POSITION OF INTEREST BANK (TRI AYU RIWAYANI (11220035))

TRI AYU RIWAYANI (11220035)

POSITION OF INTEREST BANK

The existence illat diharamkannya usury law, according to the authors diharamkannya usury because of two thing :

a.       The existence of injustice, namely the disproportionate advantage. Actually it`s not a cause excess prohibition of usury, but rather because of the element of injustice.

b.      The exploitation of basic necessities or the gharar, uncertainty and speculation is hight,therefore,the interest is not prohibitied as long as it does not contain two element above.

Bank interest : the islmaic worldview

a.       Council of al-azhar`s islamic studies,cairo

Bank interest in all forms of loans is usury,which is forbidden. (DSI conference al-Azhar,Muharram,1385 H/May 1965 M)

b.      Interest rates prevailing in the conventional banking is usury, which is forbidden.(decision of the  9^th session no.6 Makkah 0.12 to 19 rajab,1406 H )

The conclusion is generally all people say that bank interest was usury, usury whereas it acts prohibited by Islam.

REFERENSI

Mohammad Hidayat.MBA. The Sharia Economic.(Jakarta : Katalog Dalam Terbitan,2010) .

Prof.DR.H. Rachmat Syafei,MA. Fiqh Muamalah.(Bandung: CV Pustaka Setia,2001).

Zainuddin Ali, Hukum Perbankan Syariah,( Jakarta: Sinar Grafika,2010)

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Multiservice in Bank Financing Wafirotul haifa (11220010)

Wafirotul haifa (11220010)

Multiservice in Bank Financing

Multiservice financing is financing products that provide funds in the form of use for anyone wearing or who needs to be versatile services/benefits required by the customer with murabaha or ijara contract. In general multiservice financing (cost of education, medicine, marriage, etc.) in Islamic banking in addition to using the Ijarah contract may also use Kafalah (DSN-MUI Fatwa No.44/DSN MUI/VII/2004 dated August 11, 2004). However, in this case using the ijara contract is more likely that the package cost of education, medicine, marriage, and others that are categorized in terms of wage-Ijarah hire, not the lease, ( a common phenomenon that occurs in Islamic banks using the ijara contract lease terms for multiservice financing. indication first, the bank does not do any work so that he had the right to receive wages that name, second, direct bank gives money kenasabah/direct liquefaction and strangely kerekening customers without power of attorney, but no goods are bought and sold ).

Contract made ​​for the financing multiservice : Akad Ijarah leasing transaction of goods or services between the owner (including the right to use the object ownership lease) with the tenants to get a return for goods or services that are rented . Understanding of Ijarah is a contract for the transfer of rights (benefits) of an item or service within a specific time through lease payments/wages, without being followed by the transfer of ownership of the goods themselves, the physical provision of leased commodity remains in the ownership of the lease and the only benefit is transferred to tenants. Something that can not be used without consuming can not be leased, such as money, food, fuel and so on . Only assets that are owned by the lease can be leased, unless permitted sub​​-lease (rental sublet the leased asset object) in the agreement that permitted by the lease. Akad Kafalah Transactions pledge given by the insurer (kafil) to third parties/the insured (makful lahu) to meet the obligations of both parties (makful'anhu/ashil) .

Benefits for both parties, for example: For a Bank as one of the funds in order to provide services to customers. As for products through bank multiservice Shari'ah get easily manage liquidity, due to channel financing to meet customers' needs for services is justified by Shariah. whereas, For the Customer to obtain fulfillment services such as education and health and other services are justified by Sharia. As where the source and the need for customers to specific services such as education and health and other services are justified to shariah.

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Discounts in Murabahah Wafirotul haifa (11220010)

Wafirotul haifa (11220010)

Discounts in Murabahah

Discount or diskoto is an act of reduction or withholding of a rough estimate of the amount or value of the goods. In trade terms, the cuts made ​​to banyaran prematurely or to be paid directly on an account, any cuts or reduction of the normal value or price. It is worth mentioning as a buy-sell trade note-notes. When a banker makes a memorandum discount equivalent to the value of the currency, that person bought it at once with a smaller amount of the face value, in other words, people buy with the current price. This is a trade with two of the currency.

Murabahah is a sale where prices and profits was agreed between seller and buyer. While the applications in financial institutions on asset side, murabahah conducted among bank customers as buyers and as sellers at a price agreed upon at the beginning and profits. On the liability side murabahah deposit is applied to the fund devoted to financing murabahah alone. Thus, from the definition of financial institutions, namely Murabahah contract of sale where goods are bought and sold is delivered immediately, moderate price ( principal and profit margin agreed upon) the goods are paid in a lump sum in the future ( deferred lump sum payment).

Then discounted in a murabahah sale by the piece haraga from the seller to the buyer the original item price is higher at the beginning and then get a discount then the price is lower than the previous price. The murabahah is discounted in price reductions or revenue of any kind obtained by the financial institution to shariah as the buyer of the supplier. It could also discounts available at this time that of the self-service, modern market, and there are other discounts in the sale (murabahah) .

So for short, is a murabaha contract discounts in buying and selling goods at the price stated with agreed profit earned by the seller and the buyer. This contract is a natural form of certainty contracts, because the murabaha determine how profits are to be obtained. So in this case also the seller earns a profit, although there are discounts or rebates in price. Discount on the buyer received the goods after the murabaha contract agreed to be treated in accordance with the agreement in the contract. If the contract is not set then the discount sellers are entitled.

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Business Trusts Wafirotul haifa (11220010)

Wafirotul Haifa (11220010)

Business Trusts

In essence, the activities of a bank is not more than a broker. Meant as an intermediary party surplus funds to be invested in the party who need funds. For the bank would receive margin. Conventionally, only the bank's activities include deposit tanking, credit granting and credit exchange. Banks also do business outside of conventional activities. Usually has a direct correlation with the level of bank keagresif. Unconventional activities is then accepted as a business bank with little restriction, such as credit card activity, remittance, and others. some unconventional activities that have not been accepted by the law or are still controversial, or received extremely limited, such as leasing, purchase of shares of other companies, and capital markets activities.

There are also some activities that are highly vulnerable to the doctrine prident banking is trust activities. In Indonesia, the activities of the trust is not so well known, this activity known abroad has long been developing. With this trust activities, a number of properties managed by the bank and customers invested properly, and business trusts seen as unconventional activities of the bank, because it could not be covered by the deposit-taking, credit granting credit or exchange. Business trusts are usually categorized as: 1) personal trust which is the asset management of individual customers with which the title of assets submitted by the individual to the banks, 2) corporate trusts, including dividend payments, an issue of shares and pension funds, 3) agency account management is a management assets of individual customers are not left his title to the bank.

Trust in business activities often include: a) receive/paying asset, b) as an agent of the business transactions, collect rents, dividends or bill, c) a liquidator or forgiveness of property incompetent people do, d) perform other incidental power. Strict limits typically required for trust business, so do not be fatal both for the game itself as well as for bank customers. As a basic signs commonly used theory prudent man rule. With the theory of god father like this, the bank as trustee must manage as a wise man with all the prudence, as if that pertinent manage its own assets. In classical jurisprudence is often termed as the "father of good housekeeping".

 

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Islamic Rural Banks Wafirotul haifa (11220010)

Islamic Rural Banks

wafirotul haifa (11220010)

Rural banks under banking law number 7 of 1992, is a financial institution that accepts deposits only in the form of savings deposits and/or other equivalent forms of it and distribute funds as BPR effort. While the banking law number 10 of 1998, stated that BPR is a financial institution that will conduct its operations in conventional or sharia. 

BPR implementation conducting business based on Sharia principles in turn governed by Indonesian bank director decree number 32/36/KEP/DIR/1999 dated 12 May 1999 concerning rural banks based on Islamic principles. In this case, technically BPR can be interpreted as an Islamic financial institution as conventional rural banks, whose operations using the principles of sharia. 

The desired destination with the establishment of sharia rural banks are: 

1. Improve the economic welfare of the people of Islam, especially the economically weak people who normally live in rural areas. 

2. Add jobs, especially at the district level, so as to reduce urbanization. 

3. Fostering a spirit of brotherhood Islamiyah through economic activity mastermind order to increase income per capita towards an adequate quality of life. 

To achieve the goal operationalization of the Islamic rural banks required strategic operational as follows: 

 1. BPR sharia is not waiting for the arrival demand facilities, but are inactive with dissemination / research to businesses that need help small additional capital, so it has good business prospects. 

 2. BPR sharia has the type of business that its turnaround time by prioritizing short-term medium-and small-scale enterprises. 

3. BPR study sharia market share, the degree of saturation and the level of competitive products that will be financing. 

 In an effort mobilization of public funds , Islamic rural banks to provide financial services in a variety of forms, including : 

1. deposits amanah called the trustee savings because the agreement form is wadiah , the deposit is not at risk . However, the bank will give you a bonus of sharing profits through bank financing to customers. 

2. savings deposits In the savings bank savings received from customers in the form of free savings . While the contract and followed by the bank and its customers in the form of wadiah. Deposits for these customers do not bear the risk of loss, and give bonuses to customers.

 3. Wadiah mudharabah deposits In this product the bank accepts deposits from customers. Contract that can be done in the form wadiah and can also form mudharabah. Normally the deposit period is 1, 2, 6, 12 months and beyond as a form of capital ( provisional ). 

The fund mobilization facilities, can also be used to leave alms, donation, charity, pilgrimage saving, saving sacrifice, aqiqah savings, saving for education, saving the owner of the vehicle, saving homeowners, it can even be used for day care facilities funds mosques, Islamic funds, foundations and others.

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Principles of Islamic Banking

What is an Islamic Bank?

There is no standard way of defining what an Islamic bank is, but broadly speaking an "Islamic bank is an institution that mobilises financial resources and invests them in an attempt to achieve predetermined islamically -acceptable social and financial objectives. Both mobilisation and investment of funds should be conducted in accordance with the principles of Islamic Shari'a".  

  1- Prohibition of Interest or Usury

The principles of Islamic finance are established in the Qur'an, which Muslims believe are the exact Words of God as revealed to the Prophet Mohammed. These Islamic principles of finance can be narrowed down to four individual concepts.

The first and most important concept is that both the charging and the receiving of interest is strictly forbidden. This is commonly known as Riba1 or Usury. Money, on its own, may not generate profits. When Riba infects an entire economy, it jeopardises the well-being of everyone living in that society. When investors are more concerned with rates of interest and guaranteed returns than they are with the uses to which money is put, the results can only be negative.

2- Ethical Standards

The second guiding principle concerns the ethical standards. When Muslims invest their money in something, it is their religious duty to ensure that what they invest in is good and wholesome. It is for this reason that Islamic investing includes serious consideration of the business to be invested in, its policies, the products it produces, the services it provides, and the impact that these have on society and the environment. In other words, Muslims must take a close look at the business they are about to become involved in. In all facets of the financial system, Islam has certain rules, certain regulations as to how Muslims should go about participating in these activities.

3- Moral and Social Values

The third guiding principle concerns moral and social values. The Qur'an calls on all its adherents to care for and support the poor and destitute. Islamic financial institutions are expected to provide special services to those in need. This is not confined to mere charitable donations but has also been institutionalised in the industry in the form of profit-free loans or Al Quard Al Hasan. An Islamic bank's business includes certain social projects, as well as charitable donations. Islamic banks provide profit-free loans. For example, if an individual needs to go to hospital or wants to go to university, we give what is called Quard Al Hasan. This QuardHasan is normally given for a short period of one year and the Islamic bank does not charge anything for that.

4- Liability and Business Risk

The final principle concerns the overarching concept of fairness, the idea that all parties concerned should both share in the risk and profit of any endeavor. To be entitled to a return, a provider of finance must either accept business risk or provide some service such as supplying an asset, otherwise the financier is, from a Sharia'a point of view, not only an economic parasite but also a sinner.

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