Sale and purchase of goods with the contract ordering sharia in Islamic banks

Name               : Baerin Oktaviani (11220012)

Sale and purchase of goods with the contract ordering sharia in Islamic banks

Salam is a sale and purchase contract in Islamic banks, it is well known that one of the contract or buying and selling goods in Islamic banking is done by placing an order with certain conditions and payment is made in cash called salam contract.

Salam is also called the parallel salam, which means implementing two Ba'i as-salam transaction between banks and between banks and customers and suppliers (suppliers) or a third party is a stimulant.[1] Salam financing is the provision of funds or bills that can be equated with that of buying and selling goods with orders paid with cash and full advance by mutual agreement or contract between the bank and its customers to meet the obligations under the contract.

Salam contract usually applies to the sale of the object in the field of agribusiness, such as rice, wheat, sugar cane and others. So that in principle the concept of salam transaction intended for buying and selling goods that are not produced. In other words, salam are ordering goods whose specifications have been agreed and the price is paid in cash in front (advance payment) while delivery of the goods ordered be done later.[2]

So that the transaction could also ordering through Islamic banks without having to suppliers in advance, greetings contract aims to provide services to the customers on the product by ordering goods that Islamic banks and Islamic principles and avoid any kind of fraud against ordering goods for the purpose working capital and for consumption.

---

[1] Muhammad Syafi’i Anthonio, Bank Syariah dari Teori ke Praktek. (Jakarta: Gema Insani. 2001) Hlm:110

[2] Irma Devita Purnamasari, Suswinarno, Akad Syariah. Bandung:PT Mizan Pustaka.2011.hlm:56

Read More

Sharia Charge Card

SHARIA CHARGE CARD

Charge Card is a type of credit card that can be used as means of payment transaction / card service.licencee have to pay the entire bill in full at the end of the month or next month with or without the cost burden of unpaid addition. if oenuh the card holders will be subject to fines. and this card is a plastic card called biayasa, this card has a lot of functions for using the card does not have to pay large amounts of money in da kehilanagn risks can be minimized. because its function is vital that financial companies issuing these cards to replace conventional maney bank.at make use of the card transactions will be charged interest at the time the customer makes the lowest opembayaran.pembayaran kewajiabn cardholder who is to be paid before the due date with the rest of the bill is paid installments and subject to the savings of the credit balance.
Sharia Benefits Charge Card
1. For Islamic Bank charge card products useful to gain customer loyalty and profits dai fees charged to card holders
2. Islamic product for customer convenience charge card giving out the security and convenience in conducting transactions and cash withdrawals.
Risk
1. Financing risks in terms of the credit card holder is unable to settle its obligations
2. Operational risks associated with the possibility of billing errors
3. risks related laws are not criminal counterfeiting or piracy card

Read More

LETTER OF CREDIT (L / C)

LETTER OF CREDIT (L / C)

Wakalah, contract also applied in import transactions made by customers, which is known as transaction import letter of credit (L / C imports). L / C is the import statement shall pay to the exporter (beneficiary), published by the Islamic bank (issuing bank) at the request of or for the benefit of importers to the fulfillment of certain requirements in accordance with Islamic principles. In general, facilities or services of L / C is given by the bank to customers in order to facilitate and expedite the buying and selling of goods, especially related to exports and imports. If the bank issuing the L / C to the customer, it means bank guarantee would pay a certain amount to the other party at the request of the customer.
Accordance with DSN Number 34/DSN-MUI/IX/2002 on Letter of Credit (L / C) that Sharia Import L / C imports allowed under sharia implementation using contract-contract wakalah bil ujrah, qardh, murabaha, salam / istishna ', mudaraba, Musharaka and hawalah. In the L / C import sharia-based wakalah bil ujrah, Islamic banks act as representatives and importers as well as the guarantor of the payment as well as muwakkil customers. As a representative of the customer, Islamic banks have to implement all the things that have been delegated to him and as muwakkil customer must specify the matters delegated to the bank, so that everything becomes clear and no gharar. However, before the delegate to obtain travel documents and payment of import transactions, customer (muwakkil) must have funds in the bank for payment of the price of imported goods. If the customer does not have the funds in Islamic banks concerned for payment of the price of imported goods, Islamic banks should provide bailout funds for interest payments and for it to be treated as funds qardh, murabaha financing by the importer, or working capital financing (Musharaka) to importers .
From transaction import L / C sharia, banks get rewarded (ujrah) or in the form of profit margin (in terms of using the sale and purchase agreement) or for the results. As for customers, obtain payment settlement services and / or guarantees and acceptances that support activities in international trade. Basically the risk of transaction L / C for import sharia bank is financing risk (credit risk) in terms of customer (importer) does not pay the bills completion of L / C. other than that, there is a liquidity risk in banks having difficulty obtaining the required type of currency at the time and reputational risk in the bank is unable to meet the terms of the commitment required. As for the other risks associated with the reliability of information technology management (operational risk) and risk that accompany contract granting the L / C, for example, murabaha contract in the purchase of imported goods.

Read More