Determinan dan Pertimbangan Manajerial dalam Penyaluran Pembiayaan Qard pada Bank Perekonomian Rakyat Syariah di Indonesia

Yeny Fitriyani, Prof. Dr. Samsubar Saleh, M.Soc, Sc, Ph.D, Akhmad Akbar Susamto, SE., M.Phil, Ph.D

2026 | Disertasi | S3 Agama dan Lintas Budaya

Penelitian ini menganalisis determinan dan pertimbangan manajerial dalam penyaluran pembiayaan qard pada Bank Perekonomian Rakyat Syariah (BPRS) di Indonesia. Meskipun qard memiliki posisi normatif penting dalam keuangan syariah sebagai instrumen sosial tanpa imbal hasil, secara empiris ia termarjinalkan dalam portofolio BPRS selama lebih dari satu dekade. Penelitian ini menjawab dua pertanyaan: (1) faktor internal dan eksternal apa yang memengaruhi penyaluran qard, dan (2) apa alasan serta pertimbangan pimpinan BPRS dalam menyalurkan atau membatasi qard.

Penelitian menggunakan desain metode campuran fungsional. Pendekatan kuantitatif menggunakan System GMM pada 159 BPRS periode 2011–2022 (1.906 observasi). Pendekatan kualitatif menggunakan wawancara mendalam dengan 10 pimpinan BPRS yang dipilih secara purposive. Kebaruan metodologis penelitian ini terletak pada integrasi fungsional kedua pendekatan saling memverifikasi dan memperkaya dan yang jarang ditemukan dalam studi pembiayaan sosial syariah. Kerangka teoretik mengintegrasikan Financial Intermediation Theory, Resource-Based Theory, Institutional Theory, dan Bounded Rationality Theory.

 emuan kuantitatif menunjukkan penyaluran qard lebih dijelaskan oleh karakteristik internal bank daripada makroekonomi. Risiko pembiayaan (NPFR) berpengaruh negatif (-0,006; p<0>qard, sedangkan FDR dan pertumbuhan pembiayaan menghambatnya. Variabel makroekonomi tidak signifikan. Temuan ini perlu dibaca dengan mempertimbangkan keterbatasan data makro pada tingkat provinsi serta belum terukurnya dampak jangka panjang qard terhadap kesejahteraan nasabah.

Temuan kualitatif mengungkap qard dimaknai secara tripartit: talangan sementara, instrumen sosial kebajikan, dan instrumen relasional-reputasional. Tekanan institusional (regulasi OJK, fatwa DSN-MUI, DPS, dan harapan masyarakat) serta manfaat tidak berwujud (reputasi, kepercayaan, modal sosial) menjadi alasan qard tetap dipertahankan. Namun, qard dibatasi karena tidak menghasilkan margin, keterbatasan sumber dana, risiko pengembalian, biaya pemantauan, dan rendahnya literasi nasabah. Keputusan bersifat insidental, selektif, dan berbasis satisficing melalui musyawarah, 5C proporsional, survei lapangan, dan evaluasi berkala.

Sintesis menghasilkan model konseptual: Qard sebagai Instrumen Komplementer yang Dikondisikan oleh Kapasitas Kelembagaan. Model ini memiliki empat pilar: (1) qard adalah instrumen komplementer, bukan produk inti; (2) legitimasi institusional menjadi alasan utama dipertahankan; (3) kapasitas kelembagaan (profitabilitas, risiko, likuiditas, intermediasi) membatasi perluasannya; dan (4) keputusan penyaluran merupakan hasil satisficing dalam keterbatasan informasi dan sumber daya.

Penelitian ini berkontribusi secara teoretis dengan menggeser pembahasan qard dari ranah normatif ke analisis kelembagaan empiris, serta mengintegrasikan empat teori secara hierarkis dan fungsional. Secara praktis, penelitian merekomendasikan: (1) pedoman risiko dan akuntansi yang membedakan perlakuan qard dari pembiayaan komersial; (2) bobot risiko lebih rendah bagi qard bersumber dana sosial (zakat, infak, sedekah, wakaf); (3) penguatan edukasi nasabah berkelanjutan; dan (4) skema kolaborasi pendanaan dengan lembaga filantropi Islam (BAZNAS, LAZ, wakaf) untuk memperluas sumber dana tanpa membebani likuiditas produktif BPRS.

Kata Kunci: Qard, Pembiayaan Sosial, BPRS, Kapasitas Kelembagaan, System GMM, Metode Campuran

This study analyzes the determinants and managerial considerations underlying the disbursement of qard financing at Sharia Rural Banks (Bank Perekonomian Rakyat Syariah/BPRS) in Indonesia. Although qard holds a normatively important position in Islamic finance as a non-return-bearing social instrument, it has been empirically marginalized within BPRS portfolios for over a decade. This study addresses two research questions: (1) what internal and external factors influence qard disbursement, and (2) what reasons and considerations underlie BPRS leaders' decisions to extend or restrict qard financing.

The study employs a functional mixed-methods design. The quantitative approach uses System GMM on 159 BPRS over the 2011–2022 period (1,906 observations). The qualitative approach employs in-depth interviews with 10 purposively selected BPRS leaders. The methodological novelty of this study lies in the functional integration of both approaches—which mutually verify and enrich one another—an integration rarely found in studies of Islamic social financing. The theoretical framework integrates Financial Intermediation Theory, Resource-Based Theory, Institutional Theory, and Bounded Rationality Theory.

The quantitative findings indicate that qard disbursement is explained more by internal bank characteristics than by macroeconomic conditions. Financing risk (NPFR) exerts a negative effect (-0.006; p<0>

The qualitative findings reveal that qard is understood in a tripartite manner: as temporary bridging assistance, as a social instrument of benevolence, and as a relational-reputational instrument. Institutional pressures (OJK regulations, DSN-MUI fatwas, the Sharia Supervisory Board/DPS, and community expectations) together with intangible benefits (reputation, trust, and social capital) constitute the primary reasons qard is maintained. However, its disbursement is constrained by the absence of margin generation, limited funding sources, repayment risk, monitoring costs, and low customer literacy. Decisions are incidental, selective, and satisficing in nature, arrived at through deliberation (musyawarah), proportional application of the 5C principles, field surveys, and periodic evaluation.

The synthesis of these findings yields a conceptual model: Qard as a Complementary Instrument Conditioned by Institutional Capacity. This model comprises four pillars: (1) qard functions as a complementary instrument rather than a core product; (2) institutional legitimacy is the primary rationale for its continued provision; (3) institutional capacity—encompassing profitability, risk, liquidity, and intermediation capability—constrains its expansion; and (4) disbursement decisions represent outcomes of satisficing behavior under conditions of limited information and resources.

Theoretically, this study contributes by shifting the discourse on qard from the normative domain toward empirical institutional analysis, while integrating four theories in a hierarchical and functional manner. Practically, the study recommends: (1) developing risk and accounting guidelines that distinguish the treatment of qard from that of commercial financing; (2) assigning lower risk weights to qard funded through social sources (zakat, infaq, sadaqah, and waqf); (3) strengthening sustainable customer education initiatives; and (4) establishing funding collaboration schemes with Islamic philanthropic institutions (BAZNAS, LAZ, and waqf bodies) to expand funding sources without burdening the productive liquidity of BPRS.

Keywords: Qard, Social Financing, BPRS, Institutional Capacity, System GMM, Mixed Methods

 

Kata Kunci : Qard, Pembiayaan Sosial, BPRS, Kapasitas Kelembagaan, System GMM, Metode Campuran/Qard, Social Financing, BPRS, Institutional Capacity, System GMM, Mixed Methods