| dc.contributor.author | ZA, ISTI'ANAH | |
| dc.contributor.author | AL GHOZALI, FALAH | |
| dc.date.accessioned | 2017-07-21T02:35:00Z | |
| dc.date.available | 2017-07-21T02:35:00Z | |
| dc.date.issued | 2017-04-04 | |
| dc.identifier.uri | http://repository.umy.ac.id/handle/123456789/11648 | |
| dc.description | MusharakaMutanaqishah financing (MMQ) is a financing partnership based on the principles of
Musharaka or syirkah, with the characteristics of assets ownership or capital of one of the parties (syarik)
continue to decline gradually due to purchases made by the other parties.MusharakaMutanaqishah financing
is relatively new. It has many advantages over other types of financing schemes. However, the regulation
and its implementation in Indonesia are still not optimum. The paper aims to analyze the weaknesses of the
regulation and the implementation of MusharakaMutanaqishah financing in Indonesia. The result shows
that there are some weaknesses of the regulation related to the MMQ financing, as follows: First, the
regulation governing MMQ needs to be completed by the government. Second, in term of language, the
regulation should follow the principle of legal drafting. Third, in some ways, there are conflicts of law in the
regulation of MMQ in Indonesia. Fourth, MMQ financing is only regulated in the Fatwa of National
Sharia Board, Indonesian Ulema Council (MUI). Furthermore, the implementation of MMQ financing
in Indonesia has not been ideal yet, since some criteria cannot be reached, namely: First, not all Islamic
Banking offers MMQ financing products. Second, the interest of customers to MMQ financing is still low.
Third, the implementation of MMQ financing cannot contribute in the improvement of the social-economy
productivity. MMQ Financing can be optimally realized with some strategic steps, i.e: amendment of MMQ
financing provision is needed and continued with dissemination to the public and stakeholders. The
government should strengthen the Sharia Banking capital by allocating in the state budget. Last but not
least, the spirit (ghîrah) from Muslims to do the Islamic teachings as a whole (kâfah), freeing themselves from
the usury system in their economic activities. | en_US |
| dc.description.abstract | MusharakaMutanaqishah financing (MMQ) is a financing partnership based on the principles of
Musharaka or syirkah, with the characteristics of assets ownership or capital of one of the parties (syarik)
continue to decline gradually due to purchases made by the other parties.MusharakaMutanaqishah financing
is relatively new. It has many advantages over other types of financing schemes. However, the regulation
and its implementation in Indonesia are still not optimum. The paper aims to analyze the weaknesses of the
regulation and the implementation of MusharakaMutanaqishah financing in Indonesia. The result shows
that there are some weaknesses of the regulation related to the MMQ financing, as follows: First, the
regulation governing MMQ needs to be completed by the government. Second, in term of language, the
regulation should follow the principle of legal drafting. Third, in some ways, there are conflicts of law in the
regulation of MMQ in Indonesia. Fourth, MMQ financing is only regulated in the Fatwa of National
Sharia Board, Indonesian Ulema Council (MUI). Furthermore, the implementation of MMQ financing
in Indonesia has not been ideal yet, since some criteria cannot be reached, namely: First, not all Islamic
Banking offers MMQ financing products. Second, the interest of customers to MMQ financing is still low.
Third, the implementation of MMQ financing cannot contribute in the improvement of the social-economy
productivity. MMQ Financing can be optimally realized with some strategic steps, i.e: amendment of MMQ
financing provision is needed and continued with dissemination to the public and stakeholders. The
government should strengthen the Sharia Banking capital by allocating in the state budget. Last but not
least, the spirit (ghîrah) from Muslims to do the Islamic teachings as a whole (kâfah), freeing themselves from
the usury system in their economic activities. | en_US |
| dc.language.iso | en | en_US |
| dc.publisher | Faculty of Law & Board of Research, Educational Development and Community Empowerment (LP3M) Universitas Muhammadiyah Yogyakarta | en_US |
| dc.subject | strengthening regulation and implementation, musharakamutanaqishah financing, Indonesian Islamic banking | en_US |
| dc.title | THE URGENCY OF STRENGTHENING THE REGULATION AND THE IMPLEMENTATION OF MUSHARAKA MUTANAQISHAH FINANCING ON ISLAMIC BANKING IN INDONESIA | en_US |
| dc.type | Book | en_US |
