scholarly journals TANTANGAN BANK SYARIAH DI ERA GLOBALISASI

2018 ◽  
Vol 1 (1) ◽  
pp. 79
Author(s):  
Wening Purbatin Palupi Soenjoto
Keyword(s):  
Economic Activity ◽  
Islamic Banking ◽  
Business Networks ◽  
Islamic Banks ◽  
Economic Competition ◽  
Negative Side ◽  
Positive Side ◽  
The World ◽  
Conventional Systems ◽  
Financial Transactions

Abstract: Since the decade of the 1970s Muslims in various countries have been trying to establish Islamic banks. The purpose of establishing these Islamic banks in general is to promote and develop applications of Islamic principles, sharia and their traditions into financial transactions, banking, and other related businesses. Globalization that occurs in various parts of the world, including Indonesia is no longer an issue but the reality that has now happened. Globalization is not a very frightening problem that tends to have a negative side but also has a positive side, namely the expansion of business networks during the challenges can be overcome by hard work and patience. With the globalization of economic competition between countries it is undeniable to become increasingly strict. Automatic in the world of banking will also experience competition between banks. Likewise with the presence of the Islamic system in every economic activity, it will certainly lead to competition between conventional systems with the sharia system. More detailed this article will discuss Islamic banks in the era of globalization, which includes the development of Islamic banking and the opportunities and constraints faced by Islamic banks in this era of globalization. الملخص: منذ عقد السبعينيات ، كان المسلمون في مختلف البلدان يحاولون تأسيس بنوك إسلامية. إن الهدف من إنشاء هذه البنوك الإسلامية بشكل عام هو تطبيق المبادئ الإسلامية وتقاليدها في المعاملات المالية والمصرفية وغيرها. إن العولمة التي تحدث في مختلف أنحاء العالم ، بما في ذلك إندونيسيا ، لم تعد قضية بل حقيقة واقعة قد حدثت الآن. العولمة ليست مشكلة مخيفة تميل إلى أن يكون لها جانب سلبي ولكن أيضا لها جانب إيجابي ، ألا وهو التوسع في شبكات الأعمال خلال تحدياتها التي يمكن التغلب عليها بالعمل الجاد والصبر. مع عولمة التنافس الاقتصادي بين الدول ، فسوف البنوك أيضا تجربة المنافسة. وبالمثل مع وجود النظام الإسلامي في كل نشاط اقتصادي ، فإنه سيؤدي بالتأكيد إلى التنافس بين الأنظمة التقليدية مع نظام الشريعة. وستناقش هذه المقالة بمزيد من التفصيل البنوك الإسلامية في عصر العولمة ، والتي تشمل تطوير المصرفية الإسلامية والفرص والقيود التي تواجهها البنوك الإسلامية في  هذا عصر العولمة. Abstrak: Sejak dekade tahun 1970-an  umat Islam di berbagai negara telah berusaha untuk mendirikan bank-bank syariah. Tujuan pendirian bank-bank syariah ini pada umumnya adalah untuk mempromosikan dan mengembangkan aplikasi dari prinsip-prinsip Islam, syariah dan tradisinya ke dalam transaksi keuangan, perbankan, dan bisnis-bisnis lain yang terkait. Globalisasi yang terjadi diberbagai belahan dunia, termasuk negara Indonesia bukanlah isu lagi tetapi kenyataan riil yang kini telah terjadi. Globalisasi bukanlah persoalan yang sangat menakutkan yang cenderung meimiliki sisi negatif saja melainnkan juga memilki sisi positif yaitu perluasan jaringan bisnis selama tantanganya dapat diatasi dengan kerja keras dan kesabaran. Dengan adanya globalisasi persaingan ekonomipun antar negara tidak dapat dipungkiri semakin ketat.  Otomatis di dunia perbankan pun juga akan mengalami persaingan antara  bank - bank. Begitu juga dengan hadirnya sistem syariah di setiap aktivitas ekonomi  tentunya akan menimbulkan persaingan antara sistem konvensional dengan sistem syariah. Lebih terperinci artikel ini akan membahas mengenai bank syariah di era globalisasi, yang mencakup perkembangan perbankan syariah serta peluang dan kendala yang dihadapi bank syariah di era globalisasi ini.

KONDISI EKONOMI SYARIAH DI INDONESIA PASCA MERGERNYA BANK SYARIAH BUMN

2021 ◽  
Vol 5 (1) ◽  
pp. 90-106
Author(s):  
Angga Syahputra
Keyword(s):  
Market Share ◽  
Financial Services ◽  
Qualitative Method ◽  
Economic Conditions ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Muslim Population ◽  
Banking Market ◽  
The World ◽  
Financial Transactions

Indonesia has the largest Muslim population in the world. With this amount, of course, it should be a capital for economic strength. However, as of November 2020, data released by the Financial Services Authority put the Islamic banking market share at 6.33%. Efforts to merge the three state-owned Sharia banks into Indonesian Sharia Banks are expected to increase the penetration of the sharia economy in Indonesia, which is still far behind when compared to conventional domestic economic movements and Islamic financial transactions in other countries. This research will describe the extent of the sharia economic conditions in Indonesia after the merger of state-owned sharia banks into BSI. This study uses a qualitative method with a type of literature review research which is obtained from various authentic sources such as books, articles, journals and trusted websites. There was a 2.7% increase in the market share of Islamic banks after the merger. This increase when compared to the existing potential and the market is still very small. However, it is hoped that this impact will continue to increase over time, especially as capital support for various financial sectors and the halal industry in the country.

اختلاف آراء الفقهاء حول تطبيق منتجات التورق المنظم، وبيع العينة، والدَّين في المصارف الإسلامية Differing views of Islamic jurists on the implementation of organized tawarruq products, bay‘ al-‘aynah, and credit by Islamic banks

2013 ◽  
Vol 9 (2) ◽  
pp. 1
Author(s):  
محمود بن محمد علي محمود (Al Mahmoud)
Keyword(s):  
Key Words ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Financial Transactions

تهدف هذه الدراسة إلى بيان الطريقة التي تُطبّق بها منتجات المصارف الإسلامية الماليزيّة، ومعالجة تلك التطبيقات التي أدّت إلى الخلاف بين فقهاء ماليزيا والمشرق الإسلامي. ووضّحت الدراسة محلّ الإختلافات الفقهيّة مُبيّنة أنَّ ما يُثار من مثل هذه الخلافات يتركّز في طريقة تطبيق بعض صور المسائل الإجتهاديّة التي أخذت بها الهيئات الشرعيّة في ماليزيا، وهذه الأساليب في طريقها للترشيد إلى الثواب. وقد اعتمد الباحث على المنهجين الأساسيين وهما: المنهج التحليلي النقدي، والمنهج المقارن بغية الوصول إلى النتائج المرجُوّة. وأخيرًا، قد تحفّظ الباحث على طريقة بعض الأساليب التي تُطبّق بها منتجات المعاملات الماليّة، مُوضّحةً آراء الفقهاء المعاصرين، وحُكم الشرع فيها، مما يلزم النظر فيها ومُراجعة تطبيقها لتنضبط بالضوابط الشرعية. الكلمات المفتاحية: آراء الفقهاء، التورق المنظم، بيع العينة، الدين، المصارف الإسلامية**************************This study aims to describe how Malaysian Islamic banking products are implemented and how some of these implementations lead to disagreement between the Islamic jurists of Malaysia and Islamic East. The study pointed out the areas of juristic differences indicating that these differences are rooted in the process of applying some forms of ijtihÉdÊ issues that are accepted by the Malaysian religious bodies and these methods are in the process of improvement towards accuracy. The researcher maintained reservation on some methods applied in the products of financial transactions; in doing so, the researcher explained the relevant views of contemporary jurists and Share‘ah rulings that require re-consideration and review of their applications in order to modulate them with Share‘ah regulations. The researcher has relied on two primary approaches: critical cum analytical and comparative. Key words: views of jurists, organized Tawarruq, Bay‘ al-‘Aynah, Credit, Islamic banks.

Design Analysis of CIMB Bank’s Website

2013 ◽  
Vol 66 (1) ◽  
Author(s):  
Muhammad Ridhwan Ab. Aziz ◽  
Mohammad Mahbub Alam Noorizzuddin Nooh
Keyword(s):  
Design Analysis ◽  
Islamic Banking ◽  
Website Design ◽  
Islamic Banks ◽  
Future Researcher ◽  
Market Shares ◽  
The World ◽  
Banking Institutions ◽  
Banking Institution ◽  
Conventional And Islamic Banks

Islamic banking has emerged in recent decades as one of the most important trends in the financial world, side by side with conventional banking. Website design has become a very powerful tool in disseminating information of a particular banking institution and this phenomenon has been fully utilized by both conventional and Islamic banks throughout the world. The purpose of this article is to analyze website design of CIMB Bank that offers both conventional and Islamic financing facilities. The methodology employed in this article is qualitative in nature through examining the websites of CIMB Bank. The finding shows that CIMB Bank needs to improve their both website designs in order to attract more customers to their websites and give true information with regard of their products and services. It is further suggested that future researcher tries to explore more in-depth website designs in terms of products and services provided by the conventional and Islamic banking institutions in order to increase their market shares. 

scholarly journals Murābaḥah-Taꜥāwun Financing: An Innovation in Islamic Personal Financing

2019 ◽  
Author(s):  
International Journal of Fiqh and Usul al-Fiqh Studies
Keyword(s):  
Financial Inclusion ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Critical Factors ◽  
Distribution Of Wealth ◽  
Financial Products ◽  
Muslim Countries ◽  
The World ◽  
Financial Contract ◽  
Up Scaling

Entrepreneurs, especially in developing societies, which include many Muslim countries among their fold, face a herculean task in up-scaling their businesses due to a lack of capital to procure relevant assets to grow their businesses. The world Islamic banks’ competitiveness report (2016) identified poor financial inclusion as one of the critical factors responsible for the uneven distribution of wealth in the Muslim world. This study presents the Murābaḥah-Taʻāwun financing product as an innovative addition to the range of financial products available on the Islamic banking shelf to reduce the incidence of poverty. Murābaḥah-Taʻāwun is operationalized where a group of entrepreneurs contribute funds together under a recognized Islamic bank while allowing every partner access to the fund on a rotational basis for the purchase of an asset according to a pre-defined arrangement. The study highlighted the importance of Murābaḥah-Taʻ''āwun as an Islamic financial contract by reviewing relevant extant literature. The proposed product shows that greater financial inclusion can be achieved without recourse to riba and thus will reduce poverty among Muslims.

Public Health and a President’s Racism

Pained ◽  
2020 ◽  
pp. 29-30
Author(s):  
Michael D. Stein ◽  
Sandro Galea
Keyword(s):  
Public Health ◽  
Social Norms ◽  
Health Effects ◽  
Cultural Context ◽  
Minority Groups ◽  
The Public ◽  
Negative Side ◽  
Positive Side ◽  
The Social ◽  
The World

This chapter addresses how racism presents a clear threat to the health of populations. In 2018, President Donald Trump made racist comments toward countries with predominantly nonwhite populations. Why did the president’s racism matter for the health of the public? To answer this question, one needs to understand where health comes from. Health is the product of the social, economic, and cultural context in which people live. This context is also shaped by social norms that do much to determine people’s behaviors and their consequences. Changing these norms can produce both positive and negative health effects. On the positive side, changing norms can promote health, by making unacceptable unhealthy conditions and behaviors that were once common, even celebrated. On the negative side, changing norms for the worse can empower elements of hate in society. When a president promotes hate, it shifts norms, suggesting that hate does in fact have a place in the country and the world. This opens the door to more hate crimes, more exclusion of minority groups from salutary resources, and little to no effort to address racial health gaps.

scholarly journals Managing the Agricultural Sector Through Muzara’ah: Implementing an Islamic Economic Participatory Mode of Financing

2020 ◽  
Vol 4 (1) ◽  
pp. 27-42
Author(s):  
Amjad Ullah Jan Bangash
Keyword(s):  
Mixed Methods Research ◽  
Agricultural Sector ◽  
Islamic Law ◽  
Banking Industry ◽  
End Users ◽  
Economic Effects ◽  
The Other ◽  
Islamic Banking ◽  
Islamic Banks ◽  
The World

The tremendous growth of Islamic banking has transformed a relatively new industry into a robust and widespread reality on the ground. Several Islamic financial institutions (IFIs) operate in different countries of the world and several Islamic modes of financing have been developed; however, most cater to the needs of commercial businesses, and personal finance. Few IFI products have been made available to support the agricultural sector. One rarely used product is Salam (a kind of sale in which farmers sell their product in advance, before the season’s harvest, to get funding for farming inputs as well as for their livelihood expenses), which, however, is of limited use due to a range of limitations. Hence, there remains a need for a product which is shari’a compliant and acceptable to IFIs as well as the end users, that is, the farmers.  This paper proposes an Islamic model suitable for entrepreneurs, farmers and IFIs. A mixed-methods research methodology is applied: while the study is mainly qualitative, a quantitative approach was applied to the data obtained through questionnaires. The general finding of this paper is that there is a need to have a shari’a-compliant financing model to be based on a participatory basis, in place of the debt-based modes which are currently in extensive use by IFIs. Therefore, I selected the Muzara’ah (sharecropping) concept as the basis of a model to help the agricultural economy and the Islamic banking industry. The reason for choosing the participatory over the debt-based mode is that the latter cannot bring about any real change, as I shall demonstrate from the particular perspective of Pakistan. Research into the demography of the Pakistani agricultural sector, on the other hand, demonstrates that the Muzara’ah model can be used anywhere in the world. The paper also aims to understand the effects on this sector of the use of financing by both commercial and Islamic banks, the strengths and weaknesses of financial intermediation, and the challenges faced by Islamic banks as concerns financing the agricultural sector. This research paper is divided into four sections. The first introduces and debates the position of agriculture in Pakistan; the ways in which commercial banks extend loans to this sector, and the socio-economic effects of such loans; and the different existing financing models being used for this sector and their respective drawbacks. The section also presents a brief discussion of Islamic banking and its advantages; different Islamic modes of financing; and how Islamic banks are supporting the agricultural sector in Pakistan. Furthermore, it argues that there is a global need for an alternative Islamic model to finance the agricultural sector, and that this need is particularly pressing in Pakistan. The second section discusses the Muzara’ah model, through an extensive review of the extant Islamic literature, encompassing, but not limited to, the definition of Muzara’ah, the Islamic basis for the practice and Islamic juristic views, as well as how Muzara’ah worked in a previous age. Moreover, this section discusses the similarities and differences in opinion among Islamic jurists (experts in Islamic law) about the validity of Muzara’ah. The focus of this section is on finding a consensus as to the most common and viable mode of Muzara’ah which is acceptable to a majority of jurists.The third section surveys agriculture in Pakistan, as well as the opinions and perspectives of farmers, bankers and other stakeholders to inform the proper development of an Islamic Muzara’ah sharecropping model. Practical research was carried out in Kohat, one of the cities of Pakistan, which is famous for its guava, wheat and maize production. A description of the fieldwork is also presented in this section.The fourth section draws on all the above information to develop a model based on the concept of Muzara’ah which can be feasibly implemented in the Islamic banking industry. Moreover, it presents a discussion of the strengths and weaknesses of the model and provides suggestions and recommendations about how it should be rolled out. The needs of end users, such as farmers and growers, are addressed, and a discussion is presented of how the product better meets their needs than the other products which are currently available to them.  

scholarly journals Understanding of Islamic banking financial management in the context of global economic competition

2021 ◽  
Vol 6 ◽  
Author(s):  
Suyanto Suyanto ◽  
Novi Puji Lestari ◽  
Eka Budi Yulianti ◽  
Nanang Yusroni ◽  
Umar Chadhiq
Keyword(s):  
Financial Management ◽  
Secondary Data ◽  
Islamic Banking ◽  
Sources Of Information ◽  
Economic Competition ◽  
The World ◽  
Financial Governance ◽  
Answering Questions ◽  
Competitive Economy ◽  
Comprehensive Study

The authors believe that understanding Islamic banking financial governance at a globally competitive level is an exciting issue in global economic studies. We have carried out the completeness of the data and the discussion from various sources of information and economic data. Furthermore, our understanding efforts were made to find solutions in answering questions and problems in the context of this study by involving a comprehensive study of economics review, involving a system of data analysis, evaluation, and in-depth conclusion drawing. We carry out this study is in a qualitative type of study relying on secondary data in the form of evidence from previous studies, which we consider valid and updated in response to the problems and questions of this study. Based on the existing data supported by the evidence of previous findings, we found that Islamic banking financial governance in the context of a globally competitive economy is an exciting issue for the parties because the world today is questioned by the failure of the conventional capitalist economy in contributing solutions to the world community. Other findings are very relevant to be discussed and become an essential theme in competitive economics, especially Islamic economics.

scholarly journals The influence of religiosity and self-efficacy on the saving behavior of the Іslamic banks.

2018 ◽  
Author(s):  
anton priyo nugroho
Keyword(s):  
Self Efficacy ◽  
External Validity ◽  
Banking System ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Muslim Population ◽  
Future Studies ◽  
Islamic Bank ◽  
The World ◽  
Saving Behavior

Indonesia is a country with the largest Muslim population in the world. However, since the Islamic banks were being established in Indonesia for about 20 years, their market share only accounts for about 5% in the Indonesian banking system. Muslim participations in using Islamic bank are relatively low. This study expands the Theory of Planned Behavior by adding the variables of religiosity and self-efficacy. Previous studies have not examined this new expanded model to analyze customers who participated in using the saving Islamic bank’s products and services. Based on 220 Islamic bank consumers who participated in the study, the study indicated that questionnaires about religiosity and self-efficacy had good external validity and could be adapted for the Indonesian culture context. The most interesting finding was that the religiosity variable strongly enhanced the use of Islamic banks. Similarly, this study found that the self-efficacy variable improved an intention of customers to participate in the Islamic banking system. This paper also discusses the implications of the findings and recommendations for future studies.

The Influence of Quran and Islamic Financial Transactions and Banking

2006 ◽  
Vol 20 (3) ◽  
pp. 321-331 ◽  
Author(s):  
Abdel Halabi ◽  
Ashraf Kazi
Keyword(s):  
Saudi Arabia ◽  
Seventh Century ◽  
First Century ◽  
Islamic Banking ◽  
Economic Systems ◽  
Universal Language ◽  
The World ◽  
History Of ◽  
Conventional Banks ◽  
Financial Transactions

AbstractThe Quran is the holy book of the followers of Islam, where simple solutions to the day-to-day problems of life are discussed in detail. Whatever the nationality of a Muslim, the Quran and Islamic prayers remain in a single universal language called "Arabic". Thus, uniformity has been maintained throughout the world from the days of the Prophet Mohammed, in the seventh century to the twenty-first century. Financial transactions and banking based upon Shariah are growing rapidly today. Islamic banking has been widely accepted in many countries such as Pakistan, Malaysia, Brunei, and Saudi Arabia, and are an increasing presence in Canada and Australia. Islamic banking and financial transactions are different from conventional banks, and this has led to some criticisms. After tracing the history of Islamic Banking some of these criticisms are discussed. While Islamic Banking does face some challenges, it continues to grow, and this growth reflects the desire for social, political and economic systems based on Islamic principles.

scholarly journals The principle of maṣlaḥah and its application in Islamic banking operations in Malaysia

2019 ◽  
Vol 11 (1) ◽  
pp. 137-146 ◽  
Author(s):  
Muhammad Shahrul Ifwat Ishak
Keyword(s):  
Legal Aspect ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Content Type ◽  
Content Analysis Method ◽  
Inductive Methods ◽  
Financial Transactions ◽  
Practical Implications ◽  
Banking Operations

Purpose This paper aims to investigate the extent to which maṣlaḥah (public interest) is taken into consideration in Islamic banking operations in Malaysia, particularly in bayʿ al-ʿīnah (sale and buyback), taʿwiḍ (compensation) and ibrāʾ (rebate). Design/methodology/approach This study applies deductive and inductive methods to analyze the application of maṣlaḥah in Islamic financial transactions. Three issues in Malaysia are selected as a case study, allowing bayʿ al-ʿīnah, standardizing the rate of taʿwiḍ and stipulating the ibrāʾ clause in financial agreements. As this study is qualitative in nature, all data are analyzed based on the content analysis method. Findings Both the maṣlaḥah of Islamic banks and their customers were found to be considered by the Central Bank of Malaysia in the implementation of contracts and principles of Islamic banking. The first maṣlaḥah represents the viability of Islamic banks, while the second maṣlaḥah promotes fairness and transparency between Islamic banks and their customers. Research limitations/implications This study only focuses on the contracts and principles of Islamic banking operations in Malaysia with regard to three selected issues. Practical implications This paper clarifies the practical application of maṣlaḥah in the Islamic banking industry, particularly with regard to implementing its contracts and principles. Originality/value This paper analyzes the argument of maṣlaḥah on the issues of bayʿ al-ʿīnah , taʿwiḍ and ibrāʾ in Malaysia, which are considered among scholars to be debatable issues. While many discussions focus on the legal aspect of Sharīʿah on those issues, this study emphasizes how the application of maṣlaḥah aims to solve the current problems and harmonize between Sharīʿah and reality.

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