MURABAHA IN ISLAMIC JURISPRUDENCE AND INDONESIAN ISLAMIC BANKS A CASE STUDY OF BPRS IN YOGYAKARTA

Mohammad Salim Salim, NIM.: 19300016087 (2022) MURABAHA IN ISLAMIC JURISPRUDENCE AND INDONESIAN ISLAMIC BANKS A CASE STUDY OF BPRS IN YOGYAKARTA. Doctoral thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

The most important difference between Islamic banks and conventional banks is that Islamic banks consider the rules of Islam in their activities. Murabaha is used more than other Islamic banks' products in Indonesia, especially by rural Islamic banks. At the same time, some literature criticizes banking activities in this regard. The literature argues that Islamic banks are not considering the rules of Islam when providing Murabaha products. If Islamic banks do not follow Islam's rules in implementing Murabaha, this will create a big problem and even cause the bank to fail and become bankrupt. Theoretically, there are two kinds of Murabaha: simple Murabaha and compound Murabaha. In simple Murabaha, the customer buys a commodity at the same price the seller bought it with additional profit for the seller. In compound Murabaha, the customer orders a specific item, and the seller (Islamic bank) buys it, then sells it to the ordering person at the same price the bank buys with some profit. The aims of this study are, first, to find out whether Indonesian Islamic banks in the Murabaha contracts apply the rules of Islamic shariah. It also wants to find out how Islamic banks consider the theory of Murabaha. Another issue the researcher will know is what Islamic school (Madhab) is applied in Murabaha contracts. The last thing this research is looking for is the determinant that caused Murabaha to be used more than other products by Islamic banks in Indonesia. Mainly two kinds of data are used for the research. One is collected through historical-comparative research and the other through field research. First of all, the issue was seen in the classic jurisprudence books. These books were studied in five groups: general Islamic jurisprudence and four Sunni Madhabs. After that, the fatwas of the DSN of Indonesia were seen. The newly published academic books and articles are never ignored. Open questions started the field research for interviews. The interviews were conducted in two ways: with individuals and groups of related people. The results of both historical-comparative research and field research were compared. Finally, the results provided answers to the research questions. Indonesia is the biggest Muslim-majority country. The Islamic banking system started later than some other countries but has grown and developed better. The Murabaha product is provided more than other products by these banks. That is why the researcher chose Indonesia to do his research about Murabaha. It is impossible to research in all parts of Indonesia. Therefore Yogyakarta was selected as the area of this study. Islamic commercial banks are so big and have offices in so many places. It needs to travel to at least some of them, but due to some problems the researcher could not manage, the Islamic rural banks of Yogyakarta were chosen as a case study. There are two types of Murabaha one is simple Murabaha, and the other is compound Murabaha. Simple Murabaha is when someone buys an item through Murabaha without any preceding. Compound Murabaha is when someone orders the bank to buy an item and promises to buy it from the bank through Murabaha. The second type is also divided into two types: the first is direct Murabaha, and the other is Murabaha through wakalah. In Indonesian Madhhab, the promise is binding religiously, morally, and judiciary (it is not binding judiciary according to most Islamic schools and scholars). All the BPRSs are applying special Indonesian Madhab in Murabaha contracts. The determinants which caused Murabaha to provide more than other products could be studied from two points of view: in terms of application and its impact on society.

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