ANALISIS EFISIENSI OPERASIONAL DAN IMPLEMENTASI AKAD MURABAHAH BIL WAKALAH SEBAGAI STIMULUS PROFITABILITAS PADA PT. BPRS TEUNGKU CHIEK DI PANTE

Abstract

This study aims to analyze the mechanism of implementation of the murabahah bil wakalah contract at PT. BPRS Teungku Chiek in Pante and its implications for the profitability and operational efficiency of Islamic banks for the 2023–2025 period. The research method uses a qualitative descriptive case study approach, combined with quantitative financial ratio analysis. The results of the study show that murabahah financing with a modification of the hybrid contract scheme (murabahah bil wakalah) is the main choice of customers because of the transparency of the cost of goods and the certainty of installments through a fixed rate of 1.5% per month. The sequential implementation of the contract is considered to have met the principles of sharia compliance with DSN-MUI Fatwa No. 04/2000, DSN-MUI Fatwa No. 68/2008, and Qanun Aceh No. 11/2018 concerning Sharia Financial Institutions (LKS). Financially, this product contributes significantly to progressively increasing profitability. The Return on Assets (ROA) indicator rose sharply from 0.57% (2023) to 6.69% (2025) in line with a surge in net profit from IDR 6.32 million to IDR 82.56 million. The consistent decline in the BOPO ratio to 78.76% in 2025 proves the improvement in the efficiency of the bank's operational performance. This study recommends strengthening the quality of digital-based microfinance feasibility analysis to mitigate Non-Performing Financing (NPF) risks and maintain a positive trend of profitability.