UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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Pemberdayaan Perkembangan Wakaf dan Implementasinya di Masyarakat
Get PDFWakaf berperan penting dalam pembangunan ekonomi sehingga mewujudkan kemaslahatan bagi seluruh ummat. Hasil dari wakaf tersebut sangat banyak manfaatnya, dimana dari hasil wakaf tersebut dapat dipergunakan untuk memberikan pendidikan yang sangat baik secara gratis dari tingkat sekolah dasar hingga perguruan tinggi. Lembaga wakaf memiliki tanggung jawab yang sangat besar untuk membangkitkan kegiatan masyarakat bukan bertujuan untuk memperoleh kekuasaan di pemerintahan sebagaimana juga tidak sepenuhnya berorientasi pada profit saja seperti yang terjadi pada perusahaan swasta dan lembaga non wakaf lainnya. Perkembangan wakaf Islam adalah untuk membentuk karakter khusus yang bisa menjadikan hukum Islam lebih baik lagi. Pengelolaan dana wakaf dana hendaknya memeiliki tujuan yang pasti hendaknya dialokasikan/didistribusikan dengan orientasi bisnis yang Islami
Sosialisasi Asuransi Syariah Versus Asuransi Konvensional Guna Meningkatkan Pengetahuan dalam Investasi
Get PDFInvestasi keuangan saat ini didominasi oleh investasi berbasis konvensional yang salah satunya masih menggunakan sistem bunga. Seiring dengan perubahan zaman dan perubahan pandangan hidup seseorang dalam menjalankan investasi, penerapan sistem keuangan konvensional menjadi sangat memberatkan. Lalu dibuatlah sistem keuangan alternatif yang berbasis syariah untuk dapat mengatasi masalah dalam investasi keuangan. Sistem Islam mengacu pada Quran dan Hadits yang berhubungan langsung dengan hukum yang diciptakan oleh Allah SWT. Prinsip dasar sistem ini adalah menghindari gharar, maisir, dan riba. Salah satunya adalah asuransi syariah, asuransi merupakan salah satu lembaga keuangan non bank yang melayani penghimpunan dana masyarakat dalam bentuk investasi jangka panjang untuk memberikan perlindungan risiko dan ketidakpastian yang menyebabkan terjadinya bencana, kecelakaan, atau kerugian lainnya di masa depan. Asuransi berdasarkan sistem operasionalnya terbagi menjadi dua jenisnya, yaitu Asuransi Syariah dan Asuransi Konvensional. Asuransi Syariah merupakan inovasi lembaga keuangan non bank yang baru dan berdasarkan prinsip-prinsip Islam. Asuransi Syariah masih belum banyak diketahui oleh masyarakat khususnya masyarakat Indonesia yang sebagian besar penduduknya beragama Islam. Berdasarkan fenomena tersebut, maka perlu adanya penjelasan mengenai perbandingan antara kedua jenis tersebut yang tentunya memberikan pengetahuan tersendiri bagi masyarakat untuk memilih penggunaan jenis asuransi
Sharia investment Challenges and Growth for Sustainable and Inclusive Financial Equality in Digital Innovation
Get PDFThe article explores how Islamic finance aligns with sustainability goals converge and shows how Sharia finance can help promote a more equitable and environmentally friendly world. The research method used is a Systematic Literature Review with a descriptive approach. The (LSR) approach is a mixture of collecting relevant and legitimate academic literature from diverse sources. The finding of the research shows that various sustainability objectives are aligned with the basic principles of risk sharing, Socially Responsible Investment, Prohibition of Harmful Investments, Prohibition of Riba (Interest), and Avoidance of Gharar (Uncertainty). Infrastructure developments and renewable energy projects can be promoted by instruments like Islamic Bonds (Sukuk), Sharia-Compliant Funds, Islamic Loans and Islamic Insurance that satisfy Sharia law. These efforts are enhanced through innovations that allow mobile banking services or microfinancing solutions, reaching out even to marginalized groups by Islamic principles. Despite all these, the finding also shows that there are some challenges face by Islamic banking in various countries. The mean challenges faces are: Regulatory challenges, Interpretation of sharia law, Market Competitiveness, and Lack of Awareness. It is essential to have sharia interpretations and sound regulatory frameworks to enhance transparency and prevent malpractices. Furthermore, improving literacy and increasing access to technology is essential to help narrow the gap and ensure equal participation in financial sectors for inclusiveness. In this era of technological advancements, by addressing these challenges while leveraging the capabilities of instruments compliant with Shariah principles, Islamic investment products may drive sustainable inclusive finance
Gold Investment at Hajj Financial Management Agency (BPKH)
Get PDFThis research aims to analyze the influence of macroeconomic factors on price movements in Pegadaian gold accounts, analyze the factors that BPKH must put into consideration when investing in gold, and analyze the better gold instrument that are more recommended for BPKH between gold bullion and gold accounts. The influence of macroeconomic factors’ analysis on the price movement of Pegadaian gold accounts was carried out using a multiple linear regression method with five independent variables, namely international gold prices, inflation rate, rupiah exchange rate against USD, interest rate, economic growth rate, and one dependent variable, namely price Pegadaian gold account. Meanwhile, analysis of the factors that BPKH must pay attention to when investing in gold and gold instruments is carried out using the ANP (Analytic Network Process) qualitative method. Multiple linear regression analysis shows that the international gold price, exchange rate, inflation rate, and economic growth rate have a significant effect on the price of Pegadaian gold accounts. Meanwhile, the interest rate does not have a significant effect on the price of Pegadaian gold accounts. The variables of international gold prices and the Rupiah exchange rate against USD have a positive correlation, while the variables of inflation rate, reference interest rate and economic growth rate have a negative correlation with the price of Pegadaian gold accounts. The results of ANP data processing confirm the results of multiple linear regression analysis, stating that international gold prices, the Rupiah exchange rate against USD, and the inflation rate are the three main macroeconomic factors that influence gold price movements. The results of the ANP questionnaire processing also state that BPKH needs to pay attention to several factors in investing in gold, namely macroeconomic factors, risk factors and sharia compliance factors. As many as 90% of respondents to the ANP questionnaire recommended Pegadaian gold accounts as a better investment instrument for BPKH considering the mitigation of operational risk and is considered more liquid, referring to Pegadaian buyback policy. Meanwhile, 10% of respondents to the ANP questionnaire preferred gold bullion instruments with clearer sharia contract considerations. In order to diversify as well as to maintain asset value when unstable economic conditions occur, BPKH should increase the gold investment portfolio with maximum limit is 5% of the total investment and/or bank placement of hajj fund. When investing in gold, BPKH should pay attention to the movements in macroeconomic factors, namely international gold prices, exchange rates, inflation rate and economic growth rates. BPKH must also pay attention to risk factors and sharia comply of the gold instrument. Apart from the efforts to increase the financial benefits of hajj fund through optimizing gold investment, the percentage of cost paid by pilgrims also plays an important role in supporting the sustainability of hajj fund. In this case, the the percentage of cost paid by pilgrims should be adjusted rationally. Total hajj cost is also a crucial aspect, especially in the main components such as flight costs, hotels and catering. The efficiency of these components can be strived by collaborating with airlines or aviation fuel providers, purchasing hotels/ apartments in Mecca and/or Medina, and establishing catering factories for Indonesian hajj pilgrims. The initiation of these investment can be explored conjointly with the Ministry of Religion as the organizer of Indonesian Hajj pilgrimage
Determining Factors that Influence The Profits of Sharia Life Insurance Companies Registered with The Financial Services Authority for The 2018-2022 Period
Get PDFBackground: The Islamic finance industry in Indonesia, especially the Islamic insurance industry, is experiencing rapid growth. In accordance with the development of Indonesia\u27s sharia finance reported in 2022, the total sharia insurance assets in 2022 were recorded at 45,025 trillion, of which the largest total assets were sourced from sharia life insurance worth 34,891 trillion. Thus, it can be said that sharia general insurance and reinsurance companies. However, the net profit of sharia life insurance has actually decreased in several years.
Objectives: This research aims to examine the effect of premium growth ratio, investment returns, underwriting results, risk based capital, and liquidity on the profits of Sharia Life Insurance companies registered with the Financial Services Authority (OJK) for the 2018-2022 period.
Novelty: With the existence of research gaps in previous studies, the authors feel the need to conduct this study as a form of re-examining related independent variables, considering the inconsistent results of previous studies.
Research Methodology / Design: Sample selection used a purposive sampling method which resulted in a sample of 21 Sharia Life Insurance companies with a total of 105 financial report data. This type of research is quantitative research. Data collection was carried out through secondary data, namely the company\u27s annual report. The analytical method used in this research is panel data regression analysis which is measured using STATA 17 software. The best analysis model chosen in the research is the fixed effect mode.
Findings: The research results show that the variables of investment returns and underwriting results have a positive and significant effect on company profits. Meanwhile, the liquidity variable has a negative and significant effect on company profits. Then, the premium growth ratio and risk based capital variables have no effect on company profits.
Implication:. It is necessary to add samples and develop them, not only using sharia life insurance companies, but can take examples of sharia general insurance or sharia reinsurance. Further research may also add more variables that could potentially affect profits. The short research deadline, only five years, indicates the need for further research with a wider time span to obtain more precise and accurate results. In addition, further development of this theory is needed to strengthen the research finding
Shariah Governance Practice on Indonesian Islamic Banks
Get PDFResearch Aims: This study aims to assess the implementation of Shariah governance in Indonesian Islamic banks.
Methodology: This study utilises a qualitative approach coupled with content analysis; this study evaluates the alignment of Sharia Supervisory Board (SSB) practices with relevant regulations.
Research Findings: The analysis revealed that none of the Islamic banks breached regulations or deviated from the prescribed criteria in the Sharia Supervisory Board (SSB) recruitment or characteristics.
Theoretical Contribution: This study is poised to enrich the diversity of backgrounds within the Sharia Supervisory Board (SSB), aiming to elevate its overall quality.
Research limitation and implication: This study exclusively examines the framework of Sharia governance within the context of Indonesia, and therefore, the findings should be separate from diverse country contexts
Empowering Muslim Women-Owned Small and Medium-Scale Enterprises through Women Cooperative
Get PDFThis research aims to examine the influence of empowerment, business assistance, and entrepreneurial knowledge on business growth and household welfare in Small, and Medium Enterprises owned by Muslim women. The method used is partial least squares structural equation modeling with a sample of 254 Muslim women-owned SMEs who are members of the women\u27s cooperative. The research findings indicate that empowerment and entrepreneurial knowledge play crucial roles as mechanisms for the business growth of Muslim women entrepreneurs and household welfare. Furthermore, the results also suggest that business assistance does not have a significant influence on the business growth of women Muslim entrepreneurs. Overall, the practical implications of these findings underscore the need for the development of more holistic empowerment programs that not only focus on business growth but also consider household welfar
How does equity financing impact non-performing financing? Evidence from Indonesia
Get PDFThis study aims to investigate the impact of equity financing on non-performing financing (NPF) in Islamic commercial banks in Indonesia. To address this issue, we conducted a panel data regression analysis on 12 Islamic commercial banks in Indonesia from 2010 to 2022. The finding of this study suggests that an increase in equity financing is associated with a lower NPF ratio of Islamic banks. While it is theoretically argued that Islamic banks’ equity financing may be associated with higher risk, our empirical evidence indicates the opposite, suggesting an improved risk profile. Indonesia presents a favorable environment for the application of equity financing for Islamic banks because large Islamic banks in Indonesia are often government-owned, which can lead to“safe” loan portfolios and strong loan repayment. Indonesia is also considered a religious country, creating a suitable environment for mudarabah and musharakah financing. Our findings suggest that Islamic banks in Indonesia should consider offering more equity financing, particularly for low-risk projects, such as those initiated by the governments
Literasi Keuangan Digital: Investasi Saham Berbasis Syariah
Get PDFPerkembangan investasi dan pasar saham di Indonesia semakin pesat. Salah satu aspek yang menonjol adalah pertumbuhan yang signifikan dalam investasi saham syariah. Selain melihat perkembangan saham syariah itu sendiri, penting juga untuk memahami tingkat pemahaman masyarakat Indonesia mengenai jenis investasi ini. Oleh karena itu, peneliti bertujuan untuk melakukan penelitian yang mengkaji lebih lanjut mengenai investasi saham yang berbasis syariah. Adapun metode penelitian yang digunakan adalah metode penelitian kualitatif dengan menggunakan penelitian studi literatur kajian yang dilakukan dengan memakai literature jurnal, buku, hasil penelitian terdahulu dan menggunakan metode poster comment yang berhubungan dengan investasi syariah. Hasil penelitian ini bertujuan untuk memberikan pemahaman dan pemaparan yang detail mengenai investasi saham syariah.
Financial Technology Innovation in Modernizing Zakat Payment in the Digital Era
Get PDFResearch Aims: To explore how the use of fintech in zakat payment is viewed from both Islamic jurisprudential and historical perspectives.
Methodology: Library research is used as the primary data collection method.
Research Findings: The research concludes that the use of financial technology for zakat payments is an innovative and flexible solution grounded in ijtihad (independent legal reasoning) within Islamic jurisprudence and The use of fintech in zakat payment is a form of technology fiqh (Islamic jurisprudence related to technology) that provides functional benefits in the context of zakat.
Theoretical Contribution: Research finding the discourse on Islamic jurisprudence by highlighting how financial technology can be integrated into zakat payment systems, offering a new approach to Islamic financial practices.
Research limitation and implication: The use of fintech can significantly streamline zakat payments, making the process more accessible and efficient for Muslims in Indonesia