The Mortgage Right as MurÄbaḥah Financing Security

Introduction to The Problem: In order to guarantee the legal certainty for the Islamic banking customer in murÄbaḥah financing is the requirement of mortgage right. The bank customer may use mortgage right as collateral in murÄbaḥah financing. Furthermore, the right can be implemented in the indebtedness, which is different from debt. Purpose/Objective Study: This research aims to find out the contract (al-‘aqd) that is used by the shariah bank to implement the mortgage rights in murÄbaḥah financing. Design/Methodology/Approach: This study is normative juridical research with emphasis beginning on a legal event and then looking for references to a norm system. Therefore, this legal research is conducted by examining primary and secondary legal materials, and non-legal materials relating to the application of Mortgage Rights in Financing, especially for murÄbaḥah financing. In this study, the approach was the statute approach by examining all laws and regulations relating to legal issues, and case approach by examining several cases that have a relationship with the legal issues to be discussed. Findings: The result of this study is that the implementation of mortgage right in murÄbaḥah financing is the possibility of using another contract made by sharia banking with its customers; the contract of acknowledgment of debt. This basis is used as the justification of the implementation of mortgage rights in murÄbaḥah financing.