The Principle of Reciprocal Justice in Murabahah Financing at Sharia Rural Financing Banks

Abstract

This article aims to explore the dominance of murabahah financing contracts based on reciprocity justice at BPRS Magetan and BPRS Mitra Mentari Sejahtera Ponorogo. Murabahah is a form of financing with a selling price that is determined from the start so that it can facilitate the community in fulfilling their needs without usury and gharar. In this study, the focus is given to the determination of price difference and risk coverage in murabahah financing. The analysis method used is a multicriteria analysis with two stages. The first stage is a personal case analysis of each research object, and the second stage is a cross-case multisite data analysis to compare data from both research objects. The dominance of reciprocity justice-based contracts in determining the price difference is seen in the equality of rights and obligations between BPRS and customers. The sharing of price differences provides benefits for both parties. For BPRS, the division of price difference can increase profit value and meet OJK standardization requirements. For customers, price difference sharing can facilitate installment payments and ensure the quality of the goods purchased. However, the management of financing contracts also has a high risk. The risk of BPRS income and the risk of returning obligations by customers must be borne together proportionally and resolved through deliberation. Therefore, this research seeks to find a basis for the domination of murabahah financing contracts based on reciprocity justice to optimize benefits and minimize risks in murabahah financing.