A Normative Juridical Analysis of Ta'widh and Gharamah in Islamic Financial Transactions: A Sharia Economic Law Perspective Based on DSN-MUI Fatwa No. 43/DSN-MUI/2004
DOI:
https://doi.org/10.21111/al-iktisab.v10i2.10Keywords:
Ta'widh , Gharamah, Islamic Financial Transactions , Sharia economic law , DSN-MUI fatwaAbstract
This article analyzes the normative juridical framework governing the implementation of ta’widh (compensation) and gharamah (penalty fines) in Islamic financial transactions in Indonesia, with particular attention to the legal and Sharia foundations established under DSN-MUI Fatwa No. 43/DSN-MUI/VIII/2004. The main research problem concerns the tension between the classical Islamic prohibition of riba and the contemporary need for effective financial discipline mechanisms in Islamic banking, especially when debtors fail to fulfill contractual obligations due to negligence or intentional default. This study aims to examine the legal basis, conceptual distinction, regulatory structure, and practical application of ta’widh and gharamah within the Indonesian Islamic financial system, while identifying the risks, limitations, and implementation challenges arising from their use. The research employs a normative juridical method through doctrinal legal analysis, supported by library research using primary legal materials, including the Qur’an, Sunnah, DSN-MUI fatwas, Bank Indonesia regulations, and Financial Services Authority provisions, as well as secondary and tertiary legal sources relevant to Islamic economic law. The results show that ta’widh is permissible under Sharia principles only when it is limited to actual, direct, and documentable losses caused by debtor misconduct, thereby functioning as compensation rather than an additional profit for the creditor. In contrast, gharamah serves as a disciplinary penalty intended to deter deliberate payment delays, but its proceeds must be allocated to social or charitable purposes and must not become income for Islamic financial institutions. The study further finds that unclear calculation standards, weak documentation of losses, and insufficient governance of penalty funds may create risks of Sharia non-compliance. Therefore, stronger regulatory harmonization, transparent reporting, and clearer supervisory mechanisms are required to ensure legal certainty, institutional accountability, and consistency with the objectives of Islamic economic law.
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