Evaluating Murābahah Contract Practices in BPRS Financing Agreement No. 8854/MBA/11/2010 and Associated Challenges in Islamic Banking

Al Mashaadir : Jurnal Ilmu Syariah doi.org/10.52029/jis.v5i1.200 Evaluating Murābahah Contract Practices in BPRS Financing Agreement No. 8854/MBA/11/2010 and Associated Challenges in Islamic Banking Adi Wijaya1*, Latifah Adi Fajriyati2 12Universitas Islam Negeri Sunan Kalijaga, Indonesia *Corresponddence Email: ABSTRACT This research aims to analyze the application of the murābahah contract in BPRS financing agreement number 8854/MBA/11/2010 related to the payment period and problems that may arise in BPRS financing practices in Islamic banking. The research method uses a literature study that uses an empirical normative approach, which focuses on the application of normative law to certain legal situations that occur in society. the results showed that the application of the murābahah contract in the BPRS financing agreement Number 8854 / MBA / 11/2010 in the context of the payment period. In the application of the murābahah financing contract, the profit is not more than one-third or one-fifth and the repayment period is not more than three years because if it is more, it will cause ribā because the calculation uses a profit calculation instead of profit sharing as based on the calculation. second Problems that can occur in murābahah financing. In the practice of murābahah financing, there are various problems that can occur, including non-transparent margins, risks of ownership and storage, problems with the quality of goods, risk of bad financing, uncertainty of market prices, high involvement of third parties and the difficulty of renegotiating and if viewed from various aspects such as sharia aspects, legal aspects, and operational aspects, it is very likely that there will be a failure in the contract. Keywords: Murabhah Contract, Financing, Islamic Banking. ABSTRAK Penelitian ini bertujuan untuk menganalisis penerapan akad murābahah dalam perjanjian pembiayaan BPRS nomor 8854/MBA/11/2010 terkait jangka waktu pembayaran dan permasalahan yang mungkin timbul dalam praktik pembiayaan BPRS di perbankan syariah. Metode penelitian menggunakan studi kepustakaan yang menggunakan pendekatan normatif empiris, yang menitikberatkan pada penerapan hukum normatif terhadap situasi hukum tertentu yang terjadi di masyarakat. Hasil penelitian menunjukkan bahwa penerapan akad murābahah dalam akad pembiayaan BPRS Nomor 8854/MBA/11/2010 dalam konteks jangka waktu pembayaran. Dalam penerapan akad pembiayaan murābahah, keuntungannya tidak lebih dari sepertiga atau seperlima dan jangka waktu pengembaliannya tidak lebih dari tiga tahun karena jika lebih maka akan menimbulkan riba karena perhitungannya menggunakan perhitungan keuntungan. bagi hasil berdasarkan perhitungan. kedua Permasalahan yang dapat terjadi dalam pembiayaan murābahah. Dalam praktik pembiayaan murābahah terdapat berbagai permasalahan yang dapat terjadi antara lain margin yang tidak transparan, risiko kepemilikan dan penyimpanan, permasalahan kualitas barang, risiko pembiayaan buruk, ketidakpastian harga pasar, tingginya keterlibatan pihak ketiga dan sulitnya Al Mashaadir : Jurnal Ilmu Syariah, Vol. 05 No. 01, June 20024 48 Al Mashaadir : Jurnal Ilmu Syariah doi.org/10.52029/jis.v5i1.200 melakukan renegosiasi dan jika dilihat dari berbagai aspek seperti aspek syariah, aspek hukum, dan aspek operasional, besar kemungkinan akan terjadi kegagalan dalam akad. Kata Kunci: Akad Murabhah, Pembiayaan, Perbankan Islam. INTRODUCTION The advantage of the Islamic banking system lies in the basis of the system which is based on the sharing of profits and losses and risk sharing. (Trimulato 2021). Essentially, banks are intermediary institutions between savers and investors. With the addition of the word "Islam", the concept of "interest-free banking" emerged as an idea involving banking instruments or operations that avoid the use of interest. (F. Kamal, 2015). Law of the Republic of Indonesia Number 21 of 2008 concerning Sharia Banking states thatSharia Banks are financial institutions that carry out their business activities in accordance with sharia principles. Examples of Islamic banks include (BPRS). In Law No. 10 of 1998 concerning Banking, Article 1 Paragraph (4) explains that Sharia People's Credit Bank is a bank financial institution that can operate both in general and based on sharia principles. (Aulia, 2019). Sharia financing is present as a solution for individuals who cannot meet their own needs. One form is through murābahahfinancing where a transaction of buying and selling goods occurs by adding the profit that has been agreed between the bank as the seller and the customer as the buyer at the original price (J. Kamal, 2022). Currently, murābahah is used as one type of financing product offered by Islamic financial institutions in accordance with the DSN-MUI Fatwa No. 04/DSN-MUI/IV/2000 concerning Murābahah. The use of the murabahah contract scheme tends to be high, reaching an average of 70%, as seen from the many Islamic banks around the world that adopt it. Some examples include Bahrain Islamic Bank, Bank Islam Malaysia, Faysal Islamic Bank, Kuwait Finance House, and various other Islamic banks.(Muchtar, 2021). In the murabahah financing scheme, there are three parties involved, namely the customer as the buyer, the bank as the seller, and the supplier as the provider of goods. This transaction can be done by direct payment or through installment payments. In the context of murabahah, the bank as the seller has an obligation to inform customers about the profits or surplus obtained from the purchase and sale transactions. As a buyer, the customer must have an understanding of the amount of profit that will be obtained by the bank from the goods. However, one of the potential problems in murabahah contracts is related to the implementation of payment periods. Profits for Sharia Banks depend on payments made by customers. The longer the payment period, the larger the margin obtained by the bank, and conversely, the shorter the payment period, the less margin will be obtained. The previous research that has a correlation with this research was conducted by (Afrida, 2016) with the theme of Islamic banking financing analysis, the research method used is qualitative research with a library research approach, while the results of his research are To ensure that the implementation of murabaha financing is in accordance with sharia concepts, strict supervision is needed from the Sharia Supervisory Board or the National Sharia Council, so that murabaha financing as prima donna financing in Islamic banking can be guarded and does not tarnish the image and authority of Islamic banking so that there is no longer the impression that Islamic banks are the same as conventional banks. The similarity between this research and the Al Mashaadir : Jurnal Ilmu Syariah, Vol. 05 No. 01, June 20024 49 Al Mashaadir : Jurnal Ilmu Syariah doi.org/10.52029/jis.v5i1.200 previous one is that the previous research both analyze (...truncated)