Sharia Supervisory Board in Limited Company-Based Sharia Banks

Nurhasanah Nurhasanah


This paper aims to examine the function of the Sharia Supervisory Board (SSB) due to the inconsistency of laws and regulations concerning this body. Law No. 21 of 2008 on Sharia Banking has required every Sharia Bank and Sharia Business Unit in the Banks to form an SSB. However, Law No. 40 of 2007 on Limited Liability Companies has not regulated the SSB as a corporate organ. This paper analyzes laws and regulations on the SSB and court decisions on cases resulting from legal inconsistencies, with the organizational structure and fiduciary duty theories as analytical frameworks. This study finds out that legal ambiguity results in the absence of coordination between the SSB and other bodies in the organization. Thus, this prevents the SSB from optimally carrying out its functions and roles. Among the consequences is the inability to ensure sharia compliance in business contracts leading to lawsuits to cancel the contracts.



Limited Company, Company Organs, Sharia Supervisory Board, Organization structure, fiduciary of duty, and Sharia Principles


Manuel G Velasquez, Business Ethics Consept and Cares, (London; Prentice Hall International, 2002)

Satjipto Rahardjo, Legal Studies, Citra Aditya Bakti: Bandung, 2012

C. P. Chaplin, Dictionary of Phsychology, Kartini Kartono et al. (terj), Complatr Psychology Dictionary, (Jakarta: 1981, PT RajaGrafindo Persada)

Terry, George. Principles of Management Illinois: 1960, Richard D. Irwin Inc. Homewood

Agus Dwiyanto, Public Bureaucratic Reform in Indonesia, Yogyakarta: 2006, Gadjah Mada University Press.

Hermansyah, Hukum National Banking Law In Indonesia, (Jakarta; Kencana Prenadamedia Group, 2014), 8th Edition

Mei Pheng Lee dan Ivan Jeron Detta, Islamic Banking and Finance Law, (Selangor Darul Ihsan: PEARSON MALAYSIA SDN, BHD, 2007), 1st Edition

Kamal Khir, Lokesh Guptam Bala Shanmugam, Islamic Banking : A Practical Perspective, (Selangor darel Ihsan; PEARSON MALAYSIA. SDN. BHD, 2008), Cet. Ke-1

Mahmoud A. El-Gamal, Islamic Finance : Law, Economics , and Parctice, (New York: Cambridge University Press, 2009)

Munir Fuady, Acts Against the Law: A Contemporary Approach, (Bandung; PT. Citra Aditya Bakti, 2002

Hidayatullah, The Positio and Responsibility of Sharia Supervisory Boa, in The Company Organs, Atlantis Press; Advances in Social Science, Education and Humanities Research, Volume 162on, (International Conference of Law and Justice/ ICLJ 2017)

Zainal Asikin dan L. Wira Pria Suhartana, Introdustion to Corporate Law, Prenada Media Group, April 2016, Cet. Ke-1

H.B. Siswanto, Menagemen Introduction, (Jakarta, Bumi Aksara, 2005)

HB. Siswanto dan Agus Sucipto, Organizational Theory and Behavior: An Overview of Integration, Malang: UIN Malang, 2008)

Stoner, James A.F, Wankel, Charles, Planning Decision Making in Management, (Jakarta; PT. Rineka Cipta, 1993)

EQUILIBIRIUM: Sharia Economics Journal, Volume 5, No. 2, 2017, 292-305, P-ISSN: 2355-0228, E-ISSN: 2502

Law Number 21 Years 2008 concerning Sharia Banking

Law Number. 40 Years 2007 Concerning Limited Company

Bank Indonesia Regulations Number 6/17/PBI/2004 dated 1st July 2004 Concerning Sharia Rural Financing Bank

Bank Indonesia Regulations Number 6/24/PBI/2004 Dated 14 October 2004 Concerning Commercial Banks conducting business activities based on Sharia Principles

Bank Indonesia Regulations Number.7/35/PBI/2005 tanggal 29 September 2005 Concerning Sharia Rural Financing Bank conducting business activities based on Sharia Principles

Bank Indonesia Regulations Number.8/3/PBI/2006 dated 30 January 2006 concerning change in business activities of Conventional Commercial Banks to Commercial Banks conducting business activities based on Sharia Principles and Opening of Bank Offices conducting business activities based on Sharia Principles by Conventional Commercial Banks

Alfin Fitriana, Analisis Sharia Economic Law on the Murabahah Contract Case in the Bukit Tinggi Religious Court Decision No. 284 / Pdt.G / 2006 / Pa.Bkt, Thesis of Muamalah Department, Sharia Faculty IAIN Ponorogo ,

Supreme Court Circular No. 2 of 2019 concerning the Enforcement of the Formulation of the Results of the Plenary Meeting of the Religious Chamber of the Supreme Court in 2019 as guidelines for the Implementation of Duties for the Court, the Legal Formulation of the Religious Chamber point 2 regarding Sharia Economics letter B, P. 7

Full Text: PDF

DOI: 10.15408/aiq.v14i2.26190


  • There are currently no refbacks.