Hybrid Sharia Contracts for Economic Justice: A Critical Evaluation of Mudharabah Musytarakah and Murabahah Practices in the Amm Burger & Coffee Business

Amanda Shaafia Malik; Muhammad Hilman Maulana; Lutfhi Helmi; Dwi Aprilianti; Luthfi Faisal Hermawan; Dimas Sulistyo Farras

doi:10.15548/sqf.v10i2.918

Hybrid Sharia Contracts for Economic Justice: A Critical Evaluation of Mudharabah Musytarakah and Murabahah Practices in the Amm Burger & Coffee Business

Amanda Shaafia Malik, Muhammad Hilman Maulana, Lutfhi Helmi, Dwi Aprilianti, Luthfi Faisal Hermawan, Dimas Sulistyo Farras

Abstract

This study examines the implementation of hybrid Islamic finance contracts, Mudharabah, Musytarakah, and Murabahah, in promoting economic justice within the Amm Burger & Coffee MSME business model. Using a mixed-methods approach that integrates surveys, financial documentation, and in-depth interviews, the research evaluates how these multi-contract schemes strengthen capital, distribute risks, and ensure transparency in business operations. The findings indicate that the Mudharabah Musytarakah partnership constitutes a fair and proportional profit-sharing mechanism, consistent with the principles of mutual consent and justice in Islamic commercial law. Loss allocation was carried out appropriately, with capital-contributing partners bearing financial risks in proportion to their investments. At the same time, the manager assumed non-financial responsibilities, including time, effort, and operational accountability. In external transactions, Murabahah agreements with meat and coffee suppliers fully complied with Sharia requirements, including the clarity of cost, profit margin, ownership transfer, and product quality. Although minor discrepancies occurred with the bread supplier regarding product specifications, the issue was resolved through deliberation, demonstrating the effectiveness of sharia-based dispute resolution. Overall, the study concludes that applying Mudharabah Musytarakah and Murabahah contracts simultaneously can achieve a balanced integration of economic, ethical, and legal principles, offering a practical and justice-oriented financing model for MSMEs. This hybrid contract structure has strong potential to serve as a scalable prototype for inclusive Islamic economic development in Indonesia.

Keywords

Mudharabah Musytarakah; Murabahah; Economic Justice.

Full Text:

PDF

References

(OJK), O. J. K. (2024). Sharia Banking Positive Performance in 2024.

Adinda Satria Bagus, D. (2024). Implementation of the Salam Agreement on the Sharia Marketplace. Al-Afkar Journal, 9(2), 70–85.

Al-Khalafi, A. A. bin B. (n.d.). Al-Wajiz Fi Fiqhis Sunnah Wal Kitabil ’Aziz.

Al-Urban. (2017). Pembiayaan Murabahah di Perbankan Syariah. Ekonomi Syariah Dan Filantropi Islam, 212–223.

Annizar, D. (2025). Mudharabah, Musyarakah, Financing Risk, and Performance: Evidence from Indonesian Islamic Banks. Journal of Islamic Economics, 45–58.

Ascarya, A. (2018). Integrated Islamic Commercial and Social Finance for Islamic Banks in Indonesia. Eurasian Economic Review, 100–110.

Ashurov, S. (2025). Summary of the Islamic Finance Development Report 2024.

Aulia, N., & Bagaskara, A. (2024). Implementasi Mudharabah Dalam Pengelolaan UMKM Slow Bar Coffee Jebres. Nuansa Akademik: Jurnal Pembangunan Masyarakat, 9(1), 267–278.

Awibi Nazhicul Amin, Eva Ana Rianti, Pramodya Hanggarany, S. Y. (2023). Wps_Lid.

Bank, W. (n.d.). Boosting SME Finance for Growth, 2023, 10–16.

Bank, W. (2023). Action Plan for Micro, Small, and Medium Enterprise (MSME) Financing. G20 Global Partnership for Financial Inclusion, 15–30.

Batang, P. (2025). Hirarki Maqashid Asy-Syariah dalam Perspektif Imam Al-Ghazali serta Telaah Sistematis dan Filosofis Imam Al-Syathibi.

Creswell, & W J. (n.d.). Research Design: Qualitative, Quantitative, and Mixed Methods Approaches.

El-Gamal, M. A. (2006). Islamic Finance: Law, Economics, and Practice. Cambridge University Press, 150–170.

Fadillah Mursid, Oyo Sunaryo Mukhlas, Isnayati Nur, A. A. H. (2023). Perkembangan Akad Mudharabah Dalam Fiqh Ke Dalam Fatwa Dewan Syariah Nasional Majelis Ulama Indonesia (DSN-MUI). El-Iqthisadi Jurnal Hukum Ekonomi Syariah Fakultas Syariah Dan Hukum, 5(1), 61–75. https://doi.org/https://doi.org/10.24252/el-iqthisady.vi.38352

Harisman. (2006). Kamus Istilah Keuangan dan Perbankan Syari’ah. Jakarta: Direktorat Perbankan Syari’ah.

Humaemah, R. (2019). Persyaratan Khusus Dalam Ragam Akad Syirkah Pada Literatur Fikih Mazhab. Ulumuddin : Jurnal Ilmu-Ilmu Keislaman, 9(1), 61–80. https://doi.org/10.47200/ulumuddin.v9i1.282

Iflaha, N. (2019). KONSEP AKAD MUDHOROBAH MUSYTAROKAH DALAM EKONOMI ISLAM. LAN TABUR : Jurnal Ekonomi Syariah, 1(1), 1–21. Retrieved from https://garuda.kemdikbud.go.id/documents/detail/1289837

Irfan Abdul Fattah, & Madian Muhammad Muchlis. (2024). Penerapan Akad Mudharabah dan Musyarakah dalam Sistem Ekonomi Syariah. Jurnal Inovasi Ekonomi Syariah Dan Akuntansi, 1(6), 01–11. https://doi.org/10.61132/jiesa.v1i6.566

LSEG. (2025). ICD - LSEG Islamic Finance Development Report 2025, 9–20.

Maidiana, S. (2023). Metode Penelitian Kuantitatif: Konsep, Jenis, Tahapan dan Penggunaan Metode Survei. Jurnal Pendidikan Dan Penelitian, 12–27.

Maksum. (2012). Metode Penelitian Kuantitatif: Survei dan Statistik. Jakarta: Rajawali Pers.

Mandlur, I. (1993). Lisan al Lisan Tahdzik Lisan al Arab. Beirut: Dar al Kutub al-Ilmiah.

Moleng, F. (2021). Analisis Data Kualitatif dan Kuantitatif dalam Penelitian Sosial. Yogyakarta: Pustaka Ilmiah.

Muhammad Syarif, H. (2020). Implementasi Akad Berpola Kerja Sama Dalam Produk Keuangan Di Bank Syariah (Kajian Mudharabah Dan Musyarakah Dalam Hukum Ekonomi Syariah). Jurnal Hadratul Madaniyah, 7(1), hal 34.

MUI, D. (2006). Fatwa Dewan Syari’ah Nasional No: 50/DSN-MUI/III/2006 Tentang Akad Mudharabah Musytarakah. Dsn Mui, 1–6. Retrieved from https://drive.google.com/file/d/0BxTl-lNihFyzTS1oOUtuSXY2bU0/view?resourcekey=0-D0S8gTIhw_FAEZa1eXVZaA

Pirdos, N. H. (2024). Analisis Pengaruh Akad Musyarakah Pada Usaha Mikro Kecil Menengah ( UMKM ) Dalam Hukum Islam. Risalah: Jurnal Pendidikan Dan Studi Islam, 10(1), 314–325.

Piri, J. K., & Gaffar, M. I. (2023). Analisis Potensi Pembiayaan Akad Musyarakah Terhadap UMKM di Indonesia. Jurnal Mahasiswa Akuntansi, 2(3), 381–388.

Press, A. (2018). Risks of Multi-Contract in Sharia Financial Institutions.

Putra, I. (2022). Jurnal ekonomi rabbani. AL Qard Dalam Prespektif Al Qur’an Dan Hadits Serta Hubungannya Dengan Riba, 2(1), 213.

Rachmadi. (2022). Results Sharing On Musyarakah And Mudharabah Financing In Sharia Bank According To Islamic Sharia. Jurnal Margin, 2(2), 133.

Rawls, J. (1971). A Theory of Justice. Harvard University Press.

Sabiq, S. (n.d.). Fiqhus Sunnah (III).

Studi Literasi Keuangan Syariah dan Evaluasi Akad Musyarakah-Mudharabah di UMKM. (2021). Jurnal Terkait, 40–50.

Studi Lokal Kota Bandung Terkait Penerapan Musyarakah-Mudharabah di Sektor Kuliner UMKM. (2024). Jurnal Ekonomi Islam Universitas Islam Indonesia, 25–35.

Usmani, M. T. (2010). N. An Introduction to Islamic Finance’, Idara-e-Hasanat, 80–100.

DOI: https://doi.org/10.15548/sqf.v10i2.918