Future Package Financing Products With Akad Murabahah in The Perspective of Sharia Economics Law

Abstract

This paper aims at examining the practice of murahabah contract in Future Package Financing (PMD) Product of the BTPN Sharia Bank, and its compatibility with Law No. 21 of 2008, Bank Indonesia Regulation No. 07/46/PBI/2005 and DSN-MUI Fatwa No. 04/DSN-MUI/ IV/2000, and Financial Services Authority Regulation (POJK). This research relies on data obtained from interviews with BTPN Sharia Bank officials, various documents, and relevant articles, books, and theses. The results of this study indicate that the PMD Program practiced by BTPN Syariah Bank is inconsistent with Murabahah regulations on Sharia Economic Law in the DSN-MUI fatwa No. 4 of 2000 concerning Murabahah. Moreover, there are several indicators showing that the practice of murabahah in the PMD program is not in accordance with sharia.