The Implementation of the Standard Operational Procedures and Profit Sharing System in Mudharabah Saving (A Case Study at BM

In the gathering of the public’s fund through Mudharabah saving, the BMT
(mudharib or fund manager) and the cooperative members require a standard
operational procedure (SOP) as a work frame to run the business professionally. The
profits to be gained by both parties follow the profit sharing scheme agreed upon in
the prior agreement. The profit sharing ratio is dependent on the factors which affect
how much or little amount of profits to be shared.
The study used a qualitative research design which applied a descriptive
method aiming at describing the implementation of SOP in mudharabah saving,
profit sharing system, and the factors influencing how much or little amount of
profits to be shared. In addition, the study analyzed the problems that appeared in
their implementation and sought and offered alternative solutions to the problems.
The study used a qualitative data analysis technique and applied data triangulation
technique to examine the data validity.
Based on the findings, it can be inferred that the implementation of SOP in
mudharabah saving at BMT MMU Wonorejo-Pasuruan Brach has realized the BMT
visions and missions when they give or provide abridged services to help the
cooperative members which in turn have encouraged greater interest in the part of
the public to save their money at BMT. Even though there still was a small number
of savers or depositors not following the procedures, it was due to their
unknowledgability and negligence of the saving procedures, such as signing the
signature slot, as required on the transaction document. Therefore, the BMT MMU
Wonorejo-Pasuruan Branch applies a distinctive, customized policy for their
downtown-based small traders’ savings.
In applying their policy, the profit gain system follows the profit sharing
principles which is based on the nominal value stated on the daily balance in order
to know the amount of fund which have been invested by the members or savers.
However, should financial loss is experienced, BMT should take full responsibility