TINJAUAN HUKUM EKONOMI SYARIAH TERHADAP PRAKTIK GHARAR DAN RIBA PADA PERUSAHAAN ASURANSI KONVENSIONAL DI KOTA PEKANBARU

Abstract

This study aims to examine the practice of gharar (uncertainty) and riba (interest) in conventional insurance companies in Pekanbaru City from the perspective of Islamic Economic Law. The research employs a qualitative method with normative juridical and empirical juridical approaches. Data were collected through in-depth interviews with insurance agents and company leaders, field observations, and documentary studies of OJK regulations and DSN-MUI fatwas. The results indicate that conventional insurance products in Pekanbaru substantively contain elements of gharar, as evidenced by obscure contract objects, conditional claim mechanisms, and non-transparent premium management. Furthermore, elements of riba were found through investment of premiums in interest-based instruments. From the Islamic Economic Law perspective, these practices conflict with muamalah principles that prohibit all forms of gharar and riba as stipulated in DSN-MUI Fatwa No. 21/DSN-MUI/X/2001. This study recommends institutional transformation toward a takaful model as a sharia-compliant alternative.