Analysis of Compliance with DSN-MUI Fatwa in the Murabahah Financing Contract (Case Study at BPRS Amanah Ummah)
Abstract
Background: The murabahah contract represents the dominant financing product in Islamic banking, making compliance with DSN-MUI Fatwa No. 04/DSN-MUI/IV/2000 essential for maintaining the integrity of Islamic financial institutions. However, studies indicate gaps between normative fatwa provisions and operational practices, particularly concerning wakalah mechanisms and financing supervision.
Research Gap: While previous research has examined sharia compliance from administrative and formal perspectives, limited attention has been given to understanding how institutional actors interpret, implement, and negotiate sharia principles in daily financing practices, especially within rural Islamic banks (BPRS).
Novelty: This study offers a novel contribution by exploring sharia compliance as a socially constructed practice shaped by institutional culture, actor understanding, and organizational dynamics, rather than merely as formal adherence to fatwa provisions. It integrates sharia governance theory with empirical evidence from a longstanding BPRS institution.
Method: Using a qualitative case study approach, data were collected through in-depth interviews, observations, and documentation involving 21 participants including leadership, Sharia Supervisory Board (DPS), financing employees, and customers at BPRS Amanah Ummah. Thematic analysis followed the Miles and Huberman interactive model.
Results: The findings reveal that BPRS Amanah Ummah demonstrates high compliance with DSN-MUI Fatwa No. 04/DSN-MUI/IV/2000, particularly in margin transparency, property ownership, and financing supervision. Sharia compliance is supported by established SOPs, active DPS roles, and routine employee coaching. However, challenges persist including potential side streaming in wakalah contracts, low community sharia financial literacy, and administrative obstacles.
Conclusion: This study underscores that substantive sharia compliance requires strengthening digital literacy programs, optimizing financing supervision, and improving sharia governance to sustain Islamic principles in financial practices.
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