Profit and loss sharing (PLS) finan

Profit and loss sharing (PLS) financing should be the main operational characteristic of Islamic financial institutions because it more comply to sharia (Islamic law) and more fair (Chapra, 2001:223). But in fact, at baitul maal wa tamwil (BMT) in East Java, PLS-financingis verysmall, which is about 20% oftotalfinancing. Some BMT’s manager think that PLS-financing is lead to poor performance due to the nature of uncertainty. This study aims at analyzing the effect of PLS-financing on the business performance, social performance, and maslahah.
This study uses quantitative approach with partial least square (PLS) analysis. PLS analysis is used to determine the relationships among the latent variables; PLS-financing, business performance, social performance, and maslahah for stake holder. On this study, all of the latent variables are measured by formative indicators. PLS-financing is formed by mudaraba financing and musyaraka financing. Business performance variable is formed by three indicators; return on assets, performing financing, and financing to deposit ratio. Social Performance variable is formed by three indicators; qard-qardul hasan financing; distributing of alms, infaq, sadaqah; and social funds. Maslahah variable is formed by five indicators; maslahah of owners, executives, employees, government, and society.
The results indicate that the PLS-financing affects business performance negatively, business performance affects the social performance and maslahah. The social performance doesn’t affect the maslahah. By this results, it can be concluded that the allocation of PLS-financing of BMT as the implementation of Islamic law affects the maslahah indirectly, depend on the business performance and social performance.

Results (English) 3:

利润和损失分担（PLS）融资应成为伊斯兰金融机构的主要业务的特点，因为它更符合伊斯兰教法（伊斯兰法律）和公平（查柏拉，2001）。但事实上，在公司tamwil MAAL洼（BMT）在东爪哇，请融资很小，约为20% oftotalfinancing。一些移植的经理认为请融资导致的不确定性的本质表现不佳。本研究旨在分析请对企业绩效的影响，融资的社会绩效和maslahah。本研究采用定量方法，偏最小二乘法分析。请分析用于确定潜变量之间的关系；请融资、经营绩效、社会绩效，并为股东maslahah。在这项研究中，所有的潜变量的测量形成指标。请融资是由信托出资融资和融资musyaraka。经营绩效变量是由三个指标构成的，资产收益率、融资规模、融资比例。社会绩效变量是由三个指标构成；qard qardul哈桑融资；分配施舍，infaq，sadaqah；社会资金。变量是由五个指标构成maslahah；麦斯莱哈业主、高管、员工、政府、社会。结果表明，PLS融资影响企业绩效负相关，企业绩效影响社会绩效和maslahah。社会绩效不影响maslahah。这个结果，可以得出结论，请融资BMT作为实施伊斯兰法律影响麦斯莱哈间接配置，取决于企业的绩效和社会绩效。