scholarly journals Islamic Monetary Instruments Contribution to Economic Growth: Literature Study

2021 ◽  
Vol 22 (2) ◽  
pp. 42-51
Author(s):  
Juliana Nasution ◽  
Andri Soemitra ◽  
Rifki Ismal ◽  
Amin Al Jawi ◽  
M.Indra Mulia Nasution ◽  
...  
Keyword(s):  
Economic Growth ◽  
Economic Justice ◽  
Qualitative Approach ◽  
Islamic Banking ◽  
Real Sector ◽  
Literature Study ◽  
Equitable Distribution ◽  
Business World ◽  
The Real ◽  
Distribution Of Income

In Islamic economics, the monetary sector and the real sector must be able to go side by side. Even the monetary sector must follow developments for the real sector. The goal of Islamic economics is the creation of economic justice through equitable distribution of income, one of which is seen from the growth of the real sector, which is a representation of the level of productivity and welfare of the community. This is directly related to the business world. Therefore, when the level of community productivity increases, it will aggregately affect economic growth. On the other hand, one of the monetary instruments in Islamic economics is Islamic banking. This means that the increasing performance of Islamic banking must be in line with the increase of the real sector. The purpose of this study is to analyze the contribution of increasing Islamic banking performance to economic growth through a literature study related to a qualitative approach, where the collected literature is analyzed by content analysis and the data is triangulated to make a conclusion. The findings of this study indicate that Islamic monetary instruments in the Islamic banking case contribute to economic growth through an increase from the real sector

scholarly journals Peranan Al-Mudharabah Sebagai Salah Satu Produk Perbankan Syariah Dalam Upaya Mengentaskan Kemiskinan Di Indonesia

2012 ◽  
Vol 8 (2) ◽  
Author(s):  
Dwi Agung Nugroho Arianto
Keyword(s):  
Economic Growth ◽  
Basic Principle ◽  
Small And Medium Enterprises ◽  
Profit Sharing ◽  
Islamic Banking ◽  
Real Sector ◽  
Islamic Banks ◽  
Small Community ◽  
The Real ◽  
Medium Enterprises

One of the fight against poverty can be done by expanding access to Micro, Small and Medium Enterprises (UMKM) in obtaining such capital facilities through Islamic banking. Based on the basic principle of its products, Islamic banks have the financing to the principle of profit sharing, which developed the product mudharabah. This financing is productive because the capital invested for the supply of labor so as to empower the economy through small community of Micro, Small and Medium Enterprises (UMKM). By developing micro, small and medium enterprises it will help create jobs and economic growth in the real sector, thus keeping down unemployment and poverty in Indonesia.

Reducing the Risks of the Financial Sector to Ensure Sustainable Growth of the Russian Еconomy

2019 ◽  
Vol 12 (3) ◽  
pp. 86-92
Author(s):  
T. I. Minina ◽  
V. V. Skalkin
Keyword(s):  
Economic Growth ◽  
Monetary Policy ◽  
Financial Sector ◽  
Developed Countries ◽  
Sustainable Growth ◽  
Necessary Condition ◽  
Real Sector ◽  
Financial Instruments ◽  
The Real ◽  
The Impact

Russia’s entry into the top five economies of the world depends, among other things, on the development of the financial sector, being a necessary condition for the economic growth of a developed macroeconomic and macro-financial system. The financial sector represents a system of relationships for the effective collection and distribution of economic resources, their deployment according to public demand, reducing the risk of overproduction and overheating of the economy.Therefore, the subject of the research is the financial sector of the Russian economy.The purpose of the research was to formulate an approach to alleviating the risks of increasing financial costs in the real sector of the economy by reducing the impact of endogenous risks expressed as financial asset “bubbles” using the experience of developed countries in the monetary policy.The paper analyzes a macroeconomic model applied to the financial sector. It is established that the economic growth is determined by the growth and, more important, the qualitative development of the financial sector, which leads to two phenomena: overproduction in the real sector and an increase in asset prices in the financial sector, with a debt load in both the real and financial sectors. This results in decreasing the interest rate of the mega-regulator to near-zero values. In this case, since the mechanisms of the conventional monetary policy do not work, the unconventional monetary policy is used when the mega-regulator buys out derivative financial instruments from systemically important institutions. As a conclusion, given deflationally low rates, it is proposed that the megaregulator should issue its own derivative financial instruments and place them in the financial market.

scholarly journals MISI PAK DALAM TRANSFORMASI INJIL PADA REMAJA KRISTEN YANG TERPENGARUH PERGAULAN BEBAS DAN MELUPAKAN IBADAH TERKUSUS PADA REMAJA DI “ REMBON”

2020 ◽  
Author(s):  
FERY KOTOK
Keyword(s):  
Free Association ◽  
Qualitative Approach ◽  
Modern World ◽  
Study Analysis ◽  
Literature Study ◽  
The Real ◽  
Knowing How ◽  
Interactive Analysis

In the development of the modern world, promiscuity of promiscuity with Christian teenagers. Free association is a problem that occurs in society, especially in Rembon, which causes Christian youth to move away from fellowship. The Transformation of the Gospel is very helpful for Christian youth in applying the real Christian youth lifestyle. This writing focuses on knowing how to transform the gospel into Christian youth and to reduce Christian youth who are involved in promiscuity. The approach taken is a qualitative approach involving literature study. Analysis was carried out by interactive analysis. This research shows that the transformation of the gospel can have an impact on Christian youth.

scholarly journals Financial system and growth and economic development

VUZF Review ◽  
2021 ◽  
Vol 6 (2) ◽  
pp. 160-170
Author(s):  
Małgorzata Hala
Keyword(s):  
Economic Growth ◽  
Economic System ◽  
Financial Institutions ◽  
Financial System ◽  
Financial Sector ◽  
Real Sector ◽  
The Real ◽  
State And Local ◽  
The Impact

The aim of the article is to present the role of the financial system in economic growth and development. The first part presents the traditional understanding of the relationship between the economic system and economic growth. The second part presents the experience of financial crises and their impact on the conversation on the mutual relations between the financial sector and the real sector. The third part shows the role of the state in the financial system. The article describes the arrangement of interrelated financial institutions, financial markets and elements of the financial system infrastructure.  It shows what part of the economic system the financial system is, and whether it enables the provision of services allowing the circulation of purchasing power throughout the economy. The article presents the important role of the financial system, the role related to the transfer of capital from entities with savings to entities that need capital for investments. It shows the financial system as a set of logically related organizational forms, legal acts, financial institutions and other elements enabling entities to establish financial relations in the real sector and the financial sector, and this system forms the basis of activity for entities using money, enabling the conclusion of various economic transactions, in which money performs various functions. The article also presents the concept of a financial crisis as a situation in which there are rapid changes in the financial market, usually associated with insufficient liquidity or insolvency of banks or financial institutions, and as a result, a decrease in production or its deepening. The article also includes issues related to the impact of public authorities (state and local authorities) on the financial system in the economy.

scholarly journals Economic Justice and Judicial Structure

2020 ◽  
Vol 2 (1) ◽  
pp. 25-34
Author(s):  
Olalekan Moyosore Lalude ◽  
Ayodeji Fatehinse
Keyword(s):  
Economic Growth ◽  
Content Analysis ◽  
Rule Of Law ◽  
Economic Justice ◽  
Developing Nations ◽  
Qualitative Approach ◽  
Judicial System ◽  
The Rule Of Law ◽  
Economic Goods ◽  
Effective Distribution

Economic justice is the expression of the effective distribution of economic goods. This could be realized through judicial mechanisms.   Effective judicial systems are the platform on which economic justice can be actualized. There is a positive connection between economic justice and an effective judicial system, and this is usually measured by the rule of law and the level of its regard.  The paper argued that one of the established dysfunctional characteristics of developing nations is the failure of their judicial system to deliver economic justice and the inability of the state to coordinate the integrity of its institutions. This paper employed a qualitative approach in its exploration of the issues. It engaged content analysis in the processing of the arguments it advanced. The paper argued that the resolution of economic justice and other institutional considerations could help in economic growth, especially in Nigeria. The paper concluded by suggesting that judicial structure must be strengthened in order to derive the capacity needed to realize economic justice in Nigeria.

Financial Inclusiveness in Islamic Banking in Pakistan: A Comparison of Ideas and Practices

2018 ◽  
Vol 15 (1) ◽  
pp. 39-54
Author(s):  
Salman Ahmed Shaikh
Keyword(s):  
Financial Intermediation ◽  
Small And Medium Enterprises ◽  
Cost Effective ◽  
Poor People ◽  
Islamic Banking ◽  
Islamic Banks ◽  
Equitable Distribution ◽  
Medium Enterprises ◽  
Quantitative Indicators ◽  
Distribution Of Income

This study attempts to document the progress in Islamic banking industry of Pakistan towards fostering an egalitarian and equitable financial intermediation. It evaluates the progress of Islamic banking in enhancing socio-economic mobility, financial inclusiveness and fostering equitable distribution of income. This study uses a set of quantitative indicators to objectively assess the performance of Islamic banks towards fostering a participative, inclusive, cost-effective and real sector oriented financial intermediation. The results highlight that currently, the performance of Islamic banks on these fronts leaves much to be desired. This study highlights that high average cost of financing and limited focus on agriculture and small and medium enterprises requires improvement to achieve the goal of circulation of wealth and equitable distribution of income. It also identifies that various categories of poor people who need finance for their health, education and small business working capital needs cannot be served by Islamic banks by using the available product structures. This study gives a geographical presence of Islamic banks which shows that they are mainly based in big urban cities. It argues that most of the Islamic banking debt-based products are close, but relatively expensive substitutes. The study will help the industry to review its performance in contributing towards financial inclusiveness, social mobility, need fulfillment and equitable income distribution.

scholarly journals Penyuluhan Teknik Pembukuan Sederhana Dan Aspek Permodalan PKBL Bagi UKM Cluster Tepung Tapioka, Kabupaten Bogor

2019 ◽  
Vol 1 (1) ◽  
pp. 28-32
Author(s):  
Iha Haryani H ◽  
Ahmad Djamil
Keyword(s):  
Economic Growth ◽  
Community Development ◽  
Community Service ◽  
Small And Medium Enterprises ◽  
Development Program ◽  
Business Service ◽  
Equitable Distribution ◽  
Tapioca Flour ◽  
Medium Enterprises ◽  
Distribution Of Income

Micro, small and medium enterprises (MSMEs) are one of the cornerstones of the Indonesian economy. UMKM has been recognized as very strategic and important not only for economic growth, but also for equitable distribution of income because of its very important role. Indonesia pays special attention to the development of MSMEs by facilitating and providing access to productive resources. Community Service conducted by the Faculty of Economic and Business Service Team is to conduct counseling for the Bogor Regency tapioca flour cluster SMEs, namely regarding simple bookkeeping techniques and capital aspects of the Partnership and Community Development program in collaboration with BNI bank.

scholarly journals SUKUK AND ISLAMIC BANKING FINANCING : HOW THE IMPACT FOR REAL SECTOR ?

2021 ◽  
Vol 7 (4) ◽  
Author(s):  
Budi Trianto ◽  
Masrizal Masrizal
Keyword(s):  
Vital Role ◽  
Islamic Finance ◽  
Islamic Banking ◽  
Real Sector ◽  
Industrial Output ◽  
Monthly Data ◽  
The Real ◽  
Long Run ◽  
The Right ◽  
The Impact

Indonesia continues to strive to develop Islamic finance especially its Islamic banking and sukuk to support the real sector. The growth of Islamic finance in Indonesia is expected to encourage the development of the national economy. This study aims to investigate the impact of Islamic banking financing and sukuk financing on Indonesia’s industrial output. Applying the Autoregressive Distributed Lags (ARDL) framework to monthly data from January 2011 to December 2018, we find   Islamic bank financing to contribute positively to the real sector  in both the long and short term. In addition, we also document positive long run contribution of sukuk financing to industrial output . Indeed, over the long run, sukuk financing tends to have a greater real impact than Islamic banking financing. The results of the study implies that Islamic banking and sukuk play a vital role in supporting the real sector in Indonesia.  Accordingly, recent initiatives by Indonesia to further develop its Islamic finance are steps in the right direction.  

scholarly journals KONSEP RIBA DALAM AL-QUR’AN

2016 ◽  
Vol 7 (1) ◽  
pp. 1
Author(s):  
Abdul Ghofur
Keyword(s):  
Economic Growth ◽  
Financial Institutions ◽  
The Other ◽  
Real Sector ◽  
Economic Activities ◽  
The Real ◽  
The Public ◽  
World Community ◽  
Major Disadvantage ◽  
Money Manager

Riba is an economic activity that is prohibited by the Qur’an. Chronologically, the ban has been outlined clearly. On the other hand, bank interest that become one pillar of the existence of financial institutions is rated synonymous with usury. Financial institutions have become a pillar of economic growth. The problem is why the Qur’an forbids usury, whereas various economic activities ‘need’ the existence of interest that are identical to the usury. This study found two findings. First, the prohibition of riba in the Qur’an have preceded other forms of restrictions are more morally intolerable that broadly impacts a major disadvantage in the community. On the other side of the Qur’an strongly encourages the public Makkah to help the poor and orphans around him. Second, the prohibition of riba in the Qur’an has relevance to the real sector of the economy. Therefore, the economy based on usury will naturally ignore the underlying transaction which is the basis of the real sector. As a result of the investors (capitalists) certainly fortunate while the money manager/entrepreneur is still no clarity, so that the position is unbalanced, unjust. The usurious economic system can lead to gaps world community economic growth constantly.

scholarly journals Determinant of Private Sector Credit and Its Implication on Economic Growth in Nigeria: 2000-2017

2019 ◽  
Vol 5 (1) ◽  
pp. 10-20
Author(s):  
Olorunmade Gbenga ◽  
Samuel Olusegun James ◽  
Adewole Joseph Adeyinka
Keyword(s):  
Economic Growth ◽  
Gross Domestic Product ◽  
Private Sector ◽  
Money Supply ◽  
Significant Relationship ◽  
Domestic Product ◽  
Total Output ◽  
Growth Equation ◽  
Real Sector ◽  
The Real

The study examined the determinant of private sector credit and its implication on economic growth in Nigeria. The fluctuation in the supply of money and credit is the basic causal factor at work in cyclical process; when money supply falls, prices decrease, profit decrease, production activities become sluggish and production falls and when money supply expands, price rise, profit increase and the total output increases and finally growth takes place. The main objective of this study is to examine the relationship between Private Sector Credit and Gross Domestic Product. Data were obtained from Central Bank of Nigeria statistical bulletin. Simple regression analysis was used to achieve the stated objective. It was revealed in the determinant of credit supply equation 1 that there was significant relationship between Total credits to private sector and money supply in Nigeria. It was also discovered in the Private Sector Credit and Economic Growth Equation 2 that there was significant relationship between private sector credit and economic growth in Nigeria. The study therefore recommends that there should be persistence increase of money supply to Nigerian economy in order to increase the flow of credit to the real sector of the Nigerian economy, financial institutions should distribute more credit to the real sector for productive purposes in order to increase Gross domestic product.

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