The Rights of Credit Consumers to Terminate The Credit Agreement Earlier in Accordance with Law No. 7 of 1992 Concerning Banking in Conjunction with Law No. 10 of 1998 Concerning National Credit

Abstract

Abstract. In realizing a just and prosperous society based on Pancasila and the 1945 Constitution of the Republic of Indonesia, it is necessary to implement sustainable national economic development based on economic democracy. One of the goals of national economic development is to increase economic growth as a whole. Today, it is not enough for companies to only focus on economic growth alone, but a new paradigm is needed in the business sector, namely, sustainable development, which means an effort to meet current needs without reducing the ability and opportunities of the next generation to meet their needs. One of the contracts applied in the financing scheme in Islamic banks is through the murabahah contract. Murabahah itself is a concept obtained through a commodity buying and selling mechanism through additional margins as profits that have been agreed upon with the bank as the seller and the customer as the buyer. In this agreement, the bank finances the purchase of goods needed by its customers by purchasing goods from suppliers, then selling them at a price plus the profit from the sale of goods to customers which is carried out on a cost-plus profit basis. Credit agreements are one of the important instruments in the economy, both for individuals, companies, and financial institutions. However, in practice, it is not uncommon for problems to occur related to the rights of credit consumers who feel disadvantaged or trapped in an unfavorable credit agreement. In this context, the rights of credit consumers to terminate the credit agreement early (early termination) need to be clearly regulated in order to create a balance between the interests of consumers and financial institutions.

Keywords: Agreement; Bank; Consumer; Credit.