The role of third-party funds in moderating inflation, risk, and profitability on Murabahah financing performance

Fatihah, Ramadina Salwanda and Segaf, Segaf ORCID: https://orcid.org/0000-0003-0017-1021 (2026) The role of third-party funds in moderating inflation, risk, and profitability on Murabahah financing performance. JPS (Jurnal Perbankan Syariah), 7 (1). pp. 1-25. ISSN 27217094

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Abstract

Purpose – This study aims to analyze the effect of inflation, Non Performing Financing (NPF), and Return on Assets (ROA) on murabahah financing at Islamic Commercial Banks in Indonesia for the period 2019–2024, as well as to examine the role of Third Party Funds (DPK) as a moderating variable. Method – This study uses a quantitative approach based on secondary data obtained from the quarterly financial reports of 10 Islamic commercial banks, with a total of 240 observations analyzed using panel data regression and Moderated Regression Analysis (MRA) through E-Views 12. Findings – The results show that inflation has a negative and significant effect on murabahah financing, while NPF and ROA have a positive and significant effect. The moderation findings show that TFD can weaken the effect of inflation and strengthen the effect of ROA on murabahah financing, but does not moderate the effect of NPF. Implications –Theoretically, this study complements the development of intermediation theory by showing how macroeconomic factors, risk, and profitability interact in influencing the intermediation capacity of Islamic banking. Practically, this study can be a reference for Islamic banks in formulating fund raising strategies and risk management so that murabahah financing expansion can be carried out more effectively.

Item Type:	Journal Article
Keywords:	inflation; non performing financing; return on assets; third party funds; murabahah financing
Subjects:	15 COMMERCE, MANAGEMENT, TOURISM AND SERVICES > 1502 Banking, Finance and Investment
Divisions:	Faculty of Economics > Department of Islamic Banking
Depositing User:	Segaf Segaf
Date Deposited:	16 Jul 2026 04:28

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