Tinjauan Hukum Islam Terhadap Akad Simpan Pinjam

Abstract

This study investigates the savings and loan practices of the Employee Cooperative of the Jakarta Capital Region (DKI Jakarta) Fire Department Sub-Agency, which operates under a conventional financial system incorporating elements of riba (usury). From the perspective of Islamic jurisprudence, riba is strictly prohibited, making this issue particularly relevant given that the majority of cooperative members are Muslims. This research employs a qualitative field-based approach, with data collected through direct observation, semi-structured interviews with cooperative management, and analysis of official cooperative documents and financial records. Supporting data were obtained through a review of relevant literature on Islamic finance and cooperative systems. Data analysis was conducted using a descriptive qualitative method, focusing on the systematic organization and interpretation of empirical findings. The results indicate that the cooperative’s savings and loan transactions involve predetermined interest charges and additional mandatory fees stipulated at the inception of the contract. These practices fall under the category of riba and are therefore inconsistent with Sharia-compliant financial principles. The study concludes that the current operational model of the cooperative does not meet the requirements of a Sharia-based cooperative and underscores the need for structural and contractual reforms to ensure compliance with Islamic law.