Customer Satisfaction and Islamic Financial Literacy as Determinants of Murabahah Financing Repayment Behavior: Evidence from an Indonesian Islamic Rural Bank

Muhammad Syahrul Syahroni; Kharis Fadlullah Hana

doi:10.59059/jupiekes.v4i3.3427

Authors

Muhammad Syahrul Syahroni Universitas Islam Negeri Sunan Kudus
Kharis Fadlullah Hana Universitas Islam Negeri Sunan Kudus

DOI:

https://doi.org/10.59059/jupiekes.v4i3.3427

Keywords:

Customer Satisfaction, Islamic Financial Literacy, Islamic Rural Bank, Murabahah Financing, Repayment Behavior

Abstract

Repayment behavior is a crucial factor in maintaining the sustainability of Islamic financing, particularly under Murabahah contracts, where payment discipline directly affects the financial performance of Islamic rural banks. Despite the increasing adoption of Murabahah financing, repayment performance is often challenged by variations in customer satisfaction and Islamic financial literacy. This study aims to examine the influence of customer satisfaction and Islamic financial literacy on customers' repayment behavior in Murabahah financing at BPRS Gala Mitra Abadi. The study contributes to the Islamic banking literature by integrating service-related and financial literacy perspectives into a single empirical model to explain repayment behavior. A quantitative explanatory approach was employed using survey data collected from 70 active Murabahah financing customers selected through purposive sampling. Data were analyzed using Structural Equation Modeling based on Partial Least Squares (SEM-PLS) with SmartPLS software. The findings indicate that customer satisfaction has a positive and statistically significant effect on repayment behavior (β = 0.228; p = 0.023). Islamic financial literacy also demonstrates a positive and stronger influence on repayment behavior (β = 0.513; p < 0.001). Furthermore, both variables jointly explain 52.7% of the variance in customers' repayment behavior (R² = 0.527), suggesting that they represent important determinants of repayment discipline in Murabahah financing. These findings imply that improving service quality and strengthening Islamic financial literacy programs may enhance customers' repayment commitment while reducing financing risk in Islamic rural banks.

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