Financing Card Based on Murabahah Contract: The Legal Implications on a Credit Card

Abstract

The development in the economic sector is influencing the development of banking products. One of the many products that is commonly used is credit card. In this context, The use of credit cards practically bring some problems that are reflected in the Islamic Law Perspective, especially because it does not specifically manage the credit cards according to Islam. It is different from the conventional credit cards that already have legal instruments clearly. Therefore, this study examines the legal implications in financing cards based on murabahah contract. This research is a normative legal research by analyzing the management of the Financing Card Based on Murabahah Contract. In order to help the analyses, this study uses the theory of Mаqаsid аl -syаri'аh and the theory of expediency (utility). The results that found related to the legal implications in financing cards based on murabahah contract can be reviewed from the relevancy to the theory of usefulness (utility). Credit cards as a modern means of payment, provide many conveniences and benefits in the midst of the rapid development of the business world. In addition, to address the use of credit cards based on usury, the Syariah Bank issued a Syariah Credit Card or Financing Card, this product must be based on the National Syariah Council Decision (Fatwa Majelis Ulama Indonesia) No.54 / DSNMUI

/ 2006 on Syariah Card. Then in order to avoid legal implications that are not in accordance with syariah principles, from the aspect of the term that is used in Syariah, it is more appropriate to use the financing card term instead of credit card.