Murabaha Based Credit Cards: The Appropriateness of Murabaha and Maqasid Al-Shariah

Abstract

The Economic development boosts the development of banking products. One of the products is credit card. In this context, the larger credit cards used, it may cause some problems viewed from Islamic Fiqh. Moreover, the use of Shariah credit card has not been regulated. Unlike conventional credit cards that has a clear legal instrument. Therefore, this research elaborates the appropriateness of Credit cards that is based on murabaha and the maqasid al Shariah. The research done is a normative legal research. The theory applied to answer the problems of the research is the theory of Maqasid al- Shariah. Murabaha-based Credit card is applicable to be developed in this modern era that demands simplicity and easiness in a non-cash transaction as an effort to anticipate customer’s consumptive behavior to stay in accordance with the Islamic Shariah, and to promote benefits for all parties. Because murabaha-based credit card meets the five missions of maqashid Shariah i.e., maintaining faith or religion, life, intellect or knowledge, lineage, and wealth or property.