Mutanaqishah: Journal of Islamic Banking

The Application of Murabahah Contract in Credit-Based Sale and Purchase: Implications for Consumer Protection

Siti Ropiah — 2025-01-13

Purpose – This research aims to understand the application of Murabahah contracts in credit-based buying and selling in Islam and its implications for consumer protection.

Methodology – This study uses a normative approach to understand the legal basis of murabahah. In addition, a study was conducted on the regulations governing Islamic financial institutions, to see how murabah contracts are applied in credit transactions.

Findings – The findings of the study show that although this contract is in principle in accordance with sharia, there are several challenges in its implementation, such as information transparency, risk management, and the fulfillment of consumer rights. The legal implications of these findings include the need for increased supervision, customer education, and regulatory updates to ensure consumer protection.

Implications – The results of the study provide recommendations to strengthen the Islamic banking system through increasing accountability in the implementation of murabahah contracts to create a fair relationship between banks and customers and support sharia-based economic growth.

Originality – This study conducts a comprehensive study related to contract regulations and Murabahah contract practices, and especially its implications for consumer protection.

Islamic Organizational Culture, Islamic Work Ethics and Job Satisfaction’s Impact on Employee Performance in Islamic Microfinance

Naila Mufawazah — 2025-01-15

Purpose – The purpose of this study is to examine the effect of Islamic work ethic, Islamic organizational culture, and job satisfaction on the employee performance of BMT under ASKOWANU Jepara. The Islamic microfinance in this study is BMT ASKOWANU Jepara.

Methodology – This research used a quantitative methodology and a sample of 80 employees at BMT affiliated with ASKOWANU Jepara. The data was collected utilizing a purposive sampling method and a questionnaire. Data analysis methodologies encompass ordinary least squares (OLS) regression and hypothesis testing, namely the partial test (T test) and simultaneous test (F test).

Findings – The results indicated that Islamic organizational culture influences employee performance at BMT Jepara. Nonetheless, the Islamic work ethic and job satisfaction exert no influence on employee performance.

Implications – These studies offer guidance for BMT managers to enhance Islamic work ethic and workplace happiness to elevate staff performance. A more effective technique is required for achieving the adoption of Islamic organizational culture within the workplace.

Originality – This study provides empirical insights into the correlation among Islamic work ethic, Islamic organizational culture, and job satisfaction inside Islamic microfinance institutions, specifically BMTs in Jepara, utilizing a quantitative method.

The Implementation of Islamic Business Ethics in Practice: The Income Smoothing Method in Islamic Banking

Muhamad Wirdiansah — 2025-01-25

Purpose:
This study examines Islamic business ethics in income smoothing within Islamic banking. It analyzes whether income smoothing aligns with Islamic ethics principles of fairness, transparency, and accountability, and its implications for stakeholder trust and institutional integrity.

Methodology:
A qualitative approach was used, which included looking at the content of Islamic banks' financial statements and talking to important people, like Shariah board members and financial experts. The study also incorporated a review of relevant Islamic jurisprudential texts to assess compliance with Shariah principles.

Findings:
Although income smoothing is a common practice to stabilize profit distribution and ensure customer satisfaction, its implementation raises ethical concerns, according to the research. Some practices may inadvertently conflict with the principles of transparency and honesty in financial reporting. However, when applied within Shariah-compliant frameworks, income smoothing can enhance the stability of Islamic banks and foster stakeholder trust.

Implication:
The findings highlight the necessity of implementing stricter regulatory oversight and formulating comprehensive guidelines to align income-smoothing practices with Islamic business ethics. Banks should prioritize ethical considerations to maintain their Shariah-compliant status and uphold public trust.

Originality:
This study contributes to the limited body of research on the intersection of Islamic business ethics and income smoothing practices. It offers a novel perspective by integrating Shariah principles into the discussion of financial management strategies in Islamic banking.

The Impact of Cost-to-Income Ratio, Net Benefit, and Operating Expenses on Islamic Commercial Bank Loss Reserves

Annisa Anggraini — 2025-02-15

Purpose – This study aims to examine the influence of Cost to Income Ratio (CIR), Net benefit (NI) and operating expenses operating income (BOPO) on the impairment loss reserve (CKPN).

Methodology – In this study, the sample determination was carried out for 5 years. Determination of sample criteria using purposive sampling method, which is a sampling technique derived from certain criteria and obtained a sample of 6 banks so that the total number of samples is 30 samples. The method used is regression analysis of panel data using Random Influence Model approach analyzed through software Eviews 10.

Findings – Derived from upshots of the study can be obtained that the partial Cost to Income Ratio has a significant influence on CKPN. Net rewards significant influence on CKPN. Operating expenses operating income has no significant influence on CKPN. Simultaneously Cost to Income Ratio, Net benefits and operating expenses operating income has a significant influence on CKPN in Sharia commercial banks registered with the Financial Services Authority for the period 2019-2023. In Islamic business management, efficiency (CIR and BOPO), transparency and benefit optimize halal income (NI) and maintain financial stability in accordance with sharia values.

Implications – Upshots of this study provide recommendations to each bank in facing different credit risk challenges, both in terms of financing portfolio characteristics, risk mitigation strategies, and financial management policies.

Originality – This study provides insight into the importance of risk management in Islamic banking, especially in managing impairment losses (CKPN) as a mitigation measure against potential financing risks.

Implementation of ESG Principles in Investment of Bank Syariah Indonesia: An Analysis of Maqashid Shariah

Putri — 2024-02-22

Purpose – This study aims to analyze the application of the principles of Enveromental, social, Governance (ESG) in the investment of Indonesian Islamic banks (BSI) in terms of maqashid syariah perspective.

Methodology – The method used in this research is a qualitative method with a descriptive approach. The data sources used come from secondary data in the form of annual reports, industry reports, and online news. In addition, the research data also comes from various articles published in scientific journals.

Findings – The results of this study indicate that there is a strong alignment between the principles of ESG and Maqashid sharia in investment activities carried out by Bank Syariah Indonesia (BSI). The alignment of these two concepts creates an investment model that is not only focused on financial gain but also oriented towards mutual benefit and environmental preservation. This research identifies the ESG principles in the investments made by BSI in line with maqashid sharia for the protection of life (hifs al-nafs), reason (hifz al-aqal), property (hifz al-maal), religion (hifz al-din) and offspring (hifz al-nas).

Implications – The implication of this research is that the ESG principle in investment activities if done properly does not conflict with the maqashid syariah principle.

Originality – This research provides a new perspective on the alignment between ESG principles and maqashid sharia. The results of this study provide data support that these two concepts complement each other, so that investments do not only consider financial returns.