THE IMPLEMENTATION OF AR RAHN CONTRACTS

Abstract

The Islamic finance industry has developed quite rapidly and has been accepted by the
Indonesian people. Many products appear, such as Banking Funding and Financing,
Leasing, Insurance and Pawn. Indonesian people, especially the lower middle class, as
Indonesia a developing country, are familiar with pawn products. I n 2010 the Central
Bank of Indonesia adopted a policy that Pawn can no longer be a monopoly which
caused a spurt of Ar Rahn in Islamic Banks product. This phenomenon shows that the
public's interest of Ar Rahn's is great so the availability of many branches are to serve
public. This research also aims to complete the Islamic Finance study, because so
many arthicles about Banking, Leasing, and Insurrance but rare about Rahn. This
research using descriptive qualitative method, with internship for a month on
headquarters of PT. Pegadaian (Persero), focusing on syariah division and syariah
operational main branch to understand the theoretical comes with practice. At the end,
we can find out that Rahn customers are no longer the poor but also the rich who
believe there is also an investment on gold through pawning. In general, The Rahn
aqad can be grouped into two, consumption and production. The consumption objective
of Rahn is for medical expenses, education expenses, etc. Whereas for the productive
purposes, Rahn can be done through 3 (three) schemes/aqad namely Mudharaba,
Murabaha and Musharaka contract.