Critical Analysis of DSN-MUI Fatwas on Hybrid Contracts: Toward a Reconstructive Drafting Framework

Chamim Tohari (Universitas Muhammadiyah Surabaya)
Jejen Hendar (Universitas Islam Bandung)
Fedya Ainur (STAI Ali bin Abi Thalib Surabaya)
Alfain Jalaluddin Ramadlan (Universitas Muhammadiyah Surabaya)
Aiitmamat Kariev (Kyrgyz-Turkish Manas University)

Tadayun: Jurnal Hukum Ekonomi Syariah
Vol. 7 No. 1 (2026)

This study examines the regulatory construction of hybrid contracts (al-ʿuqūd al-murakkabah) in fatwas issued by the National Sharia Council of the Indonesian Ulama Council (DSN-MUI) following Constitutional Court Decision No. 65/PUU-XIX/2021. It focuses on Fatwa No. 71 on Sale and Lease Back, Fatwa No. 73 on Musyārakah Mutanāqiṣah, and Fatwa No. 104 on Shariah Subrogation. Employing doctrinal legal research with statutory, conceptual, and comparative approaches, the study evaluates the legislative drafting quality of these fatwas under Law No. 12 of 2011 and assesses their transformation into binding law through Financial Services Authority Regulations (POJK) and Bank Indonesia Regulations (PBI). The findings are threefold. First, although DSN-MUI applies the Hanbali-based principles of taysīr and maṣlaḥah, ambiguities in risk allocation and asset separation create doctrinal tensions. Second, when assessed under Law No. 12 of 2011, the fatwas fall short of legislative drafting standards because theological narratives predominate, operational definitions are limited, and legal terminology is inconsistent. These shortcomings may create uncertainty when the fatwas are incorporated into regulations and contracts. Third, the study proposes a reconstruction model that places theological reasoning in a “Shariah Resolution” and codifies technical norms in a “Regulatory Standard” specifying definitions, obligations, prohibitions, oversight mechanisms, and legal consequences. This model preserves DSN-MUI’s authority to exercise ijtihād while enabling the Financial Services Authority and Bank Indonesia to formulate clearer and more enforceable rules for Islamic financial institutions. Abstrak Penelitian ini mengkaji konstruksi regulasi kontrak hibrida (al-ʿuqūd al-murakkabah) dalam fatwa DSN-MUI pasca Putusan Mahkamah Konstitusi No. 65/PUU-XIX/2021, dengan fokus pada Fatwa No. 71 (Sale and Lease Back), Fatwa No. 73 (Musyārakah Mutanāqiṣah), dan Fatwa No. 104 (Subrogasi Syariah). Menggunakan metode penelitian hukum normatif dengan pendekatan perundang-undangan, konseptual, dan komparatif, penelitian ini mengevaluasi kualitas perancangan peraturan dari fatwa tersebut berdasarkan UU No. 12/2011 untuk menilai transformasinya menjadi hukum positif melalui POJK dan PBI. Temuan penelitian menunjukkan tiga hal. Pertama, meskipun DSN-MUI menerapkan prinsip taysīr dan maṣlahah berbasis doktrin Hanbali, ambiguitas dalam alokasi risiko dan pemisahan aset memicu ketegangan doktrinal. Kedua, berdasarkan UU No. 12/2011, fatwa-fatwa tersebut menyimpang dari standar legislatif karena didominasi narasi teologis, minim definisi operasional, dan diksi hukum yang tidak konsisten. Karakteristik ini dapat menimbulkan ketidakpastian ketika fatwa diterjemahkan ke dalam regulasi dan kontrak. Ketiga, penelitian ini menawarkan model rekonstruksi yang memisahkan rasionalitas teologis ke dalam "Resolusi Syariah" dan mengodifikasi norma teknis ke dalam "Standar Regulasi" yang memuat definisi, kewajiban, larangan, pengawasan, dan akibat hukum. Model ini mempertahankan otoritas ijtihad DSN-MUI sekaligus memungkinkan OJK dan Bank Indonesia merumuskan aturan yang lebih jelas dan dapat ditegakkan bagi lembaga keuangan syariah.