Literature review: implementation of Musharakah Mutanaqisah partnership over the world

https://doi.org/10.35912/bukhori.v1i1.196
Published: Jul 1, 2021

Abstract:

Purpose: This study aimed to determine the implementation of Musharakah Mutanaqisah.

Research methodology: This research method was a literature study with data obtained from previous research and theories relevant to the research topic.

Results: The research results show that Musharakah Mutanaqisah in the two countries still needs to be encouraged for its development, because Murabahah still dominates it, Ba'i, ijarah and others financing, the results of the study also concluded that the implementation of Musharakah Mutanaqisah is equally an alternative in property financing in Malaysia, and homeownership loans in Indonesia.

Limitations: This research only examined the application of MMP in Southeast Asia

Contribution: Findings contribute that internationally, accounting for Musharakah Mutanaqisah refers to IFRS and FAS. In Malaysia, the regulations governing the accounting for Musharakah Mutanaqisah are regulated in the Malaysian Financial Reporting Standards (MFRS). ). In Indonesia, the regulations governing the accounting for Musharakah Mutanaqisah are not yet available, so they are still regulated in PSAK No. 106 (Musharakah Akad).

Keywords: Musharakah Mutanaqisah partnership, Islamic bank, Sharia accounting

Keywords:
1. Musharakah Mutanaqisah partnership
2. Islamic bank
3. Sharia accounting
Authors:
1 . Wiwin Juliyanti
2 . Yohanes K. Wibowo
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How to Cite
Juliyanti, W., & Wibowo, Y. K. (2021). Literature review: implementation of Musharakah Mutanaqisah partnership over the world. Bukhori: Kajian Ekonomi Dan Keuangan Islam, 1(1), 1–10. https://doi.org/10.35912/bukhori.v1i1.196
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Vol. 1 No. 1 (2021): Juli
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References

    Asadov, A., Muhamad Sori, Z. Bin, Mohamad Ramadilli, S., Anwer, Z., & Shamsudheen, S. V. (2018). Musharakah Mutanaqisah home financing: issues in practice. Journal of Islamic Accounting and Business Research, 9(1), 91–103. https://doi.org/10.1108/JIABR-08-2015-0036

    Balgis, P. D. (2017). Akad Musharakah Mutanaqisa: inovasi baru produk pembiayaan bank syariah. JESI (Jurnal Ekonomi Syariah Indonesia), 7(1), 14. https://doi.org/10.21927/jesi.2017.7(1).14-21

    Basyariah, N. (2018). Analisis implementasi pembiayaan Musharakah Mutanaqisah pada perbankan syariah di Indonesia. Muqtasid: Jurnal Ekonomi dan Perbankan Syariah, 9(2), 120. https://doi.org/10.18326/muqtasid.v9i2.120-133

    Haneef, R., Kunhibava, S., & Smolo, E. (2011). Musharakah Mutanaqisah and legal issues: Case study of Malaysia. ISRA International Journal of Islamic Finance, 3(1), 91–122.

    Hendarsyah, D. F., Pengaturan, D., Perizinan, D. A. N., & Syariah, P. (n.d.). Peluang dan tantangan akuntansi Syariah.

    Hosen, M. N. (2016). Musharakah Mutanaqisah. Al-Iqtishad: Journal of Islamic Economics, 1(2). https://doi.org/10.15408/aiq.v1i2.2463

    Husein, M. T. (2019). Telaah kritis akad Musharakah Mutanaqisah. Al Maal: Journal of Islamic Economics and Banking, 1(1), 79. https://doi.org/10.31000/almaal.v1i1.1775

    Ikatan Akuntan Indonesia. (2007). PSAK No.106. DSAK Standar Akuntansi Keuangan.

    Loke, K., Wei, K., Mohd, H., & Thaker, T. (2017). A qualitative inquiry into Islamic home fi nancing : evidence from Malaysia. 9(2), 147–167. https://doi.org/10.1108/QRFM-07-2016-0020

    Maulida, S. (2020). Implementasi Akad Pembiayaan Qard dan Wakalah bil Ujrah pada platform fintech lending syariah ditinjau berdasarkan peraturan Otoritas Jasa Keuangan ( OJK ) dan Fatwa DSN-MUI. 5(2), 175–189.

    Meera, A. K. M., & Razak, D. A. (2009). Home financing through the Musharakah Mutanaqisah contracts: Some practical issues. Journal of King Abdulaziz University, Islamic Economics, 1, 3–25. https://doi.org/10.4197/Islec.22-1.1

    Muhamad Sori, Z. (2017). Accounting for Musharakah Mutanaqisah home financing: The Malaysia Case. SSRN Electronic Journal, M, 0–17. https://doi.org/10.2139/ssrn.2806947

    Naim, A. M. (2015). Purchase undertaking issues. 3(1), 25–48.

    Nor, M. Z. M., Mohamad, A. M., Azhar, A., Latif, H. M., Khalid, A. H. M., & Yusof, Y. (2019). Legal challenges of Musharakah Mutanaqisah as an alternative for property financing in Malaysia. Journal of Legal, Ethical and Regulatory Issues, 22(3).

    OJK. (2016). Standar Produk Buku 1: Musharakah Buku 2: Musharakah Mutanaqisah.

    Ridwan, M., & -, S. (2013). Implementasi Musharakah Mutanaqisah sebagai alternatif pembiayaan Murabahah di perbankan Syariah Indonesia. Tsaqafah, 9(1), 101. https://doi.org/10.21111/tsaqafah.v9i1.39

    Rohmi, P. K. (2015). Implementasi Akad Musharakah Mutanaqisah Pada Pembiayaan Kepemilikan Rumah Di Bank Muamalat Lumajang. Iqtishoduna, 5(1), 17–37. http://e-jurnal.iaisyarifuddin.ac.id/index.php/ekonomiislam/article/view/23

    Sabri, S. R. M., & Ahmad, F. S. (2014). The behaviour of profit of Musharakah Mutanaqisah partnership home ownership by the case of abandoned housing project. AIP Conference Proceedings, 1605, 1067–1072. https://doi.org/10.1063/1.4887739

    Sarwedhie, A. K., & Suprayogi, N. (2013). Perlakuan akuntansi akad Musharakah Mutanaqisah (Studi Kasus : KPR iB pada Bank Muuamalat abang Darmo Surabaya). Journal Article, KPR iB Pada Bank Muamalat Cabang Darmo Surabaya, 428–441. http://download.portalgaruda.org/article.php?article=361290&val=8147&title=Perlakuan Akuntansi Akad Musharakah Mutanaqisah (Studi Kasus : KPR iB Pada Bank Muamalat Cabang Darmo Surabaya).

    Smolo, E., & Kabir Hassan, M. (2011). The potentials of mushārakah mutanāqisah for Islamic housing finance. International Journal of Islamic and Middle Eastern Finance and Management, 4(3), 237–258. https://doi.org/10.1108/17538391111166476

    Undang-undang Republik Indonesia Nomor 18 tahun 2000 tentang pajak pertambahan nilai barang dan jasa dan pajak penjualan atas barang mewah

    Waluyo. (2014). Fiqh Muamalah. CV. Gerbang Media.

    Zaaba, Nurul Iffah Binti M A & Hassan, Rusni (2019). Why Islamic banks are reluctant to offer Musharakah Mutanaqisah for home financing: the case of Maybank Islamic and Affin Islamic Bank. Turkish Journal of Islamic Economics, 6(1).

  1. Asadov, A., Muhamad Sori, Z. Bin, Mohamad Ramadilli, S., Anwer, Z., & Shamsudheen, S. V. (2018). Musharakah Mutanaqisah home financing: issues in practice. Journal of Islamic Accounting and Business Research, 9(1), 91–103. https://doi.org/10.1108/JIABR-08-2015-0036
  2. Balgis, P. D. (2017). Akad Musharakah Mutanaqisa: inovasi baru produk pembiayaan bank syariah. JESI (Jurnal Ekonomi Syariah Indonesia), 7(1), 14. https://doi.org/10.21927/jesi.2017.7(1).14-21
  3. Basyariah, N. (2018). Analisis implementasi pembiayaan Musharakah Mutanaqisah pada perbankan syariah di Indonesia. Muqtasid: Jurnal Ekonomi dan Perbankan Syariah, 9(2), 120. https://doi.org/10.18326/muqtasid.v9i2.120-133
  4. Haneef, R., Kunhibava, S., & Smolo, E. (2011). Musharakah Mutanaqisah and legal issues: Case study of Malaysia. ISRA International Journal of Islamic Finance, 3(1), 91–122.
  5. Hendarsyah, D. F., Pengaturan, D., Perizinan, D. A. N., & Syariah, P. (n.d.). Peluang dan tantangan akuntansi Syariah.
  6. Hosen, M. N. (2016). Musharakah Mutanaqisah. Al-Iqtishad: Journal of Islamic Economics, 1(2). https://doi.org/10.15408/aiq.v1i2.2463
  7. Husein, M. T. (2019). Telaah kritis akad Musharakah Mutanaqisah. Al Maal: Journal of Islamic Economics and Banking, 1(1), 79. https://doi.org/10.31000/almaal.v1i1.1775
  8. Ikatan Akuntan Indonesia. (2007). PSAK No.106. DSAK Standar Akuntansi Keuangan.
  9. Loke, K., Wei, K., Mohd, H., & Thaker, T. (2017). A qualitative inquiry into Islamic home fi nancing?: evidence from Malaysia. 9(2), 147–167. https://doi.org/10.1108/QRFM-07-2016-0020
  10. Maulida, S. (2020). Implementasi Akad Pembiayaan Qard dan Wakalah bil Ujrah pada platform fintech lending syariah ditinjau berdasarkan peraturan Otoritas Jasa Keuangan ( OJK ) dan Fatwa DSN-MUI. 5(2), 175–189.
  11. Meera, A. K. M., & Razak, D. A. (2009). Home financing through the Musharakah Mutanaqisah contracts: Some practical issues. Journal of King Abdulaziz University, Islamic Economics, 1, 3–25. https://doi.org/10.4197/Islec.22-1.1
  12. Muhamad Sori, Z. (2017). Accounting for Musharakah Mutanaqisah home financing: The Malaysia Case. SSRN Electronic Journal, M, 0–17. https://doi.org/10.2139/ssrn.2806947
  13. Naim, A. M. (2015). Purchase undertaking issues. 3(1), 25–48.
  14. Nor, M. Z. M., Mohamad, A. M., Azhar, A., Latif, H. M., Khalid, A. H. M., & Yusof, Y. (2019). Legal challenges of Musharakah Mutanaqisah as an alternative for property financing in Malaysia. Journal of Legal, Ethical and Regulatory Issues, 22(3).
  15. OJK. (2016). Standar Produk Buku 1: Musharakah Buku 2: Musharakah Mutanaqisah.
  16. Ridwan, M., & -, S. (2013). Implementasi Musharakah Mutanaqisah sebagai alternatif pembiayaan Murabahah di perbankan Syariah Indonesia. Tsaqafah, 9(1), 101. https://doi.org/10.21111/tsaqafah.v9i1.39
  17. Rohmi, P. K. (2015). Implementasi Akad Musharakah Mutanaqisah Pada Pembiayaan Kepemilikan Rumah Di Bank Muamalat Lumajang. Iqtishoduna, 5(1), 17–37. http://e-jurnal.iaisyarifuddin.ac.id/index.php/ekonomiislam/article/view/23
  18. Sabri, S. R. M., & Ahmad, F. S. (2014). The behaviour of profit of Musharakah Mutanaqisah partnership home ownership by the case of abandoned housing project. AIP Conference Proceedings, 1605, 1067–1072. https://doi.org/10.1063/1.4887739
  19. Sarwedhie, A. K., & Suprayogi, N. (2013). Perlakuan akuntansi akad Musharakah Mutanaqisah (Studi Kasus?: KPR iB pada Bank Muuamalat abang Darmo Surabaya). Journal Article, KPR iB Pada Bank Muamalat Cabang Darmo Surabaya, 428–441. http://download.portalgaruda.org/article.php?article=361290&val=8147&title=Perlakuan Akuntansi Akad Musharakah Mutanaqisah (Studi Kasus?: KPR iB Pada Bank Muamalat Cabang Darmo Surabaya).
  20. Smolo, E., & Kabir Hassan, M. (2011). The potentials of mush?rakah mutan?qisah for Islamic housing finance. International Journal of Islamic and Middle Eastern Finance and Management, 4(3), 237–258. https://doi.org/10.1108/17538391111166476
  21. Undang-undang Republik Indonesia Nomor 18 tahun 2000 tentang pajak pertambahan nilai barang dan jasa dan pajak penjualan atas barang mewah
  22. Waluyo. (2014). Fiqh Muamalah. CV. Gerbang Media.
  23. Zaaba, Nurul Iffah Binti M A & Hassan, Rusni (2019). Why Islamic banks are reluctant to offer Musharakah Mutanaqisah for home financing: the case of Maybank Islamic and Affin Islamic Bank. Turkish Journal of Islamic Economics, 6(1).