Dinamika struktur pasar dan perilaku bank serta dampaknya terhadap kinerja industri perbankan syariah Indonesia

Abstract

Competition is traditionally viewed as a pre-requisite for an industry to grow and welfare to maximize. In banking industry, however, the theory has been refuted and only accepted conditionally. Islamic banking industry in Indonesia is an interesting laboratory to test the theory because it has been highly concentrated but growing very rapidly. This research were aimed at clarifying the market boundary between islamic and conventional banking industry, analyzing the relationship between market structure and profitability of islamic banks in Indonesia, identifying the level of competition of Islamic banking industry in Indonesia, and analyzing the determinants of Islamic banking industrial growth in Indonesia. Four econometric models utilizing available yearly balanced panel data between 2005-2010 were used for analysis. The result shows that Islamic banking is more of a complementary to, instead of a substitute industry for conventional banking industry. This justifies the strategy of conventional banking opening Islamic banking unit without worrying for cannibalism of their own consumers. The positive relationship between market structure with profitability is found to be more supporting of the Efficient Structure Hypothesis rather than collutive Traditional Hypothesis. This conclusion is finally confirmed by the result of Panzar and Rosse model which indicate an almost perfect competition among banks in the industry with the H-statistical value of 0.91. Number of branches, ratio of interest rate and rate of return, and management quality, economic growth rate, exchange rate and Act No.21/2008 were found to be industrial growth enhancing, while market concentration was the opposit. All results satisfied the necessary condition for competition based on islamic values. More information based on primary data from banks and consumer’s perception are needed, however, to clarify for the sufficient condition that iB’s good behaviour in competition is driven more by islamic values than by the pressure of contestability in the market.

Perkembangan perbankan syariah sejak awal dikembangkan sangat pesat. Nilai aset yang hanya kurang dari Rp. 2 T pada tahun 2000 berkembang menjadi hampir Rp. 100 T dalam satu dekade. Tingkat pertumbuhan per tahun yang terjadi jauh di atas rata-rata pertumbuhan perbankan konvensional. Hal ini tidak hanya terjadi di Indonesia tetapi juga di tingkat dunia (Vayanos, et al. 2008). IMF bahkan meramalkan aset perbankan syariah dunia akan mencapai US$ 1 Trilyun pada tahun 2016 dengan pertumbuhan rata-rata 10-15 persen per tahun. Pertumbuhan yang relatif tinggi tersebut diduga karena semakin meningkatnya permintaan dari umat Islam sendiri, investor non-muslim yang mencari alternatif sistem perbankan yang lebih adil dan besarnya pendapatan minyak dari Timur Tengah (Rohilina dan Wibisono, 2011). Terlepas dari tingginya laju pertumbuhan perbankan syariah, tingkat penguasaan pasar dalam industri perbankan meningkat sangat lambat, padahal di berbagai negara Timur Tengah dan negara tetangga Malaysia, pangsa pasar perbankan syariah sudah mendekati 20 %, walaupun memang mereka telah mulai merintis satu dekade lebih cepat. Data statistik perbankan memperlihatkan bahwa pada akhir 2010, pangsa pasar perbankan syariah baru mencapai sedikit di atas 3 %, padahal target awal BI adalah 5 % pada akhir tahun 2008. Masih kecilnya pangsa pasar perbankan syariah ini merupakan salah satu masalah utama yang menghambat percepatan pertumbuhan dan kontribusinya terhadap perekonomian, selain masalah langkanya ketersediaan sumberdaya manusia yang kompeten dan lambatnya inovasi produk untuk memberi alternatif kepada produk perbankan konvensional dan untuk memenuhi tuntutan masyarakat (Ismail, 2011).