ekonomisyariah.org - Profit sharing financing is one of
Islamic financing schemes. This scheme should be a main scheme in
Islamic financing sector, because it represents fairness business
scheme, which each partner will share both profit and loss. But the
reality is different. Most of Islamic financing scheme in Indonesia is
not profit sharing (mudharabah/musyarakah)2, but mark up financing
(murabahah). (source)
Murabahah scheme is financing scheme which customer proposes for Islamic Financial Institution to finance an asset, Islamic Financial Institution will buy the asset from supplier at certain price and sell to the customer in higher price (mark-up financing). Customer will pay the asset at "fixed" price in certain financing period.
Due to my experience, one of the
problems of this condition is "adverse collection". If the customer
business is a start up company/new entrepreneur, the business risk is
rather high and the profit is still low, - because lack of business
experience -, the collateral is insufficient. In the situation where
he/she has no collateral, the customer prefers profit sharing financing
scheme (mudharabah/musyarakah) rather than mark-up financing scheme
(murabahah). This is due to the need of the customer to share its
risk. On the other hand, Islamic Financial Institution will avoid
profit sharing scheme and prefer to use mark-up financing, because the
business is too risky on their term.
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