scholarly journals Savings Investments in Sharia Banks in the Perspective of Shariah Economic Law (Case Study at “Bank Syariah Bukopin”)

2018 ◽  
Vol 1 (2) ◽  
pp. 63-80
Author(s):  
Agus Rojak Samsudin ◽  
Mohamad Anton Athoillah
Keyword(s):  
Storage System ◽  
Case Examples ◽  
Economic Law ◽  
Conventional Banks ◽  
Islamic Economic ◽  
Conventional Bank

There are three motives a person to save funds through savings in the Conventional Bank: security, plans and investment. Implementation of interest system in Conventional banks is a very fundamental constraint for a Muslim to invest his funds in the bank. Because in the view of the scholars of the flower system is identical with the usury (riba) that is forbidden in Islam. It turns out long before the birth of money storage system in conventional bank interest, in classical fiqh literature known the concept and theory of al wadiah and mudharabah which is substantially no differences from the savings and investment savings offered by conventional banks. This paper discusses the theory, concepts and implementation of al wadiah as non-interest investment savings applied in sharia bank in the perspective of shariah economic law, by looking at case examples of the saving products of Bank Syariah Bukopin (BSB). It was found that all investment contracts in savings products offered by BSB were in accordance with the principles of shariah; as outlined in the Qur'an and Sunnah as the basis of Shariah, as well as Law Number 21 Year 2008 and Law no. 10 year 1998, Bank Indonesia Regulation (Peraturan Bank Indonesia [PBI]), Compilation of Islamic Economic Law (Kompilasi Hukum Ekonomi Syariah [KHES]) and Fatwa of National Sharia Board (Dewan Syariah Indonesia [DSN]) Indonesian Council of Ulama (Majelis Ulama Indonesia [MUI])

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 The Use Of Conventional Banks By Sharia Economic Law Students: Practice, Factors, And Laws

2021 ◽  
Vol 7 (2) ◽  
pp. 36-44
Author(s):  
Dzaky Adam Thamrin ◽  
Fauzul Hanif Noor Athief
Keyword(s):  
Data Analysis ◽  
Data Collection ◽  
Qualitative Study ◽  
Islamic Law ◽  
Study Data ◽  
Law Students ◽  
Economic Law ◽  
Interview Methods ◽  
Conventional Banks ◽  
Islamic Economic

This study aims to reveal the factors and reasons behind the large number of Islamic Economic Law students using conventional banks which are then analysed with an Islamic law approach.The method used in this study is descriptive quantitative and qualitative study. Data collection by survey and interview methods. The data analysis used descriptive and deductive analysis approach.The results of this study found that most students use conventional banks, although half of them are aware of the concern of usury on interest. Nevertheless, in practice, only a small percentage of them separate bank interest from their savings. The majority of the reasons they use conventional banks are based on facilities, family and work. Under Islamic law, the use of conventional banks is haram, although there are cases where it is permissible under Islamic law.

scholarly journals Implementation of Qawa'id Al-Fiqhiyyah Mazhab Hambali in Islamic Economic

2021 ◽  
Vol 6 (1) ◽  
pp. 61
Author(s):  
Hendrianto Hendrianto ◽  
Hasan Bisri
Keyword(s):  
Data Analysis ◽  
Data Collection ◽  
Economic Law ◽  
Modern Economy ◽  
Library Research ◽  
Islamic Economic ◽  
Method Approach

Purpose: This research aims to provide knowledge about qawa'id al-fiqhiyyah Hambali sect thought and its application in sharia economic law seen of the four popular rules of jurisprudenceDesign/Method/Approach: This research is library research, using documentation data collection techniques, and data analysis using content analysisFindings: Results showed that qawaid fiqiyyah dissect Hambali's for bidden right speed before the time, over the main push of the lift, badal (substitute) is positioned mubdal (replaced), and the latter considered common practice, while rare, and there is no law to him. The fourth method is able to address the problem Kulli (general), and in particular the problems of legal jurisprudence of Islam among the modern economy, which in this case study can not be separated from AL Quran and Hadits.Originality/Values: The main contribution of this research is to fill the gap in how the implementation of qawa'id al-fiqhiyyah mazhab hambali in Islamic economic law.

scholarly journals Design and Development of Credit Scoring Model for Conventional Banks for Individual Borrowing Case Study on PT BPR Sungai Puar District Agam

2018 ◽  
Vol 1 (1) ◽  
pp. 43-56
Author(s):  
Rio Hendriadi ◽  
Anne Putri ◽  
Dona Amelia ◽  
Rany Syafrina
Keyword(s):  
Logistic Regression ◽  
Discriminant Analysis ◽  
Credit Risk ◽  
Credit Scoring ◽  
Scoring Model ◽  
Secondary Sources ◽  
Conventional Banks ◽  
Credit Scoring Model ◽  
Conventional Bank

Objective – This research is conducted to design and to develop credit scoring model on conventional bank in order to determine individual loan, the research takes place in PT BPR Sungai Puar, Kabupaten Agam. This model tries to evaluate the credit risk of BPR Sungai Puar.Design/methodology – The data are considered as secondary sources as they are taken from BPR Sungai Puar database by classifying them into two analysis tools including discriminant analysis and logistic regression. Results – The resuts are presentes inform of model and credit scoring perfection on PT BPR Sungai Puar Kabupaten Agam.Keywords Credit Scoring Model, Conventional Banks, Individual Loan

scholarly journals POLITICAL CONFIGURATION AND THE DEVELOPMENT OF ISLAMIC ECONOMIC LAW IN INDONESIA DURING THE NEW ORDER AND REFORMATION ERA

2021 ◽  
Vol 18 (1) ◽  
pp. 135-166
Author(s):  
Bambang Iswanto
Keyword(s):  
Political Elite ◽  
The Political ◽  
New Order ◽  
Economic Law ◽  
Legal Control ◽  
The Reformation ◽  
Political Configuration ◽  
Conventional Banks ◽  
Islamic Economic ◽  
Different Characteristics

This article aims to comparatively view the political configuration in Indonesia in the New Order and the Reformation era related to the formation of law in Islamic economics. Recently, Islamic economics has become an issue that has attracted the interest of scholars and economic practitioners as it is the potential to become a large industry. Legal products and several policies were born as evidence of the development of Islamic economic law in Indonesia, such as the Halal Product Guarantee Act, the ratification of Government Regulations regarding the implementation of halal product guarantees, to the merger of conventional banks into shari'ah Banks. These phenomena show that the political configuration in the Reformation era is fertile ground for economic development. Then, what about the Political Configuration in the New Order era? This article is a legal study using historical and political approaches strengthened by legal political theories. The study found that there are different characteristics of Islamic economic law between authoritarian and democratic political configurations. This article emphasizes that the character of Islamic economic law in the New Order era tends to be orthodox; legal control was tightly held by the political elite and must be followed by the community (top-down). Meanwhile, the Reformation era brought the direction of Islamic economic law to responsive legal characteristics. The society holds legal control by making the elites as policymakers for the development of Islamic economic law (bottom-up).

scholarly journals The Transaction of Damaged Cash Exchange in the Perspective of Islamic Economic Law (Case Study in Medan City)

2021 ◽  
Vol 3 (1) ◽  
pp. 93-104
Author(s):  
Suhendri Irandi
Keyword(s):  
Application Of Law ◽  
Paper Money ◽  
Economic Law ◽  
Currency Exchange ◽  
Board Of Governors ◽  
The Republic ◽  
Islamic Economic ◽  
The City ◽  
Exchange Transactions

From the discussion of damaged cash exchange transactions carried out by corrupted money collectors in the city of Medan, the author can draw several conclusions, as follows: Currency transactions that are unfit for circulation that occur in the city of Medan are closely related to the concept of the sharf contract in the perspective of Islamic economic law. This is, if we look at it from the object being transacted, namely currency, even though the money is money which is not fit for circulation. In this transaction, the terms and conditions in the sharf contract concept must be fulfilled in it. The application of Law of the Republic of Indonesia Number 7 of 2011 concerning Money Changes in the community has been running, but is still not optimal. This is because there are still many people who do not know or do not understand how to exchange their damaged cash. Most people feel that the damaged cash they have is no longer sold to be spent. In fact, based on the Regulation of Members of the Board of Governors Number 19/13 / PDADG / 2017 concerning Rupiah Currency Exchange, it explains the procedure for exchanging money that is not fit for circulation. In the perspective of Islamic economic law, the practice of changing corrupted money by the corrupt money-seeking community is divided into three opinions. One opinion says, it is legally forbidden'. This opinion argues that the laws that apply to paper money also apply to gold and silver. There are two requirements in the sale and purchase of gold with gold or silver and silver, namely: the same weights and cash in one agreement. Meanwhile, the second opinion is allowed even though there is a difference in the nominal value. Another case is the third opinion which first sees the public's attitude towards money unfit for circulation.

Dari Idealisme ke Pragmatisme: Pergeseran Paradigma dalam Pengembangan Hukum Ekonomi Syariah di Indonesia

2020 ◽  
Vol 14 (2) ◽  
pp. 191-210
Author(s):  
Addiarrahman Addiarrahman ◽  
Illy Yanti
Keyword(s):  
Focus Group ◽  
Focus Group Discussions ◽  
Group Discussions ◽  
Business World ◽  
Key Informants ◽  
The Public ◽  
Financial Products ◽  
Legal Consideration ◽  
Economic Law ◽  
Islamic Economic

This study seeks to understand the pragmatism of the development of sharia economic law, and its implications for Islamic financial products in Indonesia. The data comes from the results of interviews and focus group discussions with key informants from academics, practitioners, authorities, and the public. This research finds that pragmatism in the development of Islamic economic law is an approach that still dominates the DSN-MUI fatwas. The pragmatism style used is complex-eclectic pragmatism which is represented through makhārij al-fiqhiyyah, which is to choose a mild opinion by sticking to the strongest method or also called "taysīr al-manhajī". The use of this method is intended to ensure that the fatwa is truly able to answer the needs of the business world, as well as being in line with sharia principles. DSN-MUI also does not use maslahah as a legal consideration in a free or liberal way. Rather, it returns maslahah in consideration of the method, so that it is permissible to use the bay’ al-'inān contract only in a forced state (ḍarurah).

Comparative Study Of Islamic Economic Law And The Capitalist

2018 ◽  
Vol 16 (2) ◽  
pp. 104
Author(s):  
Tesa Mellina ◽  
Mohammad Ghozali
Keyword(s):  
Economic System ◽  
Capitalist System ◽  
Economic Problems ◽  
Economic Law ◽  
The Poor ◽  
Economic Practice ◽  
The World ◽  
Islamic Economic ◽  
Economic Injustice ◽  
Islamic Values

The implementation ofthe capitalist system has eliminated the Islamic values in economic practice. After the financial crisis hit the world, the capitalist system reaped many questions and its greatnessbegins to be doubted. The capitalist system implementationprecisely creates new problems in the economy. The concept of individualism which is the main key in capitalist practice only creates economic injustice and misery of the poor. The only economic theory that is expected as a light in dealing with economic problems is an economic system that is able to create justice,the welfare of all parties and blessings both the world and the hereafter. The theory is the Islamic economics which in practice is inseparable from Islamiceconomic law. Islamic economic law that underlies the Islamic economic system is totally different from the capitalist economic system.Keywords: Islamic Economic Law; Islamic economics; Capitalist Economy

scholarly journals On the Investigation of Energy Efficient Torque Distribution Strategies through a Comprehensive Powertrain Model

2021 ◽  
Vol 13 (8) ◽  
pp. 4549
Author(s):  
Sara Salamone ◽  
Basilio Lenzo ◽  
Giovanni Lutzemberger ◽  
Francesco Bucchi ◽  
Luca Sani
Keyword(s):  
Energy Storage ◽  
Electric Vehicles ◽  
Energy Efficient ◽  
Storage System ◽  
Energy Storage System ◽  
Torque Distribution ◽  
Driving Cycles ◽  
Energy Models ◽  
Battery State Of Charge

In electric vehicles with multiple motors, the torque at each wheel can be controlled independently, offering significant opportunities for enhancing vehicle dynamics behaviour and system efficiency. This paper investigates energy efficient torque distribution strategies for improving the operational efficiency of electric vehicles with multiple motors. The proposed strategies are based on the minimisation of power losses, considering the powertrain efficiency characteristics, and are easily implementable in real-time. A longitudinal dynamics vehicle model is developed in Simulink/Simscape environment, including energy models for the electrical machines, the converter, and the energy storage system. The energy efficient torque distribution strategies are compared with simple distribution schemes under different standardised driving cycles. The effect of the different strategies on the powertrain elements, such as the electric machine and the energy storage system, are analysed. Simulation results show that the optimal torque distribution strategies provide a reduction in energy consumption of up to 5.5% for the case-study vehicle compared to simple distribution strategies, also benefiting the battery state of charge.

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