Shariah Compliance of Rahn Contract Based in Fatwa National

Islamic Council-Indonesian Council of Ulama (Dsn-Mui) at Pt. Bank

Pembiayaan Rakyat Syariah (Bprs) Karya Mugi Sentosa

Annisa Aulia Yunianti

, Dina Septriani Fitrisia

, Sri Herianingrum

Postgraduate School Universitas Airlangga Surabaya, Indonesia

Keywords: Rahn Contract, Fatwa DSN-MUI, Shariah Compliance.

Abstract: This research aimed to determine the shariah compliance of rahn contract based in Fatwa DSN-MUI at PT.

BPRS Karya Mugi Sentosa. The research object was selected because it is the only Bank Pembiayaan

Rakyat Syariah (BPRS) in Surabaya that only have financing of contract rahn (gold pawn). Qualitative

approach method was used, employing case study strategy. Meanwhile, data was collected by interviews.

Subsequently, analysis techniques used was pairing patterns which has five patterns, it has five patters

towards Fatwa DSN-MUI Based on the analysis, PT. BPRS KMS has qualified the shariah compliance. The

five patterns was marhun utilization, maintenance and storage marhun, marhun cost, sale or auction marhun,

and cost of ijarah

1 INTRODUCTION

Islamic economy concept based on Al-Qur’an and

Al-Hadith is currently experiencing significant

development. In Indonesia, most of people embraces

Islam and give positive responses. Islam is a way of

life, which provides a complete set of rules for

human life including economic issues. As it is

known, economy is one of the factors driving the

growth of a country. According to Bank Indonesia

(BI) in 2013, Indonesian economy is still below 5%.

Despite of that, the assets of sharia banking has

reached Rp 179 trillion or precisely 4.4% compared

to the total assets of the national banking

(www.republika.co.id).

Rahn is one of the products found in Islamic

banks, sharia financing banks, and also sharia

pawnshops that recently enthused by the public. This

is because gold is a product that has increase value

every year. Gold’s increasing value could reach

160% every year or 30% annually. Based on data

from Bank Indonesia of December 2011, the number

of rahn mortgage customer reached 212.300 of the

portfolio total Rp 6.3 trillion (majalahgontor.net).

As in the process, rahn it is not only provided by

non-bank financial institutions or guarantee

institutions such as pawnshops (conventional), but

also. Sharia Rural Bank (BPRS) which become one

of the Islamic financial institutions in Indonesia,

currently experiencing significant growth in line

with the growth of Islamic economics. One of BPRS

in Surabaya, namely PT. Bank Pembiayaan Rakyat

Syariah (BPRS) Karya Mugi Sentosa, located in the

southern part of Surabaya, offers a financing

program, rahn.

Related to that, Dewan Syariah Nasional (DSN)

issued Fatwa to manage the implementation of rahn,

to support its development as an Islamic principles.

It is embodied in Fatwa No. 25/DSN-MUI/III/2002

about Rahn and Fatwa No. 26/DSN-MUI/III/2002

about Gold Rahn.

The Fatwa defines about rahn and gold rahn, as

well as the implementation procedure that must be

followed. Shariah compliance is an important pillar

in the development of sharia institutions. That is a

differentiator between sharia financial institutions

and conventional financial institutions. According to

a survey conducted by The Economist Intellegence

Unit, an independent business and independent

global survey headquartered in London, to no fewer

than 275 senior banking officials from various

countries on compliance systems and processes

concluded that the need for effective compliance

with firms engaged in The banking business today is

very strong compared to the past (Ikatan Bankir

Indonesia, 2014: 358).

908

Yuniarti, A., Fitrisia, D. and Herianingrum, S.

Shariah Compliance of Rahn Contract Based in Fatwa National Islamic Council-Indonesian Council of Ulama (Dsn-Mui) at Pt. Bank Pembiayaan Rakyat Syariah (Bprs) Karya Mugi Sentosa.

DOI: 10.5220/0007553809080912

In Proceedings of the 2nd International Conference Postgraduate School (ICPS 2018), pages 908-912

ISBN: 978-989-758-348-3

2 LITERATURE REVIEW

2.1 Islamic Financial Institutions

Soemitra (2010: 54-55) explains structure of the

system of Islamic financial institutions in Indonesia

consists of bank financial institutions consisting of

Sharia Commercial Bank, Sharia Business Unit, and

Sharia Rural Bank. There are other sharia financial

institutions comprising capital markets, money

markets, insurance companies, pension funds,

venture capital firms, sharia financing institutions

comprising leasing companies, factoring companies,

plastic card companies and consumer finance

companies. There are also in the micro sector, which

consists of Pawnshops, Zakah Management

Institution, Waqf Management Institute, and Baitul

Maal wat Tamwil (BMT).

Rahn

Rahn in Fiqh namely Ar-Rahn, is an agreement

to hold an items as a debt obligation. In arabic, Ar-

Rahn namely ats-tsubut wa ad-dawam which means

permanent and eternal, the meaning of permanent

and eternal is restraining the making of material

goods as bonds of debt (Ali, 2008:1).

Implementation of rahn should be easy and not

complicate the prospective customers who will use

rahn. Implementation of each transaction in a

financial institution is not separated by the

supervision of the Sharia Supervisory Board in each

financial institution.

2.2 Fatwa DSN Majelis Ulama

Indonesia

The application of rahn in Indonesia refers to the

legal basis established by the National Sharia

Council of the Indonesian Council of Ulama (DSN-

MUI) in Fatwa No: 25 / DSN-MUI / III / 2002 Rahn

and also Fatwa No: 26 / DSN-MUI / III / 2002 about

Rahn Gold. The fatwa explains the decisions that

Indonesian scholars have agreed on Rahn, the

decisions taken are:

Fatwa No: 25/DSN-MUI/III/2002

1. The underlying things about the right and duties

of murtahin and rahin. It is explained that

murtahin have rights to hold marhun until rahin

pay all off his debt.

2. Utilization of marhun by both parties. In

principle, marhun and its benefits belong to

rahin, also marhun cannot be transfered to

murtahin except with permission from rahin.

3. Maintenance and storage. Maintenance and

storage of marhun is a liability of rahin, but can

be transferred into obligation murtahin on mutual

agreement.

4. Regarding the charge, in determining the cost of

maintenance and storage shall not be based on

the amount of the borrowing cost.

5. Decision of marhun selling, the decision is made

when rahin cannot pay off its debt. However it

should not be directly sold, murtahin should

warn in advance that it is due. If rahin still

cannot pay off its debts, murtahin can sell

marhun in accordance with sharia principles that

is done auction sharia. The procedures of the

auction are used to pay off the debts of the

womb. If there is a residue, it will become the

right of the womb. However, if the amount

exchanged is less than what it is expected, the

rahin is still obliged to pay off its debt.

Fatwa No: 26/DSN-MUI/III/2002

1. Implementation of gold rahn is allowed based on

the principle of rahn (Fatwa No: 25/DSN-

MUI/III/2002).

2. Fee and cost of storing goods (marhun) is borne

by rahin

3. Fee that mentioned above is based on the

expenditures that clearly required.

4. Cost of storing goods (marhun) is done based on

ijarah agreement.

Sharia Compliance

Sharia Compliance is an absolute requirement

that must be fulfilled by financial institutions

conducting business activities based on sharia

principles. Sharia Compliance is the fulfillment of

all Sharia principles in all activities undertaken as a

manifestation of the characteristics of the financial

institution itself, including in this case the Sharia

Rural Bank (BPRS). Shariah compliance is a major

prerequisite for the operation of Islamic financial

institutions (Ikatan Bankir Indonesia, 2014:359).

3 RESEARCH METHOD

This research used descriptive qualitative approach.

According to Yin (2009: 2) a qualitative approach

using data in the form of written or oral sentences,

events, knowledge or project studies are descriptive.

The scope of this study focused on how compliance

fulfillment of rahn shariah compliance on BPRS

Karya Mugi Sentosa based on National Sharia

Council Majelis Ulama Indonesia (DSN-MUI). The

Shariah Compliance of Rahn Contract Based in Fatwa National Islamic Council-Indonesian Council of Ulama (Dsn-Mui) at Pt. Bank

Pembiayaan Rakyat Syariah (Bprs) Karya Mugi Sentosa

909

data obtained from the interview, observation, and

document studies were then analyzed and processed

based on the theoretical and literature used in this

study.

4 DISCUSSION

4.1 Discussion on Marhun Utilization

Marhun is a guarantee goods deposited by the

customer to the pawnbroker, which in this research

is PT BPRS Karya Mugi Sentosa. According to

Sudarsono (2004: 160) in general pawn goods must

meet several conditions, namely: ust be sellable,

must be a treasure that is not valuable, marhun

should be exploited by sharia, must be known

physical condition, and must be owned by rahin. PT.

BPRS Karya Mugi Sentosa has stipulated the

guarantee goods (marhun) which are allowed to be

guaranteed on the financing product of the gold

contract.

Based on Fatwa No. 25/DSN-MUI/III/2002 in

the first clause it is explained that "loans by

mortgaging goods as collateral in the form of

permissible debt rahn". As long as the contract takes

place marhun stored by PT. BPRS KMS is not

utilized or managed or invested by PT. Syariah

People's Financing Bank (BPRS) Karya Mugi

Sentosa. Utilization of marhun is permitted provided

that the use is obliged to bear the cost of

maintenance as it has been taught by the Prophet

Muhammad SAW

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Adhahru yurkabu nafaqatihi idza kāna

marhūnan, walabanuddara yusrabu binafaqatihi

idzā kāna marhūnan, wa alāldzī yarkabu

wayasrabu nafaqatu

(Hadith Nabi riwayat Jama’ah, except Muslim

dan al- Nasa’i, Nabi s.a.w.)

Based on Fatwa No. 25 / DSN-MUI / III / 2002

second item number two, has also been explained

that "Marhun and its benefits remain the property of

Rahin. In principle, marhun should not be exploited

by murtahin unless the permission of the rahin,

without reducing the value of marhun and its

utilization is just a substitute for maintenance and

maintenance costs ". According to the fatwa which

has been explained, PT BPRS Karya Mugi Sentosa

has implemented Shariah compliance in practice for

the use of marhun and has been in compliance with

the National Sharia Council Fatwa of the Indonesian

Ulema Council.

4.2 Discussion on Marhun

Maintenance and Storage

In the second article of the DSN No.25 / DSN-MUI /

III / 2002 number two explains that "Murtahin (the

recipient of goods) has the right to hold marhun

(goods) until all the debts of the rahin (who deliver

the goods) are paid off". Based on the fatwa, PT.

Sharia Rural Bank (BPRS) Karya Mugi Sentosa is

entitled to keep the customer's guarantee (marhun)

until the financing received by the customer is

settled.

In the second edition of the DSN No.25 / DSN-

MUI / III / 2002, the third number explains that

"Maintenance and storage of marhun is essentially

mandatory, but it can also be done by murtahin,

while the cost and maintenance of storage remain a

liability of rahin" and Fatwa DSN No.26 / DSN-

MUI / III / 2002 of the first item number two

explains that "The cost and the cost of storing goods

(marhun) is borne by the pawns (rahin)". Based on

the fatwa-fatwa, instead of because the BPRS has

stored marhun then PT. Sharia Rural Banks (BPRS)

Karya Mugi Sentosa charge fees based on ijarah

agreement but not burdensome for customers. The

customer pays the cost of the ijarah when it is paid

off.

Based on Fatwa DSN No.25/DSN-MUI/III/2002

second item number one and three also Fatwa

No.26/DSN-MUI/III/2002 first item number two,

PT. BPRS Karya Mugi Sentosa practically has

implemented Shariah compliance for the

maintenance and storage of marhun is in accordance

with the DSN-MUI.

4.3 Discussion of Marhun Cost

Cost determined by PT. BPRS Karya Mugi Sentosa

is the cost of taxation (admin fee). The fee is

payable before, and the cost of ijarah is paid when

the customer repay the financing. Fatwa DSN No.26

/ DSN-MUI / III / 2002 of the first item number

three has been explained that "Fees as intended are

based on real expenditures - real need". The cost of

taxation is a cost that is clearly needed. The taxation

fee is the administrative fee. It is paid at the

beginning implementation of rahn. The cost of

ijarah is the cost determined by PT. BPRS Karya

Mugi Sentosa based on the decision of PT. BPRS

ICPS 2018 - 2nd International Conference Postgraduate School

910

KMS. Customers who use the mortgage financing

will be charged Rp15.000 taxation fee and stamp

Rp6.000, if it is not customer PT. BPRS KMS added

a fee of Rp10,000 for the application. Financing

earned by customers is up to 90% of the estimated

value.

PT. BPRS Karya Mugi Sentosa has calculated

the financing obtained by customers with the

following details:

1. BB means Buy Back which listed in website PT.

Antam (Persero) Tbk. and it can be checked on

daily basis. At July, 6

is Rp 468.000,-

a. HDE (gold basic price) PT. BPRS KMS :

Rp 374.400

Obtained from BB – 20% Rp. 468.000

– 20% = Rp 374.400

b. Estimated Value

It is the calculated cost from HDE PT

BPRS KMS, and it has been covered by.

Bracelet gold grades 75% 75% x 374.400

= Rp 283.600

Ring gold grades 60% 60% x 374.400 =

Rp 227.000

c. Value of Financing

It Is a value that gained from 90% of

estimated value.

Bracelet: 90% x Rp 283.600 = Rp 255.200

Ring : 90% x Rp 227.000 = Rp 204.000

d. Value of Taxation

It is a calculated amount to get the

financing amount:

Bracelet:

636.283400.374

%75

Karat



Rp 283.636 x 7,2gram= Rp 2.042.000

Ring :

000.227400.374

%60

RpxRp

Karat



Rp 227.000 x 1,55 gram= Rp 351.700

e. Loan Value

It is the value of financing provided to

customer with portion 90% of taxation

value.

Bracelet : 90% x Rp 2.042.000 = Rp

1.838.000,-

Ring : 90% x Rp 351.700 = Rp 316.500,-

The amount of financing earned by the customer:

Rp 1.838.000 + Rp 316.500 = Rp 2.150.000

Additional administration fees:

Stamp : Rp 6000,-

Taxation Fee : (admin fee + stamp)

:Rp15.000 + Rp6000

: Rp21.000

If it is for new customer

Account’s fee : Rp10.000,-

Funds received by customers:

Financing – Taxation fee

Rp2.150.000 – Rp31.000 = Rp2.119.000,-

Based on calculations related to the cost of rahn

above, then the actual funds received by the

customer is Rp 2,119,000, -. However, at the time of

repayment of financing, the customer will be

charged rental fund for maintain the collateral (gold)

which is stored by the PT. SRB KMS.

Customers can pay off the financing of rahn by

coming directly to the Teller PT. BPRS Karya Mugi

Sentosa located at Jalan Margorejo Indah No. 70 D

Surabaya.

According to the fatwa which has been explained

by DSN Fatwa No.25 / DSN-MUI / III / 2002 and

No.26 / DSN-MUI / III / 2002 the implementation of

maintenance and storage marhun, PT. BPRS Karya

Mugi Sentosa has implemented Shariah compliance

in accordance with the Fatwa.

4.4 Sales Discussion / Marhun Auction

Sale or auction of guarantee goods (marhun) will be

implemented if customer cannot pay off the

financing at the specified time. Ali (2008: 92),

which states that if rahin can not pay off marhun bih

to murtahin entitled to auction or sell marhun at

maturity. However prior to the auction is

implemented, there are some things to do. A week

before the maturity, PT. BPRS KMS must give

warning to the customer. It is also shown in the

financing of the contract about the marching

agreement or sale if the rahin cannot pay off its debt.

Based on the financing experience of rahn

contract in PT. BPRS Karya Mugi Sentosa, during

the operation for approximately eight years, there

has never been a case for selling and auctioning of

security goods (marhun). All of its customers make

sure to pay off the financing less than the time

period provided by the murtahin.

4.5 Cost Discussion on Ijarah

Agreement

Fatwa DSN No.26 / DSN-MUI / III / 2002 point

number four has been explained that "The cost of

storing goods (marhun) implementation based on

ijarah agreement". A question about Ijarah is

customers taking advantage of the PT. BPRS KMS

Shariah Compliance of Rahn Contract Based in Fatwa National Islamic Council-Indonesian Council of Ulama (Dsn-Mui) at Pt. Bank

Pembiayaan Rakyat Syariah (Bprs) Karya Mugi Sentosa

911

is in the form of loans. During the loan period, the

guarantee goods (marhun) guaranteed by the

customers are stored and provided by PT. BPRS

Karya Mugi Sentosa.

Based on the company's SOP, it is explained that

the cost of ijarah is determined by PT. BPRS Karya

Mugi Sentosa is calculated per 10 days. The cost of

ijarah has been set by PT. BPRS Karya Mugi

Sentosa, in accordance with what is written in the

SOP. The formula used to calculate the cost of ijara

is:

Rp 55

Rp 10.000

taxation fee

10 hari

× days

(counts from the beginning)

Nb: Days are multiplied per 10 days

Loan Principal : Rp 2.150.000,-

Taxation fee : Rp 2.393.700,-

Days :27counted 30

Maintaining Fee :

496.3930

700.393.2

000.10

days



Loan Principal : Rp 2.150.000

Maintaining Fee : Rp 39.496

Payment : Rp 2.189.496

In accordance with SOP PT. BPRS Karya Mugi

Sentosa, fee settlement formula is different if the

financing is below Rp 25 Million then the formula

used as the formula above (Rp55 / Rp10.000).

However, if the financing above Rp 25 million

maintenance fee is cheaper that is Rp50 / Rp10.000.

According to the fatwa described above,

implementation cost storage of goods (marhun)

based on ijarah agreement. PT. BPRS Karya Mugi

Sentosa has implemented Shariah compliance based

on Fatwa DSN No.26 / DSN-MUI / III / 2002 point

number four.

5 CONCLUSION

Practice of financing products rahn, PT. BPRS

Karya Mugi Sentosa has complied with Shariah

compliance based on Fatwa. 25 / DSN-MUI / III /

2002 and No. 26 / DSN-MUI / III / 2002. Shariah

compliance was analyzed from five patterns,

namely: (1) Utilization of marhun, (2) maintenance

and storage of marhun, (3) cost of marhun, (4) sale

or auction of marhun, (5) fee on ijarah contract.

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Dewan Syariah Nasional. 2002. Fatwa No: 26/DSN-

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