Mini Research

ISLAMIC ECONOMY OF THE SHARIA BUSINESS LAW

Supporting Lecturer : Mahya Humaira M.Pd

Arranged by :

Nama: NIM:

Aditya Harry Prananda 0204182115

Gina Juwita Jafba 0204182067

Taufik Agusman Damanik 0204182050

Riyani Rizky 0204182118

CLASS : MUAMALAH 1-C

Sharia Faculty and Law

Islamic University of North Sumatra
ISLAMIC ECONOMY OF THE SHARIA BUSINESS LAW

Title: Islamic Economy, Sharia Business Law

Author: Drs. Nurul Hak, MA

Editor: Zubaedi

Publisher: Terrace

Sunrise City: Yogyakarta

Year of publication: 2011

Printing: First print, 2011

Pages: viii + 228

ISBN: 978-406-978-325-3

This Islamic Economics Book Sharia Business Law is not the first book written by Drs. Nurul Hak, MA,
previously the syari'ah department lecturer at STAIN Bengkulu has also published a book entitled
Cash Endowments in the Islamic Economic Perspective. Seeing his progress as the leader of the
MIZANI STAIN Bengkulu Scientific Journal Editorial, it can certainly be concluded that the writing
world has become a life partner for a Nurul Hak.

Actually this book is the result of a combination of the author's master's thesis at the University of
Muhammadiyah Jakarta (UMJ) in 2007 with the results of self-research funded by the 2008 DIPA
STAIN Bengkulu fund. This extraordinary work can be said to be quite complete because it consists of
6 parts each the section outlines the subjects themselves. Although it is divided into 6 parts, it is
interrelated and complementary to each other.

Overall this book captures the economy of Islam, Islamic banks, interest in money and profit sharing,
money waqf and sharia economic disputes. Everything is still in the realm of Islamic economics. In
essence, Islamic economics can be interpreted as a system and can also be regarded as a scientific
discipline, both of which can be used as alternatives as well as solutions to all existing economic
problems. As we have seen before, Islamic economics is trying to be grounded in the midst of a
conventional economy that tends to be capitalist. Even though in the view of Islam, welfare and
distribution of income must be evenly based on the principle of justice.

The interesting thing in this book is the expertise of the author in favoring waqf money as one of the
Islamic economic instruments. Explicitly can be drawn by the author that money waqf can be a
solution to various problems of economic poverty, one of which is by giving the role of Islamic banks
to seek endowments. It can be illustrated if everyone understands cash waqf and implements it,
then various access to facilities and infrastructure in improving community welfare can be carried
out easily, such as free tuition fees and free transportation facilities. All of that thanks to funds from
the waqf of money managed wisely. Maybe not?
However, this seems difficult to implement, because the community mindset about waqf is only
limited to immovable objects, such as land and buildings. Even though in Law No. 41 of 2004 has
explained that the scope of waqf is not only on immovable objects, but also includes movable waqf
objects, both tangible and intangible, such as money, precious metals, leasing rights, transportation
and other movable objects. But it seems that already already embedded in the mindset of the
community that waqf can only be done by those who are rich, but not necessarily so, with
endowments of money, however much it will be easier for anyone to be able to participate. For this
reason, it may be necessary to do a persuasive approach through socialization to the community by
providing a deep understanding of money waqf.

In reality, although the development of sharia instruments is quite significant, unfortunately there is
no legal support for resolving sharia economic disputes. In various laws and regulations that have to
do with Islamic economics there are no specific rules governing formal law and material law
regarding sharia economics. the legal arrangements that have been used so far are provisions
contained in the books of fiqh and a small part of DSN fatwas and in Indonesian bank regulations.
This certainly becomes a balance between the means and supporters of Islamic economics.

In another section, the author also discusses various views on usury and bank interest. The issue of
usury in Islam is final in its prohibition, but the issue of interest is something that has never been
finished to be discussed. The author presents 3 views, namely pragmatic, conservative and socio-
economic views. In this case, it seems the author is less able to direct the reader's understanding of
what views are adopted by Indonesia as a country which is predominantly Muslim.

This is indirectly a drawback to this book. The theories in it are not equipped with a description of
the real practice. So that readers who have not yet known about the Islamic economy will be less
able to capture the material because they are not fully aware and see the economic facts that exist
today.

Writing systematics did not escape sharp criticism. It turns out that there are many words that
cannot be read because there is a typo, not just one or two words, but it looks quite a lot, this might
be caused by human error. In addition, some words are not in accordance with the rules of writing
EYD, sometimes the author still uses non-standard words.

So far, coming up with an easy-to-understand language style seems to make this book the right
initial guidebook to be used to facilitate readers who want to learn about Islamic economics. With
the existence of 64 reading sources, of course, it will make more value for this book. Readers will be
opened their eyes and made aware of the treasury of Islamic economic knowledge that is more
profound with only a 1.5 cm thick book.