The Existence of MUI Fatwa No. 1 of 2004 Concerning Islamic Financial Institutions for the Indonesian Muslim Community

Authors

DOI:

https://doi.org/10.30659/sanlar.7.2.98-106

Keywords:

Effectiveness, Fatwa, Financial, Islamic, MUI.

Abstract

In order to support and improve the country's economy through Islamic financial institutions, the government through the Indonesian Ulema Council issued MUI Fatwa No. 1 of 2004. The research method used is a normative legal approach method supported by primary data, namely by using unstructured interviews with human resources working in banking institutions. The existence of MUI Fatwa No. 1 of 2004 shows that it is not yet as effective as expected in inviting Indonesian Muslim society to switch to a profit-sharing system and abandon usury. The practice of implementing the sharia system is still hampered by several things, including the service felt by the community in sharia banking institutions is still not satisfactory enough, such as the burden of profit sharing which is still high, the implementation of the sharia system which seems to be the same as conventional banks, the knowledge of human resources about sharia which is still minimal and the explanation of information is lacking.

Author Biographies

  • Aryani Witasari, Sultan Agung Islamic University
    SINTA ID : 6663313
  • Siti Rondhiyah Dwi Istinah, Sultan Agung Islamic University
    LECTURER

References

Al Qur'an

Books:

Cholil Nafis, M., (2011). Teori Hukum Ekonomi Syariah. UI-Press, Jakarta,

Frianto Pandia dkk, (2004). Lembaga Keuangan, Rineka Cipta, Jakarta,

Heri Sudarsono, (2005). Bank dan Lembaga Keuangan Syariah, Ekonisia, Yogyakarta,

Kasmir, (2002). Dasar-Dasar Perbankan, RajaGrafindo Persada, Jakarta,

Soerjono Soekanto and Sri Mamudji, (2010). Penelitian Hukum Normatif suatu Tinjauan Singkat, Raja Grafindo Persada, Jakarta,

Journals:

Ainun Najib. (2012). Fatwa Majelis Ulama Indonesia Dalam Perspektif Pembangunan Hukum Responsif. Jurnal Lisan Al-Hal, Vol. 4, No. 2, December,

Nur Hidayah, (2011). Fatwa-Fatwa Dewan Syariah Nasional Atas Aspek Hukum Islam Perbankan Syariah Di Indonesia, Jurnal Al-‘Adalah Vol.X No. 1 January,

Agus Waluyo, (2016), Kepatuhan Bank Syariah Terhadap Fatwa Dewan Syariah Nasional Pasca Transformasi Ke Dalam Hukum Positif, Jurnal Inverensi, Vol 10 No.2, December

Internet:

https://id.wikipedia.org/wiki/Fatwa, accessed on 6 November 2024

https://id.wikipedia.org/wiki/Majelis_Ulama_Indonesia

Legislation:

Constitution of the Republic of Indonesia

Law No. 21 of 2008 concerning Islamic Banking

MUI Fatwa No. 1 of 2004 on Bank Interest

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Published

2025-06-29

Issue

Vol. 7 No. 2 (2025): June 2025

Section

Articles

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