DEBT CHARACTERISTICS IN FINANCING BASED ON PROFIT SHARING PRINCIPLES IN SHARIA BANKS
Universitas Airlangga
Universitas Airlangga
Universitas Airlangga
Universitas Airlangga
DOI:
https://doi.org/10.56943/jssh.v4i2.764One of the fundamental principles underlying financing in sharia banks is the principle of profit sharing, specifically in mudharabah and musyarakah contracts. These financing schemes are characterized by the sharing of business profits and losses. However, the term “debt” appears in the clauses of mudharabah and musyarakah financing contracts in sharia banks and in several Religious Court decisions. In fact, financing based on the profit-sharing principle constitutes a partnership between capital and labor, not a debt or credit contract. Therefore, in mudharabah financing, if a loss occurs that is not due to the negligence of the capital manager (mudharib), it is borne by the capital owner (shahibul maal), whereas in musyarakah financing, losses are borne jointly. This study examines the issue of debt in financing based on the profit-sharing principle. The approaches employed include statutory, conceptual, and case law analysis. The term “debt” in this context refers to an outstanding obligation in the form of financing capital and the profit-sharing portion derived from the ongoing business income of the mudharib, which is the rightful share of the shahibul maal. However, the profit-sharing portion from a business that has ceased operations is not considered a debt that the mudharib is obligated to repay to the shahibul maal.
Keywords: Debt Mudharabah Musyarakah Profit Sharing
Abbas, A., & Arizah, A. (2019). Marketability, profitability, and profit-loss sharing: evidence from sharia banking in Indonesia. Asian Journal of Accounting Research, 4(2), 315–326. https://doi.org/10.1108/AJAR-08-2019-0065
Andria, J., Darmawan, D., & Azhari, A. (2019). The Implementation of Musyarakah by PT Bank Aceh Branch of Banda Aceh, Indonesia. Sriwijaya Law Review, 99–110. https://doi.org/10.28946/slrev.Vol3.Iss1.195.pp99-110
Andriyana, D. (2020). Konsep Utang Dalam Syariat Islam. Jurnal Al-Fatih Global Mulia, 2(2), 49–64. https://doi.org/10.59729/alfatih.v2i2.22
Berry-Stölzle, T. R., Eastman, E. M., & Xu, J. (2018). CEO Overconfidence and Earnings Management: Evidence from Property-Liability Insurers’ Loss Reserves. North American Actuarial Journal, 22(3), 380–404. https://doi.org/10.1080/10920277.2017.1421977
Bulek, M. J., Mursal, M., & Julhadi, J. (2025). Implementation of the Mudharabah Contract at Ujung Gading Market, West Pasman Regency. Sharia Oikonomia Law Journal, 3(1), 20–29. https://doi.org/10.70177/solj.v3i1.1879
Dudchenko, V. (2015). External Public Debt in the Financial System: The Practice of National and Foreign Formation. Economic Annals-XXI, 7–8(1), 86–89.
Henry Campbell Black, B. A. G. (1999). Black’s Law Dictionary. West Group St. Paul, MN.
Hirsanuddin. (2008). Hukum Perbankan Syariah: Pembiayaan Bisnis dengan Prinsip Kemitraan. Genta Press.
Horder, J. (2025). Corporate Criminal Liability under the Economic Crime and Corporate Transparency Act 2023. Legal Studies, 45(1), 133–148. https://doi.org/10.1017/lst.2024.46
Jaffar, M. M., Zain, S. M., & Jemain, A. A. (2017). Diminishing musyarakah investment model based on equity. 020003. https://doi.org/10.1063/1.5012143
Karim, A. A. (2007). Bank Islam: Analisis Fiqih dan Keuangan. RajaGrafindo Persada.
Keuangan, O. J. (2025). Statistik Perbankan Syariah – Februari 2025.
Li, J., Jiao, C., Nicholas, S., Wang, J., Chen, G., & Chang, J. (2020). Impact of Medical Debt on the Financial Welfare of Middle- and Low-Income Families across China. International Journal of Environmental Research and Public Health, 17(12), 4597. https://doi.org/10.3390/ijerph17124597
Robert, R., Sunarmi, S., Harianto, D., & Azwar, K. D. (2016). Konsep Utang dalam Hukum Kepailitan Dikaitkan dengan Pembuktian Sederhana (Studi Putusan No: 04/pdt.sus.pailit/2015/pn.niaga.jkt.pst). USU Law Journal, 4(4).
Simon, S., Tony, S., & Arun, S. (2025). Accountants ’ Negligence and Liability : Second Edition.
Sjahdeini, S. R. (2009). Hukum Kepailitan: Memahami Undang-Undang Nomor 37 Tahun 2004 tentang Kepailitan. Pustaka Utama Grafiti.
Usanti, T. P. (2015). Pengantar Perbankan Syariah. Revka Petra Media.
Usanti, T. P., & Roro, F. S. R. (2021). DEFAULT/BREACH OF CONTRACT CHARACTERISTICS OF MUDHARABAH FINANCING IN SHARIA BANKING. Journal of Islamic Law Studies, 2(3).