This paper puts Bayt al-Māl wa al-Tamwīl (BMT) operational activities position, which by law in
Indonesia BMT is called as Koperasi Jasa Keuangan Syariah (KJKS, Sharia Financial Service
Cooperatives), as an ideal sharia banking activities, where those activities involve all of
community component: micro, small, medium, and high economic class; and as a constitutional
sharia financial institution in Indonesia. Based on that fact, with appropriate to the law, BMT
could involve in sharia financial industry and market complexities. The activities and involvements
would bring consequences that BMT is included as financial institution that must be supervised
and must allow periodic supervision related to its operational soundness.
Research in this paper analyzes BMT operational soundness based on CAMELS rating system plus
examination. The system is composed of integration of sharia banking CAMELS rating system that
was researched by Muljawan and Sharia Banking Directorate – Bank Indonesia, and BMT
performance calculation system that was formulated by Pusat Inkubasi Bisnis dan Usaha Kecil
(Pinbuk, Center for Micro Enterprise Incubation). CAMELS plus system is sharia banking
CAMELS that accommodates all of aspects of BMT character.
CAMELS rating system plus has been used for analyzing BMT operational soundness. The
accurate process is applied to synthetic and actual data of BMT, particularly with mathematics,
accounting, and banking economics approximation. This system is accurate and capable for
processing and analyzing step by step operational soundness of BMT: quantitative and qualitative
aspects, including sharia aspects compliance. CAMELS plus assessment results are a composite
rating of BMT operational soundness that is classified: quite sound (P1), sound (P2), sound
enough (P3), less sound (P4), or unsound (P5); analysis and rating of soundness of every
indicator, major area, and component of CAMELS; constructive advices of BMT soundness
quality improvements; action plan and analysis of operational continuities. CAMELS plus results,
which is continued with action plan and analysis of operational continuities, will give the best
solution, whether BMT must stand in or improve its soundness qualities, for quite sound of BMT
continuities.
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