FIQH BANK SYARIAH: A Critical Study on DSN-MUI Fatwa as a Solution to the Problems of Islamic Banking Practices in Indonesia

Abstract

This research is a qualitative research in the form of library research, religion as a symptom of culture with historical and usul al-fiqh (principles of Islamic jurisprudence) approaches, with descriptive analytic research. The Purpose of this research is to find out (1) The position of fatwa within Islamic istinbat law, (2) The contribution of the Indonesian Ulema Council (MUI) upon the development of Islamic Bank in Indonesia, (3) Actualization of DSN-MUI fatwa as problematic solution in the practice ofIslamic bank in Indonesia.

The conclusion of this research are; (1) Fatwa is a part of ijtihad, yet more specific than ijtihad. Since it was given when there is question or problem given at the moment. By that, the position of fatwa within istinbat in Islamic law holds a strategic role in responding and answering every contemporary fiqh question arised. (2) The Indonesian Ulema Council (MUI) initiates Islamic Bank through discussions, seminars and symposium since 1990, in 1992 Muamalah Bank was born as the first Islamic Bank in Indonesia and followed by other Islamic banks. Furthermore, to guarantee the practice of Islamic Bank according to syaria principle, MUI creates Dewan Syariah Nasional ( DSN; National Syariah Council), a fatwa council which specificied to give fatwa toward islamic economy. MUI has given huge contribution toward the establishment of Islamic Bank in Indonesia. (3) DSN-MUI fatwa in islamic banking has already transformed into the Law no. 21 2008 about Islamic Banking and Indonesian Bank Regulation (PBI). The transformation made DSN-MUI has strong law power, however there are practices of Islamic bank that contradict toward the fatwa of DSN-MUI, whereas Bank of Indonesia (BI) and Syaria Investigator Council (DPS) supervised them. The fatwa of DSN-MUI has not become the problem solution toward the practice of Islamic Banking in Indonesia. Hence, further solution should be given so that society will have faith toward the practice of Islamic banking to avoid usury in islamic banking.