Perbandingan Persepsi Nilai Waktu Uang (TVM) Konvensional Dan Syariah: Tinjauan Legitimasi Syariah Terhadap Jual BeliTanah Sebagai Investasi Jangka Panjang (Studi Kasus Salah Satu Warga Desa Bukit Sari, Teluk Rendah Pasar)

Abstract

This research examines the conceptual difference in the time value of money (TVM) between conventional economics and Islamic economics. The study aims to compare the perception of the Time Value of Money (TVM) between the conventional and sharia systems, specifically through a sharia legitimacy review of a long-term land purchase and sale case as an investment. The methodology employed is qualitative research, with data collection techniques including direct observation and library research, used to reconstruct and gain a deeper understanding of the TVM concept and legitimacy from the perspective of sharia economics. The main finding reveals a fundamental contradiction: the conventional concept posits that money has a time value that must continuously increase, proxied by interest and considering inflation, risk, and opportunity costs; whereas Islamic economics rejects conventional TVM because it contains riba (usury) and gharar (uncertainty). In the analyzed land transaction case, additional charges for payment delays and a premium for disaster risk (totaling 5 million Rupiah) are considered legitimate and rational under conventional principles; however, they are strictly prohibited in sharia as they are classified as Riba Jahiliyah and Gharar.