FINANCIAL REENGINEERING FORWARD TRANSACTIONS INTO ISLAMIC FORWARD TO INCRASE THE ROLE OF ISLAMIC BANKING IN INDONESIA IN THE GLOBAL MARKET
- Perbanas Institute, Jakarta, Indonesia
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Purpose of this study was to assess whether the transaction Forward Foreign Exchange trading, actually haram or halal? How to requirements of forward transactions in Islamic banking can be done lawfully. Type of research is descriptive qualitative, the object is the MUI Fatwa - DSN No: 28 / DSN-MUI / III / 2002 on Sale Buy Currency (Al-Sharf) and 37 DSN / DSN-MUI / X / 2002 on the Interbank Money Market Sharia. The method used was direct observation Islamic Bank Treasury Division. Forward transactions in Islamic banks can be made therein without ghoror contain elements with certain requirements. Islamic Forward can only be done if the 3 basic requirements are met in the transaction ie firstly the underlying transcation, both the existence of the foreign exchange market, the availability of third interbank money market, both domestic and international sharia. In addition, the practice of the forward exchange rate is not allowed to take a point forward or swap points of the forex market.
[Selamet Riyadi (2015); FINANCIAL REENGINEERING FORWARD TRANSACTIONS INTO ISLAMIC FORWARD TO INCRASE THE ROLE OF ISLAMIC BANKING IN INDONESIA IN THE GLOBAL MARKET Int. J. of Adv. Res. 3 (Dec). 1070-1076] (ISSN 2320-5407). www.journalijar.com
