PRODUCTS IN ISLAMIC BANKING IN INDONESIA AND THEIR LEGAL BASIS

Abstract

Islamic banks are banks that carry out their business activities based on sharia principles, namely Islamic legal principles in banking activities based on fatwas issued by institutions that have the authority to determine fatwas in the sharia field. Islamic bank products in raising funds are current accounts, savings and deposits. Islamic bank products in the distribution of funds, namely financing based on the sale and purchase agreement, namely murabahah, salam, and istishna’; financing based on lease agreements, ijarah and ijarah muntahiya bittamlik; financing based on profit sharing agreements, namely mudharabah and musyarakah; and financing based on a social loan agreement, qardh. Islamic bank products in financial services namely hawalah, kafalah, wakalah, rahn, and sharf.