Consistency of Sharia Asset Development with Gold Investment Financing at BMT: Case Study of Murabahah Contract Against Sharia Accounting
DOI:
https://doi.org/10.38035/dijefa.v6i1.3941Keywords:
Sharia Consistency, Asset Development, Sharia Investment, BMT, Murabahah Contract, Maqashid Sharia Theory, Maslow's Hierarchy of Needs TheoryAbstract
This study aims to analyze the consistency of sharia in the development of assets with gold investment financing at BMT with a case study on the Murabahah contract. The research method used is a qualitative approach with data collection techniques through interviews and observations. The study shows that the implementation of the principles of sharia contracts in the Murabahah contract at BMT is still not fully sharia after being integrated with the Maqashid Sharia Theory by Asy-syatibi which involves Maslow's Hierarchy of Needs Theory. This is caused by several factors such as a lack of understanding of the principles of sharia transaction contracts, weak supervision of the sharia board at the institution. To improve sharia consistency in the development of assets with gold investment financing at BMT through the Murabahah contract, it is recommended that BMT improve the understanding and competence of its workforce in the principles of sharia economics, strengthen the supervision system, and conduct dialogue and consultation with sharia law experts in order to obtain a more precise and consistent view in the interpretation of sharia transactions. It is hoped that the results of this study can provide benefits for BMT in improving sharia consistency in the development of assets with gold investment financing.
References
Abdullah, N., & Mohamed, R. (2020). Shariah Governance Practices in Islamic Banks: A Comparative Analysis. International Journal of Islamic Economics and Finance Studies, 6(1), 35-52.
Abubakar, A., & Ahmed, H. (2018). Determinants of Shariah Compliance in Islamic Banks: Evidence from Nigeria. Journal of Islamic Accounting and Business Research, 9(2), 213-229.
Alsharif, A. (2019). The Role of Shariah Supervisory Board in Ensuring Shariah Compliance in Islamic Banks. Journal of Islamic Banking and Finance, 36(3), 356-377.
Ali, A. A., & Mustafa, M. Y. (2017). Enhancing Shariah Compliance in Islamic Banks: A Case Study of Malaysia. Journal of Islamic Finance, 6(2), 50-61.
Bakar, M. A. A., & Sufian, F. (2020). Shariah Governance and Bank Performance: Evidence from Islamic Banks in Southeast Asia. Journal of Islamic Accounting and Business Research, 11(2), 265-282.
Elasrag, H., & Abozaid, A. (2018). Determinants of Shariah Compliance in Islamic Banks: Evidence from Egypt. Journal of Islamic Accounting and Business Research, 9(1), 52-69.
El-Khazali, R., & Hassan, K. (2019). Determinants of Shariah Compliance in Islamic Banks: Evidence from GCC Countries. Journal of Islamic Accounting and Business Research, 10(4), 551-570.
Gunawan, J., & Subiyanto, D. (2018). Shariah Compliance and Performance of Islamic Banks: A Comparative Study between Indonesia and Malaysia. Journal of Islamic Finance and Business Research, 7(1), 1-14.
Hasan, Z., & Siddiqui, K. (2020). Determinants of Shariah Compliance in Islamic Banks: Evidence from Pakistan. Al-Iqtishad: Journal of Islamic Economics, 12(1), 19-40.
Ibrahim, I., & Al-Qaralleh, H. (2017). Factors Influencing Shariah Compliance in Islamic Banks: Evidence from Jordan. International Journal of Business and Society, 18(1), 145-162.
Iqbal, M., & Ahmad, M. (2018). The Role of Shariah Supervisory Board in Shariah Compliance of Islamic Banks. Journal of Islamic Business and Management, 8(1), 1-16.
Ismail, R., & Hassan, T. (2019). Shariah Compliance of Islamic Banks: A Comparative Analysis between Malaysia and Saudi Arabia. Journal of Islamic Marketing, 10(1), 28-43.
Karim, R. A., & Hassan, M. K. (2020). The Impact of Shariah Compliance on the Financial Performance of Islamic Banks: Evidence from Southeast Asia. Journal of Islamic Accounting and Business Research, 11(4), 659-676.
Mahmood, N., & Usman, A. (2018). Determinants of Shariah Compliance in Islamic Banks: Evidence From Pakistan. International Journal of Economics, Management and Accounting, 26(1), 1-22. 15. Mansour, W., & Mustafa, M. (2017). Determinants of Shariah Compliance in Islamic Banks: Evidence from Sudan. Journal of Islamic Accounting and Business Research, 8(4), 397-414.
Mohammed, A. Y., & Sufian, F. (2020). Determinants of Shariah Governance in Islamic Banks: Evidence from the Gulf Cooperation Council Countries. Journal of Islamic Accounting and Business Research, 11(5), 1017-1036.
Muhammad, A., & Rizwan, M. (2018). Shariah Compliance and Performance of Islamic Banks: A Comparative Study of Malaysia and Pakistan. Journal of Islamic Accounting and Business Research, 9(3), 332-349.
Mustafa, M. Y., & Ali, A. A. (2019). The Effectiveness of Shariah Supervisory Board in Ensuring Shariah Compliance in Islamic Banks: Evidence from Malaysia. Journal of Islamic Finance, 8(1), 53-63.
Nor, M. M., & Rosly, S. A. (2020). Determinants of Shariah Compliance in Islamic Banks: Evidence from Malaysia. Journal of Islamic Accounting and Business Research, 11(3), 415-434.
Othman, R., & Abdullah, N. (2017). Shariah Governance Practices and Performance of Islamic Banks: Evidence from Malaysia. Journal of Islamic Finance, 6(1), 1-12.
Rahman, M. A., & Nasir, N. (2018). The Role of Shariah Supervisory Board in Ensuring Shariah Compliance in Islamic Banks: Evidence from Bangladesh. Journal of Islamic Accounting and Business Research, 9(1), 5-21.
Raziq, M. A., & Ahmed, H. (2019). Shariah Governance Practices in Islamic Banks: Evidence from Pakistan. Journal of Islamic Banking and Finance, 36(2), 228-249.
Rosman, R., & Ibrahim, M. S. (2018). Factors Influencing Shariah Compliance in Islamic Banks: Evidence from Southeast Asia. Journal of Islamic Banking and Finance, 35(3), 382-402.
Sabri, M. F. M., & Shafie, R. (2020). Determinants of Shariah Compliance in Islamic Banks: Evidence from Indonesia. Journal of Islamic Accounting and Business Research, 11(1), 89-106.
Saeed, A., & Al-Khasawneh, J. (2018). The Role of Shariah Governance in Ensuring Shariah Compliance in Islamic Banks: Evidence from the UAE. Journal of Islamic Accounting and Business Research, 9(3), 384-402.
Samad, A., & Hassan, M. K. (2017). Determinants of Shariah Compliance in Islamic Banks: Evidence from Bangladesh. Journal of Islamic Accounting and Business Research, 8(3), 246-263.
Shafiai, S. H., & Rashid, R. A. (2019). Shariah Governance and Shariah Compliance in Islamic Banks: Evidence from Malaysia. Journal of Islamic Accounting and Business Research, 10(2), 202-222.
Siddiqi, M. N., & Sabri, M. F. M. (2019). Determinants of Shariah Compliance in Islamic Banks: Evidence from Malaysia. Journal of Islamic Finance, 8(2), 87-96.
Sukri, S., & Ismail, A. G. (2018). Shariah Governance and Shariah Compliance in Islamic Banks: A Comparative Analysis of Malaysia and Indonesia. Journal of Islamic Accounting and Business Research, 9(4), 493-511.
Syed, A. A., & Mohamed, R. (2020). The Impact of Shariah Governance on the Financial Performance of Islamic Banks: Evidence from GCC Countries. International Journal of Economics, Management and Accounting, 28(2), 273-291.
Tariq, H., & Abbas, A. (2017). Determinants of Shariah Compliance in Islamic Banks: Evidence from the United Kingdom. Journal of Islamic Banking and Finance, 34(3), 350-370.
Umar, M., & Saleh, N. M. (2018). Determinants of Shariah Compliance in Islamic Banks: Evidence from Nigeria. Journal of Islamic Finance, 7(2), 27-35.
Usman, A., & Zainol, Z. A. (2020). Shariah Governance and Performance of Islamic Banks: Evidence from Southeast Asia. Journal of Islamic Accounting and Business Research, 11(5), 913-932.
Wahab, N. A., & Yousuf, M. (2019). Determinants of Shariah Compliance in Islamic Banks: Evidence from Qatar. Journal of Islamic Accounting and Business Research, 10(5), 709-726.
Wibowo, A., & Zainol, Z. A. (2018). Determinants of Shariah Compliance in Islamic Banks: Evidence from Indonesia. Journal of Islamic Accounting and Business Research, 9(4), 564-583.
Yahya, M. H., & Salim, R. A. (2017). Determinants of Shariah Compliance in Islamic Banks: Evidence from Bahrain. Journal of Islamic Banking and Finance, 34(2), 240-261.
Yousaf, I., & Hassan, K. (2018). Factors Influencing Shariah Compliance in Islamic Banks: Evidence from Oman. Journal of Islamic Banking and Finance, 35(2), 223-243.
Zainol, Z. A., & Hassan, M. K. (2019). Shariah Compliance in Islamic Banks: A Meta-Analysis. Journal of Islamic Accounting and Business Research, 10(3), 384-403.
Zakaria, N. M., & Yusoff, W. S. W. (2020). Determinants of Shariah Compliance in Islamic Banks: Evidence from Malaysia. Journal of Islamic Finance, 9(2), 77-87.
Zubairu, A. B., & Sanusi, N. (2018). Determinants of Shariah Compliance in Islamic Banks: Evidence from Nigeria. Journal of Islamic Accounting and Business Research, 9(4), 512-531.
Downloads
Published
How to Cite
Issue
Section
License
Copyright (c) 2025 Tri Asti Sari Putri, Erma Setiawati, Rina Trisnawati
This work is licensed under a Creative Commons Attribution 4.0 International License.
Authors who publish their manuscripts in this journal agree to the following conditions:
- The copyright on each article belongs to the author(s).
- The author acknowledges that the Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) has the right to be the first to publish with a Creative Commons Attribution 4.0 International license (Attribution 4.0 International (CC BY 4.0).
- Authors can submit articles separately, arrange for the non-exclusive distribution of manuscripts that have been published in this journal into other versions (e.g., sent to the author's institutional repository, publication into books, etc.), by acknowledging that the manuscript has been published for the first time in the Dinasti International Journal of Economics, Finance & Accounting (DIJEFA).
