RELEVANSI PEMBIAYAAN SKEMA MUDARABAH DALAM MENDUKUNG TERCAPAINYA TUJUAN EKONOMI ISLAM (STUDI KASUS PADA BANK SYARIAH MANDIRI DAN BANK MUAMALAT INDONESIA)

Bambang Waluyo, NIM.: 1330017004 (2019) RELEVANSI PEMBIAYAAN SKEMA MUDARABAH DALAM MENDUKUNG TERCAPAINYA TUJUAN EKONOMI ISLAM (STUDI KASUS PADA BANK SYARIAH MANDIRI DAN BANK MUAMALAT INDONESIA). Doctoral thesis, UIN SUNAN KALIJAGA YOGYAKARTA.

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Abstract

Mudarabah finacing is supposed to be practiced and developed by syaria banks due to its ability to improve their customers‘ prosperity. Surprisingly, this scheme of finance is declining which shows that mudarabah has not been the core product. Earlier studies revealed problems and alternatives to minimize them when issuing it. Being modern finance institutions running under syaria principles, syaria banks is supposed to be the supporting agents in implementing islamic economy. Mudarabah financing, that improves customers‘ prosperity by allocating resources owned by syaria banks to their customers called mudaribs who need capital expenditure, needs to be examined on its relevance in supporting islamic economy. Using qualitative descriptive explorative approaches, the study aimed at evaluating and exploring problems and the solutions in the implemetation. It also examined the relevance of mudarabah financing scheme to the goal of islamic economy. This explorative field research collects primary data from interview and questionnaire. The study revealed that the identified problems involved several factors, namely internal, external, system and effectiveness. The study also identified the following ways to minimize arising problems: a) screen the customers‘ project attributes, b) screen the mudharib/customer attributes, c) analyse customers‘ internal, d) implement incentive compatible constraint, e) monitor, f) educate, g) arrange good system, h) create ideal MOU, i) and many more. Mudaribs, mostly women of pre-prosperous status, take mudarabah scheme from BSM to improve their economy and to avoid loan sharks while mudarabah from BMI to pay projects run by the government for the sake of citizens‘ welfare. According to its characteristic like making profit, bridging parties with unattainable potency without help, empowering real sector, and channeling mudarabah financing at BSM and BMI, several conclusions could be drawn. The scheme was relevant and was in line with the aim of islamic economy, namely reaching prosperity in an islamic moral frame, upholding brotherhood and equality, equalizing income, and appreciating individual freedom in social welfare context. In general, the mudarabah in Indonesia is held by BPRS, loan-deposit and syaria financing cooperation (Koperasi Simpan Pinjam dan Pembiayaan Syariah = KSPPS) with channelling and executing model, cooperation of employees and projects with healthy underlying like the one under the state budget. Mudarabah as syaria bank‘s product cannot be implemented due to its clssical consept of no-guarantee required. However, contemporary practice by syaria banks allows the institutions to take fixed assets and/or non fixed assets as guarantee. To make this practice agree with the classical concept, the banks should consider a hybrid contract (al „uqud al murakkabah) as mudaribs who are running business (BPRS, cooperation or project) should undergo screening. It can be considered a participation in a joint venture. Consequently, it is no longer a mudarabah. The study recommends necessary steps to minimize problems when channeling, i.e. a) conducting screening for the customer‘s project attribute, b) running screening for mudarib/customer‘s attribute, c) analysing internal of the customer, d) applying incentive compatible constraint, e) monitoring, f) educating, g) utilizing good system, h) using an ideal MOU model, i) many more. Mudarabah as a product of syaria bank in Indonesia should employ hybrid contract / al „uqud al murakkabah to be in line with its classical concept which is actually practiced by syaria banks where a joint venture between bank and mudarib exist.

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