Pricing Strategy for Islamic Banking Products: A Conceptual-Analytical Approach

Abtrak

This study examines the pricing strategy for Islamic banking products from a conceptual-analytical perspective. Despite their religious foundations, Islamic banks often adopt interest-based benchmarks such as BI Rates, which raises concerns regarding Shariah compliance and authenticity. This paper explores the theoretical foundations of pricing in Islamic economics and proposes a Shariah-aligned pricing framework based on real risk, value-added, and maqāṣid al-sharī‘ah (objectives of Islamic law). Using a qualitative, conceptual approach, the study finds that a pricing strategy rooted in justice, transparency, and socio-economic welfare offers a more ethically coherent alternative to conventional practices. The paper concludes with a conceptual model for Shariah-compliant pricing that integrates normative Islamic principles with practical financial sustainability considerations.

Keywords: Islamic banking, pricing strategy, maqāṣid al-sharī‘ah, benchmark, Shariah-compliance, conceptual analysis