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All Journal Jurnal Ekonomi & Keuangan Islam EAJ (ECONOMICS AND ACCOUNTING JOURNAL) ASIAN JOURNAL OF ISLAMIC MANAGEMENT (AJIM) Jurnal PKM Manajemen Bisnis Jurnal Nusa Akuntansi
Afriadi, Fiqih
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences Other

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Journal : Jurnal Ekonomi

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Islamic rural bank mission drift: Equity financing vs debt-based financing Afriadi, Fiqih; Pranoto, Pranoto; Kurniawaty, Erlita; Zamzami, R. Mohd.
Jurnal Ekonomi & Keuangan Islam Volume 10 No. 1, January 2024
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JEKI.vol10.iss1.art4

Abstract

Purpose – This study aims to compare the depth of outreach, financial performance, and trade-off between the depth of outreach and financial performance (mission drift) between equity financing and debt-based financing in Indonesian Islamic Rural Banks.Methodology – We compare the depth of outreach and financial performance using descriptive statistics and explore mission drift comparisons using OLS time series. Findings – The depth of the outreach comparison shows that debt-based financing performs better. However, equity financing outperforms financial performance. The regression results show mission drift in Musharaka and Multiservice financing, indicating that both sides have mission drift. However, there is no mission drift in Murabaha financing, which constitutes the majority of financing in Indonesian Islamic Rural Banks. Murabaha financing synchronously demonstrates excellent depth of outreach and financial performance.Implications – Islamic Rural Banks in Indonesia need product innovation in equity financing to obtain a better depth of outreach and avoid mission drift. The simplicity of the practice in Murabaha can be a reference for product innovation in Islamic Rural Banks, while the government can support Indonesian Islamic Rural Banks' product innovation by providing appropriate regulations.Originality – This study seeks to fill the comparison gap between mission drifts in Indonesian Islamic rural bank financing. There is a limitation in studies of Islamic rural bank financing mission drifts in Indonesia since the comparison of mission drift deals only with Islamic microfinance at a global level.
Co-Authors Ambarita, Dinar Arini, Dewi Ulfah Ash Shidiqie, Jannahar Saddam Caroline, Vanessa Febriyanto, Fery Citra Fitriyani, Yeny Habibah Habibah Hasan, Julian Muhammad Hunein, Hamida Ikawati, Retty Kurniawaty, Erlita Lidasan, Mussolini Sinsuat Margie, Lyandra Aisyah Nurullah, Mawardi Pranoto Pranoto Prasetya, Eka Rima Prima Sadewa Rusdi Rusdi Saragih, Muhammad Rizal Septiningrum, Liana Dwi Sujarwo Sujarwo Tri Utami Yudawirawan, Moh. Yuddy Zamzami, R. Mohd.