scholarly journals MUDHARABAH SCHEME WITHIN THE ISLAMIC BANKING: PROFIT SHARING AND ASSOCIATED PROBLEMS IN IT

Kodifikasia ◽  
2020 ◽  
Vol 14 (2) ◽  
pp. 235-262
Author(s):  
Supriatna Supriatna ◽  
Irpan Helmi ◽  
Nurrohman Nurrohman
Keyword(s):  
Qualitative Methods ◽  
Revenue Sharing ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Financial Loss ◽  
Net Profit ◽  
Financing And Investment ◽  
Conventional Banks ◽  
Sense Of Justice

Artikel ini membahas prinsip bagi hasil dalam skema mudharabah di perbankan syariah dan permasalahan yang terdapat di dalamnya dengan metode deskriptif-kualitatif melalui studi kepustakaan dan eksploratif literatur. Skema mudharabah biasanya diterapkan pada produk pembiayaan dan investas yang melibatkan dua pihak: shahib al-maal dan mudharib. Kedua belah pihak bekerjasama untuk mendapatkan keuntungan yang akan dibagikan sesuai dengan nisbah yang telah disepakati di awal akad. Apabila terjadi kerugian finansial, shahib al-maal akan menanggung semuanya, tetapi jika disebabkan oleh kelalaian pengelola modal maka kerugian tersebut harus ditanggung oleh mudharib. Hasil penelitian menunjukkan bahwa dalam akad mudharabah mayoritas bank syariah menerapkan prinsip revenue-sharing yang secara tidak langsung direstui oleh Fatwa DSN 07/2000. Penerapan prinsip ini dapat memicu timbulnya rasa ketidakadilan karena bagi hasil dihitung berdasarkan laba kotor yang lebih menguntungkan pihak shahib al-maal dan kurang menguntungkan bagi mudharib. Kondisi ini membuat nasabah kurang termotivasi untuk memilih bank syariah ketimbang bank konvensional. Dilihat dari perspektif fiqh, bagi hasil dihitung berdasarkan keuntungan bersih sebagaimana diterapkan pada prinsip profit/loss-sharing, yang penerapannya juga direkomendasikan oleh OKI. Pada akhirnya, penyempurnaan pada Fatwa DSN 07/2000 perlu dilakukan untuk memberikan rasa keadilan bagi semua entitas mudharabah: shahib al-maal dan mudharib. [This article was created to discuss the principle of profit-sharing in the mudharabah scheme in Islamic banking and the problems contained therein using descriptive-qualitative methods through library study and literature exploratory. Mudharabah schemes are usually applied to financing and investment products that involve two parties: shahib al-maal and mudharib. Both parties collaborate to get profits which will be shared according to the nisbah agreed at the beginning of the contract. If there is a financial loss, shahib al-maal will bear everything, but if it is caused by the negligence of the capital-user then the loss must be borne by the mudharib. The results showed that in the mudharabah contract, the majority of Islamic banks apply the principle of revenue-sharing which is indirectly blessed by Fatwa DSN 07/2000. The implementation of this principle could trigger a sense of injustice because the profit-sharing is calculated based on gross profit which is more beneficial for the shahib al-maal and less profitable for the mudarib. This condition makes customers less motivated to choose Islamic banks rather than conventional banks. From the perspective of fiqh, profit-sharing is calculated based on net profit as it’s applied to the principle of profit/loss-sharing as well as recommended by the OIC. At the end, improvements to the Fatwa 07/2000, needs to be done to provide a sense of justice for all mudharabah entities: shahib al-maal and mudharib.]

scholarly journals Pricing Linkage between Islamic Banking and Conventional Banking: The Case of Bangladesh

2016 ◽  
Vol 3 (4) ◽  
pp. 84
Author(s):  
Sarwar Uddin Ahmed ◽  
Ashikur Rahman ◽  
Samuel Parvez Ahmed ◽  
G M Wali Ullah
Keyword(s):  
Profit Sharing ◽  
Islamic Banking ◽  
Specific Rate ◽  
Islamic Banks ◽  
Loss Mechanism ◽  
Monthly Data ◽  
For Profit ◽  
Significant Difference ◽  
Conventional Banks ◽  
The Relationship

<p><em>Islamic banking is based on profit and loss mechanism where the use of interest is prohibited.  Unlike conventional banks, these banks do not charge a specific rate of interest, rather provides financing in exchange for profit sharing.  However, there are studies claiming that, in practice, Islamic banking is same as conventional banking with regard to the use of interest. It is also claimed that, Islamic deposits are not interest-free, but are closely attached to conventional deposits.  On this background, the objective of this study is to examine the relationship between pricing in Islamic banks vis-à-vis conventional banks by taking the case of Bangladesh. We have used monthly data during the period of 2009-2013. The findings of the study showed that, there is no statistically significant difference between the monthly average lending rates of Islamic banks and conventional banks. However, there is significant difference between deposit rates. The existence of causal relationship was inconclusive, and requires further analysis.</em></p>

scholarly journals PERBANKAN SYARIAH DAN PERBANKAN BERDASARKAN BUNGA: MANAKAH YANG LEBIH OPTIMAL?

2007 ◽  
Vol 9 (2) ◽  
pp. 57-97 ◽  
Author(s):  
Tarsidin Tarsidin ◽  
Perry Warjiyo
Keyword(s):  
Revenue Sharing ◽  
Profit Sharing ◽  
Shareholder Wealth ◽  
Debt Financing ◽  
Islamic Banking ◽  
Optimization Approach ◽  
Islamic Banks ◽  
Equity Financing ◽  
Static Optimization ◽  
Conventional Bank

Unlike the conventional interest-base bank, the Islamic banks use both equity financing with profit sharing and debt-like financing with mark-up, ad at the funding side they use both investment scheme with revenue sharing and deposit scheme with rewards. The conventional bank use debt financing with interest and at the funding side use the deposit scheme with interest as well. The optimality of the two banking systems will be tested to determine which one is more optimal in terms of the wealth of the bank shareholder, the welfare of the entrepreneur, and the welfare of the depositors.Using a multiperiod static optimization approach, the results shows that in the interest-based banking is more optimal in terms of the shareholder wealth and the depositor’s welfare, while the Islamic banking is more optimal in terms of the entrepreneur welfare.Keywords : sistem perbankan, bank syariah, bunga, bagi hasil, mudharabah, wadi'ahJEL Classification : G21, P51

scholarly journals The Implementation of Ijarah Muntahiya Bittamlik and Mudharabah Products in the Sharia Economic Law Perspective

2018 ◽  
Vol 2 (2) ◽  
Author(s):  
Mimin Mu’minah
Keyword(s):  
Rapid Development ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Economic Law ◽  
Conventional Banks ◽  
Islamic Economic

This article is motivated by the rapid development of the Islamic banking world, especially in Indonesia where the majority of the population is Muslims. When other countries have given birth to Islamic-based banks, as well as Indonesia, in 1992 was the establishment of Bank Muamalat Indonesia. Islamic banks use applications that are different from conventional banks, where the term on conventional banks is interest, whereas in Islamic banks use the profit sharing application. One application of Islamic banks that is very helpful to customers is the Mudharabah and Ijarah Muntahiya Bittamlik (IMBT) application. Although these two applications exist in Islamic banks or Islamic-based banks, it is possible that the two applications are not in accordance with Islamic economic law. Therefore, this paper tries to analyze the mudharabah and IMBT applications in the perspective of sharia economic law.  

scholarly journals Implikasi Teori Percampuran Akad Mudharabah Dan Musyarakah Terhadap Perbankan Syariah (Studi Kasus Bank Syariah Mandiri KCP Sumenep)

2020 ◽  
Vol 3 (1) ◽  
pp. 53-63
Author(s):  
Ahmad Shibghatullah Mujaddidi
Keyword(s):  
Financial Engineering ◽  
Revenue Sharing ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Financial Report ◽  
The Public ◽  
Islamic Financial Institutions ◽  
Descriptive Approach ◽  
Branch Office

  This paper aims at describing the implications of the theory of mixing and its products towards Islamic banking and Islamic financial institutions. A qualitative research methods with a descriptive approach was implemented in this study. The object of the current study was Sub-Branch Office (KCP) of the Syariah Mandiri Bank in Sumenep Regency. The results of this study indicated that the products of the Syariah Mandiri Bank KCP Sumenep in terms of the Musharaka financing contract consists of Musharaka mutanaqishah and musharaka of network capital. Musharaka mutanaqisha is applied in home financing in which the profits are obtained from the margin agreed by all parties. While, the musharaka of network capital uses a profit sharing system in which the profits are calculated through a revenue sharing system. In terms of juridical law, the Syariah Mandiri bank KCP Sumenep has followed the rules stated in the Sharia banking law of 2008 as well as in the fatwa of the National Sharia Board. Whereas, in the case of the application of musharaka accounting that has been regulated in International Financial Report Standard (PSAK), Sharia Mandiri Bank KCP Sumenep has accordingly applied the contract accounting of musharaka as regulated in PSAK 106. However, in terms of account recording (estimation), Islamic banks have not obeyed the rules stated in PSAK 106. Furthermore, this study concludes that there are still many customers who do not understand the contract of mudharabah at Syariah Mandiri Bank KCP Sumenep. It due to the lack of socialization from the banks to the public. In juridical perspective, the Sharia Mandiri Bank KCP Sumenep do not implements mudharabah contract based on fatwa of the National Sharia Board and do not apply the accounting based on PSAK 105. Therefore, it is categorized as Islamic/ sharia financial engineering.

scholarly journals Analisis Penerapan dan Sistem Bagi Hasil Akad Mudharabah Dalam Akuntansi Syariah

2019 ◽  
Vol 3 (1) ◽  
pp. 48-57
Author(s):  
Muhammad Rijalus Sholihin ◽  
Abdul Mun’im
Keyword(s):  
Revenue Sharing ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Banking Services ◽  
Banking Systems ◽  
The People

Islam is the religion that is most widely adhered to by the people of  Indonesia, so it is not surprising that since before the year two thousand Islamic banks have emerged in this country, starting from Bank Muamalat which was first in Indonesia and then independent Islamic Banks to various conventional banking systems which opened the. In Islamic banking itself, there are many products offered, ranging from pure savings, financing to Islamic banking services like a conventional one, but there are fundamental principles that distinguish between the two. Therefore there is a need for further understanding of Islamic banking products Through this research, it is expected that the implementation and system of profit sharing in the Mudharabah contract in sharia accounting will be well known and in accordance with Sharia PSAK and the fatwa of the national sharia council (DSN). The results of this study are that the results of the mudharabah contract and sharia accounting are of two types, namely profit loss sharing, and revenue sharing, these two methods can be used in determining profit sharing in carrying out mudharabah contracts.

scholarly journals ANALISIS IMPLEMENTASI PRINSIP BAGI HASIL, RISIKO DAN PENANGANAN PEMBIAYAAN BERMASALAH TERHADAP PEMBIAYAAN MUSYARAKAH DAN PEMBIAYAAN MUDHARABAH (STUDI KASUS:BANK SYARIAH MANDIRI KC MANADO)

2016 ◽  
Vol 5 (2) ◽  
pp. 207
Author(s):  
Kartika Soetopo ◽  
David P.E. Saerang ◽  
Lidia Mawikere
Keyword(s):  
Banking System ◽  
Secondary Data ◽  
Profit Sharing ◽  
Special Treatment ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Financing Risk ◽  
Conventional Banks ◽  
Branch Office ◽  
Two Sides

The banking system in Indonesia is conducted by the dual banking system where the system is divided into conventional and Islamic. Presence of Islamic banks has provided  investment alternatives without worrying about the risk the development of remuneration with an uncertain interest method. But on this implementation, Islamic banking requires special treatment  different from conventional banks, especially in terms of handling the risks and challenges faced by Islamic banks. The problem is how to implement the profit sharing of principal and risks and how the handling Non Performing Finance of the implementation the profit sharing. To answer the problems of research using qualitative methods by analyzing primary and secondary data so as to produce the results of interviews. The result of this study show that in musyarakah principle not much different from the mudharabah, that both a system of partnership between the two sides or more to administer a particular business with profit sharing corresponding portion (ratio) were agreed at the beginning of the agreement. On this Implementation Mudharabah and Musyarakah have a some differences. While the risk in financing the Musyarakah and mudharabah, especially on this the financing application, high relatively, among other side streaming, negligence and misconduct willful, concealment of profits by customers when customers are not honest. The amount of financing risk is shown in the ratio of non-performing finance (NPF). The high of NPF indicates the large number of borrowers who can’t repay their finance in accordance with the initial agreement that has been agreed between the bank and the customer, so financing becomes problematic. Funding problems can be caused by the bank itself, the customers or external parties. Bank Syariah Mandiri (BSM) Branch Office Manado has been anticipating the event of a dispute banking, especially in the provision of financing problems. On this theory of completion financing problems, be done with several measures including the rescue action by intensive bill, rescheduling, re-requirements and realignment. Rescue actions made by bank on this condition that the customer is still considered to have good faith to settle the payment. Keywords: Islamic Banking, Profit Sharing, Risk, and Financing Problems

scholarly journals The Effect of Profit Sharing Financing and Receivables towards Total Assets in Islamic Banking: Case Study in BNI Syariah

2021 ◽  
Vol 5 (1) ◽  
pp. 28-40
Author(s):  
Zulfikar Hasan
Keyword(s):  
Main Product ◽  
Banking System ◽  
Revenue Sharing ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
For Profit ◽  
New Knowledge ◽  
The Relationship

The objective of my research is to observe at the relationship between receivables, profit-sharing financing to total assets at BNI Syariah Bank from 2016-2020. Total assets in BNI Syariah frequently endure fluctuations in total assets each year, whether receivables and profit-sharing financing have a significant effect on variable Y (total assets). The method that researchers run is a quantitative method using the help of SPPS software, while the variables that influence are the dependent variable receivables and profit-sharing financing. The funding channelled by BNI Syariah is essentially the same as other Islamic banks in Indonesia. Because it still uses an agreement that has long practised in the Islamic banking system, such as the Murabaha contract for the provision of receivables, Mudharabah and Musyarakah contracts for profit sharing between customers and banks. The relationship between Receivables and Revenue Sharing Financing has a positive correlation between variables. This research can also provide some connection between Murabahah and Musharaka which are one of the main product sources of BNI Syariah bank. The originality of the research that the researcher makes is his own, it is not copied and that the researcher's research idea is new and can add new knowledge.

Social learning and principal-agent problems in profit sharing contract

Humanomics ◽  
2016 ◽  
Vol 32 (4) ◽  
pp. 498-515 ◽  
Author(s):  
Noraina Mazuin Sapuan ◽  
Nur Azura Sanusi ◽  
Abdul Ghafar Ismail ◽  
Antoni Wibowo
Keyword(s):  
Social Learning ◽  
Learning Process ◽  
Positive Relationship ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Content Type ◽  
For Profit ◽  
Intelligence System ◽  
Net Profit

Purpose The purposes of this study are twofold. First, to theoretically examine the profit-sharing (mudarabah) contract that produces an optimal distribution of return in the presence of social learning (shuratic process) within the environment of asymmetric information. Second, to empirically investigate the optimal condition of profit-sharing ratio (PSR) and social learning for profit-sharing (mudarabah) contract in Islamic banking. Design/methodology/approach Data from one of the biggest and earliest Islamic banks in Malaysia were taken as a proxy of an Islamic bank. The data are collected from the period of 2009 to 2013, and these will be used for the simulation process by using the genetic algorithm (GA) technique. Findings The empirical results discovered that Islamic banks had used social learning in their daily activities, especially in the asset side. The results also showed that the trend of social learning has a positive relationship with the trend of Islamic banks’ net profit. Additionally, the results also indicated that the Islamic banks’ net profit has a positive relationship with its PSR from the profit-sharing (mudarabah) financing and securities investment. Originality/value This study is the first of its kind that investigates the implementation of the social learning process in Islamic banking operation. This study also used the latest technique from artificial intelligence system, i.e. a GA, to attain an optimal value for PSR and social learning process.

scholarly journals RIBA AND ISLAMIC BANKING, EXAMINING THE PRACTICES OF JAIZ BANK PLC, NIGERIA

2018 ◽  
Vol 18 (1) ◽  
Author(s):  
Abdulmajeed Bolade Hassan-bello
Keyword(s):  
Joint Venture ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Islamic Bank ◽  
Public Company ◽  
Conventional Banks ◽  
Financial Transactions ◽  
Common Application ◽  
Islamic Values

Critics of Islamic banking argue, that how could Islamic banking work when interest (riba) is prohibited? Those in favour argue that Islamic banks can operate without interest. This is the contention of the paper. Islamic bank is a banking which operates without the norm of interest. However, the Muslim scholars have never seriously discussed the three basic questions. Riba, interest, are riba and interest synonymous. The most common application of riba is on monetary transaction relating to “loans” and “credits”. A unique feature of Islamic banking is its profit-and-loss sharing (PLS) paradigm, which is predominantly based on the mudarabah (profit-sharing) and musharaka (joint venture) concepts of Islamic contracting. However, Islamic banks are also criticized for not applying the principle of mudaraba in an acceptable manner. Where banks are eager to take part in profit-sharing but they have little tolerance for risk. Jaiz bank plc, the first Islamic bank in Nigeria, is a quoted public company owned by over 26,000 shareholders. Based on recommendations from Islamic Development Bank (IDB), which is also a shareholder of the bank, Jaiz Bank PLC had partnered with Islamic Bank of Bangladesh (IBBL). However, the Islamic Banks, generally, seem to attract a fraction of the business of financial transactions in any country where conventional banks operate. The challenge facing Islamic banks is the diversity of opinion among the Sharia scholars. Whether the particular practice or product, is Sharia compliant. The paper therefore, concludes that, by prohibition of riba, Islam wishes to establish an economic system where all forms of exploitation are eliminated. The difficulty to understand the prohibition comes from lack of appreciation of the whole complex of Islamic values.  Thus, the future of Islamic banks depends not only upon investing in new products but also upon the satisfying the faith of the stakeholders. 

scholarly journals Determinan Pembiayaan Bagi Hasil Pada Perbankan Syariah

2021 ◽  
Vol 2 (01) ◽  
pp. 1-10
Author(s):  
Yuridistya Primadhita ◽  
Anggraita Primatami ◽  
Susilowati Budiningsih
Keyword(s):  
Revenue Sharing ◽  
Profit Sharing ◽  
Third Party ◽  
Islamic Banking ◽  
Regression Methods ◽  
Sharing Scheme ◽  
Negative Effect ◽  
Conventional Banks ◽  
The Impact ◽  
Positive Effect

Pembiayaan bagi hasil bank syariah terbagi dalam bentuk pembiayaan mudharabah dan musyarakah yang didasarkan pada skema profit sharing atau revenue sharing. Skema ini sangat berbeda dengan kredit pada bank konvensional yang berbasis bunga. Tujuan penelitian adalah untuk menganalisis pengaruh dana pihak ketiga (DPK), financing to deposit ratio (FDR), dan non performing financing (NPF) terhadap pembiayaan bagi hasil perbankan syariah di Indonesia. Penelitian terdiri atas 37 observasi meliputi periode September 2017 sampai dengan September 2020. Data dianalisis dengan metode regresi linier berganda. Penelitian menghasilkan temuan DPK dan FDR berpengaruh positif terhadap pembiayaan bagi hasil, sementara NPF berpengaruh negatif terhadap pembiayaan bagi hasil. Semakin rendah risiko bank, semakin tinggi pengumpulan dana nasabah, dan semakin besar rasio penyaluran pembiayaan berpengaruh terhadap peningkatan penyaluran pembiayaan berbasis bagi hasil pada perbankan syariah di Indonesia. Abstract Profit-sharing financing in Islamic banks is divided into mudharabah and musyarakah financing which is based on a profit-sharing or revenue sharing scheme. This scheme is very different from interest-based credit at conventional banks. This study aims to analyze the impact of third party funds (DPK), financing to deposit ratio (FDR), and non-performing financing (NPF) on the profit-sharing financing of Islamic banking in Indonesia. The study consisted of 37 observations covering the period September 2017 to September 2020. Data were analyzed using multiple linear regression methods. The results of the study showed that TPF and FDR had a positive effect on profit-sharing financing, while NPF had a negative effect on profit-sharing financing. The lower bank risk, the higher collection of customer funds, and the higher financing distribution ratio have an effect on increasing the distribution of profit sharing based financing in Islamic banking in Indonesia.

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