Nasir, Fitria (2025) ANALYSIS OF IMPLEMENTATION OF IJARAH MUNTAHIYAH BI TAMLIK CONTRACT FOR ISLAMIC HOME FINANCING AT BSI BRANCH OF PONOROGO. S1 Undergraduate thesis, Universitas Darussalam Gontor.

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Abstract

The Islamic banking industry in Indonesia is growing, particularly due to the Islamic Home Financing (KPR) product and the Ijarah Muntahiyah Bit Tamlik (IMBT) scheme. However, the implementation of IMBT still faces various challenges, such as low Islamic financial literacy in society, inadequate human resource quality, and regulatory and operational complexities. Data indicates that the majority of KPR Syariah financing at Bank Syariah Indonesia (BSI) is still dominated by Murabahah and Musyarakah Mutanaqisah contracts, while the use of IMBT remains relatively low. The reason for the low adoption of IMBT is its more complicated process compared to other contracts and its greater operational and marketing risks. This study aims to analyze the challenges in the implementation of the IMBT contract in Sharia Home Financing products at the BSI branch office of Ponorogo. Additionally, this study also aims to identify the solutions that have been and can be applied to improve the effectiveness of IMBT in Sharia Mortgage products. The research method used is qualitative research with a case study approach. Data were collected through in-depth interviews with bank representatives and customers, direct observation of the IMBT implementation process, and documentation study on related policies and regulations. Data analysis techniques were carried out descriptively with data reduction, data presentation, and conclusion drawing. According to the research findings, BSI has attempted to improve the implementation of IMBT in Sharia Home financing, even as they continue to face challenges. The main challenges identified include: (1) Limited customer understanding of the IMBT contract, which results in lower demand for this product compared to Murabahah; (2) Limited competence of bank human resources in explaining and managing the IMBT contract, which affects service effectiveness; and (3) Complex administrative processes, making the financing application using the IMBT contract take longer than other contracts. To address these challenges, BSI has implemented several strategies, such as educating the public through seminars and digital financial literacy programs, enhancing the competence of human resources through regular training, and simplifying administrative procedures by utilizing digital technology. The positive effects of these efforts can be seen in the improvement of customer comprehension, the effectiveness of product socialization, and efficiency in administrative processes. However, further optimization of regulations and strengthened synergy between the bank and relevant authorities are still needed to enhance the competitiveness of IMBT. This study recommends three key solutions to improve the implementation of IMBT: (1) Enhancing Islamic financial literacy through broader educational campaigns and the use of digital media, (2) Strengthening the competence of bank human resources through regular training and specialized certification related to IMBT products, and (3) Collaboration between banks and regulators to develop policies that better support IMBT, including the utilization of digital technology to simplify administrative processes and increase product accessibility in the Sharia mortgage market. Keywords: Ijarah Muntahiyah Bit Tamlik, Sharia Home Financing, Implementation Solutions, Sharia Banking, BSI KCP Ponorogo

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