APPLICATION OF MURABAHAH FINANCING BY SYARIAH BANKS FROM THE PERSPECTIVE OF ISLAMIC LAW

Abstract

Murabahah in the perspective of Islamic jurisprudence is a form of buying and selling that has nothing to do with financing, but several contemporary scholars have modified the use of murabahah as a form of alternative financing with certain conditions that must be considered. Initially, murabahah was not a form of financing, but only a tool to avoid "interest" and was not an ideal instrument for carrying out the real goals of Islamic economics. Buying and selling with a murabahah contract is based on the opinions of scholars. In general, the fuqaha agree that buying and selling with a murabahah contract is permissible (mubah), with the provision that the sale and purchase with the murabahah contract does not contain elements of usury. The application of the murabahah contract at Bank Syariah Binjai can be said to be not in accordance with sharia principles. This is because in murabahah sales and purchases with a murabahah contract, the bank does not own and control the goods to be purchased by the applicant, the bank also imposes a fine, and there is an acknowledgment of debt from the customer in the contract, which is contrary to the principle of investment. Violations of sharia principles in sales and purchases with a murabahah contract at Islamic banks, substantially, namely: a. The existence of a mortgage (APHT) the profit margin of the Bank can become usury. b. the deed of financing made by the Notary does not meet the requirements and main pillars of the agreement regulated in sharia. Technically, violations of the principles of murabahah sales and purchases, due to: a. Murabahah financing is often equated with debts because VAT does not apply to sales and purchases. b. Islamic banks do not own and control the goods to be purchased by the applicant.