Universitas Islam Negeri Walisongo Semarang - Indonesia
Analysis of interest theory and profit-sharing in the Islamic financial system
This article examines the comparison between interest theory in conventional financial systems and profit-sharing theory in Islamic financial systems by integrating religious and economic perspectives. The purpose of this study is to gain a more comprehensive understanding of the practical and ethical implications of both financial systems and how they can be applied to support fair and sustainable economic development. The methodology used is a literature review with in-depth content analysis related to the concepts of interest and profit-sharing from various religious perspectives, including Islam, Christianity, and Judaism. The results show that interest theory dominates conventional financial systems with its various applications, while profit-sharing theory in Islamic financial systems offers a fairer and more efficient alternative with profit and loss distribution based on the actual contributions of each party. This study provides significant insights into understanding the fundamental differences between interest and profit-sharing and offers recommendations for creating a more inclusive and sustainable financial system. However, this research has limitations in terms of empirical analysis and variations in the implementation of the profit-sharing system that need to be further explored in future studies.
Keywords: interest theory; profit-sharing; conventional finance; Islamic finance; religious perspective.
- Al-‘Umrānī, A. M. (2010). al-Manfa‘ah fi al-Qarḍ: Dirāsah Ta’ṣīliyyah Taṭbīqiyyah. Riyadh. Dār Kunūz Ishbīliyā li al-Nashr wa al-Tauzī‘
- Anto. H. (2003). Pengantar Ekonomi Mikro Islami. Yogyakarta: Penerbit Ekonosia
- Antonio, M. S. (2001). Bank Syariah: Dari Teori ke Praktik. Jakarta: Penerbit Gema Insani.
- Antonio, M. S. (1999). Bank Syariah: Suatu Pengenalan Umum. Jakarta: Tazkia Institut.
- Arifin, Z. (2000). Bank Syariah: Lingkup, Peluang, Tantangan dan Prospek. Jakarta, Alvabeta.
- Bradley, A. (2023). Human Interest: Usury from Luther to Bentham. Theory, Culture and Society, 1–15. https://doi.org/10.1177/02632764231203559
- Chapra, M. U. (2000). Sistem Moneter Islam. Jakarta: Gema Insani Press.
- Gait, A. H. & Worthington, A. C. (2006). An Empirical Survey of Individual Consumer, Business Firm and Financial Institution Attitudes towards Islamic Methods of Finance. International Journal of Social Economics, 35 (11), 783-808. http://dx.doi.org/10.1108/03068290810905423
- Ghafur, A. (2018). Al-Riba (Bunga) dalam Perspektif Sejarah & Agama. Iqtishodiyah: Jurnal Ekonomi dan Bisnis Islam, 4(2). https://ejournal.unzah.ac.id/index.php/iqtishodiyah/article/view/80
- Ghazaly, A. R. (2010). Fiqh Muamalat. Jakarta: Kencana.
- Hak, N. (2011). Ekonomi Islam Hukum Bisnis Syariah. Yogyakarta: Sukses Offset.
- Harahap, B., & Risfandy, T. (2022). Islamic Organization and the Perception of riba (Usury) and Conventional Banks Among Muslims: Evidence From Indonesia. SAGE Open, 12(2). https://doi.org/10.1177/21582440221097931
- Haroen, N. (2000). Fiqh Muamalah. Jakarta: Gaya Media Pratama.
- Haryono. (2018). Moratorium (Inzhar Ad-Dain) dalam Tinjauan Hukum Islam. Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam, 2(1), 73-92. https://doi.org/10.30868/ad.v2i01.239
- Haryono. (2019). Dinamika dan Solusi Pengembangan Multi Akad (Hybrid Contract) Sebagai Basis Produk Perbankan Syariah. Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam, 3(1), 17-36. https://doi.org/10.30868/ad.v3i01.498
- Hasan, N. I. (2014). Pengantar Perbankan Syariah. Ciputat: Referensi (GP Press Group)
- Haymon, S. (1958). Neither a Borrower nor a Lender. Library Review, 16(7), 455–458. https://doi.org/10.1108/eb012290
- Heriyansyah. (2018). Perjalanan Bisnis Nabi Muhammad S.A.W. Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam, 2(2), 190–205. https://doi.org/10.30868/ad.v2i02.356
- Hidayatullah, M. S. (2021). Analisis Kritis Eksistensi Bunga Bank sebagai Riba Keuangan Kontemporer. Asy Syar'iyyah: Jurnal Ilmu Syari'ah dan Perbankan Islam, 6(2), 161-201. https://doi.org/10.32923/asy.v6i2.1928
- Ilyas, M. (2014). Konsep Bagi Hasil dalam Perbankan Syariah. Muamalah, 4(2), 99-105.
- Ipandang, A. A. (2020). Konsep riba dalam fiqih dan al-qur’an: Studi komparasi. Ekspose: Jurnal Penelitian Hukum Dan …, 19(2), 1080–1090.
- Kasdi, A. (2016). Analisis Bunga Bank dalam Pandangan Fiqih. Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam, 6(2), 319-342. http://dx.doi.org/10.21043/iqtishadia.v6i2.1111
- Kasmir. (1999). Bank dan Lembaga Lainnya. Jakarta: PT. Raja Grafindo Persada.
- Kurniawansyah, D. (2016). Pengaruh Profit Loss Sharing Funding Ratio dan Profit Loss Sharing Financing Ratio Terhadap Profitabilitas Bank Umum Syari’ah di Indonesia dengan Efisiensi dan Risiko Sebagai Variabel Intervening. Jurnal Akuntansi dan Keuangan, 18(1), 44-58. https://doi.org/10.9744/jak.18.1.44-58
- Ma'ruf, S., & Cahyoningtyas, R. A. (2023). Konsep Bagi Hasil (Profit Sharing) dalam Perspektif Syariah. Jurnal Ekonomi Syariah, 1(2), 23-41.
- Muhammad. (2003). Bank Syariah: Analisis Kekuatan, Peluang, Kelemahan dan Ancaman. Yogyakrta: Ekonisia
- Muhammad. (2005). Manajemen Bank Syariah. Yogyakarta: UPP STIM. YKPN
- Muhammad. (2012). Teknik Perhitungan Bagi Hasil dan Pricing di Bank Syariah. Yogyakarta: UII Press.
- Muslehuddin, M. (1990). Sistem Perbankan dalam Islam. Jakarta : Rineka Cipta
- Noor, I. (2024). Analisis Perkembangan Pemikiran Ekonomi Klasik : Dari Merkantilisme. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 9(1), 537–547.
- Olechnowicz, C. A. (2011). History of Usury: The Transition of Usury Through Ancient Greece, The Rise of Christianity and Islam, And the Expansion of Long-Distance Trade and Capitalism. Gettysburg Economic Review, 5(2011), 7.
- Oleiwi, H. Z. (2020). Relationship Between Bank Deposits and Profitability of Commercial Banks (Practical Example of Jordan Commercial Bank). International Journal of Innovation, Creativity and Change, 13(7), 226–234. https://doi.org/10.2991/aebmr.k.201215.010
- Rahim, A. (2020). Konsep Bunga dan Prinsip Ekonomi Islam dalam Perbankan Syariah. Al-Iqtishad: Jurnal Ekonomi, 12(2), 185-200. http://dx.doi.org/10.30863/aliqtishad.v12i2.1756
- Retnowati, M. S., Faruqi, M. Al, & Ihsan, S. (2023). The Sources of Islamic Law on the Muamalah Concept About Contract Viewed on Philosophical Studies. Al-Iktisab: Journal of Islamic Economic Law, 7(1), 75–94. https://doi.org/10.21111/aliktisab.v7i1.9961
- Saeed, A. (1996). Islamic Banking and Interest: A Study of the Prohibition of Riba and Its Contemporary Interpretation. Leiden: Brill Academic Publishers.
- Sanusi, B. (2004). Pengantar Ekonomi Pembangunan. Jakarta: Rineka Cipta.
- Shahar, W. S. S., Mohamad Zan, U. M. S., & Wan Hassin, W. S. (2016). The implication of usury (riba) in economic: a critique. 3rd International Conference on Management & Muamalah 2016 (3rd ICoMM), 3rd(October), 332–341.
- Sudarsono, H. (2003). Bank dan Lembaga Keuangan Syariah: Deskripsi dan Ilustrasi. Yogyakarta: Ekonisia.
- Suretno, S. (2018). Jual Beli dalam Perspektif Al-Qur’an. Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam, 2(1), 93-109. https://doi.org/10.30868/ad.v2i01.240
- Suretno, S. (2019). Instrumen Bunga dan Bagi Hasil dalam Dunia Perbankan. . Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam, 3(2), 161-176. https://doi.org/10.30868/ad.v3i2.555Yahya, M., & Agunggunanto, E. Y. (2012). Teori Bagi Hasil (Profit and Loss Sharing) Dan Perbbankan Syariah Dalam Ekonomi Syariah. Jurnal Dinamika Ekonomi Pembangunan, 1(1), 65. https://doi.org/10.14710/jdep.1.1.65-73
- Syafei, R. (2001). Fiqh Muamalah. Bandung: Pustaka Setia.
- Syakirin, M., Rahmawati, L., Rachman, M. A., Riyanto, R., Supriyatna, R. K., & Hadi, S. (2023). Dampak Profit and Loss Sharing terhadap Biaya Produksi dan Pendapatan. Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah, 5(4), 2439-2450. https://doi.org/10.47467/alkharaj.v5i4.2604Yuliana, N., Harun, M., & Hidayat, F. (2018). Analisis Pemikiran Muhammad Syafi’I Antonio Tentang Riba Dan Bunga Bank. Muamalah, 4, 130–141.
- Tarmizi, E. (2016). Harta Haram Muamalat Kontemporer. Bogor: Berkat Mulia Insani.
- Yahya, M., & Agunggunanto, E. Y. (2011). Teori Bagi Hasil (Profit and Loss Sharing) dan Perbankan Syariah dalam Ekonomi Syariah. Jurnal Dinamika Ekonomi Pembangunan, 1(1), 65-73.
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.