PENYELESAIAN UTANG IMPOR, JU’ALAH DAN SERTIFIKAT BANK INDONESIA SYARIAH (SBIS) PERSPEKTIF FATWA DSN-MUI

Sharia financial Institution is one of the economic supporters of Indonesia. It is evidenced by the number of Islamic financial institutions that have sprung up this year, both sharia bank and non-bank sharia financial institution. It accommodates the aspiration and need of the society. The public is given the widest opportunity to establish a bank based on sharia principles, including convert from commercial banks whose business activities are based on conventional patterns into sharia patterns. The more sharia financial institutions that emerge, the more products offered by Islamic financial institutions to customers with the level of risk that can be overcome. The writing aims to answer the formulation of problem of settlement of import debts, contract of ju’a>lah and Sharia Certificate of Bank Indonesia (SBIS) in perspective of DSN-MUI fatwa. The result of research shows that in the DSN-MUI fatwa, it is explained that the settlement of imported debt or we know as letter of credit (L/C) may use the kafa>lah contract by taking a fee. It is also explained that one of the forms of kafa>lah contract is kafa>lah bi al-ma>l which is the application of kafa>lah contract which guarantees the payment of goods or debt repayment. This guarantee may be provided by the sharia bank to its customers in return for a fee. For the settlement of import debt there are several contracts that can be used, namely the contract of h}iwa>lah bi al-ujrah, waka>lah bi al-ujrah, and kafa>lah bi al-ujrah The Sharia Certificate of Bank Indonesia which used to be wadi>’ah with Wadi>’ah Certificate of Bank Indonesia which is now changed with Sharia Certificate of Bank Indonesia uses ju’a>lah contract. In this contract, Bank Indonesia pays the repayment upon maturity of SBIS with the relevant sharia banking record having performed and achieving the objectives expected by Bank Indonesia. If the sharia banking concerned is not able to achieve the desired objectives or stipulated by Bank Indonesia in terms of monetary control based on sharia principles, the relevant sharia banking will not receive any compensation from Bank Indonesia. Keywords: Import Debt Settlement, Ju’a>lah, Sharia Certificate, Bank Indonesia, DSN-MUI Fatwa

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PELAKSANAAN EKSEKUSI JAMINAN FIDUSIA DALAM PERJANJIAN PEMBIAYAAN DI KSPS LOGAM MULIA KECAMATAN KLAMBU KABUPATEN GROBOGAN

YUDISIA : Jurnal Pemikiran Hukum dan Hukum Islam ◽

10.21043/yudisia.v8i1.3222 ◽

2018 ◽

Vol 8 (1) ◽

pp. 121

Author(s):

Junaidi Abdullah

Keyword(s):

Financial Institutions ◽

Moving Objects ◽

Financial Institution ◽

The Public ◽

Community Or ◽

The People ◽

Islamic Financial Institutions ◽

Legal Force

Any loan or financing agreement made by a sharia financial institution, whether bank or non-bank, more particularly KSPS Logam Mulia, usually requires a guarantee. Guaranteed goods guaranteed by the community or its members may be movable objects such as motorcycles or cars (guaranteed by BPKB) and may be non-moving objects in the form of buildings or land (guaranteed usually land certificates) .To to legalize the guarantee goods, the guarantee goods. For moving objects in the form of fiduciary and immovable property through mortgages. With the existence of objects collateralized by the public or members of the Islamic financial institutions, both banks and non-banks with fiduciary guarantee will provide the legal force for the institution to execute objects that have been guaranteed if the people who borrow violate the promise or wanprestasi.But in fact, KSPS Logam Mulia has never executed forcibly to the community or its members who have neglected or are unable to perform its obligations ie paying installments on loans or financing it has received. From the results of the research can be known execution fiduciary guarantee in KSPS Logam Mulia Klambu District Grobogan District does not execute fiduciary guarantee directly against members who do not perform the obligation mengangsurnya. What factors are the background of not directly executing tehadap assurance of fiduciary objects in KSPS Logam Mulia Klambu District Grobogan Regency is: The reason shariah and Reason kinship.

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PENGUATAN MANAJEMEN SYARIAH MELALUI TOTAL QUALITY MANAGEMENTBAGI PELAKU LEMBAGA KEUANGAN SYARIAH DI KOTA SEMARANG

At-Taqaddum ◽

10.21580/at.v8i2.1170 ◽

2017 ◽

Vol 8 (2) ◽

pp. 180

Author(s):

Johan Arifin

Keyword(s):

Continuous Improvement ◽

Financial Institutions ◽

Financial Management ◽

Financial Institution ◽

Model Management ◽

Total Quality ◽

The Public ◽

Governance Model ◽

Islamic Financial Institutions

One of the problems that arise in the Islamic financial management is the governance model (management) used are the same as a conventional financial institution management in general, Therefore we need innovation in management. Management Implementation of Sharia in the Islamic financial institutions are expected to improve the performance and quality of these institutions. Implementation of sharia management really comes down to the issue of Total Quality Management (TQM) on financial institutions syar'iah focused on the process of continuous improvement to uphold the values of Shariah.Management of sharia is considered important in the company since its implementation in the areas of services and operating in personal competence, maintaining the availability of knowledge and innovation as well as product development. Through sharia management is expected to increase the skills and motivation to work on giliranyya will improve the reinforcement of the operational side. The perpetrator of Islamic financial institutions in terms of technical skills are adequate but the problem is the knowledge of the management of sharia. Knowledge management in Islamic financial institutions will be judged by the public that the management is not different from the conventional financial institutions.

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Pengungkapan Pendapatan Non Halal pada Laporan Keuangan Bank Umum Syariah

AKTSAR Jurnal Akuntansi Syariah ◽

10.21043/aktsar.v4i1.9690 ◽

2021 ◽

Vol 4 (1) ◽

pp. 67

Author(s):

Ria Anisatus Sholihah

Keyword(s):

Financial Institutions ◽

Commercial Banks ◽

Research Method ◽

Financial Institution ◽

Financial Statements ◽

Islamic Banks ◽

Financial Reports ◽

The Public ◽

Descriptive Approach ◽

Operational Activities

Islamic Bank as a type of Islamic financial institution has the authority to collect and distribute funds to the public. In carrying out its operational activities, Islamic Banks have transactions that can lead to non-halal income because Islamic Banks also make transactions with Conventional Financial Institutions. PSAK 101 has regulated the disclosure of no n-halal income as part of the Report on the Sources and Use of Virtue Fund. The purpose of this study is to determine the description and disclosure of non-halal income in the financial statements of Islamic Commercial Banks. This study uses a qualitative research method with a descriptive approach. The subjects of this study were 14 Islamic Commercial Banks operating nationally and publishing complete financial reports in 2019 on the official website of Islamic Commercial Banks. The results showed that non-halal income from 14 Islamic Commercial Banks have been disclosed in accordance with PSAK 101, namely the Report on the Sources and Use of Virtue Funds. However, not all banks disclose in detail the reasons for the occurrence and use of non-halal income in the Notes to Financial Statements.

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Analisis Fatwa DSN-MUI Nomor 25/III/2002 Terhadap Penetapan Ujrah Dalam Akad Rahn Di BMT UGT Sidogiri Cabang Waru Sidoarjo

JES (Jurnal Ekonomi Syariah) ◽

10.30736/jesa.v2i2.30 ◽

2017 ◽

Vol 2 (2) ◽

Author(s):

M. Zainuddin Alanshori

Keyword(s):

Financial Institutions ◽

Financial Institution ◽

Descriptive Analysis ◽

Field Research ◽

The Public ◽

Administrative Costs ◽

Islamic Financial Institutions ◽

The Difference ◽

Document Review

Sharia financial institutions are financial institutions that not only prioritize profit oriented, but also a financial institution that also puts the public good in accordance with the demands of sharia which is the foundation of all Islamic financial institutions. One application is to implement a moral and spiritual based service. This field research will answer the question. First, how is application of ujrah determination in contract of rahn in BMT UGT Branch Sidogiri Waru Sidoarjo? The second, how is the analysis of the DSN-MUI fatwa NUMBER 25/III /2002 on the determination of ujrah in the contract of rahn in BMT UGT Branch Sidogiri Waru Sidoarjo? Data collection techniques used are interview, document review, and observation, then analyzed by using descriptive analysis method, with deductive thought pattern, that is theory of rahn, ijarah, and fatwa of National Sharia Council (DSN) with general characteristics and then linked with the facts on the ground about the fatwa of DSN-MUI NUMBER 25/III/2002 on the establishment of ujrah in the contract of rahn in BMT UGT Branch Sidogiri Waru Sidoarjo with special characteristics. From the results of the study, the author concludes the application of the determination of ujrah in the covenant of rahn in BMT UGT Branch Sidogiri Waru Sidoarjo, namely the determination of ujrah through two contracts, namely rahn and ijarah contract. The procedures for the implementation of the contract are as follows: Rahin (customer) comes to murtahin (BMT) while delivering marhun (collateral goods) then the goods will be estimated. As a result of this, the rahin will be subject to administrative costs. Then rahin signs the agreement or contract of rahn. After that, to entrust the goods hock, rahin must implement contract of ijarah (contract to rent place). Consequently it arise ujrah. In this case, it means that customer must implement two barrage of contract. The determination of ujrah applied in BMT is not in accordance with the Fatwa DSN-MUI NO: 25/DSN-MUI/ III/2002 because the determination of ujrah is determined from the amount of the customer’s loan, while the difference is the discount given to the customer for applying smaller loan. The determination of discount is determined from ujrah or ijarah fee charged to the customer. This discount is calculated based on the percentage of estimated value of customer’s loan amount. Keywords: Ujrah Determination, Rahn Contract, DSN-MUI Fatwa

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U-8 The Concept, Need and Significance of Sharia rating in Islamic Financial institutions in the perspective of Credit Rating Agencies

Al-Aijaz Research Journal of Islamic Studies & Humanities ◽

10.53575/u8.v5.01(21).111-129 ◽

2021 ◽

Vol 5 (1) ◽

pp. 111-129

Author(s):

Muhammad Mushtaq Ahmed ◽

Javed Khan

Keyword(s):

Financial Institutions ◽

Financial Services ◽

Credit Rating ◽

Financial Institution ◽

Credit Rating Agencies ◽

Financial Industry ◽

Rating Agencies ◽

The Public ◽

Islamic Financial Institutions ◽

Regulatory Bodies

Sharia compliance is considered the basic component of Islamic financial industry as sharia permissibility is one of the basic motive for majority of the customers of Islamic Financial services. Presently the assurance regarding the sharia compliance of Islamic financial institution is given by the Sharia Advisor or Sharia board of respective Islamic financial institution. But there is no process, similar to the credit rating agencies, which provides the public an independent assessment of the commitment of different Islamic financial institution as regard to follow sharia injunctions in true letter and spirit for comparison with other Islamic financial institution. In this paper, the concept of credit rating, its origin, importance and advantages are discussed. In the light of the credit rating agencies practices, the concept of sharia rating and its importance are elaborated. It is observed and recommended that sharia quality rating will be very beneficial for all the stakeholders of the Islamic financial institutions as well the Islamic financial industry hence regulatory bodies of Islamic financial institutions, IFI’s and Credit Rating Agencies shall work together to further refine the concept for implementation of Sharia rating in the industry.

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ANALISIS FATWA DSN-MUI NOMOR 25/III/2002 TERHADAP PENETAPAN UJRAH DALAM AKAD RAHN DI BMT UGT SIDOGIRI CABANG WARU SIDOARJO

JES (Jurnal Ekonomi Syariah) ◽

10.30736/jes.v2i1.32 ◽

2017 ◽

Vol 2 (1) ◽

pp. 116-128

Author(s):

M. Zainuddin Alanshori

Keyword(s):

Financial Institutions ◽

Financial Institution ◽

Descriptive Analysis ◽

Field Research ◽

The Public ◽

Administrative Costs ◽

Islamic Financial Institutions ◽

The Difference ◽

Document Review

Sharia financial institutions are financial institutions that not only prioritize profit oriented, but also a financial institution that also puts the public good in accordance with the demands of sharia which is the foundation of all Islamic financial institutions. One application is to implement a moral and spiritual based service. This field research will answer the question. First, how is application of ujrah determination in contract of rahn in BMT UGT Branch Sidogiri Waru Sidoarjo? The second, how is the analysis of the DSN-MUI fatwa NUMBER 25/III /2002 on the determination of ujrah in the contract of rahn in BMT UGT Branch Sidogiri Waru Sidoarjo? Data collection techniques used are interview, document review, and observation, then analyzed by using descriptive analysis method, with deductive thought pattern, that is theory of rahn, ijarah, and fatwa of National Sharia Council (DSN) with general characteristics and then linked with the facts on the ground about the fatwa of DSN-MUI NUMBER 25/III/2002 on the establishment of ujrah in the contract of rahn in BMT UGT Branch Sidogiri Waru Sidoarjo with special characteristics. From the results of the study, the author concludes the application of the determination of ujrah in the covenant of rahn in BMT UGT Branch Sidogiri Waru Sidoarjo, namely the determination of ujrah through two contracts, namely rahn and ijarah contract. The procedures for the implementation of the contract are as follows: Rahin (customer) comes to murtahin (BMT) while delivering marhun (collateral goods) then the goods will be estimated. As a result of this, the rahin will be subject to administrative costs. Then rahin signs the agreement or contract of rahn. After that, to entrust the goods hock, rahin must implement contract of ijarah (contract to rent place). Consequently it arise ujrah. In this case, it means that customer must implement two barrage of contract. The determination of ujrah applied in BMT is not in accordance with the Fatwa DSN-MUI NO: 25/DSN-MUI/ III/2002 because the determination of ujrah is determined from the amount of the customer’s loan, while the difference is the discount given to the customer for applying smaller loan. The determination of discount is determined from ujrah or ijarah fee charged to the customer. This discount is calculated based on the percentage of estimated value of customer’s loan amount

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QARDHUL HASAN DALAM PERSFEKTIF HUKUM ISLAM PADA BAITUL MAAL WA TAMWIL (BMT) DAN IMPLEMENTASINYA

At Taajir : Jurnal Ekonomi, Bisnis dan Keuangan Syariah ◽

10.47902/attaajir.v1i1.27 ◽

2019 ◽

Vol 1 (1) ◽

pp. 44-58

Author(s):

Muhamad Bisri Mustofa ◽

Mifta Khatul Khoir

Keyword(s):

Financial Institutions ◽

Islamic Law ◽

Financial Institution ◽

Social Institution ◽

Small Communities ◽

Economic Law ◽

Potential Source ◽

Islamic Financial Institutions

Abstract In the implementation of Islamic Financial Institutions such as the Baitul Maal wa Tamwil (BMT) there are various ways of collecting funds and channeling funds. Funds are collected through wadi'ah deposits and deposits. While the distribution of funds is done by murabahah, mudharabah, musyarakah, rahn (pawn), ijarah, ijarah multijasa and qardhul hasan financing. Qardhul Hasan's financing is the orientation of the function of the Islamic Financial Institution (Baitul Maal Wa Tamwil) as a social institution. Qardhul hasan is a soft loan given on the basis of mere social obligations. In this case the borrower is not required to return anything except the amount borrowed. In Qardhul Hasan financing there are pillars and conditions, namely the perpetrator of the contract consisting of muqtaridh (borrower), muqridh (lender), qardh (fund), shighat ijab and qabul willingness for both parties and funds used for something useful and lawful. Qardhul Hasan is an activity to achieve a predetermined goal or target by the relevant Islamic financial institutions. The mechanism for implementing Qardhul Hasan is solely aimed at providing assistance to meet the needs of small communities. Thus it can be seen that the form of borrowing through Qardhul Hasan is in accordance with the principles of sharia economic law, the potential source of Qardhul Hasan's funding is quite large if it is utilized and managed optimally and its implementation is very useful for the community. Keywords: Qardhul Hasan, Islamic Law, BMT

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Towards New Sharia Governance for Islamic Financial Institutions

Justicia Islamica ◽

10.21154/justicia.v18i1.2341 ◽

2021 ◽

Vol 18 (1) ◽

pp. 39-58

Author(s):

Abdulazeem Abozaid

Keyword(s):

Financial Institutions ◽

Financial Services ◽

Financial Institution ◽

Islamic Banking ◽

Banking And Finance ◽

Finance Industry ◽

Regulatory Authorities ◽

Governance Model ◽

Islamic Financial Institutions ◽

Shariah Governance

Since its inception a few decades ago, the industry of Islamic banking and finance has been regulating itself in terms of Sharia governance. Although some regulatory authorities from within the industry, such as Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and Islamic Financial Services Board (IFSB), the Islamic banking and finance industry remains to a great extent self-regulated. This is because none of the resolutions or the regulatory authorities' standards are binding on the Islamic financial institution except when the institution itself willingly chooses to bind itself by them. Few countries have enforced some Sharia-governance-related regulations on their Islamic banks. However, in most cases, these regulations do not go beyond the requirement to formulate some Sharia controlling bodies, which are practically left to the same operating banks. Furthermore, some of the few existing regulatory authorities' standards and resolutions are conflicted with other resolutions issued by Fiqh academies. The paper addresses those issues by highlighting the shortcomings and then proposing the necessary reforms to help reach effective Shariah governance that would protect the industry from within and help it achieve its goals. The paper concludes by proposing a Shariah governance model that should overcome the challenges addressed in the study.Pada awal berdiri, Lembaga Keuangan Syariah merupakan lembaga keuangan yang menerapkan Hukum Syariah secara mandiri dalam sistem operasionalnya. Ia tidak tunduk pada peraturan lembaga keuangan konvensional, sehingga dapat terus berkomiten dalam menerapkan Hukum Syariah secara benar. Selanjutnya, muncullah beberapa otoritas peraturan yang berasal dari pengembangan Lembaga Keuangan Syariah. Diantaranya adalah Islamic Financial Services Board (IFSB) dan Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI). Hal ini tidak menyimpang dari kerangka peraturan Hukum Syariah, sebab standar peraturan dan keputusan yang dikeluarkan ditujukan khusus untuk Lembaga Keuangan Syariah saja. Beberapa Negara telah menerapkan peraturan tata kelola Hukum Syariah pada Bank Syariah mereka. Namun dalam banyak kasus, peraturan yang diterapkan tidak mampu mengontrol Lembaga Keuangan Syariah tersebut secara penuh. Sehingga, secara praktis proses pengawasan diserahkan kepada lembaga keuangan yang beroperasi. Akan tetapi, beberapa standar dan keputusan yang dikeluarkan oleh sebagian pemangku kebijakan bertentangan dengan keputusan yang dikeluarkan oleh beberapa akademi Fiqh. Artikel ini ditulis untuk menyoroti permasalahan yang timbul pada tata kelola Lembaga Keuangan Syariah, khususnya kekurangan yang tampak pada sistem tata kelola. Kemudian, penulis akan mengajukan usulan tentang efektifitas tata kelola Lembaga Keuangan Syariah yang bebas dari permasalahan.

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ISSUES AND CHALLENGES OF SHARIAH AUDITING IN ISLAMIC FINANCIAL INSTITUTION AND CORPORATE GOVERNANCE COMPLIANCE

Media Riset Akuntansi Auditing & Informasi ◽

10.25105/mraai.v18i2.3008 ◽

2018 ◽

Vol 18 (2) ◽

pp. 169 ◽

Cited By ~ 1

Author(s):

Agus Arwani

Keyword(s):

Corporate Governance ◽

Financial Institutions ◽

Financial Institution ◽

Practical Implication ◽

Supervisory Board ◽

Governance Structure ◽

Financial Statement ◽

External Auditors ◽

Islamic Financial Institutions

The study examines the perspective of practitioners who are involved directly and/or indirectly with the process of shariah compliance/auditing from Islamic financial institutions (IFIs) on the issues of standards for shariah auditing, auditors qualifications, and independence. Auditing Islamic financial institutions (IFIs) covers a wider scope than legal financial statement auditing. External auditors of IFIs not only conduct financial audits but also conduct tests on the shariah compliance of IFIs, according to fatawa (religious opinions) and guidelines set by the Shariah Supervisory Board (SSB). Shariah review is unique to IFIs, due to the requirement to ensure that all business activities and operations of IFIs adhere to shariah precepts. The scarce resourceful auditors with both shariah and accounting/auditing qualifications and the issue of self-review threat to independence may affect the reputable image of Islamic financial institutions. This article is literature method. The findings reinforce the importance of auditors' qualification and independence as currently there is no mandatory regulated professional shariah auditor code to be in tandem with the drastic growth of the IFIs. The paper offers practical implication to regulators in providing a direction to revise the existing standards for shariah auditing practices and to formulate a mandatory professional governance structure for shariah auditors.

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