PHILOSOPHY OF ISLAMIC LAW (muamalah) ON ISLAMIC BANKING
by Iswahyudi
 |
| Islamic Banking |
PRELIMINARY
Philosophy or the basic philosophy
of Islamic banking refers to the teachings of Islam that is rooted in the
Qur'an, Alhadist and Al-Ijtihad. Islam teaches about the effort to achieve
happiness in this world and hereafter, to achieve spiritual and physical
happiness. This means in achieving the happiness of the world must do well in
order to achieve happiness hereafter.
Among them is the field muamalah
still refer to the principles of religious teachings as a bridge to happiness
hereafter. As in Islamic banking that adheres to the basic - basic muamalat
according to the Qur'an, Al Hadith and al ijtihad.
Tenets are provisions of law
governing matters relating to the way of life for human beings, such as buying
and selling, trading, renting, borrowing and lending, and so forth.
Shari'a is the law or regulation
specified Allah to His servants as contained in the Qur'an and hadith. Bank
Syariah Banking System which is the business activities and operations based on
Sharia.
Islamic banking is part of sharia
economy, where Islamic finance has become part of Muamalat (the relationship
between man and man). Therefore, Islamic banking can not be separated from al
Qur`an and Sunnah as a source of Islamic law. Islamic banking also can not be
separated from economic paradigm sharia.
Here are some of the sharia economic
paradigm:
1.
Tauhid. In the view
of Islam, one of the missions created human beings is to devote themselves to
Allah Subhanahu Wa Ta'ala, "And I did not create the jinn and mankind
except that they may serve Me" (51:56). This is the realization of self
Pengambaan monotheism servant to his Creator. Consequently, all economic
activities can be worth worship if it is intended to draw closer to Him.
2.
Allah Subhanahu Wa Ta`ala as an intrinsic property owners. The economic principle of sharia considers that Allah Subhanahu
Wa Ta'ala is the ultimate owner of the property. "To Allah belongs all
that is in the heavens and whatsoever is in the earth ..." (2: 284).
Humans only get the treasure of his surrogate, so how to earn and spend
treasure must also comply with the rules of the owner of intrinsic, ie Allah
Subhanahu Wa Ta'ala.
3.
Global and long-term vision.
Islamic economic teaches people to visionary far ahead and think of nature as a
whole. The teachings of Islam encourages his people to pursue the Hereafter
which is the long-term life, without forgetting the world: "And look at
what God has bestowed to you (happiness) in the Hereafter, and do not forget
bahagianmu of (enjoyment) world and do good (to others ) as Allah has done good
to you, and do not mischief on the earth. Allah loves not those who do mischief
"(28: 77). Message of Islam was revealed to Muhammad sallallaahu Alaihi Wa
Sallam also contains a blessing for the universe: "And We sent thee not, but
to (become) a mercy to the worlds" (23: 107). Thus in the time dimension,
the economic sharia consider the long-term effects, even up to life after world
(hereafter). While the dimensions of the area and scope, the economic benefits
of sharia should be felt not only by humans, but the universe.
4.
Justice. Allah
Subhanahu Wa Ta'ala has ordered do justice: "Indeed, Allah orders you
convey the message to those who deserve it, and (told you) if it establishes
the law among men that you assign to the fair" (4: 48). In fact, a
person's hatred of a people can not be left so that makes the person to be
unfair: "O ye who believe! Be ye so people who always uphold (the truth)
for Allah, bearing witness with justice. And do not let the hatred of a people,
encouraging you to justice. Apply just: that is next to piety. And fear Allah,
verily Allah is Aware of what you do "(5: 8).
5.
Noble morality. Islam
encourages the application of noble morality for every human being. even the
Prophet sallallaahu Alaihi Wa Sallam has stated that: "I was sent to
perfect noble morality" (HR. Malik). Including when they move in the
economy. Noble morality such as friendly, helpful, humble, trustworthy, honest
very sustain economic activity remains healthy. The best example is the
morality of the Prophet Muhammad sallallaahu Alaihi Wa Sallam, so that Allah
Subhanahu Wa Ta'ala praised him: "And verily, you are really great
virtuous character" (68: 4). Before being appointed as the Apostle,
Prophet Muhammad was trusted by his people, so it was given the title 'al-Amin'
(the trustworthy). As a result, he became a successful businessman.
6.
Brotherhood. Islam
considers that all believers are brothers: "The believers are indeed
brothers .." (49:10). The concept of fraternity teaches the believer to be
egalitarian, caring for one another and help each other. Islam also teaches
that differences in tribes and nations is not to be used as a contradiction,
but rather as a means to get to know and understand: "O mankind! We
created you from a male and a female and made you a nation - peoples and tribes
so that you know each other-know. "(49:13). (Http://mandirisyariah.co.id:
2014)
STUDY OF ISLAMIC BANKING
A.
Understanding Islamic Bank
Islamic banking or Islamic banking
is a banking system that was developed based on sharia (law) of Islam. Enterprises
creation of this system is constituted by a ban on the Islamic religion to
collect and borrow with interest, or so-called usury as well as a ban on
investment for businesses that are categorized haram (eg businesses associated
with the production of food / drink unclean, the media business is not Islamic,
etc. ), where this can not be guaranteed by the conventional banking system.
In general terms Bank Islam (Islamic
Bank) is a bank that operation adapted to the principles of Islamic law. Today
many the term given to refer to entities other than the term Islamic Bank
Islamic Bank itself, namely Bank No Interest (Interest-Free Bank), Bank Without
Riba (Lariba Bank) and Bank of Sharia (Shari'a Bank). As will be discussed
later, in Indonesia technically juridical mention Islamic Bank officially use
the term "Islamic Banking", or in full-called "Bank
Sharia".
B.
Function and Purpose Islamic Bank
The purpose of Islamic banks, among others, are:
1.
Implement
the teachings of Islam and to uphold the law of God in the Economy.
2.
Creating
a society of justice, distribution of welfare and prosperity in the economy,
and improve human life.
3.
Establishing
a life full of peace, happiness, peace and concern for fellow human beings,
respect and honor
4.
Achieving
a balance and harmony between private and public interests, the interests of
spiritual and material, as well as the interests of the world and the hereafter
5.
Achieve
and increase the values of human ubudiyah as His servants, and embody the
values mua`amalah fellow human beings in the norms and ethics.
The function of Islamic banks among other things, that:
1.
The
function of the Investment Manager
Islamic bank is an investment
manager of the fund owner (shahibul maal) from the funds raised (in banking is
commonly referred to depositors / savers), because of the size of the income
(profit sharing) received by the owner of the funds are highly dependent on
income earned Islamic banks manage funds mudharabah so highly dependent on the
skill, prudence, and professionalism of islamic banks.
This function can be seen in terms
of collection of funds of Islamic banks in collecting funds, particularly funds
mudaraba, acting as an investment manager in the sense that these funds should
be channeled to the distribution of productive, so that the funds raised should
be able to produce that result will be divided, with the owner of the funds ,
Even Islamic banks should not raise funds mudharabah if it can not distribute
these funds in a productive thing, because the results obtained will be kept
and distributed to the owners of more funding so that it will obviously be
detrimental to the owner of the funds that already exist.
2.
Function
Investor
In disbursement of funds both in
principle for the results (profit and loss sharing), the principle Ujroh (Ijara
and Ijara Muntahia bittamlik) and the principle of trading (murabaha, salam,
and regards parallel, istishna, and istishna parallel) Islamic banks function
as an investor as an owner of the funds , Therefore, as the owner of the funds
that the funds invested do with the principles that have been established and
does not violate sharia, embedded in the productive sectors and has very
minimal risk. Receiving income and asset quality were very well be an important
goal in the disbursement of funds, because the income received in the
distribution of this fund will be distributed to the owners of the funds
(depositors or savers mudaraba). So this function is closely related to the
function of Islamic banks as investment manager.
3. Social Function
The concept of Islamic banking
Islamic bank requires me-implemented social services, either through funds
qardh (benevolent loans), zakat, or social funds in accordance with the
teachings of Islam. Furthermore, the concept of Islamic banking also requires
Islamic banks play a role in the development of human resources and contribute
funds for the maintenance and development of the environment.
4.
Functions
Financial services (banking)
Islamic banks can also offer various
services to other financial-based wages (fee-based) in a representation or
rental contract. Examples warranty, wire transfer, L / C, and so on.
C.
Characteristics
of Islamic Banking
Syari'ah Bank has the following characteristics:
a.
In
Bank Shari'ah bank relationships with customers is a contractual relationship
(contract) between the investor fund owner (Shohibul maal) with less investor
fund manager (mudharib) work together to cooperate on productive and as the
profits are shared equitably (mutual investment as relationship). Thus it can
be avoided eskploitatif relationship between the bank and its customers or
otherwise between customers and banks.
b.
The
existence of prohibitions of certain business activities by the Shariah Bank
aimed at creating productive economic activities (prohibition accumulate wealth
(natural resources) controlled by a small portion of society and unproductive,
creating a fair economy (the business concept for the results and for risks) as
well as safeguarding the environment and uphold the moral (prohibition for
projects that damage the environment and not in accordance with moral values
such as hard miniman, gambling facilities and others.
c.
Bank
Syari'ah energy activities are more varied than the conventional banks, namely
the results of trading system, the system of leasing as well as providing other
services the extent not inconsistent with the values and principles of the
Shari'a.
D.
Principles of Islamic Banking
Sharia principles is the rule of
Islamic law based on the agreement between the bank and other parties to
deposit funds and / or financing of business activities, or other activities in
accordance with sharia.
Some of the principles / law adopted by the Islamic banking system,
among others:
o
Payment
for loans with a value different from the value of the loan with a
predetermined value is not allowed.
o
Donors
should contribute share profits and losses as a result of the results of
operations institutions borrow funds.
o
Islam
does not allow "make money from money". Money is only a medium of
exchange and not a commodity because it has no intrinsic value.
o
Elements
Gharar (uncertainty, speculation) is not allowed. Both sides must know well the
results they will get from a transaction.
o
Investments
should only be given to those businesses that are not prohibited in Islam.
Enterprises liquor instance should not be funded by the Islamic banking.
The principle of Islamic banking
will eventually bring benefit to the people for a promising balance economic
system. Further explained that the principles of Shariah is Islamic law based
on the rules of the agreement between the bank and other parties to keep it,
finance or other activities stated in accordance with the Shari'a. Based on the
formulation of the problem, the Bank of Shariah means the procedure of bank
operational procedures constituted with reference to the provisions of Islamic
Al-Quran and al-Hadith.
E.
Islamic Banking Services Products
Some products and services for
peminajaman others, provided by banks based on sharia, among others:
o
Mudhorobah,
is an agreement between the provider of capital to entrepreneurs. Each benefits
achieved will be divided according to certain agreed ratio. The risk of loss is
borne fully by the Bank except for losses caused by mismanagement, negligence
and irregularities party customers such as misappropriation, fraud and abuse.
o
Musyarokah
(Joint Venture), this concept is applied to the model of a partnership or joint
venture. The benefits achieved will be shared in an agreed ratio while losses
will be divided based on the ratio of equity owned by each party. The
fundamental difference with this concept of Mudharabah is in no management
interference management while mudaraba no intervention.
o
Murobahah,
namely the distribution of funds in the form of buying and selling. Banks will
buy needed goods and then resell the service user to the service user at
inflated prices determined in accordance bank profit margins, and service users
are allowed to goods. The installment of flats corresponding contract at the
beginning and the installment amount = cost plus an agreed margin. Examples:
home prices, 500 million, the bank margin / profit 100M bank, the borrowers
paid was 600 million and paid over an agreed period beginning between the Bank
and the Customer.
o
Takaful
(Islamic insurance)
As for the services for depositors in Islamic banks, among others,
as follows:
o
Wadi'ah
(daycare), is a fund where penitip care services can take these funds at any
time. With the system wadiah Bank is not obliged, but are permitted, to give a
bonus to customers.
o
Deposit
Mudhorobah, customers save money in the bank within a certain period of time.
The advantage of investing in customer funds by banks will be shared between
the bank and the customer with the ratio for a particular outcome.
F.
History of Islamic Banking
History of the World Islamic Banking
Islamic banking first appeared in
Egypt without frills Islam, because of concerns that the ruling regime would
see it as a fundamentalist movement. This effort pioneering leader Ahmad El
Najjar, taking the form of a savings bank based on profit sharing (profit
sharing) in the town of Mit Ghamr in 1963. This experiment lasted until 1967,
and then it was up 9 banks with a similar concept in Egypt. These banks, which
do not charge or receive interest, mostly investing in businesses directly
trade and industry in the form of a partnership and split the profits with
savers.
Still in the same country, in 1971,
Nasir Social Bank was established and declared itself as a commercial bank
interest-free. Although not mentioned in the deed of establishment references
to religion and the Islamic Shari'a.
Islamic Development Bank (IDB) was
then established in 1974 sponsored by the countries which are members of the
Organization of Islamic Conference, although the bank is the main
inter-governmental bank aimed at providing funds for development projects in
its member countries. IDB provides fee-based financial services and profit
sharing for these countries and explicitly declare themselves based on Islamic
sharia.
Across other countries in the 1970s,
a number of Islamic-based bank then appears. In the Middle East, among others
stood Dubai Islamic Bank (1975), Faisal Islamic Bank of Sudan (1977), Faisal
Islamic Bank of Egypt (1977) and Bahrain Islamic Bank (1979). He was
Asia-Pacific, Philippine Amanah Bank was established in 1973 by presidential
decree, and in Malaysia in 1983 stood Muslim Pilgrims Savings Corporation that
aims to help those who want to save for pilgrimage.
History of Bank Syariah Indonesia
In Indonesia, the pioneer of Islamic
banking is Bank Muamalat Indonesia. Established in 1991, the bank was initiated
by the Indonesian Ulema Council (MUI) and the Government and the support of the
Association of Indonesian Muslim Intellectuals (ICMI) and a Muslim businessman.
This bank was affected by the financial crisis in the late 90s that the equity
remains only a third of the initial capital. IDB then give an injection of
funds to banks in the period 1999-2002 and may rise up and make a profit. .Nowadays
Presence of Islamic banks in Indonesia have been set in the Act is law 10 of
1998 on the amendment of Law No. 7 of 1992 on Banking.
Until 2007 there were three
institutions of Islamic banks in Indonesia, Bank Muamalat Indonesia, Bank Mega
Syariah Bank Syariah Mandiridan. Meanwhile commercial banks already have
Islamic business units are 19 banks among the major banks such as Bank Negara
Indonesia (Persero) and Bank Rakyat Indonesia (Persero).
Islamic system has also been used by
the Rural Bank, today has grown 104 BPR Syariah.
Furthermore, until the enactment of
Law No. 10 of 1998 on the Amendment of Act No. 7 of 1992 concerning Banking,
BMI is the only commercial bank basing its operations on Islamic law in
Indonesia. Only after it was established several Islamic Bank of others, namely
Bank IFI open sharia branches on June 28, 1999, Bank Syariah Mandiri, which is
a conversion of the Bank Susila Bakti (BSB), a subsidiary of the Bank, as well
as the establishment of five new branches in the form of sharia branch of PT
Bank Negara Indonesia (Persero) Tbk. As of February 2000, registered at Bank
Indonesia banks that have applied for open Islamic branches, namely: Bank
Niaga, Bank BTN, Bank Mega, Bank BRI, Bank Bukopin, BPD Jabar and BPD Aceh.
Then in 2008 the Law on Islamic
banking direfisi namely Law No. 21 of 2008 concerning Islamic Banking.
G.
Islamic Banking Practice and Role Theory
Bank Syariah, theory, practice, and peranannaya in overcoming
stagnation, inflation and Economic Inequality is as follows:
1.
Riba
and Its Impact on Economy
Ribalah which is the heart of the
capitalist economy that makes the economy was destroyed because of the
structure itself. Hence, Islamic banks are formed and stood up for the banking
system and the economy becomes sacred or avoid riba and Islamic banks walked
and moved regulate Islamic financial and syar'i.
2.
Islamic
Financial Institutions
Islamic financial institutions are
certainly in the application of Islamic principles in the financial, and
stakeholders in Islamic financial institutions must run according to the rules
and properly start a branch of Islamic banks to the central bank commandeered
IB islamic bank or DPS Indonesian sharia supervisory board.
3.
Why
is the first bank that disyariahkan?
It is because the banking sector is the most strategic sectors.
This is because of the money supply (M2) for more than 10 years of being in
banking sector. Money circulating in the community is like blood in the human
body. Therefore, ideally, the banking sector had to be addressed and
disyariahkan.
4.
Improving
the Quality of Services and Bank Syariah
The Islamic bank efforts to improve the quality and service of
Islamic banks, namely: Increasing the role of sharia supervisory board (DPS),
priority should be done both on trade finance and equity, choice between Profit
Sharing and Revenue Sharing and Broad customer base strategy.
5. Theory and Policy Islamic Monetary System
The types of markets (market) in the micro economy, namely the
labor market, capital market, money market and commodities market. Mathematical
models also presented to give a comprehensive overview of the market which is a
micro capital.
The monetary system of Islam (Islamic finance) and the Islamic
banking system works on the basis of Islamic law (sharia). Theoretically model
of Islamic banks is the Islamic banking system is based on wealth (equality
based). And then, savers are treated as shareholders of Islamic banks.
6, International
Islamic Bank in the World
In syariag banking development
within the scope of international concerns about the quality of the development
of Islamic financial institutions that already exist, and the development of
Islamic financial institutions quantity until today. As seen in the recorded
data HIFIP (Harvard Islamic Finance Information Program), less the number of
financial institutions are recorded at HIFIP compared with the number of
Islamic financial institutions listed in the Directory of Islamic Banks and
Financial Institutions (1996) of the International Association of Islamic Banks
, Jeddah. One of the best Islamic bank institutions today is the country of
Malaysia's Islamic banking.
7, The Role of Islamic Bank in
Perekonimian
Economic growth is the basis of the
three principles of economic development (Development Trilogy) while the three
principles of economic development in question is: (1) The creation of
stability, (2) Creation of growth, (3) Creation of Equity.
8, The Islamic
Development Bank
Islamic Development Bank (IDB) initiated the establishment of the
Conference of Ministers of Finance First nation Organisation of the Islamic
Conference (OIC) in Jeddah on December 18, 1973. Therefore, every country that
has a shelter in the Islamic banking and moves along with the IDB.
(Karnaen A and
Hendri Tanjung, 2011: ix-xii)
CONCLUSION
Bank Syariah Bank is based on the
principles of partnership, fairness, transparency, and universally implemented
in the form of the prohibition of Riba in its various forms, Syari'ah Bank does
not recognize the concept of value, time, and space (time value of money) the
concept of money in Bank Sharia is a medium of exchange, not as a commodity,
Bank Syari'ah not engage in activities that are gambling (maisyri) transactions
that are not clear (gharar) applies not only to people of Islam, but also to
the whole society. Prospects of Islamic Banking in Indonesia starting in 2000
up to the next 10 years is expected to grow rapidly. The growth happened
because based on the research potential of Shariah banking market is quite
large and the number of potential areas unserved by Shari'ah banking services,
and also the support of the economy. Banking Shari'ah more conducive,
especially with the increasing stability of the rupiah, controlled inflation
and the trend continued decline in interest rates SBI.
Bank Syariah is no longer foreign to
the people of Indonesia. Although the bank is born from the womb of Muslims,
but the benefits and its use is now also felt by the non-Muslims. At a time
when banks hit by the financial crisis conventional, Islamic banks remain digdaya
and increasingly demanding public. So many conventional bank now has a special
unit of Islamic banks.
REFERENCE
Karnaen A. Hendri Tanjung, Perwataatmadja. 2011. Bank
Syariah Teori, Praktik, dan Peranannya. Jakarta: PT. Senayan Abadi.
http://www.syariahmandiri.co.id/category/edukasi-syariah/islamic-knowledge/.
Diakses pada Kamis, 15-5-14 Pukul. 23.30.
http://wahyunipermatasarisa.blogspot.com/2013/03/filosofi-bank-syariah.html.
Diakses pada Kamis, 15-5-14 Pukul. 23.40.
