Implementation Strategy of the Mutanaqishah Musyarakah Academic at Home Ownership Financing in Sharia Banks in Indonesia

Musyarakah Mutanaqishah is a contract in the form of investment and financing adopted by companies and financial institutions. This form of financing emerged and spread, especially in companies as a means of financing and investing together with murabaha, ijarah and other financing tools. The increasing popularity of musyarakah mutanaqishah as the principle for regulating Islamic home financing products in Islamic banks has resulted in a Abstract

assumptions (the asset will perform in the future as it did in the past) and then modifies that allocation taking into account the investor's opinion of the asset's future performance.
Asset allocation is a decision faced by an investor who must choose how to allocate his portfolio to a number of asset classes. In order to calculate the portfolio of intersections and the maximum investment, separate risky assets from risk-free assets. Investors need accurate estimates of the expected returns, variance and covariance assets. In practice this can be very challenging, especially if many assets have been considered. Furthermore, mean variance optimization is very sensitive to the expected return estimates.
In principle Modern Portfolio Theory (Markowitz's mean-variance approach) offers a solution to this problem once the expected returns and covariances of the assets are known. While Modern Portfolio Theory is an important theoretical advance, its universal application faces a problem: although the covariance of some assets can be adequately estimated, it is difficult to produce reasonable estimates of expected returns.
Black -Litterman solves this problem by not asking the user to enter an estimate of expected return; instead of assuming that the initial expected return is whatever is required so that the equilibrium asset allocation equals what we observe in the market. The user is only asked to state how his assumptions about the expected return differ from the market and to state his level of confidence in the alternative assumptions. From this, the Black-Litterman method calculates the desired (mean-variance efficient) asset allocation. In general, when there is a portfolio constraint for example, when short sales are not allowed the easiest way to find the optimal portfolio is to use the Black -Litterman model to produce a favorable return expected for the asset.

Transaction Cost Theory
Transaction Cost Theory or transaction cost analysis is the application of an economic perspective to explain global transactions. Douglass North states that there are four factors consisting of transaction costs, namely, measurement, enforcement, ideological attitudes and perceptions, and market size. Measurement refers to calculating the value of all aspects of the goods or services involved in a transaction. Enforcement can be defined as the need for a third party who is unable to ensure that none of the parties involved in the transaction deny part of the agreement. The first two factors emerge in the concept of attitudes and ideological perceptions, the third aspect of transaction costs. Ideological attitudes and perceptions encapsulate each individual's set of values, which influence their interpretation of the world. The final aspect of transaction costs, according to North. Transaction costs can be divided into three broad categories, namely search costs and information costs such as in determining that the goods needed are available in the market, which have the lowest price, and others. Bargaining and decision costs are those required to reach an acceptable agreement with the other party in the transaction, conclude the appropriate contract, and so on. Policing and law enforcement costs are the costs of ensuring the other party sticks to the terms of the contract, and takes appropriate action (often through the legal system) if this is not the case.
The term "transaction costs" is often thought to have been coined by Ronald Coase, who used it to develop a theoretical framework for predicting when certain economic tasks would be performed by firms, and when those tasks would be performed in the marketplace. However, the term did not actually exist in his early work until the 1970s. Although he did not make any specific terms, Coase did discuss "costs using the pricing mechanism" in his 1937 paper The Nature of the Firm. Where he first discusses the concept of transaction costs, and refers to "Market Transaction Costs" in his major work, The Problem of Social Cost. The term "Transaction Cost" itself can be traced back to 1950s monetary economics literature,

Theory of Reasoned Action and Theory of Planned Behavior
The study of behavioral finance began to develop since 1900. Behavioral finance is a response to standard finance which focuses on a rational and static approach, while behavioral finance is more about seeing financial actors as human behavior. Pompian provides a complete discussion of behavioral finance in his book, Behavioral Finance and Wealth Management. This book is a guide to understanding irrational investor behavior and creating individual portfolio investors through irrational behavior.
Among the theories included in behavioral finance are Theory of Reasoned Action and Theory of Planned Behavior, these two theories are used to predict user or bank customer behavior related to reactions when faced with choices in purchasing products or services. Theory of reasoned action aims to explain the relationship between attitudes and behavior in human action. It is mainly used to predict how individuals will behave based on their preexisting attitudes and behavioral intentions. Individual decisions to engage in certain behaviors are based on the results the individual expects as a result of that behavior. Developed by Martin Fishbein and Icek Ajzen in 1967, this theory stems from previous research in the fields of social psychology, persuasion models, and attitude theory.
The main purpose of Theory of reasoned action is to understand the voluntary behavior of an individual by examining the underlying underlying motivation to perform an action. Theory of reasoned actionstates that a person's intention to perform a behavior is the main predictor of whether they actually do the behavior or not. In addition, the normative component (i.e. the social norms surrounding the action) also contributes to whether the person will actually perform the behavior or not. According to the theory, the intention to perform a certain behavior precedes the actual behavior. These intentions are known as behavioral intentions and arise as a result of the belief that performing the behavior will lead to a certain outcome. Behavioral intentions are important to theory because they are "determined by attitudes toward subjective behavior and norms." The theory of reasoned action suggests that stronger intention leads to increased effort to perform behavior.

III. Research Methods
This research is a combination research or mixed methods. Combined research is a research method that combines or combines quantitative methods and qualitative methods to be used jointly in a research activity, in order to obtain data that is more comprehensive, valid, reliable, and objective. Comprehensive data is complete data which is a combination of quantitative and qualitative data. Valid data are data that have a high degree of accuracy between data that actually occurs and data reported by researchers. Reliable data is data that is consistent over time and from person to person. Objective data is data that many people agree on. By using a combination method, the objectivity of the data obtained through qualitative methods that are subjective can be increased in a wider sample by means of the quantitative method.
When viewed from the object of study, this research is a combination of field research (field research) and library research (library research), namely research that relies on data obtained from in-depth interviews, journals, and research results.By using a combination method, the weaknesses found in both the quantitative and the qualitative methods are expected to be reduced or eliminated even if possible can be eliminated.

IV. Discussion
After conducting in-depth interviews with research informants and literature review through searching the literature related to research studies, a decomposition of the 5 problems constructed in a model can make it easier for researchers or respondents to understand the problem of implementing the Musyarakah agreement. mutanaqisah in financing home ownership in Islamic Bank Medan City.
The strategy model for implementing the Musyarakah Mutanaqisah contract on home ownership financing in Islamic Banks in Indonesia made by the Super Decisions Software can be seen in Figure 1 below.

Synthesis Analysis of Research Results
Referring to the methodology used, namely the Analytic Network Process (ANP) to see the priority scale according to the Islamic banking experts and practitioners who were respondents in this study.
To see the results of the priority synthesis of each respondent can be seen in Figure 2 below:

Figure 2. Synthesis Results of Priority Internal Problems based on the Value of Each Respondent
Internal Banking Product Based on the results of data processing through Super Decision Software, the priority of internal banking problems is obtained according to the opinion of all respondents as shown in Figure 3 below:

Figure 3. Synthesis of Priorities for Internal Banking Problems Based on Average Values
To see the results of the priority synthesis of each respondent, it can be seen in Figure 4 below:

Internal Problem Analysis: Human Resources
This discussion will describe the results of the synthesis on the internal problem subcluster to determine the strategy for implementing the musyarakah mutanaqisah contract on home ownership financing in Islamic Banks in Indonesia, namely the problem of human resources (HR). Based on the results of data processing through Super Decision Software, the priority of human resource problems is obtained in the opinionall respondents as shown in Figure 5 below:

Figure 8. Synthesis Results of Product Problem Priorities
Based on the results of data processing through Super Decision Software, the priority of external problems is obtained according to the opinion of all respondents as shown in Figure  9 below:

Figure 9. Synthesis Result of External Problem Priority Based on Average Value
To see the results of the priority synthesis of each respondent can be seen in Figure 10

External Problem Analysis: Customer
This discussion will describe the results of the synthesis on the external problem sub cluster to determine the strategy for implementing the musyarakah mutanaqisah contract on home ownership financing in Islamic Banks in Indonesia, namely customer problems. Based on the results of data processing through Super Decision Software, the priority of customer problems is obtained according to the opinion of all respondents as shown in Figure 13 below:

Figure 13. Synthesis Results of Customer Problem Priorities Based on Average Value
To see the results of the priority synthesis of each respondent, it can be seen in Figure  14 below:

External Problem Analysis: Authority
This discussion will describe the results of the synthesis on the external problem sub cluster to determine the strategy for implementing the musyarakah mutanaqisah contract on home ownership financing in Islamic Banks in Indonesia, namely the issue of authority. Based on the results of data processing through Super Decision Software, the priority of authority issues is obtained according to the opinion of all respondents as shown in Figure 15  Based on the results of data processing through the Super Decision Software, internal solution priorities are obtained according to the opinion of all respondents as shown in Figure  17 below:

Figure 17. Synthesis Result of Internal Solution Priority Based on Average Value
To see the results of the priority synthesis of each respondent, it can be seen in Figure  18 below: There is no policy yet

Lack of Support
There is no policy yet Lack of Support

Internal Solution Analysis: Internal Banking
Based on the results of data processing through Super Decision Software, the priority for internal banking solutions is obtained according to the opinion of all respondents as shown in Figure 19 below:

Figure 20. Results of the Priority Synthesis of Internal Banking Solutions Based on the Value of Each Respondent
Figure 20 above shows that the results of the priority synthesis per respondent show that out of 10 (ten) respondents, 3 (three) respondents answered that internal banking solutions were the most priority in determining the strategy for implementing the Musyarakah Mutanaqisah contract on home ownership financing at Islamic Banks in Indonesia is a commitment, then 3 (three) people answered that the most priority internal banking solution is building a network. Then 2 (two) people answered that the most priority internal banking solutions were changes in portfolio structure, 1 (one) respondent argued that the internal banking solutions in the form of commitment, network building and portfolio structure changes had the same priority. And 1 (one) respondent argues that the internal banking solution is a commitment, and changes in portfolio structure have the same priority in determining the strategy for implementing the musyarakah mutanaqisah contract on home ownership financing in Islamic Banks in Indonesia. This is in line with the rater agreement figure obtained, which is 0.8%.

Internal Solution Analysis: Human Resources
This discussion will describe the results of the synthesis of the internal sub-solution cluster to determine the implementation strategy of the Musyarakah Mutanaqisah Akad on home ownership financing in Islamic Banks in Indonesia, namely the human resource (HR) solution. Based on the results of data processing through Super Decision Software, the priority of human resource (HR) solutions is obtained according to the opinion of all respondents as shown in Figure 21  To see the results of the priority synthesis of each respondent, it can be seen in Figure 24 below:

Figure 24. Synthesis Results Priority Product Solutions Based on the Value of Each Respondent
Based on the results of data processing through Super Decision Software, the priority for external solutions is obtained according to the opinion of all respondents as shown in Figure 25 below:

Figure 25. Synthesis of External Solution Priority Based on Average Value
To see the results of the priority synthesis of each respondent can be seen in Figure  26 below:

Figure 26. Synthesis Results of External Solutions Priority Based on the Value of Each Respondent
Product Development

Akad Variation
Strengthening Synergy Based on the results of data processing through Super Decision Software, the priority of customer solutions is obtained according to the opinion of all respondents as shown in Figure  27 below:

Figure 27. Synthesis Results of Customer Solutions Priority Based on Average Value
To see the results of the priority synthesis of each respondent, it can be seen in Figure  28 below:

Figure 28. Synthesis Results of Customer Based Priority Solutions Value of Each Respondent
Based on the results of data processing through Super Decision Software, the priority of authority solutions is obtained according to the opinion of all respondents as shown in Figure  29 below:

Training and Workshop Promotion
To see the results of the priority synthesis of each respondent, it can be seen in Figure  30 below:

Figure 30. Synthesis Results of Authority Solutions Priority Based on the Value of Each Respondent
To see the results of the priority synthesis of each respondent, it can be seen in Figure  31 below: To see the results of the priority synthesis of each respondent can be seen in Figure 3.36 below:

V. Conclusion
The first main problem is the problem faced by Islamic Banking in the implementation of Musyarakah Mutanaqishah Financing. Based on the research results, it can be concluded that the main problems faced by Islamic banking originate from internal and external problems. Internal problems originate from internal Islamic banking (prioritized business orientation, lack of understanding of the MMQ concept, not being a priority and lack of commitment in developing MMQ) HR (Low knowledge and skills about the MMQ contract, target orientation, lack of experts and lack of effort) and products (products are still oriented towards buying and selling, weak financing portfolios in developing MMQ, Weak synergy of MMQ product development in Islamic banking) while external problems consist of customers (lack of knowledge about MMQ, lack of / low trust in Islamic banks, lack of information about MMQ products and portfolios), Islamic banks (differences in vision in developing sharia business, lack of knowledge about MMQ, weak perceptions in developing MMQ holistically or in synergy), authority (lack of understanding of the MMQ concept, lack of commitment in MMQ development, lack of policy support in facilitating MMQ development portfolios and lack of incentives in developing MMQ products). From the results of research conducted by researchers for internal problems, the most dominant is HR problems with Geomean results of lack of commitment in developing MMQ, lack of policy support in facilitating MMQ development portfolios and lack of incentives in developing MMQ products). From the results of research conducted by researchers for internal problems, the most dominant is HR problems with Geomean results of lack of commitment in developing MMQ, lack of policy support in facilitating MMQ development portfolios and lack of incentives in developing MMQ products). From the results of research conducted by researchers for internal problems, the most dominant is HR problems with Geomean results of0.3522262. And the most dominant of the HR problems is the low knowledge and skills about the MMQ contract with geomean results of 0.5943404. Meanwhile, the most dominant external problem was the problem of Islamic banking with a geological result of 0.3876553. And the most dominant problem of Islamic banks is the lack of insight into the MMQ contract with a geomantic result of 0.5220724.