Financing Products in Islamic Financial Institutions Based on Istishna Agreements

Produk Pembiayaan pada Lembaga Keuangan Syariah Berbasis  Akad Istishna

Abstract

This research aims to analyze the implementation of the Istishna contract in Indonesian Sharia Banking, whether the application of financing implemented by sharia banks in Indonesia has met the requirements of Sharia standards which have been regulated in the Fatwa of the National Sharia Council (DSN) Number 6, Sharia Accounting Standards Number 104. Research method What is used is qualitative and the paradigm used is interpretative and a case study approach where researchers carry out exploration in real life. The data collection took the form of interviews, observation and documentation, while the analysis carried out was Interpretative Phenomenological Analysis (IPA). This research is a type of descriptive qualitative research that describes the whole and represents the phenomenon by trying to reveal the meaning of a person's experience and the meaning of something experienced by a person which depends on how the person relates to something. The results of this research show that in practice there are several objects which deviates from the buying and selling transaction paradigm, because of unpredictable price changes. Istishna contract-based financing carried out by one of the sharia banks to represent all types of transactions in sharia banks in Indonesia.