIN SUNAN KALIJAGA YOGYAKARTA
type: Organization

FAKULTAS SYARIAH DAN HUKUM, UIN SUNAN KALIJAGA YOGYAKARTA
type: Organization

NIM.: 22103080022 Alfian Reza Syahrani
type: Person
given name: NIM.: 22103080022
family name: Alfian Reza Syahrani

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primary topic: TINJAUAN FIKIH MUA'MALAH TERHADAP SBSN (SURAT BERHARGA SYARIAH NEGARA) FIXED RATE PERSPEKTIF FATWA DSN-MUI TENTANG OBLIGASI SYARIAH

297.488 Fatwa Ulama
type: Concept