Maqāṣid Al-Sharīʿah And Information Transparency In Murabaha Financing: A Case Study Of An Islamic Rural Bank In Indonesia

Abstract

This exploratory qualitative single-case study examines how five dimensions of Maqāṣid al-Sharīʿah are reflected in murabaha financing at one Islamic Rural Bank in Indonesia, with particular attention to information transparency. Data were gathered through structured interviews with four purposively selected informants (one financing officer, two murabaha customers, and one Maqāṣid expert), observation, and documents. The evidence provides reported or partial support for protection of religion, life/self, wealth, and family welfare, while the most important qualification concerns protection of intellect (hifẓ al-ʿaql). The financing officer reported detailed disclosure, but customer accounts showed uneven depth of understanding. One customer confirmed that margin and charges were known at the outset while also reporting limited explanation of the contract's meaning and legal basis. The case therefore indicates an information-depth and customer-understanding gap rather than deliberate concealment. Standardized disclosure and comprehension checks are recommended.