scholarly journals The current position of islamic law on options contracts in the financial

2021 ◽  
Vol 11 (3) ◽  
pp. 76-78
Author(s):  
Ehab Injadat

This study is an overview of options contractsand the Islamic law view on them based on its current application in the financial markets.Methodology that has been used in thisstudy is descriptive methodology, were secondary data have been collected from books, published journals, and the resolutions of the internationalIslamic academies, where they were reviewed and discussed in order clarify the criticisms of Islamic law and Muslim scholarly consensus toward options contracts in light of its present application in the financial marketsversus who supports the use of options within a certain range.The study concluded that the current optionsinclude forbidden elements such as Gharar (ambiguity), Riba usury and Gambling.However, these contracts can be developed under certain conditions and used in the field of hedging.

ISLAMIKA ◽  
2020 ◽  
Vol 14 (1) ◽  
pp. 1-11
Author(s):  
Ade Jamarudin ◽  
Ofa Ch Pudin

Ijarah is a contract on the transfer of goods or services with rewards instead. Ijarah based transactions with the displacement benefit (rights to), not transfer of ownership (property rights), there ijara financing translates as buying and selling services (wages hired), that take advantage of human power, there is also a translate lease, which take advantage of goods. Application ijarah growing financial institutions in the current Shari'ah is happening on the leasing company (financial institution based on Islamic teachings, as well as Islamic banking is one of the products in Islamic finance. Application ijarah emerging financial institutions shari'ah 'ah at the moment that is happening on the leasing company (financial institution based on Islamic teachings, as well as Islamic banking is one of the Islamic financing products). This research is a library research (library research) and field research (field research), and is descriptive, analytic and comparative. Data sources used in this study are sourced from primary and secondary data. Ijarah transactions are based on the transfer of benefits (use rights), not the transfer of ownership (ownership rights), some translate ijarah financing as the sale and purchase of services (wage wages), i.e., taking the benefits of human labor


Author(s):  
Fitrotu Aini

ABSTRACTHajj as a great symbol of worship. Hajj is the fifth pillar of Islam which is mandatory for every Muslim who are able to da it in accordance with the legal requirement of pilgrimage. One of the legal conditions of Hajj is the capability, capable to cover the cost of the hajj and the family left behind. Panin Bank Dubai Sharia Bank was established based on the regulation of Limited Company No. 12 dated January 8, 1972 by Moeslim Dalidd, a notary in Malang. PT. Bank Panin Dubai Syariah Tbk has been legalized by the Financial Services Authority ("OJK"), in accordance with a copy of the policy of the Board of Commissioners of OJK No. Kep-29 / D.03 / 2016 on July 26, 2016.Therefore, through this research, the writer wants to understand: (1) how is the practice of applying alternative financial agreement of hajj and umrah after the implementation of regulation made by ministry of religious affair No. 24 year 2016 at Panin Bank Dubai Syariah Surabaya branch? (2) What is the analysis of Islamic law on the practice of multilateral contract alternative application in this Bank? Therefore, this study is aimed to, firstly, understand and describe the application of alternative contracts to hajj and umrah after the regulation of Ministry of Religious Affairs No. 24 of 2016 in Panin Bank Dubai Sharia branch Surabaya, and to describe the analysis of Sharia Economic Law about the practice of applying alternative contract in the bank.The method used in this research is qualitative method. The research data are taken in natural situation in Panin Bank Dubai Syariah Surabaya. The data are taken during operational hours using case study approach. Are done through interview technique with the main participant, Assistant Manager 1, and document, archive, book, sample of registration, as secondary data source. The data are analyzed through 3 (three) data deduction, display data and ended with conclusion and verification.The results of the study indicate that the Panin Bank Dubai Sharia runs in accordance with the government regulation No. 24 year 2016 "BPS BPIH is prohibited from providing direct and indirect Hajj money service" including Hajj and Umrah services using various financing products and funds saving, funds collecting in the form of deposits, savings or other forms, using multi-service financing akad wadi'ah, with the savings of hajj services with initial minimum deposit of Rp500,000,and according to customers’ ability. Keywords: hajj, umrah, wadi'ah.


2019 ◽  
Author(s):  
Ali Geno Berutu

his Research proves that the implementation of Aceh Qanun No. 12, 13 and 14 Year 2003 on Khama r, M a i s i r , and Khalwat in Subulussalam is not completely worked well, because in addition to legal issues qanuns, most have efforts political consolidation of the central government and local government. This thesis supports and strengthens the conclusion Michail Buehrel in this article entitled “The Rise of Sharia by Laws in Indonesia District an Indication For Changing Patterns of Power Accumulation and Political Corruption ” (2008) who found the formulization of Islamic Law in the region is political consolidation instrument for exploring the local government, especially financially in building. Buehler did not even find a conservative movement in the imposition of Islamic Law in the area. This research also support M.B Hooker’s opinion in his work entitled Indonesian Syariah : Defining a National School of Islamic Law, (2008)which states that in legislative process of Islamic law in aceh. There are many obstacles and barriers , because the Sharia Law to be applied must necessarily correspond with the system national law, while the central government to add more breadth of autonomy for Aceh in the part of Islamic Law to legislate in the part of law qanuns jina>na>t . This thesis does not agree with the conclusion of Harold Crouch in his work The Recent Resurgence of Political Islam in Indonesia, “ Islam In Southeast Asi a: Analysing Recent Development” , ed. Anthony L. Smith, (Singapore: ISEAS, 2002) as saying that the barrage history of failure of Islamic parties in order to implement Islamic Law-making opportunities for the application of Islamic Law in Indonesia did not exist. Crouch’s opinion just say that the application of Islamic Law to be in the sense of establishing an Islamic State. Data obtained from field research (field research) with qualitative methods and approach the socio - legal - historical . The primary data of the document and the results wawancara and field observations. Primary data in the form of documents are: Law No. 44 In 1999, Law No. 18 of 2001, Law No. 11 In 2006, Qanun 5 In 2000, Qanun No. 12, 13, 14, 2003, Qanun 7 In 2013, Qanun 6 In 2014 and Qanun 8 Year 2014. The primary data in the form of interviews and observations sourced from: Office of Islamic Law (DSI), the Wilayatul Hisbah (WH), the Court Syar'iyah (MS), the Police, the Mufti Consultative Assembly (MPU), the Aceh Tradition Council (MAA). Secondary data in the form of: 1) the books on Islamic law, sociology and anthropology of law, the historical development of Islam in Indonesia; 2) journals and other scholarly works that examine the rules of Islamic law, the application of Islamic law, social and Community; 3) as well as other sources such relevant, scientific papers, websites, newspapers, magazines and others


Author(s):  
Heri Herdiawanto ◽  
Valina Singka Subekti

This study examines Hamka's political thinking about Islam and the State in the Basic State debate that took place in the Constituent Assembly 1956-1959. Hamka belongs to the basic group of defenders of the Islamic state with Mohammad Natsir in the Masyumi faction, fighting for Islamic law before other factions namely the Nationalists, Communists, Socialists, Catholics-Protestants and members of the Constituent Assembly who are not fractured. Specifically examines the issue of why Islam is fought for as a state basis by Hamka. and how Hamka thought about the relationship between Islam and the state. The research method used is a type of library research with literature studies or documents consisting of primary and secondary data and reinforced by interviews. The theory used in this study is the theory of religious relations (Islam) and the state. This study found the first, according to Hamka, the Islamic struggle as the basis of the state was as a continuation of the historical ideals of the Indonesian national movement. The second was found that the constituent debate was the repetition of Islamic and nationalist ideological debates in the formulation of the Jakarta Charter. Third, this study also found Hamka's view that the One and Only God Almighty means Tauhid or the concept of the Essence of Allah SWT. The implication of this research theory is to strengthen Islamic thinking legally formally, that is thinking that requires Islam formally plays a major role in state life. The conclusion is that Indonesian society is a heterogeneous society in terms of religion. This means that constitutionally the state recognizes the diversity of religions embraced by the Indonesian people and guarantees the freedom of every individual to embrace religion and realize the teachings he believes in all aspects of life. Hamka in the Constituent Assembly stated that the struggle to establish a state based on Islam rather than a secular state for Islamic groups was a continuation of the ideals of historical will.


2017 ◽  
Vol 4 (2) ◽  
pp. 98
Author(s):  
Fitri Purnamasari, Diding Rahmat Dan Gios Adhyaksa

AbstractThe author conducted this research with the background of the implementation of Mediation in Kuningan Religious Court in Kuningan. The purposes of writing this paper are to know how the Implementation on Divorce Settlement in Kuningan Religious Court and to know the factors that affect the success of mediation in the Kuningan Religious Court. The method used in this research is with empirical juridical approach using primary data and secondary data and data collection techniques are interviews, observation and literature study. The results of this research are the mediation arrangements set out in the Supreme Court Regulation (PERMA ) Number 1 Year 2016 about Mediation Procedures in Courts and more specifically stipulated in the Decree of the Chief Justice Number 108 / KMA / AK / VI / 2016 on Mediation Governance at the Court. Mediation is the means of dispute resolution through the negotiation process to obtain agreement of the Parties with the assistance of the Mediator. Mediator is a Judge or any other party who has a Mediator Certificate as a neutral party assisting Parties in the negotiation process to see possible dispute resolution without resorting to the disconnection or enforcement of a settlement. Its implementation has been regulated in Law Number 1 Year 1974 about concerning Marriage, Compilation of Islamic Law, and Supreme Court RegulationNumber 1 of 2016 concerning Mediation Procedure in Court. The conclusion of this thesis writing is Mediation which should be one of the alternative process of dispute settlement which can give greater access to justice to the parties in finding satisfactory dispute settlement and to fulfill the sense of justice, and become one of the effective instrument to overcome the problem of case buildup especially for the case Divorce, in the end has not been effectively implemented.Keywords: Mediation, Divorce, Marriage.�AbstrakPenulis melakukan penelitian ini dengan latar belakang yaitu bagaimana pelaksanaan Mediasi pada Pengadilan Agama Kuningan. Tujuan penulisan ini untuk mengetahui bagaimana Pelaksanaan pada Penyelesaian Perceraian di Pengadilan Agama Kuningan dan untuk mengetahui bagaimana faktor-faktor yang memepengaruhi keberhasilan mediasi di Pengadilan Agama Kuningan. Metode yang digunakan dalam penelitian ini adalah dengan pendekatan yuridis empiris dengan menggunakan data primer dan data sekunder serta alat pengumpulan data yang digunakan melalui wawancara, observasi dan studi pustaka. Hasil penelitian ini adalah pengaturan mediasi diatur dalam Peraturan Mahkamah Agung (PERMA) Nomor 1 Tahun 2016 tentang Prosedur Mediasi di Pengadilan dan lebih spesifik diatur dalam Keputusan Ketua Mahkamah Agung Nomor : 108/KMA/AK/VI/2016 tentang Tata Kelola Mediasi di Pengadilan. Mediasi adalah cara penyelesaian sengketa melalui proses perundingan untuk memperoleh kesepakatan Para Pihak dengan dibantu oleh Mediator. Mediator adalah Hakim atau pihak lain yang memiliki Sertifikat Mediator sebagai pihak netral yang membantu Para Pihak dalam proses perundingan guna mencari berbagai kemungkinan penyelesaian sengketa tanpa menggunakan cara memutus atau memaksakan sebuah penyelesaian. Pelaksanaannya telah di atur dalam Undang-Undang Nomor 1 Tahun 1974 tentang Perkwinan, Kompilasi Hukum Islam, dan Peraturan Mahkamah Agung Nomor 1 Tahun 2016 tentang Prosedur Mediasi di Pengadilan. Kesimpulan dari penulisan skripsi ini adalah Mediasi yang seharusnya menjadi salah satu alternatif proses penyelesaian sengketa yang dapat memberikan akses keadilan yang lebbesar kepada para pihak dalam menemukan penyelesaian sengketa yang memuaskan dan mmemenuhi rasa keadilan, serta menjadi salah satu instrumen efektif mengatasi masalah penumpukan perkara khususnya untuk perkara perceraian, pada akhirnya belum efektif dilaksanakan.Kata Kunci : Mediasi, Perceraian, Perdata


2020 ◽  
Vol 6 (7) ◽  
pp. 1521
Author(s):  
Basrowi Basrowi ◽  
Julianas Julianas

This study aims to describe the application of sharia principles in the implementation of fintech-based lending services. The method used in this study is descriptive qualitative research and literature. The data used is secondary data from various relevant and up to date literature. Based on the results of the analysis it can be concluded that accounts payable is an agreement between two parties giving money or goods to a second party to be utilized. In terms of engagement in accordance with Islamic law or according to sharia, contracts through information technology media still have to fulfill harmony and terms of contract. The contract scheme implemented by service providers includes the Wakalah bil Ujrah contract and the Musyarakah contract. In the field of muamalah known as the principle of Islamic law, namely the principle of skill or change. The terms of Ijab Qobul must describe the agreement of the parties to enter into the online debt agreement. To achieve this, it is necessary to apply the principles of Islamic engagement, sharia, into financial transactions and other businesses that are consistently related.Keywords: financial technology, sharia, principle


2017 ◽  
Vol 4 (2) ◽  
pp. 234
Author(s):  
Tubus Tubus

This paper aims to examine the making of the contents of wills examined from the point of view of Islamic law, in practice the reality in the lives of many people who have not heed the word basmallah as an incantation in the contents of the will for the followers of Islam. In this study using sociological juridical method, where the primary data obtained directly from field research, while secondary data obtained from the literature. The results obtained that the way of making the contents of the will and the absence of public legal awareness is optimal for the making of the contents of wills in accordance with Islamic law. And there are still weaknesses in the Making and Implementation of the contents of the current will, when the testament is oral, namely: The absence of the sacred intention or the noble intention of the collector must not necessarily occur; unsecured rights of the recipient, in the event of any problems of the future heirs of the pewasiat; there is a difficulty of proof in the absence of witnesses, when the will is brought before the Court. Law renewal in the making of the contents of the will in the presence of a notary in the perspective of Islamic law are: the reconstruction of its value, the Ideal Formation of the Will, the testament is done in writing witnessed by two witnesses and before the Notary. Ideal Construction Format of Testament Creation. The testament is written in the presence of two witnesses or in the form of a Deed or a Notary Deed. At the head of the will or the Deed or Notarial deed is included a sentence “Basmallah”.


2020 ◽  
Vol 5 (2) ◽  
pp. 202-225
Author(s):  
Nurul Istiani ◽  
Athoillah Islamy

This study aims to reveal the philosophical values of Islamic law in the three ethical codes of NetizMu Muhammadiyah. This research is a literature review. The type of Islamic legal research in this study is a philosophical normative Islamic law research with an Islamic legal philosophy approach. The primary data source of this research, namely the NetizMU Muhammadiyah code of ethics), and secondary data using various relevant scientific researches. The theory used is a systems philosophy approach in Islamic law initiated by Jasser Auda.. This study concludes that there are values ​​of Islamic law philosophy in the three NetizMU codes of ethics. First, the value of religious protection (hifz al-din) in the context of making the prophetic social values ​​of religion the main basis for the code of ethics for the use of social media. Second, the value of public benefit (al-maslahat al-ammah) in the code of ethics for the use of social media as a medium for humanization (amar makruf) and liberation (nahi munkar). Third, the value of intellectual protection (hifz al-'aql) in the context of a code of ethics limiting freedom of expression, both in the form of information and communication on social media.


2020 ◽  
Vol 22 (1) ◽  
pp. 25-48
Author(s):  
Sri Walny Rahayu ◽  
Widiya Fitrianda

Lagu-lagu tradisional Aceh merupakan bagian rezim hak cipta dan termasuk dalam ekspresi budaya tradisional masyarakat Aceh, kekayaan dan identitas bangsa. Untuk memajukan lagu-lagu tradisonal sebagai bagian kebudayaan Aceh, diperlukan langkah strategis melalui perlin-dungan, pengembangan, pemanfaatan, pembinaan untuk mewu-judkan masyarakat Aceh yang berdaulat secara politik, berdikari secara ekonomi, dan berkepribadian dalam Kebudayaan. Hal lainnya, lagu-lagu tradisional Aceh merupakan hak milik yang dapat beralih melalui warisan. Dalam praktiknya ahli waris pencipta lagu-lagu Aceh tidak memahami dan belum mendapatkan hak ekonominya  sebagai-mana diatur dalam Pasal 16 ayat (2) Undang-Undang Nomor 28 Tahun 2014 tentang Hak Cipta. Budaya masyarakat komunal berbeda pandang dengan filosofi konsep hak kekayaan Intelektual, bersifat eksklusif monopoli, dan lemahnya implementasi penegakan hukum hak cipta merupakan persoalan yang harus mendapat perhatian pemerintah di Aceh dalam melestarikan budaya tradisonalnya. Tujuan penulisan menjelaskan perlindungan hukum terhadap lagu tradisional Aceh yang merupakan ekspresi budaya tradisional, menjelaskan perlindungan kepada ahli waris pencipta lagu Aceh melalui warisan menurut Undang-Undang Hak Cipta, Kitab Undang-undang Hukum Perdata, dan Hukum Islam menjelaskan kendala pengalihan pencipta hak ekonomi lagu-lagu tradisional Aceh melalui warisan. Jenis penelitian ini menggunakan data sekunder sebagai data utama, atau yang disebut penelitian yuridis normatif yang menguji norma hukum sebagai objek penelitian. Pendekatan yang digunakan adalah pendekatan konseptual dan pendekatan hukum komparatif. Tulisannya disajikan dalam bentuk analisis deskriptif. Aceh Traditional Cultural Expression and Its Inheritance Model Traditional Acehnese songs which are part of the copyright regimes are one part of the expression of traditional Acehnese culture, wealth and national identity. The promotion of Acehnese culture through traditional songs requires a strategic step through protection, development, utilization, and coaching to realize an Acehnese society that is politically sovereign, economically independent, and has a personality in culture. Other things Traditional Aceh songs are property rights that can be transferred through inheritance. In practice the heirs of Acehnese songs creators do not understand and obtain economic rights from the commercial use of Acehnese songs as stipulated in Article 16 paragraph (2) of Law Number 28 of 2014 concerning Copyright. The communal society's culture is different from the philosophy of the concept of intellectual property rights that is exclusively monopoly and the weak implementation of copyright law enforcement is an issue that must be gotten the attention of the government, especially in Aceh to preserve the traditional Acehnese culture which is the expression of its people. The purpose of writing is to explain the legal protection of traditional Acehnese songs which are expressions of Acehnese cultural identity, explain the protection to the heirs of the creators of Aceh songs through inheritance according to the 2014 UUHC, the Civil Code and Islamic Law and explain what constitutes obstacles to the transfer of rights economic creator of traditional Acehnese songs through inheritance. This type of research uses secondary data as the main data, or so-called normative juridical research that tests legal norms as the object of research. The approach used is the conceptual approach and comparative legal approach. This writing is presented in the form of descriptive analysis.


2021 ◽  
Vol 1 (1) ◽  
pp. 1-5
Author(s):  
Annisa Sherin Millenia ◽  
Maman Abdurrahman ◽  
Ilham Mujahid

Abstract. Research in this thesis is a type of descriptive research. The data used in this study is secondary data with primary legal material in the form of Al-Qur'anul Karim, Compilation of Islamic Law, Law No. 1 of 1974, Law No. 48 of 2009 on the Power of Justice. While the approach the author uses is juridical normative. The author uses data collection techniques or library research in accordance with PERMA No. 1 Year 2019 on The Administration of Cases and Hearings in the Court conducted electronically, however, the facts that occurred, the absence of the respondent at the court on the grounds that the existence of PSBB, although the call has been made officially and appropriately. In the examination of the Respondent from the attorney general the applicant submits an application to the panel of judges to continue the trial and examine the respondent via video call. The results of this study showed that the discretion of the Judge in deciding the divorce lawsuit through a video call in the Brass Religious Court, the judge prioritized the principle of justice and efficacy for the community, especially to the litigants. Abstrak. Penelitian dalam skripsi ini merupakan jenis penelitian deskriptif. Data yang digunakan dalam penelitian ini adalah data sekunder dengan bahan hukum primer berupa Al-Qur’anul Karim, Kompilasi Hukum Islam, Undang-undang No. 1 Tahun 1974, Undang-Undang No. 48 Tahun 2009 tentang Kekuasaan Kehakiman. Sementara pendekatan yang penulis gunakan adalah yuridis normatif. Penulis menggunakan teknik pengumpulan data atau library research Sesuai dengan PERMA No. 1 Tahun 2019 tentang Adminsitrasi Perkara dan Persidangan di Pengadilan dilakukan secara elektronik, Namun, Fakta yang terjadi, ketidakhadiran dari termohon di persidangan dengan alasan saat itu adanya PSBB, meskipun telah dilakukan panggilan secara resmi dan patut. Dalam pemeriksaan Termohon dari kuasa hukum pemohon mengajukan permohonan kepada majelis hakim untuk tetap melanjutkan persidangan dan memeriksa pihak termohon melalui video call. Hasil penelitian ini menunjukkan bahwa diskresi Hakim dalam memutus perkara gugatan cerai talak melalui video call di Pengadilan Agama Kuningan, hakim mengutamakan asas keadilan dan kemanfatan bagi masyarakat, khususnya kepada pihak yang berperkara.


Sign in / Sign up

Export Citation Format

Share Document