RISK CONTROL OF CONTINGENCY TRANSACTION IN PROFIT SHARING SYSTEM
Abstract
This study is descriptive and theoretical to anticipate the occurrence of losses arising from the contingency conditions in the services of sharia banks that implement the system for the results.The accounting treatment according to Ariani (2012) in the implementation of the principle of profit sharing in mudharabah and musyarakah financing is not fully in accordance with the principles of Islamic sharia.The compliance of mudharabah financing according to Alfie and Khanifah (2007) on the Statement of Financial Accounting Standard (SFAS) No.59 concerning Islamic banking financial accounting of the science of FiqhSyafi'iyah is in accordance with sharia in terms of science FiqhSyafi'iyah sourced from al-Qur ' And Hadist of Prophet Muhammad SAW, but there are not yet according to Shari'ah in terms of science FiqhSyafi'iyah, because SAK is made for businesses that are full profit oriented while sharia principles are oriented to profit and mutual interest.Another thing that arises is the risk of uncertainty in the form of contingencies.Contingent transactions have not affected the position in the company's balance sheet and profit and loss.Contingencies under PSAK No.31 must be presented in such a way that when associated with assets and liabilities items can adequately represent the bank's financial position.Contingency is a transaction that has not changed the position of the bank's assets and liabilities at the report date, but the must be executed by the bank if the terms agreed with the customer are met.The contingent impacts may be claims or liabilities in both Rupiah and Foreign Currency.For that reason, banks need to make capital reserves derived from income, profit, general analysis of funding, and reserves of special purpose to anticipate contingent conditions that occur, and be borne by the bank concerned
Keywords: Contingency, Risk Control, Profit Sharing System
References
Adiwarman A. Karim.2004. Islamic Bank Fiqh and Financial Analysis .PT. King GrafindoPersada.cet. 3, p. 260-271. Jakarta
Ahmad Selamet and Hoscaro.2008.Islamic Banking Risk Management,<http://shariaeconomy.blogspot.com/2008/11/manajemen_risiko_bank_syariah.html> Accessed on November 1, 2008.
Ahmad Selamet and Hoscaro.2008.Islamic Banking Risk Management ,http://shariaeconomy.blogspot.com/2008/11/manajemen_risiko_bank_syariah.html . Retrieved on November 1, 2008
Alfie, Khanifah. 2007. Analysis of Compliance MudharabahIn the Statement of Financial Accounting Standards (SFAS 59) Against FiqhShafi'itesSyariahIlmu aspect. Journal of Economics and Business.Vol 2 3
Ariani, Rina. 2012. Treatment of Accounting and Compliance Sharia On Mudharabah And Musharaka In. Bank Muamalat Indonesia Tbk.Journal of Accounting Department, Faculty of Economics, University Gunadarma, 2012.
AsepWahyu Ari Ali Hasan Nugroho.2008.Risk Management , 2008, <http://hendrakholid.net/blog/manajemen_ risiko.html> Accessed on December 10.
Dhumale and Sapcanin. 2000. An Application of Islamic Banking to Microfinance. UNDP and World Bank Technical Note.
N. Ferry Idroes.2008. Banking Risk Management: Understanding the 3 Pillar Approach of Basel II Agreement Related Application and Implementation Regulations in Indonesia , (Jakarta: PT RajaGrafindoPersada, 2008), p. 23-25
Hariyati, Tri Retno. 2011. Theory of Recognition and Measurement of Islamic Accounting General Accounting Versus. Negeri Ambon Polytechnic Journal, 2011.
RahmaniTimorita Yulianti.2009.Islamic Banking Risk Management 2009, <http://master.islamic.uii.ac.id/index.php?option=com_content&task=view&id=45&Itemid = 57>. Accessed On 30 April 2009 .
Robert Tampubolon.2006.Manajemen Risk: Qualitative Approach to Commercial Bank, Jakarta: PT Elex Media Komputindo.cet. 3, p. 105-108
Rosly, SA 2008.Critical Issues on Islamic Banking and Financial Market, Islamic Economics, Banking and Finance, Investmens, Takaful and Financial Planning. Dinamas Publishing, Kuala Lumpur, Malaysia.
Susana, E and Prasetyanti, A.2011.Pelaksanaan and Sharing System Financing Al-Mudharabah In Islamic Banking ", Journal of Banking and Finance, Vol.15, No.3 September 2011, 466-478.
