PROFIT SHARING
Abstract
Keyword :
A.
Introduction
B.
Analysis
1.
Profit Sharing Theory
a.
Definition of profit sharing Profit
sharing
According
to foreign terminology (English) is known as profit sharing. Profit in the
economic dictionary is defined as profit sharing. By definition profit
sharing is defined as "the distribution of some part of profits to
employees of a company". According to Antonio, profit sharing is a
system of processing funds in an Islamic economy, namely
the distribution of business results between the owners of capital (shahibul
maal) and managers (Mudharib).[1]
The
profit sharing system is a system in which a joint agreement or bond is made in
conducting business activities. In this business, it is agreed that there will
be a sharing of the profits to be obtained between two or more parties. Profit
sharing in the sharia banking system is a special feature offered to the
public, and in sharia rules relating to the distribution of business results it
must be determined in advance at the beginning of the contract (akad). The
amount of the determination of the profit sharing portion between the two
parties is determined according to mutual agreement, and must occur with the
willingness (An-Taradhin) of each party without any element of coercion.[2]
b.
Concept of profit sharing
Concept
of profit sharing is very different from the concept of interest applied by the
conventional economic system. In sharia economics, the concept of profit
sharing can be described as follows:
1)
Fund owners invest their funds
through financial institutions that act as fund managers
2)
The manager manages these funds in
a system known as the pool of funds system, then the manager will invest these
funds into projects or businesses that are feasible and profitable and meet all
aspects of sharia
3)
Both parties make an agreement
(contract) which contains the space for the cooperation environment, the
nominal amount of funds, the ratio, and the validity period of the agreement[3]
c.
DSN-MUI Fatwa Regarding Mudharabah
Agreement
DSN-MUI
Fatwa number: 115/DSN-MUI/IX/2017 Regarding Mudharabah Contracts including:
1)
Mudharabah contract is a business
cooperation agreement between the capital owner (shahibul maal) which provides
all capital with the manager (mudharib), and business profits are divided
between them according to the ratio agreed upon in the contract
2)
Profit sharing ratio is a ratio or
comparison expressed by numbers such as percentages for dividing operating
results
3)
Mudharabah muqayyadah is a
mudharabah contract which is limited by the type of business, period of time (time),
and or place of business
4)
Business profit is operating income
from investment
5)
Mudharabah business capital must be
handed over (al-taslim) in stages or in cash according to the agreement.
Mudharabah business capital is basically obligatory in the form of money, but
it may also be in the form of goods or a combination of money and goods. The
amount or nominal value of the business capital submitted must be explained
6)
The mudharabah contract must be
stated explicitly, clearly, easily understood and understood and accepted by
the parties
7)
Mudharabah contracts may be made
orally, in writing, gestures, and deeds or actions, and can be carried out
electronically in accordance with sharia and applicable laws and regulations.
2.
Mudharabah Contract Theory
a.
Understanding mudharabah
contract
An agreement is a contract or agreement made by two parties that are mutually
binding between them to agree on a matter, the terms and conditions must be
explained in detail by both parties. If there is a breach of contract, the violating
parties will be subject to sanctions in accordance with the agreement in the
contract.[4]
Linguistically, Mudharabah comes from the word dharb
which means to travel generally for business. Mudharabah is also called qiradh
or muqaradah which means al at'u (cuts) because the owner cuts off part of his
property to be traded by entrepreneurs. The term mudharabah has been
popularized by Iraqi scholars, while qiradh or muqaradhah was popularized by
Hijaz scholars and from the two terms there is no difference in principle.[5]
In terms, Mudharabah is a business cooperation
contract between two parties in which the first party (shahibul maal)
provides all the capital while the other party becomes the manager (mudharib)
with mutually agreed profit sharing in accordance with the agreed agreement,
while losses are only borne by the owner of the capital, the manager does not
bear material losses because he has borne other losses in the form of energy
and time.[6]
The Hanafi school, mudharabah is a contract for a
company in profit with capital assets from one party and with work (business)
from another party. Maliki school, Mudharabah is a provision of capital or
(taukil) to trade in cash which is submitted (to the manager) by getting a
portion of the profits if the amount and profit are known. According to the
Shafi'i school, Mudharabah is a contract that includes the transfer of capital
to another person to work on it and the profits are divided between them both.
The Hambali school of thought, Mudharabah is the surrender of a certain and clear
amount of capital or its meaning to the person who works on it by getting a
certain share of the profits.[7]
The basis of sharia used by scholars who apply
mudharabah are:[8]
1)
Al-Quran
"And of those who walk the
earth seeking some of the bounty of Allah. (Surat al-Muzammil verse 20). When
the prayer has been fulfilled, scatter you on the earth and seek the bounty of
Allah SWT (Surah al-Jumuah verse 10). There is no sin (obstacle) for you to
seek the bounty of your Lord” (Surah al-Baqarah verse 198). one hundred
and ninety-eight
2)
Al-Hadith
From
Salih Bin Shuhaib ra. That the Messenger of Allah said, three things in which
there are blessings: buying and selling tough, muqaradhah (mudharabah), and
mixing wheat with flour for household purposes, not for sale (HR. Ibn Majah).
As
explained in the provisions of article 1 number 5 of Bank Indonesia regulation
Number 7/46/PBI/2005 that what is meant by Mudharabah is the investment of
funds from the owner of the shahibul maal fund to the manager of the mudharib
fund to carry out certain business activities, with the distribution using the
profit and loss sharing method. profit and loss sharing or a method for revenue
sharing between the two parties based on a pre-agreed ratio.
Then
the explanation of article 3 of Bank Indonesia regulation Number 9/19/PBI 2007
also explains that what is meant by Mudharabah is an investment transaction
from the owner of the shahibul maal fund to the manager of the mudharib fund to
carry out certain business activities in accordance with sharia, with the
distribution of operating results between the two parties. parties based on a
pre-agreed ratio.
b.
Kinds of Mudharabah
1)
Mudharabah Muthlaqah.
Mudharabah
muthlaqah is a mudharabah contract in which the shahibul maal gives freedom to
the fund manager (mudharib) in managing his investment (PAPSI, 2003).[9] In
Mudharabah Muthlaqah, entrepreneurs are free to manage capital in any type of
business that he thinks will bring profits and in any place. what he wants. In
its implementation, Mudharabah Muthlaqah does not mean unlimited freedom,
because it still pays attention to other conditions permitted in Islam, for
example, it is not allowed to finance projects or investments that are
prohibited by Islam.[10]
2)
Mudharabah Muqayyadah.
Mudharabah
muqayyadah is a cooperation agreement between two parties in which the shahibul
maal invests his funds in the mudharib, and sets limits or uses the funds
invested.limits include:[11]
a)
Place and method of investing
b)
Type of investment
c)
Object of investment
d)
Time period
In
Mudharabah Muqayyadah, entrepreneurs must follow the terms and restrictions
made by the owner of the capital. For example, having to trade with certain
types of goods, and buying goods to certain people. In other words, the line of
trade, line of industry, or line of service will be determined and from whom
the goods will be purchased.[12]
c.
Mudharabah
principles The mudharabah
principles are specifically divided into five, namely:[13]
First,
the principle of profit sharing among the parties to the mudharabah
contract, in a mudharabah contract, net profit must be divided between
shahibul maal and mudharib based on a fair proportion as previously agreed upon
and explicitly stated in the mudharabah agreement. Profit sharing cannot be
done before the existing losses are covered and the shahibul maal's equity is
fully returned.
Second,
the principle of sharing losses between the contracting parties, in
mudharabah, the principle of balance and justice lies in the distribution of
losses between the contracting parties, the financial loss is entirely borne by
the owner of the capital, unless there is evidence of negligence, error, or
fraud. done by the mudharib (manager), meanwhile, the mudharib (manager) bears
the loss in the form of time, effort, and effort. He got nothing from his hard
work.
Third,
the principle of clarity in mudharabah, the issue of the amount of capital to
be given shahibul maal, the percentage of profits to be distributed, the
conditions desired by each party, and the term of the agreement must be stated
firmly and clearly, clarity is a principle that must exist in the agreement.
For this contract, a written agreement must be carried out in a mudharabah
contract.
Fourth,
the principle of trust and trust, the issue of trust, especially on the part of
the capital owner, is a determining element for the occurrence of a mudharabah
contract. If there is no trust from the shahibul maal, the mudharabah
transaction will not occur. For this reason, the shahibul maal can terminate
the mudharabah agreement unilaterally if he no longer has trust in the
mudharib. This trust must be balanced with the attitude of trust from the
manager.
Fifth,
the principle of prudence, prudence is an important and fundamental principle
in the mudharabah contract. If the manager does not have a careful attitude,
then his business will suffer losses, in addition to losing financial benefits,
loss of time, energy, and hard work that has been dedicated, he will also lose
trust.
d. Pillars of Mudharabah
The
pillars of mudharabah are things that must be fulfilled in order for the
mudharabah contract to be implemented. According to the majority of scholars,
there are three pillars of mudharabah, among others:
1)
Two people who have a contract, namely the manager of capital
(mudharib) and people who have capital (shahibul maal)
2)
The agreed material or the contracted object consists
of capital (maal), work, profits
3)
Shighat, namely surrender (ijab) and
accept (kabul). Meanwhile, according to the Hanafiyah school, the pillars of
mudharabah are only one ijab (expression of surrender of capital) and qabul
(expression of receiving capital and an expression of agreement by both
parties).[14]
C.
Conclusion
Reference
Syafi'I
Antoni, Islamic Banking Theory and Practice (Jakarta: Gema Insani, 2001), p. 90
Muhammad,
Profit Sharing and Profit Margin Calculation Techniques in Islamic Banks,
(Yogyakarta: UII Press, 2004) p. 18
Ach.
Bakhrul Muchtasib, Profit Sharing Concepts in Islamic Banking, (Jakarta:
Rajawali Pers, 2006)
M.
Nur Rianto Al Arief, Islamic Financial Institutions A Practical Theoretical
Study, (Bandung: Pustaka Setia, 2012) p. 225.
Neneng
Nurhasanah, Mudharabah in Theory and Practice, (Bandung: PT Refika Aditama,
2015), p. 66
Neneng
Nurhasanah, Mudharabah in Theory and Practice, (Bandung: PT Refika Aditama,
2015), p. 67
Muhamad
Al Imron, implementation of the principle of the mudharabah contract at the
Malang branch of family takaful insurance, sharia faculty thesis 2017
Strong
Ismanto, Sharia Insurance Overview of the Principles of Islamic Law,
(Yogyakarta: Learning Library, 2009), p. 58-59
Ismail,
Islamic banking, (Jakarta: Kencana, 2011), p. 86
Neneng
Nurhasanah, Mudharabah in Theory and Practice, (Bandung: PT Refika Aditama,
2015), p. 78
Ismail,
Islamic banking, (Jakarta: Kencana, 2011), p. 87
Neneng
Nurhasanah, Mudharabah in Theory and Practice, (Bandung: PT Refika Aditama,
2015), p. 78
Neneng
Nurhasanah, Mudharabah in Theory and Practice, (Bandung: PT Refika Aditama,
2015), p. 78-81.
Adrian
Sutedi, Overview of Sharia Banking and Some Legal Aspects, (Bogor: Ghalia
Indonesia, 2009), p. 75.
BACA ARTIKEL LAINNYA YANG BERKAITAN:
- Makalah Ayat-Ayat Yang Berkaitan Dengan Dasar Umum Bisnis Islam
- Makalah Tafsir Ayat Tentang Penjualan Jasa (Ijarah)
- Jurnal Bahasa Inggris Profit Sharing
- Makalah Pengertian Produk, Ciri-Ciri, Dan Kriteria Produk Disukai Pasar
- Pengertian Tata Hukum Dan Makalah Pengantar Hukum Indonesia
- Makalah Sumber Hukum Di Indonesia
- Makalah Macam-Macam Lembaga Tinggi Negara
- Makalah Sejarah Dan Perkembangan Hukum Di Indonesia
[1] Syafi'I
Antoni, Islamic Banking Theory and Practice (Jakarta: Gema Insani, 2001), p. 90
[2] Muhamad, Profit Sharing and Profit Margin Calculation Techniques in Islamic Banks, (Yogyakarta: UII Press, 2004) p. 18
[3] Ach. Bakhrul Muchtasib, Profit Sharing Concept in Islamic Banking, (Jakarta: Rajawali Pers, 2006)
[4]
M.
Nur Rianto Al Arief, Islamic Financial Institutions A Practical Theoretical
Study, (Bandung: Pustaka Setia, 2012) p. 225.
[5]
Neneng
Nurhasanah, Mudharabah in Theory and Practice, (Bandung: PT Refika Aditama,
2015), p. 66
[6] Ibid,
hal. 67
[7]
Muhamad
Al Imron, implementation of the principle of the mudharabah contract at the
Malang branch of family takaful insurance, sharia faculty thesis 2017
[8]
Strong
Ismanto, Sharia Insurance Overview of the Principles of Islamic Law,
(Yogyakarta: Learning Library, 2009), p. 58-59
[9] Ismail, Islamic banking, (Jakarta: Kencana, 2011), p. 86
[10] Neneng Nurhasanah, Mudharabah in Theory and Practice, p. 78
[11] Ismail, Islamic banking, (Jakarta: Kencana, 2011), p. 87
[12] Neneng Nurhasanah, Mudharabah in Theory and Practice, p. 78
[13] Ibid, p. 78-81.
[14]
Adrian Sutedi, Overview of Islamic Banking and Some Legal Aspects,
(Bogor: Ghalia Indonesia, 2009), p. 75.
