TADAYUN: Jurnal Hukum Ekonomi Syariah
P-ISSN: 2961-8436 | E-ISSN: 2774-4914
Vol.
6 No.
July-December 2025
ASSESSING SHARIA COMPLIANCE OF LATE
PAYMENT CHARGES IN GOLD INSTALLMENT
SCHEMES
Muhammad Aziz Zakiruddin1.
Tri Yolanda2 Sharia Economic Law Department.
Faculty of Shariah.
UIN Fatmawati Sukarno Bengkulu.
Indonesia.
Aziz23zaki@gmail.
Sharia Economic Law Department.
Faculty of Shariah.
UIN Fatmawati Sukarno Bengkulu.
Indonesia.
Triyolanda11@icloud.
Doi: 10.
24239/tadayun.
Received: 29 September 2025 Revised: 15 October 2025 Accepted: 17 October 2025 Abstract The implementation of non-cash gold transactions in Islamic finance requires a careful balance between risk mitigation and adherence to Sharia principles.
DSNMUI Fatwa No.
77/DSN-MUI/V/2010 mandates that the selling price .
in gold installments must remain fixed, yet operational realities often require mechanisms to handle default risks.
This study evaluates the alignment of late payment charge practices at Pegadaian Syariah Bengkulu with prevailing Sharia Employing empirical legal research, data were collected through indepth interviews and document analysis.
The results indicate that Pegadaian Syariah applies a progressive penalty mechanism ranging from 1% to 4% depending on the duration of the delay.
While this mechanism effectively functions as a deterrent (TaAozi.
against negligent customers aligned with the spirit of Fatwa No.
17/DSN-MUI/IX/2000 the progressive calculation based on time presents a compliance gap regarding the fixed price requirement in Fatwa No.
77/2010.
The study suggests that to minimize ambiguity regarding the time value of money, harmonization is needed by transitioning the penalty structure from a progressive percentage to a fixed nominal administrative fee.
This adjustment would ensure stronger adherence to Sharia standards while maintaining operational discipline.
Keywords: Gold installment.
Late payment charge.
Non-cash gold Sharia compliance.
Abstrak Pelaksanaan transaksi emas tidak tunai dalam keuangan syariah menuntut keseimbangan yang cermat antara mitigasi risiko dan kepatuhan terhadap prinsip Syariah.
Fatwa DSN-MUI No.
77/DSN-MUI/V/2010 menegaskan bahwa harga jual .
dalam cicilan emas harus tetap, namun realitas operasional sering kali membutuhkan mekanisme untuk menangani risiko gagal bayar.
Penelitian ini NonCommercial 0 International License Copyright A 2025 Muhammad Aziz Zakiruddin.
Tri Yolanda This is an open-access article distributed under Creative Commons Attribution.
mengevaluasi keselarasan praktik biaya keterlambatan di Pegadaian Syariah Cabang Bengkulu dengan regulasi Syariah yang berlaku.
Menggunakan metode penelitian hukum empiris, data dikumpulkan melalui wawancara mendalam dan analisis dokumen.
Hasil penelitian menunjukkan bahwa Pegadaian Syariah menerapkan mekanisme denda progresif berkisar antara 1% hingga 4% bergantung pada durasi keterlambatan.
Meskipun mekanisme ini efektif berfungsi sebagai sanksi (TaAozi.
bagi nasabah yang lalai selaras dengan semangat Fatwa No.
17/DSN-MUI/IX/2000 perhitungan progresif berbasis waktu menunjukkan adanya kesenjangan kepatuhan .
ompliance ga.
terhadap ketentuan harga tetap dalam Fatwa No.
77/2010.
Penelitian ini menyarankan perlunya harmonisasi dengan mengubah struktur denda dari persentase progresif menjadi biaya administrasi nominal tetap.
Penyesuaian ini bertujuan untuk meminimalkan ambiguitas terkait time value of money serta memastikan kepatuhan syariah yang lebih kokoh tanpa mengurangi disiplin operasional.
Kata Kunci: Cicil emas.
Emas tidak tunai.
Kepatuhan syariah.
Keterlambatan INTRODUCTION The growth of the global Islamic finance industry has shown a significant upward trend, driven by rising public awareness of the importance of conducting transactions free from riba, gharar, and 1 In Indonesia, this trend is reflected in reports from the Financial Services Authority (OJK), which recorded a substantial increase in Sharia financial assets, reaching IDR 9.
927 trillion by the end of 2024, with an annual growth rate of 11.
8% year-on-year.
2 Among the most sought-after investment instruments within this ecosystem is gold.
Gold is not only regarded as a jewelry commodity but also as a store of value.
3 That serves as a reliable hedge against inflation.
Treska Melsa Diani and Lucky Nugroho.
AuEconomics & Islamic Finance Journal Advancing Islamic Financial Planning in Indonesia : Principles .
Challenges , and The Role of Tawhid String Relationship Theory,Ay Economics & Islamic Finance Journal (ECIF) 1, no.
: 142Ae54.
Kepala Departemen Literasi Inklusi Keuangan dan Komunikasi M.
Ismail Riyadi.
AuSiaran Pers OJK: Kinerja Industri Jasa Keuangan Syariah Tumbuh Positif (SP 134/GKPB/OJK/IX/2.
,Ay Otoritas Jasa Keuangan (OJK), 2025, https://ojk.
id/id/beritadan-kegiatan/siaran-pers/Pages/OJK-Kinerja-Industri-Jasa-Keuangan-SyariahTumbuh-Positif.
Jefik Zulfikar Hafidz.
AuInvestasi Emas Dalam Perspektif Hukum Islam,Ay Jurnal Hukum Ekonomi Syariah Vol.
No.
96Ae110, https://36.
123/index.
php/jhes/article/view/5302.
Kuan-Min Wang.
Yuan-Ming Lee, and Thanh-Binh Nguyen Thi.
AuTime and Place Where Gold Acts as an Inflation Hedge: An Application of Long-Run and Short-Run 128 | Vol.
6 No.
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TADAYUN
However, from the perspective of Islamic law, gold holds a distinct status as a ribawi commodity whose exchange requires strict adherence to Sharia principles.
5 This requirement is grounded in the normative foundation of QurAoan Surah al-NisaAo .
: AuO you who believe, do not consume one anotherAos property unjustly, unless it is through trade conducted by mutual consent among you.
And do not kill yourselves.
Allah is ever Merciful to you.
Ay 6 This verse prohibits the unlawful acquisition of wealth and mandates the principle of mutual consent .
ntarAsi.
in transactions.
One issue that has sparked scholarly debate is Fatwa No.
77/DSNMUI/V/2010 on the non-cash sale of gold, issued on June 3, 2010.
The DSNMUI declared that gold transactions conducted on a non-cash basis are permissible .
However, relevant hadiths, such as the narration fromUbAdah ibn al-Amit, indicate otherwise.
Imam al-ShawkAn explains that it is impermissible to sell a ribawi commodity for another ribawi commodity except on a spot .
It is also not permissible to conduct such transactions on a deferred payment .
basis, even when the commodities differ in type and measurement.
7 Similarly, in its legal reasoning .
stinbA al-uuk.
, the DSN-MUI relies on hadiths that, in almost all cases, prohibit non-cash transactions of gold.
The permissibility of such transactions is instead based on the opinions of a minority of In contrast, the majority of scholars strictly forbid the non-cash sale of gold because gold is classified as a ribawi commodity.
Threshold Model,Ay Economic Modelling https://doi.
org/https://doi.
org/10.
1016/j.
806Ae19.
Asep Risman et al.
AuIslamic Perspective of Gold-Based Investment: The Case of Indonesia,Ay Tazkia Islamic Finance and Business Review 18, no.
: 1Ae17, https://doi.
org/10.
30993/tifbr.
Kementrian Agama RI.
Al-Quran Dan Tafsirnya.
Jilid 2 (Jakarta: Widya Cahaya, 2.
, 154.
Muhammad Faqih Abdillah.
AuBuying And Selling Gold In A Non-Cash Perspective On Sharia (Analytic Study On Fatwa Of The National Sharia Council Number 77 Of 2.
,Ay Al-Arfa: Journal of Sharia.
Islamic Economics and Law 1, no.
https://doi.
org/10.
61166/arfa.
Chairul Afnan.
AuJual Beli Emas Secara Tidak Tunai (Kajian Terhadap Fatwa DSN MUI NOMOR 77/DSN-MUI/V/2.
Ay (Yogyakarta: UIN Sunan Kalijaga Yogyakarta, 2.
TADAYUN
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6 No.
July-December 2025 | 129 In Indonesia, these principles are institutionalized through the regulatory framework issued by the National Sharia Council of the Indonesian Ulema Council (DSN-MUI).
Responding to the high public demand for gold ownership amid limited cash liquidity, the DSN-MUI issued Fatwa No.
77/DSN-MUI/V/2010 on the Non-Cash Sale of Gold.
9 This fatwa constitutes a legal breakthrough that permits gold installment schemes, provided the selling price .
is determined at the outset of the contract.
It may not increase during the contractual period, even if a payment extension occurs.
This provision reflects classical jurisprudence on ribawi commodities, in which scholars maintain that deferred exchanges of gold risk falling into riba al-nasAoah if the price fluctuates or additional charges are imposed beyond the agreed Despite these regulations, compliance challenges persist at the operational level.
Pegadaian Syariah, as a major non-bank financial institution offering the AuCicil EmasAy (Gold Installmen.
product, faces business risks associated with customer default.
At the Pegadaian Syariah Bengkulu, delays in installment payments are addressed through a financial penalty policy.
According to recent field data, the branch implements a progressive late payment charge mechanism: customers are charged 1% for a 7-day delay, 2% for a 14-day delay, and up to 4% for a 1month delay.
Pegadaian may issue up to three warning letters within 7 If these warnings are ignored, the institution proceeds with enforcement through a forced sale or auction.
The fundamental legal issue in this study lies in the structure of the imposed penalties.
Although the DSN-MUI, through Fatwa No.
17/DSNMUI/IX/2000, permits the imposition of sanctions .
on capable customers who intentionally delay payment,11 Penalties calculated as Fanisa Meilianingsih.
AuImplementasi Fatwa Nomor 77/DSN-MUI/V/2010 Tentang Jual Beli Emas Secara Tidak Tunai Pada Produk Cicil Emas BSI KC.
Pekalongan PemudaAy (UIN KH Abdurrahman Wahid Pekalongan, 2.
Fithri Nurfauziyyah.
Rio Erismen Armen, and Adril Hakim.
AuAnalisis Hukum Islam Terhadap Jual Beli Emas Secara Tidak Tunai,Ay Jurnal Zhafir Vol.
2, no.
No.
15Ae32.
Muhammad Hanafiah and Anwar Hafidzi.
AuTaAozir Concept in Sharia Banking (Analysis of Fatwa DSN MUI Number: 17/DSN- MUI/IX/2.
,Ay Perisai : Islamic Banking and Finance Journal 5, no.
: 1Ae15, https://doi.
org/10.
21070/perisai.
130 | Vol.
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time-based percentages .
anging from 1% to 4%) substantially resemble a Aucost of timeAy or time value of money.
12 This practice creates a normative tension: are these progressive penalties merely administrative sanctions designed to promote discipline, or have they become a form of concealed price increment .
iyAda.
that violates the fixed-price requirement of Fatwa No.
77/2010?
Several previous studies have examined gold installment products within Islamic financial institutions.
Research on non-cash gold sales and the implementation of DSN-MUI Fatwa No.
77/2010 generally focuses on issues of jurisprudential validity,13 installment practices at Pegadaian,14 payment and interest systems in pawn schemes,15 analyses of nonphysical gold transactions and savings,16 the implementation of murAbauah contracts in gold installments,17 comparisons of online gold investment platforms,18 reviews of Sharia-compliant gold investment Mohammad Faizal Eka Santosa et al.
AuTime Value of Money Dalam Kacamata Konvensional Dan SyariAoah,Ay Prosiding National Seminar on Accounting.
Finance, and Economics (NSAFE) .
275Ae80, http://conference.
id/index.
php/nsafe/article/view/3745.
Syahidta sukma Wijayanti.
AuJUAL BELI EMAS SECARA TIDAK TUNAI : Kajian Terhadap Fatwa DSN-MUI No.
77/DSN-MUI/V/2010,Ay Jurnal Baabu Al-Ilmi Vol.
2, no.
Ariful Mufti.
AuPraktik Investasi Emas Secara Angsuran Di PT.
Pegadaian,Ay Az ZarqaAo Jurnal Hukum Bisnis Islam 12, no.
Risyad Arhamullah Nadialista Kurniawan.
AuSistem Pelayanan Cicilan Emas Pada PT.
Pegadaian (Perser.
Unit Lodoyo Blitar,Ay Industry and Higher Education 3, no.
I Nainggolan.
AuPenerapan Sistem Pembayaran Dan Bunga Terhadap Objek Gadai Di Pegadaian,Ay Jurnal Pencerah Bangsa 3 .
Seroja Seroja and Muhammad Iqbal.
AuTRANSAKSI PEMBELIAN EMAS NON RIIL DI PT.
PEGADAIAN SYARIAH KCP.
DARUSSALAM DALAM PERSPEKTIF AKAD BAAoI ALMUQAYYAD (Studi Tentang Cicilan Emas Dan Konsekuensinya Pada Tabungan Ema.
,Ay Dusturiyah: Jurnal Hukum Islam.
Perundang-Undangan Dan Pranata Sosial 10, no.
https://doi.
org/10.
22373/dusturiyah.
Annas Syams Rizal Fahmi et al.
AuImplementasi Fatwa Dsn-Mui No: 77/DsnMui/V/2010 Terhadap Akad Murabahah Pada Produk Cicil Emas Di Bank Syariah Mandiri,Ay Al-Mizan: Jurnal Hukum Dan Ekonomi Islam 4, no.
https://doi.
org/10.
33511/almizan.
Pipi Sopiah and Diah Siti SadiAoah.
AuINVESTASI EMAS ONLINE DI APLIKASI SHOPEE DAN PT.
PEGADAIAN DALAM PERSPEKTIF FATWA DSN-MUI NOMOR 77/DSNMUI/V/2010 TENTANG JUAL BELI EMAS SECARA TIDAK TUNAI,Ay Al-Muamalat: Jurnal Ekonomi Syariah 8, no.
, https://doi.
org/10.
15575/am.
Dede Al
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6 No.
July-December 2025 | 131 from a macro perspective,19 and operational practices at Pegadaian Syariah based on DSN-MUI fatwas.
20 However, the existing literature has significant limitations: most studies focus on operational procedures or customer satisfaction, and none have thoroughly analyzed the specific conflict between progressive penalty schemes and the fixed-price clause in gold installment products.
This gap underscores the urgency of the present research, given that the legal validity of thousands of customer contracts hinges on the clarity of the penaltyAos status.
This study aims to address this gap by examining the conformity of progressive additional charges .
applied in the Gold Installment product at Pegadaian Syariah Bengkulu with DSN-MUI Fatwa No.
77/DSN-MUI/V/2010.
Theoretically, this study is expected to enrich the literature on Islamic economic law, particularly in discussions concerning the boundaries between taws .
, tazr .
, and riba in transactions involving ribawi commodities.
In practice, the findings provide critical insights for Pegadaian Syariah to evaluate its penalty policies, ensuring alignment with Sharia principles, and serve as a reference for regulators overseeing Sharia compliance in gold financing products in Indonesia.
METHOD
This study employs an empirical legal research.
This approach was selected to analyze the operation of law within society, specifically by examining the gap between Islamic legal norms (DSN-MUI Fatw.
and operational practices in the field.
The research is descriptive-analytical, aiming to systematically describe the late-payment penalty mechanism in gold installment products and subsequently analyze its validity in accordance with Sharia principles.
The research was conducted at Pegadaian Syariah Bengkulu from March 8 to March 10, 2025.
This site was selected based on the urgency of Mustaqim.
AuAnalysis of Non-Cash Gold Trading Practices in Indonesia Based on Fatwa DSN-MUI No.
77/DSN-MUI/V/2010,Ay Al-Wajih: The Journal of Islamic Studies 1, no.
Risman et al.
AuIslamic Perspective of Gold-Based Investment: The Case of Indonesia.
Ay Yuyun Juwita Lestari and Iza Hanifuddin.
AuKetentuan Pegadaian Syariah Berdasarkan Fatwa Dewan Syariah Nasional Majelis Ulama Indonesia,Ay Tadayun: Jurnal Hukum Ekonomi Syariah 2, no.
, https://doi.
org/10.
24239/tadayun.
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the issue, as the branch actively implements gold installment schemes with a progressive penalty mechanism, which aligns with the study's The research subjects were employees of the Pegadaian Syariah service unit who have direct authority and knowledge of installment procedures and the handling of customer defaults.
Data sources in this study are categorized into primary and secondary data.
Primary data were obtained through semi-structured indepth interviews with key informants and field observations of transaction flows and penalty warning documents.
Secondary data were collected through library research, encompassing DSN-MUI Fatwas, reference books, reputable academic journals, and Standard Operating Procedure (SOP) documents.
Data analysis was conducted in three stages: data reduction, data display, and conclusion drawing.
Within the juridical analysis framework, field data regarding penalty percentages .
4%) were critically compared with the normative provisions of DSN-MUI Fatwa No.
77/DSNMUI/V/2010.
To ensure research ethics, the researchers applied the principle of informed consent by explaining the study's purpose to participants and maintaining the confidentiality of informant identities.
RESULTS AND DISCUSSION
General Overview of DSN-MUI Fatwa No.
77/DSN-MUI/V/2010
on the Non-Cash Sale of Gold In line with the development of Islamic financial institutions in Indonesia, the number of Sharia Supervisory Boards established within and overseeing these institutions has also increased.
The proliferation and diversity of Sharia Supervisory Boards within each Islamic financial institution are to be appreciated, yet they also call for caution.
Such caution is necessary because differing fatwas issued by the boards could lead to confusion among the Muslim community and customers.
Therefore, the Indonesian Ulema Council (MUI), as the umbrella organization for Islamic institutions and organizations in the country, deemed it necessary to establish a single national sharia board with comprehensive authority over all financial institutions, including Islamic This body later became known as the National Sharia Council (DSN).
SyafiAoi Antonio.
Bank Syariah Teori Dan Praktek.
Jakarta: Gema Insani (Jakarta:
Gema Insani Press, 2.
, 32.
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Vol.
6 No.
July-December 2025 | 133 Regarding trade issues, particularly currency exchange, the Fatwa Commission of the National Sharia Council of the Indonesian Ulema Council (DSN-MUI), after careful consideration from various perspectives, issued a fatwa permitting the sale of gold without cash.
This ruling was formalized in Fatwa No.
77/DSN-MUI/V/2010 on the Permissibility of the Non-Cash Sale of Gold.
Given that gold trading transactions in contemporary society are often conducted through non-cash payment methods, either by installments .
or deferred payment .
, such practices have given rise to differing opinions among Muslims.
Some scholars permit these transactions, while others prohibit them.
The scholarly opinions can be outlined as follows:23 Syaikh AoAli JumuAoah, mufti al-Diyar al-Mishriyah, al-Kalim al-Thayyib Fatawa AoAshriyah.
"It is permissible to trade gold and silver that have been manufactured or prepared for manufacturing on an installment basis, given that both are no longer treated as mediums of exchange in society and have become commodities .
ilAoa.
like other goods that may be sold either through spot or deferred payment.
Neither of them bears the form of dinar or dirham, for which immediate payment and hand-to-hand exchange are required, as stated in the hadith narrated by Ab Sad al-Khudr, in which the Messenger of Allah .
eace be upon hi.
said: AoDo not sell gold for gold except in equal measure, and do not sell deferred gold for immediate gold.
Ao (HR al-BukhA.
Prof.
Dr.
Wahbah al-Zuhaily dalam al-MuAoamalat al-Maliyah alMuAoashirah: Similarly, purchasing jewelry from a craftsman on an installment basis is impermissible, as no payment is made at the time of the transaction.
It is also invalid to acquire it through a debt arrangement with the craftsman.
Ay Syekh Abdullah bin Sulaiman al-ManiAo In Buuth f al-IqtiAd al-IslAm, it is stated that the status of gold and silver is predominantly as thaman .
medium of exchange or mone.
, and the textual sources clearly classify both as ribawi assets.
Consequently, their exchange requires equivalence in measure and immediate hand-to-hand Dewan Syariah Nasional-Majelis Ulama Indonesia.
AuFatwa Nomor: 77/DSNMUI/V/2010 Tentang Jual Beli Emas Secara Tidak TunaiAy .
Dewan Syariah Nasional-Majelis Ulama Indonesia.
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delivery during the contract session, provided they are of the same The same rule of immediate delivery applies when one is exchanged for the other .
, gold for silve.
However, once gold or silver has been transformed into jewelry, it no longer functions as thaman .
oney or pric.
In such cases, an excess in exchange between similar types .
or example, gold for gold that has been crafted into jewelr.
is permissible.
Still, payment deferral remains prohibited, as previously explained.
Dr.
Khalid Mushlih In ukm Bayal-Dhahab bi al-Nuqd bi al-Taqs, scholars generally hold two differing opinions regarding the sale of gold with paper money on an installment basis:
The first opinion, which represents the majority of scholars, holds that the practice is prohibited .
Their arguments .
vary, but the most prominent reasoning is that both paper money and gold function as thaman .
medium of exchange or currenc.
As such, thaman may only be exchanged on a spot basis .
, not through deferment.
This view is grounded in the uadth of UbAdah ibn al-Amit, in which the Prophet .
eace be upon hi.
said: AuIf these kinds .
f ribawi item.
differ, then sell as you wish, provided that it is on the spot.
The second opinion holds that the sale of gold by installment is This view is supported by several contemporary jurists .
uqahAA.
, among whom the most notable is Shaykh Abd alRaumAn al-Sad.
Although these scholars differ in their reasoning .
, their primary argument relies on the opinions of Shaykh al-IslAm Ibn Taymiyyah and Ibn al-Qayyim on the permissibility of selling jewelry .
ade of gol.
for gold with deferred payment.
his work al-IkhtiyArAt.
Ibn Taymiyyah states: AuIt is permissible to sell jewelry made of gold and silver with its kind, without the condition of equal weight .
amAthu.
The excess is considered compensation for the craftsmanship, whether the sale is conducted on a cash basis or deferred, provided that the jewelry is not intended to serve as currency .
Ay AuJewelry .
ade of gold or silve.
that is permissible due to its lawful transformation into adornment has, by virtue of its craftsmanship, changed its legal status to that of clothing .
TADAYUN Vol.
6 No.
July-December 2025 | 135 and commodity .
, and is no longer regarded as currency .
Therefore, zakAt is not obligatory upon such jewelry, and the rules of ribA .
do not apply in its exchange or sale with money, just as ribA does not apply in transactions between money and other types of goods, even if they are not of the same This is because, through its transformation, the jewelry has departed from its original purpose as currency and is instead intended for trade and use.
Consequently, there is no prohibition in selling gold jewelry for the same kind .
Ay Shaykh AoAbd al-Hamid Shawqi al-Jibali, in his work BaiAo al-Dhahab bi alTaqs, explains that about the ruling on the installment-based sale of gold, scholars differ in their opinions as follows:
Prohibition.
This represents the majority view of the fuqaha from the Hanafi.
Maliki.
ShafiAoi, and Hanbali schools.
They base their position on the generality of the hadiths concerning riba, among which explicitly state: AuDo not sell gold for gold, nor silver for silver, except on a spot .
Ay They argue that gold and silver are classified as thaman .
urrency, medium of exchange, mone.
, which must not be exchanged through deferred payment or installments, as such practices constitute riba.
Permission.
This is the opinion of Ibn Taymiyyah.
Ibn al-Qayyim, and several contemporary scholars, each of whom explains their They contend that when gold takes the form of crafted jewelry or other commodities, its function shifts from that of thaman .
to that of an ordinary tradable good .
ilAoa.
Accordingly, it may be sold on an installment basis without contravening the prohibition on riba.
Meanwhile, scholars who permit the practice put forward the following arguments:24 Gold and silver are considered commodities .
ilAoa.
that can be bought and sold like any other goods.
They are no longer to be regarded as thaman .
urrency, medium of exchange, or mone.
Human necessity requires the possibility of conducting gold Should the installment sale of gold be prohibited.
Dewan Syariah Nasional-Majelis Ulama Indonesia.
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public interest .
would be undermined, and people would inevitably face hardship.
Once gold and silver are crafted into jewelry, their status transforms into that of apparel or ordinary merchandise, rather than thaman .
Consequently, no riba occurs in the exchange or sale between jewelry and money, just as riba does not apply between cash and other commodities, even when they are of different kinds.
If the avenue of installment-based gold sales were closed, it would likewise restrict avenues of credit and debt transactions, thereby imposing significant hardship upon society.
Based on a comprehensive examination of the QurAoan.
Hadith, and the opinions of several scholars, the National Sharia Council of the Indonesian Ulema Council (DSN-MUI) formulated a fatwa concerning the installment sale of gold.
First, the ruling on the sale of gold on a non-cash basis, whether through ordinary sale contracts or murAbauah contracts, is permissible .
ubAu, jAAoi.
, provided that gold is no longer recognized as an official medium of exchange .
Second, the selling price .
must remain fixed throughout the agreed contract period, including any extension beyond the maturity date.
Gold purchased through a non-cash payment may be pledged as collateral .
However, gold used as collateral, as stipulated, may not be resold or used as the subject matter of another contract that results in the transfer of ownership.
Additional Charges on Late Payment of Gold Installments at Pegadaian Syariah Bengkulu The next step the researcher must undertake, based on findings from interviews, documentation, and literature sourced directly from informants and other relevant references, is to analyze the collected data.
The late payment charge is a penalty imposed on customers who fail to pay their installments on time as agreed.
Pegadaian Syariah is a non-bank financial institution engaged in financial services and sharia-compliant financing activities.
One of its products at the Bengkulu Branch is Cicil Emas (Gold Installment.
Cicil Emas is a financing service that allows customers to purchase gold bars in Meanwhile.
Mulia offers a service for buying gold bars in cash or installments, with a simple process and flexible repayment terms.
TADAYUN
Vol.
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July-December 2025 | 137 The procedure and requirements for gold installment transactions stipulate that customers must provide a down payment and a copy of their identity card (KTP) to apply for Cicil Emas.
Customers then enter into a purchase contract specifying the number of grams of gold to be bought and the repayment period.
Once the contract is finalized, customers receive an installment record book, with the first payment due in the month following the down payment.
The gold is delivered to the customer only after the installment payments have been fully settled.
The contracts applicable to gold trading transactions on a non-cash basis at the Pegadaian Syariah Bengkulu are the murAbauah and rahn However, these contracts are not combined.
instead, they stand as separate agreements.
Thus, in the case of gold purchases on credit with Pegadaian Syariah, no combination of contracts is involved.
Customers purchase goods under a deferred payment system.
Pegadaian purchases the goods required by the customer in its own name.
At the same time.
Pegadaian sells the goods to the customer at the original cost plus a predetermined profit margin, payable by the customer within a specified period.
Subsequently, the gold is pledged as collateral for the repayment of the remaining installments owed to Pegadaian Syariah.
Once all installments have been fully paid, the gold bullion, along with its documentation, is handed over to the customer.
In contracts applied at Pegadaian Syariah, the non-cash gold trading transaction initially employs a murAbauah contract, or a sale-andpurchase agreement.
After the sale and purchase transaction takes place, if the customer chooses to make payments in installments, the transaction shifts to a rahn .
When the customer provides a down payment to Pegadaian Syariah, a murAbauah contract is concluded.
However, since the payment is made in installments.
Pegadaian Syariah first purchases the gold desired by the customer and retains it as collateral under a rahn contract.
Once the installments are fully paid, the gold is delivered to the customer.
Interview with Indri Yani Rahayu (PT.
Pegadaian Syariah Cabang Bengkulu.
March 8, 2.
Interview with Indri Yani Rahayu (PT.
Pegadaian Syariah Cabang Bengkulu.
March 8, 2.
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Thus, in this context, there is no simultaneous application of two instead, the murAbauah and rahn contracts are applied sequentially and separately.
Figure 1 Financing Flow of Gold Installment Scheme The Pegadaian Supplier Description:
The customer enters into a sales contract with Pegadaian, acting as the seller, while the customer, as the buyer, engages in Pegadaian purchases the goods from the supplier according to the customerAos order.
The supplier delivers the goods to Pegadaian.
Pegadaian hands over the ordered goods to the customer once the payment has been fully settled The installment based gold trading conducted between Pegadaian Syariah Bengkulu, and its customers gives rise to an obligation to make monthly installment payments.
These payments are structured on a flat basis, meaning the installment amount remains constant each month, with no increases or decreases, even when market gold prices fluctuate.
Cultural factors, such as a lack of discipline in meeting time commitments and a consumerist lifestyle, contribute to customer delays in installment payments.
When customers fail to meet their obligations punctually, they are subject to late payment charges or penalties.
According to the prevailing regulations, if a customer is found to be negligentAiwhether intentionally or unintentionallyAiin fulfilling their Interview with Indri Yani Rahayu (PT.
Pegadaian Syariah Cabang Bengkulu.
March 8, 2.
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July-December 2025 | 139 obligations to Pegadaian Syariah, the following fines are imposed: 28 A 1% penalty for late payments of up to 7 .
A 2% penalty for late payments of up to 14 .
A 4% penalty for late payments of up to 1 .
For instance.
Tiyas is required to pay a monthly installment of IDR 1,000,000 to Pegadaian Syariah.
However.
Tiyas was late in making installment payments for three consecutive months (January.
February, and Marc.
Consequently, with a maximum penalty of 4%, the monthly amount payable is IDR 1,040,000.
Thus, for January, the total is IDR 1,040,000.
for February.
IDR 1,040,000.
and for March.
IDR 1,040,000.
The overall amount that Tiyas must pay, including penalties, is therefore IDR 3,120,000.
The penalty imposed by Pegadaian Syariah aims to discipline customers and encourage timely installment payments.
Importantly, the penalty is not treated as profit for Pegadaian Syariah.
Instead, the collected funds are set aside and later distributed to the needy, orphanages, and other charitable institutions.
This allocation is carried out within the framework of Corporate Social Responsibility (CSR), which represents the companyAos responsibility toward the social and environmental context in which it operates.
In practice, if a customer defaults on three consecutive installments.
Pegadaian will issue three consecutive warning letters, each issued within a seven-day interval.
Should the customer fail to comply after these warnings.
Pegadaian will proceed with execution through a forced sale or The proceeds from the auction are then allocated to cover the outstanding installments.
If there remains a surplus after settlement, the remaining funds will be returned to the customer.
Ay30 For instance.
Tiyas obtained an installment financing facility for gold at Pegadaian Syariah Bengkulu, amounting to IDR 5.
However, midway through the installment period.
Tiyas was unable to Interview with Indri Yani Rahayu (PT.
Pegadaian Syariah Cabang Bengkulu.
March 8, 2.
Interview with Indri Yani Rahayu (PT.
Pegadaian Syariah Cabang Bengkulu.
June 17, 2.
Interview with Indri Yani Rahayu (PT.
Pegadaian Syariah Cabang Bengkulu.
March 8, 2.
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continue making payments and had paid only IDR 2.
Consequently.
Pegadaian Syariah Bengkulu would sell the gold.
If the gold were sold for IDR 5.
000, the remaining debt of IDR 3.
000 would be deducted to cover the outstanding installments, while the remaining IDR 000 would be returned to the customer.
Based on interviews with the Pegadaian Syariah Bengkulu, it can be concluded that if a customer is found negligent, intentionally commits an act, or fails to fulfill their obligations to Pegadaian, they will be subject to penalty fees.
The additional charges imposed include 1% for late installment payments of up to 7 days, 2% for delays of up to 14 days, and 4% for delays of 1 month or more.
These penalties are paid at the same time as the installment payment.
Additional Charges on Late Payments of Gold Installments at Pegadaian Syariah Bengkulu: Analysis of DSN-MUI Fatwa No.
77/DSN-MUI/V/2010 on Non-Cash Sale of Gold Regarding trade, particularly currency trading, the Fatwa Commission of the National Sharia Council of the Indonesian Ulema Council (DSN-MUI), after careful consideration from various perspectives, issued a fatwa permitting the non-cash sale and purchase of gold.
This ruling is articulated in Fatwa Number 77/DSN-MUI/V/2010 concerning the permissibility of non-cash sale of gold.
The National Sharia Board of the Indonesian Ulema Council (DSNMUI) considers the following:
That gold trading transactions conducted by the public today are often carried out through non-cash payments, either in installments .
or deferred payments .
aAoji.
That such non-cash gold trading transactions give rise to differences of opinion among Muslims, between those who permit and those who do not allow them.
Based on the considerations mentioned in points .
above, the DSN-MUI deems it necessary to issue a fatwa regarding noncash gold trading transactions to serve as a guiding reference.
Dewan Syariah Nasional-Majelis Ulama Indonesia.
Fatwa Nomor: 77/DSNMUI/V/2010 tentang Jual Beli Emas Secara Tidak Tunai.
Dewan Syariah Nasional-Majelis Ulama Indonesia.
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July-December 2025 | 141 Based on these considerations, the Indonesian Ulema Council (MUI) conducted an in-depth analysis of the practice of non-cash gold trading.
In this analysis, the MUI considered various sources, including the QurAoan.
Hadith, principles of usul al-fiqh, fiqh rules, and the opinions of scholars and meeting participants.
From this thorough consideration, it was concluded that the law regarding non-cash gold trading whether through a standard sales contract or a murAbauah contract is permissible .
ubah or jAAoi.
, provided that the gold does not serve as an official medium of exchange .
The following limitations and provisions accompany the permissibility of conducting non-cash gold transactions:
The sale price .
shall not increase during the term of the agreement, even if an extension is granted after the due date.
Gold purchased through non-cash payment may be used as collateral .
Gold used as collateral, as referred to in point b, shall not be sold or used as the subject of another contract that results in the transfer of In the DSN-MUI Fatwa No.
77/DSN-MUI/V/2010 concerning noncash gold transactions, the term Aunon-cashAy refers to gold sales that are not fully paid at the time of the contract.
This means that payments are made on a deferred basis or in installments over a specified period.
As a Sharia based financial institution.
Pegadaian Syariah adheres not only to the QurAoan and Hadith but also to the provisions stipulated by the Indonesian Ulema Council (MUI) in each fatwa issued.
One such implementation is non-cash gold installment sales, which are among Pegadaian SyariahAos financial products.
Regarding the sale price of gold purchased on credit, the initial cost is determined by the Pegadaian Syariah Bengkulu, along with the monthly installment amount the customer must pay.
The installment amount remains fixed each month, regardless of fluctuations in gold prices.
Anang Adha Mukhti.
AuAnalisis Kesesuaian Jual Beli Emas Secara Tidak Tunai Dengan Fatwa Jual Beli Emas Fatwa DSN-MUI No.
77/DSN-MUI/V/2010Ay (Fakultas Syariah dan Hukum UIN Syarif Hidayatullah Jakarta, 2.
, 54.
Dewan Syariah Nasional-Majelis Ulama Indonesia.
Fatwa Nomor: 77/DSNMUI/V/2010 tentang Jual Beli Emas Secara Tidak Tunai.
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Payment of installments is based on the initial agreement between the customer and Pegadaian Syariah Bengkulu.
However, upon the due date, if the customer delays the payment of installments beyond the agreed date.
Pegadaian Syariah Bengkulu applies a penalty system, with a maximum fine of 4% of the monthly installment.
According to Indri Yani Rahayu (Pegadaian Staf.
, the penalty structure is as follows of Customers will be charged a 1% fine if installments are delayed for up to 7 days, 2% for up to 14 days, and 4% for one month.
For instance.
Tiyas has a monthly installment of IDR 1,000,000 to Pegadaian Syariah, and she delays her payments for three months (January.
February, and Marc.
Consequently, the installment amount, including the penalty, that Tiyas must pay to the Pegadaian Syariah Bengkulu, with a maximum fine of 4%, is IDR 1.
000 for the first month (Januar.
IDR 1.
000 for the second month (Februar.
, and IDR 000 for the third month (Marc.
Thus, the total amount that Tiyas must pay, including penalties, is IDR 3.
The penalty mechanism is primarily designed as a disciplinary measure .
a'zi.
to mitigate default risks by Pegadaian Syariah aim to encourage customers to make timely installment payments.
These fines are not considered profits for the institution.
instead, the funds are allocated and donated to underprivileged communities, orphanages, and other social foundations as part of the companyAos Corporate Social Responsibility (CSR) program, reflecting the companyAos commitment to social and environmental welfare.
According to DSN-MUI Fatwa No.
77/DSN-MUI/V/2010, the first point states that the selling price .
must not increase during the contract period, even if there is an extension after the due date.
However, in practice, if a customer delays payment, they are required to pay a penalty or additional fee of up to 4% per month.
This measure is applied due to the customerAos own negligence in failing to pay the installments on Interview with Indri Yani Rahayu (PT.
Pegadaian Syariah Cabang Bengkulu.
March 8, 2.
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July-December 2025 | 143 In the Al-Qur'an surah al-Baqarah verse 279 which reads:
a a a a a a a a aa a aa a a a a a a a ca a ca AaEI E E aaIOI aOEA AOEan auaOI I AEEI O IOEA a AAuaI EI A aEO AIO aa I aaI cEEa aO a aA a a a AE aIOIA This verse explicitly underscores the severity of the prohibition against usury .
in Islamic jurisprudence.
This indicates the gravity of the sin of riba and the severe harm it causes.
36 However, the National Sharia Council (DSN-MUI) has also issued a related fatwa regarding the permissibility of imposing penalties.
This is stipulated in DSN-MUI Fatwa No.
17/DSN-MUI/IX/2000, which concerns sanctions for customers who are capable but delay payment.
The conditions and provisions are intended to encourage disciplined fulfillment of obligations, and the funds collected from such penalties are designated for social purposes.
The authorAos analysis concerning additional charges on installment based gold transactions at Pegadaian Syariah Bengkulu, when examined in relation to DSN-MUI Fatwa No.
77/DSN-MUI/V/2010 on non-cash gold sales, highlights the following stipulations and conditions:
The selling price .
must not increase during the contract period, even if an extension is granted after the due date.
Gold purchased through non-cash payments may be used as collateral .
Gold used as collateral, as specified in point 2, must not be sold or employed in any other contract that results in the transfer of Regarding the first point of the fatwa, it states that the selling price .
must not increase during the contract period, even if an extension is granted after the due date.
In practice, however.
Pegadaian Syariah Bengkulu imposes a penalty for delayed gold installment payments, known as taAowidh.
TaAowidh refers to compensation fees charged Ashfaq Ahmad and Asad Afzal Humayoun.
AuIslamic Banking and Prohibition of Riba/Interest,Ay African Journal of Business Management 5, no.
: 1763.
Dewan Syariah Nasional-Majelis Ulama Indonesia.
AuFatwa DSN-MUI No.
17/DSN-MUI/IX/2000 Tentang Sanksi Atas Nasabah Mampu Yang Menunda-Nunda PembayaranAy .
Dewan Syariah Nasional-Majelis Ulama Indonesia.
Fatwa Nomor: 77/DSNMUI/V/2010 tentang Jual Beli Emas Secara Tidak Tunai.
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to customers in the event of a breach of contract, such as late installment payments after the due date.
If a customer is found negligent, deliberate, or fails to fulfill their obligations to Pegadaian, a penalty is applied.
The penalties are 1% for delays of up to 7 days, 2% for delays up to 14 days, and 4% for delays of up to one month.
The authors argue that this practice presents a compliance discrepancy with the limitations and provisions stipulated in DSN-MUI Fatwa No.
77/DSN-MUI/V/2010, which explicitly states that the selling price .
must not increase during the contract period, even with an extension beyond the due date.
Concerning points 2 and 3, the fatwa permits gold purchased through non-cash payments to be used as collateral .
It stipulates that such collateral must not be sold or used in any other contract that causes a transfer of ownership.
At Pegadaian Syariah Bengkulu, gold purchased on a non-cash basis is indeed used as collateral until the installments are fully paid and is not pledged for other contracts that would result in a transfer of ownership.
According to the author, this practice complies with points 2 and 3 of DSN-MUI Fatwa No.
77/DSNMUI/V/2010.
Based on the analysis conducted, it can be concluded that the implementation of additional charges for late payment gold installment at Pegadaian Syariah Bengkulu, in relation to DSN-MUI Fatwa No.
77/DSNMUI/V/2010 on non-cash gold sales, has not fully adhered to the provisions of the fatwa, particularly regarding the first point.
CONCLUSION
This study concludes that the late payment charges applied to gold installment schemes at Pegadaian Syariah Bengkulu are implemented as a progressive penalty mechanism, ranging from 1% to 4% depending on the duration of the arrears.
While this practice effectively serves as a deterrent (Ta'zi.
to maintain payment discipline aligning with the spirit of DSN-MUI Fatwa No.
17/DSN-MUI/IX/2000 the calculation method based on percentage and time creates a compliance gap regarding the fixed-price principle mandated in DSN-MUI Fatwa No.
77/DSNMUI/V/2010.
The progressive nature of the fee inevitably resembles the concept of the time value of money, which creates ambiguity in its Sharia
Therefore, this study recommends that Pegadaian Syariah
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July-December 2025 | 145 harmonize its operational regulations by transitioning from a progressive percentage model to a fixed nominal administrative fee.
This adjustment would eliminate the resemblance to interest-based penalties while maintaining the necessary disciplinary measures for negligent customers.
REFERENCES