ECONOMIC TRANSACTIONS IN ISLAMIC FINANCIAL INSTITUTIONS: Analysis of Fiqh Rules, Opportunities, and Challenges in The Era Of Globalization

: The presence of fiqh rules is a solution in responding to problems related to the determination of Islamic law in facing the realities of today. Especially, in the context of transactions in Islamic financial institutions, fiqh rules play an important role in determining the law in accordance with the teachings of the Qur'an, Hadith, and Ijma. The rules of fiqh are present with the main purpose of determining Islamic law in the face of new challenges that continue to develop along with the changing times, especially in the context of economic transactions or muamalah maliyah which continues to grow in Islamic financial institutions. The rules of fiqh are the result of ijtihad and are a generalization of various fiqh themes that have spread among the scholars of the madhhab. The presence of these rules is very important to provide a framework that makes it easy to determine contemporary laws, especially related to economic issues that often do not have nash sharîh (definite evidence) in the Qur'an or Hadith. Thus, the rules of fiqh become a much-needed instrument in providing understanding and resolution of legal issues that arise in the context of modern economics, especially in Islamic financial institutions

The application of fiqh rules in economic transactions in Islamic financial institutions has a significant impact not only on the economic aspect, but also on the social and moral aspects of society.Through this study, it will be carefully elaborated on how fiqh principles are applied and implemented in various types of economic transactions in Islamic financial institutions.
This study aims to further explore the fiqh concepts that form the basis for the Islamic financial system, as well as analyze how these fiqh principles are reflected in policies, practices, and economic transactions in Islamic financial institutions.
In addition, this research will also identify the impact of the application of these fiqh rules on sustainability and justice in the context of Islamic economics.(Irwandi, 2022;Suryaman & Bisri, 2023).

RESULTS AND DISCUSSION
Fiqh rules are legal interpretations that detail the limitations derived from the Qur'an, Hadith, and Ushul fiqh with accuracy, aiming to provide solutions to various problems that may arise, as well as providing alternatives to differences of opinion among scholars regarding the assessment of a matter.In the context of planning in Islamic banks, issues that arise, both related to contracts and other aspects, often require clear and precise guidelines, and therefore, fiqh rules become a very important guide.(Srisusilawati & Eprianti, 2017;Syaripudin et al., 2023).
In Islam, the implementation of transactions in Islamic financial institutions always emphasizes sharia principles, where every transaction is carried out without coercion and involves freedom and willingness of all parties involved in the contract or agreement.Islamic financial institutions explain in detail the provisions and procedures that must be followed by customers, so that no information is hidden from both parties to the transaction.In the practice of contracts in Islamic financial institutions, for example, there are mudharah contracts and musyarakah contracts.
Islamic financial institutions, in carrying out transactions, are subject to applicable sharia provisions, and will ask permission from the object owner if they want to use someone else's ownership.
Efforts to attract customers are also made through the strategy of giving gifts if customers increase the amount of savings within a certain period of time.In addition, giving a tip to the teller as an expression of satisfaction with the service is also allowed, provided that the initiative comes from the customer's own intention and there is no element of coercion.It is important to note that tipping is optional, so it can be done or not according to the customer's wishes..  (Prawiro, 2022).

Fiqh rules in transactions (
For example, the seller and buyer have executed a sale and purchase contract.
The buyer has received the goods and the seller has received the money.Then both parties cancel the sale.So, the buyer's right to the goods becomes void and the seller's right to the price of the goods becomes void.
This means that the buyer must return the goods and the seller must return the money (the price of the goods).(Aprilia & Sulistyowati, 2022;Wartoyo, 2020).
A contract whose object is a particular object is like a contract for the benefit of that object.
The object of a contract can be a specific item, such as buying and selling, and it can also be the benefit of an item such as renting.Even now, the object can be a service such as brokerage services.
Therefore, the legal effects and contracts whose objects are goods or the benefits of goods are the same, in the sense that the pillars and conditions are the same.For example, in the case of a gold pledge, there is a condition that if the pledged item is not redeemed within a certain number of months, the pledgee has the right to sell it.Or the condition of being able to choose, and so on.

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For example, in the case of a gold pawn, there is a condition that if the pawned item is not redeemed within a certain number of months, the pawnbroker has the right to sell it.Or the condition of being allowed to choose, and so on.
does not fulfill the conditions or the pillars) does not become valid because it is permissible.
For example, a Muslim who is committed to sharia economic behavior conducts financial transactions with financial services that use the interest system.Although the financial service allows and accepts the transaction, the transaction is void.
If a transaction is void, the dictums in the transaction are automatically void.
For example, a person buys a house from its owner.When one of them cancels the transaction, the buyer returns the house and the owner returns the price of the house.
For example, if a person rents a house by taking the benefits of living or occupancy, or buys the house, then the terms and conditions of the transaction will apply equally and must be fulfilled.

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Any condition in a transaction that is aimed at the success and purpose of the transaction is permissible.
For example, in salam sales, if the transaction requires that the purchase funds be deposited with the bank (third party) before the handover of the purchased goods to avoid default of one of the parties, it is permissible.
When there is a conflict between a ruling that prevents and one that requires at the same time, the one that prevents takes precedence.
The The meaning of this rule is that if a person owns a certain object or right, then the object or right remains his as long as there is no other evidence that invalidates his right.For example, there is evidence that he has sold it legally.Even if an item is lost or stolen, it belongs to the owner.This is because he owned it before it was lost.

Financial Institutions
Islamic banking is a business activity that involves banks and customers in the  (Irawan, 2018;Padmadhani, 2022).
Risk goes hand in hand with profit (i.e. the person who benefits from something, at the same time must be willing to make sacrifices if there is a risk from the business that has provided him with profit).For example, if a person rents a truck for transportation of goods, then he overloads the truck with more than the tonnage specified for the truck, causing damage.Then the renter is obliged to repair the truck and still pay the rent.

One of the products of Islamic
Anything that is a means to an action that leads to haraamness is haraam.

Islamic financial institutions
Economic transactions in Islamic financial institutions have several challenges that need to be overcome by paying attention to the rules of fiqh or Islamic law.(Habel, 2023;Jaenudin, 2021).Here are some of these challenges: , and scope of financial activities.In this context, fiqh rules are present as a solution related to the determination of Islamic law in the current situation, especially in Islamic financial institution transactions.In determining the law of its process activities, fiqh rules refer to the Qur'an, Hadith, and Ijma', becoming the basis for Muslims in understanding the intentions of Islamic teachings (maqashid alsyari'ah) more comprehensively.Qawaid Fiqhiyyah is crucial in the understanding of ushul scholars and fuqaha.An understanding of qawaid Fiqhiyyah is needed to conduct ijtihad or renewal of thought in worship, muamalah, and prioritization.There are various fiqh rules that apply in Islamic financial institution transactions, such as fiqh rules in transactions (Aqad), fiqh rules on Islamic financial institutions, and fiqh rules on al-Maal (Wealth Assets).Limas principles according to Dr. Abbas Arfan, as listed in the book 99 muamalah fiqh rules and basic legal theory of muamalah fiqh, always emphasize overall welfare for parties involved in transactions of Islamic financial institutions.These rules also include profit-sharing mechanisms in business, although the practice of earnings management can cause differences in views that require special handling.In this era of globalization, the development of Islamic economics has become a major highlight in the financial realm.One aspect that stands out is the application of fiqh rules in economic transactions, especially in Islamic financial institutions.Islamic financial institutions play an important role in creating a financial ecosystem based on Islamic values, making it the first choice for individuals and . The collection of funds in the form of investments and deposits from public funds using alwaqiah and al-mudharabah contracts is one of the functions of Islamic banks.People who need an injection of funds for business or urgent needs, Islamic banks are present to implement the second function, namely the bank as a distributor of funds.Providing services is the function of Islamic banks related to explaining procedures, policies, product provisions and also in billing, bookkeeping, and product provisions in accordance with the principles of Islamic banking.
financial institutions is Mudha̅ rabah (trust financing/trust investment), which has two interrelated nodes: earning profit through partnership (between the capital The payment of wages and the responsibility to compensate for damages are not mutually exclusive. Qur'an, Al-Hadith, and Ushu fiqh in transactions, fundraising, and other financial services.The presence of this fiqh rule is very necessary to solve problems in a broad scope, even in Islamic financial institutions, especially in earnings management.Either in its application or about rules that are restrictive in halal or not prohibited in its application.Usually in Islamic financial institutions, mudharabah and musyarakah are commonly used contracts for transactions in Islamic banks.The rules of fiqh in the economic field are tasked with justifying and legitimizing all Muslim economic activities in various fields of economic transactions, both those related to mono-contract and multi-contract transactions.Mono-contract or singlecontract transactions such as buying, renting, pawning, and debts in turn, according to the needs of the economic activities of contemporary society, require multi-contract transactions.For example, many people conduct leasing transactions for motor vehicles, housing, electronic goods and others.So the fiqh rules that justify are those related to al-ijarah muntahiyah bi al-tamlîk transactions or better known as IMBT.Likewise, other economic problems in Islamic financial institutions become valid by using qawaidh fiqhiyyah (fiqh rules) or dhawabith fiqhiyyah.