Dissecting implementation musharakah in Islamic bank in Indonesia: A case study

This study aims to analyze whether musharakah financing applications implemented by Islamic banks in Indonesia have met the requirements of Sharia standards as stipulated in the National Sharia Council Fatwa (DSN) Number 8, Sharia Accounting Standard Number 106 and Financial Accounting Standards (FA...

Full description

Saved in:
Bibliographic Details
Published inJurnal Akuntansi dan Auditing Indonesia Vol. 21; no. 1; pp. 61 - 69
Main Authors Meutia, Inten, Adam, Mohamad
Format Journal Article
LanguageEnglish
Published Yogyakarta Universitas Islam Indonesia 01.04.2018
Subjects
Accounting standards
Banks
Case studies
Financial accounting standards
islamic bank
Islamic financing
musyarakah
profit and loss sharing
Profit sharing plans
shariah compliance
Indonesia
Online AccessGet full text

Cover

More Information
Summary:This study aims to analyze whether musharakah financing applications implemented by Islamic banks in Indonesia have met the requirements of Sharia standards as stipulated in the National Sharia Council Fatwa (DSN) Number 8, Sharia Accounting Standard Number 106 and Financial Accounting Standards (FAS) Number 4. This research used a case study approach that analyzes the case of musharakah in one of Islamic banks. This study found the existence of Islam in practice deviated from the paradigm of profit sharing. Calculations for results on musharakah financing tend to determine the fixed amount in advance. The portion of profit sharing is determined largely by the amount of funds provided by the bank, not those set by PSAS Number 106 or FAS Number 4.
ISSN:1410-2420
2528-6528
DOI:10.20885/jaai.vol21.iss1.art6