Conceptual Distortion of Murabahah bil Wakalah and Its Implementation in Islamic Banking in Indonesia

  • Samsul Universitas Islam Negeri Alauddin Makassar
    (ID)
  • Nasrullah Bin Sapa Universitas Islam Negeri Alauddin Makassar
    (ID)
  • Rahman Ambo Masse Universitas Islam Negeri Alauddin Makassar
    (ID)
  • Abdul Rizal Universitas Sains Islam Al Mawaddah Warrahmah Kolaka
    (ID)
  • Jamaluddin Universitas Islam Negeri Alauddin Makassar
    (ID)
Keywords: Distortion of the Concept, Implementation of Murabahah Bil Wakalah, Islamic Banking

Abstract

The Islamic banking products that are highly relevant to the current market needs include Murabahah bil Wakalah products. However, there is inconsistency between the concept and its implementation in Islamic banking institutions, both banks and non-banks. Therefore, this study aims to examine the distortion of the concept of Murabahah bil Wakalah with its implementation in Islamic banking institutions in Indonesia. Using descriptive qualitative research methods, through library research in collecting data from various sources such as scientific journal articles and Fatwas from the National Sharia Council of MUI. The data obtained were analyzed by literature review comparing the concept and implementation of the Murabahah bil Wakalah contract. The results of this study indicate that there are several distortions found in the concept of Murabahah bil Wakalah with its practice in Islamic banking, particularly in terms of giving representation (wakalah) and ownership issues of the object of the contract, which should rightfully belong to the buyer (Ba’i).

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Published
2023-10-30
How to Cite
Samsul, Bin Sapa, N., Ambo Masse, R., Rizal, A., & Jamaluddin. (2023). Conceptual Distortion of Murabahah bil Wakalah and Its Implementation in Islamic Banking in Indonesia. Al-Mashrafiyah: Jurnal Ekonomi, Keuangan, Dan Perbankan Syariah, 7(2), 15-27. https://doi.org/10.24252/al-mashrafiyah.v7i2.38909
Section
AL-MASHRAFIYAH VOLUME 7 NOMOR 2 (2023)
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