Integrating Theory and Practice: Analyzing Murabahah Sharia Financing Contracts for Aceh’s Village-Owned Enterprises

Abstrak

The effective application and development of Sharia financing contracts necessitate a harmonious integration of theoretical and practical elements. This article examines the Sharia financing contract model for village-owned enterprises, known as Badan Usaha Milik Desa/Badan Usaha Milik Gampong (BUM Desa), in Aceh Province, Indonesia. Utilizing doctrinal legal research, the study employs legislative, comparative, and conceptual approaches, supplemented by empirical data gathered from interviews with relevant stakeholders. The findings indicate that a significant number of BUM Desa utilize murabahah contracts, while a smaller proportion engage in qard contracts and conventional lending options. Notably, some murabahah contracts incorporate wakalah components. Most Sharia contracts are formalized as written agreements, typically in the form of private deeds, although a few remain unwritten. To better serve the micro and small-scale nature of BUM Desa/BUMG in Aceh, it is recommended that Transactional Clauses and Standard Legal Clauses be included. Each clause should be documented in separate Sharia agreements to enhance practicality and cost-effectiveness. This approach aims to increase public benefit, improve quality of life, and ensure legal certainty and justice. Ultimately, this article provides valuable insights into the quality of contracts (aqad) for Sharia compliance, striving to maximize community benefits.