Studi Multidisipliner: Jurnal Kajian Keislaman
Vol 11, No 2 (2024)

Critical Analysis of the Use of Conventional Banks as Custodian Banks in Islamic Mutual Fund Transactions

Harahap, Sarah Khairani (Unknown)
Al Islam, Harisma Annisa (Unknown)
Ana, Lewi (Unknown)



Article Info

Publish Date
21 Dec 2024

Abstract

There is one important component that raises doubts for capital owners who will invest in Islamic mutual funds, namely the use of conventional banks as custodian banks. The purpose of this study is to find out how sharia economic law reviews conventional banks as custodian banks. This study uses a qualitative method with a literature study approach. Data is obtained from interviewing several potential investors, various regulations related to Islamic mutual funds and custodian banks, as well as literature that reviews the principles of muamalah. It was found that conventional banks that become custodian banks must obtain an application from the Financial Services Authority. To ensure the sharia of this business activity, a cleaning process is set up to remove non-halal elements in the form of interest and other non-sharia risks that may come from the activities of related companies. The reluctance to become an investor is caused by the lack of knowledge about the mechanism of Islamic mutual funds for which literacy is needed. However, there are some potential investors who consistently want the bank used is an Islamic bank. Regulations are needed that require the use of Islamic banks as the only custodian bank, but it must be done carefully and gradually according to the readiness of the Islamic bank in question.

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Journal Info

Abbrev

multd

Publisher

Subject

Religion Humanities Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice

Description

Studi Multidisipliner: Jurnal Kajian Keislaman (Journal of Islamic Studies) published by Postgraduate IAIN Padangsidimpuan (now the status has changed to State Islamic University Syekh Ali Hasan Ahmad Addary Padangsidimpuan). This journal was started in 2014, when it was still in the form of P-ISSN: ...