For Diversity in the International Regulation of Financial Institutions: Redesigning the Basel Architecture

The purpose of the study are to (1) review the main problems faced by the factory of Kepuruk Manunggal Karsa (MK), and (2) assessing the entrepreneur attempts to be able to solve the problems faced. The research was carried out using qualitative descriptive design. The results showed that (1) the lack of supply of raw materials as a result of lack of capital. Sequel is due, the difficulty of the plant to meet consumer demand (excess demand). (2), the system of capital used is circulating capital (capital turnover). Earned income used up to finance the operation of the plant. (3) Innovation has been done in the form of deal with bad weather (rain) as an effort of crackers drying process is by using the oven. (4) There has been no cooperation with financial institutions. (5) There is no organizational structure as a modern factory for traditionally managed by family management. (6) Marketing using modes of transportation carts and motor vehicles.

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Application of Statutes of Limitations to Islamic Banking: The Case of Malaysia

The Journal of Muamalat and Islamic Finance Research ◽

10.33102/jmifr.v17i1.260 ◽

2020 ◽

Vol 17 (1) ◽

pp. 56-69

Author(s):

Aishath Muneeza ◽

Zakariya Mustapha

Keyword(s):

Qualitative Research ◽

Financial Institutions ◽

Research Methodology ◽

Islamic Law ◽

Islamic Banking ◽

Legal Action ◽

Qualitative Research Methodology ◽

The Right ◽

Limitation Of Action ◽

Insight Into

Limitations of action designate extent of time after an event, as set by statutes of limitations, within which legal action can be initiated by a party to a transaction. No event is actionable outside the designated time as same is rendered statute-barred. This study aims to provide an insight into application and significance of Limitations Act 1950 and Limitation Ordinance 1952 to Islamic banking matters in Malaysia as well as Shariah viewpoint on the issue of limitation of action. In conducting the study, a qualitative research methodology is employed where reported Islamic banking cases from 1983 to 2018 in Malaysia were reviewed and analysed to ascertain the application of those statutes of limitations to Islamic banking. Likewise, relevant provisions of the statutes as invoked in the cases were examined to determine possible legislative conflicts between the provisions and the rule of Islamic law in governing the right and limitation of action in Islamic banking cases under the law. The reviewed cases show the extent to which statutes of limitations were invoked in Malaysian courts in determining validity of Islamic banking matters. The limitation provisions so referred to are largely sections 6(1)(a) and 21(1) Limitations Act 1953 and section 19 Limitation Ordinance 1953, which do not conflict with Shariah viewpoint on the matter. This study will prove invaluable to financial institutions and their customers alike in promoting knowledge and creating awareness over actionable event in the course of their transactions.

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AKAD FINANCING OF MURABAHAH BETWEEN CUSTOMERS WITH MUAMALAT BANKS HARKAT VIEWED FROM SHARI'AH PRINCIPLES

Bengkoelen Justice : Jurnal Ilmu Hukum ◽

10.33369/j_bengkoelenjust.v10i1.11340 ◽

2020 ◽

Vol 10 (1) ◽

pp. 13-26

Author(s):

Candra Irawan ◽

Adi Bastian ◽

Febrozi Rohadi

Keyword(s):

Data Collection ◽

Financial Institutions ◽

Research Method ◽

Economic Condition ◽

Field Research ◽

Comprehensive Analysis ◽

Islamic Banks ◽

Legal Research ◽

Trading System ◽

Library Research

Currently in Indonesia Islamic Bank has gained a place and interested in the community, causing many emerging Syari'ah Bank and Financial Institutions of the syari'ah, and products in Islamic banks are widely used is murabahah financing. The formulation of the problem in this research are: (1). How is the implementation of the sale and purchase through murabahah financing between Bank Muamalat Harkat with customers. (2). Is trading system murabahah financing between Bank Muamalat Harkat and customers have been according to the principles of Syari’ah. (3). How murabahah financing efforts to resolve the breach between the customer and Muamalat Harkat. This research method is empirical legal research, this study was conducted in Bank Muamalat Harkat based data collection through field research such as interviews, observation and description as well as information from respondents through library research. The results of this research are: before an agreement Bank to assess carefully the prospective customer in the form of a comprehensive analysis and is divided into several stages, such as the assessment using the principle of 5C Character (Character of the debitor), Chapacity (Capability Candidate Debitor) , Capital (Capital candidate Debitor), Collateral (Collateral candidate Debitor) and Condition of economy (economic condition of the prospective Borrower). Trading system murabahah financing between Bank Muamalat Harkat with the customer has not fully based on the principles of the Syari'ah. Murabahah financing efforts to resolve the defaults can be solved by R3 is Restrukturing (Arrangement Back), Reconditioning (Terms Back) and Rescheduling (rescheduling), sales collateral and auction execution.

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PERAN DESIGNATED PERSON ASHORE (DPA) DALAM PENGOPERASIAN KAPAL YANG AMAN SESUAI KETENTUAN NASIONAL DAN INTERNASIONAL

JURNAL SAINS DAN TEKNOLOGI MARITIM ◽

10.33556/jstm.v20i1.212 ◽

2019 ◽

Vol 20 (1) ◽

Author(s):

Suganjar Suganjar ◽

Renny Hermawati

Keyword(s):

Marine Environment ◽

Emergency Preparedness ◽

Safety Management ◽

Shipping Industry ◽

Safe Operation ◽

International Regulation ◽

Loss Of Life ◽

Shipping Company ◽

Environmental Protection Policy ◽

Human Injury

Safety management in the shipping industry is based on an international regulation. It is International Safety Management Code (ISM-Code) which is a translation of SOLAS ‘74 Chapter IX. It stated that the objectives of the Code are to ensure safety at sea, prevention of human injury or loss of life, and avoidance of damage to the environment, in particular, to the marine environment, and to property.it is also requires commitment from top management to implementation on both company and on board. The implementation of the ISM-Code is expected to make the ship’s safety is more secure. The ISM-Code fulfillment refers to 16 elements, there are; General; Safety and Environmental Protection Policy; Company Responsibility and Authority; Designated Person(s); Master Responsibility and Authority; Resources and Personnel; Shipboard Operation; Emergency Preparedness; Report and Analysis of Non-conformities, Accidents and Hazardous Occurrences; Maintenance of the Ship and Equipment; Documentation; Company Verification, Review, and Evaluation; Certification and Periodical Verification; Interim Certification; Verification; Forms of Certificate. The responsibility and authority of Designated Person Ashore / DPA in a shipping company is regulated in the ISM-Code. So, it is expected that DPA can carry out its role well, than can minimize the level of accidents in each vessels owned/operated by each shipping company.Keywords : ISM Code, Safety management, Designated Person Ashore Manajemen keselamatan di bidang pelayaran saat ini diimplementasikan dalam suatu peraturan internasional yaitu International Safety Management Code (ISM-Code) yang merupakan penjabaran dari SOLAS 74 Chapter IX-Management for the safe operation of ships. Tujuan dari ISM-Code “The objectives of the Code are to ensure safety at sea, prevention of human injury or loss of life, and avoidance of damage to the environment, in particular, to the marine environment, and to property” dan ISM-Code menghendaki adanya komitmen dari manajemen tingkat puncak sampai pelaksanaan, baik di darat maupun di kapal. Pemberlakuan ISM-Code tersebut diharapkan akan membuat keselamatan kapal menjadi lebih terjamin. Pemenuhan ISM-Code mengacu kepada 16 elemen yang terdiri dari ; umum; kebijakan keselamatan dan perlindungan lingkungan; tanggung jawab dan wewenang perusahaan; petugas yang ditunjuk didarat; tanggung jawab dan wewenang nahkoda; sumber daya dan personil; pengopersian kapal; kesiapan menghadapi keadaan darurat; pelaporan dan analisis ketidaksesuaian, kecelakaan dan kejadian berbahaya; pemeliharaan kapal dan perlengkapan; Dokumentasi; verifikasi, tinjauan ulang, dan evaluasi oleh perusahaan; sertifikasi dan verifikasi berkala; sertifikasi sementara; verifikasi; bentuk sertifikat. Tugas dan tanggungjawab Designated Person Ashore/DPA didalam suatu perusahaan pelayaran, telah diatur di dalam ISM-Code. Sehingga diharapkan agar DPA dapat melaksanakan peranannya dengan baik, sehingga dapat menekan tingkat kecelakaan di setiap armada kapal yang dimiliki oleh setiap perusahaan pelayaran.Kata kunci : ISM Code, Manajemen keselamatan, Designated Person Ashore

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Effects of Financial Innovations on Profitability for Deposit Taking Microfinancing Institutions in Kenya

Journal of Business and Economics ◽

10.15341/jbe(2155-7950)/06.09.2018/007 ◽

2018 ◽

Vol 9 (6) ◽

pp. 529-536

Author(s):

Martin Khoya Odipo ◽

Keyword(s):

Financial Institutions ◽

Positive Relationship ◽

Financial Institution ◽

Secondary Data ◽

Financial Statements ◽

Descriptive Statistics ◽

Primary Data ◽

Microfinance Institutions ◽

Financial Innovations ◽

Strong Positive Relationship

Recent studies have documented that innovations improve profitability of firms. This article documents that deposit taking micro financial institutions that have adopted financial innovations have increased their profitability. The study covered five years between 2009-2013. Both primary and secondary data were used in the study. Primary data was obtained through administration of drop and pick questionnaires to selected employees of the institutions. Secondary data was obtained from financial statements and management reports of these deposit taking microfinance institutions. Data was analyzed using descriptive statistics, return on asset and multi-liner regression model to determine the effect of each financial innovation applied on profitability on the micro-financial institution. The results showed that most deposit taking microfinance institutions adopted these financial innovations in their current operations. There was strong positive relationship between individual innovations and profitability. In line with profitability ROA also showed improvement each year after the adoption of these financial innovations.

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