Article Sidebar
Downloads
Main Article Content
Abstract
This study investigates the factors influencing murabahah margin income in Islamic commercial banks in Indonesia from 2013 to 2018, focusing on the BI Rate, overhead costs, and third-party funds (Dana Pihak Ketiga abbreviated DPK in Bahasa Indonesia). It aims to explore how these variables, individually and collectively, affect murabahah pricing, which is critical for ensuring competitiveness and adherence to Sharia principles in Islamic finance. A quantitative approach was employed, utilizing secondary data from quarterly financial reports of Islamic banks. Multiple linear regression analysis, complemented by classical assumption tests, was used to evaluate the relationships between the independent variables and murabahah margin income. The analysis ensures robust insights into the financial dynamics of Islamic banking. The findings reveal that overhead costs significantly and positively influence murabahah margin income, underscoring the role of operational efficiency in pricing. While the BI Rate demonstrated a positive association with murabahah margins, its effect was statistically insignificant, highlighting the need for alternative Sharia-compliant benchmarks. DPK exhibited a negative but insignificant relationship, suggesting that its liquidity impact on murabahah margins may be indirect and moderated by other factors. The combined analysis showed that these variables significantly influence murabahah margins collectively, with overhead costs being the most dominant determinant. These results emphasize the interplay between macroeconomic indicators and operational strategies in murabahah pricing. They highlight the need for operational efficiency, ethical benchmarks, and innovative deposit mobilization strategies. This study contributes to the broader discourse on Islamic finance, offering actionable insights for improving financial sustainability and aligning practices with Sharia principles.
Keywords
Article Details
Copyright (c) 2023 Rizky Gustianti, Yuli Andriansyah, Mowafg Masuwd
This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.
References
Abbasi, A. S. (2020). Shariah governance framework for IBIs: A critical analysis. Islamic Banking and Finance Review, 7, 1–18. https://doi.org/10.32350/ibfr/2020/0700/1116
Ahmed, A. (2010). Global financial crisis: An Islamic finance perspective. International Journal of Islamic and Middle Eastern Finance and Management, 3(4), 306–320. https://doi.org/10.1108/17538391011093252
Ainun, Moh. B. (2020). Behind the deviation of Islamic banks from shariah principles. The Indonesian Accounting Review, 10(1), 25–32. https://doi.org/10.14414/tiar.v10i1.1919
Andriansyah, Y. (2009). Kinerja keuangan perbankan syariah di Indonesia dan kontribusinya bagi pembangunan nasional [Financial performance of Islamic banking in Indonesia and its contribution to national development]. La_Riba, 3(2), 181–196. https://doi.org/10.20885/lariba.vol3.iss2.art4
Anik, A. (2017). Faktor yang berpengaruh terhadap margin murabahah pada Bank Syariah Mandiri periode 2013-2015 [Factors that affect murabahah margins at Bank Syariah Mandiri for the period 2013-2015]. Jurnal Ilmiah Ekonomi Islam, 3(1), 87–98. https://doi.org/10.29040/jiei.v3i01.102
Anisa, L. S., & Tripuspitorini, F. A. (2019). Analisis pengaruh dana pihak ketiga, non performing finance murabahah, dan inflasi terhadap pembiayaan murabahah pada bank umum syariah di Indonesia [Analysis of the effect of third party funds, non-performing finance murabahah, and inflation on murabahah financing at Islamic commercial banks in Indonesia]. Jurnal Maps (Manajemen Perbankan Syariah), 3(1), 52–64. https://doi.org/10.32627/maps.v3i1.141
Ariani, R. S., Parno, P., & Pratiwi, A. (2022). Pengaruh dana pihak ketiga (DPK), financing to deposit ratio (FDR), non performing financing (NPF) dan return on asset (ROA) terhadap total aset perbankan syariah di Indonesia [The effect of third party funds (TPF), financing to deposit ratio (FDR), non-performing financing (NPF) and return on assets (ROA) on total Islamic banking assets in Indonesia]. Etihad: Journal of Islamic Banking and Finance, 2(1), 32–46. https://doi.org/10.21154/etihad.v2i1.3958
Arumdhani, A., & Septiani, R. (2012). Pengaruh pembiayaan murabahah dan tingkat suku bunga BI terhadap pendapatan margin murabahah pada PT. Bank Syariah Mandiri [The effect of murabaha financing and the BI interest rate on murabaha margin income at PT. Bank Syariah Mandiri]. Jurnal Riset Akuntansi, 4(1), 23–46. https://ojs.unikom.ac.id/index.php/jira/article/view/1920
Aziza, R. V. S., & Mulazid, A. S. (2017). Analisis pengaruh dana pihak ketiga, non performing financing, capital adequacy ratio, modal sendiri dan marjin keuntungan terhadap pembiayaan murabahah [Analysis of the effect of third party funds, non-performing financing, capital adequacy ratio, own capital and profit margin on murabaha financing]. JEBI (Jurnal Ekonomi dan Bisnis Islam), 2(1), 1–15. https://doi.org/10.15548/jebi.v2i1.63
Diah, M., & Zulhamdi, Z. (2022). Implementasi murabahah pada perbankan syariah [Implementation of murabaha in Islamic banking]. Al-Hiwalah : Journal Syariah Economic Law, 1(1), 53–74. https://doi.org/10.47766/alhiwalah.v1i1.875
Dwiawani, P., & Sudarsono, H. (2021). Analisis determinan yang mempengaruhi pembiayaan murabahah pada bank umum syariah di Indonesia [Analysis of determinants affecting murabaha financing at Islamic commercial banks in Indonesia]. HUMAN FALAH: Jurnal Studi Ekonomi Dan Bisnis Islam, 8(1), 1–21. https://doi.org/10.30829/hf.v8i1.9354
Ekawati, K., & Shofawati, A. (2019). Faktor-faktor yang mempengaruhi tingkat margin murabahah pada industri perbankan syariah periode 2012-2017 [Factors affecting the level of murabahah margins in the Islamic banking industry for the period 2012-2017]. Jurnal Ekonomi Dan Bisnis Islam (Journal of Islamic Economics and Business), 5(1), 50–67. https://doi.org/10.20473/jebis.v5i1.10901
Erliyanti, E. (2022). Kajian teoritis pembiayaan mudharabah dan murabahah pada perbankan syariah [Theoretical study of mudharabah and murabahah financing in Islamic banking]. Ekonomi Bisnis Manajemen dan Akuntansi (EBMA), 3(2), 1113–1123. https://doi.org/10.36987/ebma.v3i2.4309
Febrilyantri, C., Amah, N., & Rizal, F. (2023). Pengaruh pembiayaan murabahah dan financing to debt ratio terhadap profitabilitas yang dimoderasi oleh non performing financing pada BTPN Syariah [The effect of murabaha financing and financing to debt ratio on profitability moderated by non-performing financing at BTPN Syariah.]. AL-MANHAJ: Jurnal Hukum Dan Pranata Sosial Islam, 5(2), 2335–2346. https://doi.org/10.37680/almanhaj.v5i2.3885
Fidyah, F. (2017). Analisis pendapatan margin murabahah pada Bank Muamalat Indonesia [Analysis of murabahah margin income at Bank Muamalat Indonesia]. Jurnal STIE Semarang, 9(1), 20–34. https://jurnal3.stiesemarang.ac.id/index.php/jurnal/article/view/27
Iqbal, Z., & Mirakhor, A. (1999). Progress and challenges of Islamic banking. Thunderbird International Business Review, 41(4–5), 381–405. https://doi.org/10.1002/tie.4270410406
Ismail, J., & Kadir, R. (2020). Determinan pembiayaan murabahah pada bank pembiayan rakyat syariah (BPRS) di Indonesia [Determinants of murabaha financing in Islamic rural banks in Indonesia]. Ekombis Sains: Jurnal Ekonomi, Keuangan dan Bisnis, 5(1), 1–10. https://doi.org/10.24967/ekombis.v5i1.674
Katmas, E., & Indarningsih, N. A. (2022). The effect of BI interest rate, exchange rate, and inflation on the Indonesian Sharia Stock Index (ISSI). Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 5(2), 769–783. https://doi.org/10.31538/iijse.v5i2.2144
Khan, M. M., & Bhatti, M. I. (2008). Development in Islamic banking: A financial risk‐allocation approach. The Journal of Risk Finance, 9(1), 40–51. https://doi.org/10.1108/15265940810842401
Khotmi, H. (2022). Pengaruh kinerja keuangan terhadap pembiayaan murabahah dengan dana pihak ketiga sebagai pemoderasi [The effect of financial performance on murabahah financing with third party funds as a moderator]. Jesya (Jurnal Ekonomi Dan Ekonomi Syariah), 5(1), 384–393. https://doi.org/10.36778/jesya.v5i1.602
Maulidina, Y., & Anita, W. F. (2022). Pengaruh inflasi dan BI Rate terhadap margin murabahah [The effect of inflation and BI Rate on murabahah margins]. Widya Akuntansi Dan Keuangan, 4(2), 100–113. https://doi.org/10.32795/widyaakuntansi.v4i02.2274
Mauluddi, H. A. (2020). Pengaruh biaya operasional, dana pihak ketiga dan non performing financing terhadap tingkat margin pembiayaan murabahah pada bank umum syariah di Indonesia. Jurnal Ekonomi Syariah, 5(2), 16–30. https://doi.org/10.37058/jes.v5i2.2190
Muchtar, M. (2021). Analisis risiko akad murabahah di perbankan syariah [Risk analysis of murabahah contracts in Islamic banking]. Info Artha, 5(1), 67–74. https://doi.org/10.31092/jia.v5i1.1246
Muhammad, R., Suluki, A., & Nugraheni, P. (2020). Internal factors and non-performing financing in Indonesian Islamic rural banks. Cogent Business & Management, 7(1), 1823583. https://doi.org/10.1080/23311975.2020.1823583
Muhlis, M. (2020). Penerapan pembiayaan murabahah dalam perbankan syariah [Application of murabaha financing in Islamic banking]. Islamic Banking, Economic and Financial Journal, 1(1), 56–69. https://journal3.uin-alauddin.ac.id/index.php/IBEF/article/view/19176
Musaroh, M., Margasari, N., Laili, N. N., & Pratama, M. R. G. G. (2020). The determinants of murabaha margin income in Islamic banking companies in Indonesia. Diponegoro International Journal of Business, 3(2), 123–130. https://doi.org/10.14710/dijb.3.2.2020.123-130
Mustikawati, Y., & Fikri, M. A. (2021). Pengaruh dana pihak ketiga, biaya operasional, BI Rate, dan inflasi pada pendapatan margin murabahah [The effect of third party funds, operating costs, BI Rate, and inflation on murabahah margin income]. Jurnal Ekonomi Syariah, Akuntansi Dan Perbankan (JESKaPe), 5(1), 121–139. https://doi.org/10.52490/jeskape.v5i1.1189
Nouman, M., Hashim, M., Trifan, V. A., Spinu, A. E., Siddiqi, M. F., & Khan, F. U. (2022). Interest rate volatility and financing of Islamic banks. PLOS ONE, 17(7), e0268906. https://doi.org/10.1371/journal.pone.0268906
Nurfitriani, Rizaldi, M., & Tanyong, A. (2022). Effect of inflation and BI Rate on murabahah financing in PT. Bank Syariah Indonesia. JEKSYAH (Islamic Economics Journal), 2(2), 90–101. https://doi.org/10.54045/jeksyah.v2i02.76
Nurhasanah, N., & Melzatia, S. (2019). Analysis of murabaha financing from influence of asset, deposit fund, and profitability. Journal of Economics and Business, 2(3), 618–626. https://doi.org/10.31014/aior.1992.02.03.112
Putri, S. D., & Setiyowati, S. W. (2023). Determinan pembiayaan murabahah dan non performing financing studi pada bank umum syariah di Indonesia [Determinants of murabahah financing and non-performing financing: Study on Islamic commercial banks in Indonesia]. Equilibrium: Jurnal Ekonomi-Manajemen-Akuntansi, 19(2), 127–138. https://doi.org/10.30742/equilibrium.v19i2.3069
Rahma, Y. (2016). Faktor-faktor yang mempengaruhi margin murabahah bank syariah di Indonesia [Factors affecting the murabahah margin of Islamic banks in Indonesia]. Akuntabilitas, 9(1), 43–54. https://doi.org/10.15408/akt.v9i1.3584
Ridlwan, A. A., & Kumala, F. O. N. (2022). The effect of the BI Rate on total Islamic bank financing in Indonesia for the 2014-2020 period with third party funds (TPF) as moderating variables. Iqtishoduna: Jurnal Ekonomi Islam, 11(2), 167–180. https://doi.org/10.54471/iqtishoduna.v11i2.1932
Rizqi, A. F., & Dardiri, M. (2021). Faktor – faktor yang berdampak terhadap pendapatan margin murabahah pada bank BRI Syariah periode 2012—2019 [Factors that have an impact on murabahah margin income at BRI Syariah bank for the period 2012—2019]. JIES : Journal of Islamic Economics Studies, 2(1), 56–67. https://doi.org/10.33752/jies.v2i1.327
Rosa, S. S., & Kusumawaty, M. (2021). Pengaruh pembiayaan murabahah dan suku bunga BI terhadap pendapatan margin murabahah perbankan syariah (Studi pada BUS di Indonesia) [The effect of murabaha financing and BI interest rates on Islamic banking murabaha margin income (Study on Islamic commercial banks in Indonesia)]. Jurnal Akuntansi Dan Keuangan, 24(2), 118–131. https://doi.org/10.23960/jak.v24i2.4
Rosyida, N. (2018). Analisa kebijakan dalam penetapan margin pada pembiayaan murabahah di PT. BPRS Amanah Ummah [Policy analysis in setting margins on murabahah financing at PT. BPRS Amanah Ummah]. Al-Infaq: Jurnal Ekonomi Islam, 5(1), 130–174. https://doi.org/10.32507/ajei.v5i1.330
Safitri, I., & Kurnia, M. R. (2022). The effect of BI Rate and inflation on mudharabah deposits at Indonesian Sharia banks. Journal of Business and Economics Research (JBE), 3(2), 77–81. https://doi.org/10.47065/jbe.v3i2.1679
Saleh, A. O. H., Abdirasak, A., Zakariyah, H., & Taoufiq, E. A. (2021). Shariah supervision controls of Islamic banks: A critical analytical study. In B. Alareeni, A. Hamdan, & I. Elgedawy (Eds.), The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries (Vol. 194, pp. 1639–1653). Springer International Publishing. https://doi.org/10.1007/978-3-030-69221-6_120
Saraç, M., & Zeren, F. (2015). The dependency of Islamic bank rates on conventional bank interest rates: Further evidence from Turkey. Applied Economics, 47(7), 669–679. https://doi.org/10.1080/00036846.2014.978076
Septiatin, A. (2022). Influence of third party funds, BI Rate, inflation on market share in Islamic banking. Al-Masharif: Jurnal Ilmu Ekonomi Dan Keislaman, 10(1), 1–16. https://doi.org/10.24952/masharif.v10i1.5706
Serwadda, I. (2018). Determinants of commercial banks’ profitability. Evidence from Hungary. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 66(5), 1325–1335. https://doi.org/10.11118/actaun201866051325
Siregar, R. A., Siregar, F. A. A. T., & Chairina, C. (2022). Studi literatur pembiayaan murabahah pada perbankan syariah di Indonesia [Literature study on murabaha financing in Islamic banking in Indonesia]. Aghniya: Jurnal Ekonomi Islam, 4(2), 275–282. https://doi.org/10.30596/aghniya.v4i2.12808
Wahyuni, A. P., Mulyany, R., & Zuhri, Z. H. (2021). What determines murabahah margin income? Evidence from Islamic commercial banks in Indonesia. Advances in Business Research International Journal, 7(1), 22–32. https://doi.org/10.24191/abrij.v7i1.11996
Widarjono, A., & Mardhiyah, Z. (2022). Profit-loss sharing financing and stability of Indonesian Islamic banking. International Journal of Islamic Business and Economics (IJIBEC), 6(1), 1–16. https://doi.org/10.28918/ijibec.v6i1.4196
Yudiansyah, E. (2014). Pengaruh suku bunga Bank Indonesia dan pembiayaan murabahah terhadap pendapatan margin murabahah (Studi kasus pada PT. Bank Syariah Mandiri, Tbk tahun 2010-2012) [The effect of Bank Indonesia interest rates and murabaha financing on murabaha margin income (Case study at PT. Bank Syariah Mandiri, Tbk in 2010-2012)] [Bachelor’s thesis, Universitas Komputer Indonesia]. http://elib.unikom.ac.id/gdl.php?mod=browse&op=read&id=jbptunikompp-gdl-erwinyudia-34394
Yulianto, A., Nurdin, A. A., & Mayasari, I. (2021). Faktor yang memengaruhi pendapatan margin murabahah pada bank umum syariah dan unit usaha syariah [Factors affecting murabahah margin income at Islamic commercial banks and Islamic business units]. Journal of Applied Islamic Economics and Finance, 1(2), 398–411. https://doi.org/10.35313/jaief.v1i2.2473
Yusuf, M., & Sari, R. K. (2013). Analisis faktor-faktor yang memengaruhi tingkat perolehan margin dengan akad murabahah pada Bank Syariah X [Analysis of factors affecting the level of margin earning with murabaha contracts at Islamic Bank X]. Binus Business Review, 4(2), 687–696. https://doi.org/10.21512/bbr.v4i2.1382
Zamroni, M. A., Purwati, L., & Kausar, S. (2023). Implementation of murabahah in Sharia banks according to the Al-Qur’an Surah Al-Baqarah verse 275. Dirasah International Journal of Islamic Studies, 1(2), 57–67. https://doi.org/10.59373/drs.v1i2.5
Zulpahmi, Z., & Rizqiana, E. (2018). Pengaruh biaya operasional, Dana Pihak Ketiga (DPK), dan Non Peforming Financing (NPF) terhadap margin murabahah pada bank umum syariah di Indonesia [The effect of operating costs, third party funds (TPF), and non-performing financing (NPF) on murabahah margins at Islamic commercial banks in Indonesia]. Jurnal Ekonomi & Keuangan Islam, 4(2), 81–86. https://doi.org/10.20885/jeki.vol4.iss2.art4
References
Abbasi, A. S. (2020). Shariah governance framework for IBIs: A critical analysis. Islamic Banking and Finance Review, 7, 1–18. https://doi.org/10.32350/ibfr/2020/0700/1116
Ahmed, A. (2010). Global financial crisis: An Islamic finance perspective. International Journal of Islamic and Middle Eastern Finance and Management, 3(4), 306–320. https://doi.org/10.1108/17538391011093252
Ainun, Moh. B. (2020). Behind the deviation of Islamic banks from shariah principles. The Indonesian Accounting Review, 10(1), 25–32. https://doi.org/10.14414/tiar.v10i1.1919
Andriansyah, Y. (2009). Kinerja keuangan perbankan syariah di Indonesia dan kontribusinya bagi pembangunan nasional [Financial performance of Islamic banking in Indonesia and its contribution to national development]. La_Riba, 3(2), 181–196. https://doi.org/10.20885/lariba.vol3.iss2.art4
Anik, A. (2017). Faktor yang berpengaruh terhadap margin murabahah pada Bank Syariah Mandiri periode 2013-2015 [Factors that affect murabahah margins at Bank Syariah Mandiri for the period 2013-2015]. Jurnal Ilmiah Ekonomi Islam, 3(1), 87–98. https://doi.org/10.29040/jiei.v3i01.102
Anisa, L. S., & Tripuspitorini, F. A. (2019). Analisis pengaruh dana pihak ketiga, non performing finance murabahah, dan inflasi terhadap pembiayaan murabahah pada bank umum syariah di Indonesia [Analysis of the effect of third party funds, non-performing finance murabahah, and inflation on murabahah financing at Islamic commercial banks in Indonesia]. Jurnal Maps (Manajemen Perbankan Syariah), 3(1), 52–64. https://doi.org/10.32627/maps.v3i1.141
Ariani, R. S., Parno, P., & Pratiwi, A. (2022). Pengaruh dana pihak ketiga (DPK), financing to deposit ratio (FDR), non performing financing (NPF) dan return on asset (ROA) terhadap total aset perbankan syariah di Indonesia [The effect of third party funds (TPF), financing to deposit ratio (FDR), non-performing financing (NPF) and return on assets (ROA) on total Islamic banking assets in Indonesia]. Etihad: Journal of Islamic Banking and Finance, 2(1), 32–46. https://doi.org/10.21154/etihad.v2i1.3958
Arumdhani, A., & Septiani, R. (2012). Pengaruh pembiayaan murabahah dan tingkat suku bunga BI terhadap pendapatan margin murabahah pada PT. Bank Syariah Mandiri [The effect of murabaha financing and the BI interest rate on murabaha margin income at PT. Bank Syariah Mandiri]. Jurnal Riset Akuntansi, 4(1), 23–46. https://ojs.unikom.ac.id/index.php/jira/article/view/1920
Aziza, R. V. S., & Mulazid, A. S. (2017). Analisis pengaruh dana pihak ketiga, non performing financing, capital adequacy ratio, modal sendiri dan marjin keuntungan terhadap pembiayaan murabahah [Analysis of the effect of third party funds, non-performing financing, capital adequacy ratio, own capital and profit margin on murabaha financing]. JEBI (Jurnal Ekonomi dan Bisnis Islam), 2(1), 1–15. https://doi.org/10.15548/jebi.v2i1.63
Diah, M., & Zulhamdi, Z. (2022). Implementasi murabahah pada perbankan syariah [Implementation of murabaha in Islamic banking]. Al-Hiwalah : Journal Syariah Economic Law, 1(1), 53–74. https://doi.org/10.47766/alhiwalah.v1i1.875
Dwiawani, P., & Sudarsono, H. (2021). Analisis determinan yang mempengaruhi pembiayaan murabahah pada bank umum syariah di Indonesia [Analysis of determinants affecting murabaha financing at Islamic commercial banks in Indonesia]. HUMAN FALAH: Jurnal Studi Ekonomi Dan Bisnis Islam, 8(1), 1–21. https://doi.org/10.30829/hf.v8i1.9354
Ekawati, K., & Shofawati, A. (2019). Faktor-faktor yang mempengaruhi tingkat margin murabahah pada industri perbankan syariah periode 2012-2017 [Factors affecting the level of murabahah margins in the Islamic banking industry for the period 2012-2017]. Jurnal Ekonomi Dan Bisnis Islam (Journal of Islamic Economics and Business), 5(1), 50–67. https://doi.org/10.20473/jebis.v5i1.10901
Erliyanti, E. (2022). Kajian teoritis pembiayaan mudharabah dan murabahah pada perbankan syariah [Theoretical study of mudharabah and murabahah financing in Islamic banking]. Ekonomi Bisnis Manajemen dan Akuntansi (EBMA), 3(2), 1113–1123. https://doi.org/10.36987/ebma.v3i2.4309
Febrilyantri, C., Amah, N., & Rizal, F. (2023). Pengaruh pembiayaan murabahah dan financing to debt ratio terhadap profitabilitas yang dimoderasi oleh non performing financing pada BTPN Syariah [The effect of murabaha financing and financing to debt ratio on profitability moderated by non-performing financing at BTPN Syariah.]. AL-MANHAJ: Jurnal Hukum Dan Pranata Sosial Islam, 5(2), 2335–2346. https://doi.org/10.37680/almanhaj.v5i2.3885
Fidyah, F. (2017). Analisis pendapatan margin murabahah pada Bank Muamalat Indonesia [Analysis of murabahah margin income at Bank Muamalat Indonesia]. Jurnal STIE Semarang, 9(1), 20–34. https://jurnal3.stiesemarang.ac.id/index.php/jurnal/article/view/27
Iqbal, Z., & Mirakhor, A. (1999). Progress and challenges of Islamic banking. Thunderbird International Business Review, 41(4–5), 381–405. https://doi.org/10.1002/tie.4270410406
Ismail, J., & Kadir, R. (2020). Determinan pembiayaan murabahah pada bank pembiayan rakyat syariah (BPRS) di Indonesia [Determinants of murabaha financing in Islamic rural banks in Indonesia]. Ekombis Sains: Jurnal Ekonomi, Keuangan dan Bisnis, 5(1), 1–10. https://doi.org/10.24967/ekombis.v5i1.674
Katmas, E., & Indarningsih, N. A. (2022). The effect of BI interest rate, exchange rate, and inflation on the Indonesian Sharia Stock Index (ISSI). Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE), 5(2), 769–783. https://doi.org/10.31538/iijse.v5i2.2144
Khan, M. M., & Bhatti, M. I. (2008). Development in Islamic banking: A financial risk‐allocation approach. The Journal of Risk Finance, 9(1), 40–51. https://doi.org/10.1108/15265940810842401
Khotmi, H. (2022). Pengaruh kinerja keuangan terhadap pembiayaan murabahah dengan dana pihak ketiga sebagai pemoderasi [The effect of financial performance on murabahah financing with third party funds as a moderator]. Jesya (Jurnal Ekonomi Dan Ekonomi Syariah), 5(1), 384–393. https://doi.org/10.36778/jesya.v5i1.602
Maulidina, Y., & Anita, W. F. (2022). Pengaruh inflasi dan BI Rate terhadap margin murabahah [The effect of inflation and BI Rate on murabahah margins]. Widya Akuntansi Dan Keuangan, 4(2), 100–113. https://doi.org/10.32795/widyaakuntansi.v4i02.2274
Mauluddi, H. A. (2020). Pengaruh biaya operasional, dana pihak ketiga dan non performing financing terhadap tingkat margin pembiayaan murabahah pada bank umum syariah di Indonesia. Jurnal Ekonomi Syariah, 5(2), 16–30. https://doi.org/10.37058/jes.v5i2.2190
Muchtar, M. (2021). Analisis risiko akad murabahah di perbankan syariah [Risk analysis of murabahah contracts in Islamic banking]. Info Artha, 5(1), 67–74. https://doi.org/10.31092/jia.v5i1.1246
Muhammad, R., Suluki, A., & Nugraheni, P. (2020). Internal factors and non-performing financing in Indonesian Islamic rural banks. Cogent Business & Management, 7(1), 1823583. https://doi.org/10.1080/23311975.2020.1823583
Muhlis, M. (2020). Penerapan pembiayaan murabahah dalam perbankan syariah [Application of murabaha financing in Islamic banking]. Islamic Banking, Economic and Financial Journal, 1(1), 56–69. https://journal3.uin-alauddin.ac.id/index.php/IBEF/article/view/19176
Musaroh, M., Margasari, N., Laili, N. N., & Pratama, M. R. G. G. (2020). The determinants of murabaha margin income in Islamic banking companies in Indonesia. Diponegoro International Journal of Business, 3(2), 123–130. https://doi.org/10.14710/dijb.3.2.2020.123-130
Mustikawati, Y., & Fikri, M. A. (2021). Pengaruh dana pihak ketiga, biaya operasional, BI Rate, dan inflasi pada pendapatan margin murabahah [The effect of third party funds, operating costs, BI Rate, and inflation on murabahah margin income]. Jurnal Ekonomi Syariah, Akuntansi Dan Perbankan (JESKaPe), 5(1), 121–139. https://doi.org/10.52490/jeskape.v5i1.1189
Nouman, M., Hashim, M., Trifan, V. A., Spinu, A. E., Siddiqi, M. F., & Khan, F. U. (2022). Interest rate volatility and financing of Islamic banks. PLOS ONE, 17(7), e0268906. https://doi.org/10.1371/journal.pone.0268906
Nurfitriani, Rizaldi, M., & Tanyong, A. (2022). Effect of inflation and BI Rate on murabahah financing in PT. Bank Syariah Indonesia. JEKSYAH (Islamic Economics Journal), 2(2), 90–101. https://doi.org/10.54045/jeksyah.v2i02.76
Nurhasanah, N., & Melzatia, S. (2019). Analysis of murabaha financing from influence of asset, deposit fund, and profitability. Journal of Economics and Business, 2(3), 618–626. https://doi.org/10.31014/aior.1992.02.03.112
Putri, S. D., & Setiyowati, S. W. (2023). Determinan pembiayaan murabahah dan non performing financing studi pada bank umum syariah di Indonesia [Determinants of murabahah financing and non-performing financing: Study on Islamic commercial banks in Indonesia]. Equilibrium: Jurnal Ekonomi-Manajemen-Akuntansi, 19(2), 127–138. https://doi.org/10.30742/equilibrium.v19i2.3069
Rahma, Y. (2016). Faktor-faktor yang mempengaruhi margin murabahah bank syariah di Indonesia [Factors affecting the murabahah margin of Islamic banks in Indonesia]. Akuntabilitas, 9(1), 43–54. https://doi.org/10.15408/akt.v9i1.3584
Ridlwan, A. A., & Kumala, F. O. N. (2022). The effect of the BI Rate on total Islamic bank financing in Indonesia for the 2014-2020 period with third party funds (TPF) as moderating variables. Iqtishoduna: Jurnal Ekonomi Islam, 11(2), 167–180. https://doi.org/10.54471/iqtishoduna.v11i2.1932
Rizqi, A. F., & Dardiri, M. (2021). Faktor – faktor yang berdampak terhadap pendapatan margin murabahah pada bank BRI Syariah periode 2012—2019 [Factors that have an impact on murabahah margin income at BRI Syariah bank for the period 2012—2019]. JIES : Journal of Islamic Economics Studies, 2(1), 56–67. https://doi.org/10.33752/jies.v2i1.327
Rosa, S. S., & Kusumawaty, M. (2021). Pengaruh pembiayaan murabahah dan suku bunga BI terhadap pendapatan margin murabahah perbankan syariah (Studi pada BUS di Indonesia) [The effect of murabaha financing and BI interest rates on Islamic banking murabaha margin income (Study on Islamic commercial banks in Indonesia)]. Jurnal Akuntansi Dan Keuangan, 24(2), 118–131. https://doi.org/10.23960/jak.v24i2.4
Rosyida, N. (2018). Analisa kebijakan dalam penetapan margin pada pembiayaan murabahah di PT. BPRS Amanah Ummah [Policy analysis in setting margins on murabahah financing at PT. BPRS Amanah Ummah]. Al-Infaq: Jurnal Ekonomi Islam, 5(1), 130–174. https://doi.org/10.32507/ajei.v5i1.330
Safitri, I., & Kurnia, M. R. (2022). The effect of BI Rate and inflation on mudharabah deposits at Indonesian Sharia banks. Journal of Business and Economics Research (JBE), 3(2), 77–81. https://doi.org/10.47065/jbe.v3i2.1679
Saleh, A. O. H., Abdirasak, A., Zakariyah, H., & Taoufiq, E. A. (2021). Shariah supervision controls of Islamic banks: A critical analytical study. In B. Alareeni, A. Hamdan, & I. Elgedawy (Eds.), The Importance of New Technologies and Entrepreneurship in Business Development: In The Context of Economic Diversity in Developing Countries (Vol. 194, pp. 1639–1653). Springer International Publishing. https://doi.org/10.1007/978-3-030-69221-6_120
Saraç, M., & Zeren, F. (2015). The dependency of Islamic bank rates on conventional bank interest rates: Further evidence from Turkey. Applied Economics, 47(7), 669–679. https://doi.org/10.1080/00036846.2014.978076
Septiatin, A. (2022). Influence of third party funds, BI Rate, inflation on market share in Islamic banking. Al-Masharif: Jurnal Ilmu Ekonomi Dan Keislaman, 10(1), 1–16. https://doi.org/10.24952/masharif.v10i1.5706
Serwadda, I. (2018). Determinants of commercial banks’ profitability. Evidence from Hungary. Acta Universitatis Agriculturae et Silviculturae Mendelianae Brunensis, 66(5), 1325–1335. https://doi.org/10.11118/actaun201866051325
Siregar, R. A., Siregar, F. A. A. T., & Chairina, C. (2022). Studi literatur pembiayaan murabahah pada perbankan syariah di Indonesia [Literature study on murabaha financing in Islamic banking in Indonesia]. Aghniya: Jurnal Ekonomi Islam, 4(2), 275–282. https://doi.org/10.30596/aghniya.v4i2.12808
Wahyuni, A. P., Mulyany, R., & Zuhri, Z. H. (2021). What determines murabahah margin income? Evidence from Islamic commercial banks in Indonesia. Advances in Business Research International Journal, 7(1), 22–32. https://doi.org/10.24191/abrij.v7i1.11996
Widarjono, A., & Mardhiyah, Z. (2022). Profit-loss sharing financing and stability of Indonesian Islamic banking. International Journal of Islamic Business and Economics (IJIBEC), 6(1), 1–16. https://doi.org/10.28918/ijibec.v6i1.4196
Yudiansyah, E. (2014). Pengaruh suku bunga Bank Indonesia dan pembiayaan murabahah terhadap pendapatan margin murabahah (Studi kasus pada PT. Bank Syariah Mandiri, Tbk tahun 2010-2012) [The effect of Bank Indonesia interest rates and murabaha financing on murabaha margin income (Case study at PT. Bank Syariah Mandiri, Tbk in 2010-2012)] [Bachelor’s thesis, Universitas Komputer Indonesia]. http://elib.unikom.ac.id/gdl.php?mod=browse&op=read&id=jbptunikompp-gdl-erwinyudia-34394
Yulianto, A., Nurdin, A. A., & Mayasari, I. (2021). Faktor yang memengaruhi pendapatan margin murabahah pada bank umum syariah dan unit usaha syariah [Factors affecting murabahah margin income at Islamic commercial banks and Islamic business units]. Journal of Applied Islamic Economics and Finance, 1(2), 398–411. https://doi.org/10.35313/jaief.v1i2.2473
Yusuf, M., & Sari, R. K. (2013). Analisis faktor-faktor yang memengaruhi tingkat perolehan margin dengan akad murabahah pada Bank Syariah X [Analysis of factors affecting the level of margin earning with murabaha contracts at Islamic Bank X]. Binus Business Review, 4(2), 687–696. https://doi.org/10.21512/bbr.v4i2.1382
Zamroni, M. A., Purwati, L., & Kausar, S. (2023). Implementation of murabahah in Sharia banks according to the Al-Qur’an Surah Al-Baqarah verse 275. Dirasah International Journal of Islamic Studies, 1(2), 57–67. https://doi.org/10.59373/drs.v1i2.5
Zulpahmi, Z., & Rizqiana, E. (2018). Pengaruh biaya operasional, Dana Pihak Ketiga (DPK), dan Non Peforming Financing (NPF) terhadap margin murabahah pada bank umum syariah di Indonesia [The effect of operating costs, third party funds (TPF), and non-performing financing (NPF) on murabahah margins at Islamic commercial banks in Indonesia]. Jurnal Ekonomi & Keuangan Islam, 4(2), 81–86. https://doi.org/10.20885/jeki.vol4.iss2.art4