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All Journal al-Afkar, Journal For Islamic Studies El-Iqtishady IQTISHOD: Jurnal Pemikiran dan Hukum Ekonomi Syariah Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah J-CEKI
Sofyan Al-Hakim
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Agriculture, Biological Sciences & Forestry Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Industrial & Manufacturing Engineering Law, Crime, Criminology & Criminal Justice Social Sciences

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Journal : Al-Kharaj: Jurnal Ekonomi, Keuangan

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Dialektika Fikih Musyarakah Mutanaqisah: Analisis Kritis Penerapannya dalam Pembiayaan Perumahan Syariah di Indonesia Abdul Fattah; Sofyan al-Hakim; Fauzan Januri
Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol. 7 No. 9 (2025): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Intitut Agama Islam Nasional Laa Roiba Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v7i9.9233

Abstract

This paper presents a comprehensive analysis of the jurisprudential dialectic surrounding the application of the Musyarakah Mutanaqisah (MMQ) contract in Islamic housing finance in Indonesia. MMQ, as a sophisticated Islamic jurisprudential (fiqh) innovation, is designed to offer an equitable alternative to debt-based financing models. However, this study identifies a fundamental tension between the ideals of fiqh and the realities of its implementation in the Indonesian financial market. The main findings indicate that although MMQ is theoretically a genuine partnership product that accommodates scholarly differences of opinion (ikhtilaf), its practical application often faces significant challenges. These challenges include a substantial gap in risk-sharing mechanisms, where risks tend to be disproportionately transferred to the customer; a fundamental conflict with the national legal framework concerning collateral (the Mortgage Law or Undang-Undang Hak Tanggungan), which is based on a debtor-creditor relationship; and a critical evaluation of its fulfillment of the higher objectives of Islamic law (Maqasid al-Shariah). This paper concludes that despite MMQ's strong jurisprudential and regulatory legitimacy from the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) and the Financial Services Authority (OJK), there is a "substantive gap" that needs to be addressed for this product to realize the essence of justice and partnership that forms its philosophical foundation.
Co-Authors Abdul Fattah Aris Fauzin Asep Dadang Hidayat Aulia Nurhikmah Chandra Dodi Yarli Farid Madani Fauzan Januri Ikhsan, Muhammad Miftahul Iwan Setiawan Jaih Mubarok Jajang Herawan Jajang Komaludin Jajat sudrajat Moh. Asep Zakariya Ansori Mugni Muhit Muhammad Fauzan Januri Muhammad Furqon Almurni Royani Shofya Humaira Siti Salma Suradi Wipkil Bashor Yadi Janwari