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Musyârakah
Arifin, Sirajul
Arifin, Sirajul
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This paper discusses the implementation of Musyârakah within syari’ah banking. Musyarakah is one of the profit and lost-sharing (PLS) models which its presence within syari’ah bank is parallel with Islamic concept. At the practical level of syariah banking, musyârakah is not purely legal construction but it is a social adaptation to the real circumstances which are based on contemporary local fiqh (Islamic law). Classical fiqh does not require the guarantee to be embodied in musyârakah contract, because the partner is a trustworthy person. Moreover, on the basis of trust, one partner cannot require a guarantee from the other partner. Otherwise, local fiqh gives concessions to syari’ah bank that requires the partners to provide guarantee in order to reduce the risk in the musyârakah financing.
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2012
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With permission of the license/copyright holder