The Role of BI Rate and Operational Cost to Income of Musyarakah in PT. Indonesia Bank of Muamalat Among 2016-2019 Period

: The purpose of this research is to determine how inflation affects revenue sharing as a result of the musyarakah financing contract, how operational costs affect revenue sharing as a result of the musyarakah financing contract, and how inflation and operational costs together affect revenue sharing as a result of the musyarakah financing contract at PT. Muamalat Indonesia Ba. This study is quantitative. The sample for this study was drawn from monthly financial reports published by PT. Bank Muamalat Indonesia between 2016 and 2019 and from the Financial Services Authority and Bank Muamalat Indonesia's Purposive Sampling techniques. Secondary data is what is being used. The associative method was used in this study. The Normality Test, Classical Assumption Test, Multiple Linear Regression Analysis, and Hypothesis Test are used as analysis models with a significance level of 5% or 0.05. The author uses the application SPSS 22 to process the data in this study. The analysis revealed that partially controlled variables such as inflation and operational costs significantly affect revenue sharing from musyarakah financing. When inflation and operational costs are considered together, they affect the revenue-sharing arrangement under the musyarakah financing agreement. This is demonstrated by the Prob value—statistical 0,000, which is less than 0.05. Then, in this study, the contribution of inflation and operational costs to the revenue from musyarakah financing was 0.419 or (41.9 percent ). Simultaneously, 58.9 percent of the variance was explained by variables not examined or not included in this research model.


INTRODUCTION
In 1998, Indonesia's monetary crisis forced the liquidation of several conventional banks, which were unable to meet their customer obligations due to the government's high-interest policy.The government's high-interest policy aims to rein in Indonesia's out-of-control inflation rate.The inflation nation is defined as "excessive money in circulation without accompanying production activities, resulting in a continuous increase in the prices of goods" (Nasution. 2010: 261).Uncontrolled inflation results in conventional banks requiring additional funds to meet their customer obligations; this results in the national economy contracting and conventional banks being closed by the government.
This demonstrates that Islamic banks were unaffected by the 1998 monetary crisis, as they were not required to pay interest to their customers.Islamic banks pay profit sharing to their customers only when the bank earns a profit from its investments.The government has thus far encouraged and aided the development of Islamic banks through the passage of Law No.10 of 1998.Indonesia maintains a two-tiered banking system.In 2006, Bank Indonesia published Bank Indonesia Regulation (PBI) No.8 / 3 / PBI / 2006 regarding transforming conventional bank businesses into those that conduct business following sharia principles and establishing sharia activity offices by conventional commercial banks.
Recognizing the tremendous opportunities available to Muslims in Indonesia and the community's need for sharia-compliant financial institutions, PT Bank Muamalat Indonesia established an Islamic business unit, Bank Muamalat Indonesia, on January 15, 2010.Bank Muamalat Indonesia is an Islamic bank that conducts business according to Islamic principles.Bank Muamalat Indonesia's development is accelerating, as evidenced by the growing number of Sub-Branch Offices in West Java and DKI Jakarta.
Masyarakat financing is one of the funds-channeling activities that Islamic banks frequently engage in.According to Antonio (2011: 90), "musyarakah is a contract of cooperation between two or more parties for the purpose of conducting a particular business in which each party contributes funds Page.52 in accordance with the agreement's profit and loss allocation."The better the customer's business performs, the more revenue sharing each party receives.
Various internal and external factors influence increased revenue financing for Musharaka Bank Muamalat Indonesia's results.Internal influences originate within the organization, such as company policies, products and services offered, and customer satisfaction.
Bank revenue from musyarakah financing will be significantly impacted by the government's fiscal and economic policies, both fiscal and monetary.Inflation is the government's policy that affects banks.When a country's macroeconomic conditions are uncertain, inflation occurs, and people use their funds more for consumption and speculation.The high price and fixed income, or income that does not increase with inflation, results in people having insufficient funds to deposit in the bank.Even customers may withdraw funds from the bank, reducing the amount of money in the bank and thus affecting the liquidity and financing segments.The bank will accomplish this as the bank's share of financing decreases.It will also affect the amount of revenue received by the bank.
In a previous study, AN Fauziyah (2016) Tulung Agung IAIN found that operational costs, inflation, and gross domestic product financing musyarakah are not significant.
Fahruddin ( 2009) UIN Sunan Kalijaga Yogyakarta examined "The Influence of Inflation Capital Adequacy Ratio, Credit Risk, Third Party Funds, and Networks Against Financing at Sharia Commercial Banks in 2006-2008" and discovered that inflation has a positive and significant effect on Islamic commercial bank financing in Indonesia.Then, in Priatmadja's (2011) research, "Influence of Inflation on Problematic Financing Per Contract and Economic Sector in Islamic Banks X," the inflation variable has a positive and significant effect on problematic financing per contract and economic sector.
Apart from inflation, another factor affecting revenue sharing from musyarakah financing is operational costs.Since operational costs associated with financing activities are charged to the deposited shared capital, the capital used is also significant when a large company operates.This will affect the amount of money the bank will use to finance the transaction.Operational costs are the sacrifices or costs incurred by a business to carry out its operations for a specific purpose.
In a previous study, AN Fauziyah (2016) Tulung Agung IAIN found that variable operational costs have a positive and significant effect on musyarakah financing.Then, in other studies, operational costs (BOP) have a positive and significant effect on murabahah Bank Muamalat Indonesia's financing margins (Purwaningsih: 2010).Then, in Sakti's (2014) research, he discovered that operational cost variables have a positive and significant effect on murabahah financing margins at Mega Syariah Bank.The authors are interested in researching the effect of the BI and profit-sharing rates on pt's mudharabah financing income.2011-2015 Muamalat Bank Indonesia.

LITERATURE REVIEW THEORETICAL FOUNDATION Understanding Inflation
Inflation is defined as a generalized and continuous increase in prices.A price increase on one or two items cannot be considered inflation unless it is widespread (or results in a price increase) on other goods.Inflation, in general, refers to an increase in the general level of goods/commodities and services over a specified period.The increase in the price level corresponds to the decline in the country's currency's actual value..

Operating Costs
According to Sumarsan (2013: 105), operating costs are operating expenses that cost the information of expenses money to carry out essential activities, namely in the form of sales and administrative costs to obtain income, excluding expenses that have been calculated in the cost of goods sold and depreciation.So the operational costs are all the sacrifices the company spends to fund the company's operations to achieve the company's goals.Operational costs related to company operations other than production costs include marketing costs and general and administrative costs.

Financing
In Muhammad 's view (2002: 260), financing in broad terms is defined as funding spent to support investments that have been planned either done alone or carried out by others.Based on several definitions of financing, the definition of financing is the provision of funds by banks (sahibul mal) to customers (mudarib) who need funds to carry out productive activities.That generate profits or carry out joint business activities and then require operations (profit/loss).So it was divided somewhat following the agreement at the beginning of the contract.
Musyarakah from the word syirkah comeswhich means mixing.Meanwhile, according to experts fuqaha, musyarakah means a contract between people united in capital and profits (Sutanto and Umam 2013: 204).
Meanwhile, according to Huda and Haykal (2010: 65), Musyarakah is a financing in which banks and customers contribute to business funds.Return on business capital following the profit-sharing ratio agreed between the customer and the bank.
Ma s y a r a k a t is a contract of cooperation between two or more people between sahibul mall (bank) and mudharib (customer), where both parties contribute funds in the business, and profit and loss sharing is determined at the beginning of the contract following the amount of capital deposited.

PREVIOUS RESEARCH
Fauziyah ( 2016) study results show that inflation does not positively and significantly affect musyarakah financing.In contrast, for operational costs, the variable has a positive and significant effect on musyarakah financing.
Fahruddin ( 2009), with the research title "Influence of inflation, capital adequacy ratio, credit risk, third party funds and networks on financing to Islamic banks in 2006-2008" that the results of his research show that inflation variables have a positive and significant effect on financing at Islamic banks.
Purwaningsih ( 2010), with the research title "Analysis of external and internal factors that affect margins financing murabaha," that the results of their research show that operational costs (BOP) have a significant effect on margins Murabaha financing at Bank Muamalat Indonesia (BMI).Sofyan (2011), the results of his research inflation variable has a positive and significant effect on the amount of savings in Indonesia.Sakti (2014) that the study results of operational cost variables have a positive and significant effect on financing margins murabahah.Priatmadja (2011), with the title research "Influence of inflation on problem financing per contract and per economic sector in Islamic banks X," with the study of inflation variables has a positive and significant effect on problem financing and per economic sector.

RESEARCH METHODS
Associative research was used in this study (relationships).Associative research aims to establish a connection between two or more variables (Sujarweni, 2015: 49).This research enables the development of a theory describing the strength of the relationship or influence of the independent variable (X) on the dependent variable (Y).The authors of this study wish to examine the relationship between inflation and operating costs and revenue sharing in musyarakah financing at Bank Muamalat Indonesia between 2016 and 2019.
The population is a generalization area comprised of objects or subjects chosen by researchers to study and draw conclusions (Sugiyono, 2014: 119).The population studied in this study is Bank Muamalat Indonesia, a West Java-based indigenous bank.Purposive sampling was used to collect data for this study.The sample collection technique is in the bank Muamalat Indonesia's financial statements for January 2016 to December 2019, which are available on the bank's official website.9.1, it is known that the VIF value of the inflation variable and operating costs is 1,010.This result shows that inflation and operational cost variables are free from the classical multicollinearity assumption because the result is smaller than 10.

b. Heteroscedasticity Heteroscedasticity
The test is used to determine whether or not there is a deviation from the classical assumption of heteroscedasticity, namely variance in residual variance for all observations in the regression model.The results of the multicollinearity assumption test using SPSS 22 can be seen in the table below: If the value is greater than the alpha level of 0.05 (5%), then H0 is accepted, meaning not happen heteroskedasticity.In contrast, if the significance value is smaller than the alpha level of 0.05 ( 5%), then H0 is rejected, which means going heteroskedasticity.
Table 3 values greater significance than an alpha level of 0.05 (5%) so that, by testing the hypothesis, H0 is accepted and reject Ha meaning not occur classical assumptions heteroscedasticity problem.

c. autocorrelation
Processed autocorrelation test classic assumptions using SPSS 22 can be seen in the table below: Where: dl: durbin lower limit(durbinlower) du: durbin upper limit(upperdurbin) Page. 56 Based on table 5 above, in mind that the value Durbin Watson (DW) is 2,154.In the DW table for the number of observations (n) = 47, K '= 2, and a significance of 5%, the value of dL is 1.4435, and dU is 1.6204.So the regression model DW value is in the region dU<d <4-dL.Hthen0 is accepted, which means the value of DW is at no autocorrelation criterion.Thus the assumptions on autocorrelation in the regression equation model have been fulfilled.

4.
Multiple Linear Regression Analysis Test Results Multiple regression is helpful to look for the influence of two or more variables predictor or the functional relationship of two predictors or more variables to the variable Criterion.The results of the processed multiple linear regression analysis using SPSS 22 can be seen in the table below: Constant a of -897,250 states that if the value of inflation (X1) and operating costs (X2) is constant (0), then the value of the financing income variable Musharaka (Y) is -897,250%.
Regression coefficient X1 has a positive relationship of 125846324,447 for the inflation variable, meaning that for every 1% increase in inflation, the revenue for musyarakah financing will increase 125846324.444.Vice versa, if inflation falls by 1%, the revenue for financing results musharaka is also predicted to decrease by 125846324,447. in this case, other influential factors are considered permanent.
Regression coefficient X2 has a positive relationship of 3,630 for the variable operational costs, which means that for every 1% increase in operating costs, the income will increase by 3.630%.Vice versa, if operating costs fall by 1%, then revenue for musyarakah financing results is also predicted to decrease by 3,630; in this case, other influential factors were considered constant.

Hypothesis 1. Test T-Test (Partial Test)
The T-test is used to test the hypothesis partially to show each independent variable's effect individually on the dependent variable.The t-test in multiple linear regression is intended to test whether the parameters (regression coefficients and constants) which are assumed to estimate the equation / multiple linear regression model are the correct parameters or not.
The results obtained from statistical tests using SPSS 22 that have been done can be seen in Table

Influence of Inflation on financing Revenues Musyarakah
From table coefficients seven, it can be explained that the value of Sig.<α and t arithmetic> t table, it can be concluded that reject Ho and accept Ha.Thus, the inflation variable has a positive and significant effect on musharaka financing.
The results of this study are consistent with previous studies conducted by Fahruddin (2009) entitled "Influence of inflation, capital adequacy ratio, credit risk, third party funds and networks on financing of Islamic banks in 2006-2008" that the results of the inflation variable have a positive effect and significant to financing at Islamic banks.
Then in Sofyan's research (2011), with the title "The effect of per capita income, interest rates, money supply and inflation on the amount of savings in Indonesia," that the results of the study of inflation have a positive and significant effect on the amount of savings in Indonesia.

b. Effect of Operational Costs on financing Revenues Musyarakah
From table coefficients seven, it can be explained that to test the significance of the variable operational costs on musyarakah financing have value of Sig, < α and t arithmetic> t table, it can be concluded that accepting Ha and rejecting Ho.Thus, it means that the operational cost variable has a positive and significant effect on musyarakah financing.
The results of this study are consistent with previous research conducted by Fauziyah (2016) on "The effect of operational costs, inflation, and Gross Domestic Product on musyarakah financing" that results in variable operational costs have a positive and significant effect on musyarakah financing.
Then in Purwaningsih's research (2010) entitled "Analysis of external and internal factors that affectfinancing margins murabaha" that operational costs (BOP) have a positive and significant effect on the financing margin of murabahah Bank Muamalat Indonesia (BMI).

F Test (Simultaneous)
In simultaneous testing will be tested the effect of two independent variables together on the dependent variable.
The results obtained from statistical tests using SPSS 22 that have been done can be seen in Table 8 with the details as follows: Guidelines used are: if Sig. <α, then Ho is rejected, which means a linear relationship exists between inflation and operational costs with musyarakah financing.Table 8 of the F test results above reads a statistical F value of 15.887 with a level probability of 0,000.Because the probability (0,000) is much smaller than 0.05 (in this case, using a level significance or α = 5%), it can be concluded that Ha is accepted and Ho is rejected.So it can be said that jointly the inflation variable and operational cost significantly influence the income variable of musyarakah financing.
The results of this study are consistent with previous research conducted by Fauziyah in 2016 on the effect of operating costs, inflation, and Gross Domestic Product on musyarakah financing, that the results of inflation variables operational costs have a positive and significant effect on musyarakah financing.

3.
Test Adjusted R 2 (Determination Coefficient) Determination Coefficient Analysis (KD) is used to see how much the independent variable (X) has an impact on the dependent variable (Y) expressed as a percentage.Testing the hypothesis R 2 can be seen in Table 9: For multiple linear regression, it is better to use R square as an adjusted or written.
Adjusted R Square because it is adjusted to the number of independent variables used.From table 16.1 above, it is known that the figure Adjusted R square or the coefficient of determination is 0.419, which means that the inflation variable and operational costs together have a contribution to the financing musyarakah income by 41.9% while the remaining 58.1% (100% -41.9%) influenced by other variables not examined or not included in this research model.

C. Discussion of Results of Analysis of the 1. Effects of Inflation on financing Revenues Musyarakah
According to Gilarso (2004: 200), inflation is an increase in the price level caused by a disruption in the balance of money and goods, which means that inflation increases the overall price level of goods/commodities and services over a given period.Inflation has a detrimental effect on the welfare of society in several ways, one of which is that it diminishes the value of money-based wealth (Murni 2007: 206).
Inflation is defined as an increase in the price of goods or services.Increased inflation will erode people's purchasing power as a result of high prices.To rein in rising inflation, Bank Indonesia (BI) established a benchmark interest rate policy, which serves as a guide for banks in determining the interest rates they issue.Additionally, by being attracted to an abundance of money in circulation, the economy will grow faster and contain inflation.
According to the study's findings, inflation has a positive and statistically significant effect on musharaka financing.This is demonstrated by the results of statistical tests conducted using SPSS 22 with Sig.With less than and t arithmetic greater than t table, it can be concluded that Ho is rejected and Ha is accepted, implying that the initial hypothesis about inflation's effect on financing musyarakah income at Bank Muamalat Indonesia is acceptable.
Thus, inflation has a significant positive effect on musyarakah financing.This means that as inflation rises, musharaka financing revenue rises as well, and vice versa.If inflation falls, the revenue generated by musharaka financing will fall.
This study corroborates previous research by Fahruddin (2010) that the inflation variable has a

1. Descriptive Statistics Analysis Descriptive statistics
are used to see an overview of the data used.The table below shows descriptive statistics for the variables produced by processed SPSS 22 in this study.

Table 4 Testing autocorrelation Model Summary
Based on table 4 states the autocorrelation test results table, as follows:

Table 6 Testing of Multiple Linear Regression Analysis Coefficients
Based on the regression equation table, it can be analyzed the effect of each independent variable on the dependent variable, namely: