Shirkah: Journal of Economics and Business
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Halal Product Guarantee in Indonesia: Regulation and Social Inclusion
No full textHalal Product Guarantee Act exists to ensure the protection of halal products consumed by Muslim consumers. Since it contains rules that only lead to protecting certain segments of society (Muslim consumers), this rule has become controversial. It is alleged to be potentially discriminatory. An argumentative and critical study shows that this is not factual. Apart from being legally tested, the social facts show that the regulation can be a means for the process of social inclusion: a process where people can respect each other’s communal rights, within the framework of authentic legal togetherness. The method employed is the analysis of legislation in a sociological perspective (sociological jurisprudence). The results of this study are through a series of juridical and sociological examinations, the Halal Product Guarantee Act can qualify as an integrative factor (social inclusion), in doing so it is expected to be an instrument of protecting people's rights (Muslim consumers' rights to get guaranteed halal products). Keywords: social inclusion, regulation, halal product guarantee, consumer protection
Integrated Marketing and Customers’ Decision Saving Funds in Islamic Banks
No full textIndonesia has a good market potential for Islamic banking business development. However, the market share of Islamic banks is still far behind the conventional ones. Over 5 years, Islamic marketing mix has been integrated with the contemporary marketing mix. This article prudently examines the decision of society to invest their funds in Islamic banks dealing with the integrated marketing mix. Questionnaires had been distributed to 150 respondents of Islamic banks customers. Using analysis of Structural Equation Modeling based on variance (SEM-PLS), this article shows that the integrated marketing mix has taken an influence on customer purchasing decisions, consisting of pragmatism and product, pertinence and promotion, persistence and process. Keywords: SEM-PLS, Islamic banking, integrated marketingÂ
Macroprudential Policy on Sharia Banking Financing: The Indonesian Experience
No full textThe locus of macroprudential policy persuading banks has recently attracted significant attention for such research. Whether and to what extent macroprudential policies established by Bank Indonesia against sharia banks have not researched yet in previous empirical studies. Gathering data during 2008-2016, this article examines the impact of macroprudential policy on credit risk-taking by sharia banks in Indonesia. This research approach uses dynamic panel data analysis technique to investigate the relationship between risk-taking of sharia bank credit and macroprudential policy for a bank in Indonesia good sharia banking. This research shows that there is the influence of Bank Indonesia's macroprudential policy toward murabaha financing in Indonesia.  Keywords: macroprudential policy, credit risk, sharia ban
Muslim Business Women in Indonesia
No full textThis study examines the intersection between religion and economic performance through investigating religious ethics and tradition among devout businesswomen. This study also focuses on the issue of spiritual business enterprise. I observed seven Muslim business women as subjects who negotiate a religious and cultural perception of their gendered role in society. During their entrepreneurial journey, Muslim business women transform their conventional company into spiritual – based operations for religious and ethical reason. I undertook nine weeks of fieldwork in urban areas of Jakarta, Purworejo and Yogyakarta. I also conduct life story interview sessions and participatory observation with the seven Muslim business women’s project of business including director, manager, employee, and so – called spiritual division. Significantly, the products that they sell reflect spiritual and moral underpinnings. Moreover, the spiritual design of company plays a role in employee screening, training, and benefit, which all incorporate aspects of Islamic practice. This research demonstrates the strong role of religion namely Islam, as evidenced in the Muslim business women’s narratives, in functioning as a support system that can greatly enhance the economic and life prosperity. Keywords: Muslim business women, religious ethics, spiritual economics, Indonesi
Muslim Businessmen and Chinese Economics in Singkawang
No full textInstead of being known as the “City of Tasbihâ€, nowadays Singkawang is either known as the “City of Amoy (Chinese girls)†or the “City of Thousand ChineseTemplesâ€. Cap Go Meh annually International Festival is another evidence of Chinese image making towards the city. This indicates a sort of Chinese domination that must be studied, economically, politically, and socially. Furthermore, the research aims to explore the dynamics of Chinese Counterpart especially the Muslim Business elites' challenge such as ironic the ongoing dominating development. To explore the dynamics, in-depth interviews were held. Key figures among Muslim businessmen, Chinese elites, government officials, even laypeople were questioned in order to obtain a clear description and balanced analysis of possible biases and perspectives of the interviewees. Quantitative data are analyzed and discussed. In short, the research’s findings are: The desire of an Islamic Singkawang is still intact, driven mainly by Muslim businessmen, in order to defend the existence and of Muslim in face of their powerlessness amidst the domination of Chinese elites.Keywords: Muslim; businessmen, Chinese, economics, domination, Singkawan
Indonesia Islamic Bank Profitability 2010-2017
No full textThis study proposes to determine the board management structure, bad debt, and efficiency of the profitability of the Islamic banks during 2007-2017 period. The quantitative data has been analyzed by using multiple regression analysis to determine the effect of independent variables on the variable dependent. Furthermore, the statistic tools used in the data process is Stata version 13. This study shows that the board of directors of the parent bank has a negative and significant influence on profitability. The problem financing has a negative and significant effect on profitability. Likewise, the ratio of operational costs also has a negative and significant effect on profitability. Thus, the existence of a parent bank's board of management to improve the performance of Islamic banks needs to be considered because it has not been able to provide an optimal contribution. In addition, the significant amount of financing quality and the use of inefficient operational costs have been a problem of improving profits from Islamic banks. Keywords: parent bank, bad debt, efficiency, profitability, Islamic bank
Alumni Networks and Economic Reinforcement in Pesantren Ummussabri
No full textThis study discusses the alumni network supporting the economic development of an Islamic institution, namely pesantren. In general, the strong alumni networks lead to strengthening the successful economic sector in the pesantren, since the alumni have a sense of belonging to pesantren. This study focuses on how alumni network contributes significantly to the development of business units in Pesantren Ummussabri, Kendari. Doing participatory observation and in-depth interviews, the study had been conducted in Pesantren Ummusabri, particularly in Empang 99 Paleppo unit. Such information had been gathered from the administrator for pesantren’s business division, alumni coordinator and some informants of Empang 99 Paleppo business unit. This study elucidates that a strong pesantren alumni network can improve the pesantren creatively. It clearly can be seen from how the alumni, who have successfully occupied important positions in the government, have established Empang 99 Paleppo. Keywords: alumni network, pesantren, creative economics, Kendari    Â
Santripreneurship and Local Wisdom: Economic Creative of Pesantren Miftahul Ulum
No full textMadura is well-known as an island which has been identical to the values of religion. One of the values is the important role of religious institutions, such as pesantren. The role of pesantren as a traditional Islamic institution is not limited to religious areas only, but to other social aspects only, including in economic development. This study examines the economic development of pesantren through analyzing santripreneur based on local wisdom in Pamekasan, Madura, East Java, Indonesia. This study outlines descriptive-narrative explanations regarding the value of Madurese local wisdom, and creative economic santripreneur activities in the pesantren, such as batik crafts, pesantren supermarket, and sharia-based pesantren (ikhtisab) as an economic development strategy in the pesantren of Miftahul Ulum, Pamekasan. Moreover, it offers the idea of pesantren economic development in Madura, especially in the context of strengthening the economic independency and sustainability. Keywords: Madura, santri, entrepreneurship, local wisdom Â
Laws of Collateral in Today's World in Islamic Perspective
No full textTaking from Pakistan State Bank case, this article initially elaborates and critically discusses collateral (in conventional term) and Islamic collateral (rahn). In conventional banking, collateral traditionally refers to secured lending (also known as asset-based lending). Since possession is pre-requisite for binding of the contract, the charge can be registered in this regard to the regulating authority. Third party charge registration in this regard will not be entertained until the debtor scrutinizes it with registration. We argue that it is allowed for a creditor to take one asset as collateral from two debtors and this asset will be considered from both debtors as rahn. Since one single asset is considered from both debtors, the creditor may hold the asset until his whole debt would be paid off. Although this research happens in Pakistan, the case of collateral and rahn can be academic precedence in Islamic global world.  Keywords: collateral, rahn, Pakistan state-bankin
Lombok as An Indonesian Halal Travel Destination
No full textThis study examines Lombok, as an Indonesian halal travel destination, through Global Muslim Travel Index (GMTI) analysis. GMTI requires four main indicators of assessing a halal destination, namely access, communication, environment and service. This study finds that Lombok is a promising island to be a halal travel destination, even it will be the best halal tourism place in Indonesia. However, the development of this destination should put in priority. The local government should take part in translating the halal destination concept to the grassroot level of tourism industry, whether in terms of tradition, culture, environment and other main indicators. Â Â Â Â Keywords: Lombok, halal tourism, travel destination, GMTIÂ