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All Journal Likuid: Jurnal Ekonomi Industri Halal Mabahits Al-Uqud
Rifdah Nabilatuzain
Dokuz Eylül University
Economics, Econometrics & Finance

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Sharia Compliance in Implementing Qardh Using Customer Funds: Analysis of DSN Fatwa No. 79/DSN-MUI/III/2011 with Comparison of AAOIFI Standards Amalia Muazzah Adawiah; Rifdah Nabilatuzain; Insan Nadhif Ramadhan
Mabahits Al-Uqud Vol 2 No 1 (2025): June
Publisher : Postgraduate of Univeritas Islam Negeri Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/mau.v2i1.1402

Abstract

This study examines Sharia compliance in the implementation of Qardh using customer funds in Islamic financial institutions, focusing on the provisions of Fatwa DSN No. 79/DSN-MUI/III/2011 and its comparison with the international AAOIFI standards. The research employed a literature review method with document analysis of regulations, fatwas, and official reports of financial institutions. Source selection covered publications and regulations from 2011 to 2024, accessed through national and international databases, with thematic relevance and source authority as the main criteria. The findings reveal that the implementation of Qardh, as practiced by Bank Syariah Indonesia through a gold-collateralized Qardh scheme, formally complies with the fatwa and AAOIFI standards. However, several compliance risks were identified, including indirect benefits from the use of collateral, potential hidden riba in non-transparent administrative fees, and limited access due to rigid Financing-to-Value (FTV) policies. This study recommends concrete measures such as blockchain-based fund tracking, digital Sharia audits, standardized administrative fees, flexible FTV for vulnerable customers, and open public reporting. These findings are expected to strengthen Qardh’s role as a fair, transparent, and socially oriented Islamic financial instrument.
LEGAL DYNAMICS RELATED TO HOTEL BUSINESS STANDARDIZATION IN THE HALAL TOURISM INDUSTRY IN INDONESIA Mohammad Fateh; Heris Suhendar; Rifdah Nabilatuzain
Likuid Jurnal Ekonomi Industri Halal Vol. 6 No. 2 (2026): LIKUID: Jurnal Ekonomi Industri Halal
Publisher : Sharia Economics Study Program Faculty of Islamic Economics and Business UIN Sunan Gunun

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Abstract

This study aims to analyze the dynamics of hotel business standardization regulations in the halal tourism industry in Indonesia, examine their legal implications, and formulate a more adaptive and sustainable regulatory model. This study uses a normative juridical method with a statutory regulatory approach and a conceptual approach analyzed qualitatively through descriptive-analytical and prescriptive methods. The results indicate a transformation in the regulatory paradigm from a Sharia-compliant regulatory model to a market-oriented service-based model, characterized by a shift in terminology from Sharia tourism, halal tourism, to Muslim-friendly tourism. This transformation has resulted in a weakening of the binding power of norms (regulatory dilution) and the emergence of an imbalance between economic interests, religious values, and legal certainty (regulatory imbalance). In this context, this study proposes a hybrid regulatory model as a new formulation that integrates compliance-based and service-based approaches. This model places Sharia principles as the normative foundation while providing flexibility for business actors in responding to the dynamics of the halal tourism industry. Thus, this research provides a conceptual contribution to the development of halal tourism law, particularly in formulating a hotel business standardization model that is able to maintain a balance between industrial competitiveness and the integrity of sharia values.
Co-Authors Amalia Muazzah Adawiah Heris Suhendar, Heris Insan Nadhif Ramadhan Mohammad Fateh