Analysis Of Sme Financing And Shock Variables At Indonesia's Sharia Rural Banks (Bprs) In Indonesia

Afdhal Yaman; Ina Uswatun Nihaya; Mar'atun Shalihah; Ismail Tuanany; Aisa Manilet; Nur Sasma Sabila Hulihulis

doi:10.24952/tijaroh.v11i2.18061

Analysis Of Sme Financing And Shock Variables At Indonesia's Sharia Rural Banks (Bprs) In Indonesia

Afdhal Yaman* - UIN A.M. Sangadji Ambon, Indonesia

Ina Uswatun Nihaya - Universitas Negeri Surabaya, Indonesia

Mar'atun Shalihah - UIN A.M. Sangadji Ambon, Indonesia

Ismail Tuanany - UIN A.M. Sangadji Ambon, Indonesia

Aisa Manilet - UIN A.M. Sangadji Ambon, Indonesia

Nur Sasma Sabila Hulihulis - UIN A.M. Sangadji Ambon, Indonesia

Abstract

This study investigates the effects of macroeconomic shock variables, namely inflation, the BI rate, and the exchange rate, on SME financing in Indonesia’s Sharia Rural Banks (BPRS). This research employs a quantitative approach using time-series data from April 2016 to August 2023, comprising 89 observations, and is analyzed using EViews 10. The results show that inflation has a more stable and dominant effect on SME financing cycles, whereas the BI rate and exchange rate exhibit heterogeneous and time-varying influences. Moreover, the contribution of inflation to SME financing in BPRS tends to increase over time. This study contributes to the Islamic finance literature by demonstrating a distinctive transmission mechanism of macroeconomic shocks within Sharia-based rural banking, which operates under profit-and-loss sharing and asset-backed financing principles. From a policy perspective, the findings suggest that maintaining price stability is crucial for sustaining SME financing growth in the Islamic banking sector. Therefore, Bank Indonesia (BI) should prioritize inflation control, while the Financial Services Authority (OJK) needs to strengthen prudential supervision to enhance BPRS resilience against external volatility. In addition, BPRS management is encouraged to improve risk management and portfolio strategies to mitigate macroeconomic uncertainty and ensure financing sustainability.

Keywords

BPRS; Islamic finance; macroeconomic shocks; SME financing

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DOI: https://doi.org/10.24952/tijaroh.v11i2.18061