Perkembangan Pasaran Modal Islam dalam Pembangunan Ekonomi Negara

2012 ◽  
Author(s):  
Hussin Salamon
Keyword(s):  
Economic System ◽  
Key Words ◽  
Capital Market ◽  
Islamic Banking ◽  
Conventional System ◽  
Alternative System ◽  
Islamic Economic ◽  
Islamic Insurance ◽  
Muslim Scholars

Selepas keruntuhan Sistem Ekonomi Sosialisme, kemunculan Sistem Ekonomi Islam semakin bersemarak dan diiktiraf oleh cendekiawan Islam dan bukan Islam. Institusi Perbankan Islam, Insurans Islam dan Pajak Gadai Islam (al–Rahnu) sudah tidak asing lagi. Satu bidang penting untuk pelaburan ialah Pasaran Modal Islam yang telah mula diperkenalkan sejak hampir dua dekad yang lalu namun masih belum dieksploitasi semaksimum mungkin. Dengan beberapa ciri dan pelbagai kelebihan yang terdapat dalam sistem ekonomi Islam secara umum dan Pasaran Modal Islam secara khusus berbanding dengan pasaran modal yang sedia ada, sudah seharusnya Pasaran Modal Islam mampu untuk menjadi alternatif terbaik kepada pengumpulan dana yang besar bagi kemajuan dan pembangunan ekonomi negara. Kata kunci: Ekonomi Islam; Pasaran Modal Islam After the demise of the Socialists Economic System, the emergence of Islamic Economic System become immense and appreciated by both Muslim as well as Non–Muslim scholars. Institutions of Islamic Banking, Islamic Insurance and Islamic Pawn Shop (al–Rahnu) are well accepted. One important subject in investment is on the aspect of Islamic Capital Market. Although it has been launced since the last 2 decades, the advantages of Islamic Capital Market is not being fully utilised. With a few distinguished characteristics embodied in the Islamic system as compared to the present conventional system, Islamic Capital Market should be attractive enough to act as an alternative system in accumulating capital towards the country’s economics development. Key words: Islamic Economics; Islamic Capital Market

scholarly journals KONSEP MANAJEMEN AMANAH: Kajian Teoritik terbadap Sistem Finansial Perbankan Islam

2018 ◽  
Vol 2 (1) ◽  
pp. 46
Author(s):  
Eko Suprayitno
Keyword(s):  
Economic System ◽  
Corporate Culture ◽  
Trust Management ◽  
Careful Consideration ◽  
Promising Alternative ◽  
Economic Problems ◽  
Whole Process ◽  
Alternative System ◽  
Islamic Economic

<p>The Islamic economic system is a promising alternative system and therefore worthy of careful consideration. However, not a few also question whether it is true Islamic economic system is a promising alternative, especially efforts to solve the economic problems of this very crowded nation, although at this time have started many who apply this sharia economic system in the banking world. The application of sharia ethics as a consequence of the company's goal of maximizing the grace of giving birth to what is called amanah management. The whole process in this management is always imbued by, and practiced with, sharia ethics to maximize grace. Therefore, emphasized by the trustful management is how to maximize the rahmat can be done. Therefore, the strategy to apply the trust management needs to be done so that the management trust becomes the corporate culture of the company.</p><p> </p><p>Sistem ekonomi Islam merupakan sebuah sistem alternatif yang menjanjikan dan oleh karenanya layak dipertimbangkan secara seksama. Namun demikian, tidak sedikit pula yang mempertanyakan, apakah benar sistem ekonomi Islam merupakan sebuah alternatif yang menjanjikan, khususnya upaya menyelesaikan masalah ekonomi bangsa yang sangat menyesakan ini, walaupun pada saaat ini sudah mulai banyak yang menerapkan sistem ekonomi syariah ini dalan dunia perbankan. Aplikasi etika syariah sebagai konsekuensi dari tujuan perusahaan yang memaksimalkan rahmat melahirkan apa yang disebut dengan manajemen amanah. Seluruh proses dalam manajemen ini selalu dijiwai oleh, dan dipraktikan dengan, etika syariah untuk memaksimalkan rahmat. Oleh karena itu, ditekankan oleh manajemen amanah adalah bagaimana memaksimalkan rahrnat dapat dilakukan. Untuk itu strategi untuk mengaplikasikan manajemen amanah perlu dilakukan agar manajemen amanah menjadi corporate culture dari perusahaan.</p><p> </p><p> </p>

General Economics and Teaching: What Is Wrong with Islamic Economics? Analysing the Present State and Future Agenda

2013 ◽  
Vol 51 (4) ◽  
pp. 1183-1185 ◽  
Author(s):  
Mahmoud El-Gamal
Keyword(s):  
Present State ◽  
State Of The Art ◽  
Chief Resident ◽  
Islamic Banking ◽  
Orthodox Interpretation ◽  
Banking And Finance ◽  
Auditor General ◽  
Islamic Economic ◽  
Peacekeeping Missions ◽  
Islamic Insurance

Mahmoud El-Gamal of Rice University reviews, “What Is Wrong with Islamic Economics? Analysing the Present State and Future Agenda” by Muhammad Akram Khan. The Econlit abstract of this book begins: “Explores the state of the art in Islamic economics and finance, analyzes reasons for perceived stagnation, and considers a way forward. Discusses Islamic economics—state of the art; the “why” of Islamic economics; what is Islamic economics?; methodology of Islamic economics; the move from Islamic theology to Islamic economics; expanding the frontiers of economics; an Islamic economic system or spiritual capitalism?; elimination of interest—from divine prohibition to human interpretation; prohibition of riba in the primary sources of Islam; the theory of riba—the orthodox interpretation; assessment of the orthodox interpretation; modernist thinking on riba; prohibition of riba—the continuing debate; unresolved issues in the orthodox interpretation of riba; practice of interest-based finance among Muslims; prohibition of riba—the way forward; the theoretical basis of Islamic banking; problems of profit–loss sharing; practice of Islamic banking and finance; a trajectory of legal tricks—hiyal; Islamic insurance takaful; and contemporary application of the law of zakah. Khan is former Deputy Auditor General of Pakistan and Chief Resident Auditor of United Nations Peacekeeping Missions.”

scholarly journals PEMBERDAYAAN EKONOMI KREATIF BERBASIS SYARIAH PADA MAJELIS TAKLIM

2020 ◽  
pp. 64-78
Author(s):  
Khadijah Khadijah
Keyword(s):  
Economic System ◽  
Government Policies ◽  
Islamic Banking ◽  
Significant Progress ◽  
The Poor ◽  
Economic Trends ◽  
The Law ◽  
The Rich ◽  
The Republic ◽  
Islamic Economic

Abstract. Sharia-based economic trends (islamic economics) continue to experience significant progress along with government policies that continue to strive so that the sharia economy can be applied in various aspects of life, including to move the progress of the majelis taklim. Sharia-based economy builds justice because the rich must provide assistance to the poor so that the poor become empowered one of the principles of sharia economic lending without interest. There are at least more than 20 types of regulations concerning the Islamic economic system in Indonesia include the Law of the Republic of lndonesia No. 19, 2008 Regarding State Sharia Securities, and the Law of the Republic of lndonesia No. 21, 2008 about Islamic Banking. Abstrak. Trend ekonomi Islam (ekonomi syariah) terus mengalami kemajuan yang signifikan seiring dengan kebijakan pemerintah yang terus mengupayakan agar ekonomi tersebut dapat diterapkan di berbagai segi kehidupan, termasuk di dalamnya untuk menggerakan  kemajuan Majelis Taklim (MT). Keberadaan MT telah memiliki aturan resmi pemerintah berdasarkan Undang Undang Sistem Pendidikan Nasional (UU Sisdiknas) Nomor: 20 tahun 2003 dan Peraturan Pemerintah (PP). 55 tahun 2007 serta Peraturan Menteri Agama (PMA) No. 29 tahun 2019. Jumlah riil MT di Indonesia diyakini mencapai ratusan ribu tempat mengingat di setiap ada komunitas muslim di situ muncul kegiatan MT. Mereka memerlukan sosialisasi tentang ekonomi syariah sekaligus memberdayakan mereka dengan program yang menggerakan ekonomi kreatif. Pelaksanaan ekonomi syariah mengacu kepada Undang-Undang No. 19 Th. 2008 tentang Surat Berharga Syariah Negara, Undang-Undang Rl No. 21 Tahun 2008 dan Perbankan Syariah setidaknya berjumlah 23 aturan.

scholarly journals THE CHALLENGES OF ISLAMIC ECONOMIC LAW IN THE INDUSTRIAL REVOLUTION

JURISDICTIE ◽  
2020 ◽  
Vol 11 (1) ◽  
pp. 125
Author(s):  
Supardin Supardin
Keyword(s):  
Economic Development ◽  
Economic System ◽  
Public Interest ◽  
Industrial Revolution ◽  
Rapid Development ◽  
Development Strategies ◽  
Islamic Banking ◽  
Economic Sector ◽  
Economic Law ◽  
Islamic Economic

<p>This paper explains the challenges of Islamic Economic Law (fiqh muamalah) in the industrial revolution 4.0 era. It aims to analyze the role and implementation of Islamic Economic Law in Indonesia. This is a library-based study. The findings show that there is a rapid development in economic sector that shapes the practice of Islamic Economic Law. Despite the rapid global economic development and the increasing public interest towards the Islamic banking and economy, the Islamic economic Law is facing major problems and challenges. Because of these challenges, the development of the Islamic economic system in Indonesia, in the future, must take further steps or development strategies to implement the Islamic economic system more optimally, such as adaptation to global needs and high competitiveness.</p><p>Tulisan ini menjelaskan tentang realitas fiqh muamalah di era revolusi industri 4.0. Tujuannya adalah untuk melihat peran dan implementasi fiqh muamalah terhadap kegiatan ekonomi Islam, terutama di Indonesia yang mayoritas penduduknya adalah Muslim. Jenis penelitian yang digunakan adalah penelitian normatif dengan pendekatan penelitian kepustakaan. Penelitian ini dikategorikan sebagai tipe analitik deskriptif, yang mencoba untuk menggambarkan dan memberikan analisis yang komprehensif tentang pengembangan fiqh muamalah di era modern ini, yang biasa disebut sebagai revolusi industri 4.0. Hasil penelitian ini menunjukkan bahwa ada perkembangan pesat yang terjadi di sektor ekonomi. Namun terlepas dari perkembangan ekonomi global yang cepat dan meningkatnya minat publik terhadap perbankan dan ekonomi Islam, Fiqh Muamalah menghadapi masalah dan tantangan besar. Karena tantangan ini, pengembangan sistem ekonomi Islam di Indonesia, di masa depan, harus mengambil langkah dan strategi pengembangan untuk mengimplementasikan sistem ekonomi Islam secara lebih optimal, seperti adaptasi terhadap kebutuhan global dan daya saing yang tinggi.</p><p> </p>

scholarly journals THE INTERPLAY BETWEEN THE GLOBAL ISLAMIC FINANCE AND ECONOMIC GROWTH OF MUSLIM COUNTRIES

2021 ◽  
Vol 3 (38) ◽  
pp. 231-239
Author(s):  
A. Batorshyna ◽  
V. Tokar ◽  
L. Kolinets ◽  
L. Sybyrka ◽  
O. Almarashdi
Keyword(s):  
Economic Growth ◽  
Saudi Arabia ◽  
Capital Market ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Financial Industry ◽  
Muslim Countries ◽  
Current Trends ◽  
Islamic Insurance ◽  
The Impact

Abstract. The article discloses development peculiarities of the global Islamic financial industry and determines its interplay with the economic growth of Muslim countries. The aim of the article is to reveal current trends in key segments of the global Islamic finance market (Islamic banking, capital market and Iinsurance) and analyze the impact of each of them on the economic growth of the countries, which are most developed in the field of Islamic finance. The countries surveyed were selected according to the Islamic Finance Development Indicator (IFDI), which reflects the general state of the Islamic financial industry worldwide and in each country. IFDI is based on five indicators: quantitative development (QD), knowledge, governance, corporate social responsibility (CSR) and awareness. In 2019, the United Arab Emirates (UAE), Bahrain, Indonesia, Malaysia and Saudi Arabia were the most developed countries in terms of Islamic finance. Examining the impact of different types of Islamic financial assets on the GDP of these Muslim countries, we used Eviews10 to conduct a regression analysis, which showed a positive relationship between GDP and only two types of assets, namely bank and Islamic bonds (sukuk). associated with significant volumes of these segments of the global Islamic financial market and the tradition of investing in key sectors of the economy. We discovered the negative relationship between GDP and Islamic insurance (Takaful) in all countries studied, which can be explained by ineffective investment strategies of Islamic insurance companies, which suffer from low profitability and are unable to increase their assets in line with current trends in innovation and development.  We also found the inverse relationship between Islamic funds and GDPs of the UAE, Malaysia and Saudi Arabia, which may be related to the distribution of financial resources from these countries to other parts of the world and investment cycles, including the waiting period before repatriation of profits and interest; the concentration of funds in major markets makes it impossible to scale their activities in the global market. Keywords: Global islamic finance, Islamic banking, Islamic capital market, Sukuk, Islamic funds, Takaful, Economic growth. JEL Classification G15, O43, O53, Z12 Formulas: 1; fig.: 1; tabl.: 5; bibl.: 20.

scholarly journals The importance of providing Islamic finance services for non- Muslims in Europe

2018 ◽  
Vol 24 (102) ◽  
pp. 24
Author(s):  
Al Siddig Talha Mohammed Rahma
Keyword(s):  
Financial Institutions ◽  
Insurance Companies ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Islamic History ◽  
The World ◽  
Islamic Financial Institutions ◽  
Islamic Economic ◽  
Muslims In Europe ◽  
Islamic Insurance

Abstract              This paper follows the growing interest and continuity of Islamic finance products worldwide, which has encouraged the formulation of financial institutions based on the concepts of Islamic Sharia in many countries of the world and is no longer limited to Islamic countries only, and  Not exclusive to Muslims which is due to Islamic finance services and their ability to apply in non-Islamic societies, and perhaps what encouraged the development and progress of this industry Islamic history, which was attended by many different models With the development of trade's share between different countries as well as trips carried out by Muslims trade in the world and their role in the spread of Islam in Africa, Asia, Europe and so on.              The paper focuses on the need to direct and allocate Islamic funding to non-Muslims so as not to be exclusive to Muslims only and thus highlights the ability of Islamic economic services and its ability to expand its outreach, this will  help to activating many of the desired objectives and to clarify and reflect the Islamic principles of other societies, and thus achieve the universality of Islam and reduce the manifestations of hostility to Islam and Muslims in the world          The paper concludes that the spread of various Islamic financial institutions in European countries, including banks, Islamic insurance companies and Islamic sukuk, and the establishment of identical institutions in Europe all this confirms the ability of Islamic banking to spread in the world, Islamic banking has emerged as one of the fastest-growing industry sectors over recent years. Islamic Finance has now become a global phenomenon due in large part because it is perceived as less risky than the conventional finance – especially during crises.  

scholarly journals حكمة العمل المصرفي الإسلامي المبنيّ على نظام المشاركة

2010 ◽  
Vol 16 (62) ◽  
pp. 108-71
Author(s):  
مجدي علي غيث
Keyword(s):  
Economic System ◽  
Profit Margin ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Short Term ◽  
Financial Products ◽  
The Face ◽  
Islamic Economic

المصارفُ الإسلامية قادرةٌ على أن تحقق الحكمة من إنشائها وتحقيق أهداف النظام الاقتصادي؛ في الكفاءة والعدالة بوصفهما أساسَيْ العمل المصرفي الإسلامي. لكنَّ هذه المصارف ابتعدت عن الحكمة الأساسية للعمل المصرفي الإسلامي باعتمادها على هامش الربح المعلوم من خلال التمويلات قصيرة الأجل، ولم تستطع بذلك تحقيق الكفاءة والعدالة القائمة أصلاً على نظام المشاركة. وبرزت مواطن ضعف عديدة عانت منها المصارف الإسلامية، يمكن معالجتها. ومع ذلك فثمة مواطن قوة كامنة في المصرفية الإسلامية، مكنتها من الصمود في وجه الأزمات. Islamic banks should be able to achieve purposes of their establishment, i.e. building Islamic economic system, based on participation, and employs efficient financial products that would achieve efficacy and equity through certain mechanisms. Unfortunately Islamic banks moved away from those purposes by adopting assigned profit margin through short-term funding. Such problems can be addressed through certain suggested solutions. There are aspects of strength in Islamic banking as a result of their recognized roles of achieving considerable efficiency and justice, and resilience in the face of crises.

Readings in Islamic Economics and Finance

2007 ◽  
Keyword(s):  
Capital Market ◽  
Economic Thought ◽  
The Other ◽  
Islamic Banking ◽  
Economic Literature ◽  
Islamic Economic

Readings in Islamic Economics and Financeis a compilation of papers presented at the Seminar Ekonomi dan Kewangan Islam held at ESSET Bangi, Selangor, in August 2005. Although a good 56 papers were presented at the seminar, only a handful, which displayed originality, was selected. The book addressed issues in such areas as Islamic fiqh, Islamic banking and Islamic capital market. More specifically, this book begins with an introduction of fiqh concept. Part 11 deals with aspects of Islamic banking, Part 111 deals with Islamic capital market and Part 1V deals with the other important issues related to Islamic economics and finances. All the issues discussed in the books, although recently intensively addressed, are still not adequate in economic literature. This book is useful for students, academicians, development and finance specialists, and others who are interested in Islamic economic thought.

scholarly journals HUBUNGAN ANTARA LEMBAGA KEUANGAN SYARIAH DI INDONESIA PERIODE 2014-2018

2020 ◽  
Vol 7 (2) ◽  
pp. 345
Author(s):  
Maulidah Atha Mukhlifah ◽  
Sylva Alif Rusmita
Keyword(s):  
Financial Institutions ◽  
Life Insurance ◽  
Capital Market ◽  
Insurance Companies ◽  
Islamic Banking ◽  
Insurance Company ◽  
Process Data ◽  
Islamic Financial Institutions ◽  
Islamic Insurance ◽  
The Relationship

This study is to determine the relationship between Islamic financial institutions, both bank and non-bank financial institutions in Indonesia in the 2014-2018 period. This study uses the VAR method to process data. The results of this study are contributions from Islamic-based financial institutions in Indonesia. The Islamic capital market has a positive relationship with Islamic life insurance. This happens because, in developing countries like Indonesia, life insurance is more influential than Islamic general insurance. The relationship that occurs in the Islamic capital market and life insurance occurs because of the role of the insurance company that will buy shares in the Islamic capital market. Then, related to a negative relationship between Islamic banking and Islamic insurance. It is because every credit given by the bank will be charged for insurance. The greater the value of the credit, the higher the contribution paid. This will be considered by those who will take credit at the bank. Meanwhile, insurance companies themselves are not bound by two other financial institutions. This happens because insurance companies get capital from third parties or their customers.Keywords: Islamic Financial Institutions, Islamic Capital Markets, Islamic Banking, Islamic Insurance, VAR

Pemakaian Prinsip Hibah Dalam Sistem Kewangan Islam Di Malaysia: Tumpuan Kepada Industri Perbankan Islam Dan Takaful

2012 ◽  
Author(s):  
Nasrul Hisyam Nor Muhamad
Keyword(s):  
Key Words ◽  
Financial Institutions ◽  
Islamic Law ◽  
Financial System ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Islamic Financial Institutions ◽  
Support Principle ◽  
Islamic Insurance ◽  
Inter Vivos

Hibah merupakan salah satu prinsip dalam muamalah Islam yang diamalkan di institusi–institusi kewangan Islam di Malaysia. Tujuan artikel ini adalah untuk membincangkan pemakaian prinsip hibah dalam Sistem Kewangan Islam di Malaysia, iaitu institusi perbankan Islam dan takaful. Bagi memperolehi data primer mengenai aplikasi prinsip hibah di dua institusi kewangan Islam tersebut, penulis telah menjalankan temu bual dengan individu yang berautoriti di Bahagian Syariah Bank Negara Malaysia, Jabatan Pematuhan Syariah di Etiqa Takaful Bhd dan Takaful Ikhlas Sdn. Bhd. Penulis mendapati bahawa prinsip hibah, walaupun tidak dianggap sebagai prinsip utama, namun ia diaplikasikan sebagai prinsip sokongan dalam aktiviti–aktiviti muamalah Islam di Institusi Kewangan Islam di Malaysia. Kata kunci: Hibah; sistem kewangan Islam; muamalah Islam; perbankan Islam; takaful; undang–undang Islam Hibah (gift inter vivos) is one of the principles of Islamic transaction that are applied at Islamic Financial Institutions in Malaysia. The purpose of this article is to discuss the application of hibah in Islamic banking as well as the takaful. In the collection of data on the application of hibah at these Islamic institutions, the writer has conducted interviews with authoritative persons at the Shariah Division Bank Negara Malaysia, the Shariah Compliant Department at Etiqa Takaful Bhd and the Takaful Ikhlas Sdn. Bhd. The writer found that even though hibah is not considered as a core principle, but it is applied as a support principle in Islamic transaction activities in the institutions of Islamic Finance in Malaysia. Key words: Gift inter vivos; Islamic financial system; Islamic transaction; Islamic banking; Islamic insurance; Islamic law

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