scholarly journals Penerapan Model Profit-Loss Sharing untuk Investasi Modal Kecil

2020 ◽  
Vol 6 (1) ◽  
pp. 1-5
Author(s):  
Seftina Diyah Miasary

Islamic finance is a financial concept based on Islamic sharia. The underlying principle of Islamic finance is the prohibition of usury, gharar and masyir. In addition to these principles, the concept of Islamic finance which is built on the basis of justice makes many people tend to choose Islamic finance rather than conventional. In this article, we will discuss the Sharia investment model with a profit-loss sharing scheme as an alternative model to replace the practice of lending money at high interest by moneylenders in traditional markets (Rentenir scheme). Both models are applied in a lending transaction between traders and investors with a share of the results in the profit-loss sharing model of 5% and interest on loan repayments for the loan sharks of 20%. Furthermore, from each model the acquisition value is calculated in the form of the optimal portion / profit ratio for each trader and investor. The results obtained indicate that the earnings obtained by traders for the Sharia model are greater than those from the Rentenir model. Furthermore, the acquisition value of investors for the Sharia model is minus and the acquisition value of investors from the Rentenir model is 25.56%. The acquisition value of investors from the Rentenir model is very high, while in the Sharia model, investors experience losses. From these two parameters it can be concluded that the Sharia model with a profit sharing scheme is a model that benefits small traders, while the Rentenir model is a model that needs to be avoided because it is detrimental to traders and also uses the concept of usury which is forbidden in Islam.

2017 ◽  
Vol 1 (1) ◽  
pp. 122
Author(s):  
Wahyuning Murniati

Profit and loss sharing model is one form of investment scheme is considerated Islamic finance. The borrower of the investment fund and investors should be in a fair sharing of both profit and losses earned in the investment process. The model used in this paper is the modification of previous research in which the investor gives an investment fund to some low-income traders in tradisional market. The traders will give back the fund with some portion of profit if the financial condition is good. That is the profit sharing scheme. In order to define loss sharing explicitly, in this paper we add tabarru’ fund in the model by applying the principle of net insurance premiums. Tabarru’ fund is collection funds of the trader and when loss occurs, the trader will get the fund back as a benefit. Futhermore, this model is implemented in the daily net profit of a tradisional market trader in Bandung on variation of capital and period investment. From the result, it can be concluded that the application of tabarru’ fund provide higher profit more than previous model.


1991 ◽  
Vol 8 (1) ◽  
pp. 109-127
Author(s):  
Zaidi Sattar

The present paper is a contribution to the building blocks of an investmentmodel within the framework of an integrated macroeconomic model of anIslamic economy. Investment behavior in the model is guided by an Islamicethicalvalue system and profit-sharing financial contracts. The typical firm’sinvestment decision is believed to emerge from a dynamic inter-temporalmaximization exercise within an infinite time horizon. The method of Calculusof Variations is applied to arrive at the optimal investment and employmentcriteria for the firm. The result is then incorporated into a macroeconomicmodel to study the behavior of key endogenous variables like national incomeand the rate of profit-share. Comparative statics exercised within a generalequilibrium framework reveal the potency of monetary policy but the neutralityof fiscal policy with respect to output and employment.IntroductionThe past decade has witnessed a tremendous outpouring of interest aswell as effort in the formalization of economic models based on profit-sharingfinancial arrangements as an Islamic alternative to the conventional interestbasedeconomic system. Several macroeconomic models for interest-freeeconomies have been proposed (Anwar 1987; Habibi 1987; Metwally 1981& 1983). The rigor of an integrated approach to such macroeconomic modelhgdepends on the rigor of the component models, namely, the consumption,investment, monetary, and fiscal relationships. Economists have writtenextensively on different aspects of consumer behavior in Islamic societies.Kahf (1978) and Khan (1984), among others, have contributed to the conceptualand analytical formulation of the consumption function under ...


2019 ◽  
Vol 8 (1) ◽  
pp. 1-13
Author(s):  
Mohammad Farhan Qudratullah

Treynor Ratio merupakan model pioner inovatif ukuran kinerja saham yang dikemukakan Jack Treynor pada tahun 1965 yang terdiri atas 3 (tiga) komponen, yaitu return saham, return bebas risiko, dan beta saham. Banyak penelitian mendekati return bebas risiko dengan suku bunga termasuk saat mengukur kinerja saham syariah, sedangkan suku bunga dilarang dalam konsep keuangan islam. Tulisan ini membahas variabel alternatif untuk mendekati return bebas risiko selain dengan suku bunga (BI-Rate), yaitu dengan 4 (empat) pendekatan, yaitu: menghilangkan suku bunga, mengganti dengan zakat rate, mengganti dengan inflasi, dan mengganti dengan gross domestic produc (GDP) pada model Treynor Ratio yang diimplementasikan pada pasar modal syariah di Indonesia periode Januari 2011-Juli 2018. Hasil yang diperoleh adalah terdapat kesesuaian yang sangat tinggi hasil pengukuran model Treynor Ratio dengan suku bunga dengan keempat model lainnya. Namun, model-model tersebut tidak menjamin bahwa saham yang memilki kinerja terbaik pada saat ini akan memilki kinerja terbaik dimasa yang akan datang atau sebaliknya. Dilihat dari kedekatan hasil pengukuran kinerjanya, kelima model Treynor Ratio tersebut dapat dikelompokan jadi 2 (dua), yaitu model dengan suku bunga, model dengan inflasi, dan model dengan GDP sebagai kelompok pertama, sedangkan model tanpa suku bunga dan model dengan zakat-rate sebagai kelompok kedua. [Treynor Ratio is an innovative pioneer model the size of stock performance proposed by Jack Treynor in 1965 which consists of 3 (three) components, namely stock returns, risk free returns, and stock beta. Many studies approach risk-free returns with interest rates, including when measuring the performance of Islamic stocks, while interest rates are prohibited in the concept of Islamic finance. This paper discusses alternative variables to approach risk-free returns other than interest rates (BI-Rate), namely with 4 (four) approaches, namely: eliminating interest rates, changing zakat rates, changing inflation, and substituting gross domestic products (GDP) in the Treynor Ratio model that is implemented in the Islamic capital market in Indonesia for the period January 2011 - July 2018. The results obtained are very high conformity in the measurement results of the Treynor Ratio model with interest rates with the other four models. However, these models do not guarantee that stocks that have the best performance at this time will have the best performance in the future or vice versa. Judging from the closeness of the results of performance measurement, the five Treynor Ratio models can be grouped into 2 (two), namely models with interest rates, models with inflation, and models with GDP as the first group, while models without interest rates and models with zakat-rate as second group.]


1992 ◽  
Vol 25 (12) ◽  
pp. 93-103 ◽  
Author(s):  
M. Pommepuy ◽  
J. F. Guillaud ◽  
E. Dupray ◽  
A. Derrien ◽  
F. Le Guyader ◽  
...  

In order to improve bacterial water quality of shellfish farming areas, studies were conducted in the English Channel (Morlaix) and on the Mediterranean coast (Toulon). These two areas were chosen in order to compare behaviour of fecal bacteria in two different ecosystems. In the estuary of Morlaix sediments are polluted by way of settlement, but most of the bacteria are mixed with turbid waters and are able to survive a very long time (T90 are in a range of several hours to several days). By measuring the increase in salt tolerance of the strains grown in natural organic matter, it was demonstrated that Salmonella can tolerate coastal water salinities. Moreover, because light penetration is prevented by suspended matter, the solar bactericidal effect is very low. On the contrary, through lack of nutrients and very high sunlight intensity, die-off rates in Mediterranean waters are very high (at the surface T90 are less than 2 hours, and several hours in deep waters). A close relationship was found between the light intensity received by bacteria and the T90. Predicted T90 must be found using these two parameters(including turbidity and deep effect on light intensity). The authors suggest that precautions must be taken to carry out impact studies depending on water quality of the area, especially in turbid areas. The knowledge of these mechanisms is very important to evaluate waste water impact on the quality of shellfish farming areas, and to improve elimination of fccal bacteria in sewage treatment plants.


2012 ◽  
Vol 149 (6) ◽  
pp. 1065-1076 ◽  
Author(s):  
AVINOAM RABINOVITCH ◽  
DOV BAHAT ◽  
REVITAL GREENBERG

AbstractWe show that spacing statistics can be obtained for all fracture densities by the same equation. Using the simple ‘shear lag’ theory, it is demonstrated that the results adequately fit experimental measurements. Theoretically, it is shown that two parameters are sufficient to characterize all spacing distributions. It is found that no real spacing saturation exists. Rather, a very low increase in joint densities occurs for a very high incremental stress increase. Moreover the transition to this kind of saturation is gradual and not abrupt. In this way the high density distributions with very small inter-joint distances, which pose a problem for saturation models, are directly explained. Correlation with creep experiments is also established. Comparison of our method with Weibull statistics is performed.


2020 ◽  
Vol 11 (1) ◽  
pp. 56
Author(s):  
Lilis Setyowati ◽  
Edi Purwanto ◽  
Nurmala Agustin Ningtyas

Introduction: Fish is one of the sources of animal protein that many people look for because it is readily available and affordable. Nowadays, found in many traditional markets of traders, fish managers use formalin to preserve their wares. Objective: The purpose of this study was to determine differences in levels of boiled and fresh fish in TPI Tulungagung. Design quantitative analytic research studies cross-sectional. Quantitative formalin test with Formalin Kit returns UV-Vis spectrophotometer in the Biomedical Laboratory FK UMM, and Mann-Whitney test. The study population of fresh and boiled fish taken from 3 TPI in Tulungagung. The sampling technique was random sampling, each with four samples. Result: The results showed that the average value of formalin in boiled fish was 1.63 mg / ℓ and fresh 4.54 mg / ℓ. There was a significant difference in formalin levels in boiled fish and fresh fish (p) <0.001. The samples from TPI Tulungagung contaminated formalin. However, the content of formalin in fresh fish is higher than boiled fish. It is very high from the BPOM standard. Discussion: The public is more concerned with the abuses committed, especially the use of formalin in circulation.


2019 ◽  
Vol 32 (2) ◽  
pp. 161-177
Author(s):  
Shafiu Ibrahim Abdullahi Shafiu Ibrahim Abdullahi

This paper looks at environmental conservation within the growing understanding of the urgent need to confront the two menaces of desertification and deforestation through afforestation schemes in the Organization of Islamic Cooperation (OIC) member countries. Deforestation is one of the main contributors to global greenhouse gas emissions, ecosystem degradation, and from there the rising cases of poverty in the developing world. Their impacts on the economy and environment of OIC member countries has been devastating. Desertification and deforestation are caused by human activities like logging, harmful farming practices, as well as haphazard cutting of trees in order to make way for city buildings and farms. The paper shows that poor handling of past responses to desertification problems can be solved with the right approaches. It first looks at existing approaches to the problem and causes of their failure. Then, it proposes an alternative model based on fiqh teachings and recent developments in Islamic economics and finance. The paper syntheses conventional and Islamic approaches towards solving the problems of desertification, deforestation, and rising temperatures in the OIC countries. It delineates specific functions and contributions of each one of (a) the Islamic state, (b) the institution of waqf, (c) Islamic finance, and (d) the Islamic firm.


2020 ◽  
Vol 13 (1) ◽  
pp. 107
Author(s):  
Mohammad Farhan Qudratullah

<p>There are three models commonly used to measure the performance of Islamicstocks, named Treynor Ratio, Sharpe Ratio, and Jansen Index. One component of the three models is risk-free returns which are usually approached with interest rates, whereas interest rates are prohibited in the concept of Islamic finance. This paper will approach a risk-free return with zakat-rate on the Islamic capital market in Indonesia from January 2011 - July 2018, then compare it with a model that uses interest rates. The results obtained by the model with interest rates and zakah-rate in this third model have very high suitability values, so that zakah-rate can be used as an alternative substitute for interest rates in measuring the Islamic stock performance. Beside not contradicting the concept of Islamic economics, calculation of models with zakah-rate is simpler than models with interest rates.</p>


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