Sharia banking doctoral program holds webinar on sharia bank financing
Rectorate, UIN News Online – Sharia banking doctoral program of the Economic and Business Faculty (FEB) UIN Jakarta in collaboration with UIN Jakarta alumni association (IKALUIN) holds webinar entitled “Analisis Faktor Dispute Pembiayaan Bank Syariah dan Strategi Formulasi Pembiayaan Syariah Berbasis Maqashid Syariah”. This webinar aims to respond academically and objectively to the rise of issues related to Islamic bank financing which are considered "more cruel" than conventional banks.
“The issue was raised by a businessman, so it came to the surface and provoked a lot of polemics. Therefore, this webinar will discuss financing issues in Islamic banking,” said department head of Sharia Banking doctoral program Euis Amalia on Thursday (08/05/2021).
The webinar was also attended by a number of resource persons, such as Islamic banking practitioners, legal practitioners, and academics. They are Amran Suadi (Chairman of the Religious Courts of the Supreme Court of the Republic of Indonesia), Herbudi S Tomo (Executive Director of the Association of Indonesian Sharia Banks), Taufik Hidayat (Director of Sharia Financial Services of the National Sharia Economics Committee), Riawan Amin (Senior Practitioner of Sharia Banks), Agustianto Mingka (Director of Iqtishad Counsulting), and M. Iman Sastra Mihajat (Head of Shariah Al Izz Islamic Bank, Oman).
The Dean of FEB Amilin in his speech revealed the importance of this Webinar for the study of the field of Sharia Science. FEB, he said, is always committed to developing the Islamic Banking Study Program, both for the undergraduate (bachelor's), master's and doctoral programs. Meanwhile, the General Chairperson of IKALUIN, TB Ace Hasan Syadzili, who is also a Member of the Indonesian House of Representatives Commission VIII, stated that IKALUIN is committed to developing bank literacy and sharia finance. Even IKALUIN will also continue to provide guidance to improve the competence of alumni in the field of Islamic finance.
The same will be done by UIN Jakarta, as conveyed by Vice Rector for General Administration Ahmad Rodoni in his speech representing UIN Jakarta Chancellor Amany Lubis who is unable to attend. Ahmad Rodoni expressed his support for the Webinar while hoping that the results of the Webinar could contribute ideas to the development of the Islamic economy, both in the field of Islamic banking and other Islamic financial institutions.
“I strongly support the presence of the Islamic Banking Doctoral Program at FEB where the curriculum developed is oriented not only to examine Islamic banking issues but also other Islamic financial institutions,” said Ahmad Rodoni.
Amran Suadi in his presentation emphasized the importance of the role of the Religious Courts as a choice of law in an effort to resolve disputes that occur between customers and Islamic banking in litigation as stated in Articles 49 and 52 of Law (UU) No. 50 of 2009 concerning the second amendment to Law no. 7 of 1989 concerning Religious Courts. The law has absolute competence for dispute resolution in the field of Sharia Economic Law.
Herbudi S Tomo, who spoke about the development of Islamic banking in Indonesia, said that the factors for the occurrence of disputes in Islamic banks were due to low literacy, perception, and regulatory problems. He also explained that the synergy between academics, Islamic banking practitioners, customers, law enforcement, and regulators in an effort to develop the Islamic banking ecosystem in Indonesia is important and needs to be strengthened.
The same thing was also stated by Taufik Hidayat who spoke about the role of the National Sharia Economics Committee (KNEKS) in its efforts to improve literacy, education, inclusion, and program efforts oriented towards creating a conducive ecosystem for Islamic finance in Indonesia. He analyzed a number of dispute cases that had occurred between customers and Islamic banking.
“The emergence of the dispute is based more on the factors of different perceptions and levels of customer understanding of Islamic banking, especially regarding the construction of contracts (akad) used in Islamic banks,” he said
Meanwhile, according to Riawan Amin, customers need to understand the importance of the position of Islamic banks that prioritize justice and benefit and avoid transactions that contain elements of usury, haram, gharar (deception), and maisir (speculation). Instead, sharia-based transactions were developed.
Riawan also stated the importance of effective marketing and communication strategies to identify and understand the needs of Islamic bank customers. He emphasized that Islamic banking practitioners must get out of the paradigm of conventional bankers' thinking to approach their customers in ways that are in accordance with Islamic teachings.
From the point of view of the Muamalat Fiqh approach, Agustianto Mingka said, the concept of maqashid sharia (sharia goals) within the framework of Islamic bank financing, discounts (muqashah) can be given through a financing scheme that will be paid off by the customer sooner than the specified time. He also offered the formulation of schemes in contract construction in Islamic banks, such as syirkah mutanaqisyah (asset ownership cooperation).
Iman Sastra Mihajat explained about the construction of contracts used in Islamic banking internationally, especially in the Middle East such as Oman. For example, he said about the importance of implementing international standards such as Accounting and Auditing Organizations for Islamic Financial Institutions (AAOIFI) in Islamic banks and the application of the concept of sharia governance which is conceptually different from conventional banks. (usa/ns)