The Difference of the Mudharabah Agreement (Akad) Concept based on the Sharia Banking Act and the Implementation of Kaffah and Istiqamah Principles in Indonesia

Nikmah Mentari, Rahayu Mulia Romadhoni, Baharudien Dzulqarnain

2018

Abstract

This study aims to formulate and determine the ratio legis of Sharia Banking Act. It also aims to examine the Sharia Banking Act in comparison to the existing Sharia norms. The Sharia Banking Act provides different definition on the concept of mudharabah agreement (akad) which is stated on the explanation of Article 19 paragraph (1) letter b and c. Meanwhile, the implementation of kaffah and istiqamah principles in the Explanation of Article 3 of the Sharia Banking Act deviate from mudharabah agreement (akad). This research employs doctrinal methodology. This study finds that mudharabah agreement contain fair and equal principle to between the owners of capital and managers, as well as the daring responsibility of taking risks. It is necessary for conducting judicial review related to profit and loss sharing particularly Article 19 letter b and c of Sharia Banking Act.

Paper Citation

in Harvard Style

Mentari N., Romadhoni R. and Dzulqarnain B. (2018). The Difference of the Mudharabah Agreement (Akad) Concept based on the Sharia Banking Act and the Implementation of Kaffah and Istiqamah Principles in Indonesia.In Proceedings of the International Law Conference - Volume 1: i-NLAC, ISBN 978-989-758-482-4, pages 223-227. DOI: 10.5220/0010050202230227

in Bibtex Style

@conference{i-nlac18,
author={Nikmah Mentari and Rahayu Mulia Romadhoni and Baharudien Dzulqarnain},
title={The Difference of the Mudharabah Agreement (Akad) Concept based on the Sharia Banking Act and the Implementation of Kaffah and Istiqamah Principles in Indonesia},
booktitle={Proceedings of the International Law Conference - Volume 1: i-NLAC,},
year={2018},
pages={223-227},
publisher={SciTePress},
organization={INSTICC},
doi={10.5220/0010050202230227},
isbn={978-989-758-482-4},
}

in EndNote Style

TY - CONF

JO - Proceedings of the International Law Conference - Volume 1: i-NLAC,
TI - The Difference of the Mudharabah Agreement (Akad) Concept based on the Sharia Banking Act and the Implementation of Kaffah and Istiqamah Principles in Indonesia
SN - 978-989-758-482-4
AU - Mentari N.
AU - Romadhoni R.
AU - Dzulqarnain B.
PY - 2018
SP - 223
EP - 227
DO - 10.5220/0010050202230227