THE RESPONSE ÙLAMÃ TO ȒIBÃ NORMA, BANK INTEREST, AND SHARING OF RESULTS IN THE ERA INDUSTRIAL REVOLUTION 4.0

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1. THE RESPONSE ÙLAMÃ TO ȒIBÃ NORMA, BANK INTEREST, AND SHARING OF RESULTS IN THE ERA INDUSTRIAL REVOLUTION 4.0 Hisam Ahyani Lecturer at STAI Miftahul Huda Al Azhar (STAIMA) Banjar City, Student of the Doctoral Program in Islamic Law, Concentration of Shari'ah Economic Law, UIN Sunan Gunung Djati Bandung, Indonesia hisamahyani@gmail.com Atang Abdul Hakim Lecturer at Postgraduate, UIN Sunan Gunung Djati Bandung, Indonesia aahakim@gmail.com Oyo Sunaryo Mukhlas Professor at UIN Sunan Gunung Djati Bandung, Indonesia osumfsh@yahoo.com ABSTRACT This research is motivated by the disobedience of the community to a law caused by the law in force in Indonesia, which does not meet the needs of the community. An example of Ùlamã 'which punishes “bank interest” includes Ȓibã and Ȓibã is the legal hàrăm. The fact in the field is that there are still many uses of conventional banks as a place for transactions even though it has been explained that conventional bank interest includes "Ȓibã" and Ȓibã dihàrămkan. From the above background, the authors ask several research questions including first, How is the Ùlamã Response to Ȓibã, Bank Interest, and Profit Sharing in the Era of the Industrial Revolution 4.0?; second, how is the comparison of the profit sharing system in syari'ah banking and conventional Ùlamã perspective then and now?; third, how is the impact of Ȓibã, bank interest, profit sharing on the economy in Indonesia? This type of research is normative, and the method used is literature research, with qualitative research methodologies, statutory approaches, historical approaches, comparative approaches and conceptual approaches. This research shows that “Norma Ȓibã” in Islam is subject to khilafiyah as well as the law of “Bank Interest” in principle, tolerance between the lamã's opinions that must be put forward. The Ùlamã who perform ijtihad in the use of Istinbat AlHukmi in determining the matter of "Bank Interest", their results remain different. The norm for profit sharing in Islamic economics is an innovative step in accordance with the behavior of the Indonesian people. In addition, "profit sharing" is a step to create social balance in muàmalah. The profit-sharing system in the Industrial Revolution 4.0 Era can be seen as an effective step in order to avoid the "social gap conflict" between the "rich and the poor". The impact of Ȓibã, Bank Interest, profit sharing in Indonesia is included in the economic, social, and corporate sector. Keywords: Ùlamã response, bank interest, Ȓibã, profit sharing, Indonesian economy 1
2. ABSTRAK Penelitian ini di latar belakangi oleh tidak patuhnya masyarakat pada suatu hukum yang disebabkan oleh hukum yang berlaku di Indonesia , sudah tidak memenuhi kebutuhan di lingkungan masyarakat. Dicontohkan Ùlamã’ yang menghukumi “bunga bank” termasuk Ȓibã dan Ȓibã adalah hàrăm hukumnya. Fakta dilapangan masih banyak pengunaan bank konvensional sebagai tempat bertransaksi walau sudah dijelaskan bahwa bunga bank konvensional itu termasuk “Ȓibã” dan Ȓibã dihàrămkan. Dari latar belakang diatas penulis mengajukan beberapa pertanyaan penelitian meliputi pertama, Bagaimana Respon Ùlamã terhadap Ȓibã, Bunga Bank, dan Bagi Hasil di Era Revolusi Industri 4.0 ?; kedua, Bagaimana perbandingan sistem bagi hasil pada perbankan syari’ah dan konvensional perspektif Ùlamã dulu dan sekarang ?; ketiga, bagaimana Dampak Ȓibã, Bunga Bank, Bagi Hasil terhadap Perekonomian di Indonesia ?. Jenis penelitian ini bersifat normative, dan Metode yang digunakan adalah penelitian kepustakaan, dengan metodologi penelitian kualitatif, pendekatan perundang-undangan, pendekatan historis, pendekatan komparatif dan pendekatan konseptual. Penelitian ini menunjukan bahwa “Norma Ȓibã” dalam Islam masuk pada masalah khilafiyah begitupun hukum “Bunga Bank” pada prinsipnya toleransi antar pendapat Ùlamã yang harus dikedepankan. Ùlamã yang berijtihad dalam penggunaan Istinbàt Al-Hukmi dalam menentukan masalah “Bunga Bank” tersebut, al-hasil pendapat mereka tetap berbeda. Norma bagi hasil dalam Ekonomi Islam adalah langkah inovatif yang sesuai dengan perilaku masyarakat Indonesia, Selain itu “bagi hasil” adalah langkah untuk melahirkan keseimbangan sosial dalam ber-muàmalah. Sistem bagi hasil di Era Revolusi Industri 4.0 dapat dipandang sebagai langkah efektif guna terhindar dari “konflik kesenjangan sosial” antara yang “kaya dan yang miskin”. Dampak Ȓibã, Bunga Bank, bagi hasil di Indonesia masuk pada sektor Ekonomi, Sosial Kemasyarakatan, Ketahanan Perusahaan. Kata Kunci : Respon Ùlamã, Bunga Bank, Ȓibã, Bagi Hasil, Ekonomi Indonesia INTRODUCTION Development in the national sphere in the field of law is a tough task for the Indonesian nation, which demands that all parties support it. This is because the concept of law in Indonesia in the Industrial Revolution Era 4.0 is still largely inherited by Dutch colonial law, so that people who take turns continue to experience changing times. This is what requires a continuous study whether the existing law is still in accordance with the conditions of the times (Industrial Revolution era 4.0) in today's society. One of the reasons for the “disobedience” of society to a law is that the community considers that the law that was in effect in the Industrial Revolution Era 4.0 has not met the needs of society. One example is that of the response of ãlamã 'which argues that “bank interest” is Ȓibã and Ȓibã is “hàrăm”. However, this is not the case with the attitude of behavior in the community, people prefer laws which are considered favorable. Although many ùlamã and even MUI fatwas affirm that “bank interest” is Ȓibã and Ȓibã is hàrām, the facts on the ground are that many Muslims use conventional banks rather than Islamic banks as a place for transactions even though it has been explained that the “bank interest” which is there is in a conventional bank the Ȓibã and the Ȓibã are the hàrām laws. In relation to that which results in boasting, the model of Sharia Economy which is built on the basis of the philosophy of religiosity, and the results of the institutions of justice and also instruments towards mutual benefit as in Surah al-takatsur 1-2 Allõh Swt says: 2
3. ‫اَْلهٰى ُك ُم التَّ َكاثُُر َح ّٰٰت ُزهرُُتُ اله َم َقابِر‬ The Meaning: Boasting has neglected all of you, until you have all gone into the grave. (Q.S. al-Takatsur 1-2).1 There is al-Ꝗur'ãn which explains the discussion of the first law "Ȓibã" which is found in the Q.S. al-Rûm verse 39 which means: "And any Ȓibã that you do in order to add to" human wealth ", then" Ȓibã "does not add to" on the side of Allõh ". And what you Tasarufkan in the form of zakat which you mean to seek Allah's pleasure, then those who do this are charcoal people who multiply their reward ”. Second, al-Ꝗur'ãn Surat al-Nisa 'verse 161 which means: "And because they took Ȓibã, even though they were forbidden to take it and because they ate people's property in an immoral way. We provide for the disbelievers a painful torment ". Next, the third one is al-Ꝗur'ãn ayat Ali Imran verse 130 which means: "O you who believe, do not eat multiple Ȓibã and fear Allah, so that you may win." The last verse about Ȓibã is Al-Ꝗur'ãn Surah Albaqarah verse 275 which means "One who eats Ȓibã cannot stand but is like a person who is possessed by a demon because of mental illness. And if you repent (from taking Ȓibã), then to you your property, you are neither persecuted nor persecuted ".2 Formulation of the problem at From the above background, the writer asks several research questions including the first, How is the response of Ùlamã to Ȓibã, bank interest, and profit sharing in the era of the industrial revolution 4.0?; second, how is the comparison of the profit sharing system in syari'ah banking and conventional Ùlamã perspective then and now?; third, how is the impact of Ȓibã, bank interest, profit sharing on the economy in Indonesia in the era of the industrial revolution 4.0? RESEARCH METHODS This type of research is included in the category of normative legal research. Researchers in this case the method used in this research is library research, with qualitative research methodology, and using a statutory approach, and a historical approach, as well as a comparative approach as well as a conceptual approach. In order to know the response of Ùlamã to Ȓibã, bank interest, and profit sharing in the era of the industrial revolution 4.0, and to know the profit sharing system in sharia and conventional banking, past and present perspectives of lamã and to know the impact of Ȓibã, bank interest, profit sharing on the economy Indonesia in the Industrial Revolution Era 4.0. As for the discussion and analysis, the researcher will explore as explained below in detail and hit. The Ministry of Religion's Brief Tãfşĩr (Verse 1 Al-Takatsur) explains that O people, boasting in wealth, descent, and followers has neglected you from obedience to Allõh and prepare yourself to face the end of the world. Tãfşĩr Kemenag (Verse 2 Al-Takatsur) Allõh describes the state of boasting among humans or the effort to have more than others will continue until they enter the grave. As such, they have wasted life on useless things, both in the life of the world and for the life of the ãkhirãt. The scholars argued that visiting the graves is the most effective antidote to soften the heart, because with the grave pilgrimage, people will remember death and the day of ãkhirãt, then naturally it will limit nonsensical desires. Prophet Muhammad said: I once forbade you to visit the grave, so now visit the grave, because visiting the grave will make the zuhud from the luxury of the world and remind you of the life of ãkhirãt. (History of Ibn Majah from Ibn Mas'ud). Accessed from quran.kemenag.go.id, January 2020 2 Understanding at Asbabun Nuzul Ȓibã's verses is very important because the provisions of the Koran can only be understood through knowledge of the conditions and situations that caused the verse to come down. If we follow the opinion of the experts of Tafşĩr and their narrations about the causes of the revelation of these verses, the majority of them can be seen as suggesting that the Arab Jahiliyah used to carry out Ȓibã transactions, especially the rich. Indeed, there have been productive transactions, but individually as happened to the Banu Tsaqif. It is not praiseworthy for a rich person to take advantage of the limitations of the poor to collect Ȓibã. Thus the Law Illat of Ȓibã's khàrăm is due to oppression. 1 3
4. RESULTS AND DISCUSSION The Response Ùlamã to Ȓibã in The Era of Four Point Zero Some jurists consider the word norm to be synonymous with the word rule. But when viewed from the Indonesian dictionary, the two words have different meanings but still refer to one subject, namely rules. The word norm in the Indonesian Dictionary is defined as a rule or provision that binds all or part of the community; standard rules, measures to determine something. The word rule in the dictionary means the formulation of principles which become law; certain rules; benchmark; arguments (National 2008, 1007). When viewed from an etymological point of view, the word norm comes from Latin while the word rule comes from Arabic. Norma comes from the word nomos which means value and then the meaning is narrowed down to a legal norm. While the rules in Arabic are derived from the word qo'idah which means measurement or measuring value (Asshiddiqie 2011, 1). The perspective of the hadith regarding Ȓibã needs to be understood that the function of the hadiths is not only as a source of Islamic law, the two hadiths also function as explanation, detail and reinforce what has been conveyed in the Alal-Ꝗur'ãn. Like the hadith that was conveyed by the Prophet Muhammad during the Hajj wada 'which means as follows (Hadi 1993, 18): It means "Remember that you will face your Lord and He will definitely count your deeds. Allõh has forbidden you to take Ȓibã. Therefore, the debt due to Ȓibã must be written off. Your capital (principal) is your right. You will not suffer or experience injustice " (Hadith narrated by Bukhori and Muslim) Above the researcher has explained the related Hadiths of Ubadah bin Said, from the Prophet SAW, his words: "gold with silver gold with silver rice with rice, wheat with wheat, dates with dates and salt with salt, if the same kind and form is Ȓibã but if "(Muslim) The third hadith from ubadah bin Yazid, that he heard Ibn Abbas say:" Usamah bin Zaid has narrated to me that the Prophet said: "Ȓibã only in debt". (H.R. Muslim). Based on the verses and hadiths, the term Ȓibã is very popular among Muslims which means something hàrăm. It is forbidden by religion to do Ȓibã. So that the perspective of the divine religions is explained as follows. The Jews were prohibited from practicing flower taking. This prohibition is abundantly contained in their holy book both in the Old Testement (old agreement) and the talmud law. The Book of Exodus (output) chapter 22 verse 25 states, "If you lend money to one of my people, a poor one among you, then do not act as a debt collector against him: do not charge interest money on him (Antonio 2001, 41). According to the Pastor St. Augustine argued that the charging of flowers to the poor was more cruel than a robber who robbed the rich. This is because both of them robbed, one against the rich and the other against the poor. Likewise with regard to Ȓibã which is known as an addition which is not accompanied by an exchange of compensation, this is clearly prohibited by al-Ꝗur'ãn (al-Arabi 1957, 321). Ȓibã in the view of the lamã 'khalaf (modern ùlamã') Yusuf Qordawi, a great Egyptian lamã 'who lives in Qatar, explains that the question of Ȓibã has been resolved since decades ago, namely hàrām. Likewise Muh. Rasyid Ridlo. Although the majority of ùlamã 'in this modern era are still many who produce Ȓibã, there is already an opinion that the opinion that bank interest is permissible (Al-Qardhawi 2002, 22). Al-Razi's view, al-Shabuni argues that Ȓibã is an absolute addition (al-Shabuni t.t, 383). Likewise al-Jurjani in the book al-Ta'rifat explains that Ȓibã literally means ziyadah or addition (al-Jurjani t.t, 109). The Quraish Shihab commentary expert argues that the word Ȓibã in terms of language means excess. If we stop only at this linguistic meaning, then the logic put forward by the opponents of Ȓibã at the time of the Prophet can be justified. When they said as stated in alꝖur'ãn, that buying and selling is the same as Ȓibã (Surah al-Baqarah [2]: 275), Allõh answered them emphatically that "Allõh legalized buying and selling and generating Ȓibã". 4
5. This affirmation was put forward by him without mentioning the reasons explicitly , but it can be ascertained that of course there is a reason or wisdom so that Ȓibã is honored and buying and selling is lawful (Shihab 1998, 413). As for Abdurrahman al-Jaziri in the Book of al-Fiqh ala Madzahib al-Arba'ah explains that Ȓibã according to the term fûqahã is an addition to one of two similar items which are exchanged without any compensation or consideration for the additional (Al-Jaziri tt, 198) . The view of the Syafi'i school of thought, Ȓibã, means a transaction for a certain reward whose measurement is not known nor the size of the time when the transaction occurs with a delay in the delivery of the two goods exchanged or one of them (al-Nawawi t.t, 403). In the Industrial Revolution Era 4.0, Indonesian Muslims still question the legal status of interest (interst / fã'idãh) imposed in loan transactions (al-qardh) or accounts payable (aldayn), whether carried out by financial institutions, individuals or other then the Indonesian Ùlamã Council issued fatwa number 1 of 2004 regarding interest (interest / fã'idãh), as stated in Allõh Swt as follows in Q.S al-Abaqarah verses 275-276: ِ ِ ‫الرَب ََل ي ُقومو َن إََِّل َكما ي ُقوم الَّ ِذي ي تخبَّطُه الشَّيطَا ُن ِمن الهم‬ ِ َّ‫ال‬ ِٰ ‫ين ََيه ُكلُو َن‬ ‫ك‬ ‫ذ‬ َ ‫س ٰذَل‬ َ ‫ه‬ َ ُ ُ َ َ ُ َ َ َ َ َ َ ٰ ِ‫الرَب فَمن جاءه مو ِعظَةٌ ِمن ربِه‬ ِٰ ‫ِِبَ ََّّنُهم قَالُوا إََِّّنَا الهبَ هي ُع ِمثهل‬ َّ ‫َح َّل‬ َٰ ‫ه‬ َ ‫الرََب َوأ‬ ‫اَّللُ الهبَ هي َع َو َحَّرَم َِٰ َ ه َ َ ُ َ ه‬ ُ َِّ ‫فَانهت هى فَلَه ما سلَف وأَمره إِ ََل‬ ‫اب النَّا ِر ُه هم فِ َيها‬ َ ِ‫اَّلل َوَم هن َع َاد فَأُوٰلَئ‬ ‫ك أه‬ ُُ ‫َ َ ٰ ُ َ َ َ َ ه‬ ُ ‫َص َح‬ ِ َ‫الص َدق‬ ِٰ ُ‫اَّلل‬ .‫ات‬ َّ ‫َخالِ ُدو َن َيَه َح ُق‬ َّ ‫الرََب َويُهرِِب‬ This means: "Those who eat (do) Ȓibã cannot stand but are like the standing of a person who is possessed by the devil because of (pressure) madness. Their condition is like that, is because they say (opinion), actually buying and selling is the same as Ȓibã, even though Allõh has legalized buying and selling and generating Ȓibã. Those who have come to him the prohibition of his Lord, then continue to stop (from taking Ȓibã), then for him what he had taken first (before the prohibition came); and business (it's up) to Allõh. One who repeats (takes Ȓibã), then that person is a denizen of hell; they are eternal in it. Allõh destroys the Ȓibã and makes alms fertile. (Ꝗur'ãn Surãh al-Abãqarãh verses 275-276). Likewise, the same thing is in line with the hadith narrated by Imam Muslim in the book Masaqah Page 2995 which means the following which means: From Abdullah r.a., he said: "Rasulullah s.a.w. curse those who eat (take) and give Ȓibã. " Rawi said: I asked: "(Did Rasulullah curse also) the person who wrote it down and the two people who were the witnesses?" He (Abdullah) replied: "We are only telling what we have heard." (Hadith narrated by Muslim). In the era of the Industrial Revolution 4.0 which is increasingly sophisticated, it is also necessary to use technology, this is the opinion (Oyo Sunaryo 2011, 134) as quoted by (Rifqi 2020) that in order to play a role for a judge to be more flexible in resolving cases of Islamic law in Indonesia, the role Information technology that is increasingly sophisticated in terms of the development of the search for justice in the Industrial Revolution Era 4.0 in order to facilitate the settlement of cases in religious courts has also been required to move forward, for example by the presence of the launch of online case settlement. In addition, the role of Islamic banking is in order to encourage the rate of economic growth in Indonesia, in which Islamic banking in 5
6. Indonesia affects the Gross Domestic Product (GDP) with an economic growth of Rp. 5,089 (Saragih and Irawan 2019). Therefore, the elements of usury that exist in conventional banks in the Industrial Age 4.0 as now must be shunned, this is because the role of Islamic banks has been proven to show progress, especially in Indonesia. In this case, there are several opinions of the Ùlamã experts of fiqh that the interest charged in loan transactions (debts, al-qardh; al-qardh wa al-iqtiradh) has met the criteria of Ȓibã that was stated by Allõh SWT, as stated, among others, by Imam Nawawi in Al-Majmu 'Al-Nawawi said our Companions (ùlamã mazhab Shafi'i) differed in their opinion about the values confirmed by al-Ꝗur'ãn, on two views. Namely the first, the pengàrăman is mujmal (global) as described by the sunnah. Every law regarding Ȓibã that is put forward by the sunnah is an explanation (bayan) of the kemujmal-an al-Ꝗur'ãn, both Ȓibã naqd and Ȓibã nasί'ah. Furthermore, secondly, that the pengàrăman Ȓibã in al-Ꝗur'ãn actually only includes Ȓibã nasa 'which is known by the people of Jahiliah and the demand for additional assets (receivables) is due to the increase in time (repayment). One of them, when the payment of his debt is due and the debtor does not pay it, he adds his debt and adds the period of payment. Something like that is done again at the next due date. That is what Allõh's words mean: do not eat ãibã by multiplying ”. Then the sunnah adds Ȓibã in currency exchange (naqd) to the form of Ȓibã which is al-Ꝗur'ãn. The view of Ibn al-'Arabί in Ahkam al-Ꝗur'ãn Ȓibã in the sense of language is extra (extra). Meanwhile, what is meant by Ȓibã in al-Ꝗur'ãn is any extra or extra that is not rewarded (al-Arabi 1957). While Al-'Aίnί in 'ûmdah al-Qarί' The basic meaning of Ȓibã is excess (addition). Meanwhile, the meaning of Ȓibã in Islamic law / syara 'is any excess (addition) to the main asset without going through a sale and purchase contract. Muhammad Abu Zahrah in Buhûts fi al-Ȓibã Ȓibã which is meant in alꝖur'ãn is Ȓibã (addition, interest) which is practiced by banks and the public; and that is hàrăm law, without a doubt. View or Response of Sheikh Wahbah al-Zuhaily in Al-Fiqh alIslamy wa Adillatuh, explaining that bank interest is hàrăm, hàrăm, hàrăm. Ȓibã or bank interest is Ȓibã nasί'ah, whether the interest is low or multiple. (This) because the main activities of a bank are providing debt (loans) and receiving debt (loans). The danger (madharat) of Ȓibã is fully manifested (fully present) in bank interest. The legal bank interest is hàrăm, hàrăm, hàrăm, as is Ȓibã. The sin (due to the transaction) of interest is the same as the sin of Ȓibã; Another reason that bank interest has the status of ibã is the word of Allõh SWT as follows: ۡ ۡ ‫ب ِمن ٰاَّللِ ورس ۡولِه واِ ۡن ت ۡب ت ۡم ف لَ ُك ۡم رء‬ ۡ ‫فاِ ۡن ََّّۡل ت ۡفعلُ ۡوا ف ۡاذَن ۡوا ِِب‬ ٍ ‫س اَ ۡم َوالِ ُك ۡم ََل تَظلِ ُم ۡو َن‬ ‫و‬ ‫ر‬ َ ُ ُ َ ُ ََ ٰ َ ٰ َ ُ َ َ َ َ ُ ُُ ۡ ‫َوََل تُظلَ ُم ۡو َن‬ Meaning: If you do not carry it out, then declare war from Allõh and His Messenger. But if you repent, then you are entitled to the principal of your treasure. You do not do zhalim (harm) and are not wronged (harmed) (QS. AlBaqarah : 279). In the research of Brother Hamim Ilyas' Thesis, entitled Ȓibã in Muamalah, it was found that Ȓibã did not only occur in economic problems, but also occurred in social problems. From the distribution of ibã, the gates of ibã arise, because all transactions of ibãwi commodities which do not comply with the stipulated conditions and all actions which have the same value and effect as Ȓibã are classified as pintuibã 6
7. doors . Economic ibã is Ȓibã which occurs in all human endeavors to meet their needs in order to achieve prosperity in life. Meanwhile, social Ȓibã is a term used for character assassination, destruction of one's good name, dignity and self-esteem (Bakar 2018). The Response Ùlamã to Bank interest in The Era of Four Point Zero The response of Ùlamã to bank interest in general is included in ibã, so that bank interest is also respected in Islamic teachings. Ȓibã can happen to loans that are consumptive in nature or loans that are productive in nature. And in essence Ȓibã in bank interest is burdensome to the borrower. Regarding the issue of Ȓibã from a legal perspective and its interpretation as well as bank interest from a review of Islamic law and analyzing its impact on the economy, both those raised by Islamic legal experts, mufassirin and Muslim economists. There is a difference of opinion among the fûqahãs regarding the law of bank interest and the analysis of experts on its impact on the economy of the ummah, both micro and macro. As for the Response or Opinion of jumhur lamã argues that bank interest may not (hàrăm) meanwhile, some of the ùlamã including Abdullah Yusuf Ali and Muhammad Asad argue that the interest earned is Ȓibã which is multiple (unnatural), while interest that does not double is allowed, including in this category the current practiced bank interest. This difference of opinion is motivated by the different interpretations of the mufassirin on the verses about Ȓibã. Penghàrăman Ȓibã / usurios in Islam is based on moral and human considerations because the essence of the prohibition of Ȓibã is the elimination of all forms of economic practice that cause injustice and injustice. And the impact of interest on the economy will hamper economic growth (Kalsum 2014). So that the basic essence of the "prohibition of Ȓibã in Islam" is to avoid any acts of "injustice and injustice" in all economic practices. Meanwhile Ȓibã (interest) is essentially an additional imposition on a destitute debtor, which should be helped, not exploited and forces the results of the business to be always positive. This contradicts the principle of Islamic teaching which is very concerned with lower socio-economic groups so that these groups are not exploited by the rich (owners of funds). This is because the teachings of Islamic economics carry the mission of humanism, social order and rejecting injustice and injustice whose links have an effect on poverty. Likewise, in the conventional economic system, which many discuss not only Muslim economists but also non-Muslim figures themselves. The source of the causes of humanitarian problems, according to economic experts, lies in the economic system that does not care about the principles of equality, equity, lack of prioritizing humanity and religious values. One of the greatest obstacles to achieving equitable justice (the cause of injustice, inequity) is the Ȓibã (interest) system. So it is impossible for justice to be created without eliminating interest from the habitat of the economy and upholding an economic system that is free from all kinds of Ȓibã which gives birth to a homo economicus behavior model by upholding the homo homini lupus principle, namely behavior that castrates and ignores moral and religious values and emphasizes protection. on individual rights (utilitarian individualism) while ignoring the common interest. In order to be more efficient in defining Ȓibã technically according to the fûqahã, it is an additional taking from the principal assets or capital in vanity, both in debt and in sale and purchase (al-Qurtubi 1981, 128). Batil in this case is an act of injustice (zalim) or silent accepting injustice. Additional taking vanity will lead to tyranny among economic actors. Thus the essence of the prohibition of Ȓibã is the elimination of injustice and upholding justice in the economy. And what happens in 7
8. conventional banking activities , there are two types of interest, first, deposit interest, which is the interest given by the bank as a stimulus or remuneration for customers who save their money in the bank, such as current accounts, savings interest, or deposit interest. For the bank, deposit interest is the purchase price. Second, loan interest, which is the interest charged to borrowers or the price that borrowers must pay to banks, such as loan interest. For the bank, the loan interest is the selling price. Related to "interest on deposits and also loan interest" which is a major component of cost and income factors for banks. Deposit interest is the cost of funds that must be paid to customers, while loan interest is the income received from customers. This means that the difference between the loan interest and the deposit interest is the profit or gain received by the bank (Muslich 2013, 503). Contemporary ùlamas differ on the law of bank interest. First, some ùlamã, such as Yusuf Qaradawi, Mutawalli Sya'rawi, Abu Zahrah, and Muhammad al-Ghazali, state that the legal bank interest is hàrăm, because it is included as Ȓibã. This opinion is also the opinion of the Islamic lamã forum, including: Majma 'al-Fiqh al-Islamy, Majma' Fiqh Rabithah al'Alam al-Islamy, and the Indonesian Ùlamã Council (MUI). The arguments related to dihibã are based on the words of Allõh subhanahu wa ta'ala in al-Ꝗur'ãn Surah alBãqarah verse 275: ِٰ ‫اَّللُ الهبَ هي َع َو َحَّرَم‬ ‫الرََب‬ َّ ‫َح َّل‬ َ ‫َوأ‬ Meaning: Whereas Allõh has legalized buying and selling and generating Ȓibã (Q.S. al-Baqarah : 275). And based on the hadith of the Prophet Muhammad sallallahu 'alaihi wasallam which was narrated by the friend of Jabir bin Abdillah: َِّ ‫ول‬ ِ ِ ِٰ ‫اَّللُ َعلَهي ِه َو َسلَّم آكِل‬ ُ ‫ لَ َع َن َر ُس‬:‫َع هن َجابِ ٍر قَ َال‬ َّ ‫صلَّى‬ ُ‫الرََب َوُم هوكلَهُ َوَكاتبَه‬ َ ‫اَّلل‬ ِ ‫وش‬ ‫اه َديه ِه َوقَ َال ُه هم َس َواء‬ ََ Meaning: From Jabir, he said: "Rasulullah shallAllõhu 'alaihi wasallam cursed those who eat (take) Ȓibã, give, write, and two people who witness it." He said: "They are of the same legal status." (HR. Muslim, number 2994). (See: Yusuf Qaradhawi, Fawa'id al-Bunuk Hiya al-Ȓibã al-Hàrăm, Cairo: Dar al-Shahwah, pages 5-11; MUI Fatwa Number 1 of 2004 on flowers). Then the second, the response of some other contemporary ùlamã, such as Shaykh Ali Jum'ah, Muhammad Abduh, Muhammad Sayyid Thanthawi, Abdul Wahab Khalaf, and Mahmud Syaltut, emphasized that the legal bank interest may and does not include Ȓibã. This opinion is in accordance with the fatwa issued by Majma 'al-Buhus al-Islamiyyah on the 23rd of Ramadan 1423 H, coinciding on November 28, 2002 AD They are holding on to the words of Allõh subhanahu wata'ala Surat anNisa' verse 29: ِ ‫َيأَيُّها الَّ ِذين آمنُوا ََل ََته ُكلُوا أَموالَ ُكم ب ي نَ ُكم َِبلهب‬ ٍ ‫اط ِل إََِّل أَ هن تَ ُكو َن ِِتَ َارًة َع هن تَ َر‬ ‫اض ِمهن ُك هم‬ َ ‫ه َ ه َه ه‬ َ َ َ َ 8
9. Meaning : O you who believe, do not eat each other's wealth in an evil way, except by way of commerce that is consensual among you. (QS. al-Nisa verse 29). As explained in the above verse, Allõh Swt has clearly prohibited eating other people's property in an evil way, such as stealing, gassing, and by means of Ȓibã. On the other hand, Allõh justifies this if it is done with commerce that goes with mutual pleasure. Therefore, the pleasure of both parties who transact to determine the amount of profit at the beginning, as happened in the bank, is justified in Islam. Besides that, they also reasoned that if the bank interest is hàrăm then the addition to the principal of the loan is also hàrăm, even though that addition is not required when the contract is made. However, the additional law is allowed, so bank interest is also allowed, because there is no difference between bank interest and additional loan principal. In the fatwa Majma 'al-Buhus al-Islamiyyah it is stated as follows: ِ ِ ‫الربح أَ ِو‬ ِ ‫إِ َّن‬ ِ ِ ‫س بِِه‬ ‫ه‬ َ َ ‫استثه َم َار هاْل هَم َوال لَ َدى الهبُنُ هوك الَِّ هِت ُُتَ ٰد ُد ِٰه‬ ً ‫العائ َد ُم َقد‬ َ ‫َّما َح ََل ٌل َش هر ًعا َوََل َِبه‬ Meaning: In fact investing property in banks that determine profit or interest in front of the law is lawful according to the Sharia, and that's okay. (See: Ali Ahmad Mar'i, Buhus fi Fiqhil Mu'amalat, Cairo: Al-Azhar Press, pages 134158; Asmaul Ùlamã al-ladzina Ajazu Fawaidal Bunuk; Fatwa Majma 'Buhuts al-Islam bi Ibahati Fawaidil Masharif). Quoted from the results of the National Conference of 'Alim Ùlamã NU in Bandar Lampung in 1992, there are three opinions regarding the law of bank interest: First, the opinion that equates bank interest with Ȓibã absolutely, so the law is hàrăm. Second, the opinion that does not equate bank interest with Ȓibã, so the law is permissible. Third, the opinion that says bank interest is generally syubhat. Even so, Munas considered it necessary to find a way out of determining a banking system that was in accordance with Islamic law. From the above explanation, it can be understood that the law of bank interest is a khilafiyah problem. As research by (Ahyani and Muharir 2020). There are ùlamã who allow it because they belong to ibã, and there are ùlamã who allow it, because they do not consider it to be Ȓibã. But they all agree that the Ȓibã is hàrām. Regarding khilafiyah problems like this, in principle mutual tolerance and mutual respect and respect for inter-opinion must be put forward. This is because each ùlamã group has devoted its energies to performing ijtihad to find the law of the problem, and in the end their opinion remains different. Therefore, a Muslim is given the freedom to choose an opinion according to the stability of his heart. If his heart is determined to say that bank interest is permissible then he can follow the opinion of the ãlamã who allows it. Meanwhile, if his heart is in doubt, he can follow the opinion of the ùlamã who respects him. The Apostle shallAllõhu 'alaihi wasallam said: ِ‫ و ه‬،‫اله َق هلب‬ ِ ‫اك ِِف النَّ هف‬ ‫س َوتَ َرَّد َد ِِف‬ َ ‫اح‬ َ ‫اْل هْثُ َم‬ َ ُ 9 ِ ِ َّ ‫الِب ما اطهمأ‬ ِ َّ ‫س َواطه َمأ‬ ‫َن إِلَهي ِه‬ َ َ ُّ ُ ‫َن إلَهيه النَّ هف‬ ‫َّاس َوأَفه تُ هو َك‬ َ َ‫الص هد ِر َوإِ هن أَفه ت‬ َّ ُ ‫اك الن‬
10. The Meaning : Kindness is whatever calms your heart and soul. Whereas sin is what causes the heart to waver and worry even though many people say that it is good. (HR. Imam Ahmad). The Ùlamã controversy Over Bank Interest in The Era of Four Point Zero In relation to the Khilafiyah in the Ùlamã Controversy over the Bank Interest earned is the interest which is the dependence on loan money, which is usually expressed as a percentage of the money borrowed. Then whether interest is included as Ȓibã, there are two opinions according to Ibn Taymiyah in (Kalsum 2014, 71); first, according to the ijma ùlamã among all the schools of fiqh that flowers in all their forms are included in the category Ȓibã. And second, the opinion that interest is not included in the category of ibã. Some of the figures differed about the Ȓibã which is haramkan is the Ȓibã which is young adhafan'afatan or multiple. This opinion was expressed by Abdullah Yusuf Ali and Muhammad Asad, who interpreted Ȓibã as usury which means an interest rate that is more than usual or a high interest rate and not interest (low interest). The existence of different interpretations of this ãibã brings consequences for serious conceptual problems so that there are differences of opinion on the category of ibã that is accepted. Referring to the opinion of Tãfşĩran Abdullah Yusuf Ali and Muhammad Asad, bank interest does not include the Ȓibã that was recorded (Chapra 2000, 223) in the research (Ahyani, Permana, and Abduloh 2020). Views on Muhammad Abduh, Muhammad Rashid Rida, Abd al-Wahab Khallaf, Mahmud Shaltut (Ghani 2006, 39) They argue that the Ȓibã which is hàrāmkan is the ibã which is multiple and does not include the ibã which is low in levels. They understand according to the context of the verse Ȓibã which results in multiple ibãs. Sanhuri also considers as quoted by (Saeed 1999, 43), that low interest on capital is lawful on the basis of necessity. He added that the law must set limits on interest rates, payment methods and total interest to be paid. However, this last opinion has several weaknesses, because throughout history the level (level) of interest rates has varied (fluctuated) according to circumstances, both in terms of time and place. Therefore it is difficult to determine high or low interest rates based on time and place (Ghani 2006, 40). This controversy in the justification of interest on the basis of darurah and hajjah is one of the important elements in the economy is the bank, which contains the interest system. Bank interest (interest) which is considered the same as Ȓibã will be difficult to stop, because if the bank is prohibited it will cause economic bottlenecks. Therefore, it can be said that this kind of condition is an emergency, that is, allowing what is prohibited on the basis of an emergency so as to create a system that does not cause economic congestion (Rasyidi 1976, 40). However, this concept must look at the real conditions whether it is included in the category of darurah and hajah, for example in an emergency condition that is not met because saving money does not have to be in a bank or at this time, Islamic financial institutions have spread financial institutions in Indonesia. The response from the Fatwa of the Indonesian lamã Council in fatwa No.1 of 2004 concerning Interest (Interest / Fã'idãh) explains that interest (interest / fã'idãh) is an addition imposed in money loan transactions (al-qardh) which is calculated from the principal of the loan without consider the utilization / principal yield, based on the time period, calculated with certainty in advance, and generally based on a percentage. Whereas Ȓibã is additional (ziyadah) without reward (If 'Audh) which occurs due to a delay in payment (Ziyadah al-Ajl), which was promised before (Isythuritha Muqoddiman). As for interest, MUI is of the opinion that the current practice of flower interest has met the criteria of Ȓibã that occurred at the time of the Prophet Muhammad, namely Ȓibã nasί'ah. Thus, the practice of earning money is a form of Ȓibã, and Ȓibã hàrăm is legal. Then the practice of this flowering is hàrăm, whether it is carried out by banks, insurance, capital markets, pawnshops, cooperatives, and other financial institutions as well as by individuals. Described in the fatwa, it also explains how to 10
11. make an agreement with Conventional Financial Institutions for areas where there is no office / network of Islamic Financial Institutions, this is allowed to carry out transaction activities in conventional financial institutions based on the principles of dharurat / hajat (MUI 2004, 434435). The Response Ùlamã to Profit sharing in The Era of Four Point Zero Regarding the Ùlamã's Response to Profit Sharing, the researcher first reviews in language the profit sharing. where (mudaraba) or profit sharing is a form of mufa'ala which comes from the word adh-dharb fi al ardh means walking on earth to make money. And it is also called qiradh with the letter qaf with the society of kasrah and the letter ra 'with the community of fathah without tasydid which comes from the word qardh which means to break or cut (Bassam 2006, 21). Meanwhile, according to the term, the two words are the same. Qiradh is the giving of funds by one person to another to be processed by way of trading, where the profits obtained are shared between the two of them with the conditions determined by them.Meanwhile, mudaraba is a cooperation contract between uda people where one gives an amount of money while the other gives labor services to process the money. the profit generated from this business is divided into two based on the conditions they have determined. In the book Biyatul Mujtahid wa Nihayatul Muqtashid it is explained that Muslims have no dispute that qiradh is permissible. First, that this existed in the era of ignorance, then it was recognized by Islam. They also agreed that the form of qiradh is that when someone hands over property to someone else to be used in a trading business, the party who works (is entrusted with the money) is entitled to a part of the profits from the property. That is, the part that has been previously agreed upon by both parties: a third, a quarter, or a half (Said 2002, 105). This view, according to Syakir Sula's opinion, the word mudharabah is taken from the word darb, namely business on earth. It is said so because the manager has the right to share the results of his labor and effort. Apart from being entitled to profit, he is also entitled to use the capital and try to run it with the desired direction and purpose. The people of Medina called this contract muqarada, where this word is taken from the word qard which means to submit. In this case the owner of the capital will hand over the rights to the management of the capital to the manager (Syakir 2004, 329). Then "profit sharing" is an innovative step in Islamic economics that is not only in accordance with the behavior of the community, but more than that profit sharing is a social balance step in obtaining economic opportunities. Thus, the profit sharing system can be seen as a more effective measure to prevent conflict between the rich and the poor from occurring in social life. Technically, the concept of profit sharing is implemented through a mechanism of capital participation on the basis of profit and loss sharing, profit sharing or reveneu sharing of a business project so that the owner of capital is a business partner, not as a lender of capital. This is manifested in the form of cooperation between the owners of capital and the second party in carrying out business units or economic activities on the basis of mutual need. The response among Jumhur ùlamã was that it was permissible for the results. In their opinion, this revenue-sharing is exempted by the sunnah from the prohibition of selling something that has not yet happened, and from unclear renting. According to Imam Malik, the legal law for profit sharing is that the profit sharing contract is a binding contract (customary) with words, not by deeds. This is not the case with qiradh, which can only occur (manifest) with actions (work), not with words. Imam Malik also argued that the profit sharing contract was a contract that could bring someone who could be trusted to work, when the heir (from the person who signed the contract) could not be trusted. The trusted person should work, if the heir refuses the inheritance (Rusyd 1990, 250). The response of Imam Madhab such as Imam Shafi'i argues that if someone hands over property to another person 11
12. as mudharabah (profit sharing) venture capital, but the owner of the capital does not order the manager to cash out his assets nor prohibit it, then the manager will deposit it in a sale or purchase, then everything is the same where the manager must compensate for losses, unless the owner of the capital blesses it or it is found that evidence that the owner of the capital allows the manager to do so. If a person holds an asset as mudharabah (profit sharing) business capital, then he uses the property in a non-cash transaction and the owner of the property does not order or prohibits it (i.e. in his words), then if something happens to the property, the manager must compensate the owner of the capital. Other Imam Madzhab such as Abu Hanifah argues that capital managers in the mudaraba business do not need to compensate for losses. Whatever he lends is something that is allowed. This opinion is the view of Abu Yusuf. Meanwhile, Ibn Abu Laila argues that the capital manager must compensate for losses unless he can present evidence that the owner of the property has allowed him to make non-cash transactions. But if the manager gives capital to someone else as a debt, then he must compensate for the loss in the opinion of both, because debts are not part of the mudharabah business (Abdullah 2006, 137). As for Ibn Munzir, it is argued that the ùlamãs agree that workers must require the owner of the capital that he gets a third or half of the profit, or on the basis of an agreement between the two after this has been known about the parts. If it were assigned to him all profits, a known number of dirhams or an unknown portion, then this kongsi would not be valid (al-fauzan 2005, 468). In terms of the practice of mudarabah, the essence is I Believe, I Trust, which means I believe or I trust. The word for profit sharing which means trust, means that the business entity as the sahibul mal puts trust in someone to carry out the mandate given. These funds must be used properly, fairly, must be accompanied by clear ties and conditions that are mutually beneficial for both parties (Muhammad 2001, 27). So in essence, the concept of "profit sharing and loss sharing" offered by Islam is the mudarabah system or what is called the concept of profit sharing and revenue sharing, where the profits and losses from a collaboration are borne by all parties working together. Profit sharing according to Indonesian etymology is for profit. In the economic dictionary it means profit sharing. Profit sharing according to the term is the difference that arises when the total revenue of a company is greater than the total cost (total cost). Another term for profit sharing, namely the calculation of profit sharing is based on the net result of total income after deducting the costs incurred to obtain this income. In Islamic banking, the term that is often used is profit sharing, where this can be interpreted as a division between profit and loss from the income received on the results of the business that has been done (Yunus 2009, 90). Another principle is revenue sharing, which in the language of revenue means incoming money, income, or income. In banking terms, revenue sharing means a process for revenue that is carried out before calculating operational costs borne by the bank, usually the income distributed is only income on investment funds, funds do not include commissions or services provided by business entities because of this income. first it must be allocated to support the operating costs of the business entity (Karim 2004, 45). This means that in this case related to the distribution of funds to the manager or mudarib of the revenues obtained by the business entity without waiting for deductions for the costs issued by the business entity in managing funds mandated by certain managers, on the one hand the implementation of revenue sharing is contradictory with the profit sharing principle itself, because in the profit sharing principle the investor should be responsible for the funds mandated by him, thus this has a share in the management of the funds, even if there is a loss in the business, Sahibul mal or the investor must share the loss as well. An example in this case is the method of taking the law by the Ulama, for example the profit sharing pattern of business mudarabah at the BUMP Al Luqmaniyyah Islamic Boarding School, Yogyakarta City, Yogyakarta Special Region which consists of several business 12
13. entities , not all of them are the same in applying the profit sharing pattern. There are several business entities in BUMP that apply a profit sharing pattern in the form of revenue sharing, which means that the profit sharing before deducting the operating costs of the business and there are also those that apply a profit sharing profit sharing scheme where the profit sharing is after deducting the operational costs of the business entity. In the perspective of syari'ah business law, this kind of profit sharing pattern is related to the mudarabah agreement in accordance with the principles of syari'ah. This can be seen from the fulfillment of terms and conditions, conformity with Islamic principles regarding economic regulation (muamalah) and sharia business ethics. The practice of mudarabah carried out at BUMP is based on cooperation and the sharing of the results is in accordance with the initial agreement between the manager and shahibul mall to avoid Ȓibã and things that are vague or gharar (Putra 2018). Other impacts, such as on the development of halal tourism, which has been increasing globally until now. With the change in the nomenclature of sharia tourism to become halal tourism, there will also be a change in thinking in the results. Where is the concept of halal tourism which contains elements of principles sourced from the Al-Quran and al-Sunah (Hakim et al. 2017). With the existence of tourism trends, there is also a need for a compliance model to halal tourism, so in this case in the Qawaid Fiqhiyah ‫ االصل فى السياحة االباحة االان يدل على خالفه‬where the principle of tourism law is allowed unless there are arguments that argue against it. Therefore, there needs to be support from the government regarding tourism development both from the government, infrastructure, human resource development, and products and services. In addition, there is also a need for more inclusive action involving the wider community. As for the Profit Sharing Principles of the Ùlamã perspective, the researcher will explain in detail as follows: Principles of Profit Sharing at Ùlamã opinion in The Era of Four Point Zero As one of the principles of "profit sharing" in the viewpoint of the ulama, in this case, the profit sharing system is a system in which an agreement or joint bond is made in conducting business activities. In this business, an agreement was made for sharing the profits between the two parties or more (Rival and Arifin 2010, 800). Profit sharing is a form of return or acquisition of business activities from investment contracts from time to time, uncertain and not fixed in Islamic banks. The size of the recovery depends on the results actually obtained by Islamic banks. In the Islamic banking system profit-sharing is a mechanism that is carried out by mudharib Islamic banks in an effort to obtain results and distribute them back to the owners of shahibul mall funds according to the contract agreed upon at the beginning. The amount of determining the portion of the profit sharing between the two parties is determined by an agreement and must occur with the willingness of AtTarodhim by each party without coercion. The income distributed is the income that has actually been received on the cash basis, while the income that is still recognized on the accrual basis is not allowed to be shared between mudarib and shahibul maal. In Islamic law, the application of profit sharing must pay attention to At Ta'awun's principles, namely mutual help and cooperation among community members for good, as stated in the Al Quran, letter al-maidah verse 2: ِ‫وتَ َعاونُوا َعلَى الهِ ِِٰب والتَّ هقو ٰى وَل تَ َعاونُوا َعلَى ه‬ ‫اْل هِْث َوالهعُ هد َو ِان‬ َ َ َ َ َ َ Meaning: And help you in (doing) goodness and piety, and don't help in committing sins and transgressions. (Q.S. an-Nisa’ : 29). . 13
14. While there are several principles in profit sharing , including the researcher will explain in detail below, including: The Principles of Tauhid and Brotherhood in Profit Sharing in The Era of Four Point Zero The principle of Tauhid and Brotherhood in Profit Sharing here is where "Tauhid" which literally means one or one, in an economic context suggests how to relate to other people in relation to God. This principle states that behind the economic practice which is based on exchange, allocation of resources, satisfaction and benefits, there is one very fundamental belief, namely justice and social affairs. In Islam, to understand this comes from understanding and experiencing Al-Ꝗur'ãn. With this mindset, the principles of monotheism and brotherhood have the principles of equality and cooperation. The consequence is that the principles of monotheism and brotherhood are important definitions in Islamic economics, namely that whatever is in the heavens and on earth belongs only to Allõh SWT, and that he has made it the same for the needs of humans and other creatures. Humans have been created and given the trust by God to use and distribute equally His resources on earth (Dawwabah 2006, 13). In this case, career women in building the economy of Indonesian society, especially in the Industrial Revolution Era 4.0, are not only men who are relied on as research by (Said 2020), that career women in terms of building their family's economy are also allowed on the condition that they can share time with family . Principles of Work in Profit Sharing in The Era of Four Point Zero The Working Principles in Profit Sharing here confirms the work and compensation for the work that has been carried out. This principle also determines that a person must be a professional with the category of work being done. That is, there must be calculations such as “hours of work people” and there must also be a specific category for each worker or skill. Then the wages of each specification must also be based on the minimum wage and adjusted to the government. so that the Work Principle in Profit Sharing in the Era of the Industrial Revolution 4.0 needs to be applied to support a prosperous economy in Indonesia. Professionals in Islamic economics, the relation to profit sharing in Islamic banking is different from the profit sharing principle offered by conventional banks, so it is concluded that in Islamic banking there is no interest or entry to Ȓibã, but in Islamic banks what is known is the profit sharing principle, and in conventional bank which is called bank interest is usury, that's the difference. Principles of Distribution and Wealth in Profit Sharing in The Era of Four Point Zero The principle of distribution and wealth in profit sharing here emphasizes the right of the community to distribute their wealth which is used for the purpose of retribution in an Islamic economic system, namely zakat, shadaqah, ghanimah. Islamic law on inheritance encourages the distribution of one's wealth. So the retribution of income and wealth equally applies to the State and the basis of unity and brotherhood. The aim is to increase the productive transformation of national income and wealth into employment opportunities to create welfare for citizens. In addition to profit sharing in halal smelting, it is also necessary as research (Harahap 2020) that in the community of Nangka VI Binjai Utara Village, North Sumatra, it was found that there was a significant influence from the local community regarding the incorporation of halal in food and beverages. As for the profit sharing related to the General Allocation Fund and the Special Allocation Fund as well as the Revenue Sharing Fund which have a simultaneous effect on the Human Development Index (IDM) in regencies and cities throughout North Sumatra Province (R. U. Harahap 2017). For this 14
15. reason , the Principles of Distribution and Wealth in Profit Sharing in the Era of the Industrial Revolution 4.0 need to be developed in order to improve the economy in Indonesia. The Principle of Balance in Profit Sharing in The Era of Four Point Zero The principle of balance in profit sharing, in this case is related to balance, which is a basic value that can affect various aspects of Islamic economic life, such as simplicity, frugality and avoiding waste. The concept of balance is not only a comparison of the improvement of the results of efforts directed to and ãkhirãt, but also related to the general nature that must be maintained and the balance between rights and obligations (Syaefuddin 1987, 66). This is as the firma of Allõh Swt in the letter al-A'raf verse 31 as follows: ‫ب‬ ُّ ‫آد َم ُخ ُذوا ِزينَ تَ ُك هم ِعهن َد ُك ِٰل َم هس ِج ٍد َوُكلُوا َوا هشَربُوا َوََل تُ هس ِرفُوا إِنَّهُ ََل ُُِي‬ َ ‫ََي بَِِن‬ ِ ‫ي‬ َ ‫اله ُم هس ِرف‬ Meaning: O descendants of the prophet Adam, wear your beautiful clothes in every (entering) mosque, eat and drink, and don't overdo it. In fact Allõh does not like people who are extravagant (Q.S al-A’raf : 31). In terms of the balance in profit sharing, it also needs to be accompanied by the use of telecommunications media such as the online profit sharing method. With the demands of the times in this all-digital era, where we are presented with the era of the Industrial revolution 4.0, especially doing business or playing in the Covid 19 pandemic, it shows that the trend is now time for us to change by adjusting to the times, which of course uses the Principle of Balance in the present era. namely related to Profit Sharing (Burhanuddin 2020). Another case of research by (A. Rahmah 2020) which explains that, for example, Sharia Mutual Funds and Conventional Mutual Funds, which are sharia-based mutual funds are quite balanced, by experiencing more benefits compared to Orchid Mutual Funds (conventional mutual funds). Impact of Bank Interest (Ȓibã) on the Indonesian Economy In the era of the Industrial Revolution 4.0 as today, the State of Indonesia is one of the largest countries embracing Islam, but the new sharia system received permission to operate on 1 May 1992 (27 Shawwal 1412 H), namely by establishing Bank Muamalat Indonesia (BMI) which was initiated by Indonesian Ùlamã Council (MUI). The onset of the crisis that began in 1997 was a test for the first time the Islamic financial system in Indonesia. The crisis, which initially started only from the baht exchange rate crisis in Thailand, spreads to an economic crisis, continues to become a social crisis, even to a political crisis. Finally, at its peak, it paralyzed almost all aspects of the nation's life. The crisis which had been ongoing for six months during 1997 was getting worse at a relatively fast pace. So that on November 1, 1997 the Indonesian government revoked the licenses of 16 banks because they were declared unable to run their operations. Meanwhile, Bank Muamalat Indonesia (BMI) was not the case, BMI escaped from the crisis. Basically, a bank that runs its operational system using interest experiences a big loss, while a bank that operates a profit sharing system (sharia) is not the case (Mashuri 2017). So that the impacts that arise include the researchers will explain as follows: The impact of Bank Interest (Ȓibã) on the Economy in Indonesia, namely the first Economic Impact, the impact of the first Bank Interest is an impact on the economy of a country as an opinion (Antoni 2001, 67). According to him, the negative impact of Ȓibã in the economy is the impact of the inflators caused by interest as it costs money. This is 15
16. because one of the elements of pricing is the interest rate . The higher the interest rate, the higher the price that will be fixed on an item. In this case (Agustianto 2010) in Ȓibã and Meta Economics of Islam the impact of Ȓibã on the economy includes: First in the economic system, Ȓibãwi has caused many economic crises throughout history Throughout history, from 1930 to the present due to fluctuations in ethnic levels interest, has opened opportunities for speculators to speculate which can lead to economic volatility in many countries. Second, under the Ȓibãwi economic system, there will be a constant gap in the economic growth of the world community, so that the rich get richer and the poor get poorer. Third, the interest rate also affects investment, production and the creation of unemployment. The higher the interest rate, the lower the investment. If investment decreases, production also decreases. If production decreases, it will increase the unemployment rate. Fourth in economic theory also teaches that interest rates will significantly lead to inflation. Inflation caused by interest is inflation that occurs due to human activity. In addition, in the realm of the establishment of an independent Indonesian society in the Industrial Revolution Era 4.0 as it is today in activities related to community economic empowerment during the COVID-19 pandemic, which can be done by providing capital, motivation, and training for the community, this is according to research by (Karback et al. al. 2020) in his journal which discusses the economic empowerment of independent communities through the role of Lazismu in East Java. The second impact of Bank Interest (Ȓibã) on the Indonesian Economy is in the realm of Community Social Impact, the social impact of the community related to Ȓibã in terms of unfairly earned income. The takers of Ȓibã use their money to order others to try and return, for example, twenty-five percent more than the amount loaned. The problem is, who can guarantee that the business that this person runs will get a profit of more than twenty five percent. We know that whatever efforts are made will have two possibilities, namely success and failure. However, this is not the case with Ȓibã. By determining Ȓibã among the community, it ensures that the business being managed is sure to profit. In this case it is also necessary to have a Pancasila economy which is an economic system that is mutual in nature and this is in accordance with the spirit of jihad. Islamic economics in the realm of realizing social justice and economic welfare for all people on this earth, especially in Indonesia (Salihin 2020). In social society, there is also a need for business ethics, in business ethics it is also known as the ethical concepts of Shiddiq, tabligh and amanah and fathanah, as research findings (R. A. Rahmah 2020) at a steak and shake stall in Medan, North Sumatra, have already implemented the concept of Islamic business ethics. Another case with business ethics that was also found by (Rahayu and Marzuki 2020), there was a negative impact that was caused in the implementation of the Hajj bailout fund where the Hajj bailout fund was not in accordance with Islamic business ethics and principles, with the negative effect in this haj bailout, namely prospective pilgrims. be waiting for a long queue. The third impact of Bank Interest (Ȓibã) on the Indonesian Economy is the Impact of Company Resilience, the next impact of Ȓibã, which is entering into the resilience of a certain institution or company, If one of the principles of a company is a going concern or the company will last forever then the company will pass various economic conditions at any time, the weather in which the economic conditions can be sunny and it can also be very extreme at certain times, therefore only companies that have resilience will survive. Realizing this situation, the company will always look for ways and schemes to survive various kinds of economic conditions, so the question is to what extent the interest affects the company's resilience. The above problems, in fact, never happened if Islamic economy was adopted in the country's economic system. Because the value of money will not be affected by differences in real interest rates, because Islamic economics does not recognize an interest system (Ȓibã). This is why the value of money in an interest-free economy does not experience volatility or the basic measure for not being exposed to significant risk, namely 16
17. dangerous volatility . In Indonesia, in the era of the industrial revolution 4.0, as now the Ȓibãwi economic system has had a very bad impact on the Indonesian economy. This is similar to what was said by (Arsita 2020) where in this industrial era 4.0 we are required to change the way of life both in working and relating to one another (muamalah). Likewise the opinion (Ari Kuncoro 2019) where in the method of taking in the Industrial Age 4.0 it is referred to as a trade balance or head line matching. This method is included in the realm of behavior (muamalah) in the community, including among the Heads of State and capital owners to users or consumers obtained from online news. Research exemplified by (Olivia 2019) in a company that is progressive and successful today is a company that has been able to predict for a long time, even from the very beginning of a company to fight the progress and development of its company by knowing and studying several related aspects. with the company starting from knowing the threats, strategies, development and financial processing very carefully, related to finance where this finance is the heart of the company and that determines the course of the company, if the company's finances are not stable it will very easily open up opportunities for company destruction due to not able to manage a financial company so that it is not maximal from the company's usual operating costs and revenue costs, therefore it is necessary to predict in advance the company's finance related to the ability of income generated by a company using ROI analysis, namely Panja From the returns on investmaent, the results obtained by the company appear to produce satisfactory profitability in the next five years so that the company can maximize input and output for the company's profit or income. The influence of these financial factors was also studied by (JPR Harahap, Daulay, and Torong 2018) where from the start (independence ratio), effectiveness ratio, efficiency ratio, size, leverage, and PAD had a significant effect on economic growth simultaneously in the North Sumatra region. . So in the case of the Impact of Bank Interest (Ȓibã) on the Economy in Indonesia which has an Impact on Company Resilience, it must be removed far away in order to increase Regional Original Income in Indonesian territory. CONCLUSION Based on the above discussion regarding the Ùlamã response to the Ȓibã norm, bank interest, and for the results of the Industrial Revolution Era 4.0 mentioned above, it can be concluded that several conclusions include: The First, the Ùlamã's response to the Ȓibã norm in Islamic economics is a matter of khilafiyah as well as the law of bank interest, in principle, mutual tolerance and mutual respect and respect for inter-opinions must be put forward. This is because each ùlamã group has devoted its energies to performing ijtihad to find the law of the problem, and in the end their opinion remains different. Therefore, a Muslim is given the freedom to choose an opinion according to the stability of his heart. If his heart is determined to say that bank interest is permissible then he can follow the opinion of the ãlamã who allows it. Meanwhile, if his heart is in doubt, he can follow the opinion of the ùlamã who respects him. Second, the Ùlamã's response to the norms for profit sharing in Islamic economics considers that "profit sharing" is an innovative step in Islamic economics which is not only in accordance with the behavior of society, but more than that, namely where the position of "profit sharing" is a social balance step in gaining opportunities bermuamalah, especially in the Industrial Revolution Era 4.0 like now. Thus, the profit sharing system in this case can be seen as a more effective measure to prevent conflict between the "rich and the poor" in social life. And technically what is contained in the concept of profit sharing is implemented through a mechanism of capital participation on the basis of profit and loss sharing, profit sharing or reveneu sharing of a business project, thus the owner of capital is a business partner, not as a lender of capital. This is manifested in the form of cooperation between the 17
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