SHARIAH PARADOX OF “NONHALAL” REVENUE MANAGEMENT ON SHARIAH-BASED COOPERATIVE

Zuljihat Jaelani, Titiek Herwanti, Hermanto Hermanto

Abstract


The implementation of shariah financial management is a logical consequence due to the transformation of conventional cooperative into shariah cooperative. Not only does the consequence impact the use of margin term on some contracts of murabahah instead of interest, or the approach of profit-sharing on mudarabah, but also it has briefly led into a paradox where there are “nonhalal” revenues from usury practices of some businesses conducted by shariahbased cooperative. Moreover, the lack of awareness and minimum support from local government was another paradox faced by the cooperative and strictly damned the implementation of shariah. This study aims to explore the shariah paradox of non halal revenues management in Koperasi Tani Syariah Bina Usaha, a cooperative with the highest sum of financial turnover in Central Lombok West Nusa Tenggara. This research uses qualitative method with interpretive paradigm. Phenomenologically, the research has found shariah deviaton of some revenues earned by Koperasi Tani Syariah Bina Usaha. The deviation was claimed as nonhalal revenues that entirely raising from saving and loan unit as well as investment unit. Furthermore, both of these business units have almost covered the financial needs for every single business conducted by Koperasi Tani Syariah Bina Usaha. There is more than 3 billion rupiah of investment, from customer deposits, was not managed within the framework of Shariah. Another 2 billion rupiah from other sourches, which contracted on margin term, was still debatable. This research is expected to give a portrait of problem faced by Shariah-based cooperatives for both intern and extern stakeholders then ongoing coaching and better coordinating could be conducted in optimizing the pure implementation of shariah, especially in Koperasi Tani Syariah Bina Usaha.

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