Application of Wakalah in International Trade Transactions

  • Fitri Raya FEBI UIN Sultan Maulana Hasanuddin Banten
  • Dian Febriyani Fakultas Syariah UIN Sultan Maulana Hasanuddin Banten
  • Elsa Elsa FEBI UIN Sultan Maulana Hasanuddin Banten
  • Rasidah Novita Sari FEBI UIN Sultan Maulana Hasanuddin Banten
Keywords: International Trade, Wakalah, Letter of Credit

Abstract

This article will discuss the application of wakalah in the context of letters of credit which are a common means of payment in international trade. This research uses library research (library study). The data source used is secondary data. Secondary data was collected through literature studies related to the application of wakalah contracts in international trade transactions, especially payment systems using letters of credit. This analysis provides insight into how wakalah contracts can be effective instruments and in line with international business needs while maintaining the integrity of Islamic financial values. It is hoped that this research can contribute to further understanding the application of wakalah in international trade transactions, especially in the context of letters of credit, as well as encouraging the development of more inclusive and sustainable business practices.

Published
2024-02-09
How to Cite
Raya, F., Febriyani, D., Elsa, E., & Sari, R. (2024). Application of Wakalah in International Trade Transactions. Islamic Banking : Jurnal Pemikiran Dan Pengembangan Perbankan Syariah, 9(2), 415-428. https://doi.org/10.36908/isbank.v9i2.866