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Integrating Hybrid Sharia Contracts in Letter of Credit (L/C) Transactions for Export and Import in Islamic Banking in Indonesia Sumanti, Eva; Al-Rasyid, Camelia Sofwan; Pitriani, Pitriani; Nurjaman, Muhamad Izazi; Alghani, Raid
al-'adalah Vol 21 No 2 (2024): Al-'Adalah
Publisher : Universitas Islam Negeri Raden Intan Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24042/adalah.v21i2.23301

Abstract

This study aims to analyze the application of the hybrid contracts concept in the Sharia export and import of L/C products in Indonesia to contribute to developing a practical or theoretical framework in Sharia banking. This article is a juridical-normative study using qualitative data from a literature study. Primary data comes from several DSN-MUI Fatwas related to L/C products, plus secondary data from a review of other reading materials relevant to the research topic. The data analysis techniques used are condensation, data presentation, and conclusion. This study found that the concept of hybrid contracts in sharia import and export L/C products has changed the status of L/C products, which were initially dominant service products with a single contract (wakālah bi al-ujrah) into various hybrid contract schemes with status as financing products. One of the hybrid contract schemes that are widely used is the murābahah bi al-wakālah contract, where the bank (issuing/advising bank) also provides funds in the form of purchasing imported goods, which are then resold to the importer or representing the sale of imported goods to the exporter.
Comparative Study of Sukuk in the Sharia Capital Market: Evidence in Indonesia Mubarok, Anas Bayan; Witro, Doli; Nurjaman, Muhamad Izazi; Pitriani, Pitriani; Hibaturohman, Iib; Hida, Manarul
Al-'Aqdu: Journal of Islamic Economics Law Vol 5, No 1 (2025): June
Publisher : IAIN Manado

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30984/ajiel.v5i1.3773

Abstract

This article discusses a comparative analysis of mudharabah sukuk, ijarah sukuk, and wakalah bi al-istithmar sukuk. This article aims to highlight and analyse the comparison of mudharabah sukuk, ijarah sukuk, and wakalah bi al-istitsmar sukuk so as to provide answers to the effectiveness and efficiency of the sukuk concept without denying the sharia principles in it. This research is in the form of a comparative study, namely a research procedure that compares interrelated variables by determining their differences and similarities. The data sources used come from books, classical text (yellow book), scientific article, website internet, theses, and fatwas related to the theme the author is taking. The results of the research in the article are: First, there are differences in the characteristics and schemes of mudharabah sukuk, ijarah sukuk, and wakalah bi al-istithmar sukuk, these three sukuk schemes are permissible because they are by predetermined rules. The differences that exist in these three types of sukuk do not mean that they are not allowed to make each other but can be done in different ways. Second, from this comparison, the author sees that investment in sukuk with certainly contract characteristics, especially ijarah sukuk, tends to be safer because of the certainty of the predetermined ujrah. Third, of the three types of sukuk, sukuk with a wakalah bi al-istitsmar scheme tend to be more flexible and easier to understand and implement. The level of risk and profit of the three is different, sukuk with certainly contracts tend to be safer but stable profits and tend to stagnate in contrast to sukuk that use uncertain contracts whose risks tend to be greater but there is a possibility of greater profits.
SHARIA ECONOMIC LAW PERSPECTIVE ON ONLINE MEETING PREMIUM ACCOUNT LEASING Nurjaman, Muhamad Izazi; Hakim, Sofian Al-; Setiawan, Iwan; Witro, Doli; Sahid, Mualimin Mochammad
Journal of Islamic Economic Laws Vol 5, No 2 July 2022
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i2.18750

Abstract

In general, in leasing, the object of the contract is the benefit of a tangible object. However, it is different from renting a Zoom Meeting Premium account whose position is as application software. So that its position will have benefits if its use has collaborated with hardware as hardware. Meanwhile, what is being rented is the software only. Therefore, this study will discuss the rental of Zoom Meeting Premium accounts according to the perspective of sharia economic law. This research uses a descriptive case study method with an empirical juridical approach. The data analysis technique was carried out through three stages namely data reduction, data presentation and conclusions. This study found that the position of Zoom Meeting is premium as a software application that is part of a computer program. At the same time, the computer program is part of the copyright in the form of intangible movable objects. So that there is the development of the object of the ijarah contract, generally in the form of benefits from tangible objects, which can also be in the form of benefits from intangible objects. However, the development of intangible objects as contract objects needs to be studied further by researchers so that they can be applied to all contract objects, such as intangible objects becoming objects of buying and selling contracts, mudharabah, musyarakah and other contracts.