EXPLORING THE PHILOSOPHY OF SALAM, MURABAHAH, AND ISTISHNA AGREEMENTS IN SHARIA ECONOMIC LAW: PRODUCER PROTECTION AND ECONOMIC GROWTH
Keywords:
Salam, Murabahah, Istishna, Producer Protection, Economic Growth
Abstract
This research investigates the basic ideas behind Salam, Murabahah, and Istishna contracts in Islamic economic law, as well as how they can be used to protect producers and promote economic expansion. The research reveals that Salam, Murabahah, and Istishna contracts can protect producers through prepayment mechanisms, transparency of costs and profits, and flexibility in fulfilling customer wishes. This research was conducted through an analysis of existing literature. This protection can impact economic development by assisting producers in increasing their output, encouraging innovation, and improving overall efficiency. The findings of this study significantly affect the application of Islamic economic theory and public policy, and they call for further investigation into how Salam, Murabahah, and Istishna contracts can be utilized in real-world situations.
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References
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Warde, I. (2000). Islamic finance in the global economy. Edinburgh University Press.
Wilson, R. (2014). Islamic Economics: A Survey of the Literature. Business Ethics: A European Review, 23(4), 471-485.
Zaman, R., & Movassaghi, H. (2011). Islamic Economics and the Final Financial Crisis. American Journal of Islamic Social Sciences, 28(4), 1-31.
Abd. Hakim. Atang. 2011. Fiqih Perbankan Syari’ah, Transformasi Fiqh Muamalah ke Dalam Perundang-undangan Indonesia. Refika Aditama. Bandung.
Abdullah, M. & Chee, L. (2015). The Impact of Shariah-Compliant Investments on Economic Growth: Empirical Evidence from Malaysia. Journal of Islamic Finance, 4(2), 13-20.
Ahmed, H. (2011). Product development in Islamic banks. Edinburgh University Press. Siddiqi, M.N. (2012). Islamic banking and finance in theory and practice: A survey of state of the art. Islamic Economic Studies, 13(2), 1-48.
Al-Aidaros, A., Idris, K., & Shamsudin, F. (2013). Ethics and ethical theories from an Islamic perspective. International Journal of Islamic Thought, 4, 1-13.
Anonimus. 2005. Kamus Besar Bahasa Indonesia (KBBI). Ed. Ketiga. Departemen Pendidikan Nasional. Balai Pustaka.
Anwar. Syamsul (b). 2007. Studi Hukum Islam Kontemporer. RM. Books. Jakarta. _. (c). 2007. Hukum Perjanjian Syariah; Studi tentang Teori Akad dalam Fiqh Muamalat. RajaGrafindo Persada. Jakarta.
Ariff, M. (2014). Islamic banking: a synthesis of theological and financial analyses. International Journal of Social Economics.
Ariff, M., & Iqbal, M. (2011). The Foundations of Islamic Banking: Theory, Practice and Education. Edward Elgar Publishing.
Ariff, M., & Rosly, S.A. (2011). Islamic banking in Malaysia: Unchartered waters. Asian Economic Policy Review, 6(2), 301-319.
Ash-Shawi. Shalah dan Abdullah al-Mushlih. 2004. Fikih Ekonomi Keuangan Islam [Ma La Yasa’ at-Tajira Jahluhu]. Terjemahan Abu Umar Basyir. Darul Haq. Jakarta.
Ayub, M. (2015). Understanding Islamic Finance.
Az-zuhaili. Wahbah. 2005. Al-Fiqh al-Islami Wa Adillatuh. Dar al-Fikri. Damaskus.
Bank Syariah Mandiri. (2014). Laporan Tahunan 2014. Bank Syariah Mandiri.
Barkatullah. Abdul Halim. 2010. Hak-hak Konsumen. Nusa Media. Bandung. http://www.antaranews.com/cari.php?k=antara+ne +ws%2C+BI+akui+perbankan+syariah+kek urangan+SDM.mht%2C+februari%2C+2008.
Beck, T., Demirgüç-Kunt, A., & Merrouche, O. (2013). Islamic vs. conventional banking: Business model, efficiency and stability. Journal of Banking & Finance, 37(2), 433-447.
Chapra, M.U. (2014). Morality and Justice in Islamic Economics and Finance. Edward Elgar Publishing.
Cizakca, M. (2011). Islamic capitalism and finance: Origins, evolution and the future. Edward Elgar Publishing.
Dar, H., & Presley, J. (2000). Lack of profit loss sharing in Islamic banking: Management and control imbalances. International Journal of Islamic Financial Services, 2(2), 3-18.
El-Gamal, M.A. (2006). Islamic finance: Law, economics, and practice. Cambridge University Press.
Farooq, M. O. (2012). Self-interest, Homo Islamicus and some behavioral assumptions in Islamic economics and finance. International Journal of Excellence in Islamic Banking and Finance, 2(1), 1-29.
Grais, W., & Pellegrini, M. (2006). Corporate governance and Shariah compliance in institutions offering Islamic financial services. World Bank Policy Research Working Paper, (4054).
Hassan, M.K., & Shahid, A.I. (2013). Management of Risks in Murabaha Financing for the International Trade: Implications for the Growth of Islamic Finance. International Journal of Business and Social Research, 3(5), 210-221.
http://www.bi.go.id/web/id/perbankan/arsitektur+p erbankan+indonesia/.
Hussain, M., Shahzad, A., & Mahmood, S. (2016). Islamic Banking and Economic Growth: An Empirical Evidence from Qatar. Journal of Applied Economics and Business Research, 6(1), 34-45.
Iqbal, Z., & Mirakhor, A. (2011). An introduction to Islamic finance: Theory and practice.
John Wiley & Sons. Khan, F. (2010). How 'Islamic' is Islamic banking? Journal of Economic Behavior & Organization, 76(3), 805-820.
Karim, R.A.A. (2010). Islamic banking: The lesson and challenges. International Review of Business Research Papers, 6(4), 168-177.
Khan, T., & Bhatti, M.I. (2008). Developments in Islamic banking: The case of Pakistan. Palgrave Macmillan.
Kuran, T. (2011). The long divergence: How Islamic law held back the Middle East. Princeton University Press.
Kusuma. Hilmanhadi. 1992. Bahasa Hukum. Alumni. Bandung.
Mertokusumo. Sudikno. 2002. Mengenal Hukum: Suatu Pengantar. Liberty. Yogyakarta.
Mukhlas. Oyo Sunaryo. 2011. Perkembangan Peradilan Islam dari Kahin di Jazirah Arab ke Peradilan Agama di Indonesia. Ghalia Indonesia. Bogor.
Peraturan Bank Indonesia Nomor: 7/46/PBI/2005 tentang Akad Penghimpunan dan Penyaluran Dana bagi Bank yang Melaksanakan Kegiatan Usaha Berdasarkan Prinsip Syariah.
Pramono. Nindyo. 2006. Bunga Rampai Hukum Bisnis Aktual. Citra Aditya Bakti. Bandung.
Rahman, Z. (2010). The role of ethics in Islamic banking. Managerial Finance, 36(10), 783-796.
Saeed. Abdullah. 1996. Islamic Banking and Interest: a Study of Prohibition of Riba and its Contemporary Interpretation. E.J Brill. Leiden.
Siddiqui, A. (2008). Financial contracts in Islamic law. Islamic Economic Studies, 15(1), 1-38.
Smith, J., & Rees, G. (2013). The Impact of Globalization on Economic Growth: The Case of Emerging Markets. International Journal of Economics and Finance, 5(3), 10-22.
Sumitro. Warkum. 2002. Asas-asas Perbankan Islam dan Lembaga-lembaga Terkait: BMI dan Takaful di Indonesia. RajaGrafindo Persada. Jakarta.
Undang-Undang Nomor 10 Tahun 1998 tentang Perubahan Undang-Undang Nomor 7 Tahun 1992 tentang Perbankan (Lembaran Negara Republik Indonesia Tahun 1998 Nomor 182).
Undang-Undang Nomor 21 Tahun 2008 tentang Perbankan Syariah Lembaran Negara Republik Indonesia Tahun 2008 Nomor 94.
Undang-Undang Nomor 30 Tahun 1999 tentang Arbitrase dan Alternatif Penyelesaian Sengketa (Lembaran Negara Republik Indonesia Tahun 1999 Nomor 138).
Undang-Undang Nomor 7 Tahun 1992 tentang Perbankan (Lembaran Negara Republik Indonesia Tahun 1992 Nomor 31).
Usmani. Maulana Taqi.”murabahah”. http://www.accountracy.com.pk/docs/islam_murabahah. Pdf.
Visser, H. (2013). Islamic finance: Principles and practice. Edward Elgar Publishing.
Vogel. Frank E. dan Samuel L. Hayes. 2007. Hukum Keuangan Islam: Konsep. Teori dan Praktik [Islamic Law and Finance: Religion. Risk and Return]. Terjemahan M. Sobirin Asnawi. dkk. Cet. Pertama. Nusa Media. Bandung.
Warde, I. (2000). Islamic finance in the global economy. Edinburgh University Press.
Wilson, R. (2014). Islamic Economics: A Survey of the Literature. Business Ethics: A European Review, 23(4), 471-485.
Zaman, R., & Movassaghi, H. (2011). Islamic Economics and the Final Financial Crisis. American Journal of Islamic Social Sciences, 28(4), 1-31.
Published
2023-12-07
How to Cite
Asmawi, Z. (2023). EXPLORING THE PHILOSOPHY OF SALAM, MURABAHAH, AND ISTISHNA AGREEMENTS IN SHARIA ECONOMIC LAW: PRODUCER PROTECTION AND ECONOMIC GROWTH. Jurnal Ilmu Hukum Tambun Bungai, 8(2), 356-370. https://doi.org/10.61394/jihtb.v8i2.268
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Articles
Copyright (c) 2023 Zaimmudin Asmawi
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