Volume 2, No. 7 July 2024 p-ISSN 3032-3037| e-ISSN 3031-5786
Revitalization of Ijarah Agreements in Islamic Banking
Service Products
Juhrotul Khulwah
Universitas Islam Negeri Raden Intan Lampung,
Indonesia
Email: Juhrotul.khulwah@radenintan.ac.id
Abstract
This paper explores the revitalization of the ijarah contract in Islamic
banking, focusing on its contemporary applications and implications in Islamic
law (muamalah fiqh). The ijarah contract, historically used for leasing
tangible assets, has evolved into modern forms such as ijarah muntahiyah bi
al-tamlik (IMBT) and multi-service ijarah. IMBT incorporates an option for the
lessee to purchase the leased asset at the end of the contract, catering to
diverse financial capacities. On the other hand, multi-service ijarah extends
beyond tangible assets to encompass services like education and healthcare
financing. Through a qualitative literature review, this research underscores
the importance of adapting Islamic financial instruments to contemporary
societal needs. It discusses the legal foundations of ijarah, drawing from
Quranic verses, Hadiths, and contemporary legal frameworks such as Islamic
banking laws. The study also elucidates the principles and conditions governing
ijarah contracts, highlighting their flexibility and applicability in diverse
economic contexts. The findings underscore that the revitalization of ijarah
contracts has enabled Islamic banking to offer innovative financial solutions
while adhering to Sharia principles. By integrating traditional Islamic
contracts with modern financial practices, Islamic banks can meet the evolving
demands of society effectively. This research contributes to the understanding
of Islamic finance by showcasing the adaptability and relevance of ijarah
contracts in contemporary economic environments.
Keywords: Ijarah Contract, Islamic Banking
Service Products, Revitalization
Introduction
Muamalah fiqh is a fiqh that discusses
human-to-human transactions in relation to Islamic law
One of the products of distributing funds
from Islamic banks to customers is financing based on lease agreements or lease
contracts (ijarah)
Islamic banking is
greatly helped by the revitalization of existing contracts in Islamic law
because to innovate and emerge new products, Islamic banking needs to adjust,
and sometimes it is necessary to combine existing contracts in Islamic economic
law so that it can keep up with the times and meet the increasingly complex
needs of society.
If the community dwells
only on the classic ijarah contract, the ijarah contract itself will not
develop and will not provide much benefit to the community. With the
revitalization of the ijarah contract, it is hoped that the institution can
further develop many products by using the ijarah contract and provide more
benefits for the wider community. According to contemporary jurists and experts
in Islamic finance, Ijarah has great potential as an alternative to interest in
a financial system that is in accordance with the developing Islamic law.
Ijarah is permissible according to the ijma' of the scholars and the jurists
The primary objective of this research is to
explore and analyze the revitalization of ijarah contracts within Islamic
banking. It aims to examine how traditional ijarah contracts have evolved to
meet contemporary societal needs, particularly through adaptations like ijarah
muntahiya bit tamlik (IMBT) and multi-service ijarah. By conducting a
qualitative literature review, the study seeks to elucidate the legal
foundations, principles, and conditions governing ijarah contracts in Islamic law
(muamalah fiqh). Furthermore, it aims to highlight how the revitalization of
ijarah contracts enables Islamic banks to innovate and develop new financial
products that adhere to Sharia principles while addressing the complex economic
needs of modern society. Through this exploration, the research aims to
contribute to the understanding of Islamic finance and its relevance in
contemporary economic environments.
Research Methods
This
research uses a literature study, namely by looking for relevant data. A
Literature Review is a description or description of literature that is
relevant to a certain field or topic. The literature provides an overview of
what has been discussed or talked about by the author, the theories and
hypotheses that support it, the research problems proposed or asked, and the
appropriate methods and methodologies. The approach used is a qualitative
approach.
The reference to the theory obtained is to use
literature studies and then used as a tool to analyze data. The type of data
used using secondary data is obtained from journals, books, and the internet.
The author uses the descriptive analysis method, namely analyzing and
describing the data obtained and providing an understanding of the problems
taken.
Results and Discussion
The term ijarah comes from the word ajr,
which means 'awdh (change), so tsawab (reward) is often also called ajr (wage).
Meanwhile, in terms of ijarah, it means a type of contract to benefit from the
way of replacement. Almost the same meaning is also stated by Hanafiyyah, which
states that ijarah means an agreement on a benefit with its successor.
Ijarah
the meaning of bay' al-manfa'ah, which is buying and selling between malls with
benefits. Here it can be seen that there is a difference between bai' and
ijarah, namely in terms of the object. If the object of buying and selling lies
in the goods themselves, while the object of ijarah lies in the benefits of the
goods. Therefore, the goods that can be used as the object of ijarah are only
the goods that can be taken advantage of.
Ijarah
can be divided into ijarah bi al-quwwah and ijarah bi al-manfaah. Ijarah is
said to be ijarah bi al-quwwah if what is rented is in the form of services or
human labor, while ijarah bi al-manfaah if what is rented is in the form of
goods. However, the two ijarahs have the same principles, namely renting or
renting something
The
legal basis of ijarah is in the Qur'an passage Surah At-thalaq (65) verse 6;
فَاِنْ
اَرْضَعْنَ
لَكُمْ
فَاٰتُوْهُنَّ
اُجُوْرَهُنَّۚ
"Then if they nurse
(children) for you, then give them their reward"
And the hadith about wages,
narrated by Ibn Umar r.a.:
حَدَّثَنَا
الْعَبَّاسُ
بْنُ
الْوَلِيدِ الدِّمَشْقِيُّ
حَدَّثَنَا
وَهْبُ بْنُ سَعِيدِ
بْنِ
عَطِيَّةَ
السَّلَمِيُّ
حَدَّثَنَا
عَبْدُ
الرَّحْمَنِ
بْنُ زَيْدِ
بْنِ
أَسْلَمَ
عَنْ
أَبِيهعَنْ
عَبْدِ اللَّهِ
بْنِ عُمَرَ
قَالَ قَالَ
رَسُولُ
اللَّهِ
صَلَّى
اللَّهُ عَلَيْهِ
وَسَلَّمَ
أَعْطُوا
الْأَجِيرَ أَجْرَهُ
قَبْلَ أَنْ
يَجِفَّ
عَرَقُهُ
"Narrated to us [Al
Abbas bin Al Walid Ad Dimasyqi] said, narrated to us [Wahb bin Sa'id bin Athiah
As Salami] said, narrated to us ['Abdurrahman bin Zaid bin Aslam] from [his
father] from [Abdullah bin Umar] he said, "The Messenger of Allah (peace
and blessings of Allaah be upon him) said: "Give a reward to the worker
before his sweat dries up."
The basis of ijarah products
in positive law can be found in Law Number 10 of 1998 concerning amendments to
Law Number 7 of 1992 concerning banking. We can read this in the provisions of Article
1, paragraph (13), which defines Sharia principles. The legal basis has
specifically been regulated through Law Number 21 of 2008 concerning Islamic
banking, among others, namely, article 1 number (25), which states that
financing is the provision of funds or bills which are equivalent to it in the
form of lease transactions in the form of ijarah or hire purchase in the form
of ijarah muntahiyah bi at-tamlik
According to the majority of scholars, the pillars of ijarah are:
aqid consisting of mu'jir (the person who rents) and musta'jir (the person who
rents), shigat in the form of ijab and qabul, ujrah in the form of rent or
wages and benefits of rented goods. While the ijarah conditions are: the
conditions for the occurrence of the contract (in'iqad conditions) related to
the aqid, the contract, and the object of the contract. The conditions related
to aqid are intellect and puberty. The condition for the continuity of the
contract (nafadz) is the fulfillment of property rights or territory (power).
The conditions for the validity of ijarah consist of the agreement of both
parties, the object of the contract must be beneficial, the object of the
contract must be fulfilled, the benefits of the object of the contract must be
the benefits allowed by the sharia', the object that is rented must be avoided
from defects
There are two types of ijarah, namely, ijarah for the benefit called
renting rent; in this case, the object of the contract is the benefit of an
object. The second ijarah on work, which is called wages; in this case, the
object of the contract is a person's practice or work. Al-ijrah, which is
beneficial, for example, renting a house, vehicle, clothes, and jewelry. If the
benefit is a benefit that is allowed by the sharia to be used, then the jurists
agree that it can be used as an object of rent.
Al-ijarah, which is a job,
is employing someone to do a job. Al-ijarah like this, the law is permissible
if the type of work is clear, such as construction workers, tailors, factory
workers, salon workers, and so on. A-ijarah like this is usually private, such
as paying a housekeeper, and a union one, that is, a person or a group of
people who sell services for the benefit of the public, such as pouring brooms,
factory workers, and so on. The majority of scholars allow the two ijarah above
Ijarah Muntahiyah Bi Al Tamlik
The definition of ijarah muntahiyah bi al tamlik is: a lease
agreement accompanied by an option to transfer ownership of the property leased
to the tenant after the completion of the lease period. In other words, ijarah
muntahiyah bi al tambik is a contract for distributing funds for the transfer
of use rights (benefits) to an item within a certain time with the payment of
rent (ujroh), between the finance company as the lessor (mu'ajjir) and the
lessee (musta'jir) along with the option of transferring the ownership of the
goods to the tenant after the completion of the lease period. The nature of
this transfer of ownership is what distinguishes it from ordinary ijarah
In ijarah muntahiya bi al tamlik, the transfer of property rights
occurs in two ways, namely: first, the lessor promises to sell the leased goods
at the end of the lease period, second, the lessor promises to donate the
leased goods at the end of the lease period. The option to sell goods at the
end of the lease period is usually taken when the tenant's financial ability to
pay rent is relatively small. Because the rent paid is relatively small, the
accumulated rental value that has been paid until the end of the rental period
is not enough for the purchase price of the goods and the profit margin set by
the bank. Therefore, to reduce the shortage, if the tenant wants to own the
item, he must buy the item at the end of the period. Meanwhile, the option to
donate goods at the end of the lease period is usually taken if the tenant's
financial ability to pay rent is relatively large. Because the rent paid is
relatively large, the accumulated rent at the end of the lease period is
sufficient to cover the price of goods and the profit margin set by the bank.
Ijarah Multijasa
In addition to ijarah muntahiyah bi al-tamlik, there are also other
ijarah such as multi-service ijarah, multi-service ijarah is financing provided
by LKS (Sharia Financial Institution) to customers in obtaining benefits for a
service. The law of multi-service ijarah financing is permissible (jaiz) by
using an ijarah contract or kafalah
The use of teaching contracts in products in Islamic banking is in
great demand by the community, because even though it uses sharia principles,
it still develops products that are in accordance with the needs of the
community, such as the use of the muntahiyah bi al-tamlik ijarah contract which
is commonly used by the community to own houses, motorbikes, cars and other
needs, while the multi-service ijarah contract is also no less often used by
the community, such as paying for
school, health costs and so on. With the advent of the revitalization of ijarah
contracts in Islamic banking products, it is hoped that it can provide more
benefits as much as possible, and can provide solutions to a wide range of
problems.
Conclusion
The
revitalization of ijarah contracts carried out by Islamic banking is very
helpful for the community in meeting needs and solving problems in daily life,
with two forms of ijarah contract revitalization carried out, namely the
muntahiyah bi al-tamlik ijarah contract and multi-service ijarah, the two forms
of ijarah contract revitalization have resulted in many products, such as
sharia leasing, which is commonly used for cars, motorcycles and houses and
multi-service ijarah which can be used to fulfill daily needs such as paying
for school, health financing, marriage and others.
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Juhrotul
Khulwah (2024) |
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First publication right: Advances in Social Humanities Research |
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