Elemen al-Hilah dalam Aplikasi Akad Tawarruq di Bursa Suq al-Sila’

Abstract

Islamic banking in Malaysia uses various contracts as the basis for Islamic financial products. Among them is the tawarruq contract, which introduced to replace the bay’ al-‘inah contract. Tawarruq is the most widely used contract by Islamic financial institutions in Malaysia today due to its flexibility, making it suitable for various financial products, including financing, deposits, and liquidity management. However, the legality of the tawarruq contract is debated among both classical and contemporary scholars, as it is believed to contain elements of al-hilah (legal stratagems). This study focuses on analyzing the elements of al-hilah and their status according to contemporary scholars in financial products such as personal financing based on the tawarruq contract offered through the Bursa Suq al-Sila’ (BSAS) platform. Data were obtained through a literature review and field studies, including in-depth interviews. The data were analyzed using methods derived from the disciplines of usul al-fiqh (principles of Islamic jurisprudence) and maqasid al-shari‘ah (objectives of Islamic law), as the discussion involves evaluating matters according to Islamic law. The findings indicate that there are no elements of al-hilah al-ribawiyyah (usurious stratagems) in the financial products studied. The tawarruq contract can be categorized as al-hilah al-mashru‘ah (permissible stratagem) or al-makhraj (legal exit), in line with maqasid al-shari‘ah. Therefore, personal financing based on the tawarruq contract, along with other financial products, is permissible. However, further studies are needed, as concentration risk may arise if this contract is used too extensively.