Analysis Of Accounting Treatment Of Islamic Credit Card In The Islamic Perspective
ＡＱｃﾣｊＴＯＶｾ＠
Analysis of Accounting Treatment of Islamic Credit Card in the
Islamic Perspective
(Case Study in Bank Danamon Syariah)
SKRIP SI
Submitted by :
Savirul Afifi
Student ID: 604082000024
0;10;
ｩＧｾ｜＠
J:irl
INTERNATIONAL CLASS PROGRAM
DEPARTMENT OF ACCOUNTING
FACULTY OF ECONOMICS AND SOCIAL SCIENCES
STATE ISLAMIC UNIVERSITY SYARIF HIDAYATULLAH
JAKARTA
1429 HI 2009 M
(Case Study in Bank Danamon Syarialn)
SKRIPSI
Submitted to Faculty of Economy and Social Sciences
As Partial Requirement for Acquiring Bachelor Degree of Economy
Submitted by:
Savirul Afifi
Student ID: 604082000024
Under Guidance of
Academic Advisor I
Academir. Advisor II
Prof. Dr. Abdul Hamid, MS
Ade Wirman Syafoi, SE., MSc
INTERNATIONAL CLASS
ｐｒｑＬｇａｾＮＱ＠
DEPARTMENT OF ACCOUNTING
FACULTY OF ECONOMICS AND SOCIAL SCIENCES
STATE ISLAMIC UNIVERSITY SYARIF HIDAYATULLAH
JAKARTA
1429 HI 2009 M
Today, we administered a comprehensive test examination to Savirul Afifi ID
604082000024. The title of his thesis is: "Analysis of Acconnting Treatment of
Islamic Credit Card in the Islamic Perspective (Case Study iu Bank Danamon
Syariah)". After proper examination of the work student, we have decided that he
has met all of the requirements for the title of Bachelor of Economics on the field of
Accounting, State Islamic University (Universitas Islam Neg'3ri) Syarif Hidayatullah
Jakarta.
Jakarta, August
1st
2008
Comprehensive Examination Team
Drs. Abdu Hamid Cebba, Ak, MBA
Head of Accounting Department
Prof. Dr. Abdul Hamid, MS.
Dean of Faculty of Economics
and Social Sciences
ii
Analysis of Accounting Treatment of Islamic Credit Card in the Islamic Perspective
(Case Study in Bank Danamon Syariah)
SiffiIPSI
Submitted to Faculty of Economy and Social Sciences
As Partial Requikment for Acquiring Bachelor Degree of Economy
Submitted by:
Savirul Afifi
Student ID: 604082000024
Under Guidance of
Academic Advisor I
Academic Advisor II
Prof. Dr. Abdul Hamid, MS
Ade Wirma.> Syafei, SE., MSc
Professional Examiner
id Cebba Ak MBA
INTERNATIONAL CLASS PROGRAM
DEPARTMENT OF ACCOUNTING
FACULTY OF ECONOMICS AND SOCIAL SCIENCES
STATE ISLAMIC UNIVERSITY SYARIF IDDAYATULLAH
JAKARTA
1429 H / 2009 M
CURRICULUM VITAE
I.
Personal Biodata
!. Name
Savirul Afifi
2. Place/Date of Birth : Jakarta I October 23rd 1985
3. Address
JI. Poncol Indah IV No.20A Rt02/02, Cirendeu,
Ciputat, Tangerang, 15419 .
II.
4. Religion
Islam
5. Citizen
Indonesia
6. Name of Father
Chusnan Yusuf
7. Name of Mother
Masyitoh
8. Motto
Struggle till the end, back to Allah SWT.
Formal Education
I. Muhammadiyah Elementary School 1st Grade, Banda Aceh.
2. As-Syafi'iyah Islamic Boarding School 2nd-5th Grade, Jakarta.
3. Rawalaut Elementary School 2 (SDN 2) 6th Grade, Bandar Lampung.
4. Junior High School 3 (SMPN 3), Jakai1a.
5. Senior High School 37 (SMUN 37), Jakarta.
6. Accounting Background, Faculty of Economics and Social Sciences,
State Islamic University SyarifHidayatullah, Jakarta.
ABSTRACT
The Islamic Credit Card is facility provided by Bank for the communities and the
customer as one of the facilities in order to fulfill the basic need and secondary
need. However, the community began to consider to use credit card in being
caused by the existence of the interest element that was regarded as something
that was prohibited by Islamic Law.
Savirul "Analysis of Accounting Treatment of Islamic CreditCard in the Islamic
Perspective (Study Case in Bank Danamon Syariah)". One of the indicators that
could be made to measure Sharia Compliance is avoidance of Islamic prohibited
acts, especially in providing the credit card service.
This research aimed at knowing as well as studying the system and the accounting
treatment that was done by Islamic Banking in providing the credit card service.
The analysis method used by writer in this research is the Qualitative Descriptive
Analysis.
Key words : Islamic Banking, System, Sharia Compliance, Islamic Banking Card
ABSTRAK
Kaitu Kredit Syariah adalah fasilitias yang diberikan oleh Bank untuk masyarakat
dan nasabah sebagai salah satu fasilitas untuk memenuhi kebutuhan dasar dan
pelengkap. Bagaimanapun, masyarakat telah mulai memikirkan ulang untuk
menggunakan kartu kredit yang menggunakan elemen bunga, tetapi dilarang oleh
hokum Islam.
Savirul "Analysis of Accounting Treatment of Islamic CreditCard in the Islamic
Perspective (Study Case in Bank Danamon Syariah)". salah satu indikator yang
dapat dijadikan ukuran kepatuhan terhadap hukum ekonomi syariah adalah
terhindarnya perilaku dalam perbankan syariah yang mengarah kepada hal-hal
yang dilarang oleh agama, terutama dalam menyediakan jasa kartu kredit.
Penelitian ini bertujuan untuk mengetahui serta mempelajari sistem dan perilaku
akuntansi yang diberlakukan oleh perbankan syariah dalam menyediakan jasa
kartu !credit. Metode analisis yang digunakan dalam penelitian ini adalah Analisis
DeskriptifKualitatif.
Key words : Perbankan Syariah, Sistem, Kepatuhan terhadap Syariah, Kartu
Kredit Syariah
FOREWORD
By praising Thank Heavens to Allah that showered divine guidance, the
hidayah and inayah so writer can finish the task of Thesis that be entitled
"Analysis of Accounting Treatment of Islamic CreditCard in the Islamic
Perspective (Study Case in Bank Danamon Syariah)"
Shalawat and greetings it is hoped was showered to Rasulullah SAW as
well as the family, the friends but also anyone who followed the step and his
guidance.
In an effort to this Thesis there are many obstacks and the barrier as well
as the difficulty that the writer faced. To face this difficulty, the writer received
much good help of morale and material that are so valuable, the guidance und
facilities that really were needed. Especially to my parents that never tired gave
the affection and their support took the form of the prayer, morale and material to
the writer towards the compilation of this Thesis.
In connection with this Thesis also, then the writer sent the expression of
thanks to:
!. Mr. Prof. Dr. Abdul Hamid, Ms as the Thesis Advisor I and as the
Dean of Faculty of Economics and Social sciences, State Islamic
University SyarifHidayatullah Jakarta, that sinwrely give time to give
the guidance that were useful for the compilation of this Thesis.
2. Ade Wirman Syafei, SE., MSc as the Thesis Advisor II that also
sincerely give time to give the guidance and that were useful for the
compilation of this Thesis.
3. Drs. Abdul Hamid Cebba, Ak, MBA as head of Accounting
department of
Faculty of Economics and Social sciences, State
Islamic University SyarifHidayatullah Jakarta
4. My lecturer who often performed an educational service the writer
with various science sorts while joining lectures as well as the staff
Faculty of Economics and Social sciences, State Islamic University
SyarifHidayatullah Jakaita.
5. My parents, Chusnan Yusuf and Masyitoh Chusnan, who gave the
support and became the source of the motivation, were most main and
valuable.
6. My three older brothers, Haikal Djauhari, Paiz Rafdhi, and
Muhammad Alva Ashri who helped beth from the aspect of morale
and material in the thesis process.
7. My close friend, Tanty Hmjati Amie, that never tired continued to
support and help the writer in the thesis finishing. Hope you can
continue your education soon.
8. My friend, Sofyan Kaharu. Sholatia Dalinmnthe, Aysa Nawazir (you
all are the best pay I've ever had). Abdul, Fajar,, as well as other alayalay that was still scattered in FEIS.
9. All the sides that helped in the thesis finishing.
On all help that was given, once more the writer give thank. Hope that this
thesis could be useful for many sides.
Jakarta,
April 2009
Writer
LIST OF CONTENT
PAGE OF THESIS APPROVAL................................................................... ..
i
PAGE OF COMPREHENSIVE TEST............................................................
n
CURRICULUM VITAE....................................................................................
111
ABSTRACT........................................................................................................
IV
FOREWORD .......................................................................................................
v
LIST OF CONTENT ·················································································· .......
VI
LIST OF TABLES.............................................................................................
vn
LIST OF FIGURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................
vm
CHAPTER I INTRODUCTION
A. Background ofStudy................................................
1
B. Problem Formulation................................................
2
C. Purpose and Benefit....... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3
CHAPTER II THEORETICAL FRAMEWORK
A. Highlight oflslamic Banking......................................
5
1. The Characteristics oflslamic Banking......... . . . . . . . . . . . . .
5
2. Islamic Banking in Indonesia... . . . . . . . . . . . . . . . . . . . . . . . . . . ..... . 9
B. Basic Concept oflslamic Banking Credit Card.................
10
1. Definition of Credit............ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
I0
2. Substance, Aim, and Function of Credit............................
12
3. Definition and Terminology in Banking Cards.............
17
4. Basic Concept ofislamic Banking Cards....................
24
5. Accounting "'reatment for Banking Cards...................
27
a. Accounting ofijarah (Leasing)... . . . . . . . . . . . . . . . . . . . . . . . .
29
b. Accounting of Qardh (loan)...............................
34
c. Accounting ofKafalah (Guarantee)......................
39
6. Fatwa of National Sharia Board . . . . . . . . . . . . . . . .. . . . . . . . . . . . . .
40
CHAPTER III RESEARCH METHODOLOGY
A. Scope of Research. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . ... 41
B. Sampling Method....................................................................
42
C. Data Collection Method...........................................................
42
I. Library Research ......... ....................................................... 42
2. Field Research..................................................................... 42
D. Data Analyze Method................................................ 43
E. Variable Operational................................................. 44
CHAPTER IV RESULTS OF RESEARCH AND DISCUSSIONS
A. Highlight of Research Object...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
46
I. History ofCompany..............................................
46
ii
2. Business Expansion...............................................
50
B. System ofDirham Cards Bank Danamon Syariah...... .........
52
1. General Perspective.............................................
52
2. Application.......................................... . . . . . . . . . . . . 54
3. Component.......................................................
59
4. Data Processing..................................................
62
5. Accounting Treatment..........................................
65
a. ljarah.............................................. ..............................
65
b. Qardh............................................................................
65
c. Kafalah.......... ... ... ... ... ....... .. ..... ... .. .... ..... ..... ........ .. .. ... ...
66
d. Fee, Charges and Penalty.............................................. 67
6. Billing Statement . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
CHAPTER V SUMMARY AND IMPLICATIONS
A. Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . 70
B. Implications ............................................................ 72
REFERENCES
APPENDIX
iii
LIST OF TABLES
Table 4.1 Limit Assigmnent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
57
Table 4.2 Fee and Charges . .. .. . . . . . . . .. .. .. .. . . .. . . . . .. . . . .. . . .. . . . . . .. .. . . . . .. . .. .. . .. .
58
Table 4.3 Key Product Differentiator .. . . .. . . .. . . .. . . .. . .. .. .. . . .. . . .. .. . .. .. . . .. . . . . . . . 60
Table 4.4 Document Requisition . . . . . . . . . . . . .. . ... . .. .. . . . . . . . . . . . . . . . . . . . . .. .. . . . . . . ...
61
Table 4.5 Billing Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
69
iv
LIST OF FIGURES
Figure 4.1 Akad in Transaction .. . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .
55
Figure 4.2 Akad in Transaction II . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . .. . . . .
56
Figure 4.3 Application Flow . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . .. . . .. . . . . . . . . .. . . .. . . . . .. . ...
64
v
Chapter I
Introduction
A. Background of Study
Between the important things in modern period on economic area
since 50 years ago is financial transaction cards system, which the first time
emerge in America, then in Europe, and then spread up in Islamic state and
non-Islamic state.
In economic practice and trading, this system has high benefit and
effectiveness. Economic institution has practice the experience so long and
has known society characteristic so that can collect people in every level,
special for the high level and middle to take apart in this system. Advertising
is focused for the positive thing of this card such as safety aspect, prestige,
satisfy of needed, financial ambition. Advertising covers negative aspect to the
society, either religion or economic, such as debt and interest that
unconsciously by the people. If the negative aspect describe specifically of
course society uninterested with the system, such as cost of cash credit and
cost of money change, interest of fall into areas so that the account which
should be paid by borrower greater. All of them are a debt which burden card
holder so that they can't standing under for the future, specifically for the
limited income people.
All of this happen because unopened agreement between card
holder and issuer card, there's only a hidden clues and unclear, as if there isn't
account between them. While that agreement is used for base by banker to get
the higher benefit. The banker gets higher benefit than interested income
which is got by application and the other product.
This banking cards system grows and spread up in western suitable
with the framework and economic capitalist philosophy. This system is hefty
and specific so that all can be going on. All the system is used for getting the
benefit from the card holder (Abu Sulaiman, 2006: 12)
Besides it, Islamic society has its special economic foundation,
different with the other transaction. The economist offer and explain banking
card system with the economic language and terminology that much people
knew. Every science has a specific terminology, may be this terminology
unknown by a few people. Although some people know, but the knowledge is
!lOt as deepest as the expert one.
B. Problem Formulation
Based on the background that has the writer suggested above, and
then the writer formulated the problem as follows:
I) How will the bank obtain the profit if they are giving the service of the Islamic
banking credit card?
2) What system and Accounting Treatment that was used in the applicatiou of the
Islamic banking credit card?
3) What are the agreements that are stated on the Dirham Card?
4) Can Muslims use the credit cards that are available in the market?
C. Purpose and Benefit
I. Purpose
The purposes of this research are:
a. To know from where the bank will obtain the profit if they are giving
the Islamic credit card service
b. To !mow the system that was used in the application of the Islamic
credit card
c. To know the allocation or funding for the Islamic credit card, by
analyzing the system and its scheme.
d. To know the available contracts and agreement in Dirham Card.
2. Benefit
Whereas the benefit that it was hoped with the implementation of this
research was as follows
a. For the Danamon Sharia Bank, it's expected to be able to be made
input in increasing the role and the achievement from system that was
used in Dirham Card to increase the Customer's satisfaction the
Danamon Sharia Bank
b. For the Faculty, it's hoped could add literature the book in the Faculty
Of Economics especially the Accounting Backg;round so it is able to
increase the concept and knowledge for the writer especially, and for
the reader generally. As well as could be made the reference for the
other writer who carried out the research about the Islamic Credit Card
and Islamic Banking
c. For the Writer, as one of the requirement to follow the final
examination in order to receives the Bachelor Degree of the Faculty of
Economics of State Islamic University Jakarta.
Chapter II
Theoretical framework
A. Highlight oflslamic Banking
1. The Characteristics of Islamic Banking.
The Islamic Principle in the assets management stressed on the
balance between the interests of the individual and the community. The
wealth must be used for productive matters especially the economic
activity in getting the profit. Therefore, intermediary institute was needed
to intermediary the fund owner with the fund manager. One of the forms
of this intermediary institute was the Bank, which are their activities were
based on the Islamic principle. The Islamic Bank is the Bank that was
based on the paiinership, justice, the transparency, and universal as well as
carried out the activity of Banking efforts was based on the principle of
Islamic principle (Muhammad Syafi'i Antonio, 2002:48) The Islamic
Banki"g activity was the implementation and the principle of Islamic
economics characteristically, these are:
a. The banning of usury or riba in various forms.
b. There is no time value of money concept.
c. The concept of money as the implement exchanged, not as
commodity goods.
d. It is not allowed to carry out two prices for one goods.
e. It is not allowed two transactions in one contract.
Islamic Bank operated on the basis of the profit-sharing concept.
Islamic Bank did not use interest as the implement to get revenue and
burden the interest on the use of the fund and the loan because interest is
usury or riba that is prohibited. Difference from non··Islamic Bank that did
not distinguish firmly between the monetary sector and the real sector, so
as in its business activity could carry out real sector transactions, like the
trade and rent leased.
Islamic Bank could run its business activity to receive the
repayment for the other Banking service that was not against with the
Islamic principle.
A transaction in accordance with the Islamic principle if filling
these conditions, those are:
a. The transaction did not contain the element of fraudulent
b. Not riba or usury
c. Did not pay the side personally or other side
d. There is no deception (Gharar)
e. No contain materials that are prohibited
f.
No contain the element of gambling (Muhammad Syafi'i
Antonio, 2002: 46)
In relation to the above matter, was gotten by several Islam
propositions that banned the system riba. Nevertheless, Allah filed
ban treatise on the practice of usury in four stages:
First srage:
In Alquran surah Al-Ruum [30]: 39 were named:
39. and that which You give In gift (to others), In order that it may
increase (your wealth by expecting to get a better one In return)
from other people's property, has no increase with Allah, but that
which You give In Zakat seeking Allah's Countenance Then those,
they shall have manifold increase.
Second Stage
In Alquran surah An-Nisaa [6]: 160-161 were named:
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Analysis of Accounting Treatment of Islamic Credit Card in the
Islamic Perspective
(Case Study in Bank Danamon Syariah)
SKRIP SI
Submitted by :
Savirul Afifi
Student ID: 604082000024
0;10;
ｩＧｾ｜＠
J:irl
INTERNATIONAL CLASS PROGRAM
DEPARTMENT OF ACCOUNTING
FACULTY OF ECONOMICS AND SOCIAL SCIENCES
STATE ISLAMIC UNIVERSITY SYARIF HIDAYATULLAH
JAKARTA
1429 HI 2009 M
(Case Study in Bank Danamon Syarialn)
SKRIPSI
Submitted to Faculty of Economy and Social Sciences
As Partial Requirement for Acquiring Bachelor Degree of Economy
Submitted by:
Savirul Afifi
Student ID: 604082000024
Under Guidance of
Academic Advisor I
Academir. Advisor II
Prof. Dr. Abdul Hamid, MS
Ade Wirman Syafoi, SE., MSc
INTERNATIONAL CLASS
ｐｒｑＬｇａｾＮＱ＠
DEPARTMENT OF ACCOUNTING
FACULTY OF ECONOMICS AND SOCIAL SCIENCES
STATE ISLAMIC UNIVERSITY SYARIF HIDAYATULLAH
JAKARTA
1429 HI 2009 M
Today, we administered a comprehensive test examination to Savirul Afifi ID
604082000024. The title of his thesis is: "Analysis of Acconnting Treatment of
Islamic Credit Card in the Islamic Perspective (Case Study iu Bank Danamon
Syariah)". After proper examination of the work student, we have decided that he
has met all of the requirements for the title of Bachelor of Economics on the field of
Accounting, State Islamic University (Universitas Islam Neg'3ri) Syarif Hidayatullah
Jakarta.
Jakarta, August
1st
2008
Comprehensive Examination Team
Drs. Abdu Hamid Cebba, Ak, MBA
Head of Accounting Department
Prof. Dr. Abdul Hamid, MS.
Dean of Faculty of Economics
and Social Sciences
ii
Analysis of Accounting Treatment of Islamic Credit Card in the Islamic Perspective
(Case Study in Bank Danamon Syariah)
SiffiIPSI
Submitted to Faculty of Economy and Social Sciences
As Partial Requikment for Acquiring Bachelor Degree of Economy
Submitted by:
Savirul Afifi
Student ID: 604082000024
Under Guidance of
Academic Advisor I
Academic Advisor II
Prof. Dr. Abdul Hamid, MS
Ade Wirma.> Syafei, SE., MSc
Professional Examiner
id Cebba Ak MBA
INTERNATIONAL CLASS PROGRAM
DEPARTMENT OF ACCOUNTING
FACULTY OF ECONOMICS AND SOCIAL SCIENCES
STATE ISLAMIC UNIVERSITY SYARIF IDDAYATULLAH
JAKARTA
1429 H / 2009 M
CURRICULUM VITAE
I.
Personal Biodata
!. Name
Savirul Afifi
2. Place/Date of Birth : Jakarta I October 23rd 1985
3. Address
JI. Poncol Indah IV No.20A Rt02/02, Cirendeu,
Ciputat, Tangerang, 15419 .
II.
4. Religion
Islam
5. Citizen
Indonesia
6. Name of Father
Chusnan Yusuf
7. Name of Mother
Masyitoh
8. Motto
Struggle till the end, back to Allah SWT.
Formal Education
I. Muhammadiyah Elementary School 1st Grade, Banda Aceh.
2. As-Syafi'iyah Islamic Boarding School 2nd-5th Grade, Jakarta.
3. Rawalaut Elementary School 2 (SDN 2) 6th Grade, Bandar Lampung.
4. Junior High School 3 (SMPN 3), Jakai1a.
5. Senior High School 37 (SMUN 37), Jakarta.
6. Accounting Background, Faculty of Economics and Social Sciences,
State Islamic University SyarifHidayatullah, Jakarta.
ABSTRACT
The Islamic Credit Card is facility provided by Bank for the communities and the
customer as one of the facilities in order to fulfill the basic need and secondary
need. However, the community began to consider to use credit card in being
caused by the existence of the interest element that was regarded as something
that was prohibited by Islamic Law.
Savirul "Analysis of Accounting Treatment of Islamic CreditCard in the Islamic
Perspective (Study Case in Bank Danamon Syariah)". One of the indicators that
could be made to measure Sharia Compliance is avoidance of Islamic prohibited
acts, especially in providing the credit card service.
This research aimed at knowing as well as studying the system and the accounting
treatment that was done by Islamic Banking in providing the credit card service.
The analysis method used by writer in this research is the Qualitative Descriptive
Analysis.
Key words : Islamic Banking, System, Sharia Compliance, Islamic Banking Card
ABSTRAK
Kaitu Kredit Syariah adalah fasilitias yang diberikan oleh Bank untuk masyarakat
dan nasabah sebagai salah satu fasilitas untuk memenuhi kebutuhan dasar dan
pelengkap. Bagaimanapun, masyarakat telah mulai memikirkan ulang untuk
menggunakan kartu kredit yang menggunakan elemen bunga, tetapi dilarang oleh
hokum Islam.
Savirul "Analysis of Accounting Treatment of Islamic CreditCard in the Islamic
Perspective (Study Case in Bank Danamon Syariah)". salah satu indikator yang
dapat dijadikan ukuran kepatuhan terhadap hukum ekonomi syariah adalah
terhindarnya perilaku dalam perbankan syariah yang mengarah kepada hal-hal
yang dilarang oleh agama, terutama dalam menyediakan jasa kartu kredit.
Penelitian ini bertujuan untuk mengetahui serta mempelajari sistem dan perilaku
akuntansi yang diberlakukan oleh perbankan syariah dalam menyediakan jasa
kartu !credit. Metode analisis yang digunakan dalam penelitian ini adalah Analisis
DeskriptifKualitatif.
Key words : Perbankan Syariah, Sistem, Kepatuhan terhadap Syariah, Kartu
Kredit Syariah
FOREWORD
By praising Thank Heavens to Allah that showered divine guidance, the
hidayah and inayah so writer can finish the task of Thesis that be entitled
"Analysis of Accounting Treatment of Islamic CreditCard in the Islamic
Perspective (Study Case in Bank Danamon Syariah)"
Shalawat and greetings it is hoped was showered to Rasulullah SAW as
well as the family, the friends but also anyone who followed the step and his
guidance.
In an effort to this Thesis there are many obstacks and the barrier as well
as the difficulty that the writer faced. To face this difficulty, the writer received
much good help of morale and material that are so valuable, the guidance und
facilities that really were needed. Especially to my parents that never tired gave
the affection and their support took the form of the prayer, morale and material to
the writer towards the compilation of this Thesis.
In connection with this Thesis also, then the writer sent the expression of
thanks to:
!. Mr. Prof. Dr. Abdul Hamid, Ms as the Thesis Advisor I and as the
Dean of Faculty of Economics and Social sciences, State Islamic
University SyarifHidayatullah Jakarta, that sinwrely give time to give
the guidance that were useful for the compilation of this Thesis.
2. Ade Wirman Syafei, SE., MSc as the Thesis Advisor II that also
sincerely give time to give the guidance and that were useful for the
compilation of this Thesis.
3. Drs. Abdul Hamid Cebba, Ak, MBA as head of Accounting
department of
Faculty of Economics and Social sciences, State
Islamic University SyarifHidayatullah Jakarta
4. My lecturer who often performed an educational service the writer
with various science sorts while joining lectures as well as the staff
Faculty of Economics and Social sciences, State Islamic University
SyarifHidayatullah Jakaita.
5. My parents, Chusnan Yusuf and Masyitoh Chusnan, who gave the
support and became the source of the motivation, were most main and
valuable.
6. My three older brothers, Haikal Djauhari, Paiz Rafdhi, and
Muhammad Alva Ashri who helped beth from the aspect of morale
and material in the thesis process.
7. My close friend, Tanty Hmjati Amie, that never tired continued to
support and help the writer in the thesis finishing. Hope you can
continue your education soon.
8. My friend, Sofyan Kaharu. Sholatia Dalinmnthe, Aysa Nawazir (you
all are the best pay I've ever had). Abdul, Fajar,, as well as other alayalay that was still scattered in FEIS.
9. All the sides that helped in the thesis finishing.
On all help that was given, once more the writer give thank. Hope that this
thesis could be useful for many sides.
Jakarta,
April 2009
Writer
LIST OF CONTENT
PAGE OF THESIS APPROVAL................................................................... ..
i
PAGE OF COMPREHENSIVE TEST............................................................
n
CURRICULUM VITAE....................................................................................
111
ABSTRACT........................................................................................................
IV
FOREWORD .......................................................................................................
v
LIST OF CONTENT ·················································································· .......
VI
LIST OF TABLES.............................................................................................
vn
LIST OF FIGURES . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ................
vm
CHAPTER I INTRODUCTION
A. Background ofStudy................................................
1
B. Problem Formulation................................................
2
C. Purpose and Benefit....... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. 3
CHAPTER II THEORETICAL FRAMEWORK
A. Highlight oflslamic Banking......................................
5
1. The Characteristics oflslamic Banking......... . . . . . . . . . . . . .
5
2. Islamic Banking in Indonesia... . . . . . . . . . . . . . . . . . . . . . . . . . . ..... . 9
B. Basic Concept oflslamic Banking Credit Card.................
10
1. Definition of Credit............ . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
I0
2. Substance, Aim, and Function of Credit............................
12
3. Definition and Terminology in Banking Cards.............
17
4. Basic Concept ofislamic Banking Cards....................
24
5. Accounting "'reatment for Banking Cards...................
27
a. Accounting ofijarah (Leasing)... . . . . . . . . . . . . . . . . . . . . . . . .
29
b. Accounting of Qardh (loan)...............................
34
c. Accounting ofKafalah (Guarantee)......................
39
6. Fatwa of National Sharia Board . . . . . . . . . . . . . . . .. . . . . . . . . . . . . .
40
CHAPTER III RESEARCH METHODOLOGY
A. Scope of Research. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . ... 41
B. Sampling Method....................................................................
42
C. Data Collection Method...........................................................
42
I. Library Research ......... ....................................................... 42
2. Field Research..................................................................... 42
D. Data Analyze Method................................................ 43
E. Variable Operational................................................. 44
CHAPTER IV RESULTS OF RESEARCH AND DISCUSSIONS
A. Highlight of Research Object...... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ...
46
I. History ofCompany..............................................
46
ii
2. Business Expansion...............................................
50
B. System ofDirham Cards Bank Danamon Syariah...... .........
52
1. General Perspective.............................................
52
2. Application.......................................... . . . . . . . . . . . . 54
3. Component.......................................................
59
4. Data Processing..................................................
62
5. Accounting Treatment..........................................
65
a. ljarah.............................................. ..............................
65
b. Qardh............................................................................
65
c. Kafalah.......... ... ... ... ... ....... .. ..... ... .. .... ..... ..... ........ .. .. ... ...
66
d. Fee, Charges and Penalty.............................................. 67
6. Billing Statement . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 67
CHAPTER V SUMMARY AND IMPLICATIONS
A. Summary. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . 70
B. Implications ............................................................ 72
REFERENCES
APPENDIX
iii
LIST OF TABLES
Table 4.1 Limit Assigmnent . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .
57
Table 4.2 Fee and Charges . .. .. . . . . . . . .. .. .. .. . . .. . . . . .. . . . .. . . .. . . . . . .. .. . . . . .. . .. .. . .. .
58
Table 4.3 Key Product Differentiator .. . . .. . . .. . . .. . . .. . .. .. .. . . .. . . .. .. . .. .. . . .. . . . . . . . 60
Table 4.4 Document Requisition . . . . . . . . . . . . .. . ... . .. .. . . . . . . . . . . . . . . . . . . . . .. .. . . . . . . ...
61
Table 4.5 Billing Statement . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . ..
69
iv
LIST OF FIGURES
Figure 4.1 Akad in Transaction .. . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . . . . . . . . . . . . .
55
Figure 4.2 Akad in Transaction II . . . . . . . . . .. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .. . . . . . . .. . . . .
56
Figure 4.3 Application Flow . . . . . . . . . . . . . . . . . . . . . .. . . . . .. . . .. . . .. . . . . . . . . .. . . .. . . . . .. . ...
64
v
Chapter I
Introduction
A. Background of Study
Between the important things in modern period on economic area
since 50 years ago is financial transaction cards system, which the first time
emerge in America, then in Europe, and then spread up in Islamic state and
non-Islamic state.
In economic practice and trading, this system has high benefit and
effectiveness. Economic institution has practice the experience so long and
has known society characteristic so that can collect people in every level,
special for the high level and middle to take apart in this system. Advertising
is focused for the positive thing of this card such as safety aspect, prestige,
satisfy of needed, financial ambition. Advertising covers negative aspect to the
society, either religion or economic, such as debt and interest that
unconsciously by the people. If the negative aspect describe specifically of
course society uninterested with the system, such as cost of cash credit and
cost of money change, interest of fall into areas so that the account which
should be paid by borrower greater. All of them are a debt which burden card
holder so that they can't standing under for the future, specifically for the
limited income people.
All of this happen because unopened agreement between card
holder and issuer card, there's only a hidden clues and unclear, as if there isn't
account between them. While that agreement is used for base by banker to get
the higher benefit. The banker gets higher benefit than interested income
which is got by application and the other product.
This banking cards system grows and spread up in western suitable
with the framework and economic capitalist philosophy. This system is hefty
and specific so that all can be going on. All the system is used for getting the
benefit from the card holder (Abu Sulaiman, 2006: 12)
Besides it, Islamic society has its special economic foundation,
different with the other transaction. The economist offer and explain banking
card system with the economic language and terminology that much people
knew. Every science has a specific terminology, may be this terminology
unknown by a few people. Although some people know, but the knowledge is
!lOt as deepest as the expert one.
B. Problem Formulation
Based on the background that has the writer suggested above, and
then the writer formulated the problem as follows:
I) How will the bank obtain the profit if they are giving the service of the Islamic
banking credit card?
2) What system and Accounting Treatment that was used in the applicatiou of the
Islamic banking credit card?
3) What are the agreements that are stated on the Dirham Card?
4) Can Muslims use the credit cards that are available in the market?
C. Purpose and Benefit
I. Purpose
The purposes of this research are:
a. To know from where the bank will obtain the profit if they are giving
the Islamic credit card service
b. To !mow the system that was used in the application of the Islamic
credit card
c. To know the allocation or funding for the Islamic credit card, by
analyzing the system and its scheme.
d. To know the available contracts and agreement in Dirham Card.
2. Benefit
Whereas the benefit that it was hoped with the implementation of this
research was as follows
a. For the Danamon Sharia Bank, it's expected to be able to be made
input in increasing the role and the achievement from system that was
used in Dirham Card to increase the Customer's satisfaction the
Danamon Sharia Bank
b. For the Faculty, it's hoped could add literature the book in the Faculty
Of Economics especially the Accounting Backg;round so it is able to
increase the concept and knowledge for the writer especially, and for
the reader generally. As well as could be made the reference for the
other writer who carried out the research about the Islamic Credit Card
and Islamic Banking
c. For the Writer, as one of the requirement to follow the final
examination in order to receives the Bachelor Degree of the Faculty of
Economics of State Islamic University Jakarta.
Chapter II
Theoretical framework
A. Highlight oflslamic Banking
1. The Characteristics of Islamic Banking.
The Islamic Principle in the assets management stressed on the
balance between the interests of the individual and the community. The
wealth must be used for productive matters especially the economic
activity in getting the profit. Therefore, intermediary institute was needed
to intermediary the fund owner with the fund manager. One of the forms
of this intermediary institute was the Bank, which are their activities were
based on the Islamic principle. The Islamic Bank is the Bank that was
based on the paiinership, justice, the transparency, and universal as well as
carried out the activity of Banking efforts was based on the principle of
Islamic principle (Muhammad Syafi'i Antonio, 2002:48) The Islamic
Banki"g activity was the implementation and the principle of Islamic
economics characteristically, these are:
a. The banning of usury or riba in various forms.
b. There is no time value of money concept.
c. The concept of money as the implement exchanged, not as
commodity goods.
d. It is not allowed to carry out two prices for one goods.
e. It is not allowed two transactions in one contract.
Islamic Bank operated on the basis of the profit-sharing concept.
Islamic Bank did not use interest as the implement to get revenue and
burden the interest on the use of the fund and the loan because interest is
usury or riba that is prohibited. Difference from non··Islamic Bank that did
not distinguish firmly between the monetary sector and the real sector, so
as in its business activity could carry out real sector transactions, like the
trade and rent leased.
Islamic Bank could run its business activity to receive the
repayment for the other Banking service that was not against with the
Islamic principle.
A transaction in accordance with the Islamic principle if filling
these conditions, those are:
a. The transaction did not contain the element of fraudulent
b. Not riba or usury
c. Did not pay the side personally or other side
d. There is no deception (Gharar)
e. No contain materials that are prohibited
f.
No contain the element of gambling (Muhammad Syafi'i
Antonio, 2002: 46)
In relation to the above matter, was gotten by several Islam
propositions that banned the system riba. Nevertheless, Allah filed
ban treatise on the practice of usury in four stages:
First srage:
In Alquran surah Al-Ruum [30]: 39 were named:
39. and that which You give In gift (to others), In order that it may
increase (your wealth by expecting to get a better one In return)
from other people's property, has no increase with Allah, but that
which You give In Zakat seeking Allah's Countenance Then those,
they shall have manifold increase.
Second Stage
In Alquran surah An-Nisaa [6]: 160-161 were named:
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