scholarly journals The Importance of Maqashid Sharia as a Theory In Islamic Economic Business Operations

2019 ◽  
Vol 3 (2) ◽  
pp. 130
Author(s):  
Nurhadi Nurhadi
Keyword(s):  
Credit Card ◽  
Rapid Development ◽  
Revenue Sharing ◽  
Islamic Banks ◽  
Business Transactions ◽  
Business Operations ◽  
Net Revenue ◽  
The Law ◽  
Conventional Banks ◽  
Islamic Economic

This article discusses the urgency of maqashid wisdom in the operation of Islamic economic business. The rapid development of Islamic economics and finance in the contemporary era, many problems have arisen, such as hedging, sukuk schemes, repos, syndicated financing between Islamic banks or with conventional banks, restructuring, indent property financing, ijarah maushufash fiz zimmah, multi financing use, credit card design, maqashid from annuity, bargain, net revenue sharing, gold installments, gold investment and other new cases. The application of the wisdom of the maqashid shari`ah is an elaboration of the great maqashid (goal), namely hifzu al-Mal (safeguarding wealth) and fulfilling the purpose and mashlahah of wealth. Maintaining and maintaining the intentions of these assets sometimes in terms of how to get it (min janibi al-wujud) or in terms of maintaining assets that are already owned (min janibi al-‘adam). Hifzu al-Mal is a family of methods in the field of muamalah, this method is translated by Maqashid syari`ah ammah (general purposes) and Maqashid khassah (special purpose) also called maqashd juz’iyyah, which is very numerous and countless. Maqashid khassah is the result of Istiqra 'of the scholars towards the texts and the laws of shari'ah and results in certainty (qath'i) that this Shari'a establishes it as a goal that has consequences and implications. So in the operation of sharia economic business the wisdom of maqashid sharia is that the benefit must be secured and based on shariah principles, even though the Islamic economic business transactions by establishing the benefits that are in accordance with the sharia and the proposition as well as the interfaith of the minkum (the pleasure of the same pleasure) in accordance with the sharia agreement, even though the law is debated, for example bai ad-dayan contract, bargaining contract and others.

scholarly journals The Implementation of Ijarah Muntahiya Bittamlik and Mudharabah Products in the Sharia Economic Law Perspective

2018 ◽  
Vol 2 (2) ◽  
Author(s):  
Mimin Mu’minah
Keyword(s):  
Rapid Development ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Economic Law ◽  
Conventional Banks ◽  
Islamic Economic

This article is motivated by the rapid development of the Islamic banking world, especially in Indonesia where the majority of the population is Muslims. When other countries have given birth to Islamic-based banks, as well as Indonesia, in 1992 was the establishment of Bank Muamalat Indonesia. Islamic banks use applications that are different from conventional banks, where the term on conventional banks is interest, whereas in Islamic banks use the profit sharing application. One application of Islamic banks that is very helpful to customers is the Mudharabah and Ijarah Muntahiya Bittamlik (IMBT) application. Although these two applications exist in Islamic banks or Islamic-based banks, it is possible that the two applications are not in accordance with Islamic economic law. Therefore, this paper tries to analyze the mudharabah and IMBT applications in the perspective of sharia economic law.  

scholarly journals Mapping the Trend of Islamic Economic Studies Indexed in Sinta Website: A Bibliometric Analysis

2021 ◽  
Vol 10 (2) ◽  
pp. 311
Author(s):  
Muhammad Muhajir Aminy ◽  
Imronjana Syapriatama ◽  
Restu Fahdiansyah ◽  
Gatot Suhirman ◽  
Muhammad Salahuddin
Keyword(s):  
Bibliometric Analysis ◽  
Rapid Development ◽  
Economic Research ◽  
Islamic Banks ◽  
Analysis Method ◽  
Muslim Countries ◽  
Quantitative Descriptive ◽  
Conventional Banks ◽  
Islamic Economic ◽  
Economic Studies

Research on Islamic economics experienced rapid development in recent years along with the development of Islamic economics as a branch of science throughout the world, especially in Muslim countries. This paper aims at mapping and observing the trend of Islamic economic studies listed on SINTA, the official Indonesian indexing website. The sampling data for this study is 114 published papers obtained from the website. The data are analyzed using quantitative descriptive with bibliometric analysis method. This study found that most papers are published by “Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah”, owned by Syarif Hidayatullah State Islamic University. The qualitative approach is most used by research samples in this study with 74 papers (64.91%), while quantitative is only used by 40 papers (35.08%). It also found that Islamic economic research in Indonesia is dominated by Islamic bank topics with several general bank keywords, such as efficiency, profitability, liquidity, and Non-Performing Financing (NPF). This study suggested that further researchers conduct more studies on Islamic or Sharia values implemented within Islamic banks since it is the main difference between Islamic and conventional banks. Further studies can also observe broader problems like poverty and how the Islamic economy has overcome this issue==================================================================================================== ABSTRAK – Pemetaan Tren Kajian Ekonomi Islam pada Pengindeks SINTA: Suatu Analisis Bibliometrik. Penelitian di bidang ekonomi Islam mengalami perkembangan yang cukup signifikan beberapa tahun terakhir bersamaan dengan perkembangan ekonomi Islam sebagai salah satu cabang ilmu pengetahuan, terutama di negara-negara dengan mayoritas penduduknya adalah Muslim. Artikel ini bertujuan untuk melakukan pemetaan dan melihat tren publikasi pada artikel penelitian ekonomi Islam yang terindeks SINTA, website pengideks resmi Indonesia. Sebanyak 114 artikel diperoleh dari SINTA untuk dijadikan sebagai sampel penelitian. Metode yang digunakan adalah deskriptif kuantitatif dengan analisis bibliometrik. Penelitian ini menemukan bahwa mayoritas paper dipublikasikan oleh “Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah” dari UIN Syarif Hidayatullah Jakarta. Pendekatan kualitatif digunakan oleh 74 sampel artikel (64.91%), sementara pendekatan kuantitatif digunakan oleh 40 artikel (35.08%). Studi ini juga menemukan bahwa artikel kajian ekonomi Islam di Indonesia masih didominasi oleh penelitian terkait bank syariah dengan beberapa kata kunci, diantaranya: efisiensi, profitabilitas, likuiditas, dan Non-Performing Financing (NPF). Penelitian ini merekomendasikan kepada para peneliti di bidang ekonomi Islam untuk melakukan kajian lebih mendalam pada nilai-nilai Syariah yang diimplementasikan di bank Syariah karena hal tersebut merupakan perbedaan mendasar antara bank Syariah dan bank konvensional. Isu lebih luas terkait kemiskinan dan bagaimana ekonomi Islam mengatasinya juga dapat diteliti secara lebih komprehensif dalam kerangka penelitian ekonomi Islam.

scholarly journals Analysis of Indonesian Islamic and Conventional Banking Before and After 2008

2016 ◽  
Vol 8 (11) ◽  
pp. 193 ◽  
Author(s):  
Arfianti Novita Anwar
Keyword(s):  
Secondary Data ◽  
Rank Test ◽  
Islamic Banking ◽  
Positive Contribution ◽  
Islamic Banks ◽  
Significant Difference ◽  
Before And After ◽  
Signed Rank Test ◽  
The Law ◽  
Conventional Banks

<p>This study aims to analyze the performance of Islamic banks and conventional banks before and after the implementation of Islamic Banking Act 2008. The performance will be measured using CAMEL ratio selected. This research is considered essential in examining the positive contribution of the application of the Act to improve the performance of Islamic banks in Indonesia. By using secondary data, this study compared the performance of Islamic banks with that conventional bank selected as samples during the study period. Data were analyzed using the Wilcoxon Signed Rank Test for inter-temporal and Mann-Whitney test for inter-bank. Inter-temporal Tests conducted on Islamic Banking showed that a significant difference was only seen in the NPF ratio of 2 years before and after implementation of Islamic Banking Act. As for conventional banks showed a more diverse ie for 1 year before and after the application of the Law on Islamic Banking there are significant differences for the ROA and ROE, two years before and after implementation of the Law Islamic banking there are significant differences for the CAR, ROA, ROE and NIM and for the overall test a significant difference to CAR, ROA, ROE, NIM and efficiency. Inter-bank testing showed that prior to the application of Islamic Banking Act there are significant differences between conventional banks and Islamic banks to CAR, ROA and efficiency. Furthermore, after the application of Islamic Banking Act there is a significant difference for the CAR and LDR / FDR.</p>

scholarly journals KARTU KREDIT SYARIAH DAN PERILAKU KONSUMTIF MASYARAKAT

2014 ◽  
Vol 14 (2) ◽  
Author(s):  
Dewi Sukma Kristianti
Keyword(s):  
Credit Card ◽  
Consumer Behaviour ◽  
Credit Cards ◽  
Payment System ◽  
Islamic Banks ◽  
Muslim Community ◽  
Islamic Economic

Islamic Credit Cards and Consumptive Behaviour of Society. The credit card as one means of payment utilising cards, is a payment system that is growing rapidly, brought about by the security and risk of carrying cash in large amounts, efficiency, speed and ease of transaction that is offered. Islamic banks are glancing consumer funding products as one of the products services to be offered. There is a very important limitation that must be realized for Islamic banks, namely the provisions of the shari’a principles regarding the provision of credit card and influence on consumer  behaviour  society,  particularly  the  Muslim  community.  It  is  not  impossible  for  the  existence  of  Islamic credit cards that are presented for the ease of transacting to become a card for the ease of indebtedness and cause a consumptive/wasteful attitude that is definitely forbidden in Islamic economic concept.DOI: 10.15408/ajis.v14i2.1287

scholarly journals MUDHARABAH SCHEME WITHIN THE ISLAMIC BANKING: PROFIT SHARING AND ASSOCIATED PROBLEMS IN IT

Kodifikasia ◽  
2020 ◽  
Vol 14 (2) ◽  
pp. 235-262
Author(s):  
Supriatna Supriatna ◽  
Irpan Helmi ◽  
Nurrohman Nurrohman
Keyword(s):  
Qualitative Methods ◽  
Revenue Sharing ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Financial Loss ◽  
Net Profit ◽  
Financing And Investment ◽  
Conventional Banks ◽  
Sense Of Justice

Artikel ini membahas prinsip bagi hasil dalam skema mudharabah di perbankan syariah dan permasalahan yang terdapat di dalamnya dengan metode deskriptif-kualitatif melalui studi kepustakaan dan eksploratif literatur. Skema mudharabah biasanya diterapkan pada produk pembiayaan dan investas yang melibatkan dua pihak: shahib al-maal dan mudharib. Kedua belah pihak bekerjasama untuk mendapatkan keuntungan yang akan dibagikan sesuai dengan nisbah yang telah disepakati di awal akad. Apabila terjadi kerugian finansial, shahib al-maal akan menanggung semuanya, tetapi jika disebabkan oleh kelalaian pengelola modal maka kerugian tersebut harus ditanggung oleh mudharib. Hasil penelitian menunjukkan bahwa dalam akad mudharabah mayoritas bank syariah menerapkan prinsip revenue-sharing yang secara tidak langsung direstui oleh Fatwa DSN 07/2000. Penerapan prinsip ini dapat memicu timbulnya rasa ketidakadilan karena bagi hasil dihitung berdasarkan laba kotor yang lebih menguntungkan pihak shahib al-maal dan kurang menguntungkan bagi mudharib. Kondisi ini membuat nasabah kurang termotivasi untuk memilih bank syariah ketimbang bank konvensional. Dilihat dari perspektif fiqh, bagi hasil dihitung berdasarkan keuntungan bersih sebagaimana diterapkan pada prinsip profit/loss-sharing, yang penerapannya juga direkomendasikan oleh OKI. Pada akhirnya, penyempurnaan pada Fatwa DSN 07/2000 perlu dilakukan untuk memberikan rasa keadilan bagi semua entitas mudharabah: shahib al-maal dan mudharib. [This article was created to discuss the principle of profit-sharing in the mudharabah scheme in Islamic banking and the problems contained therein using descriptive-qualitative methods through library study and literature exploratory. Mudharabah schemes are usually applied to financing and investment products that involve two parties: shahib al-maal and mudharib. Both parties collaborate to get profits which will be shared according to the nisbah agreed at the beginning of the contract. If there is a financial loss, shahib al-maal will bear everything, but if it is caused by the negligence of the capital-user then the loss must be borne by the mudharib. The results showed that in the mudharabah contract, the majority of Islamic banks apply the principle of revenue-sharing which is indirectly blessed by Fatwa DSN 07/2000. The implementation of this principle could trigger a sense of injustice because the profit-sharing is calculated based on gross profit which is more beneficial for the shahib al-maal and less profitable for the mudarib. This condition makes customers less motivated to choose Islamic banks rather than conventional banks. From the perspective of fiqh, profit-sharing is calculated based on net profit as it’s applied to the principle of profit/loss-sharing as well as recommended by the OIC. At the end, improvements to the Fatwa 07/2000, needs to be done to provide a sense of justice for all mudharabah entities: shahib al-maal and mudharib.]

The economic reality of Islamic banks’ transactions: a qualitative inquiry

2020 ◽  
Vol ahead-of-print (ahead-of-print) ◽  
Author(s):  
Bassam Mohammad Maali ◽  
Usama Adnan Fendi ◽  
Muhannad Ahmad Atmeh
Keyword(s):  
Accounting Standards ◽  
Qualitative Inquiry ◽  
Policy Implications ◽  
Islamic Banks ◽  
Content Type ◽  
Regulatory Frameworks ◽  
Economic Reality ◽  
New Perspective ◽  
Conventional Banks ◽  
Islamic Economic

Purpose This paper aims to investigate the economic substance of Islamic banks’ transaction as perceived by the employees and regulators of banks and the effect of such substance on the need for special accounting standards for Islamic banks. If there is a distinctive “Islamic economic substance”, then special accounting practices may be necessary such as the standards of the Accounting and Auditing Organization for Islamic Financial Institutions. Design/methodology/approach A qualitative inquiry on one of the leading Islamic banks in the Middle East was conducted to investigate the economic substance of the bank’s main two transactions; the deposit system and Murabaha financing, as perceived by informants within one of the earliest Islamic banks and its regulators. Findings It is found that despite the belief that the transactions under examination were different from equivalents within conventional banking, practice within the bank was not consistent with such a belief. Informants largely perceived the economic reality of the investigated transaction as being not different from conventional banks’ transactions, and this would affect the need for special accounting and regulatory frameworks. Research limitations/implications This investigation is confined to informants working within one Islamic bank; their views and perceptions may not coincide with those working in other Islamic banks in the world. Practical implications The results of this investigation provide policy implications for Islamic banks, regulators and standards setters in regard to the need for special accounting standards for Islamic banks. Originality/value The paper is one of the first papers that uses a qualitative inquiry on the main transactions of Islamic banks and the related need for special accounting practices. The paper provides a new perspective on the debate over whether Islamic banking is genuinely innovative or is merely a replicate for conventional banking.

scholarly journals Penentuan Porsi dalam Skema Profit-Loss Sharing Investasi Syariah

2017 ◽  
Author(s):  
Novriana Sumarti
Keyword(s):  
Stock Market ◽  
Capital Investment ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Islamic Bank ◽  
Business Units ◽  
Sharing Scheme ◽  
Conventional Banks ◽  
Islamic Economic

AbstrakPerkembangan perbankan syariah marak terjadi di banyak negara, termasuk Indonesia. Bank syariah pertama di Indonesia didirikan pada tahun 1992. Sesuai peraturan Bank Indonesia No 23 Tahun 1999, diperbaiki dalam Peraturan No. 3 Tahun 2004, bank Syariah dan kon- vensional diperbolehkan untuk beroperasi di Indonesia. Sekarang terdapat 11 (sebelas) bank syariah dan sekitar lima puluhan unit usaha dan office channeling dari bank konvensional yang menerapkan sistem syariah. Pada makalah ini, penelitian tentang pasar saham syariah dan perbankan syariah akan dibahas. Salah satu penelitiannya adalah penerapan skema Bagi Untung dan Rugi yang merupakan ciri khas ekonomi syariah dengan menggunakan opti- misasi dalam Matematika. Optimisasi dilakukan untuk mendapatkan porsi bagi untung yang dapat menguntungkan baik bagi pemberi modal investasi maupun penerima modal.Kata kunci: Ekonomi Syariah, Optimisasi, Skema Bagi Hasil Untung dan Rugi. AbstractThe development of Islamic banking is rife in many countries, including Indonesia. The first Islamic bank in Indonesia was established in 1992. According to the regulation of Bank In- donesia No. 23 of 1999, amended in Regulation No. 3 In 2004, both Islamic and conventional banks are allowed to operate in Indonesia. Now there are 11 (eleven) Islamic banks, and about five dozens of business units and office channeling of conventional banks that imple- ment the sharia system. In this paper, the research on the stock market of sharia and Islamic banking will be discussed. One of the studies is the application of Profit - Loss scheme, which is the hallmark of Islamic economic, using optimization in Mathematics. Optimization is done to get a portion of the profit that can be beneficial for both the owner and recipient of capital investment capital.Keywords: Islamic Economics, optimization, Profit-Loss Sharing scheme

scholarly journals KONTRIBUSI MAJELIS ULAMA INDONESIA DALAM PROSES PEMBENTUKAN DAN IMPLEMENTASI UNDANG-UNDANG NOMOR 21 TAHUN 2008 TENTANG PERBANKAN SYARIAH

El Dinar ◽  
2014 ◽  
Vol 1 (02) ◽  
Author(s):  
Faridatus Suhadak ◽  
Eko Priadi
Keyword(s):  
Rapid Development ◽  
Legal Framework ◽  
Assessment Process ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Control Functions ◽  
Islamic Economic ◽  
Regulatory Functions ◽  
And Control

<p>In response to the rapid development of Islamic economic, especially in Islamic banking, hence made Act number 21 Year 2008 on Islamic Banking. Thus, the Act No. 21 year 2008 is a legal framework for the implementation of Islamic Banking in Indonesia. The enactment of Law No. 21 year 2008 is certainly can not be separated from the role of the Indonesian Ulama Council who have contributed substantially in supporting and patronizing Islamic Banking. This study is a normative research with qualitative approach that resulted the role of Indonesian Ulama Council in the formulation Act No. 21 year 2008. First, the involvement of National Shariah Council (DSN - MUI) in the assessment process, deepening and refinement of the substance of the formulation of Islamic Banking. Second, the recommendation and statement issued by the MUI related to the Act Number 21 Year 2008 on Islamic Banking. The MUI’s role in the implementation of Act No. 21 year 2008 on Islamic Banking consists of two functions, i.e. regulatory functions are realized in the form of DSN - MUI fatwas related to Islamic Banking and control functions are realized in the form of DSN - MUI authority to recommend DPS in Islamic banks, give warning to non-compliant Islamic banks and propose to the authority to take action if the warning is ignored. This study recommends the need for effective coordination between the DSN - MUI with other stakeholders regarding fatwas/regulations produced to be implemented well.</p> <p> </p>

scholarly journals KAJIAN LAYANAN PERBANKAN SYARIAH DALAM MENCIPTAKAN KEPUASAN NASABAH PENYIMPAN DALAM UPAYA MENGOPTIMALKAN KONDISI LIKUIDITAS

2019 ◽  
Vol 9 (2) ◽  
pp. 103-114
Author(s):  
Lely Savitri Dewi
Keyword(s):  
Third Party ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Business Unit ◽  
Fund Management ◽  
Short Term ◽  
The Law ◽  
The Republic ◽  
Conventional Banks ◽  
Support Fund

The Birth of the Law of the Republic of Indonesia No. 10 of 1998 concerning Amendments to the Law of the Republic of Indonesia No. 7 of 1992 concerning Banking has provided a huge opportunity for the growth of Islamic banks in Indonesia, both Sharia Commercial Banks and Sharia People's Credit Banks. However, what is unfortunate in this case is that not all people understand and are aware of the ins and outs of Islamic banking practices, so that Islamic banks still have to be vigorous again in conducting socialization and promotion to all people in order to be able to compete with conventional banks in particular who do business development by opening a Sharia Business Unit (SBU). In terms of raising bank funds, banks generally rely on third party funds from customers to support fund distribution activities. Related to this, of course, bank services to customers, especially in fund management activities, must prioritize customer satisfaction so that they are always motivated to deposit their funds in the bank, so that third party fund mobilization is able to compensate for optimal fund distribution which will ultimately improve its liquidity performance through the Finance to Deposits Ratio (FDR). This FDR is used to see how far financing to customers can offset the obligation to immediately meet its short-term debt to customers who want to withdraw their money that has been used by the bank to see the ability and vulnerability of a bank

scholarly journals SIGNIFIKANSI IMPLEMENTASI KONSEP EKONOMI ISLAM DALAM TRANSAKSI BISNIS DI ERA MODERN

2018 ◽  
Vol 4 (1) ◽  
Author(s):  
Toha Andiko
Keyword(s):  
Financial Institutions ◽  
State Government ◽  
Real Sector ◽  
Islamic Banks ◽  
Positive Role ◽  
Communist System ◽  
Economic Underdevelopment ◽  
Conventional Banks ◽  
Islamic Economic

Abstract: The thinking of Islamic economics in Indonesia today, is still limited to the theme of banking or financial institutions. The lack of development of Islamic economic concepts is still happening in terms of macro and microeconomics as well as systems in Islamic statistics and accounting. Implementation of Islamic economic system is expected to serve as a guide in state government, in building a prosperous society both materially and spiritually. In addition, Shariabased Islamic economics is expected to be a solution to economic underdevelopment, and to change the dominant capitalist and communist system over the years. Islamic economics is believed to save people morality from materialismhedonism, and can unite Muslims to jointly achieve falah (prosperity) in general. The significance of sharia-based Islamic economics is evident in the sharia bank’s increasingly potential business offering services compared to conventional banks. Implementation of Islamic economics on muamalah activities can also be felt in the positive role of Islamic banks and on-bank syariah financial institutions that encourage the development of the real sector, this can be seen from the start of increasing the portion of the contract for the results of mudharabah and musyarakah and other transactions.

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