Legal Reqiurements for the hybrid contract in financing financial syariah institutions in Indonesia
Ima Ridhoatu Shofa, Burhanudin Harahap, Hari Purwadi
Multi-contract is a concept that exists in Islamic law to combine agreements with one another. Riba (an addition obtained illegally) which is clearly prohibited in Islamic law, on the other hand, human needs are increasingly complex. Financing in Islamic financial institutions requires a combination of contracts. This study aims to seek clarity on the legal requirements for multi-contractual financing in Islamic financial institutions in Indonesia. This type of research is normative with a conceptual approach supported by primary and secondary legal materials. The validity of the contract in Islamic law can be seen in terms of wad'i law, namely the fulfillment of the terms and conditions of the contract. Multi contracts must be in accordance with sharia principles, namely avoiding maysir (gambling), gharar (uncertainty), and riba (usury). The provisions of the contract in positive law in Indonesia are that the contract is not prohibited and does not contradict the law, and does not conflict with public order. The legal requirement for multi-contract is not in a place prohibited by sharia texts, not between contracts which have conflicting legal consequences, do not result in haram, and not as a form of hillah (engineering) riba.