Provision of Mortgage in Islamic Syariah Between the Theory and its Application in the Islamic Cooperative of Pattani Limited

Abstract

Pawnshops in Thailand are well-known as a source of urgent funding. The pawnshops in Thailand in the last few years are developing and bring real benefits. The Islamic Cooperative Of Pattani Limited is the first and the only Islamic financial institutions that implements Islamic gold pawn broking in Thailand. The purpose of this study is to describe how the Thai Muslim community about the practice of sharia gold pawning (Ar-Rahn) in The Islamic Cooperative Of Pattani Limited. This study uses thematic and descriptive methods by collecting materials relevant to the study. Among the findings of the study is that researchers found that this gold pawn was made for someone who is desperate for financial problems. And the cost of ujrah on gold collateral in accordance with sharia principles, the cost of ujrah is the cost arising from the implementation of gold pledge. That is, Islamic financial institutions are responsible for maintaining the collateral until they are paid, then the murtahin is not obliged to bear the costs arising from the implementation of the gold mortgage.