PRODUCTS IN ISLAMIC BANKING IN INDONESIA AND THEIR LEGAL BASIS

Authors

  • Fahrial Fahrial Universitas Islam Riau, Pekanbaru, Indonesia
  • Andrew Shandy Utama Faculty of Law, Universitas Lancang Kuning, Pekanbaru, Indonesia

Abstract

Islamic banks are banks that carry out their business activities based on sharia principles, namely Islamic legal principles in banking activities based on fatwas issued by institutions that have the authority to determine fatwas in the sharia field. Islamic bank products in raising funds are current accounts, savings and deposits. Islamic bank products in the distribution of funds, namely financing based on the sale and purchase agreement, namely murabahah, salam, and istishnaÔÇÖ; financing based on lease agreements, ijarah and ijarah muntahiya bittamlik; financing based on profit sharing agreements, namely mudharabah and musyarakah; and financing based on a social loan agreement, qardh. Islamic bank products in financial services namely hawalah, kafalah, wakalah, rahn, and sharf.

Author Biography

Fahrial Fahrial, Universitas Islam Riau, Pekanbaru, Indonesia


References

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Published

2020-02-20

Issue

Vol. 1 No. 1 (2020): PROCEEDING BATUSANGKAR INTERNATIONAL CONFERENCE IV GRADUATE PROGRAMME OF IAIN BATUSANGKAR. (ISBN: 978-602-329-078-9)

Section

Articles

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