Name : Muhammad Fadlil Kirom

NIM : 17102066

Class : AI B 17 IP

1. Sharia Securities Repo

In this example the buyer classifies the sharia securities in the sharia securities repo
transaction between the first buying and selling period of the second as measured at
fair value through other comprehensive income and measured at the value of through
profit or loss. The purchaser can classify the sharia securities as ' measured at the cost
of acquisition if the sharia securities is due to the second buying time.

Erik has a sukuk with the amount recorded Rp100 (nominal value Rp100). Then Erik
and Abdul perform the repo transactions on the sukuk with the following agreement:
 Erik sell sukuk to Abdul for costs Rp98 on April 1, 2017.
 Erik promises to buy the sukuk from Abdul, and Erik promises to sell the
sukuk to Abdul, priced at Rp100 on May 15, 2017.
 Abdul sold Sukuk to Erik for Rp100 on 15 May 2017.

Abdul classify sukuk as ' measured at fair value through other comprehensive income
' during the tenure period between April 1 to May 15, 2017. The fair value of Sukuk
on April 1, April 30, and May 15, 2017 respectively Rp101, Rp103, and Rp 105. Erik
sukuk coupon of Rp1 was received on 30 April 2017. Due to sukuk on 31 December
2019.

As can be seen in the example transaction above, there is an element of wa'd in sharia
securities repo transactions. Waad happened when Erik promised to buy sukuk from
Abdul, and Erik also promised to sell the sukuk to Abdul.
2. Sharia Hedging

On 1 March 2017, PT Surakarta received an import bill of USD 1 million to be paid

on April 10, 2017. PT Surakarta then made a deal exchange foreign currency (forex)
with Mandiri Syariah.
On that date, PT Surakarta and Mandiri Syariah made a currency exchange
agreement, which PT Surakarta handed over USD1 million to the Mandiri Syariah
and received Rp13,3 billion from Mandiri Syariah. PT Surakarta promises to handed
RP14 billion, and Mandiri Syariah promises to handed USD1 million, on 10 April
2017.
US dollar spot rate against the rupiah on 1 March, 31 March, and 10 April
respectively Rp 13.300, Rp 13.400, and Rp 13.500.
On April 10, 2017 PT Surakarta and Mandiri Syariah made exchange rates and both
performed the contract.

Wa'ad in the above transaction occurred on April 10, 2017, namely when PT
Surakarta promised to deliver Rp 14 billion, and Mandiri Syariah promised to give up
USD 1 million.

3. Ijarah Muntahiyah Bittamlik (IMBT)

Suppose there is someone who want to sell the house in the price of Rp. 100,000,000.
and Andi who wants to buy the house by asking for the help of BNI Syariah provide
financing, then BNI Syariah can offer to Andi to cooperate with the contract IMBT.
Then the first contract to be done is where BNI Syariah must buy a house to the home
seller with the price of Rp. 100 million; And will continue with the second contract
agreement where BNI Syariah rents his house to Andi. It is known that if Andi has
paid off his debt, the house rights will move to Andi.
Suppose the agreed rental fee is Rp. 1.000.000; Per month for 10 years (120 months),
Andi will spend up to 10 years of rent is Rp. 1.000.000; Times with 120 months, is
Rp. 120.000.000. At the end of the lease term, BNI Syariah sells its own house to
Andi with a price of Rp. 10.000.000. Therefore, the ownership of the house has
moved to Andi at the time of the last agreement contract, it is after 10 years.

In IMBT transactions, Wa'ad is seen in the promise of transfer of ownership agreed at

the beginning of the Ijarah contract. If the promise is to be performed, then there must
be a transfer of ownership that is done after the completion of Ijarah.
 REFERENCES

Indonesia, I. A. (2019). Standar Akuntansi Keuangan Syariah. Jakarta: IKATAN AKUNTAN INDONESIA.

Putra, P. A. (2018). Jurnal Ekonomi dan Keuangan Syariah Vol.2. KONSEP WA’AD DAN
IMPLEMENTASINYA DALAM FATWA DEWAN SYARIAH, 222-237.