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All Journal ADILLA: Jurnal Ilmiah Ekonomi Syari'ah MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis
Fathmah Hanum
Universitas Islam Negeri Sunan Ampel Surabaya
Religion Arts Economics, Econometrics & Finance Education Social Sciences

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Analisis Pengaruh FDR dan BOPO terhadap Kinerja Keuangan (ROA dan ROE) pada Bank Syariah Indonesia Fathmah Hanum; Mugiyati Mugiyati; Muhamad Ahsan; Saiful Bakhri
MUQADDIMAH: Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis Vol. 4 No. 3 (2026): Jurnal Ekonomi, Manajemen, Akuntansi dan Bisnis
Publisher : LP3M INSTITUT KH YAZID KARIMULLAH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.59246/s3dqnp35

Abstract

The establishment of Bank Syariah Indonesia (BSI) through the merger of three state-owned Islamic banks marked a significant transformation in Indonesia’s Islamic banking industry, creating new challenges and opportunities related to profitability, financing expansion, and operational efficiency. Financial performance during the post-merger period can be evaluated through profitability indicators, particularly Return on Assets (ROA) and Return on Equity (ROE), which reflect management effectiveness in utilizing assets and shareholders’ equity. Quarterly financial statement data from 2021–2025 were analyzed using descriptive statistics, Pearson correlation, and multiple linear regression to examine the relationship between Financing to Deposit Ratio (FDR), Operational Efficiency Ratio (BOPO), and financial performance. The findings indicate that FDR is positively associated with profitability, suggesting that increased financing distribution contributes to improved financial returns. Conversely, BOPO demonstrates a strong negative relationship with both ROA and ROE, indicating that operational efficiency plays a decisive role in enhancing profitability. The regression results confirm that FDR and BOPO jointly explain a substantial proportion of variations in financial performance, with BOPO emerging as the more dominant determinant. These findings highlight that the success of BSI’s post-merger transformation is driven not only by financing growth but also by the ability to maintain operational efficiency. The study contributes empirical evidence on the financial dynamics of Indonesia’s largest Islamic bank during the post-pandemic recovery and institutional consolidation period.
Contract Construction and Risk Mitigation In Sharia Bullion Business Activities: Juridical Analysis Of DSN-MUI Fatwa NO. 166/2026 Fathmah Hanum; Muhammad Lathoif Ghozali
ADILLA : Jurnal Ilmiah Ekonomi Syari'ah Vol. 9 No. 2 (2026): Juli
Publisher : Universitas Islam Darul 'ulum Lamongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52166/adilla.v9i2.12759

Abstract

The issuance of DSN-MUI Fatwa Number 166/DSN-MUI/II/2026 on Bullion Business Activities Based on Sharia Principles on February 11, 2026, marks a new chapter in gold governance within Indonesia's Islamic financial institutions. This fatwa emerged as a response to the mandates of Law Number 4 of 2023 on the Development and Strengthening of the Financial Sector (P2SK Law) and OJK Regulation Number 17 of 2024, which explicitly permit banks—including Islamic banks—to conduct bullion business activities. This study employs a juridical-normative approach to examine two central issues: first, the construction of contracts (akad) for each bullion business activity (gold custody, savings, trading, and financing); second, relevant risk mitigation strategies encompassing market risk, sharia compliance risk, operational risk, and liquidity risk. Analysis reveals that Fatwa No. 166/2026 introduces complementary contract combinations—Wadiah Yad Dhamanah, Mudharabah, Qardh, Murabahah, Rahn, Ijarah, and Wakalah—that collectively accommodate all bullion business lines without violating riba principles. The key instruments of physical qabdh (delivery) and underlying asset guarantees constitute the primary differentiators of Islamic bullion from conventional gold trading practices. This study concludes that the fatwa provides comprehensive legitimacy for Islamic financial institutions to compete in the national gold ecosystem, while recommending integration of real-time information technology systems to ensure ongoing contract transparency.
Co-Authors M. Lathoif Ghozali Mugiyati Muhamad Ahsan Saiful Bakhri