Implementasi Prinsip Bagi Hasil Musyarakah Berdasarkan PSAK 406 pada PT. Bank Muamalat Indonesia,Tbk. di Kota Jambi

Abstract

This study aims to analyze the implementation of the Musyarakah profit-sharing principle based on PSAK 406 at PT Bank Muamalat Indonesia Tbk., Jambi Branch, as well as to identify the challenges encountered in its implementation. The study employed a qualitative approach using a case study method. Data were collected through observations, semi-structured interviews, and documentation, while data analysis followed the interactive model of data reduction, data display, and conclusion drawing. The findings reveal that the implementation of Musyarakah financing generally complies with the provisions of PSAK 406 regarding the recognition, measurement, presentation, and disclosure of Musyarakah transactions. The bank applies both revenue sharing and profit sharing methods depending on the characteristics and financial reporting capabilities of the customers. Furthermore, the determination of the profit-sharing ratio (nisbah) is conducted through mutual agreement between the bank and customers in accordance with Islamic principles of fairness and partnership. However, several challenges remain, including limited transparency in customers' financial reports, the misuse of financing funds, inadequate collateral value, and low public understanding of Musyarakah financing. These issues affect the effectiveness of risk management and the optimal implementation of profit-sharing financing. The study concludes that the implementation of the Musyarakah profit-sharing principle at PT Bank Muamalat Indonesia Tbk., Jambi Branch is generally in accordance with PSAK 406, although continuous improvements in governance, internal control, customer financial literacy, and monitoring systems are necessary to enhance the effectiveness and sustainability of Musyarakah financing