Application of the Ijarah Contract on Educational Financing through Empowerment of Laboratory of Mini Sharia Bank in Higher Education

摘要

The focus of this study is aimed to find out the application of the educational funding Ijarah contract to student at Baytul Mal wat-Tamwil (BMT) as empowerment of Islamic mini bank laboratory in Higher Education. This research used descriptive qualitative methods by conducting interview, observation, and documentation. The results of the study indicate that the Ijarah contract is only applied to private universities. The students applying for educational funding must complete with a certificate from their Lecturer, Deputy Dean II and parents. The laboratory of Sharia Mini Bank analyzed the feasibility of educational funds submitted by students using the 5C principle (Capital, Collateral, Capacity, Character, and Condition). The application of the Ijarah contract by BMT University is permisible because BMT acts as renter as well as a renter to student at a new price (al-Ijarah al-Muwazi) or BMT is the liaison that takes care of the payment of student lectures. The benefits of BMT are obtained from the difference in rental prices or services for managing tuition fees (the Ijarah bil-Wakalah). The application of the ijarah contract in term financing of education through Universities. BMT has provided mutually beneficial solutions for students, Universities and BMT.