Abstract
There are two purposes that want to be assessed in this paper. The first purpose is to indicate whether the moral hazard problems are occurred in the Indonesian Sharia Bank (The moral hazard in this paper is the Indirect Moral Hazard which is the negligence of bank in the financing process influencing the moral hazard problems of the debtor in the other side. The second purpose is to assess whether the financing policies in the Sharia Banking are influenced by profit sharing system. The data for assessing this paper are acquired from the monthly financial reports published by Sharia Banks such as BSM and BMI from January 200I to December 2004. The research based on the Error Correction Model in the long term shows that the increasing of allocation ratio of Murabahah to Musyarakah and Mudharabah results the increasing of non performing.financing ratio. It indicates that the moral hazard problems are occurred in BMI. The moral hazard indication demonstrates that bank is both less careful in financing and less incentive in monitoring process. It also demonstrates the weakness of the Sharia bank's operational system in countering the debtor's moral hazard. The Granger Causality Test proves that profit sharing ratio (nisbah) between bank and debtor influences return ratio, however it does not influence financing allocation). On the other hand, financing a/location ratio influences nisbah ratio, furthermore in BSM case, return ratio influences nisbah ratio. This description shows that nisbah ratio is not only an instrument for calculating revenue/return distribution but also an instrument for Sharia bank in synchronizing profit sharing level with the interest rate in conventional bank.
References
Bank Indonesia. Laporan Keuangan Publikasi BMI-BSM. www.bi.go.id.
Bank Indonesia. Pedoman Akuntansi Perbankan Syariah, PAPSI 2003. Bank Indonesia. Jakarta.
Bank Indonesia. Cetak Biru Pengembangan Perbankan Syariah Indonesia. Direktorat Perbankan Syariah. Bank Indonesia.
Bank Indonesia. Laporan Perkembangan Perbankan Syariah 2004. Direktorat Perbankan Syariah. Bank Indonesia. 2004.
Bank Muamalat Indonesia. Laporan Keuangan Publikasi BMI.
Bank Muamalat Indonesia. Laporan Keuangan Tahunan 2001-2004 Bank Muamalat Indonesia. Bank Muamalat Indonesia.
Bank Syariah Mandiri. Laporan Keuangan Tahunan 2001-2004 Bank Syariah Mandiri.
Bank Syariah Mandiri. Laporan Keuangan Publikasi BSM.
Antonio, Muhammad Syafei, Bank Syariah dari Teori ke Praktik.Jakarta; Gema lnsani Pers, 2001
Arifin, Zainul, Dasar-dasar Manajemen Bank Syariah. Jakarta. Jakarta Alvabet:2003.
Ali, H. Mashud, Asset liability Management: Menyiasati Risiko Pasar dan Risiko Operasional dalam Perbankan. Jakarta: Elex Media Komputindo, 2004.
Ali, Manzour, Islamic Banking and Finance in Theory and Practise, Lectures on Islamic Economics, Jeddah, IRTI, IDB. 1992.
Algaoud, Latifa M and Mervyn K. Lewis, Perbankan Syariah: Prinsip, Praktik, Prospek. Jakarta. PT Serambi Ilmu Semesta: 2003.
Arief, Sritua, Metodologi Penelitian Ekonomi. Jakarta. UI Press. 1993.
Aulia Felianty, Telisa, Exchange Rate Overshooting: Sebuah Studi Empiris di Indonesia dalam Sistem Nilai Tukar Mengambang. Tesis. Tidak dipublikasikan. Jakarta: PPS Ekonomi UI, 2003.
Barenberg, Andrew, Islamic Financing Impacts on Development and Equality. Oeconomicus. Volume VII. 2004-2005.
Chapra, M Umer, Sistem Moneter lslam, terjemahan. Jakarta; Gema lnsani Press, 2000.
Chapra, M. Umer, Islam dan Tantangan Ekonomi. Surabaya: Risalah Gusti. 1999
Chapra, M. Umer, The Future of Economics an Islamic Perspective. Jakarta, SEBI. 2001
Covitz, Daniel and Erick Hetfield, Monitoring, Moral Hazard and Market Power: A model of bank lending. 2004. Internet.
Dar, A. Humayon, David and Jbon Presley, Size, Probability, and Agency in Profit and Loss Sharing in Islamic Banking and Finance. A research papers.
Djafar, Mery K, dkk., Analisa ECM Purchasing Power Parity pada Kurs Rupiah terhadap Lima Mata Uang Asing Periode 1990-2000. Jurnal Riset Ekonomi dan Manajemen. Volume 3. No. 1. Januari, 2003.
Ding Lu, Shandre, Qing Hu, The Link Between Bank Behavior and Non Performing Loan in China. 2001. Intrenet.
Dreher, Axel, Does the IMF cause Moral Hazard? A critical review of the evidence. Paper. 2004. Internet.
Enders, Walter, Applied Econometrics Time Series. Canada; John Wiley & Sons, Inc., 1995.
Freixas, Xafier and Jean Charles Rochet, Microeconomics of Banking. London, The MIT Press: 1998.
Gaynor, Martin dan Paul Gertler, Moral Hazard and Risk Spreading in Partnership. 1995. Jurnal. Volume 26, No. 4.
Gujarati, Damodar N., Basic Econometrics. Third Edition. Singapore: Mc Graw- Hill, Inc., 1995.
Khan, Tariqullah and Habib Ahmed, Risk Management an Analysis of Issues in Islamic Financial Industry. Islamic Research and Training Institute, Islamic Development Bank: 2001.
Kittikuklsing, Suthep, Non Performing Loan (NPLs): The Borrower Viewpoints. 2002. Internet.
Karim, Adiwarman, Ekonomi Mikro Islami. Edisi kedua. Jakarta, IIIT Indonesia, 2003.
Karim, Adiwarman, Bank Islam: Analisis Fikih dan Keuangan. The International Institute of Islamic Thought. Jakarta: IIIT Indonesia, 2003.
Maddala, Introduction to Econometrics. Second Edition. Prentice Hall, Inc. 1992.
Moris, Goldstein, The Asian Financial Crisis. Policy Brief 98-1. Institute for International Economics. 1998. Internet.
Mannan, Abdul, Teori dan Praktek Ekonomi Islam, Yogyakarta. PT Dana Bhakti Prima Yasa. 1997.
Mohamad, Konstruksi Mudharabah dalam Bisnis Syariah: Mudharabah dalam Wacana Fiqh dan Praktik Ekonomi Modem. Yogyakarta, Pusat Studi Ekonomi Islam, Sekolah Tinggi Ilmu Syariah: 2003.
Muljawan, Dadang, Perbankan Syariah: Filosofi dan Operasi. Biro Perbankan Syariah, Bank Indonesia. 2001.
Muhammad, Bank Syariah: Analisis Kekuatan, Kelemahan, Peluang dan Ancaman. Yogyakarta: Penerbit Ekonisia. 2002.
D. Nachrowi, Nachrowi dan Hardius Usman, Penggunaan Teknik Ekonometri, Jakarta: PT Raja Gravindo Persada, 2002.
Nasution, Mustafa Edwin, Moral Hazard dalam Perbankan Syariah. Paper. Jakarta, 2005.
Pindyck, Robert S and Daniel Rubinfeld, Microeconomic. Fifth Edition. Prentice Hall International, Inc, 2001.
Previanti, Fitra, Optimasi Portofolio Asset Bank Syariah dalam Memaksimalkan Bagi Hasil (Studi Kasus pada PT Bank Syariah Mandiri). Tesis. Tidak dipublikasikan. Kekhususan Ekonomi dan Keuangan Syariah. Kajian Timur Tengah Islam. PPS. UI 2004.
Qardhawi, Yusuf, Norma dan Etika Ekonomi lslam, Jakarta: Gema Insani Press, 1997.
Saunders, Anthony and Cornett Marcia Millon, Financial Institution Management: A Risk Management Approach, Fourth Edition. New York, Mc Graw Hill, 2003.
Stadler, Ines Macho, and Castrillo J David Peres, An Introduction to The Economics of Information: Incentives and Contracts. Oxford. Oxford University Press. 1997.
Siregar, Mulya dan Nasirwan Ilyas, Penempatan Aktiva Produktif Bank Syariah, Jurnal Ekonomi dan Keuangan Syariah Muamalah. 2002.
Sudjono, Analisis Keseimbangan dan Hubungan Simultan antara Variabel Makro terhadap lndeks Harga Saham di Bursa Efek Jakarta dengan Metode VER (Vector Autoregression) dan ECM (Erros Correction Model). Jurnal Riset Ekonomi dan Manajemen, Vol: 2 No. 3, Hal. 81-97. 2002.
Suryanto, lrwan, Analisis Perilaku Nilai Tukar di Indonesia. Penerapan Model Dornbusch Overshooting. Tesis. Tidak dipublikasikan. Jakarta: PPS Ekonomi UI, 2003.
Torsten, Persson and Guido Tabellini, Federal Fiscal Constitution. Risk Sharing and Moral Hazard. Internet.
Usmani, M. Taqi, An Introduction to Islamic Finance. Karachi Pakistan: Idaratul Ma Arif. 1999.
Vogel, Frank E, and Samuel L. Hayes, Islamic law and Finance: Religion, Risk, and Return. The Hague. London. Boston Kluwer Law International.
www.bps.go.id
Wu, Chang and Sevilli, Banking System, Real Estate Markets, and Non Performing Loans. International Real Estate Review, Vol. 6 No. 1: pp. 43-62.2003.
Zuhri, Muhammad, Riba dalam Al Quran dan Masalah Perbankan (Sebuah Tilikan Antisipatif). Badan Penerbitan IAIN Walisongo Press. 1995.
Recommended Citation
Nasution, Mustafa Edwin and Wiliasih, Ranti
(2007)
"Profit Sharing dan Moral Hazard dalam Penyaluran Dana Pihak Ketiga Bank Umum Syariah di Indonesia,"
Jurnal Ekonomi dan Pembangunan Indonesia: Vol. 7:
No.
2, Article 6.
DOI: 10.7454/jepi.v7i2.2248
pp.231-255
Available at:
https://scholarhub.ui.ac.id/jepi/vol7/iss2/6
