IMPLEMENTASI FATWA-MUI DALAM PRODUK DAN KEGIATAN BISNIS LEMBAGA KEUANGAN SYARIAH

Abstract

This research focuses on the study of the implementation of fatwas in the practices of Islamic financial institutions. This is motivated by the numerous fatwas issued by the National Sharia Council of the Indonesian Ulema Council (DSN-MUI), which plays a strategic role as the main reference in determining the types of contracts used in the operations of Islamic financial institutions. These fatwas are not only normative but also serve as practical guidelines to ensure that business activities are conducted in accordance with Islamic principles, especially regarding the suitability of contracts. However, the application of these fatwas at the operational level still faces several obstacles. One of the main challenges is the limited human resources with adequate competence and understanding of the principles and systems of Islamic economics. This condition hampers the effectiveness of supervision and optimal implementation of fatwas in Islamic financial institutions. The main objective of this research is to determine the extent to which the Sharia Supervisory Board (DPS) carries out its roles and functions in supervising the activities of Islamic financial institutions to ensure they remain within the framework of the established fatwas. This research employs a qualitative approach using library research methods. The data used comes from various secondary sources such as fatwas from DSN-MUI, scientific journals, academic books, and official documents from the Financial Services Authority (OJK) and Bank Indonesia. The analysis technique used is descriptive-analytical, examining in depth the relationship between the DSN-MUI fatwas and their implementation in the operational practices of Islamic financial institutions. This research also explores the relevance of fatwas, the level of compliance with them, and the challenges faced in their implementation in the field.