Analisis Hybrid Contract Pada Sukuk Tabungan Seri ST012 Perspektif Fikih Muamalah
Abstract
Abstract
Sukuk savings series ST012 is an SBSN issued using a Hybrid Contract in the form of wakalah, ijarah, bai', and wa'd contracts. The Hybrid Contract has been widely studied by Fuqaha which is generally referred to as al-'Uqud al-Murakkabah. However, some scholars prohibit implementing hybrid contracts based on the hadith of the prophet such as the concept of shafqataini fi shafqatin, bai' wa salaf, and bai'ataini fi bai'atin. So this study aims to examine the law of issuing sukuk savings series ST012 from the perspective of muamalah fiqh. This study uses a literature study method, with a normative approach sourced from books, journals, laws, DSN-MUI Fatwas, and other sources relevant to the research object. The results of the research show that the ST012 series savings sukuk are included in al-'Uqud al-Murakkabah, the contracts of which cannot be separated or are interrelated (al-'Uqud al-Mutaqabilah). In practice, ST012 is by Sharia provisions because the contracts are not contradictory (mutanaqidhah). This means that there is no element of gharar, mutual pleasure, and benefits the parties.
Keywords: Sukuk Savings, Hybrid Contract, ST012.
Abstrak
Sukuk tabungan seri ST012 merupakan SBSN yang diterbitkan menggunakan Hybrid Contract yaitu berupa akad wakalah, ijarah, bai’, dan wa’d. Adapun Hybrid Contract telah banyak dikaji oleh para Fuqaha yang umumnya disebut dengan istilah al-‘Uqud al-Murakkabah. Akan tetapi Sebagian ulama melarang pelaksanaan hybrid contract berdasarkan hadis nabi seperti pada konsep shafqataini fi shafqatin, bai’ wa salaf, dan bai’ataini fi bai’atin. Sehingga penelitian ini bertujuan untuk mengkaji hukum penerbitan sukuk tabungan seri ST012 perspektif fikih muamalah. Penelitian ini menggunakan metode studi kepustakaan, dengan pendekatan normatif yang bersumber dari buku, jurnal, undang-undang, Fatwa DSN-MUI dan sumber lain yang relevan dengan objek penelitian. Hasil dari penelitian menunjukan bahwa sukuk tabungan seri ST012 termasuk dalam al-‘Uqud al-Murakkabah yang di antara akad-akadnya tidak dapat dipisahkan atau saling berkaitan (al-‘Uqud al-Mutaqabilah). ST012 dalam praktiknya telah sesuai dengan ketentuan syariah karena akad-akadnya tidak berlawanan (mutanaqidhah). Maknanya tidak terdapat unsur gharar, saling rida, dan menguntungkan para pihak.
Kata Kunci: Sukuk Tabungan, Hybrid Contract, ST012.
Keywords
Full Text:
PDF (BAHASA INDONESIA)References
Buku
AAOIFI. (2015). Shari’ah Standards: Full Text of Shari’ah Standards for Islamic Financial. Manama: _e Accounting and Auditing Organization for Islamic Financial Institutions.
Al-’Imrani, A. bin M. bin A. (2010). Al-’Uqud al-Maliyah al-Murakkabah, Dirasah Fiqhiyyah Ta’shiliyah wa Tathbiqiyah (II). Riyadh: Dar Kunuz Isybiliya. https://archive.org/details/mknyv3/page/n189/mode/2up?view=theater
Al-Muzany, A. I. I. bin Y. (2009). Mukhtashar Al-Muzany (2nd ed.). Beirut: Dar Al-Fikr. https://shamela.ws/book/1661/95#p11
An-Nasa’i, A. bin S. (1930). Sunan An-Nasa’i: Hadis Nomor 4632 (7th ed.). Kairo: Maktabah al-Tijariat al-Kubra. https://shamela.ws/book/829/6768#p3
Ayyub, S. H. (2010). Fiqh Al-Mu’amalah Al-Maliyah Fi Al-Islami. Kairo: Dar As-Salam. https://ia803401.us.archive.org/16/items/fiqh12001/fiqh12666.pdf
Djunaidi, M., & Almansur, F. (2017). Metodologi Penelitian Kualitatif. Yogyakarta: Ar-Ruzz Media.
Faruq, U. (2021). Pamekasan: Manajemen Keuangan Syariah. Duta Media Publishing.
Hanbal, A. bin M. bin. (1990a). Musnad Imam Ahmad bin Hanbal: Hadis Nomor 3783 (4th ed.). Kairo: Dar al-Hadis. https://shamela.ws/book/98139/1706
Hanbal, A. bin M. bin. (1990b). Musnad Imam Ahmad bin Hanbal: Hadis Nomor 6628 (6th ed.). Kairo: Dar al-Hadis. https://shamela.ws/book/98139/2984
Keuangan, K. (2024a). Memorandum Informasi Sukuk Tabungan Seri ST012T2.
Keuangan, K. (2024b). Memorandum Informasi Sukuk Tabungan Seri ST012T4.
Milles dan Huberman. (1992). Analisis Data Kualitatif. Jakarta: Indonesia Press.
Muhaimmin. (2020). Metode Penelitian Hukum. Mataram: Mataram University Press.
Jurnal
Almaskati, N. (2022). Sukuk Versus Bonds: New Evidence From The Primary Market. Borsa Istanbul, 22(5), 1. https://doi.org/https://doi.org/10.1016/j.bir.2022.06.005
Jureid. (2020). Akad Ganda (Hybrid) Dalam Perspektif Fiqh Muamalah (Analisis Hadis). J-Mabisya, 1(1), 70.
Mulyani, R., & Setiawan, I. (2020). Sukuk Ritel Negara Instrumen Investasi Halal Untuk Membangun Negeri. Iqtisadiya: Jurnal Ekonomi Islam, 7(14), 76–77.
Primanilisa, S. K., & Fadhil, R. (2020). Analisis Penerapan Akad Wakalah Pada Produk Pendanaan Sukuk Tabungan ( Sbsn ) Melalui Layanan Financial Technology Syariah ( Studi Kasus PT . Investree Radhika Jaya ). Al-Mizan, 4(2), 57–58.
Sayuti, M. N. (2019). Kontekstualisasi Rasio Logis Hybrid Contract: Upaya Penguatan Persepsi Masyarakat Terhadap Bank Syariah. Al-Iqtishadiyah, 5(2), 117.
Sumarjoko, & Ulfa, H. (2019). Kaidah Fiqh Bidang Mu’amalah Mazhab Syafi’i (Kajian Teoritis dan Praktik serta Kehujjahannya). Jurnal Iqtisad, 6(1), 42.
Wahab, A., & Mahdiya, I. (2020). Identifikasi Konsep Al-’Uqud Al-Murakkabah Dan Al’Uqud Al-Muta’addidah Dalam Muamalah Kontemporer. Islamadina, 21(1), 10.
Website/Internet
Kemenkeu, D. (2024). ST012 Pilihan Berharga Untuk Kemandirian Bangsa. Djppr.Kemenkeu.Go.Id. https://www.djppr.kemenkeu.go.id/sukuktabungan
DOI: http://dx.doi.org/10.21043/tawazun.v7i2.28990
Refbacks
- There are currently no refbacks.
Copyright (c) 2025 TAWAZUN : Journal of Sharia Economic Law
Tawazun: Journal of Sharia Economic Law has been Indexed by :
Tawazun: Journal of Sharia Economic Law by Sharia Economic Law Department, Sharia Faculty, State Islamic Institute of Kudus, Kudus, Indonesia is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.