Analisis Pengaruh Nilai Taksiran Marhun dan Estimasi Risiko Proteksi Terhadap Penetapan Biaya Mu’nah Gadai Emas Pada Bank Syariah Indonesia
Keywords:
Gold Pawn, Mu'nah Fee, Estimated Value of Marhun.Abstract
The determination of collateral maintenance fees (mu'nah) in Islamic gold pawn products in Indonesia frequently sparks academic discourse because it is calculated based on the estimated value of the gold (taksiran) rather than the actual maintenance expenses incurred (al-nafaqah al-fi'liyyah), as stipulated in classical jurisprudence (Hasyiyah al-Bujairimi). This quantitative study aims to analyze the effect of the Estimated Value of Collateral / Marhun (X1) and the Estimated Protection Risk (X2) on the Determination of Mu'nah Fees (Y), as well as to test for significant differences between the estimated-value-based mu'nah fee and the estimated physical real maintenance cost (real cost). Data were gathered from 120 samples of appraisal reports and gold pawn transactions at Islamic bank branch offices in Indonesia covering the period of 2023–2025. The data were analyzed using Multiple Linear Regression and Paired Sample t-Test via SPSS. The results show that: (1) the Estimated Value of Marhun has a positive and significant effect on the Mu'nah Fee (β = 0.642, p < 0.001); (2) the Estimated Protection Risk has a positive and significant effect on the Mu'nah Fee (β = 0.285, p < 0.001); (3) simultaneously, both independent variables explain 78.4% of the variance in the Mu'nah Fee (R2 = 0.784); and (4) there is a highly significant difference between the mu'nah fee charged by the bank and the actual physical maintenance cost (t = 18.421, p < 0.001). This study recommends a fee formulation based on cost unbundling to enhance Sharia compliance.
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