scholarly journals Term - Deposit Waqf Linked Isthisna (TDWLI): Proposed Models, Accounting Aspects, and Risk Management Analysis

2020 ◽  
Vol 11 (1) ◽  
pp. 79-105
Author(s):  
Yaser Taufik Syamlan ◽  
Sakinah Sakinah ◽  
Mursalmina Mursalmina ◽  
Asfa Asfiah
Keyword(s):  
Risk Management ◽  
New Product ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Product Variant ◽  
The Cost ◽  
Accounting Terms ◽  
Main Variant

Abstract: Islamic banking (further referred to as the Bank) faces two significant problems: excessive concentration in Murabaha financing contracts and high cost of funds. These two classic problems directly impact the development of the Bank and give rise to the stigma of a less innovative and unprofitable industry. This research aims to make a new product breakthrough that can help stakeholders overcome the two problems above. Term Deposit Waqf Linked Isthisna (TDWLI) has 4 variants: TDWLI Perpetual Principal, TDWLI Perpetual Principal + Profit Sharing, TDWLI Periodic Principal, TDWLI Periodic Principal, and + Profit Sharing. The TDWLI Periodic Principal is the variant that is most ready to be applied because, in accounting terms, it has been regulated in PSAK 112. In general, this TDWLI product will provide several advantages for banks to reduce the cost of funds (especially in the main variant of Waqf only). It will increase Isthisna financing, referring to OJK data in 2019, only 0.3% of total financing. In terms of accounting treatment, PSAK 112 must be adjusted especially if the Bank will release a Perpetual-based product variant. The main problem with perpetual-based products is the uncommon features. In perpetual, cash waqf cannot be withdrawn or, in other words, eternal. This research recommends that OJK is expected to study this product more deeply to develop healthy and innovative Islamic banking.Abstrak: Perbankan syariah (selanjutnya disebut Bank) saat ini sedang menghadapi 2 masalah besar yaitu konsentrasi berlebihan di akad pembiayaan Murabaha serta tingginya Cost of Fund. Kedua masalah klasik ini berdampak langsung kepada perkembangan Bank dan memunculkan stigma industry yang kurang inovatif dan tidak menguntungkan. Penelitian ini bertujuan untuk membuat terobosan produk baru yang dapat membantu stakeholders dalam mengatasi kedua masalah diatas. Produk Deposito Waqf Linked Isthisna (DWLI) dengan 4 varian nya baik itu DWLI Perpetual Pokok, DWLI Perpetual Pokok + Bagi Hasil, DWLI Periodic Pokok dan DWLI Periodic Pokok + Bagi Hasil. DWLI Periodic Pokok menjadi varian yang paling siap untuk diaplikasikan karena secara akuntansi sudah diatur dalam PSAK 112. Secara umum produk DWLI ini akan memberikan beberapa keuntungan bagi bank dalam rangka menurunkan cost of fund (terutama pada varian Wakaf pokok saja) serta akan menaikkan pembiayaan Isthisna yang merujuk kepada data OJK tahun 2019 hanya 0,3% dari total pembiayaan. Secara perlakuan akuntansi, PSAK 112 harus disesuaikan terutama apabila Bank akan merelaisasikan varian produk berbasis Perpetual. Permasalahan utama dari produk berbasis perpetual adalah ketidak umuman fitur dimana dalam perpetual, Wakaf uang tidak dapat ditarik atau dengan kata lain abadi. Rekomendasi dari penelitian ini adalah OJK diharapkan dapat mengkaji produk ini lebih dalam demi perkembangan perbank syariah yang sehat dan inovatif.Islamic banking (further referred to as the Bank) faces two significant problems: excessive concentration in Murabaha financing contracts and high cost of funds. These two classic problems directly impact the development of the Bank and give rise to the stigma of a less innovative and unprofitable industry. This research aims to make a new product breakthrough that can help stakeholders overcome the two problems above. Term Deposit Waqf Linked Isthisna (TDWLI) has 4 variants: TDWLI Perpetual Principal, TDWLI Perpetual Principal + Profit Sharing, TDWLI Periodic Principal, TDWLI Periodic Principal, and + Profit Sharing. The TDWLI Periodic Principal is the variant that is most ready to be applied because, in accounting terms, it has been regulated in PSAK 112. In general, this TDWLI product will provide several advantages for banks to reduce the cost of funds (especially in the main variant of Waqf only). It will increase Isthisna financing, referring to OJK data in 2019, only 0.3% of total financing. In terms of accounting treatment, PSAK 112 must be adjusted especially if the Bank will release a Perpetual-based product variant. The main problem with perpetual-based products is the uncommon features. In perpetual, cash waqf cannot be withdrawn or, in other words, eternal. This research recommends that OJK is expected to study this product more deeply to develop healthy and innovative Islamic banking

Muhammad Nejatullah Siddiqui. Issues in Islamic Banking: Selected Papers, Leicester: The Islamic Foundation. 1983 , I 52pp.Author and Subject Indexes.

1983 ◽  
Vol 22 (1) ◽  
pp. 57-61
Author(s):  
Shahrukh Rafi Khan
Keyword(s):  
Analytical Model ◽  
Significant Contribution ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Current State ◽  
The Subject ◽  
Made In

The book under review is a compilation of the author's articles and lectures that highlight the prominent developments in the literature on the subject of Islamic banking and inform the reader of the current state of debate on it. One of the earliest and main contributors to this topic is the author himself. The focus of this review will mainly be on "Economics of Profit-Sharing", which is the title of the fourth chapter of the book and is among his latest contributions. This chapter is a significant contribution as it is the first attempt to formalise the concept of profit sharing into an analytical model and, therefore, demands closer scrutiny. However, in the remaining chapters of the book, the author has drawn attention to some of the fine points made in the literature on this topic. Since some of these points appear to be controversial to me, I will briefly discuss them before moving on to the analytical chapter of the book.

PENERAPAN ASAS KEADILAN PADA TRANSAKSI PENYIMPANAN DANA NASABAH DI BANK SYARIAH BERDASARKAN AKAD MUDHARABAH

2020 ◽  
Vol 5 (1) ◽  
pp. 1-12
Author(s):  
SITI NUR SHOIMAH
Keyword(s):  
Profit Sharing ◽  
Islamic Banking ◽  
Business Activity ◽  
Legal Research ◽  
Conceptual Approach ◽  
Islamic Bank ◽  
Principle Of Justice

ABSTRAK This research is motivated by the fact that it does not include clauses related to the risk of the Bank or the Customer in the mudharabah agreements in the customer deposit funds in Islamic Banking (Sharia Banking), if at any time the business of managing a Islamic Bank fund suffers, even though there are also Customer funds in the business, and it’s not balanced, because maybe only one party, the Customer or the Bank, bears the risk of loss. This imbalance then causes injustice, even though justice is a shariah requirement in the distribution of results from a business activity. Research that uses the normative legal research with the statute approach, and conceptual approach, results in the finding that the principle of justice in customer deposit funds in Islamic Banking based on mudharabah agreements is realized in the form of profit sharing system in the form of proportional and balanced benefits and risks.   Keyword: Principle of Justice, Mudharabah Agreements, Customer Deposit Fund, Islamic Banking   ABSTRAK Penelitian ini dilatarbelakangi oleh fakta yang menunjukkan tidak dicantumkannya klausul terkait resiko Bank ataupun Nasabah di dalam akad mudharabah pada transaksi penyimpanan dana Nasabah di Bank Syariah, apabila suatu ketika usaha dari pengelolaan dana Bank Syariah mengalami kerugian, padahal di dalam usaha tersebut juga terdapat dana Nasabah, dan ini tentu tidak seimbang, karena dimungkinkan hanya pihak Nasabah Penyimpan atau Bank Syariah yang menanggung resiko atas kerugian tersebut. Ketidakseimbang inilah yang kemudian menimbulkan adanya ketidakadilan, padahal keadilan merupakan persyaratan syari’ah dalam pembagian hasil dari suatu kegiatan usaha. Penelitian yang menggunakan metode normatif dengan pendekatan perundang-undangan dan pendekatan konseptual ini, menghasilkan temuan bahwa asas keadilan pada transaksi penyimpanan dana Nasabah di Bank Syariah berdasarkan akad mudharabah diwujudkan dalam bentuk sistem bagi hasil berupa keuntungan dan resiko secara proporsionalitas dan seimbang.        Kata Kunci:Asas Keadilan,  Akad Mudharabah, Penyimpanan Dana Nasabah, Bank Syariah  

RISK MANAGEMENT PRACTICES IN ISLAMIC BANKING INSTITUTIONS: A COMPARATIVE STUDY BETWEEN MALAYSIA AND INDONESIA

2016 ◽  
Vol 72 (12) ◽  
Author(s):  
Rashidah Abdul Rahman ◽  
Zuraeda Ibrahim ◽  
Achmad Tohirin ◽  
Aliyu Dahiru.Muhammad,Rossje Vitariamettawaty Suryaputri
Keyword(s):  
Risk Management ◽  
Comparative Study ◽  
Management Practices ◽  
Islamic Banking ◽  
Banking Institutions

Value-based dentistry: Putting the patient first

2016 ◽  
Vol 7 (3) ◽  
pp. 126-129 ◽  
Author(s):  
Sreenivas Koka ◽  
Galya Raz
Keyword(s):  
Risk Management ◽  
Quality Improvement ◽  
Quality Of Care ◽  
Dental Care ◽  
Time Cost ◽  
Safety Risk ◽  
The Cost ◽  
Over Time

What does ‘value’ mean? In the context of dental care, it can be defined as the quality of care received by a patient divided by the cost to the patient of receiving that care. In other words: V =Q/C, where Q equals the quality improvement over time, which most patients view in the context of the outcome, the service provided and safety/risk management, and C equals the financial, biological and time cost to the patient. Here, the need for, and implications of, value-based density for clinicians and patients alike are explored.

Improving new product development performance by risk management

2016 ◽  
Vol 31 (3) ◽  
pp. 418-425 ◽  
Author(s):  
Mehran Salavati ◽  
Milad Tuyserkani ◽  
Seyyede Anahita Mousavi ◽  
Nafiseh Falahi ◽  
Farshid Abdi
Keyword(s):  
Risk Management ◽  
Product Development ◽  
New Product Development ◽  
Small Sample Size ◽  
New Product ◽  
Small Sample ◽  
Content Type ◽  
Total Performance ◽  
The Relationship ◽  
Npd Performance

Purpose The principal aim of this study is to investigate the relationship between technological, marketing, organizational and commercialization risk management on new product development (NPD) performance. Design/methodology/approach Based on questionnaire, the data were collected from a sample of general automotive industry in Iran. Based on theoretical considerations, a model was proposed and descriptive statistic and hierarchical regression were used to measure the relationship between risk management factors and NPD performance. Findings Data analysis revealed that if organization can amplify their knowledge and information about risk and main factors that affect NPD process, not only can they do their work better but can also increase their ability to predict future happenings that affect performance. Research limitations/implications First, due to the relatively small sample size, caution should be exercised when interpreting the results. Second, the data were collected from automotive producer in Iran, which may restrict to some extent generalizability of the findings. Practical implications The results suggest that managers should consider more attention to risk management. If managers spread the risk management in all aspects of the NPD project, total performance will be increased and it can develop the probability of NPD success. Also organizations should perform great market research due to best commercialization. Originality/value Past researches have presented complete information about NPD process. But identifying and considering the effect of the risk management parameters that are connected to the NPD process were the main thrusts to perform the study. In this paper, based on past research about risk management of NPD, the extra aspect of process that can improve total performance of NPD has been examined.

scholarly journals Pricing Linkage between Islamic Banking and Conventional Banking: The Case of Bangladesh

2016 ◽  
Vol 3 (4) ◽  
pp. 84
Author(s):  
Sarwar Uddin Ahmed ◽  
Ashikur Rahman ◽  
Samuel Parvez Ahmed ◽  
G M Wali Ullah
Keyword(s):  
Profit Sharing ◽  
Islamic Banking ◽  
Specific Rate ◽  
Islamic Banks ◽  
Loss Mechanism ◽  
Monthly Data ◽  
For Profit ◽  
Significant Difference ◽  
Conventional Banks ◽  
The Relationship

<p><em>Islamic banking is based on profit and loss mechanism where the use of interest is prohibited.  Unlike conventional banks, these banks do not charge a specific rate of interest, rather provides financing in exchange for profit sharing.  However, there are studies claiming that, in practice, Islamic banking is same as conventional banking with regard to the use of interest. It is also claimed that, Islamic deposits are not interest-free, but are closely attached to conventional deposits.  On this background, the objective of this study is to examine the relationship between pricing in Islamic banks vis-à-vis conventional banks by taking the case of Bangladesh. We have used monthly data during the period of 2009-2013. The findings of the study showed that, there is no statistically significant difference between the monthly average lending rates of Islamic banks and conventional banks. However, there is significant difference between deposit rates. The existence of causal relationship was inconclusive, and requires further analysis.</em></p>

scholarly journals Analisis Kinerja Keuangan Bank Umum Syariah di Indonesia berdasarkan Islamicity Performance Index Periode 2015-2019

2021 ◽  
Vol 3 (2) ◽  
pp. 230-253
Author(s):  
Fakhry Hafiyyan Kurniawan ◽  
A. Jajang W. Mahri ◽  
Rumaisah Azizah Al Adawiyah
Keyword(s):  
Performance Measurement ◽  
Performance Index ◽  
Descriptive Analysis ◽  
Profit Sharing ◽  
Commercial Banking ◽  
Performance Ratio ◽  
Measurement Tool ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Average Value

Islamic Commercial Banking in Indonesia generally has not fully carry out business activities in accordance with sharia provisions. Therefore, there is a need for a performance measurement tool that is able to express spiritual and social values embodied in Islamic banks. The purpose of this study is to describe the performance of Islamic banking based on Islamicity Performance Index. This research is a quantitative research using descriptive analysis. The data used in this research is secondary data. The study population was Islamic banks in Indonesia during the period 2015-2019, with a sample of twelve banks. Sampling was done by using purposive sampling method. The results showed Panin Dubai Sharia Bank was the best bank in the Profit Sharing Ratio (PSR) indicator. The value of Zakat Performance Ratio (ZPR) in Islamic banking in Indonesia is still low. BNI Sharia is the bank with the highest average value for the ZPR indicator. Equitable Distribution Ratio (EDR) indicates that Mandiri Sharia Bank has the highest average value. Directors-Employees Welfare Ratio (DEWR) shows that BTPN Sharia have fairly high levels of disparity between directors and employees. IIR and IsIR shows  that in general Islamic commercial banks in Indonesia have carried out businesss performance in the halal sector. Meanwhile, overall, it received a satisfactory predicate. This research is expected to be taken into consideration for the related institutions to apply the performance measurement of Islamic Commercial Banking in accordance with the concept of Islamicity Performance Index, and be taken into consideration in taking policy measures in accordance with the concept of sharia that will be used in the future.  

scholarly journals PENGEMBANGAN KERANGKA MANAJEMEN RISIKO PADA PERBANKAN SYARIAH

2019 ◽  
Vol 4 (1) ◽  
pp. 46-67
Author(s):  
Diah Novianti
Keyword(s):  
Decision Making ◽  
Risk Management ◽  
Risk Identification ◽  
The Other ◽  
Management Model ◽  
Islamic Banking ◽  
Business Activity ◽  
Business Risk ◽  
Management Framework ◽  
Risk Management Framework

Islamic banking such as the other business institution will face different kind of risk that inherent on its main business activity. In business, risk defined as a posibillity an can appear every time, before, when, and after the decision making. Islamic banking faced different risk with the conventional banking, because its uniquenes. Thus, the development of risk management framework in Islamic banking is very important to do, especially in frame of  risk identification, measuring, mitigation and monitoring. This paper will discuss about risk management in Islamic Banking, in theoretically and the implementation of risk management. The scope of this study will include the identification of risk in Islamic Banking, stage of risk management in Islamic Banking, risk management model, and also the devolpment of risk management framework in Islamic Banking.

scholarly journals THE ISLAMIC BANKING AND THE ECONOMIC INTEGRATION IN ASEAN

2016 ◽  
Vol 19 (1) ◽  
pp. 81-106
Author(s):  
Solihin Solihin ◽  
Noer Azam Achsani ◽  
Imam T Saptono
Keyword(s):  
Market Power ◽  
Banking System ◽  
Islamic Banking ◽  
Tobit Regression ◽  
Total Size ◽  
Bank Efficiency ◽  
Internal Factors ◽  
Banking Efficiency ◽  
Important Indicator ◽  
The Cost

The efficiency level of the banking industry is the most important indicator to identify the soundness of banking system. This paper use non parametric frontier approach, DEA, to analyze the Islamic bank efficiency in ASEAN. We use price of deposit from customers, deposits and placements of banks, labor, and others operational expenditures as control variabel, and using financing, deposits and placements on other insitution, securities, others investment as output variabel. We found that the mix bank is the most efficient group within the observation period. Furthermore, the average Islamic banking efficiency in Indonesia, on intermediation approach, is lower than the average of ASEAN, unless they can reduce the cost of labor and other operational expenses. This paper also examines the determinant of efficiency of the Islamic Banking in ASEAN. Internal factors are Total Aset, ROA, BOPO, and ETA, and external faktor are Market Power and Inflation. Using Tobit regression, the result shows the factors that most influence to the Islamic banking efficiency in Indoneisa is the total size of the bank or its assets, OPEX/OR, and Market Power.

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