To see the other types of publications on this topic, follow the link: Banking law (Islamic law).
Journal articles on the topic 'Banking law (Islamic law)'
Create a spot-on reference in APA, MLA, Chicago, Harvard, and other styles
Consult the top 50 journal articles for your research on the topic 'Banking law (Islamic law).'
Next to every source in the list of references, there is an 'Add to bibliography' button. Press on it, and we will generate automatically the bibliographic reference to the chosen work in the citation style you need: APA, MLA, Harvard, Chicago, Vancouver, etc.
You can also download the full text of the academic publication as pdf and read online its abstract whenever available in the metadata.
Browse journal articles on a wide variety of disciplines and organise your bibliography correctly.
1
Habib and Shirazi. "Islamic Banking Law." Arab Law Quarterly 6, no. 2 (1991): 226. http://dx.doi.org/10.2307/3381839.
Full text
2
Muhyidin, Muhyidin. "Islamic Banking Law Perspective in the Concept of National Law." Gema Keadilan 7, no. 2 (September 16, 2020): 69–83. http://dx.doi.org/10.14710/gk.2020.8947.
Full textAbstract:
AbstractThe focus of this article is the perspective of Islamic Banking Law in the concept of national law, both from the institutional aspect, the aspect of business activities. As well as aspects of liquidity management and financial instruments used, both at the level of laws and implementing regulations; and influencing socio-political, cultural and economic factors. Islamic banking law is a new entity in which there is interaction and mutual greeting between Islamic law and national law. In other words, Islamic banking law lies in two areas of law: Islamic law and national law. Sharia banking law, as the name implies, is Islamic law because it is formed on the principles of Islamic law. At the same time, Islamic banking law is also part of national law because it is formed by the competent state institution with the infrastructure and mechanisms that are formally justified. The discussion focuses on the dynamics of the encounter between Islamic law and national law as the elements of its formation. Such efforts can not ignore the factors - factors that influence it, whether political, cultural or economic.
3
Maggs, Peter B. "Islamic Banking in Kazakhstan Law." Review of Central and East European Law 36, no. 1 (2011): 1–32. http://dx.doi.org/10.1163/092598811x12960354394641.
Full textAbstract:
AbstractKazakhstan has adopted legislation designed to facilitate Islamic banking, and at least one Islamic bank has started operations in Kazakhstan. Islamic banking is based upon traditional Islamic law, which forbids the taking of interest, the making of profit without risk, and profiting from "sinful" businesses such as pornography. The legislation in Kazakhstan forbids such activities for Islamic banks and also requires each Islamic bank to have an independent "Council on the principles of Islamic finance" to rule on bank policies and specific transactions. Islamic banking practices use complex combinations of transactions, each permitted by Islamic law, to mimic common conventional banking transactions, such as loans bearing fixed interest rates and repayable on a fixed date. Stable income and manageable principal obligations from credit-worthy borrowers can ensure that a bank will receive high ratings from leading international credit rating agencies and, thus, can satisfy the requirements of Kazakhstan's bank regulators. The formal difference between Islamic banking transactions and the conventional transactions that they mimic could lead to differing treatment for taxation. To provide a level playing field, Kazakhstan has amended its Tax Code to provide for equal treatment of economically equivalent Islamic and conventional banking transactions. Adjustments have also been made to bankruptcy legislation, reflecting the unavailability of deposit insurance for Islamic banks and the special nature of investment deposits in Islamic banks. There are controversies among Islamic law scholars as to whether or not various practices used to mimic conventional banking transactions are unlawful because they violate the spirit of Islamic law. This creates what is called "Sharia risk", the risk that a transaction will be found unlawful after it has been concluded, with consequences highly unfavorable for a party.
4
Pervez, Imtiaz A. "Islamic Banking." Arab Law Quarterly 5, no. 4 (1990): 259–81. http://dx.doi.org/10.1163/157302590x00198.
Full text
5
Mujib, Abdul. "DINAMIKA HUKUM DAN PERKEMBANGAN PERBANKAN ISLAM DI INDONESIA." Al-Ahkam 23, no. 2 (October 21, 2013): 167. http://dx.doi.org/10.21580/ahkam.2013.23.2.21.
Full textAbstract:
Almost all countries in the world including Indonesia give serious attention to the existence of Islamic banking that using religion approach in all activities and services. Institutional development it should be followed by the availability of legal basis, which is an established and clear. During the six years of its inception, the Islamic banking law stands with a very limited law basis, although the limitations of regulations have been describing aspects of sharia in Islamic banking for sure. The improvement of law is done by replacing Law No. 7 of 1992 by the Law No. 10 of 1998. This law has explicitly mention sharia aspects of Islamic banking, however Islamic banking regulation still governed together with conventional banking. The birth of Law 21 of 2008 became an important change for the development of Islamic banking. This law has given limits and a clear boundary line between Islamic banking and conventional banking in various aspects. The development of Islamic banking regulation are gaining its momentum with the enactment of Law No. 21 of 2008 concerning Islamic Banking. The strategic value of this law is increasingly opening up opportunities and legal certainty to accelerate the development of Islamic banks in the future
6
Wilson, Rodney. "Islamic Banking in Jordan. Islamic Banking: The Jordanian Experience." Arab Law Quarterly 2, no. 3 (August 1987): 207. http://dx.doi.org/10.2307/3381694.
Full text
7
Nopriansyah, Waldi, Makhrus Munajat, and Abdul Mujib. "Maintaining the Plurality and Sacred Value of Islamic Law through the Existence of the Sharia Banking Law." Al-Ahkam 32, no. 1 (April 28, 2022): 65–86. http://dx.doi.org/10.21580/ahkam.2022.32.1.8825.
Full textAbstract:
Islamic banks are the fastest growing Islamic financial institutions in Indonesia. In fact, Islamic Banks already have special regulations, namely Law Number 21 of 2008. This article aimed to analyze how important the Sharia Banking Law is in maintaining the plurality and sacredness of Islamic law in every sharia banking operational activity. The method used in this article is qualitative with a normative approach. This article found that Sharia Banking Law supports the sacredness of Islamic law, namely to realize the benefit. The existence of the Sharia Banking Law indirectly shows its capacity as a legal product that provides a plurality space so that the law can be enjoyed by all humans and all religions based on community beliefs. In addition, the existence of the Sharia Banking Law can also be a reference for other Islamic law products to provide a plurality value space behind the sacredness of Islamic law in Indonesia.
8
KAMALI, MOHAMMED. "Arab Islamic Banking and the Renewal of Islamic Law." Journal of King Abdulaziz University-Islamic Economics 11, no. 1 (1999): 69–75. http://dx.doi.org/10.4197/islec.11-1.4.
Full text
9
Wilson, Rodney. "Islamic Banking in Jordan." Arab Law Quarterly 2, no. 3 (1987): 207–29. http://dx.doi.org/10.1163/157302587x00282.
Full text
10
Baehaqi, Ja’far. "Transformasi hukum Islam dalam hukum perbankan syariah di Indonesia." IJTIHAD Jurnal Wacana Hukum Islam dan Kemanusiaan 14, no. 2 (February 3, 2015): 211. http://dx.doi.org/10.18326/ijtihad.v14i2.211-230.
Full textAbstract:
Islamic law and Islamic banking law are two different entities, although both are substantially identical. This paper seeks to answer the question related to the transformation of Islamic law in Islamic banking law in the context of positivization of law. The study focused on the dialectic of Islamic law and national law in the formulation of Islamic banking law. With a history of regulatory approach, this study found that transformed the Islamic banking law is aspects of shariah compliance, is not Islamic law referred to in fikih muamalah. Sharia compliance is dynamic both in terms of substance, structure and culture. Hukum Islam dan hukum perbankan syariah merupakan dua entitas yang berbeda, meskipun secara substansial keduanya identik. Makalah ini berupaya menjawab persoalan terkait transformasi hukum Islam dalam hukum perbankan syariah dalam konteks positivisasi hukum. Kajian difokuskan pada dialektika hukum Islam dan hukum nasional dalam formulasi hukum perbankan syariah. Dengan pendekatan sejarah perundang-undangan, kajian ini menemukan bahwa yang ditransformasikan dalam hukum perbankan syariah adalah aspek kepatuhan syariah, bukan hukum Islam sebagaimana dimaksud dalam fikih muamalah. Kepatuhan syariah ini bersifat dinamis baik dari sisi substansi, struktur maupun kultur.
11
Labetubun, Muchtar A. H. "Kompetensi Pengadilan Agama Terhadap Penyelesaian Sengketa Perbankan Syariah Berdasarkan Hukum Islam." SASI 18, no. 1 (March 1, 2012): 56. http://dx.doi.org/10.47268/sasi.v18i1.337.
Full textAbstract:
That moment Religion Court as Section 49 letter (i) Law Number 3 Year 2003 about Religion Court, having absolute authority judge economic case of Moslem law banking included Moslem law Banking, of course this matter give paradigm differ in solving of Moslem law banking dispute compared to before existence of the law (Act No.7/1989). So that the solving of Moslem law banking dispute follow rule Islamic Law among others Jurisdiction (Wilayat Al-Qadla), peace/deliberation (Sulh/Ishlah), and Arbitrase (Tahkim), according to agreement in akad by the parties. This matter because of Moslem law Banking represent economic institution which in its execution use Islamic law principles.
12
Muneeza, Aishath. "Application of law of evidence to Islamic banking with special reference to Malaysia." International Journal of Islamic and Middle Eastern Finance and Management 10, no. 4 (November 13, 2017): 503–18. http://dx.doi.org/10.1108/imefm-02-2016-0025.
Full textAbstract:
Purpose This research aims to deal with the law of evidence invoked in Islamic banking cases reported in Malaysia from 1983 to 2015 and determine whether the invoked provisions of the statute in the case law have any conflicts with Islamic law that are threatening the development of Islamic banking in Malaysia. Design/methodology/approach The methodology used in this research is assessing the implication by studying the provisions of the law of evidence that has been invoked in the reported case law. Findings It is evident from this research that following are the evident conflicts found in the Evidence Act 1950. In this arena, the following changes are significant for sustaining Islamic banking in Malaysia. Expert opinion under Section 45 of the Evidence Act 1950 should be amended such that in Islamic banking, under this Act, expert opinion can be sought by the court. The rule and exceptions of parol evidence in Sections 91 and 92 of the Evidence Act 1950 need to be amended such that in Islamic banking matters, anything that is contrary to Sharicah is mentioned in the contract; this amendment will be an exception to the parol evidence rule on the grounds that the written Islamic contract can be amended or set aside depending on the circumstances of the case. Originality/value It is anticipated that this research will assist jurisdictions to understand that even adjective laws applicable to Islamic banking will be harmonized with Islamic law. This is because the prefix Islam attached to the term banking is not merely a namesake, but it means more than that, i.e. all aspects of Islamic banking will be consistent with Islamic law.
13
Gimigliano, Gabriela. "Globalization and the Growth of Islamic Banking: The Authorization Process in Italy." European Business Law Review 32, Issue 4 (August 1, 2021): 649–80. http://dx.doi.org/10.54648/eulr2021023.
Full textAbstract:
This paper endeavours to ascertain how Islamic banking may operate within the Italian legal system, given that neither the Rome I regulation, and the incorporation approach cannot be applied. There are three main research questions: i) which is the mainstream Western approach to Islamic banking?; ii) if Sharia rules are considered as a system of social rules and Islamic banking is compared to ethical banking or socially responsible banking, to which extent the Italian banking law is applicable to?; iii) can we suggest building up Sharia rules as a system of normative prescriptions? Globalization, Islamic banking, Sharia, Italian banking law, money, potential capital, usus, legal system, general clauses, lex mercatoria
14
Shandy Utama, Andrew. "Arah Kebijakan Pengawasan terhadap Perbankan Syariah dalam Sistem Perbankan Nasional di Indonesia." Volksgeist: Jurnal Ilmu Hukum dan Konstitusi 3, no. 1 (June 22, 2020): 41–52. http://dx.doi.org/10.24090/volksgeist.v3i1.3498.
Full textAbstract:
This research aims to explain the direction of policy regarding supervision of Islamic banking in the banking system in Indonesia. The method used in this research is normative legal research using the statutory approach. The results of this research explain that the policy regarding supervision of Islamic banking in the national banking system in Indonesia is headed toward an independent direction. In Law Number 7 of 1992 and Law Number 10 of 1998, it is stated that supervision of Islamic banking is done by Bank Indonesia as the central bank. Based on Law Number 21 of 2008, supervision of Islamic banking is strengthened by not only being supervised by Bank Indonesia, but also by the National Sharia Council of the Majelis Ulama Indonesia by placing Sharia Supervisory Councils in each Islamic bank. After the ratification of Law Number 21 of 2011, supervision of Islamic banking moved from Bank Indonesia to an independent institution called the Financial Services Authority.
15
Choiriyah, Choiriyah. "Hukum Perbankan dan Perasuransian Indonesia Dalam Perspektif Hukum Islam." SALAM: Jurnal Sosial dan Budaya Syar-i 6, no. 3 (June 13, 2019): 265–80. http://dx.doi.org/10.15408/sjsbs.v6i3.11532.
Full textAbstract:
AbstractThe issue of regulation regarding Banking in Indonesia is everything related to legislation. Therefore, it can be concluded that Sharia Banking Law is anything related to legislation governing Islamic banking activities. Islamic Banking Law at the same time experienced very intensive and creative interactions with the Islamic religion. In the general sense of Islamic banking, Islamic banking or Islamic banking is carried out by applying Islamic law (sharia) into the banking sector or even other modern commercial activities. This study approached the literature study by reviewing the literature related to the problem.Keyword: Banking Law, Indonesian Insurance, Islamic LawAbstrakMasalah pengaturan tentang Perbankan di Indonesia merupakan segala sesuatu yang terkait dengan peraturan perundang-undangan. Karenanya, dapat disimpulkan bahwa Hukum Perbankan Syariah adalah segala sesuatu yang terkait dengan peraturan perundang-undangan yang mengatur kegiatan perbankan syariah. Hukum Perbankan Syariah pada saat yang bersamaan mengalami interaksi yang sangat intensif dan kreatif dengan agama Islam. Di dalam pengertian umum dari perbankan syariah melakukan kegiatan perbankan syariah atau Bank Islam dengan menerapkan hukum Islam (syariah) ke dalam sektor perbankan atau bahkan kegiatan komersial modern lainnya. Penelitian ini melakukan pendekatan studi pustaka dengan melakukan review terhadap literatur terkait permasalahan.Keyword: Hukum Perbankan, Perasuransian Indonesia, Hukum Islam
16
Mansyur, Supardan, Usman Usman, and Lalu Sabardi. "Islamic Financing Instrument Under Indonesia Positive Law." Unram Law Review 2, no. 2 (October 20, 2018): 187–203. http://dx.doi.org/10.29303/ulrev.v2i2.51.
Full textAbstract:
Islam governs all aspects of human life. It is not regulate the human relation to Allah only but also between human each other, among other economy like financing comply with shari’ah. The issues are: (1) how is the regulation of financing comply with shari’ah regulated ini positive law in Indonesia; and (2) handicap faced in its application in Indonesia. The purposes of this research are to know: (1) its regulation on positive law, and (2) its handicap in its application Indonesia. Its results are: (1) Islamic financing in Indonesia is regulated in various rules and regulation and their implementation strengthening its existing in positive law in Indonesia as Act No.7/1992 on Banking (amended by Act No. 10/1998), Act No. 23/ 1998 on Indonesia Bank (amended by Act No. 3/2004), and Act No. 21/ 2008 on Islamic banking, particular to Shari’ah Capital Market its regulation is regulated by OJK Decision and DSN-MUI Fatwas; (2) murabahah based financing) dominating all financing of Indonesian banking industry is considered as the cause of Islamic Banking avoided to use Mudharabah and Musharakah is their higher risk. Related to these difficulties is recommended to be: (1) expected to Government and DPR to enact the statute on Islamic on Islamic Capital Market putting the Islamic Capital Market equal to the Conventional Capital Markets (2) The role of Government and the other institutions to cope handicap faced as highlight the capacity enhancement of Islamic financing institutions, regulations, and development of infrastructures supporting the Islamic financing application, are absolutely needed.
17
Anwar, Muhammad. "Islamicity of Banking and Modes of Islamic Banking." Arab Law Quarterly 18, no. 1 (2003): 62–80. http://dx.doi.org/10.1163/026805503773081735.
Full text
18
BASIR, Cik. "Sharia Principles in the Material Law of the National Banking Legal System." International Journal of Environmental, Sustainability, and Social Science 4, no. 3 (June 4, 2023): 842–46. http://dx.doi.org/10.38142/ijesss.v4i3.571.
Full textAbstract:
The national banking legal system uses two operational principles, namely conventional and sharia. Sharia banking was born and based on the Islamic legal system. Islamic banks in Indonesia have only been operating for about 25 years. This is still relatively new compared to conventional banks which have been used for more than a century. Various regulations were made to support the development of Islamic banks. This paper will examine the scope of the national banking legal system and the implementation of sharia principles in the material law of the national banking legal system. From the results of the study it was concluded that: (1) The legal system of Islamic banking in Indonesia consists of three components of the legal system, namely legal substance (material law and formal law), structure, in the form of institutions that support Islamic banking, and culture, both corporate culture , as well as the culture of society. This is in accordance with the elements of the legal system put forward by L. Friedman. (2) The implementation of sharia principles in material law within the scope of the national banking legal system has been embodied in laws and regulations in the banking sector which contain sharia principles. Hierarchically starting from the constitution, namely the 1945 Constitution, Government Regulations, Financial Services Authority Regulations, National Economic Law Compilation and DSN-MUI Fatwas. However, in a number of regulatory matters (material law) Islamic banking is still the same as conventional banks.
19
Usak, Usak. "Akibat Hukum Merger Bank Syariah Mandiri, BRI Syariah, dan BNI Syariah." Wajah Hukum 7, no. 2 (October 31, 2023): 360. http://dx.doi.org/10.33087/wjh.v7i2.1253.
Full textAbstract:
The purpose of writing this article is to examine legal arrangements for merger of Islamic banking and legal consequences of the merger of Bank Syariah Mandiri, BRI Syariah, and BNI Syariah. The research method used in this research is normative juridical method. Results of this study found that provisions regarding the merger of Islamic Banking are carried out in accordance with the provisions of the legislation as mandated by Article 17 paragraph (3) of Law Number 21 of 2008 concerning Islamic Banking. The legal arrangements for the merger of Islamic Banking in Indonesia can be referred to the Banking Law, Limited Liability Company Law, Islamic Banking Law, Government Regulation Number 28 of 1999, and OJK Regulation Number 41 of 2019. In addition, the merger of Sharia Banks must also pay attention to terms and conditions relating to the prohibition of monopolistic practices and unfair business competition as referred to in Law Number 5 of 1999. The legal consequences of the merger of BRI Syariah, BNI Syariah and Bank Mandiri Syariah may affect the company, shareholders, customers and employee.
20
Alamudi, Ichwan Ahnaz. "POLITIK HUKUM DI INDONESIA: REGULASI PERBANKAN SYARIAH DALAM TATA HUKUM INDONESIA." AL-BALAD : Jurnal Hukum Tata Negara dan Politik Islam 3, no. 2 (December 27, 2023): 21–39. http://dx.doi.org/10.59259/ab.v3i2.61.
Full textAbstract:
This article is motivated by the banking sector which is undergoing dramatic changes because the concept of interest has resulted in the inability of the community in economic matters and also eventually propagated to other orders of life, including social life, politics, and other fields in a country. The presence of Islamic banking in Indonesia has had a major impact on the economy of the community, because Islamic banking is not the concept of interest. This article uses a qualitative descriptive approach that is more specific to library research data. In this paper the authors produce that the politics of law as a policy to implement the objectives of the state, especially in the field of law on the law that will run, is running and has been applied that dimbil through the values in society to achieve the goals of the state. Furthermore, the implementation of Sharia banking law is carried out in stages in the early stages of Sharia banking regulation regulated in law Number 7 of 1992 by accommodating banks in the principle of profit sharing. Sharia banking regulation in the next stage is regulated in Law No. 10 of 1998 by implementing the Sharia principle Bank model. And in the end a new law was issued Law No. 21 of 2008 which regulates Islamic banks separately from conventional banks.
Keywords: Politics, Law, Islamic Banking.
21
Lumban Gaol, Christopher Panal, Gregory Hansrainer, and Bennett Rainey. "Bank Interest in Islamic Law." At-Tasyrih: jurnal pendidikan dan hukum Islam 9, no. 1 (May 26, 2023): 34–43. http://dx.doi.org/10.55849/attasyrih.v9i1.149.
Full textAbstract:
T
This journal aims to examine the concept of bank interest (riba) within the framework of Islamic law (Sharia). The practice of charging and receiving interest has been a topic of significant debate and controversy among Islamic scholars and jurists. This paper provides an in-depth analysis of the philosophical underpinnings of bank interest in Islamic law, taking into account various perspectives and interpretations within the Islamic legal tradition. The journal begins by exploring the foundational principles of Islamic law and its ethical framework, highlighting the prohibition of riba as outlined in the Quran and the Hadith. It discusses the historical context and evolution of Islamic banking and finance, emphasizing the need for alternative financial mechanisms that comply with Islamic principles. The study then delves into the philosophical considerations surrounding bank interest from an Islamic legal perspective. It examines different schools of thought and the rationale behind their positions, including the arguments for and against the permissibility of bank interest. The utilitarian perspective evaluates the societal consequences of interest-based transactions, while the deontological approach emphasizes the adherence to moral principles. The contractualist viewpoint focuses on the voluntary agreements between parties, and the concept of justice and equality is examined in relation to interest-based transactions. Furthermore, the journal analyzes contemporary practices in Islamic banking and finance, including the development of Islamic financial instruments that adhere to Sharia principles. It explores the role of regulatory bodies in overseeing and ensuring compliance with Islamic law in the financial industry. The research concludes by synthesizing the diverse perspectives and providing a comprehensive understanding of the philosophical considerations surrounding bank interest in Islamic law. It emphasizes the importance of contextual interpretation and critical analysis within the Islamic legal tradition to address the challenges and complexities posed by modern financial systems.
22
Salh, Shamsalden Aziz, and Mark Hyland. "Sharīʿah Regulation and Supervision of the Iraqi Islamic Banking System." Arab Law Quarterly 35, no. 1-2 (October 5, 2020): 212–44. http://dx.doi.org/10.1163/15730255-bja10060.
Full textAbstract:
Abstract This article critically evaluates the Sharīʿah regulation and supervision of the Iraqi Islamic banking system. Due to the country’s incomplete Islamic banking framework and lack of qualified Sharīʿah scholars, the Iraqi Islamic banking system is somewhat ineffective. In Iraq both the internal and external Sharīʿah supervisory systems in the Islamic banking sector are weak. The internal Sharīʿah supervisory system suffers from a shortage of qualified Islamic banking experts. At the same time, there is no effective external Sharīʿah supervisory system due to the lack of a Central Sharīʿah Board. This article examines the Sharīʿah supervisory system of the Iraqi Islamic banking industry by using case studies on Malaysia and Bahrain, both of which have a developed Islamic banking system. The Sharīʿah supervisory systems in these two countries are examined in order to propose an effective and comprehensive Sharīʿah regulatory and supervisory framework for the Iraqi Islamic banking industry.
23
Bustamin, Amirizal, Arini Azka Muthia, and Sonia Ivana Barus. "The Protection of Spiritual Rights in the Sharia Banking Dispute Settlement: Overview of the Sharia Banking Law in Indonesia." PADJADJARAN Jurnal Ilmu Hukum (Journal of Law) 9, no. 3 (2022): 388–407. http://dx.doi.org/10.22304/pjih.v9n3.a5.
Full textAbstract:
The status of Islamic banking in dispute settlement is normatively a positive legal subject to Islamic law principles. The Financial Services Authority confirms that many conflicts involve Islamic banks and their customers. The problem of the legal and economic context of Islamic banking is more complex, considering the operational concept of Islamic banks is different from conventional banking. Islamic banking must operate based on sharia, including in dispute resolution issues. Spiritual rights are one of the interests of Islamic banking customers that require attention. This study investigates the protection of spiritual rights in the sharia banking dispute settlement based on the perspective of Indonesian sharia banking law. This study employed normative qualitative research methods on primary data, such as the sharia banking law, the consumer protection act, and the dispute resolution act. It found that Indonesia has laws to address sharia banking disputes based on Islamic principles. However, they have not been appropriately implemented. The authority of religious courts to settle disputes on sharia banking has not been effective in protecting spiritual rights because there are still processes of settlement on sharia banking through the general courts. It indicates that stakeholders’ understanding of spiritual rights is still limited.
24
Ingratubun, Muhammad Husni. "Implementation of Legal Substance and Sharia Values in Islamic Banking in a Muslim-Minority Region." Jurnal Minds: Manajemen Ide dan Inspirasi 9, no. 2 (September 21, 2022): 213–30. http://dx.doi.org/10.24252/minds.v9i2.29292.
Full textAbstract:
This study aims to investigate the factors that impede the application of Islamic law in the operation of Islamic banking in a non-Muslim region in Indonesia, i.e., Papua. The readiness of human resources in Islamic banking, both in quantity and quality, to support Islamic banking operations in this specific case is not well investigated. This study employs a descriptive-analytical normative legal study, with technical analysis of primary and secondary data qualitatively. The investigation indicates that the application of Islamic law to the operation of Islamic banking has not gone well, contrary to the goal of establishing Islamic banking with a profit-sharing system. The progress of Islamic banking falls short, despite the national growth target.
25
Yasir, Moh, Joko Widodo, and Ali Ashar. "Islamic Law and National Law (Comparative Study of Islamic Criminal Law and Indonesian Criminal Law)." Al Hurriyah : Jurnal Hukum Islam 6, no. 2 (January 6, 2022): 82. http://dx.doi.org/10.30983/alhurriyah.v6i2.4952.
Full textAbstract:
<p><em>The Indonesian state, although the country is not an Islamic state, but in terms of Islamic legal values, both partially and completely, which are the substantive norms in various laws and regulations in Indonesia, such as the Marriage Law, Waqf Law, Hajj Law, Banking Law (both Law No. /1998 as well as Law 21/2008). The Islamic criminal law that has been implemented is in the Province of Aceh Darus Salam, which is only a small part. This study aims to determine the description of Islamic law, Islamic criminal law, and to determine the purpose of Islamic law and Indonesian criminal law. This study uses a qualitative method with a normative juridical approach. The results of the study indicate that Islamic law is a set of regulations based on the revelation of Allah and the sunnah of His Messenger regarding the behavior of the mukallaf human which is recognized and believed to be valid and binding for all Muslims who are Muslims with legal sources or arguments originating from the Qur'an, Sunnah Prophet, and Ra'yu/ Ijtihad. While Islamic criminal law is the law that regulates crime and its sanctions, with the aim of preserving human life in their religion, themselves, their minds, their assets, their honor and the relationship between the perpetrators of crimes, victims and society. Islamic law itself aims to realize or realize and maintain the benefit of humans in this life (world) in order to obtain happiness in this world and in the hereafter. Meanwhile, Indonesian criminal law aims to prevent crimes and violations of the law and provide a deterrent effect for perpetrators of criminal acts</em>.</p><p><em>Negara Indonesia walaupun negaranya bukan bentuk negara Islam , namun secara nilai-nilai hukum islam baik sebagian maupun seluruhnya yang menjadi norma substantif dalam berbagai peraturan perundang-undangan di Indonesia seperti hal UU perkawinan, UU Wakaf, UU Haji, UU Perbankan (baik UU No 10/1998 maupun UU 21/2008). Adapun hukum pidana Islam yang sudah menerapkan adalah di Provinsi Aceh Darus Salam yang baru sebagian kecil saja.</em><em> </em><em>Penelitian ini bertujuan untuk mengetahui gambaran hukum Islam, hukum pidana Islam, dan untuk mengetahui tujuan hukum Islam serta hukum pidana Indonesia. penelitian ini menggunakan metode kualitatif dengan pendekatan yuridis normatif. Hasil penelitian menunjukkan bahwa hukum Islam adalah seperangkat peraturan berdasarkan wahyu Allah dan sunnah Rasul-Nya mengenai perilaku manusia mukallaf yang diakui dan diyakini sah dan mengikat bagi seluruh umat Islam yang beragama Islam dengan sumber atau dalil hukum yang bersumber dari Al-Qur'an, Sunnah Nabi. , dan Ra'yu/ Ijtihad. Sedangkan hukum pidana Islam adalah hukum yang mengatur tentang kejahatan dan sanksinya, dengan tujuan untuk memelihara kehidupan manusia dalam agamanya, dirinya, akalnya, hartanya, kehormatannya dan hubungan antara pelaku kejahatan, korban dan masyarakat. . Hukum Islam sendiri bertujuan untuk mewujudkan atau mewujudkan dan memelihara kemaslahatan manusia dalam kehidupan (dunia) ini agar memperoleh kebahagiaan di dunia dan di akhirat. Sedangkan hukum pidana Indonesia bertujuan untuk mencegah terjadinya kejahatan dan pelanggaran hukum serta memberikan efek jera bagi pelaku tindak pidana</em>.</p><p> </p>
26
Hejazziey, Djawahir. "Political Aspects of Shari’a Banking Law in Indonesia." JURNAL INDO-ISLAMIKA 2, no. 1 (June 20, 2012): 105–24. http://dx.doi.org/10.15408/idi.v2i1.1659.
Full textAbstract:
This article discusses the history of the establishment of Islamic banking in Indonesia. The author examines the derivers of their establishment and argues that, aside other aspects, political aspects give contribution to the establishment of the Islamic banking. He describes a number of evidences of how politics play an important role in the success of their establishment; one of those proofs is the economic and political Islam interdependence which can be read in the idea of Indonesian Muslims on establishing Islamic banks, which is influenced by political content. At the beginning, the relationship between Muslims and the New Order was covered with suspicions and prejudices. The rulers of the New Order in the 1970's were still suspicious of the idea on the establishment of an Islamic state or the realization of the Jakarta Charter. Until recent days, the idea is still debated.
27
Miftah Idris. "PERJANJIAN KREDIT KONVENSIONAL DAN AKAD PEMBIAYAAN SYARIAH DALAM SISTEM PERBANKAN." Madani Legal Review 1, no. 1 (June 15, 2017): 29–51. http://dx.doi.org/10.31850/malrev.v1i1.27.
Full textAbstract:
In distribution of fund, the system adopted by conventional banking and Islamic banking is almost the same in distributing the fund with the provision of credit and of financing by banks to their customers. There is specifically legal basis of contract (aqad) that distinguishes where conventional banking is based on the contract law in Burgerlijk Wetboek and Islamic banking is based on aqad law stipulated in Islamic Sharia (Islamic Law). Problems studied in this research is how the credit contract in the conventional banking and how aqad financing in islamic banking are actually. To know the problem, it will be used descriptive study using secondary data as the data source of this research and then analyzed qualitatively. Thus concluded that the credit contract is a beginning process between the creditor and debtor which are applied in the conventional banking system in its efforts to develop funds collected and also to utilize the funds with the best. But Islamic banking financing adheresses to the profit and loss sharing system that has a unity concept in facing of risk and benefit and also existed justice in bussiness is the basic principle of Islamic banking system.
28
Dwi Saputro, Anip, Adib Khusnul Rois, and Uzair Al Bazi. "Heart Half Implementation Sharia Banking In Indonesia." IKONOMIKA 3, no. 2 (January 30, 2019): 127–38. http://dx.doi.org/10.24042/febi.v3i2.3258.
Full textAbstract:
Islamic banking in Indonesia has been regulated in the law, namely Law number 10 of 1998 concerning amendments to Law number 7 of 1992 concerning banking. As time goes by, the existing Islamic banking practices are starting to be questioned, questioned, and criticized, because there are those considered deviant even out of the sharia corridor itself. Against various problems that exist in Islamic banking, it needs to be addressed appropriately. By understanding the nature of the principle of tadrij fii tasyri, we are required to better understand and focus on the processes and stages in the implementation of syariah banking. So that with all the problems of Islamic banking faced now, it must be understood that this is still the stages, not the end and purpose of the application of Islamic banking it self. However, the main problem in the implementation of Islamic banking is the commitment. Islamic banking is in a comfortable zone with its current format. Efforts to implement Islamic banking are still half-hearted, even less serious. Even though there is a lot of criticism embedded in Islamic banking, starting from the practice of improper contracting, Human Resources (HR) who are not competent with the sharia itself, and banking products that are less adaptive and responsive. Keywords: Implementation, Commitment, HR, Product and Agreement, Tadrij fii Tasyri
29
Bakhtiar, Bakhtiar. "KONFIGURASI POLITIK DALAM PEMBENTUKAN HUKUM PERBANKAN SYARI’AH." Alfuad: Jurnal Sosial Keagamaan 3, no. 1 (September 9, 2019): 1. http://dx.doi.org/10.31958/jsk.v3i1.1579.
Full textAbstract:
Sharia banking law was formed in the reform era through the procedure of making political decisions at the suggestion of the DPR RI. At the beginning of the reform order the legal product tended to be responsive. All the pillars of democracy can play a role. It's just that legal products that are born more serve international institutions or financiers because political configurations are more likely to be oligharkhi-cartels. The birth of this law is in line with the increasingly existence of Islamic banking in contributing and economic growth in Indonesia. As a political product, sharia banking law was born after a number of fundamental changes, especially changes in the construction of judicial authority carried out by the Supreme Court and the Judiciary under it. The birth of Islamic banking law follows a responsive legal character because this law embodies the needs of the community, guarantees business certainty and guarantees legal protection, gives space and movement to Islamic banking to develop and create innovations in Islamic banking products and services. In addition, this law is also the answer to the implementation of laws in accordance with Pancasila and has accommodated the needs of religious law. In the process of forming all stakeholders play an active role in either political parties or political forces, community organizations, government and society.
30
Hasan, Muhammad. "PERTARUNGAN HUKUM SHARI’AH DAN KAPITALISME DALAM SISTEM PERBANKAN KONTEMPORER DI INDONESIA." Al-Maslahah Jurnal Ilmu Syariah 12, no. 2 (January 19, 2017): 351. http://dx.doi.org/10.24260/almaslahah.v12i2.402.
Full textAbstract:
Islamic banking is a bank that operates based on economic principles that set in Islamic
law. The capitalist system with its interest concept is an economic system that has some
variants contrary to Islamic law. Although, the concept of interest a debate among Muslim
scholars and scientists, but the presence of Shari’ah banking has proven economic expert
support Muslims with the prohibition of interest system. Philosophically and axiology
profit and loss sharing, sale and purchase, and the system of interest has its implications.
Rate system is a system that is contrary to shari'ah banking operating system, but often the
existing product ownership in the shari'ah as the product mura>bah}ah is identical to the
system of interest. Similarly, other products are still difficult to distinguish from
conventional systems / capitalist in its operations. On the plains, epistemology, banking
products shari'ah should be improved so that it becomes a pure economic system is based
on Islamic law, not the capitalist system of legalized with the philosophy of Islamic law. In
other words, there needs to be alignment between the philosophical and epistemological
aspects in the development of banking products shari'ah.
Keywords: Profit sharing, murãbahah, islamic law, riba’, bank, interets.
31
Andrew, Richard. "Lika-Liku Perkembangan Filsafat Ilmu Syariah, dan Apakah Bermanfaat bagi Dunia Perbankan?" Jurnal Ilmiah Ekonomi Islam 9, no. 3 (November 16, 2023): 3688. http://dx.doi.org/10.29040/jiei.v9i3.9145.
Full textAbstract:
Islamic banking philosophy continues to experience rapid development. In Indonesia, the concept of Sharia continues to grow and widely used in every aspects, especially in the banking sector. Since declare of the Sharia banking-law in 2008, Islamic banking has experienced significant development. Dinamica of fatwa MUI, as institution authorized to issue 140 fatwas on Sharia financial and banking principles. OJK successfully prepares Banking Development Roadmap Sharia 2020-2025 to encourage the development of the Islamic. The performance of the financial industry is better than conventional banks in the midst of the Covid-19 pandemic. The public literacy index for Islamic banking is only 8.93 percent compared conventional banks of 37.72 percent.The government is committed to encouraging the birth of a halal Industrial Park Center supported by the development of the largest sharia-based financial system in the world. The purpose of this study to determine how beneficial the development of Islamic philosophy in the banking. The research method follows the various dynamics of the development of relevant Sharia studied based on the philosophy of Islamic law and the politics of Islamic law. The results showed that the philosophy of Islamic banking has a significant impact on the overall economy of Bank Syariah.
32
Wahyuna, Sari, and Zulhamdi Zulhamdi. "Perbedaan Perbankan Syariah dengan Konvensional." Al-Hiwalah : Journal Syariah Economic Law 1, no. 2 (December 31, 2022): 183–96. http://dx.doi.org/10.47766/alhiwalah.v1i2.879.
Full textAbstract:
This article aims to test the financial performance between Islamic Banks and Conventional Banks, and examine the influence of financial performance on investment decisions, both in Islamic Banks and Conventional Banks. Basically it has a function as a place to collect funds from the public in the form of savings and distribute them again to the community in the form of credit or other forms in order to improve the standard of living of the people as explained in Law Number 10 of 1998 concerning Banking, so that today's society many use banking services in Indonesia, but many Indonesian people are now starting to hesitate to use banking services, especially conventional banking because it adheres to the interest system which according to Islam is forbidden. As an alternative for people who are afraid of bank interest, Islamic banking is born which applies a profit-sharing system in calculating the profits of its funds and based on Islamic law is recognized as halal. Differences Islamic Banks and Conventional Banks:. Sharia banking law is based on Islamic sharia based on the Qur'an and Hadith and Fatwa Ulama (MUI) while conventional banks are legal based on positive law applicable in Indonesia (Civil and Criminal). violates Islamic law (only for halal businesses) while lending to conventional banks can be done in various businesses that are considered safe and profitable. As long as it doesn't violate applicable laws and regulations
33
Komarudin, Parman, and Muhammad Syarif Hidayatullah. "Alur Legislasi dan Transformasi Hukum Perbankan Syariah di Indonesia." Mizan: Journal of Islamic Law 5, no. 1 (June 18, 2021): 133. http://dx.doi.org/10.32507/mizan.v5i1.868.
Full textAbstract:
This paper aims to study the flow of legislation and transformation of Islamic banking law in the national legal system or legislation in Indonesia. The research method used is normative legal research with a statutory approach and historical approach. The results of the discussion showed that the flow of legislation and transformation of Islamic banking law in Indonesia can be divided into four phases, namely the free phase of Islamic values when law No. 14 of 1967 on Banking Fundamentals, then the phase of the introduction of a revenue sharing system with the issuance of Law No. 7 of 1992 on Banking, then the advanced phase with the form of affirmation of the existence of Islamic Banks through Law No. 10 of 1998 on Amendments to Law No. 7 of 1992 on Banking , after that until the phase of refinement or purification with the presence of Law No. 21 of 2008 on Islamic Banking.Keywords: Legislation; Legal Transformation; Islamic Banking Law AbstrakTulisan ini bertujuan untuk mengkaji alur legislasi dan transformasi hukum perbankan syariah dalam sistem hukum nasional atau perundang-undangan di Indonesia. Metode penelitian yang digunakan adalah penelitian hukum normatif dengan pendekatan perundang-undangan dan pendekatan historis. Pengkajian yang dilakukan menunjukkan bahwa alur legislasi dan transformasi hukum perbankan syariah di Indonesia dapat dibagi menjadi beberapa fase, yakni fase bebas nilai Islam ketika berlaku Undang-undang No. 14 Tahun 1967 tentang Pokok-pokok Perbankan, dilanjutkan fase pengenalan sistem bagi hasil dengan dikeluarkannya Undang-undang No. 7 Tahun 1992 tentang Perbankan, kemudian fase lanjutan dengan bentuk penegasan keberadaan Bank Syariah melalui Undang-undang No. 10 Tahun 1998 tentang Perubahan atas UU No. 7 Tahun 1992 Tentang Perbankan, setelah itu sampai pada fase penyempurnaan atau pemurnian dengan hadirnya Undang-undang No. 21 Tahun 2008 tentang Perbankan Syariah.Keywords: Legislasi; Transformasi Hukum; Hukum Perbankan Syariah
34
Zaisika Khairunnisak and Hashim Purba. "Good Corporate Governance in Sharia Banking." Indonesian Journal of Business Analytics 3, no. 3 (June 29, 2023): 803–14. http://dx.doi.org/10.55927/ijba.v3i3.4813.
Full textAbstract:
Islamic banking business is growing in Indonesia. The implementation of sharia banking business is a tangible manifestation of the adoption of the Sharia Law System in Indonesia. Islamic banking business is carried out by Islamic banks. As a subject of law, in the implementation of Islamic banking business, Islamic banks are legally obliged to apply GCG Principles. The non-implementation of legal obligations to apply GCG Principles in the implementation of Islamic banking business creates legal liability for Islamic banks.This study discusses the application of GCG Principles in the implementation of Islamic banking business by Directors acting on behalf of Islamic banks. In this regard, this study is focused on examining the legal responsibility of Islamic banks due to the non-application of GCG Principles in the implementation of Islamic banking business.This research is a type of normative research. The method used in this study is the normative juridical research method. This research is a prescriptive analysis, using various types of data as appropriate in legal research.
35
Halabi, Abdel, and Ashraf Kazi. "The Influence of Quran and Islamic Financial Transactions and Banking." Arab Law Quarterly 20, no. 3 (2006): 321–31. http://dx.doi.org/10.1163/026805506778388836.
Full textAbstract:
AbstractThe Quran is the holy book of the followers of Islam, where simple solutions to the day-to-day problems of life are discussed in detail. Whatever the nationality of a Muslim, the Quran and Islamic prayers remain in a single universal language called "Arabic". Thus, uniformity has been maintained throughout the world from the days of the Prophet Mohammed, in the seventh century to the twenty-first century. Financial transactions and banking based upon Shariah are growing rapidly today. Islamic banking has been widely accepted in many countries such as Pakistan, Malaysia, Brunei, and Saudi Arabia, and are an increasing presence in Canada and Australia. Islamic banking and financial transactions are different from conventional banks, and this has led to some criticisms. After tracing the history of Islamic Banking some of these criticisms are discussed. While Islamic Banking does face some challenges, it continues to grow, and this growth reflects the desire for social, political and economic systems based on Islamic principles.
36
Gazali, Ahmad. "KREDIT BERMASALAH DI PERBANKAN SYARI'AH DALAM PERSPEKTIF TEORI CACAT KEHENDAK." Alhadharah: Jurnal Ilmu Dakwah 17, no. 34 (January 7, 2019): 1. http://dx.doi.org/10.18592/alhadharah.v17i34.2382.
Full textAbstract:
The development of Islamic banking, especially in Indonesia, is currently very perspective. Therefore there is trust from the community must always be maintained. Efforts to develop and trust must support two aspects, namely the implementation of transparency with Islamic ethics and a sense of foundation that provides certainty and a sense of justice. As a sharia banking, the operational basis is Islamic law, thus the readiness of Islamic law must always exist and be able to overcome the development of the development of the Islamic banking world. This paper is only a small part of the discussion to be approved and legal norms of sharia banking are made.
37
Zuliansyah, A. "Mereview Arah Undang-Undang Perbankan Syariah di Indonesia." Muqtasid: Jurnal Ekonomi dan Perbankan Syariah 2, no. 1 (July 1, 2011): 91. http://dx.doi.org/10.18326/muqtasid.v2i1.91-113.
Full textAbstract:
The application of Islamic law in the activities of banking/finance or other modern economic activities is not a simple job. The study of the banking law, or sharia finance law to be an interesting study and challenging for the world of law in Indonesia, where the positive law (law) in the country of Indonesia is different from that applicable to the religious law (Islam). Enforcement of religious law (Islam) must go through a process referred to as the ”positivisasi” Islamic law. In this case, Islamic law accepted by the state in positive laws and regulations that apply nationally. This paper will examine the law of Law no. 10 of 1998 concerning Amendment to law number 7 of 1992. Likewise, Law number 21 of 2008 has some interesting general provisions to be observed. General provisions referred to (Article 1) is a novelty and will provide certain implications
38
Sarpini, Sarpini. "Application of musyarakah in Islamic banking." Journal of Islamic Economics, Management, and Business (JIEMB) 1, no. 1 (January 5, 2020): 173–90. http://dx.doi.org/10.21580/jiemb.2019.1.1.3710.
Full textAbstract:
Purpose - The purpose of this study is to explain syirkah, one of the popular profit-sharing scheme.Method - This research is a descriptive analysis that describes all data and then analyzes the data to obtain a conclusion.Result - This study concludes that the legal basis of syirkah is Al-Qur'an, Sunnah, ijma 'and its application in Islamic banking, namely project financing and venture capital.Implication – Understanding one of the implementation of the profit-sharing system mostly keeps the principle of justice running in the economy.Originality - This study is essential to continue to be studied and explored considering there are still many issues of Islamic law (muamalah) that need to be resolved in sharia law.
39
Al-Shibli, Farouq Saber. "Litigation or Arbitration for Resolving Islamic Banking Disputes." Arab Law Quarterly 32, no. 4 (November 9, 2018): 413–38. http://dx.doi.org/10.1163/15730255-12324040.
Full textAbstract:
Abstract When investors decide to deal with Islamic banks, one of their main concerns is to ensure their businesses are protected in the case of disputes arising. For this reason, developing a good legal framework for resolving disputes is crucial to strengthen the position of Islamic banks in the global financial market. However, the unique nature of Islamic financial products and transactions requires that the disputes arising from this sector should not be dealt with by means of conventional laws and courts (litigation). It can be said that current practice, where Islamic banking and finance disputes are resolved by litigation with lopsided judgments is counterproductive to the practice of Islamic banking and finance. This article therefore explores the problems associated with resolving Islamic banking disputes through litigation and proposes arbitration as an alternative method for establishing a legal framework for dispute resolution in countries where Islamic banking is implemented.
40
Kholid, Muhamad. "Sharia Arbitration as an Alternative Settlement of Sharia Banking Disputes." International Journal of Nusantara Islam 6, no. 1 (January 27, 2019): 73–92. http://dx.doi.org/10.15575/ijni.v6i1.4043.
Full textAbstract:
The enactment of Law Number 10 of 1998 concerning Amendments to Law Number 7 of 1992 concerning Banking, became an explicit formal juridical basis for the implementation of the Islamic banking system in Indonesia. These developments should be accompanied by anticipatory steps regarding the problem of settling the dispute. Law Number 30 of 1999 concerning Arbitration and APS (Alternative Dispute Settlement) responds to existing deficiencies by preparing dispute resolution institutions through arbitration. The type of arbitration authorized to settle Islamic banking in Indonesia is Sharia Arbitration so that Sharia Arbitration is the main choice for Sharia Banking business actors. This article will discuss the authority and effectiveness of Sharia Arbitration decisions in resolving Islamic banking disputes in Indonesia. The method used is normative juridical. The study was conducted with 2 (two) stages, namely: library research (library research) and field research (field research). Data collection is done by document study and interview. Data Analysis Method used is descriptive analytical with qualitative normative juridical approach. The results of the study concluded that Sharia Arbitration competencies can resolve sharia banking disputes which are part of the Islamic economy coupled with disputes which according to the law can be held peace.
41
Hidayat, Asep Syarifuddin, Hari Sutra Disemadi, Sholahuddin Al-Fatih, A. Salman Maggalatung, and Nur Rohim Yunus. "Legal Obligations of Corporate Social Responsibility as Efforts to Improve the Image of Islamic Banking in Indonesia." Samarah: Jurnal Hukum Keluarga dan Hukum Islam 6, no. 2 (December 31, 2022): 775. http://dx.doi.org/10.22373/sjhk.v6i2.12455.
Full textAbstract:
: This study aims to identify and analyze Islamic banking policies in maintaining and even improving the image/reputation of Islamic banking and to contribute scientifically to CSR in Islamic banking based on national law and Islamic law. This study uses a qualitative normative legal research method with a conceptual, statutory, and sociological approach. The results of this study indicate that the image or reputation of Islamic banking is the beliefs or feelings of consumers or stakeholders about Islamic banking itself. The reputation of Islamic banking is respect, assessment, and even appreciation from consumers or stakeholders. Islamic banking in improving its image or reputation can be done through CSR. This study provides a descriptive picture of Islamic banking, in general, to provide quality programs through CSR. CSR activities by several examples of Islamic banking in Indonesia refer to the company's obligation to protect and contribute to the community and stakeholders where the company is located. The concept of CSR in Islam is implemented in 3 (three) models of responsibility, namely the relationship of responsibility to Allah SWT; responsibility to humans; and responsibility to the natural environment. The concept of CSR in Islamic banking is a necessity that needs to be implemented as a form of responsibility towards fellow humans and the environment.
42
Karimah, Iffah. "BETWEEN LEGAL RISK AND SHARIA RISK IN ISLAMIC BANKING: HOW SHARIAH GOVERNANCE ADDRESS THE PROBLEM." Diponegoro Law Review 7, no. 1 (April 28, 2022): 88–105. http://dx.doi.org/10.14710/dilrev.7.1.2022.88-105.
Full textAbstract:
Islamic Bank has unique risk due to its Sharia-compliance principles. Two of risksknown in Islamic Banking are legal risk and sharia risk. This paper aims to explain the legal risk and sharia risk faced by Islamic Banking in Indonesia. Moreover, this paper also will discuss the cause of these risks and its mitigation strategy using Shariah Governance concept. This paper using literature studies from previous research and existing regulation in Indonesia. This research shows that Islamic Banking in Indonesia has unique legal risks and sharia risk due to its adherence to a dual law system: shariah law and national law. There are several causes of legal risk and sharia risk in Islamic Banking in Indonesia, such as lack of supporting legal system and regulation, lack of standardization contract in Islamic Banking, and lack of Court Systems to resolve Islamic Banking’sproblem. Moreover, there are severalissues on the product development process in Islamic Bank. In addition, this paper explores the role of Shariah Governance such as Sharia Supervisory Body and National Shariah Board as a solution to address the problem stemming from legal risk and sharia risk.
43
Sulaiman Kurdi, Abdul Ghofur, and Ichwan Ahnaz Alamudi. "STUDI POLITIK HUKUM TERKAIT PASAL 79 UNDANG-UNDANG NOMOR 11 TAHUN 2020 TENTANG CIPTA KERJA KLASTER PERBANKAN SYARIAH." Mu'amalat: Jurnal Kajian Hukum Ekonomi Syariah 15, no. 1 (June 19, 2023): 73–86. http://dx.doi.org/10.20414/mu.v15i1.6872.
Full textAbstract:
This research was motivated by the birth of the job creation law in 2020 which regulates many things including Islamic banking in Article 79. This article adds to the long list of laws and regulations on Islamic banks that have existed since almost 30 years ago (1992). Researchers want to know whether there are significant changes contained by this article and whether the legal politics of Islamic banking has changed with the birth of this job creation law. This research is a type of literature study or in the legal world is called juridical-normative legal research. This study shows that Article 79 of the job creation Law No. 11 of 2020 has a combination of properties between responsive and elitist legal products, built on the desire to develop the Islamic economy as part of National Economic Development. This article contains changes to the maximum ownership of Islamic commercial banks by foreign parties, which was originally in law No. 21 of 2008 regulated by Bank Indonesia regulations, now following the laws and regulations in the field of investment. The legal politics behind the job creation law on aspects of Islamic banking is the same as other aspects, namely inviting investors not only from within but also from abroad to invest in Indonesia. This means that the government wants to open up investment space in the Islamic banking sector wider than ever.
44
Ghofur, Abdul. "PERGULATAN HUKUM DAN POLITIK DALAM LEGISLASI UU NO. 21 TAHUN 2008 TENTANG PERBANKAN SYARI’AH." Al-Ahkam 23, no. 1 (April 21, 2013): 57. http://dx.doi.org/10.21580/ahkam.2013.23.1.73.
Full textAbstract:
This study intends to analyze the historical background of the enactment of Law No. 21 of 2008 concerning Islamic Banking in the perspective of relationship between law and political power. This study are considered attractive in the context of Indonesia as a state law that the majority of the population is Muslim, which is ethically Islamic law becomes an important part in the law development. Politically, the Indonesian government also has a historical background of the harmonious relationship with the Islamic forces. Determination of law No. 21 of 2008 concerning Sharia banking is not free from the constellation and political configurations that occured at that time. However, despite decorated by strict political configuration, the determination of this statue has a accountability of its juridical basis, sociological, and philosophical. Determination This law proves that Islamic law has become one of the sources of national law and has the opportunity to contribute to the development of national laws optimally in the future.
45
Muhammad Fadhli, Sadad Mahmud, Ahmad Azrin Adnan, Abd Jamal, and Ibraheem Alani AbdulKareem. "Review of Islamic Law Against Execution of Collateral Auctions on Islamic Banking Institutions in Aceh, Indonesia." Journal of Management Theory and Practice (JMTP) 2, no. 1 (April 8, 2021): 88–93. http://dx.doi.org/10.37231/jmtp.2021.2.1.95.
Full textAbstract:
This article review Islamic law quoted from jurists’ opinion and legal experts on the use of auction trading theory in the collateral sale. Every financial transaction in Islamic banking required a guarantee. It is intended to save bank funds if the customer defaults. Based on constitutional act Number 4 of 1996 of mortgage rights, Islamic banks have the right to confiscate the asset (guarantees) of a customer who has reached the due date without intention to pay. However, the bank cannot carry out unilateral execution to make direct sales. The formal procedures which banks must follow to disburse funds from customer guarantees are usually long and often meet various obstacles. This article analyzes normatively and empirically the bail auction guarantees implementation on Islamic banking in Aceh based on the Islamic law concept from the al Quran, Hadith, and the scholars’ Ijma’. Although conventional law is still used in the auction rules, the implementation of guarantees as applied to Islamic banking has adopted many Islamic laws. However, in the practice, there are still many problems that arise from the Islamic law scope which uphold the philosophy of maslahah and the concept of justice. The paper, therefore, employs qualitative approach and secondary date to investigate Shariah perspective against execution of collateral auctions on Islamic banking institutions in Aceh, Indonesia.
46
Darrat, Ali R. "Islamic Law and Finance." American Journal of Islam and Society 8, no. 3 (December 1, 1991): 549–51. http://dx.doi.org/10.35632/ajis.v8i3.2612.
Full textAbstract:
This book is a collection of essays presented at a conference held inApril 1988 and organized by the Center of Near and Middle Eastern Studiesand the Law Department, School of Oriental and African Studies, Universityof London.Since the mid-I970s, there has been a significant revival of fundamentalIslamic values in several Muslim countries throughout the world. Indeed,a number of Muslim (or perhaps, Islamic) countries like Iran, Pakistan, andthe Sudan have recently taken practical steps towards the total Islamizationof their economic and financial structures. Among the basic characteristicsof an Islamic financial (banking) system is the prohibition of the paymentor receipt of a predetermined (fixed) interest rate which is viewed as usuryand thus prohibited. As an alternative, the Islamic financial system operatesunder the general principle of profit-loss sharing, which effectively transformsbanks into equity-based (investment) firms.As Mallat correctly points out in his preface, the Western notion of profitmaximization does not control the Islamic system. Rather, it is the Shari'ahwhich primarily governs Islamic finance. However, some contributors to thebook, notably William Ballantyne in his introductory chapter, appear to doubtthe feasibility of the Islamic system and its ability to operate in contemporaryeconomies. He argues that "what is required in today's climate, is [amongother things] a restructuring of the Shari'a to fit Western economic concepts"(p. 9-emphasis added).Nevertheless it is my belief, and perhaps the belief of many Muslimscholars in the field, that such a view is unacceptable, for it seems to bein direct conflict with the core of Islam. A basic tenant of Islam is that theShari'ah cannot be changed or restructured to satisfy other lines of thought.Indeed, voluminous contemporary research now exists that demonstrates theviability and relevance of pure Islamic teachings to today's complex economicenvironment. Examples of such research include Chapra (1985, 1991); Khan(1986); Habibi (1987); Darrat (1988); Darrat and Suliman (1990); and Darrat,Suliman, and Bashir (1991).The view that the Islamic economic system is superior to the contemporaryWestern interest-based economic system is not totally unique withMuslim scholars. Western economic thinkers have also shared a similar view.For example, prominent American economists like Henry Simon (1948) and ...
47
Rusni Hassan, Ibtisam @ Ilyana Ilias, and Tuan Nur Hanis Tuan Ibrahim. "ISLAMIC BANKING DISPUTE RESOLUTION: THE EXPERIENCE OF MALAYSIA AND INDONESIA." IIUM Law Journal 30, S2 (November 12, 2022): 317–58. http://dx.doi.org/10.31436/iiumlj.v30is2.771.
Full textAbstract:
The dispute resolution mechanism in a country involving Islamic banking depends on its applicable law. A workable mechanism guarantees a harmonious settlement and ensures justice is upheld in conjunction with the spirit of Islamic law. This study aims to analyse various mechanisms to resolve Islamic banking disputes in Malaysia and Indonesia by referring to the latest legal and judicial developments in both jurisdictions. It adopts doctrinal and comparative legal research methodology whereby the relevant primary and secondary sources of law were meticulously appraised. Findings of this study reveal that both countries have their own unique way of dealing with Islamic banking and finance cases. In Malaysia, the jurisdiction is vested in civil courts with mandatory reference to the SAC in deciding Shari’ah issues. Regarding Indonesia, Article 55 (1) of Law No. 21 (2008) provides that a Religious Court shall have jurisdiction to hear matters involving Islamic banking disputes, unless there is an agreement stating that the dispute resolution should be done in another manner, provided the chosen manner does not contradict with Shari’ah principles. There is also an option to refer to the Dewan Shari’ah Nasional Majlis Ulama Indonesia for expert opinions. Both jurisdictions also acknowledge alternative dispute resolution as a mechanism for dispute settlement. This study emphasises the need to enhance the knowledge and in-depth understanding of judges in the relevant field of law; Shari’ah law for civil court judges and civil law for religious court judges, to facilitate the dispute resolution process.
48
Mayer, Ann Elizabeth. "Islamic Banking and Credit Policies in the Sadat Era: the Social Origins of Islamic Banking in Egypt." Arab Law Quarterly 1, no. 1 (1985): 32–50. http://dx.doi.org/10.1163/157302585x00383.
Full text
49
Prasetiyo, Luhur. "Perkembangan Bank Syariah PAsca UU 21 Tahun 2008." Al-Tahrir: Jurnal Pemikiran Islam 12, no. 1 (May 1, 2012): 43. http://dx.doi.org/10.21154/al-tahrir.v12i1.46.
Full textAbstract:
<em>Islamic banking system still grows continuously over time in various countries, including Indonesia. Although it was a bit late, if it was compared to another, Islamic banking system began to develop in Indonesia in the early 1990’s. At that time, Islamic banking, however, was still running with its all characteristics based on the rule without adequate law. Islamic banking began to be recognized legally as the legalization of UU Perbankan 1992, and it was followed by its deregulation in 1998, and Islamic banking in Indonesia finally got its full legality after legalization of UU Perbankan Syariah in 2008. UU Perbankan Syariah as a new law certainly has significance for the development of Islamic banking in Indonesia. Based on the BI statistics, Islamic banks, especially Bank Umum Syariah after legalization of UU Perbankan Syariah, has been growing significantly, among in the number of banks, total assets, and total financing. Unfortunately, the growth of PLS (profit and loss sharing) doesn’t occupy a significant position in total financing of Islamic banks, whereas PLS is core system in Islamic banking.</em>
50
Fadli, Fadli. "PENGARUH PENGETAHUAN DAN IKLAN TERHADAP MINAT MENABUNG DI BANK SYARIAH (STUDI MAHASISWA FAKULTAS EKONOMI DAN BISNIS ISLAM IAIN PADANGSIDIMPUAN ANGKATAN 2014)." Imara: JURNAL RISET EKONOMI ISLAM 1, no. 1 (March 30, 2018): 1. http://dx.doi.org/10.31958/imara.v1i1.986.
Full textAbstract:
Syariah Banking is an Islamic banking which has main function to deploy and distribute funds to society. Islamic banking is a relevance inancial institution to Islamic principles such as Al qur’an and Hadist. The condition of Islamic banking at state institute for Islamic studies, Padang Sidempuan was many students preferred to learn about banking, Islamic law, Islamic syariah bank, and syariah bank, from the available bank advertisement like magazines, newspapers, radio, television, and others.