Academy of Accounting and Financial Studies Journal (Print ISSN: 1096-3685; Online ISSN: 1528-2635)


Annuity Murabaha after Being Regulated in Indonesia, Is It Like Riba (USURY)?

Author(s): Dodik Siswantoro

This paper aims to analyze the characteristics of Muslim scholars' preferences on annuity murabaha in Indonesia. Annuity income recognition of Murabaha is permissible from 2013 then it would be regulated in 2019. Annuity recognition has been practiced by conventional banks which are based on the interest rate. The research method applied is based on quantitative and qualitative methods using a survey on member of the public hearing group on revised murabaha accounting standard and discussion during the public hearing. Forty respondents participated in the survey. Data would be analyzed using factor analysis. Results show that most respondents do not agree with annuity recognition in murabaha, but no solution for this issue. No significant affecting factors on margin murabaha similar to riba, this may be caused some people have resigned to this issue. However, the higher the education would state that margin murabaha is similar to interest rate. This is similar to not use murabaha respondents. This is the first paper which responding the revision of annuity income recognition of murabaha accounting standard in Indonesia with specific requirements.

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