AL-MUZARA'AH
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The Determinants of Credit Risk Under Dual Banking System: Indonesian Experience Based on Bank Specific Variables
Full text linkIn Indonesian banking system, conventional banks are operating side by side with Islamic banking in a dual banking system. In terms of the credit risk determinants, Islamic banks should be affected by the different factors as conventional banks. However, the similarity of Islamic banks and the conventional bank in terms of contracts might lead to the opinion the same variables are affecting the performance of Islamic and conventional banks. The objective of the study is to examine and obtain an understanding on how the credit and financing in Indonesian dual banking system responses to changes in bank-specific variables. The main approach to fit the model used in this study is the dynamic panel data. Based on the result of the combined model, there are some independent variables that significantly affect credit risk. Profitability significantly affects credit risk with a negative relationship. While size significantly affects credit risk with a positive relationship. When it comes to the dummy variable, it can be said that the type of bank doesn’t play a significant role in determining the credit risk. In other word, there is no difference between Islamic bank and conventional banks in terms of credit risk. To analyze the crisis effect deeper, we compare the result of conventional banking model 2016-2020 and Islamic banking model 2016-2020. There is no independent variable that significantly affect the credit risk in the conventional banking model 2016-2020, three out of four independent variables affect credit risk significantly in the Islamic banking model 2016-2020. This is because conventional banks tend to play safe by avoiding the disbursement of credit and focusing on derivatives. However, this strategy is not suitable for Islamic banking as they are not allowed to do speculative activities. Islamic banking are still focusing on traditional banking activity
Evaluasi Program Pemberdayaan Usaha Mikro Kecil dan Menengah (UMKM) LAZISMU Magetan dengan Pendekatan Diagram Kartesius
Full text linkThis study aimed to determine the effect of zakat empowerment with MSMEs on the economic people empowerment according to the mustahik perceptions. This research used descriptive analysis with Cartesian coordinate approach. The results showed that the quality of LAZISMU in the MSMEs empowerment program in each dimension of tangible, reliability, responsiveness, assurance, and empathy was almost entirely good quality. The tangible dimension can be shown through the ease of procedures for submitting assistance and the period of its realization. The suitability between everything described by the officer with the reality on the reliable dimension is the main priority factor. The politeness, friendliness and communication skill of officers in the empathy dimension are factors that must be maintained. While transparency in providing information on survey results on the assurance dimension is a low priority factor. The monitoring on the impact of empowerment on the responsiveness dimension and the strategic location of the LAZISMU office on the tangible dimension was considered excessive. There is an effect of zakat empowerment with MSMEs on increasing the people\u27s economic income in terms of service quality according to the perceptions of mustahik. This research suggests LAZISMU Magetan for accelerates the realization of assistance proposals and the ease in applying for assistance
Strategi Pengembangan Pemasaran Sukuk Wakaf Ritel Indonesia
Full text linkWaqf is an Islamic social financial instrument that plays an important role in development. In order to play an optimal role, waqf needs to be managed productively, including through the Retail Cash Waqf Linked Sukuk (CWLS) or Retail Sukuk Waqf, which is an innovation in developing cash waqf through placement on Government Islamic Securities. The presence of this program opens opportunities for safe, productive, optimal and rewarding cash waqf investment. However, the very low marketing results of Retail Sukuk Waqf compared to other retail Sukuk types indicate that there are problems in the marketing of this instrument. This study aims to proposed strategy for developing retail Sukuk Waqf marketing through an analysis of the strengths, weaknesses, opportunities and challenges of Retail Sukuk Waqf. The proposed strategy is to improve the marketing system by changing the sales scheme from offline to online, increasing the number of MIDIS, determining the appropriate issuance timing, increasing socialization and promotion, offering reasonable returns, and making variation tenor of Retail Sukuk Waqf to the shorter one. In addition, it also needs to be supported by efforts to increase transparency and accountability of nazhir to enhance the convenience of the community in making cash waqf
Faktor yang Memengaruhi Minat Muzaki dalam Membayar Zakat Melalui Kitabisa.com: Pendekatan Technology Acceptance Model dan Theory of Planned Behavior
Full text linkThis study aims to examine the factors that influence muzaki\u27s interest in paying zakat through Kitabisa.com with the Technology Acceptance Model and Theory of Planned Behavior approaches. In addition, this study analyzes the relationship pattern of the perceived usefulness, ease of use, attitudes, subjective norms, and behavioral control towards muzaki’s interest. The method used in this study is a quantitative method using Structural Equation Modeling (SEM). The analytical tool used is the SmartPLS version 3 software. The data collection technique was through distributing questionnaires with a total sample of 180 respondents. The results showed that muzaki’s interest in paying zakat through Kitabisa.com was influenced by perceptions of ease of use, attitudes, subjective norms, and perceptions of behavior control. This study proves that perceived ease of use has a significant effect on perceived usefulness. Perceived usefulness and perceived ease of use have a significant effect on attitudes. Meanwhile, perceived usefulness has no significant effect on the interest in using Kitabisa.com digital zakat services. In addition, perceptions of ease of use, attitudes, subjective norms, and perceptions of behavioral control have a significant effect on the interest in using Kitabisa.com digital zakat services
Preferensi Publik terhadap Wakaf Uang di Sumatera Barat
Full text linkCash waqf can be a solution in optimizing the potential of land waqf asset in Indonesia, in order to reach economic empowerment. In Indonesia, cash waqf had a great potential reaching 180 trillion rupiah, however the money acquired on 2019 only reached 400 billion rupiah. Several factors caused the low rate of accumulation of cash waqf, namely religiousity, cash waqf literacy, waqf inclusion, and waqf institution management. This study aims to find out public preference toward cash waqf specifically in West Sumatera Province. The analytical method used is PLS-SEM qualitative analysis using SmartPLS 3.9.2 as a tool. Purposive sampling technique was used to assign 175 respondents. Results showed that there are positive and significant relationship between cash waqf literacy, waqf inclusion and waqf institution management variables with the public preference towards cash waqf. Whereas religiousity factor had positive but insignificant effect to the public preference of cash waqf
Analisis Strategi Keunggulan Kompetitif Berkelanjutan Perusahaan Crowd Business Syariah (Studi Kasus pada Halal Network International)
Full text linkBusiness model innovation of a company is a form of adaptation to the current economic turmoil to determine competitive advantage. To deal with this, PT HPA Indonesia or Halal Network International (HNI) which is based on the Muslim crowd and consistently is considered to be developing and getting the leading position must be able to survive in the middle of challenging market. The purpose of this research is to analyze the strategy of sustainable competitive advantage for HNI as sharia crowd business firm. The mixed method approach was carried out using literature studies, guided interviews, and online questionnaires for certain experts. The data processing technique used in this research is ANP (Analytical Network Process) to involve the analysis of the relationship between the network elements. The results of this research indicate that effective strategy is the right strategy for sustainable competitive performance. This strategy focuses on developing resource capital. The three elements with the lowest priority in this pride strategy model are reputation & quality control, technology & buyer fulfillment and sales of product content. By combining institutional capital and resource capital, a sustainable competitive advantage can be achieved by focusing performance on the subfactors of corporate image and leadership
Analisis Kualitas Laba Perbankan Syariah di Indonesia
Full text linkThe firms tend to perform earning management, mainly due to there was an agency problem amongst the management (agent) and the owner (principal), in more specifically because the lack of corporate governance, manager’s bonus plan, decreasing of supervision, debt-covenant, and economic-meltdown condition. The earning management practice is potentially done by any firms included the sharia bank. The earning management practice will affect the firm’s earnings quality as represented in the financial report. Despite the accounting treatment of mudharabah-musyarakah financing uses cash-basis, the sharia bank may manipulate the earnings when they determine the profit from the investments which will be shared to both the bank and investor. The study aims to investigate the differences of earnings quality and examine the effect of mudharabah-musyarakah financing and leverage to earnings quality, within Bank Umum Syariah (BUS) and Unit Usaha Syariah (UUS) during economic meltdown period in Indonesia between 2014-2016. The results show that there are no significant differences in the earnings quality within sharia bank types during the observed period. Furthermore, the results show that the effect of mudharabah-musyarakah financing and leverage to earnings quality within sharia bank types are in significant within the same observed period
Peer-to-Peer Lending Syariah dan Dampaknya terhadap Kinerja serta Kesejahteraan Pelaku Usaha Mikro dan Kecil (UMK) pada Masa Pandemi Covid-19
Full text linkPeer-to-Peer (P2P) lending is one of the mechanisms to overcome capital problems for the MSE sector, especially during the Covid-19 pandemic. P2P lending has the highest asset growth compared to other financial technology (fintech) schemes and mostly preferred by the majority of population. As a country with a majority Muslim population, people prefer to use sharia P2P lending, but its role has not been widely documented in the literature. MSEs are business enterprises that contribute greatly to the national gross domestic product (GDP) and absorb the most labor. This study aims to analyze the effect of sharia (P2P) lending on the performance and welfare of MSEs during the Covid-19 pandemic. The method of analysis consists of paired t-test, OLS and logistic regression analysis. Paired t-test results show that there are differences in turnover, profits, operating costs, and the number of MSE workers before and after receiving financing. OLS analysis shows that the amount of financing, business costs, labor, and length of business affect changes in MSE turnover. The results of the logistic regression analysis show that the average family income and the amount of savings significantly affect the welfare of MSE actors
Faktor yang Memengaruhi Kemandirian Ekonomi Pesantren (Studi Pesantren Al-Ittifaq Bandung)
Full text linkIslamic boarding school has the potential to develop the Islamic economy through the Islamic boarding school business unit. Optimizing business units can create Islamic boarding school economic independence. Even so, the fact is that there are still many Islamic boarding school that have not utilized their potential. One of the Islamic boarding school that has succeeded in achieving economic independence through business units is the Al-Ittifaq Boarding School in Bandung. The aim of this research is to analyze economic activities and factors that influence the economic independence of the Al-Ittifaq Islamic Boarding School. Using Analytical Network Process (ANP), the factors that influence the economic independence of the Al-Ittifaq Islamic Boarding School are divided into four aspects, namely institutional, production, stakeholder, and market aspects. The results show that market aspect has the biggest impact affecting the economic independence in Al-Ittifaq Islamic Boarding School and the four most influential factors are the kiai leadership and management, production information systems, capital, and market availability
Analisis Efisiensi pada Pra dan Pasca Initial Public Offering (IPO) Panin Dubai Syariah Bank
Full text linkPanin Dubai Syariah Bank (PDSB) conducted an initial public offering (IPO) in January 2014 and was also registered as the first Islamic bank (IB) to conduct an IPO. With an IPO, PDSB is required to provide information disclosure and increase the company\u27s competitive advantage. This study aims to determine 1) financial performance pre and post implementation of the PDSB IPO; 2) the efficiency of the pre and post implementation of the PDSB IPO compared to the IB BUKU 2. The study used a quantitative descriptive approach. The type of data used is secondary data in the form of annual report IB BUKU 2 2010-2017 and IB publication reports. Data were analyzed using the Data Envelopment Analysis (DEA) model to measure efficiency as a concept for evaluating PDSB performance. The results showed (1) CAR pre IPO better than post IPO. BOPO, NPF and FDR there are no significant differences between pre IPO and post IPO (2) PDSB efficiency scores in 2010-2017 are always more efficient when compared to IB BUKU 2. There are significant differences in the parameters of technical efficiency, pure technical efficiency, and scale efficiency on pre-IPO, while post-IPO significant differences only in the efficiency of technical efficiency and scale efficiency