LEGAL ISSUES IN SHARIAH A PAWN GOLD PRACTICE IN INDONESIA
Keywords:
legal, pawn gold, pawning, Shariah, financing mechanismAbstract
In Indonesia, the function of pawning as financing instrument has shifted into investment by continuously doing pawning and buying. Current regulation has allowed this practice for ban ks, pawnshop and financial institutions to offer pawn gold. It is not for financing activity but for investment activity and not comply with the Shariah principles. This study uses normative juridical approach by using secondary data from the legal resources, with specification of research methods using descriptive analysis. The conclusions from this study are that the practice of pawning gold is inconsistent with the pawning function as financing mechanism and it’s kind of investment activity. Nowadays forming regulation is need to be addressed.
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References
Irham Fachreza Anas (2012). Questioning Gold Pawn: Criticism and Repair Gold Pawn Islamic bank, the Islamic Association of Indonesian Economists. Jakarta: n.p.p.
Lastuti Abubakar (2010). “Implications of Economic Activity Sharia Law Economic Development in Indonesia,†Legal Review Journal, vol. 1, no. 2, 165.
Mehmet Asutay (2012). “An Introduction to Islamic Moral Economy,†Article, Durham Islamic Finance Summer School, Durham University.
Mills Paul & Presley John (1999). Islamic: Finance Theory and Practices. London: Palgrave Macmillan.
List of Statutes
Decree of the Minister of Cooperatives and Small and medium No.: 01/Per/M.KUKMII/2010.
Government Regulation Number 51 Year 2011 concerning the Legal Entity Pawnshop Going Persero.
Law No. 19 Year 2003 on State-Owned Enterprises.
Law No.10 of 1998 on the Amendment of Law No: 7 of 1992 About Banking.
Law No: 9 of 2011 on the Amendment of Law No: 9 Year 2006 on Warehouse Receipt.
National Islamic Council of Fatwa No: 25/DSN-MUI/III/2002 about rahn ( sharia pawn).
National Islamic Council of Fatwa No: 26/DSN-MUI/VIII/2002 about rahn gold.
National Islamic Council of Fatwa No: 68/DSN-MUI/III/2002 about tasjily rahn.
Lastuti Abubakar (2010). “Implications of Economic Activity Sharia Law Economic Development in Indonesia,†Legal Review Journal, vol. 1, no. 2, 165.
Mehmet Asutay (2012). “An Introduction to Islamic Moral Economy,†Article, Durham Islamic Finance Summer School, Durham University.
Mills Paul & Presley John (1999). Islamic: Finance Theory and Practices. London: Palgrave Macmillan.
List of Statutes
Decree of the Minister of Cooperatives and Small and medium No.: 01/Per/M.KUKMII/2010.
Government Regulation Number 51 Year 2011 concerning the Legal Entity Pawnshop Going Persero.
Law No. 19 Year 2003 on State-Owned Enterprises.
Law No.10 of 1998 on the Amendment of Law No: 7 of 1992 About Banking.
Law No: 9 of 2011 on the Amendment of Law No: 9 Year 2006 on Warehouse Receipt.
National Islamic Council of Fatwa No: 25/DSN-MUI/III/2002 about rahn ( sharia pawn).
National Islamic Council of Fatwa No: 26/DSN-MUI/VIII/2002 about rahn gold.
National Islamic Council of Fatwa No: 68/DSN-MUI/III/2002 about tasjily rahn.
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Published
2020-12-23
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