KESEPAKATAN KELEMBAGAAN KONTRAK MUDHARABAH DALAM KERANGKA TEORI KEAGENAN
Fakultas Ekonomi dan Bisnis Universitas Brawijaya Malang
Jl. M.T. Haryono No.165 Malang, 65145
Korespondensi dengan Penulis:
Asfi Manzilati: Telp. + 62 341 551 396; Fax. +62 341 553 834
This research aimed to (1) know how the banker (as principals) interact with customers (as agents) in creating and enforcing a contract of mudharabah (2) offer an alternative arrangement of mudharabah contract resulting mudharabah rules (institutions) that benefited both parties (principal and agent). With in-depth interviews, two important findings were obtained: (1) character of prospective clients was an important determinant of the creation of a contract as collateral material. It should not be used as a tool to compensate investment risk, (2) monitoring was a key to the process of contract enforcement. Based on the findings and review of related literature, a design of mudharabah rules (institutions) that were expected more fair and beneficial to both parties namely the bank /shohibul maal as the principal and client or mudharib as an agent could be developed.
Key words: institutional arrangements, agency theory, mudharabah