Korespodensi Iqtishad: Jurnal Ilmu Ekonomi Syariah "Sharia Financial Institutions Compliance Towards Islamic Principles in Performing Intermediation Functions"

Mizaj Iskandar Usman, 2025038601 (2022) Korespodensi Iqtishad: Jurnal Ilmu Ekonomi Syariah "Sharia Financial Institutions Compliance Towards Islamic Principles in Performing Intermediation Functions". Iqtishad: Jurnal Ilmu Ekonomi Syariah, Jakarta.

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Abstract

In carrying out its business activities, LKS are required to comply with Islamic principles. The Islamic principles referred to are Islamic principles regulated in the DSN-MUI fatwas. However, in the Indonesian legal hierarchy, the DSN-MUI does not have binding rules at the level of the law. This makes LKS half-hearted in complying with Islamic principles in conducted its intermediation function. In addition to these factors, disobedient LKS to Islamic principles is also due by DSN-MUI fatwas that are not applicable, conflicts of interest caused by the DPS structure which is under the shareholders and the commissioners’ board, concurrent positions in several DPS and the competence of DPS’members. By using normative legal research methods, this study finds the need for regulatory improvements both related to DPS-MUI and DPS. From the DPS-MUI side, there is a need for regulations that confirm the authority of DSN-MUI in establishing binding Islamic principles to be carried out by LKS. Internally, DSN-MUI also needs to adjust its fatwas to be more applicable so that they no longer cause multiple interpretations at the implementation level. Meanwhile, from the DPS side, there needs to be a new regulation that explicitly and clearly places the DPS as an independent internal supervision agency thus that its free from conflicts of interest of interested parties. The regulation also needs to emphasize the prohibition of concurrent positions, therefore supervisory work can be maximized. Finally, increasing the qualifications of DPS members could be done by providing seminars and trainings in modern economics and sharia economics.

Item Type: Other
Subjects: 300 Sociology and Anthropology (Sosiologi dan Antropologi) > 340 Law/Ilmu Hukum
Divisions: Fakultas Syariah dan Hukum > S1 Ilmu Hukum
Depositing User: Mizaj Iskandar Usman
Date Deposited: 09 Jan 2023 04:22
Last Modified: 09 Jan 2023 04:22
URI: https://repository.ar-raniry.ac.id/id/eprint/25355

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