Letter of Credit (L/C) dalam Produk Bank Syariah

Abstract

The existence of letter of credit which is really accordance with Islamic
syariah principles has been waited by moslem bussinessmen who want to
run their religion values in all their life. The conventional L/C is considered
as on syariah L/C due to its practice still applicates the interest system. The
regulation of L/C Syariah has been existed in Act No. 21/2008 concerning
Perbankan Syariah, in article 19 p, and long before the act was made, the
existence of L/C Syariah has been mentioned in Fatwa Dewan Syariah
Nasional MUI NO.34/DSN-MUI/IX/2002 concerning L/C Impor Syariah and
Fatwa Dewan Syariah Nasional MUI No. 35/DSN-MUI/IX/2002 concerning
L/C Ekspor Syariah. L/C Syariah can applicate some models of akads/
contracts, such as: wakalah bi al-ujrah, qard, murabahah, salam/istisna’,
mudarabah, musharakah, hawalah and al-bai’. From the variety of contract
models which can be applicated to the L/C Syariah, wakalah bi al-ujrah and
murabahah are considered as the most efficient, safest, and the most minimum
risky. Wakalah bi al-ujrah and murabahah are also an agreement that closest
to the goal of L/C existence, that is: makes the international trade process
become easier