IMPLEMENTATION OF ISLAMIC ECONOMIC LAW VALUES IN SHARIA FINANCIAL SERVICES COOPERATIVE PRODUCTS
IMPLEMENTATION OF ISLAMIC ECONOMIC LAW VALUES IN SHARIA FINANCIAL SERVICES COOPERATIVE PRODUCTS

Summary/Abstract: This study focuses on the problem of the application of Islamic legal values to the products of the BTM Melati Islamic Financial Services Cooperative in Pekalongan City. This study uses qualitative methods that use direct observation and interviews as data collection techniques. The result of the research concludes that the product of Si Wadi’ah (Mandatory Prize Savings) is a type of savings that uses the Wadi’ah yad Dhamanah contract. These deposits are made once a month, starting from IDR 100,000 for a period of 24-36 months and are withdrawn at a certain time according to the agreed time (cannot be retrieved at any time). Every member who participates in this program is guaranteed to get an attractive prize. The advantages of Si Wadi’ah savings products are that each member is guaranteed to get a prize, members get profit sharing at the end of the period, deposits can be made in all branches and can pick up the ball to the member’s place, no monthly administration fee, and through member wadi’ah savings products can program finances in a planned manner. While the weakness of wadi’ah savings products is that wadi’ah savings products are time-bound and there is a potential for customers not to continue making deposits.

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