Proceedings of the 1st International Seminar on Sharia, Law and Muslim Society (ISSLAMS 2022)

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The Responsibility for Defaults on Financing Agreements in Shari’a Financial Institutions

Authors
Abdullah Taufik1, *
1Faculty of Sharia, State Institute for Islamic Studies, Kediri, Indonesia
*Corresponding author. Email: abtakediri@iainkediri.ac.id
Corresponding Author
Abdullah Taufik
Available Online 22 December 2022.
DOI
10.2991/978-2-494069-81-7_25How to use a DOI?
Keywords
Financing agreement; default; debtor responsibility
Abstract

The act of default of a debtor in a financing contract at a shari’a financial institution will have a negative impact on creditors, namely losses, so to recover the loss, the debtor is obliged to be responsible for his actions.this study aims to find the concept of the debtor’s responsibility for defaulting on the appropriate financing contract for dispute resolution at the shari’a financial institution. The research method used is empirical juridical, with a qualitative descriptive approach, BMT UGT Sidogiri cab Mojo Kediri as data sources and fatwa`s ulama on compensation. The results of this study are presented; A. about default; Default is perceived as the act of not carrying out installment payments for three installments either consecutively or intermittently, not carrying out repayment when due. B. on the responsibility, that the debtor who defaulted on BMT UGT Sidogiri is obliged to; Paying off the total remaining installments that have not been paid, responsible for the amount of the remaining installments both principal and for the profit, releasing collateral objects either sold alone or through the power to sell by the BMT UGT Sidogiri cab. Mojo Kediri.

Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

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Volume Title
Proceedings of the 1st International Seminar on Sharia, Law and Muslim Society (ISSLAMS 2022)
Series
Advances in Social Science, Education and Humanities Research
Publication Date
22 December 2022
ISBN
10.2991/978-2-494069-81-7_25
ISSN
2352-5398
DOI
10.2991/978-2-494069-81-7_25How to use a DOI?
Copyright
© 2022 The Author(s)
Open Access
Open Access This chapter is licensed under the terms of the Creative Commons Attribution-NonCommercial 4.0 International License (http://creativecommons.org/licenses/by-nc/4.0/), which permits any noncommercial use, sharing, adaptation, distribution and reproduction in any medium or format, as long as you give appropriate credit to the original author(s) and the source, provide a link to the Creative Commons license and indicate if changes were made.

Cite this article

risenwbib
TY  - CONF
AU  - Abdullah Taufik
PY  - 2022
DA  - 2022/12/22
TI  - The Responsibility for Defaults on Financing Agreements in Shari’a Financial Institutions
BT  - Proceedings of the 1st International Seminar on Sharia, Law and Muslim Society (ISSLAMS 2022)
PB  - Atlantis Press
SP  - 241
EP  - 249
SN  - 2352-5398
UR  - https://doi.org/10.2991/978-2-494069-81-7_25
DO  - 10.2991/978-2-494069-81-7_25
ID  - Taufik2022
ER  -