Implementation, Opportunities and Challenges of Hybrid Contracts in Islamic Banking in Indonesia

M. Fathrezza Imani; Dewi Insyirahti Salsabila; Ali Muhtarom

doi:10.28918/6zmjmr16

Authors

M. Fathrezza Imani Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan
Dewi Insyirahti Salsabila Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan
Ali Muhtarom Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan

DOI:

https://doi.org/10.28918/6zmjmr16

Abstract

The increasing number of Islamic financial institutions (IFIs) requires Islamic banks to make breakthroughs by combining contracts as a creative process for Islamic banks in developing their products. This study aims to analyze the implementation, opportunities, and challenges of implementing Hybrid Contracts in Islamic banking practices in Indonesia. This study focuses on identifying the forms of combined contracts used, their challenges, and their contribution to product innovation and increasing industrial competitiveness. This study reviews 27 scientific articles indexed in Google Scholar and Sinta published between 2020–2026 using a qualitative approach through a literature review by systematically collecting and analyzing secondary data to obtain a comprehensive picture of the implementation, opportunities, and challenges of Hybrid Contracts in Indonesia. The results show that the implementation of Hybrid Contracts has developed in various Islamic banking products. This application provides opportunities for Islamic banks to create more innovative, flexible, and competitive products. However, this study also found several challenges, such as the complexity of the contract structure, the potential for gharar, differences in fatwa interpretations, and limited human resource competency in comprehensively understanding hybrid contract schemes. This research provides implications for strengthening the harmonization of regulations and fatwas, as well as improving human resource capacity through ongoing education and training. These efforts are necessary to ensure that hybrid contract implementation remains compliant with Sharia principles and supports sustainable industry growth, thus providing a novel contribution to the development of Islamic economics and banking literature in Indonesia.

Keywords:

hybrid contract, Islamic banking, product innovation, opportunities and challenges

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