| dc.description.abstract | Murabaha financing is a financing most demand by the customers. In consequence, murabaha significantly dominates and
contribute to increasing the percentage of market share of sharia banking in Indonesia. However, from the aspect of conformity
with the concept of sharia, the implementation of murabaha is debatable because some sharia banks have not fully comply the
regulation applied. First, there are some sharia banks which have not perfectly implemented the process of selling and
purchasing of an object then, when murabaha financing is made, the goods have not immediately become the property of the
bank. Second, in case of murabaha by using wakalah agreement, the agreement of wakalah was not perfectly obeyed by the
customers and murabaha financing has executed before the customers completely perform the representation process. Third,
there are still many sharia banking which is implementing the murabaha financing to be working capital containing the element
of bai al-inah. Furthermore, murabaha financing is also used in the transaction takeover and refinance and conversing
murabaha becomes murabaha which is explicitly prohibited by National Sharia Council of Indonesian Ulema Council.
Recommendation: First, to maintain the existence or even develop murabaha financing, sharia banking needs to keep the
credibility of murabaha financing by organizing its implementation to be in line with the regulation. Second, if sharia banking
difficulties in implementing murabaha by involving a third party or uncomfortable applying murabaha bil wakalah, sharia
banking can provide the service of murabaha by inventory even though it has to be accommodated by adequate risk
management. Third, in case of sharia banking needs to operate the purchasing for productive working capital, conversion, take
over and refinancing, sharia banking is better using profit-sharing financing feature such as mudharabah, musyarakah or
musyarakah mutanaqisah in accordance with the guidelines of National Sharia Council of Indonesian Ulama Council. | en_US |
