Murabahah Banking or Islamic Banking

Analytical Study of Islamic Banking Transactions in the Real Sector

Abstract

Murabahah is actually a form of financing that is permitted in transactions at Islamic banking institutions. In the practice of murabahah transactions, the financing mechanisms and procedures as well as the fiqh contract standards used by Islamic banks are in accordance with the sharia values decreed by classical and contemporary scholars.  The murabahah scheme has become a favorite product of Islamic bank customers, and this product has reached a very high percentage of over 70% compared to other products such as musyarakah and mudharabah. Murabahah is one of the products that has been permitted since the classical era of scholars to the contemporary era, although to date there is still academic debate among Islamic economic experts regarding the murabahah financing model in Islamic banking. This study aims to analyze the dominance of the murabahah scheme in Islamic banking transactions in Indonesia. The type of research is qualitative research with secondary data analysis presented descriptively by the researcher. This research was conducted through a literature review taken from data or financial reports of Islamic banks, books, international and national scientific journals, magazines, scientific papers, articles, the internet, Bank Indonesia (BI), the Financial Services Authority (OJK), and the Fatwa DSN-MUI. Furthermore, the results of the study show that there has been a significant acceleration in the growth of murabahah transactions in Islamic banking, with a very high percentage of over 76% above other products such as mudharabah schemes and other products in Islamic banking in the world and Indonesia today.