Musyarakah Mutanaqisah sebagai Model Bagi Hasil dan Kepemilikan Bertahap: Tinjauan Literatur dalam Konteks Keuangan Syariah di Indonesia

Abstract

Musyarakah Mutanaqisah (MMQ) is an Islamic financing model that offers the concepts of risk sharing and gradual ownership as an alternative for property financing. However, the implementation of MMQ in Indonesia faces various challenges, such as complex contracts, obstacles in agrarian law regulations, and low literacy among the public and industry players. This study aims to examine the practice of MMQ implementation in Islamic banking in Indonesia, identify the challenges encountered, and evaluate options for optimizing this model to better align with Sharia principles and national regulations. The method used is a literature review with a qualitative descriptive design, utilizing data from journal articles, DSN-MUI fatwa documents, and other related literature. Data analysis was conducted through content analysis to identify main themes and patterns. The results show that MMQ has been implemented in several Islamic banks, such as the Griya Hasanah product, with effectiveness influenced by system readiness and internal collaboration. The main challenges include the complexity of multi-contracts, incompatibility with agrarian regulations, and low public literacy. Recommended optimization options include enhancing education, simplifying administration, and harmonizing regulations so that MMQ can develop as a leading product that is just and compliant with Sharia principles. MMQ has the potential to be an inclusive property financing solution based on risk sharing; however, successful implementation requires synergy among financial institutions, regulators, and public education to overcome regulatory barriers and increase understanding of MMQ contracts.