Introduction
Islam
is a universal, comprehensive and applicable religion. The development of
Islamic teachings in today's economy shows a significance
that we need to appreciate in various forms. The involvement of Muslims in the
Prophet's style of economy has indeed produced results that can compete with
the conventional economy. Aspects of banking, insurance, mutual fund
investment, cooperatives and others are a tangible manifestation of the
application of Islamic law.
Especially
in the banking world, the concept of sharia is mushrooming everywhere.
Commercial banks, whether state, national or foreign commercial banks, on
average, have started to open sharia units. It is very interesting if we take a
closer look at the concept of sharia in the banking world. The concept of shari'ah is many and varied, but the significance that
skyrocketed to the concept that was implemented 1,433 years ago in this launch
is murabahah (buying and selling). In simple terms,
this concept formula takes advantage of goods sold at a price which of course
has been calculated in such a way that it makes a profit.
There
is a stigma that is enough to make the world of Islamic banking a bit blurry
when people say that Islamic banks are the same as conventional banks.
Pricing
is one of the most important in marketing activities. Prices are very important
to pay attention to, considering that prices greatly determine the behavior of
banking products and services. Wrong in determining the price will be fatal to
the products offered later.
For
banks, especially banks based on conventional principles, prices are interest,
administration fees, fees and commission fees, shipping costs, billing fees,
dues fees and other costs. Meanwhile, the price for banks based on sharia
principles is profit sharing.
For
banks based on conventional principles, there are three types of interest-based
prices, namely the purchase price, selling price and fees charged to customers.
The purchase price is the interest paid to the customer. The purchase price is
the interest given to customers who have deposits, such as demand deposits,
savings interest, and deposit interest, while the selling price is the interest
charged to credit recipients. Then the costs are determined for the various
types of services offered (Kashmir, 2004).
Based
on the description above, the researchers tried to explore the concept of murabahah with a research entitled "The Concept of Murabahah (Buying and Selling) and its Application to the
Shariah Pariri Lema Bariri Financial Services Cooperative (KJKS PALEBA) West
Sumbawa Regency, West Nusa Tenggara".
Method
The
research method used in this research is descriptive research (Moleong, 2013).
Descriptive research is research conducted to determine the value of
independent variables, either one or more variables without making comparisons,
or connecting with other variables (Sugiyono, 2017).
This study aims to determine the concept of buying and selling (murabahah) and its application to the Syari'ah
Pariri Lema Bariri Financial Services Cooperative (KJKS PALEBA) West
Sumbawa Regency. By making descriptions of certain situations or events in order
to obtain a systematic, factual and accurate description of the facts (Sumardi Suryabrata, 2002).
Where the research conducted is independent which aims to find out about the
concept of buying and selling murabahah and its
application in the Syari'ah Pariri
Lema Bariri Financial
Services Cooperative (KJKS PALEBA) West Sumbawa Regency.
In
accordance with the form of the descriptive research approach, the data
collection techniques needed in this study did several things, including:
A. Observation
/ direct observation
Researchers conducted direct field
observations of the practice of applying the concept of buying and selling murabahah.
B. Literature
study
One type of activity carried out by
researchers in the context of collecting research materials is library
research. Which is a documentation study by examining books,
journals, magazines, newspapers, as well as by searching through the internet
and other literatures that are relevant to the problems to be studied by researchers.
C. Interview/interview
This method was used to obtain direct
information about the policy of implementing murabahah
trading in the Pariri Lema Bariri Sharia Financial Services Cooperative (KJKS PALEBA)
West Sumbawa Regency.
�
The
analytical method used is descriptive qualitative approach by presenting
factual information obtained from KJKS PALEBA, West Sumbawa Regency, which
relates to the application of the murabahah buying
and selling method. So get the practice going.
Qualitative
research is a research procedure that produces descriptive data in the form of
written or spoken words from people under the circumstances observed (According
to (Cresswell, 2017)).
Qualitative research is a research method used to examine the condition of natural
objects, and the results of qualitative research are more meaningful than
generalizations.
Results
and Discussion
A.
Murabahah
Based on muamalah fiqh, there is a type of
buying and selling called bai' al amanah, namely buying and selling in a
mandate (trust) where the buyer believes the seller's words about the first
price without any evidence and oath, so that betrayal and bad prejudice must be
avoided. The buying and selling system itself consists of three forms, namely
murabahah, tauliyah, and whadi'ah. Murabaha is buying and selling at the first
price with additional profits. Tauliyya is buying and selling at the first
price without any addition or subtraction. While wadhi'ah is
buying and selling with a lower selling price than the first price. In
this discussion, the researcher will only limit the murabaha
aspect.
Murabahah in
language is a form of mutual (meaning: mutual) from the word ribh which means
profit, namely the increase in the value of capital (so it means mutual benefit).
According to the terminology of fiqh, it means that murabahah is selling with
original capital with a clear additional profit (Al-Mushlih & Ash-Shawi, 2004).
Murabahah is
a transaction of a seller of goods by stating the acquisition price and profit
(margin) agreed upon by the seller and the buyer (Istini
T. Siddharta, 2001: 12).
Murabahah
sale and purchase is the sale and purchase of goods at the original price with
additional agreed profits. In buying and selling murabahah, the seller must
notify that the price of the product he bought and determine a level of profit
in addition (Moh. Rifai, 2001; 61).
1.
Murabahah Scheme
Sharia banks as
sellers and customers as buyers, goods are delivered immediately and payments
are made in a tough manner.
2.
Development
Scheme
e) Review
of pricing according to shari'ah.
According to Bank Indonesia, an ideal sale and purchase
transaction, Islamic banks must be able to calculate and separate the real
costs and the level of profit desired by the bank as the basis for determining
margins. Likewise in investment transactions, an Islamic bank must be able to
determine the level of profit based on the real financial performance of a
company.
f) Determination
of profit margins
Sharia banks set profit margins for financing products
based on Natural Certainty Contracts (NCC), namely business contracts that
provide payment certainty, both in terms of amount (amount) and timing
(timing), such as murabahah financing, ijarah, ijarah
vomiting bit tamlik, greetings, and istishna'.
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g) Method
of determining the selling price (profit margin) in Islamic banks
Pricing in financing in Islamic banks is by using the Going
Rate Pricing Method, which uses the market interest rate as a reference
(benchmark) by adjusting competitors' prices. The reason is because Islamic
banks compete with conventional banks. In addition, Islamic banks also want to
get long-term customers or floating customers.
However, determining the selling price of products at
Islamic banks must pay attention to the provisions that are justified according
to sharia. Therefore, the method of determining the selling price based on the
target return pricing and mark-up pricing can be used with modifications.
1. Implementation
of target return pricing forfinancing
IslamicIslamic banks operate without using interest.
Operational mechanisms in obtaining income can be generated based on the classification
of contracts, namely contracts that generate profits for sure. It is called a
Natural Certainty Contract, and a contract that produces uncertain profits is
called a Natural Uncertainty Contract.
2. Application
of Mark-Up Pricing for Islamic financing If Islamic
banks want to apply the mark-up pricing method, this method is only appropriate
for financing whose source of funds is from a Restricted Investment Account
(RIA) or mudharabah muqayyah.
Why is that? Because the mudharabah muqayyah contract is a contract where the owner of the
funds demands certainty of the results of the invested capital.
h) Maximum
limit for determining profit according to sharia
�There is no
sharia argument relating to the determination of business profits, so that if
it exceeds this amount it is considered haram. This has become a general rule
for all types of merchandise in every era and place. These provisions, because
there are several lessons including:
1. Price
difference, sometimes fast turning and sometimes slow. According to custom, if
the turnover is fast, the profit will be less. Meanwhile, if the turnover is
slow, the profits will be many.
2. The
difference between cash sales and sales of deferred payments (credit). The
reason is that the profit on cash sales is smaller than the profit on credit
sales.
3. The
difference in the commodities sold, between primary and secondary commodities,
the profit is less because it pays attention to the poor / needy people and
people in need.
As has been explained, there is no history in the sunnah of the Prophet Muhammad SAW that regulates profit
restrictions, so it is not permissible to take more than what is reasonable. On
the contrary, it is narrated in a hadith which stipulates that it is
permissible for trading profits to be doubled under certain conditions, or even
more. It was narrated by Ahmad in his Musnad from Urwah that he narrated: The Prophet was once offered a
trading goat. Then he gave me a dinar. He said, 'O Urwah,
go to the animal dealer, buy me a goat.' I managed to bring two goats. I
returned with the two goats � in another narration � accompanying the two
goats. On the way, I met a man and offered my goat. I sell one goat for one
dinar. I returned to the Prophet saying 'O Messenger of Allah! This is your
goat and this one dinar is also yours! He asked, what are you
doing?' I told him everything.' he said, 'O Allah, bless his commercial
profits.' I experienced after that that when I was standing at Kinasah in the city of Kufa, I
managed to make a profit of forty thousand dinars before I got home to meet my
family."
i) Efficient
Murabahah Selling Price Determination In
Practice in Islamic banks in Indonesia, the murabahah financing portfolio reaches 70-80%. This
condition is not only in Indonesia, but also in Islamic banks in Malaysia and
Pakistan.
A number of reasons were put forward to explain the
popularity of murabahah in sharia investment banking
operations: (i) murabahah is a short-term investment
mechanism, and compared to the profit sharing system (musharaka
and mudharabah) it is quite convenient. (ii) the
mark-up in murabahah can be set in such a way as to
ensure that banks can get profits that are proportional to the profits of
interest-based banks to compete with Islamic banks (iii) murabaha
avoids the uncertainty that exists in the income from business business with a system profit sharing (iv) murabahah does not allow Islamic banks to interfere with
business management, because the bank is not the customer's partner, because
their relationship in murabahah is the relationship
between creditors and debtors. Determination of the selling price of murabahah can be done by the Prophet when trading. In
determining the selling price, the Apostle transparently explains what the
purchase price is, how much the costs have been for each commodity and how much
profit is desired. The method used by the Prophet can
be used as one of the methods of Islamic banks in determining the selling price
of murabahah products.
B.
Pariri Lema Bariri (Kjks Paleba)
Financial Service Cooperative Products, West Sumbawa Regency.
KJKS PALEBA West Sumbawa Regency functions
as an intermediary institution between the owners of funds (capital) and
business actors, especially micro and small businesses. KJKS PALEBA, West
Sumbawa Regency, collects funds in the form of savings for members and
prospective members and other cooperatives. To raise these funds, KJKS PALEBA,
West Sumbawa Regency, offers a number of savings products in accordance with a
number of savings products that comply with the provisions of Islamic law. Savings, both savings and term investments with mudharabah
al mutalaqah contracts that provide profit sharing to
the owner of the deposit.
The KJKS PALEBA micro financing product in
West Sumbawa Regency is prioritized for additional capital for micro and small
businesses. Financing skin in accordance with sharia provisions can be in the
form of buying and selling or investment cooperation. The financing period is
prioritized for short-term financing with fast turnover (daily, weekly and
monthly).
The financing products in KJKS PALEBA, West
Sumbawa Regency are prioritized for additional capital for micro and small
businesses. Financing schemes in accordance with shari'ah
provisions can be in the form of buying and selling or investment cooperation.
The financing period is prioritized for short-term financing with fast turnover
(daily, weekly and monthly).
The financing products at KJKS PALEBA, West
Sumbawa Regency include murabahah, ijarah, mudharabah and musharabah. The
following is a description of each type of financing product.
1. Murabahah
receivables (Sales and Purchases)
This financing is for the purpose of purchasing goods,
either in the form of capital, production equipment, raw materials, inventories of goods and for the needs of consumptive goods.
Payment in this murabahah receivable can be made in
cash, or in installments for a certain period of time. In the sale and purchase
of murabahah, the customer has the right to know the
cost of goods and the profit margin obtained by KJKS PALEBA, West Sumbawa
Regency.
2. Ijarah
(lease)
A pattern of financing in which KJKS PALEBA, West
Sumbawa Regency, rents out an item/service for the benefit of the customer with
a certain amount of compensation paid by the customer to KJKS PALEBA, West
Sumbawa Regency. Ijarah financing can be used to rent a place of business, rent
a vehicle, and others.
3. Mudharabah
Is a given process in which KJKS PALEBA, West Sumbawa
Regency, is the owner of capital (shahibul mal) and
the customer is the manager of capital (mudharib). Mudharabah financing is also known
as a profit-sharing financing pattern according to the agreement.
4. Musyarakah Musyarakah
Financing is a pattern of cooperation between KJKS
PALEBA, West Sumbawa Regency and one or more business partners in a project or
business activity, where the parties involved equally contribute in terms of
capital and business management. Distribution of results according to the
agreement made at the time the contract was made.
C.
Bapplication Of The Concept Of Buying Murabahah In Kjks Paleba, West Sumbawa District
1. Murabahah
sale and purchase transaction mechanism
In the process of determining the selling price where
the account officer (AO) from KJSS PALEBA West Sumbawa Regency will convey the
margin level desired by KJKS PALEBA West Sumbawa Regency to murabahah
customers. Customers can bid only up to a certain margin value which is not
reduced anymore. If a customer wants to be demoted again, the possibility is
that the customer is rejected or the application is postponed until a decision
is made by the KJKS PALEBA leadership meeting, West Sumbawa Regency. In
addition, the acceptance decision is still based on research from the
evaluation results of the 5 Cs, namely: Character, Capacity, Capital,
Collateral and Condition.
2. Method
of determining the selling price of murabahah in KJKS
PALEBA, West Sumbawa Regency.
The method of determining the selling price of murabahah carried out by KJKS PALEBA, West Sumbawa Regency
is using the flat profit method where the calculation of the profit margin
against the cost of financing is fixed from one period to another, even though
the debit balance decreases as a result of the principal installments. Below is
an example of a murabahah sale and purchase carried
out by KJKS PALEBA, West Sumbawa Regency:
Mr. Zulkifli wants to buy a
pickup for business development. To realize this desire, he visited KJKS
PALEBA, West Sumbawa Regency, with the purchase price of a car of Rp.
40,000,000 fees charged Rp 806,000 profit margin provided is 2% per month. The
calculation method is as follows:
Financing
contract: MURABAHAH
Cost
of Purchases: Rp. 40,000,000
Fees
Fees:
1) Administration���������������� ���� : Rp 800,000
2) 1
piece of stamp duty������������ ��������� : Rp 6,000
3) Quantity��������������������������������� ������� : Rp 806,000
Payment
term: 1 year (12 months)
Profit
buying and selling : 2% X IDR 40,000,000
= IDR 800,000��������������������������������������������� ����� : IDR 800,000 X 12 = IDR 9,600,000
Selling
Price���������������� � : IDR 49,600,000
Payment
system�� �������� :
Monthly installments IDR 4,1333,333.33
Conclusion
Murabahah is
the concept of buying and selling in Islamic teachings that are permissible
according to sharia, of course with various pillars and conditions as the
fulfillment of halal transactions. The existence of profit (margin) in this
concept is a consequence of the trading world in general. The existence of
different patterns of buying and selling murabahah
transactions carried out in classical and contemporary times is indeed a
difference in application, but as long as the pillars and conditions are met,
the transaction is still valid according to sharia.
The
application of the concept of buying and selling or murabahah
has indeed been applied to non-bank institutions, namely the Syari'ah Pariri Lema Bariri Financial Services
Cooperative, West Sumbawa Regency (KJKS PALEBA). The existence of an
installment payment method makes it easy for members. The excess in the value
of money is a consequence of margin (profit) which is common in the world of
buying and selling in general.
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