The Characteristics Of Murabahah Akad With Ba’i Al-wafa’ System

Abstract

This research is motivated that ba'i al-wafa' system is a form of buying and selling widely used by society and financial institutions. The validity of this akad is considered valid and do not consider it valid, because there are conditions to buy back the goods sold by the seller while buying and selling on conditions is not allowed in Islamic economics. In practice, there is also a profit (margin) that is not following the concept of ba'i al-wafa' because it has no profit (margin), and this is not following sharia principles. The solution to overcome this is to combine ba'i al-wafa' system with a murabahah akad. The results of the study using the normative legal research with the statute approach, conceptual approach, and comparative approach is that the characteristics of the murabahah akad with the ba'i al-wafa' system can be seen from five things, namely in terms of Subject, Object, Price, Profit (Margin), and The Promise of Repurchase. In the final part of this research, the researcher also provides advice the Indonesian Ulema Council (MUI), should issue a Fatwa related to the validity of the murabahah akad with the ba'i al-wafa 'system which breaks down the KHES, and to Bank Indonesia, should issue a rule in the form of a Bank Indonesia Regulation which in that regulation regulates the types of akad that can be used by Islamic banking in carrying out their operational activities, one of which is the murabahah akad with the ba'i al-wafa' system