REPOSISI PERBANKAN SYARIAH : REVIEW DUA DEKADE PEMBANGUNAN PERBANKAN SYARIAH NASIONAL Irfan Syauqi Beik, PhD Center of Islamic Business and Economic Studies (CIBEST) IPB
Bandung, 2 Desember 2014 / 10 Safar 1436 H
OUTLINE 1. Institusi keuangan syariah pada periode klasik 2. Peran otoritas keuangan dalam perspektif sejarah Islam 3. Review praktek kontemporer perbankan syariah 4. Sinkronisasi model bisnis perbankan syariah dengan maqashid syariah dan MEA 2015
I. INSTITUSI KEUANGAN SYARIAH PERIODE KLASIK
TAHAP PERKEMBANGAN EKONOMI SYARIAH
Tahap I (6001500 M)
Periode Klasik Ekonomi Syariah
Tahap II (15001950 M)
Tahap III (1950 – sekarang)
Periode Stagnasi
Periode Kebangkitan Kembali
INSTITUSI KEUANGAN SYARIAH DALAM SEJARAH Islamic Public Finance
Islamic Social Finance
• Baytul Maal
• Institusi Amil Zakat
• Ad Diwan
• Nadzir Wakaf
• Al-Hisbah
Nadzir Wakaf Uang menjalankan Islamic commercial finance pada masa Turki Usmani
INSTITUSI YANG PALING DEKAT DENGAN PRAKTEK PERBANKAN SYARIAH ADALAH INSTITUSI WAKAF UANG DI ZAMAN TURKI USMANI
WAKAF UANG DALAM SEJARAH (KHILAFAH TURKI USMANI) • Pada prakteknya, penggunaan wakaf uang sebagai instrumen ekonomi negara baru berjalan secara intensif di era Khilafah Turki Usmani • Selama berabad-abad, wakaf uang menjadi mesin pertumbuhan ekonomi Turki dan dunia
• Riset Prof Murat Cizakca (2004) : meneliti institusi wakaf uang di Bursa, Turki periode 1555-1823, dengan menganalisa dokumen tertulis 761 lembaga wakaf saat itu • Riset tersebut membuktikan bahwa ada 148 lembaga wakaf uang yang bertahan lebih dari 1 abad dan menunjukkan kinerja yang baik
PRAKTEK DI ZAMAN TURKI • Wakaf Uang : digunakan sebagai sumber pembiayaan usaha mendorong pertumbuhan ekonomi Turki
• Akad yang digunakan : mayoritas murabahah (dengan marjin profit 10-11%), dan sebagian mudarabah • Marjin profit ini lalu disalurkan untuk tujuan-tujuan sosial keagamaan pokok wakafnya tetap tidak berubah
WAKAF UANG DI ZAMAN TURKI USMANI
Wakaf Uang Memberi akses permodalan kepada para pebisnis kecil dan besar
Pembiayaan Sektor Riil Keuntungan (profit) : disalurkan kepada kaum dhuafa dan untuk tujuan sosial
Kesejahteraan masyarakat meningkat
II. PERAN OTORITAS/NEGARA DALAM SEJARAH
PERAN DAN FUNGSI OTORITAS Peran Otoritas
Fungsi Otoritas
• Ideological role
• Fungsi alokasi
• Developmental role
• Fungsi distribusi
• Welfare role
• Fungsi stabilisasi dan perlindungan
III. REVIEW PRAKTEK KONTEMPORER PERBANKAN DAN KEUANGAN SYARIAH
1980s
1990s
2000s
•Gulf / Middle East •Asia Pacific
•Gulf / Middle East •Asia Pacific
•Gulf / Middle East •Asia Pacific •Europe / Americas •Global Offshore Market
Institutions •Commercial Islamic banks
•Commercial Islamic banks •Takaful •Islamic investment companies
•Commercial Islamic banks •Takaful •Islamic investment companies •Asset management companies •Brokers/Dealers
•Commercial Islamic banks •Takaful •Islamic investment companies •Asset management companies •Brokers/dealers •Islamic investment banks •E-Commerce
•Commercial banking products
•Commercial banking products •Takaful products
•Commercial banking products •Takaful products •Mutual funds/ unit trusts •Domestic Islamic bonds •Shariah compliant stocks •Islamic stockbroking •Islamic derivatives
•Commercial banking products •Takaful products •Mutual funds/ unit trusts •Domestic Islamic bonds •Global Islamic bonds •Islamic asset backed securities •Shariah compliant stocks •Islamic stockbroking •Islamic structured products •Islamic Hedge funds •Private Equity & Islamic REITs
Category Area
Products
1970s •Gulf / Middle East
Islamic Finance
… is coming of age
Global Assets of Islamic Finance 1,6
End-of-year, US$ trillion
1,2
≥20%
≥95%
Average CAGR 2006-2012
Share of OIC Countries
0,8
0,4
0,0
Source: The City UK, The Banker, Ernst & Young
•
Since 2006, Islamic finance has been growing at a 20% average growth rate, and in 2012, its global assets reached $1.5 trillion
•
OIC member countries are home to over 95% of the global shariah-compliant assets
Source: Alpay (2014)
Regional distribution of Islamic finance assets
Islamic Finance Australia/Europe/America 4,3%
Regional distribution of sharia compliant assets, 2013
Asia 20,8%
SSA 0,8%
GCC 39,2%
Non-GCC MENA 38,6%
Source: The Banker
•
MENA accounts for almost four-fifths (77.8%) of global shariah-compliant assets whereas Asia has a one-fifth (20.8%) share
Source: Alpay (2014)
Islamic Finance Regional growth in global assets of Islamic finance (2007-2013)
Regional growth dynamics CAGR 2007-2013
Last year (2012-2013)
30% 22,7% 20%
18,5%
19,2%
17,9%
17,4%
16,6%
16,0% 12,2%
10,6%
8,7%
10% 0,8%
0,5% 0% -3,4% -10%
-20%
-30%
-60,3%
Source: The Banker
•
The growth in Islamic finance is mainly driven by the growth in MENA (with overall CAGRs of 18.5% and 17.4% in GCC- and Non-GCC-MENA since 2007, respectively).
Source: Alpay (2014)
Countries by size of Islamic finance assets
Islamic Finance Qatar 4,2%
Indonesia 1,5%
Bangladesh 1,3%
Turkey 1,0%
Other 4,0%
Country-level decomposition of sharia compliant assets, 2013
Bahrain 4,5% Iran 37,6%
Kuwait 5,7%
UAE 6,9%
Malaysia 15,5% Source: The Banker
•
Saudi Arabia 17,9%
Iran, Saudi Arabia, Malaysia, UAE and Kuwait remain the top 5 largest markets for Islamic finance – holding more than four-fifths (83.6%) of total shariacompliant assets worldwide in 2013.
Source: Alpay (2014)
PERKEMBANGAN INDUSTRI KEUANGAN SYARIAH NASIONAL Jenis
2010
2011
2012
2013
Q1 2014
Jul-14
MARKET SHARE (Juli 2014) Per Industri
Perbankan Syariah (Rp trilyun) Asuransi Syariah (Rp trilyun) Pembiayaan Syariah (Rp trilyun) Saham Syariah (Rp trilyun) Sukuk Korporasi (Rp trilyun) Reksa Dana Syariah (Rp trilyun) Sukuk Negara (Rp trilyun)
97,52
145,47
195,02
242,28
240,93
252,40
6,97
9,15
13,1
16,66
18,41
19,26T*)
2,36
3,62
22,66
24,64
24,24
23,49T**)
n.a
1.968,10
2.451,33
2.557,85
2.860,66
2.955,79
58,63%
7,82
7,92
9,79
7,55
7,19
6,96
3,17%
5,23
5,56
8,05
9,43
9,23
9,51
4,43%
44,34
77,73
124,36
169,29
178,83
179,10
9,83%
Sumber : Otoritas Jasa Keuangan (2014)
4,93% 4,25% (2013) 5,51% (2013)
Inherent strengths that would help avoid crises
Islamic Finance
■ Linkage with real economic activity
■ Market discipline
■ Moral constraints (values) ■ Socio-economic justice ■ Strong prudential advantages
■ Efficiency gains
ZONE OF SUSTAINABILITY
ISLAMIC FINANCE
■ Inclusion ■ Overall development and well-being
■ Equitable & efficient distribution of credit ■ Transparency and fairness in business ■ Sharing of risk & reward ■ Stability
Avoidance of: - Riba (Interest) - Gharar (Uncertainty) - Maysir (Gambling)
Socio-economic Development Imperative Source: Alpay (2014)
Business/Profit Imperative
IV. SINKRONISASI MODEL BISNIS PERBANKAN SYARIAH DENGAN MAQASHID SYARIAH DAN MEA 2015
Maqashid Syariah : - Proteksi agama - Proteksi jiwa - Proteksi akal - Proteksi keturunan - Proteksi harta
Maqashid-oriented business memiliki unsur : 1. Tahdib al fard (edukasi individu) 2. Al-’Adl (keadilan) 3. Al-maslahah al-’ammah (kemaslahatan publik)
Model Bisnis Bank Syariah
ASEAN Community ASEAN Economic Community (AEC)
ASEAN Political Security Community (APSC)
ASEAN Cultural Community (ASCC)
ASEAN COMMUNITY : Pertumbuhan ekonomi rata-rata ASEAN 6,6% dalam kurun waktu satu dekade terakhir
Source: ASEAN Secretariat (2013)
12 SEKTOR PRIORITAS INTEGRASI MEA 1.
Agriculture and forestry
2.
Air transportation
3.
Automotive
4.
e-ASEAN
5.
IT and electronic
6.
Fisheries
7.
Medical services
8.
Rubber product
9.
Textiles and clothes
10.
Tourism
11.
Wood products (carpentry)
12.
Logistics
Bagaimana mendorong peran perbankan syariah dalam membiayai 12 sektor prioritas ini?
MEA dan Isu Strategis Perbankan Syariah Nasional Kualitas SDM
Jumlah Penduduk Independensi DSN dan shariah compliance contract
Faktor Pendukung
Internal Bank Syariah
Tantangan Bank Asing Pesaing Modal Foreign Banks yang lebih besar
Variasi Produk International Experience
Profit vs Maqashid oriented Kemampuan Linkage dengan LKS Non Bank
Isu Strategis
IT dan SDM Foreign Banks yang lebih kuat
Dukungan Pemerintah Negara Lain
Sistem IT
Dukungan Pemerintah
Penempatan Dana Haji dan aset BUMN
Penempatan dana APBN di bank syariah
Sosialisasi dan Edukasi Publik
TERIMA KASIH
