Contract-Specific Effects of Fintech on Islamic Financing Profitability
DOI:
https://doi.org/10.22373/share.0011Keywords:
Islamic Financing, Net Profit, Fintech, Moderation, Islamic Banks, Istishna’Abstract
As Islamic banks continue to expand their financing activities and accelerate digital transformation, understanding how different financing contracts contribute to profitability has become increasingly important. This study examines the effects of Islamic financing contracts on the net profit of Islamic banks and investigates whether fintech moderates these relationships. The analysis covers six financing contracts: murabahah, mudharabah, musyarakah, ijarah, istishna', and qardh. Using a quantitative explanatory design, the study employs monthly aggregate data from the Indonesian Islamic Banking Statistics published by the Financial Services Authority (OJK) from January 2015 to December 2024. Fintech is proxied by operational expenditure efficiency, and the hypotheses are tested using Moderated Regression Analysis (MRA). The findings reveal that the profitability effects of Islamic financing differ across contract types. Mudharabah financing is associated with a significant negative effect on net profit, whereas istishna' financing has a significant positive effect. In contrast, murabahah, musyarakah, ijarah, and qardh financing do not significantly influence net profit. The results further show that fintech strengthens the relationship between istishna' financing and net profit but does not significantly moderate the effects of the other financing contracts. These findings suggest that the contribution of fintech to profitability depends on the characteristics of individual contracts, particularly their operational complexity, monitoring intensity, and risk profile. This study contributes to the Islamic banking literature by highlighting the contract-specific role of fintech and suggests that digitalization efforts should be prioritized in financing activities that require intensive monitoring and project management, especially istishna' financing.
ABSTRAK - Pengaruh Spesifik Fintech terhadap Profitabilitas Pembiayaan Syariah Berdasarkan Akad. Perkembangan pesat perbankan syariah dan teknologi keuangan (financial technology atau fintech) menimbulkan pertanyaan penting mengenai bagaimana berbagai akad pembiayaan syariah berkontribusi terhadap profitabilitas bank serta sejauh mana inovasi teknologi mampu meningkatkan efektivitasnya. Penelitian ini bertujuan menganalisis pengaruh akad pembiayaan syariah terhadap laba bersih bank syariah serta menguji peran fintech sebagai variabel moderasi dalam hubungan tersebut. Analisis difokuskan pada enam akad pembiayaan, yaitu murabahah, mudharabah, musyarakah, ijarah, istishna', dan qardh. Penelitian menggunakan pendekatan kuantitatif eksplanatori dengan data agregat bulanan yang bersumber dari Statistik Perbankan Syariah Indonesia yang diterbitkan oleh Otoritas Jasa Keuangan (OJK) selama periode Januari 2015 hingga Desember 2024. Fintech diproksikan melalui efisiensi biaya operasional, sedangkan pengujian hipotesis dilakukan menggunakan Moderated Regression Analysis (MRA). Hasil penelitian menunjukkan bahwa pengaruh pembiayaan syariah terhadap laba bersih bersifat heterogen antarakad. Pembiayaan mudharabah berpengaruh negatif signifikan terhadap laba bersih, sedangkan pembiayaan istishna' berpengaruh positif signifikan. Sebaliknya, pembiayaan murabahah, musyarakah, ijarah, dan qardh tidak menunjukkan pengaruh yang signifikan. Temuan penelitian juga menunjukkan bahwa fintech hanya memperkuat hubungan antara pembiayaan istishna' dan laba bersih, sementara tidak memoderasi hubungan pada akad lainnya. Hasil ini mengindikasikan bahwa efektivitas fintech bergantung pada karakteristik operasional, kebutuhan pengawasan, dan struktur risiko masing-masing akad pembiayaan. Penelitian ini berkontribusi pada literatur perbankan syariah dengan menunjukkan bahwa peran fintech dalam meningkatkan profitabilitas bersifat spesifik terhadap akad tertentu, bukan berlaku secara universal. Oleh karena itu, bank syariah perlu mengarahkan strategi digitalisasi secara lebih terfokus pada pembiayaan yang memiliki kompleksitas operasional dan kebutuhan monitoring yang tinggi, terutama pembiayaan istishna'.
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Copyright (c) 2026 Erwin Saputra Siregar, M. Taufik Ridho, Rohaiza Kamis, Intan Rizkiana (Author)
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