Analysis of Financing with Murabahah Agreements

Case study at KSPPS Baytul Ikhtiar

Abstract

One of the financial institutions that operates with the sharia concept is the Baytul Ikhtiar Sharia Financing Savings and Loans Cooperative (KSPPS). In terms of legality, KSPPS Baytul Ikhtiar has a legal entity: 518/169/BH/KPTS/KKUKM/2008. Based on the decision of the Minister of Cooperatives and Small and Medium Enterprises of the Republic of Indonesia Number 11/PER/M.KUKM/XII/2017 concerning the Implementation of savings and loan business activities and sharia financing by cooperatives which provides the understanding that KSPPS Baytul Ikhtiar is a cooperative whose business activities are carried out in in the fields of financing, investment and savings according to the profit sharing pattern (syariah). One of the contracts used by KSPPS Baytul Ikhtiar in buying and selling based financing transactions is Murabahah. Murabahah is a sale and purchase contract where the institution acts as the seller and the customer as the buyer. The aim of the research is to determine the implementation of murabahah financing at KSPPS Baytul Ikhtiar. This research method includes a type of field research with a descriptive analytical approach to present the data obtained in the field and then analyze it and reach conclusions. The results of the research show that the implementation of murabahah financing products at KSPPS Baytul Ikhtir is in accordance with sharia principles because they have implemented a murabaha contract although there are still things that must strictly comply with these principles.

Keywords: Murabah Agreement . Financing