This study is an attempt at solving the chronic problems of banking murabaha, notably the ribawi benchmark rate problem. To this end, the first stage of this study examines whether the recent solution for banking murabaha, namely Islamic Interbank Benchmark Rate (IIBR), is a sustainable solution to solve the problem. The Johansen cointegration test between IIBR and LIBOR, as an international benchmark rate, as well as IIBR and JIBOR, as an Indonesian one, is performed to prove that notion. The results suggest that IIBR has long-run equilibrium relationship with the two ribawi benchmark rates. IIBR hence does not fulfil the sustainability feature as a long-run solution for Islamic finance. The second stage of this study proposes the so-called universal Islamic banking system as a solution to remedy the problem. The proposed model is not only theoretically appealing but also practically possible to be implemented.

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迈向可持续的伊斯兰银行体系：重新纳入穆拉巴哈的融资模式

这项研究是为了解决银行业穆拉巴哈的长期问题，特别是拉巴维基准利率问题。为此，本研究的第一阶段研究了最近的银行业murabaha解决方案，即伊斯兰银行同业基准利率（IIBR）是否是解决该问题的可持续解决方案。进行了IIBR和LIBOR之间的Johansen协整检验（作为国际基准利率），以及IIBR和JIBOR作为印度尼西亚的基准利率。结果表明，IIBR与两个拉巴维基准利率具有长期的均衡关系。因此，IIBR无法满足伊斯兰金融长期解决方案的可持续性要求。本研究的第二阶段提出了所谓的普遍伊斯兰银行系统，以解决该问题。