Agreement of Hire Purchase Islamic Perspective

By: Wa'idatul Hasanah (11220009)

Agreement of Hire Purchase Islamic Perspective

It said a hire purchase agreement because originally it was a form of lease agreement, but then it is terminated with saling transaction. This hire purchase agreement is binding character on the parties since the beginning of the agreement. In the Islamic contract law that lease agreement is different with the sale agreement. Both are forms of nominat agreement established the name and legal status in Fiqh Muamalah. Because there are differences between the pillars and conditions, then the implementation both of agreements must be separated.

Islamic contract law offers any form of hire purchase agreement based on Islamic principles which known as Ijarah Muntahiya Bi Tamlik (IMBT). The meaning of IMBT is lease between the owner of leased objects with lesse to get reward over the leased objects with the option to transfer ownership of the leased object to the sale or grant at certain time according to the contract rent. In IMBT, alienation of the goods occurs in one of two ways as follows:

1. The lessor promise to sell the leased goods at the end of the lease
2. The lessor promise to donate the leased goods at the end of the lease

REFERENCE:
S, Burhanuddin. 2009. Contract Sharia Law. Yogyakarta: BPFE
Djamil, Fathurrahman. 2012. Application of the Law of Treaties Transactions in Islamic Financial Institutions. Jakarta: Sinar Grafika

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Franchise

Franchise is a method for doing business, which is a method to market your product or service to the community. Furthermore mentioned that franchise can be defined as a system of distribution or marketing of goods and services, where a parent company (franchisor) gives to individuals/companies and other small and medium-scale (franchisee), privileges to execute a certain business system in a manner that is prescribed, for a certain time, in a specific place.

Basic elements of franchise are :

The parties had a franchise called the franchisor's business.

The business carry out its so-called franchisee.

The existence of a business franchise itself

The Government should keep an eye on the existence of this franchise since aims to provide legal protection and legal certainty in order for each party to feel safe and comfortable in the running of the business particularly involved in this franchise business.

A franchise contract usually States that the independent contractor is the franchise and not agents or employees of the franchisor. So the parent company could cancel the franchise, when franchisees in violation of requirements in the agreement. In this regard, in doing business in the community should be more thorough. And in marketing and distributing an item must be done in a way that is lawful.

Munir Fuady, Pengantar Hukum Bisnis, PT. Citra Aditya Bakti, Bandung, 2005,

Ridwan Khairandy, Perjanjian Franchise Sebagai Sarana Alih Teknologi, Pusat Studi Hukum UII Yogyakarta bekerjasama dengan yayasan Klinik Haki Jakarta, 2000,

Name : Nikmatul rokhmah

Nim : 11220003

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Sharia bonds mudharabah

Sharia bonds mudharabah is sharia bonds which is based on calneh mudharabah. Bonds is instrument investment sharia form of securities long-term based on sharia principle issued by a corporation mudharib ( as ) to investors ( as shahib al maal ) with the aim financing of projects company, then its profits distributed periodically to investors prosentase according to the agreed when calneh ( the bases profit-loss sharing ). In this case investors get profit sharing corresponding large as prosentase an agreed, and if get loss it will bear losses would together, not imposes either people.

Islamic bonds have developed enough in the country based on research results in some applications. But the problem is still growing in the community such as the lack of socialization and understanding more about this Islamic bonds still be barriers to its development.

The basic law mudharabah sharia bonds is present in Quran al- maidah paragraph 1: means the people believing fill settlements it. And also present AL-Quran in surah Luqman number 34 that means, and no one who can know with certainty  what would afforded tomorrow.

The purpose of issuance of bonds is as follows:

extending the base source of financing for budget the state

encourages the development of financial markets sharia

Develop alternative investment instrument

optimize the utilization of goods belonging to the country

Funds utilizing society that has not caught by a system of conventional banks

Zainul Arifin, Dasar-Dasar Manajemen Bank Syari’ah, Alvabet, Jakarta, 2003

Huda, Nurul dkk.2008. Investasi pada Pasar Modal Syariah.Jakarta : Kencana

 name : nikmatul rokhmah
nim : 11220003

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