Types Of Sharia Bank Akads In Indonesia And Examples

YOGYAKARTA There are various types of sharia bank contracts in Indonesia that are used as the basis for Islamic sharia-based transactions. The existence of the contract is important as a guarantee that transactions carried out in Islamic banking are halal and do not violate the rules.

In the Big Indonesian Dictionary (KBBI), the contract is interpreted as an agreement or contract. In general, Islamic bank contracts are agreements, contracts, or agreements made between banks and customers based on sharia law.

Quoted from the website of the Financial Services Authority (OJK), there are several Islamic bank contracts that have been implemented, namely as follows.

Akad wadiah is a contract used in entrusted products in banks. The term Wadiah itself comes from Arabic, namely Wada'a-Yada'u-Wad'an which in Indonesian means letting, leaving, or entrusting something.

In general, this contract is carried out between customers who own goods or money with banks or parties who are trusted to store customer goods or money.

In the context of Islamic banking, a cad al-Ad product is widely used by customers to store funds in the form of money. Customers can take these funds at any time and banks must be able to provide these funds when taken. On the other hand, banks will be responsible for maintaining security and managing funds in accordance with sharia principles.

On the other hand, banks do not promise compensation to customers, but customers also do not take responsibility when there is a loss.

Akad mudharabah is a contract that is carried out when two parties cooperate with each other, namely when the first party to have the funds (shahibul maal) will provide 100 percent of the capital needed to the second party as the manager. The first party will get a business profit divided according to the agreement between the two parties.

In general, the contract of musyarakah is an agreement made between 2 parties or more to work together in order to achieve the success of the business sector. It should be noted that this contract was carried out to develop a business with each party providing financial support with the figures agreed together at the beginning.

Referring to Article 19 letter (c) of Law Number 21 of 2008 concerning Sharia Banking, it is explained that the meaning of the murabahah contract is the goods financing contract by submitting the purchase price to the buyer, but the buyer must pay at a higher price according to the agreement. This contract is usually carried out in the process of buying and selling openly between the two parties or more.

The greeting contract is a contract carried out in the sale and purchase transaction process, but the goods purchased are not on the spot and will be given to the buyer after the transaction is carried out. For example, the practice of greeting contract, Jogja residents buy cars located in Jakarta. The car will be sent after the Jogja resident makes a transaction.

On the OJK website, it is explained that the istishna contract is a sale and purchase agreement in the form of an order for the manufacture of goods or products based on the criteria or conditions that have been agreed upon between the buyer or customer and the seller or producer. An example of the isthina contract is that someone orders a cake with the condition that it is in the form of interest, the producer will agree on these conditions with the isthina contract.

Ijarah is a contract carried out in rental activities or relocation of the right to use and benefits of an item or service without transferring ownership of goods. For example, the ijarah contract is carried out in the rental of shop houses or plantations.

Ijarah Vomitiyah Bittamlik or what can be abbreviated as IMBT is the goods rental contract which at the end of the rental period is followed by the transfer of ownership of rental goods from the leaser (mu'ajir) to the tenant (musta'jir).

Akad qardh is a contract that is carried out during the loan process but without compensation. For example, person A borrowed Rp. 10 million and had to be returned for 2 months to person B. The refund of the funds was carried out according to the nominal value borrowed in the agreed time together.

In addition to knowing the contract, the public is advised to know different ways of working for conventional and sharia banks.

That's information related to the type of sharia bank contract. Visit VOI.ID to get other interesting information.