Integrasi Prinsip Keadilan dan Risiko dalam Akad Musyarakah: Studi Komparatif Fatwa DSN-MUI dan Konsep Partnership dalam Ekonomi Islam Kontemporer
DOI:
https://doi.org/10.35896/0n181y38Abstract
Musyarakah adalah akad pembiayaan berbasis bagi hasil yang menempatkan keadilan dan risiko sebagai inti prinsip kontraktualnya. Fatwa DSN-MUI No. 08/DSN-MUI/IV/2000 mengatur prinsip-prinsip keadilan dan pembagian risiko dalam pelaksanaan akad Musyarakah di Indonesia. Artikel ini membandingkan norma dalam fatwa tersebut dengan konsep partnership dalam ekonomi Islam kontemporer, yang menekankan pada struktur kemitraan, risk sharing, dan keadilan distributif. Pendekatan penelitian bersifat normatif dan komparatif dengan metode fiqih muamalah dan analisis ekonomi Islam. Berdasarkan tinjauan literatur dan studi kasus lokal, ditemukan bahwa meskipun Fatwa DSN-MUI telah menetapkan kerangka keadilan dan risiko, dalam praktik terdapat penyimpangan terutama dalam hal pembagian kerugian dan transparansi. Konsep partnership kontemporer menawarkan alternatif penguatan norma-norma tersebut melalui model risiko-kepemilikan/modal yang adil dan mekanisme kontrol partisipatif. Artikel ini merekomendasikan integrasi praktik dan regulasi agar akad Musyarakah semakin konsisten dengan prinsip keadilan dan pembagian risiko, terutama di lembaga keuangan syariah dan fintech.
References
Abdi, M. N., & Hamzah, N. (2024). Application of Sharing Risk in Musharakah Contracts. 133–148.
Abedifar, P. (2023). Formalism versus Purposivism in Islamic Jurisprudence : The Case of Islamic Finance Law. 1–13.
Adinugraha, H. H., Shulhoni, M., & Achmad, D. (2023). Islamic social finance in Indonesia : Opportunities , challenges , and its role in empowering society. 2(1), 45–62.
Ahmad, K., & Berghout, D. A. (2025). Islamic finance and sustainable development: Balancing spirituality, values and profit. In Islamic Finance and Sustainable Development: Balancing Spirituality, Values and Profit. Taylor and Francis. https://doi.org/10.4324/9781003505570
Ahmad, Z., Muneeza, A., & Mahomed, Z. (2023). A Comparative Analysis of Shariah Governance Framework of Islamic Bank in Malaysia and Pakistan. 3(1), 1–17.
Alkhan, A. M., & Hassan, M. K. (2021). Does Islamic microfinance serve maqāsid al-shari’a? Borsa Istanbul Review, 21(1), 57–68. https://doi.org/https://doi.org/10.1016/j.bir.2020.07.002
Asyiqin, I. Z., Mareto, I., & Genovés, M. B. (2024). The Role of Regulation in the Development of Sharia Fintech: A Review of Contemporary Islamic Economic Law. Sharia Oikonomia Law Journal. https://doi.org/10.70177/solj.v2i4.1241
Bakar, A., Isa, M. Y., Ahmad, N. H., Maamor, S., Ahmad, Z., Azma, N., & Bakar, A. (2024). THE ROLE OF ISLAMIC FINANCIAL LITERACY FROM THE PERSPECTIVE OF MAQASID AL-SHARIAH : A CASE STUDY OF COMMUNITY OF NAKA IN KEDAH. 9(2), 26–42.
Choung, Y., Chatterjee, S., & Pak, T.-Y. (2023). Digital financial literacy and financial well-being. Finance Research Letters, 58. https://doi.org/10.1016/j.frl.2023.104438
DSN-MUI. (2000). FATWA DEWAN SYARI’AH NASIONAL NO: 08/DSN-MUI/IV/2000 Tentang PEMBIAYAAN MUSYARAKAH.
Fahamsyah, M. H., Laila, N., & Syariefur, A. (2023). Profit-Loss Sharing in Islamic Banking : Global Insights from a Systematic Review. 14(2), 175–203. https://doi.org/10.21580/economica.2023.14.2.26021
Hayyi, H. Q., & Nuriyah, A. (2024). The Influence of Islamic Financial Literacy , Income , and Lifestyle on Financial Management among Housewives. 2, 49–57.
Hermala, I., Sunitiyoso, Y., & Sudrajad, O. Y. (2025). Green Financing Using Islamic Finance Instruments in Indonesia : A Bibliometrics and Literature Review. 15(1), 239–248.
Idris, R., Tareq, M. A., Fatimahwati, S., Dato, P., & Sumardi, W. H. (2025). The Halal Industry in Asia.
Kamil, A. (2025). Global Halal Standards and Competitiveness in The Halal Food Industry : A Systematic Review and Bibliometric Analysis. I, 45–60.
Lhokseumawe, I., Hye, A. K. M., & Ph, D. (2025). EXPLORING SMART CONTRACTS IN ISLAMIC FINANCE : BLOCKCHAIN-BASED SHARIAH-COMPLIANT TRANSACTIONS EKSPLORASI SMART CONTRACT DALAM KEUANGAN SYARIAH : PENERAPAN TRANSAKSI BERBASIS BLOCKCHAIN YANG SESUAI. 7(1), 50–61. https://doi.org/10.52490/at-tijarah.v7i1.6022
Mahmood, F., Arshad, R., Khan, S., Afzal, A., & Bashir, M. (2024). Impact of behavioral biases on investment decisions and the moderation effect of financial literacy; an evidence of Pakistan. Acta Psychologica, 247, 104303. https://doi.org/https://doi.org/10.1016/j.actpsy.2024.104303
Mohamed Abdulraheem Ahmed Al Hammadi. (2024). Risk Management in Islamic Banking: Exploring Financial Technologies, Credit Scoring, and Liquidity Practices in the UAE A Thesis Submitted for acquiring the PhD degree in Business Administration SUBMITTED BY: Mohamed Abdulraheem Ahmed Al Hammadi. December.
Muat, S., & Sari, N. (2022). How do digital financial literacy , financial behavior , and skills affect financial well-being ? An Exploratory Study on Gen Z. 728–744.
Muazzami, A., & Prasheila, I. (2024). TINJAUAN FATWA DSN NO.8/DSN-MUI/2000 TERHADAP KESESUAIAN KONTRAK PEMBIAYAAN AKAD MUSYARAKAH. Iqtishaduna: Jurnal Ilmiah Mahasiswa Hukum Ekonomi Syari’ah, 535–548. https://doi.org/10.24252/iqtishaduna.vi.50306
Mustofa, H. Z., Wahyudi, A., & Marpuah, S. (2025). JEBIS : Jurnal Ekonomi dan Bisnis Islam BRIDGING THE GAP BETWEEN MAQĀṢ ID AL- SHARĪ ‘ AH AND THE SDGs : 11(1), 49–81. https://doi.org/10.20473/jebis.v11i1.62689
Muttaqin, A. A., & Ahmad, A. A. (2025). Mapping Maqāṣ id Sharia Models in Islamic Economics : A Scoping Review of Literature ( 2018-2022 ). 15(1), 66–82.
Otuteye, E., & Siddiquee, M. (2020). Underperformance of Actively Managed Portfolios: Some Behavioral Insights. Journal of Behavioral Finance, 21(3), 284–300. https://doi.org/10.1080/15427560.2019.1692210
Purnama, N. A. L. S. Z. M. (2025). FROM FATWA TO COMPLIANCE IN ISLAMIC FINANCIAL ENFORCEMENT : DESIGNING GOVERNANCE AND SUPERVISION. 2, 192–215.
Ra, H., Rahayu, S., Hati, H., Ekaputra, I. A., & Kassim, S. (n.d.). The impact of religiosity and financial literacy on financial management behavior and well-being among Indonesian Muslims. 2024, 1–13. https://doi.org/10.1057/s41599-024-03309-6
Rahmatika, C. I., Yustati, H., Syariah, S. E., Islam, U., Fatmawati, N., & Bengkulu, S. (2024). Analisis Pengaruh Fatwa MUI terhadap Perkembangan Ekonomi Syariah di Indonesia. 2(4).
Rahmi, N., & Rizali, M. (2025). Implementation and Challenges of Musyarakah Contracts in Sharia Financing in Indonesia : Analysis of Regulations , Practices , and Optimization Strategies. 3(3), 85–101.
Rizki, M. (2021). Pengaruh pembiayaan murabahah terhadap perkembangan usaha mikro kecil menengah (umkm) pada baitul mal wat- tamwil (bmt). 1(3).
Saleem, Z., & Saleem, Z. (2022). Kardan Journal of Social Sciences and Humanities ( KJSSH ) Incorporating Sukuk Provisions into the Law on Domestic and Foreign Private Investment in Afghanistan Incorporating Sukuk Provisions into the Law on Domestic and Foreign Private Investment in Afghanistan. 8707(December).
Setiawan, I., & Justa, A. (2024). Analisis Kesesuaian Praktek Pembiayaan Musyarakah KSPPS BMT Al-FATH Menurut Fatwa No . 08 / DSN-MUI / IV / 2000 Berbicara tentang Praktik Pembiayaan Musyarakah di Indonesia Berdasarkan Laporan Perkembangan Perbankan Syariah yang dirilis pada tahun 2021 oleh OJK . Bahwa pembiayaan Musyarakah masih juga akad Murabahah sebesar 9 , 39 %. Tentu ada penyebab mengapa kemudian. 2(2), 37–55.
Smolo, E., & Mirakhor, A. (2021). The global financial crisis and its implications for the Islamic financial industry. International Journal of Islamic and Middle Eastern Finance and Management, 3(4), 372–385. https://doi.org/10.1108/17538391011093306
Solehudin, E., Huda, M., Ahyani, H., Ahmad, M. Y., Khafidz, H. A., Rahman, E. T., & Hidayat, M. S. (2024). Transformation of Shariah Economic Justice: Ethical and Utility Perspectives in the framework of Maqashid Shariah. Al-Risalah: Forum Kajian Hukum Dan Sosial Kemasyarakatan, 24(1), 101–115. https://doi.org/10.30631/alrisalah.v24i1.1467
Sollehudin, M., & Shuib, B. (2024). SHARIA GOVERNANCE IN ISLAMIC FINANCIAL INSTITUTIONS : A COMPARATIVE REVIEW OF MALAYSIA AND INDONESIA. 12(1), 89–107.
Suaidi, S., Mun’im, Z., Astuti, S. D., Riyadi, I., Khabibah, S., & Huda, N. (2025). Harmonisation Between DSN-MUI Fatwas and OJK Regulations: Towards an Innovative and Inclusive Sharia-Compliant Fintech Ecosystem in Indonesia. Mazahib. https://doi.org/10.21093/mj.v24i1.10032
Tahir, T., Hasan, S., & Hamid, A. (2024). Maqasid Al-Syari ’ ah Transformation Implementation for Humanity in. 26(1), 119–131.
Tello-Gamarra, J., Campos-Teixeira, D., Longaray, A. A., Reis, J., & Hernani-Merino, M. (2022). Fintechs and Institutions: A Systematic Literature Review and Future Research Agenda. Journal of Theoretical and Applied Electronic Commerce Research, 17(2), 722–750. https://doi.org/10.3390/jtaer17020038
Thomas, G. N. (2024). The Impact of Financial Literacy , Social Capital , and Financial Technology on Financial Inclusion of Indonesian Students. 3(4), 308–315. https://doi.org/10.56472/25835238/IRJEMS-V3I4P140
Vahlevi, D. R. L. (2025). Strategy Of Implementing Sharia Contracts In Facing The Challenges Of Umkm Financing In The Digital Era. 47–59.
Wasian, A., Haiyi, N. A., Maulana, U., Farid, M., Yoga, M., Adwitya, N., Satrio, W. A., & Arifianto, R. (2025). Analisis Implementasi Musyarakah bagi UMKM pada Era Ekonomi Digital : Peluang , Tantangan Regulasi , dan Strategi Penguatan. 2.
Yustiardhi, A. F., Diniyya, A. A., Amirah, F., Faiz, A., Subri, N. S., & Kurnia, Z. N. (2020). Issues and Challenges of the Application of Mudarabah and Musharakah in Islamic Bank Financing Products. 9(2), 26–41.
