DSN-MUI Fatwa 166/2026 and Legal Certainty in Sharia Bullion Business

Bambang Sugiharto; Nirmadarningsih Hiya; Muhammad Syaifullah

doi:10.24256/alw.v11i2.11794

Authors

Bambang Sugiharto Universitas Pembinaan Masyarakat Indonesia (UPMI ) Medan, Indonesia
Nirmadarningsih Hiya Universitas Pembinaan Masyarakat Indonesia (UPMI ) Medan, Indonesia
Muhammad Syaifullah State Islamic University of North Sumatra, Medan, Indonesia

DOI:

https://doi.org/10.24256/alw.v11i2.11794

Abstract

Purpose – Purpose – This article examines the legal authority, contract consequences, and ownership safeguards of DSN-MUI Fatwa No. 166/DSN-MUI/II/2026 within Indonesia’s regulated Sharia bullion business.

Method – To answer this research, it is used Normative-juridical research combines statute, conceptual, and doctrinal/fatwa approaches. Identified provisions are interpreted textually and systematically, compared at clause level, and traced to legal consequences and proposed evidence requirements.

Result – The analysis distinguishes the fatwa’s normative authority from regulatory incorporation and contractual effects. It constructs five layers of legal certainty: regulatory basis, Sharia normative basis, contract architecture, operational safeguards, and the intended certainty of rights and obligations. Digital records support qabdh hukmi only when they document complete ownership of existing gold. Loan-based savings, investment capital, undivided ownership, and allocated custody require different safeguards. Fatwa permission and regulatory implementation are assessed separately.

Implication –A proposed normative audit framework links contracts, ownership, custody, gold reconciliation, and risk disclosure to identifiable evidence. It is an academic construction, not an official audit standard or proof of institutional compliance.

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