ANALISIS RISIKO PEMBIAYAAN MUDHARABAH DAN STRATEGI MITIGASINYA PADA LEMBAGA KEUANGAN SYARIAH: KAJIAN KUALITATIF DALAM PERSPEKTIF EKONOMI SYARIAH
Keywords:
Mudharabah Financing, Risk Management, Risk Mitigation, Islamic Finance, Maqashid ShariahAbstract
Mudharabah financing is a fundamental pillar of the Islamic financial system, reflecting the essence of justice through its profit-and-loss sharing (PLS) mechanism. However, its contribution to the portfolio of Islamic financial institutions remains relatively low. This library research employs a qualitative-normative approach to analyze the factors contributing to the high risks associated with mudharabah financing and to formulate risk mitigation strategies that are consistent with Islamic principles. The findings reveal that the high level of risk in mudharabah financing is primarily driven by behavioral issues, such as moral hazard manifested in the manipulation of financial reports, as well as structural constraints arising from asymmetric information due to the limited ability of Islamic banks to intervene in the management activities of customers. To address this anomaly, Islamic financial institutions must implement comprehensive risk mitigation strategies, including rigorous character assessment, periodic monitoring, and the utilization of integrated information technology systems. From the perspective of Islamic economics, these mitigation strategies are aligned with the principle of Al-Ghunm bi al-Ghurm (gain is accompanied by risk) and the ethical value of amanah (trustworthiness). Effective risk management in mudharabah contracts is not merely a business strategy but also an implementation of Maqashid Shariah in safeguarding public wealth (Hifz al-Mal) while promoting equitable economic growth in the real sector.
References
Arifin, S. (2018). Strategi perbankan syariah dalam menghadapi pembiayaan dengan akad mudharabah yang bermasalah (Studi di BRI Syariah Pamekasan). Jurnal Justisia Ekonomika: Magister Hukum Ekonomi Syariah, 2(1). https://doi.org/10.30651/justeko.v2i1.1698
Arsiti, N., & Asmuni. (2025). Application of the principle of Al-Adah Muhakkamah in mudharabah practice. AJIS: Academic Journal of Islamic Studies, 9(2), 478–495. https://doi.org/10.29240/ajis.v9i2.10939
Badeeu, F. N., & Muneeza, A. (2023). Striving for authenticity: Enhancing shariah-compliance in home financing products within Malaysia’s Islamic finance industry. International Journal of Islamic Economics and Finance Research, (1), 48–62. https://doi.org/10.53840/ijiefer112
Haryono, E., Suprihatiningsih, S., Septian, D., Widodo, J., Ashar, A., & Sariman, S. (2024). New paradigm metode penelitian kepustakaan (library research) di perguruan tinggi. An-Nuur, 14(1). https://doi.org/10.58403/annuur.v14i1.391
Indrianawati, I., Lailah, N., & Karina, D. (2015). Manajemen risiko pembiayaan mudharabah pada perbankan syariah. Journal of Innovation in Business and Economics, 6(1), 55–66. https://doi.org/10.22219/JIBE.Vol6.No1.55-66
Lamusu, S., Rahman, A. F., & Adib, N. (2021). Sharia conformity for mudharabah financing practices in sharia banks based on the DSN-MUI Fatwa Number 07 Year 2000: A case study. International Journal of Research in Business and Social Science, 10(4), 239–248. https://doi.org/10.20525/ijrbs.v10i4.1201
Lestari, M. D., Saputra, R. D., & Ardana, A. P. (2025). Analisis konsep dan implementasi akad al-mudharabah dalam lembaga keuangan syariah. Jurnal Semesta Ilmu Manajemen dan Ekonomi, 2(2), 582–590. https://doi.org/10.71417/j-sime.v2i2.1198
Miah, M. D., & Suzuki, Y. (2020). Murabaha syndrome of Islamic banks: A paradox or product of the system? Journal of Islamic Accounting and Business Research, 11(7), 1363–1378. https://doi.org/10.1108/JIABR-05-2018-0067
Mohieldin, M., Iqbal, Z., Rostom, A., & Fu, X. (2011). The role of Islamic finance in enhancing financial inclusion in Organization of Islamic Cooperation (OIC) countries. World Bank. https://doi.org/10.1596/1813-9450-5920
Muhajil, A., Asril, A., & Azhar, Z. (2024). Peran dan tantangan perbankan syariah dalam sistem keuangan global. JIMMI: Jurnal Ilmiah Mahasiswa Multidisiplin, 1(1), 13–23. https://doi.org/10.71153/jimmi.v1i1.98
Muslina, M., & Syahputra, A. (2021). Risk mitigation effects for mudhārabah financing accounting treatment (Case study at Bank “YIX” in Aceh). Jurnal Al-Qardh, 6(2), 1–13. https://doi.org/10.23971/jaq.v6i2.3144
Nabila, V. (2023). Analysis of mudharabah contracts in sharia banking. MORFAI Journal, 3(2), 238–246. https://doi.org/10.54443/morfai.v3i2.855
Ngalimun, N., Rahman, N. F., & Latifah, L. (2020). Dakwah KH. Zainuri HB dan Peran Kepemimpinannya di Pesantren. Sahafa Journal of Islamic Communication, 3(1), 13-24.
Ngalimun, N. (2022). Bahasa Indonesia Untuk Penulisan Karya Ilmiah. EduCurio: Education Curiosity, 1(1), 265-278.
Ngalimun, N. (2023). Pemulihan pendidikan pasca pandemi melalui transformasi digital dengan pendekatan manajemen pendidikan Islam di era society 5.0. Jurnal Terapung: Ilmu-Ilmu Sosial.
Nurohmah, L. (2025). Penerapan akuntansi perbankan syariah dalam pengakuan pendapatan atas akad mudharabah. JAKSYA: Jurnal Akuntansi Syariah, 3(1), 21–29. https://doi.org/10.24952/jaksya.v3i1.14163
Qanita, M., Zainal, V. R., Sunaryo, & Waskito, M. (2026). Risk sharing dalam ekonomi Islam global: Analisis kesenjangan antara konsep ideal dan praktik dalam perspektif keuangan syariah kontemporer. Jurnal Manajemen Pendidikan dan Ilmu Sosial, 7(2), 1882–1889. https://doi.org/10.38035/jmpis.v7i2.7720
Salleh, A. D., Ghani, N. A. R., Abdul Rahim, G. N. N. A., & Hatta, M. F. M. (2022). Contractual risk transfer in Islamic home financing: Analysis in Bank Malaysia. International Journal of Academic Research in Economics and Management Sciences, 11(3), 405–417. https://doi.org/10.6007/IJAREMS/v11-i3/14644
Salman, K. R. (2023). Exploring moral hazard and adverse selection in profit sharing contract. International Journal of Professional Business Review, 8(3), e0955. https://doi.org/10.26668/businessreview/2023.v8i3.955
Sugianto, S., & Malasyi, S. (2024). The implementation of investment risk management in sharia capital market. Economit Journal: Scientific Journal of Accountancy, Management and Finance, 4(1), 7–12. https://doi.org/10.33258/economit.v4i1.1058
Umam, K. (2016). The importance of good customer ethics in improving the financing portion of mudharabah. Global Review of Islamic Economics and Business, 4(1), 15–24. https://doi.org/10.14421/grieb.2016.041-02
Universitas Indonesia, Wahyudi, I., & Sakti, A. (2016). Analyzing the profit-loss sharing contracts with Markov model. Communications in Science and Technology, 1(2), 78–88. https://doi.org/10.21924/cst.1.2.2016.17
Zufriani, Z., Ayu, D., & Asa’ari, A. (2023). Harmonization of mudharabah contracts: Study of DSN-MUI Fatwa, Compilation of Sharia Economic Law (KHES), legislation and its application in Indonesian sharia banking. Al-Qisthu: Jurnal Kajian Ilmu-Ilmu Hukum, 21(1), 15–31. https://doi.org/10.32694/qst.v21i1.2513
