Electronic Theses and Dissertation

Bab v kesimpulan dan saran 5.1 kesimpulan berdasarkan hasil pengamatan, wawancara, dan analisis yang dilakukan selama kegiatan kerja praktik di bank muamalat kcu banda aceh serta pembahasan yang telah diuraikan pada bab-bab sebelumnya, dapat ditarik kesimpulan sebagai berikut. pertama, sukuk negara atau surat berharga syariah negara (sbsn) merupkan instrumen keuangan negara berbasis syariah yang diterbitkan berdasarkan undang-undang nomor 19 tahun 2008 dan didukung oleh fatwa dewan syariah nasional–majelis ulama indonesia (dsn-mui) nomor 69/dsn-mui/vi/2008. instrumen ini berfungsi ganda sebagai sarana pembiayaan apbn dan alternatif investasi syariah bagi masyarakat. di bank muamalat kcu banda aceh, jenis yang dipasarkan kepada investor individu adalah sukuk ritel (sr) dengan imbalan tetap dan sukuk tabungan (st)dengan imbalan mengambang, yang keduanya dijamin penuh oleh negara dengan minimum investasi rp1.000.000,00. kedua, bank muamalat indonesia sebagai mitra distribusi resmi yang ditetapkan melalui surat direktorat jenderal pengelolaan pembiayaan dan risiko (djppr) nomor s-916/pr/2019 menjalankan peran yang bersifat komprehensif, meliputi fungsi pemasaran, distribusi, administrasi kepemilikan sbsn melalui sistem subregistry, stand-by buyer di pasar sekunder, fasilitator pembayaran imbal hasil dan pelunasan pokok, serta edukasi literasi keuangan syariah kepada masyarakat. 34 ketiga, pelaksanaan distribusi sukuk negara di bank muamalat kcu banda aceh berjalan melalui dua jalur, yaitu jalur daring (online) melalui platform e-sbn dan aplikasi muamalat din, serta jalur luring (offline) melalui layanan langsung di kantor cabang.pada periode 2023-2024 bank brhasil mendistribusikan sukuk negara senilai rp24,52 miliar kepada 192 investor. kendala utama yang dihadapi berupa rendahnya literasi keuangan syariah, keterbatasan akses digital, dan persepsi risiko yang keliru, yang diatasi melalui program edukasi berkelanjutan dan penguatan layanan luring. 5.2 saran berdasarkan kesimpulan yang telah dikemukakan, penulis mengajukan beberapa saran sebagai berikut. pertama, bank muamalat kcu banda aceh disarankan untuk memperluas program edukasi keuangan syariah ke wilayah-wilayah di luar pusat kota banda aceh dengan melibatkan pemerintah daerah, organisasi kemasyarakatan, pesantren, dan lembaga pendidikan tingkat kecamatan. hal ini bertujuan agar pemahaman masyarakat mengenai sukuk negara dapat meningkat secara signifikan serta basis investor dapat terus diperluas. kedua, kementerian keuangan ri disarankan untuk terus berinovasi dalam pengembangan produk surat berharga syariah negara (sbsn) yang lebih mudah diakses oleh masyarakat berpenghasilan menengah ke bawah, antara lain melalui penyederhanaan prosedur registrasi digital dan penerbitan seri sukuk negara dengan tenor yang lebih beragam sesuai kebutuhan investor di berbagai daerah. ketiga, masyarakat dan calon investor di banda aceh dan sekitarnya disarankan untuk lebih aktif mencari informasi mengenai produk investasi syariah yang ditawarkan pemerintah, khususnya sukuk negara, melalui layanan konsultasi di bank muamalat kcu banda aceh atau melalui situs resmi direktorat jenderal pengelolaan pembiayaan dan risiko (djppr) kementerian keuangan di www.djppr.kemenkeu.go.id, sebelum mengambil keputusan investasi.

CHAPTER V CONCLUSIONS AND RECOMMENDATIONS 5.1 Conclusions Based on the observations, interviews, and analyses conducted during the internship at Bank Muamalat KCU Banda Aceh, as well as the discussions presented in the previous chapters, the following conclusions can be drawn. First, State Sukuk, also known as Government Sharia Securities (*Surat Berharga Syariah Negara* or SBSN), is a Sharia-compliant government financial instrument issued under Law Number 19 of 2008 and supported by Fatwa of the National Sharia Council–Indonesian Ulema Council (DSN-MUI) Number 69/DSN-MUI/VI/2008. This instrument serves a dual purpose: as a source of financing for the State Budget (*Anggaran Pendapatan dan Belanja Negara* or APBN) and as an alternative Sharia investment instrument for the public. At Bank Muamalat KCU Banda Aceh, the products offered to individual investors are Retail Sukuk (SR), which provides a fixed return, and Savings Sukuk (ST), which offers a floating return. Both instruments are fully guaranteed by the Government of Indonesia, with a minimum investment amount of IDR 1,000,000. Second, Bank Muamalat Indonesia, as an official Distribution Partner appointed through the Directorate General of Financing and Risk Management (DJPPR) Letter Number S-916/PR/2019, performs a comprehensive role covering the marketing and distribution of SBSN, administration of SBSN ownership through the sub-registry system, acting as a Stand-By Buyer in the secondary market, facilitating coupon payments and principal redemption, and providing Sharia financial literacy education to the public. Third, the distribution of State Sukuk at Bank Muamalat KCU Banda Aceh is carried out through two channels: online services via the e-SBN platform and the Muamalat DIN application, and offline services through direct customer assistance at the branch office. During the 2023–2024 period, the bank successfully distributed State Sukuk worth IDR 24.52 billion to 192 investors. The main challenges encountered include limited Sharia financial literacy, restricted digital access, and misconceptions regarding investment risks. These challenges have been addressed through continuous educational programs and the enhancement of offline customer services. 5.2 Recommendations Based on the conclusions presented above, the author proposes the following recommendations. First, Bank Muamalat KCU Banda Aceh is encouraged to expand its Sharia financial literacy programs to areas outside the center of Banda Aceh by collaborating with local governments, community organizations, Islamic boarding schools (*pesantren*), and educational institutions at the sub-district level. This initiative aims to improve public understanding of State Sukuk and to broaden the investor base. Second, the Ministry of Finance of the Republic of Indonesia is encouraged to continue innovating in the development of Government Sharia Securities (SBSN) products that are more accessible to middle- and lower-income communities. Such efforts may include simplifying digital registration procedures and issuing State Sukuk series with more diverse maturities to accommodate the investment needs of people in different regions. Third, the public and prospective investors in Banda Aceh and its surrounding areas are encouraged to actively seek information regarding the Sharia investment products offered by the Government, particularly State Sukuk. They are advised to utilize consultation services available at Bank Muamalat KCU Banda Aceh or access information through the official website of the Directorate General of Financing and Risk Management (DJPPR), Ministry of Finance of the Republic of Indonesia, before making investment decisions.