Principle of justice in transaction based on profit and loss sharing

   Justice is one of the goals of every religion in the world, including the Islamic religion which puts justice at a very important place in the life of the nation. According to Ibn Qudamah who is an expert in Hambali school of Islamic Law, justice is something that is hidden, motivated solely due to fear of Allah SWT. Justice is strongly associated with right and obligations. Those rights and obligations are associated with a mandate, while the mandate must be given to those who deserve it.

   The principle of justice requires and teaches four terms in the management of sharia banks which are transparency and honesty, fair transaction, healthy competition and mutually beneficial agreement.

   One of the underlying principles of sharia agreement is the principle of Al-adalah. The implementation of this principle is an agreement or contract requires the parties to do what is right in expressing the will and circumstances, meeting all its obligations. Agreements must always be profitably fair and balanced, and must always be profitably fair and balanced, and must not cause harm to either party.

   For example, in mudharabah investment, the nature and spirit of togetherness and justice will become evident. This is seen through the togetherness in bearing losses in the project and sharing the profits swelling at the time of booming economy.

Reference: article on principle of justice in transaction based on profit and loss sharing in sharia banks by Trisadini Prasastinah Usanti, A.shomad & Ari Kurniawan
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