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All Journal Islam Futura Studia Economica: Jurnal Ekonomi Islam Jurnal Ilmiah Peuradeun JEM: JURNAL EKONOMI DAN MANAJEMEN Islam Universalia : International Journal of Islamic Studies and Social Sciences Ihtiyath : Jurnal Manajemen Keuangan Syariah AT-TASYRI' Jurnal Ilmiah Prodi Muamalah JIHBIZ :Global Journal of Islamic Banking and Finance. Jurnal Investasi Islam Prosiding Seminar Nasional Universitas Serambi Mekkah Mutanaqishah: Journal of Islamic Banking Jurnal Perbankan Syariah Darussalam (JPSDa) Maqrizi : Journal of Economics and Islamic Economics EKOBIS SYARIAH Jurnal Akuntansi Syariah Jurnal Pengabdian Masyarakat ISEI
Muksal Muksal
Universitas Islam Negeri Ar-Raniry Banda Aceh
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MANAGING FINANCING RISK OF ISLAMIC BANKING PRODUCTS IN INDONESIA: A VALUE AT RISK APPROACH Sari, Nilam; Ibrahim, Azharsyah; Muzammil, Muzammil; Muksal, Muksal
Islam Futura Vol 24 No 1 (2024): Jurnal Ilmiah Islam Futura
Publisher : Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/jiif.v24i1.17693

Abstract

This study aims to assess the potential risk and anticipated returns of equity and debt-based financing products in Islamic banking in Indonesia, represented by the three most prevalent contracts: musharakah, mudharabah, and murabahah. Data was collected from banks' monthly financial reports published on the Indonesia Financial Service Authority (OJK) website from 2014 to 2020, resulting in 82 observations. Data analysis was conducted using the Value at Risk (VaR) method with the variance-covariance approach. Among many methods, VaR is one of the most popular techniques that yields the most comprehensive results in measuring risk and return. The findings reveal that, in general, all equity and debt-based financing yielded stable risk and returns. However, equity-based financing produced higher returns, but also generated higher risks due to its uncertain nature. The results also demonstrate that risk management in Islamic banks improved gradually during the observation period, as indicated by the average score of portfolio combinations. These findings suggest that Islamic banks should balance their product offerings between equity-based financing and debt-based financing while simultaneously strengthening risk management, especially for murabahah products in equity-based financing.
Co-Authors Afdiani, Sri Amalia, Zikra Analiansyah Aspira, Muizatul Ayumiati Ayumiati, Ayumiati Azharsyah Ibrahim Cahyani, Aulia Dwi Oktavia Eddy Gunawan Eddy Gunawan, Eddy Evriyenni Fariza, Cut Gultom, Muhammad Aidil Hafas Furqani Hasnita, Nevi Humaira, Annisa Ikhsan Fajri Ikhsan Fajri, Ikhsan Ilham Fachreza Indradewa, Rhian Ismuadi Ismuadi Isnaliana Isnaliana M Shabri Abd Majid M Shabri Abd Majid Maisyura, Annisva Maya Ariska Yusuf Mirna Indriani Mirna Indriani Muhammad Arifin Muhammad Zulhilmi Muzammil, Muzammil Nilam Sari Nirzalin Putri Nazirah Rahmatika, Ulia Ramly, Arroyyan Riska Jaya Mustika Rony, Zahara Tussoleha Sartika, Ayu Teuku Meldi Kesuma Wahyuddin Wahyuddin Wahyuddin Wahyuddin Yuliadra, Teuku Fariz Yusuf, Maya Ariska Zakiiya, Ghulaman