Implementation of Sharia Principles in Murabahah Financing Arrangement
Banking institution is a very important financial institution in an economic system of a country. In its development, sharia banking institution is not developing as fast as conventional banking, although majority of Indonesian population is Muslim. On the other hand, there are still various legal issues related to murabahah financing, which is indicated not in accordance with sharia.
Based on this background, Aad Rusyad Nurdin conducted a study. His research addresses issues concerning the arrangement of murabahah financing in accordance with the principles of sharia and its implementation in practice, as well as efforts to make murabahah financing comply with the principles of sharia.
Aad Rusyad Nurdin conducted his research using the method of normative juridical approach based on secondary data, and supported by primary data to see its implementation in practice at a number of sharia banks in Jabodetabek region.
The theory he used is the theory of maqasid shariah to see whether the arrangement shows the purpose for the benefit of the ummah, and used the theory of exchange because murabahah is a part of an exchange transaction.
Aad Rusyad Nurdin research results show the development of Islamic banking regulation in Indonesia is inseparable from the dynamics of the history of its existence in Indonesia. The implementation of murabahah financing is used by the Sharia Banking Law and its implementation rules, as well as the fatwas of National Sharia Council (Dewan Syariah Nasional—DSN). Murabahah financing implementation shows that there is still sharia deviation. Therefore, efforts should be made to ensure that murabahah is implemented according to sharia and provides benefits through improvements to several regulations related to murabahah financing and external supervisory performance of Sharia Banks by the authority to self-evaluate and improve technical regulations on implementation, improvement of human resources performance, and improvement of internal control through the Sharia Supervisory Council (DPS), customers of Sharia Banks are responsible for payment settlement and become part of the social control of sharia murabahah financing implementation.
Aad Rusyad Nurdin succeeded in defending his dissertation entitled “Implementation of Sharia Principles in Murabahah Financing Arrangements” before the Chairman of the Session Prof. Melda Kamil Ariadno, S.H., LL.M., Ph.D., Dr. Dra. Uswatun Hasanah, M.A. as Promotor, Prof. Dr. Faturrahman Djamil, MA., Dr. Yunus Husein, S.H., LL.M. as Co-Promotor / Examiner, with the Examiner Team of Prof. Dr. Rosa Agustina, S.H., M.H., Prof. Drs. Azyumardi Azra, B.A., M.Phil., M.A., Ph.D., Prof. Dr. Nasarudin Umar., M.A., Dr. Jufrina Rizal, S.H., M.A., Dr. Zulkarnain Sitompul, S.H., LL.M., and Dr. Yeni Salma Barlinti, S.H., M.H.
After presenting his dissertation and answering questions raised by the board of examiners, Aad Rusyad Nurdin was awarded the title of Doctor of Legal Studies with a very satisfying predicate.
