The Effectiveness of Bank Aceh Syariah Conversion Decisions

Zulfikar Bagus Pambuko*    -  Universitas Muhammadiyah Magelang, Indonesia
Diesyana Ajeng Pramesti    -  Universitas Muhammadiyah Magelang, Indonesia

(*) Corresponding Author

Abstract: Since 2008, Indonesia has had a particular policy for Islamic windows to spin off into full-fledged Islamic banks separate from their conventional parent if they meet the criteria. In the case of Bank Aceh Syariah, since Q3 2016, the spin-off has been done through a conversion mechanism from Bank Aceh to Bank Aceh Syariah. The study aims to analyze the effectiveness of conversion decisions in Bank Aceh Syariah. Non-parametric test with the Wilcoxon signed-rank is used to analyze the banking performance due to the conversion. The performance indicators tested in the study are capital adequacy, liquidity risk, profitability, and management efficiency over Q2 2014 until Q3 2018. The results suggest that the conversion decision of Bank Aceh Syariah is effective in correcting the non-performing financing (NPF) ratio but declining the level of profitability through ROA, ROE, and NOM ratio. Thus, the spin-off decision through the conversion mechanism needs to forecast the future financial performance and the effort to fulfill sharia compliance.

Abstrak: Sejak 2008, Indonesia memiliki kebijakan khusus bagi perbankan syariah yang mewajibkan UUS untuk melakukan spin-off menjadi BUS yang terpisah dari bank konvensional induknya jika telah memenuhi kriteria. Pada kasus Bank Aceh Syariah, sejak kuartal III 2016 telah dilakukan spin-off melalui mekanisme konversi dari Bank Aceh menjadi Bank Aceh Syariah. Tujuan penelitian ini adalah untuk menganalisis efektivitas keputusan konversi Bank Aceh Syariah. Pengujian non parametrik dengan uji Wilcoxon digunakan untuk menganalisis kinerja keuangan akibat konversi. Indikator kinerja yang diuji dalam studi ini adalah permodalan, risiko likuiditas, profitabilitas, dan efisiensi manajemen pada periode Q2 2014 hingga Q3 2018. Hasil penelitian ini menunjukkan bahwa keputusan konversi Bank Aceh Syariah efektif dalam memperbaiki rasio pembiayaan bermasalah (NPF), namun menurunkan tingkat profitabilitas melalui ROA, ROE, dan NOM. Dengan demikian, keputusan spin-off melalui konversi perlu mempertimbangkan capaian kinerja keuangan di masa mendatang, selain sebagai upaya pemenuhan kepatuhan terhadap syariah.

Keywords : Conversion Decision; Financial Performance; Islamic banks; Liquidity Risk; Profitability

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Economica: Jurnal Ekonomi Islam
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ISSN: 2085-9325 (Print)
ISSN: 2541-4666 (Online)
DOI : 10.21580/economica

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