The influence of Indirect Competitors Market Rate (ICMR) in the Determination of Margin Level of Murabaha in PT Bank BRI Syariah

Abstract

The determination of murabaha margin in Islamic banks’ financing still refers to the Indirect Competitors Market Rate (ICMR). It is the interest rate of conventional banks that the implementation is based on Islamic law with the prohibition of using a system of interest (usury). The high margins are set by Islamic banks in anticipation of the rise in market interest rates or inflation, and then the margin murabaha will be greater than the interest rate of a conventional bank. In general, Islamic banks are also using market interest rates as a benchmark. How determination of margin like this is a step astray and can damage the reputation of Islamic banks. Based on the background of the problem, and then propose the problem into the following questions: What level of Indirect Competitors Market Rate (ICMR)? How murabaha margin in PT Bank BRI Syariah? In addition, how is the effect of Indirect Competitors Market Rate (ICMR) in determining the level of margin murabaha of PT Bank BRI Syariah. The research method is descriptive; the research outlined the existing conditions and provided an analysis of the phenomenon. Engineering studies using quantitative data analysis techniques. This quantitative data is used to measure the effect of Indirect Competitors Market Rare (ICMR) in determining the level of margin murabaha. This study aims to determine the effect of Indirect Competitors Market Rate (ICMR) in setting the Tertiary margin murabaha. This research was conducted at PT Bank BRI Syariah central Jakarta 2012-2014. The results of this study that the Indirect Competitors Market (ICMR) have significant influence in determining the level of margin murabaha PT. BRI Syariah Bank headquarters in Jakarta with the R-square of 72% and the remaining 28% is another factor. Partially Indirect Competitors Market Rate (ICMR) have significant influence 0,000 or below 0.05.