Islamic banking

Islamic banking

Islamic banking  is banking or banking activity that is consistent with the principles of Syariah Law and its practical application through the development of Islamic Ekonomics Sharia prohibits the fixed or floating payment or acceptance of specific interest or fees (known as riba or usury) for loans of money. Investing in businesses that provide goods or services considered contrary to Islamic principles is also Haraam ("sinful and prohibited"). Although these Principles have been applied in varying degrees by historical Islamic economies due to lack of Islamic practice, only in the late 20th century were a number of Islamic banks formed to apply these principles to private or semi-private commercial institutions within the Muslim community.

Referensi

·         Djuwaini, Dimiyauddin. 2008. Pengantar Fiqih Muamalah. Yogyakarta: Pustaka Pelajar

·         DewiGemala, Wirdyaningsih, danBarlintiYeni Salma, HukumPerikatan Islam Di Indonesia. Jakarta: KencanaPrenada Media Group. 2006.

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Islamic banking products

Islamic banking products

Some of the product and services provided by the Sharia-based banks, among others:

deposit

• al-Wadiah (custody services), is the custody of funds where the depositor can withdraw funds at any time. With the system wadiah Bank is not obligated, but are allowed to give bonuses to customers. Bank Muamalat Indonesia-Shahibul Maal.
• Mudaraba deposits, customers save money in the bank within the time frame specified. Advantages of investing the bank's customer funds will be shared between the bank and the customer with a certain profit sharing ratio.

For results

• Al- Musharakah (Joint Venture), this concept was applied to the model of partnership or joint venture. Benefits achieved will be shared in an agreed ratio while losses will be shared based on the ratio of equity owned by each party. The fundamental difference is that in the mudaraba concept is no interference management mudharabah management while there is no interference

·         Al-Mudharabah is an agreement between a provider of capital to entrepreneurs. Any benefits achieved will be divided according to certain agreed ratios. The risk of loss is borne fully by the Bank unless the losses caused by mismanagement, negligence and irregularities such as misuse of the customer, fraud and abuse.

• Al-Muzara’ah the banks provide financing to clients who are engaged in agricultural / plantation on the basis of the results of the harvest[1].

• Al-mushaqah is a more simple form of muzara'ah, where the customer is only responsible for penyiramaan and maintenance, and in return customers are entitled to a certain ratio of the crop.

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[1] Djuwaini, Dimiyauddin. 2008. Pengantar Fiqih Muamalah. Yogyakarta: Pustaka Pelajar.

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PROHIBITED TRANSACTIONS IN CAPITAL MARKET

PROHIBITED TRANSACTIONS IN CAPITAL MARKET

Transactions muamalah built on the principle beneficiaries. Personality 'will not prohibit the transaction unless there is a form of tyranny elements in it, such as usury, hoarding (ihtikar), tadlis (fraud), maisyir, gharar, as described in the hadith of the Prophet:

عن جابر رضي الله عنه قال: لعن رسول الله صلى الله عليه وسلم اكل الربا وموكله, وكاتبه, وشاهديه, وقال: هم سواء ( رواه مسلم و بخاري )

From Jabir ra, he said: Allah cursed the eater of usury, his deputy, the author and two witnesses. (Narrated by Bukhari and Muslim).

Types of transactions that are prohibited in the capital markets, among others, there are some kinds of fraud, market manipulation, and insider trading. Law No.18 of 1995 on the capital markets is expressly prohibited transactions or securities trading activities that contain elements of fraud, market manipulation, and insider trading. The ban is designed to protect the interests of investors or public investors, as well as to ensure that the process of securities trading can take place in an honest and healthy so that public confidence in the Indonesian capital market industry can be maintained and last a long time.

Referensi

§  Djuwaini, Dimiyauddin. 2008. Pengantar Fiqih Muamalah. Yogyakarta: Pustaka Pelajar.

§  Serfianto, Hariyani Iswi. 2010. Buku Pintar Hukum Bisnis Pasar Modal. Jakarta selatan: Transmedia Pustaka.

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Multi level marketing (MLM)

Multi level marketing (MLM)

Multi level marketing ( MLM ) in English is multi means a lot, means tiered or terracd levels, and marketing mens markrting.

Multi-level marketing is a marketing tiered lot. Called multi-level, because it is an organization of distributors who carry a lot of sales are tiered or terraced.

Law of MLM is permissible (allowed), so long as it does not contain the following elements, Riba, Gharar or uncertainty, or adverse dharar / oppressing others, danJahalah or MLM is not transparan.Karena trade, therefore also must meet the legitimate requirement engagement. This mechanism is operating on an MLM distributor can invite others to participate as well as distributors. Then the other person can also invite anyone else to join. And so on, all are invited and join a group of independent distributors who invites someone else to level indefinitely.

Referensi

·         DewiGemala, Wirdyaningsih, danBarlintiYeni Salma, HukumPerikatan Islam Di Indonesia. Jakarta: KencanaPrenada Media Group. 2006.

·         Burhanuddin, HukumKontrakSyariah. Yogyakarta: BPFE-Yogyakarta.2009.

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