scholarly journals Permissibility of Third-Party Guarantee for Capital in Mudhārabah based on Maslahah; A Study In light of the resolution of (SAC-BNM)

2021 ◽  
Vol 1 (3) ◽  
pp. 26-55
Author(s):  
Mowaffak Noureddin ◽  
Azman Bin Mohd. Noor ◽  
Arif Ali Arif
Keyword(s):  
Public Interest ◽  
Analytical Method ◽  
Research Method ◽  
Banking Sector ◽  
Third Party ◽  
Advisory Council ◽  
Islamic Finance ◽  
Descriptive Research ◽  
The Third ◽  
Research Studies

This research studies public interest (Maslahah) and its consideration in Shari’ah. its classifications and regulations and the significant role it plays in establishing evidence on the contemporary juristic issues. More especially. in the field of Islamic finance and banking sector which issues are increasingly growing and expanding in recent times. The research studies one of these issues. which is the of permissibility of a third-party guarantee of capital in Mudhārabah transaction based on the notion Maslahah. The study was conducted on basis of the resolution adopted by the Shari’ah Advisory Council. Bank Negara Malaysia. (SAC-BNM) on the issue. The researcher used descriptive research method on descriptive related studies to describe the issue. while analytical method was used in analyzing the issue. critically discussing it and providing solution over it. Of the findings arrived at by the researcher are the third-party guarantee is permissible. if he is independent of Mudarib and Rabbul mal. benefactor and there is misconduct or negligence by him. The guarantee is not permissible if it is proven that the capital has been damaged without misconduct by Mudarib. and when the capital is damaged in the normal circumstances. if Mudarib establishes evidence that the damage occurred without misconduct or negligence on his part. it is not guaranteed in order to preserve his interest. and if he is unable to provide evidence that he has not violated the capital. it is guaranteed. in order to preserve the interest of Rabbul mal. and this is the interest consideration.

scholarly journals PENERAPAN INFORMASI AKUNTANSI DIFERENSIAL DALAM PENGAMBILAN KEPUTUSAN MEMBELI ATAU MEMBUAT SENDIRI PRODUK SETENGAH JADI PADA UD. BERKAT ANUGERAH

2013 ◽  
Vol 8 (4) ◽  
Author(s):  
Phamela D Tampubolon ◽  
David Paul Elia Saerang ◽  
Agus Toni Poputra
Keyword(s):  
Research Method ◽  
Accounting Information ◽  
Third Party ◽  
Economic Conditions ◽  
Short Term ◽  
Descriptive Research ◽  
Course Of Action ◽  
Management Measure ◽  
The Cost

Amid competition is so rapid and uncertain economic conditions, every company is required to be more efficient in order tobe more efficient in orderto survive and all of it can not be separated from the role of management.  Management measure which is occupied to measure the success or failure of the company is profit. To produce an efficient profit differential accounting information requires management to select the best course of action among alternatives available. The purpose of this study is to analyze the application of differential accounting information in the decision to buy or make your own semi-finished products on UD. Berkat Anugerah. This study uses a descriptive research method. The result of the analysis of research conducted on UD. Berkat Anugerah seen from the cost accounting showed diferential role in the short-term decision making, where the company should buy semi-finished products from third party cost incurred due to lower than producing its own.

scholarly journals KONTRIBUSI DANA PIHAK KETIGA TERHADAP RENTABILITAS EKONOMIS (STUDI KASUS DI PT BANK MUAMALAT INDONESIA)

2017 ◽  
Vol 1 (2) ◽  
Author(s):  
Agung Budi
Keyword(s):  
Regression Method ◽  
Third Party ◽  
Descriptive Research ◽  
The Third ◽  
The Third Party

This research aims to figure out how significant is the effect of The Third Party Funds (the research focuses on the Deposit of Mudharabah, Mudharabah Savings, and the Wadi’ah Giro) towards Economical Profitability at PT. Bank Mu’amalat Indonesia (BMI). This research is a kind of a descriptive research through correlational regression method. It aims to figure out how significant is one or more than one variables may give the influence towards other variables. The result of this research shows that The Third Funds does not have any significant effect towards the Economical Profitability with the gained correlational value 31,4%. It goes without saying, 68,6% of Economical Profitability is influenced by other variables which are not identified in this research.Kata Kunci : Third Fund Party, Economic Rentability             

The First Android Based Sharia Fintech Innovation In Indonesia To Increase Inclusive and Literate on Society’s Finance

2021 ◽  
Vol 1 (2) ◽  
pp. 01-19
Author(s):  
Suhartono Suhartono ◽  
Juniato Sidauruk ◽  
Octa Pratama Putra ◽  
Syamsul Bahri ◽  
Martias Martias ◽  
...  
Keyword(s):  
Financial Services ◽  
Research Method ◽  
Banking Sector ◽  
Financial Inclusion ◽  
Descriptive Research ◽  
Technology Industry ◽  
Technical Procedure ◽  
Interview Session ◽  
Personal Finances ◽  
Financial Technology

Technology has become the part of today’s people life. Then, it is actually close to the application of it. Absolutely, it has example; such as the electricity for having more sophisticated in financial technology (Fin-Tech). The simplicity and speed of this technology have led people to adopt it in everyday’s life. One of the innovations in developing business and the economy, especially in the banking sector, is currently to develop Fintech (Financial Technology) which is able to facilitate all types of buying and selling transactions, investments and fundraising. Next, the purpose of this study is to explain and provide an understanding of the technical, procedures and benefits of the application, it is called Sharia FinTech. Then, it is also to contribute to the literature on the capacity of the latest technological and non-technological innovations. The research method used is descriptive research method with a qualitative approach. It is to describe and explore the phenomena in the form of engineering human innovation in the financial technology industry. It is done by taking into account the characteristics, quality, and interrelationships between activities It has several aspects; they are: conducting the observation, having an interview session, creating the documentation, and the last one is doing the Literature review. The result of this study is to increase the knowledge, skills and confidence of the community in managing personal finances to be better and to provide access to be having convenient and accountable financial services. Afterwards, this study linits on explaining and providing an understanding of the technical, procedure and benefits of Sharia Fintech for all people in need. Thence, the limitation of the research only discusses the role of Islamic Fintech in increasing the public financial inclusion and literacy. As for the the next researchers, they can be even wider by adding the collaboration of fintech and the banking world. The novelty of this research is the use of the android application as a digital platform in financial inclusion and literacy.

Islamic finance arbitration: enforceability under the New York Convention 1958 of arbitration awards made following a reference to the Shariah Advisory Council under the Central Bank of Malaysia Act 2009

2019 ◽  
Vol 35 (2) ◽  
pp. 245-261
Author(s):  
Abdullah Abdul Rahman
Keyword(s):  
New York ◽  
Central Bank ◽  
Research Method ◽  
Advisory Council ◽  
Islamic Finance ◽  
Legal Research ◽  
Financial Transaction ◽  
Arbitration Clause ◽  
New York Convention ◽  
Governing Law

Abstract This article analyses the enforceability of arbitration awards, rendered following a reference to the Shariah Advisory Council of the Central Bank of Malaysia under sections 56 and 57 of the Central Bank of Malaysia Act 2009, under the New York Convention 1958 which has been adopted in 159 countries. This article employs the theoretical legal research method and has compared sections 56 and 57 against the requirements of the Convention for enforceability of awards, in particular the fundamental attributes of an arbitration. The conclusion is that such awards would not be enforceable under the Convention as they infringe Article V(1)(d) of the Convention. This would cause such awards to lose the feature of global and convenient enforceability usually attached to arbitration awards. These consequences make it less attractive, where there is an arbitration clause in the Islamic financial transaction documentation, to choose the Malaysian law as the governing law whether with regard to the substantive merits or the arbitration proceedings. This article recommends that amendments be made to sections 56 and 57 to make the reference to the Shariah Advisory Council optional rather than mandatory and its ruling advisory instead of binding, in respect of arbitration only, so that the global enforceability of such arbitration awards under the Convention is not undermined.

scholarly journals THE APPOINTMENT OF MEMBERS TO THE SHARIAH ADVISORY COUNCIL OF CENTRAL BANK OF MALAYSIA: LEGAL ISSUES

2017 ◽  
Author(s):  
Mohammad Azam Hussain ◽  
Rusni Hassan ◽  
Alias Azhar ◽  
Aznan Hasan
Keyword(s):  
Central Bank ◽  
Research Methodology ◽  
Analytical Method ◽  
Islamic Law ◽  
Legal Issues ◽  
Advisory Council ◽  
Islamic Finance ◽  
Legal Research ◽  
Statutory Requirement ◽  
The Future

Abstract: In Malaysia, the appointment of members to the Shariah Advisory Council (SAC) of the Central  Bank  of Malaysia (CBM) is prescribed by the Central Bank of Malaysia Act 2009 (Act 701). The Act stipulates the provisions pertaining to the eligible persons to be appointed to the SAC, procedures, terms and conditions of appointment and also remuneration and allowances for the members of the SAC. In this regard, the question arises whether the prescribed provisions are sufficient to regulate the appointment of members to the SAC and free from any shortcomings. Hence, this study sought to analyse the existing legislations governing the appointment of members to the SAC and to analyse the legal issues arising from the existing legislations. By using legal research methodology, this article analysed the entire provisions dealing with the appointment matter. Based on the data collected from statutes passed by the Parliament of and Malaysia published materials, the analytical method was used by scrutinizing the related provisions of the law pertaining to the appointment of members to the SAC. This study found that, several loopholes  exist  in  the  statutory requirement of the existing law which needs to be addressed by the respective authoritative body in order to avoid any legal conflict in the future. Hence this study is significant in order to strengthen the existing legislation governing the SAC especially related the appointment process.   Keywords: Shariah advisory council, Shariah advisor, Islamic finance, Islamic law, Central Bank of Malaysia Act 2009.   Abstrak: Di Malaysia, pelantikan anggota Majlis Penasihat Shariah (MPS) Bank Negara Malaysia (BNM) ditetapkan oleh Akta Bank Negara Malaysia 2009 (Akta 701). Akta menetapkan peruntukan-peruntukan berkaitan orang yang layak untuk dilantik menganggotai MPS, prosedur, terma dan syarat-syarat perlantikan dan juga saraan dan elaun anggota-anggota MPS. Dalam hal ini, persoalan timbul sama ada peruntukan yang ditetapkan memadai untuk mengawal selia pelantikan anggota MPS dan bebas daripada sebarang kekurangan. Kajian ini bertujuan untuk menganalisis undang-undang sedia ada yang mentadbir pelantikan anggota MPS dan untuk menganalisis isu-isu undang-undang yang timbul daripada undang-undang sedia ada. Dengan menggunakan metodologi penyelidikan undang-undang, artikel ini menganalisis keseluruhan peruntukan yang berkaitan urusan pelantikan anggota MPS. Berdasarkan data yang telah kumpul daripada statut-statut yang diluluskan oleh Parlimen Malaysia, kaedah analisis telah digunakan dengan meneliti peruntukan-peruntukan undang-undang yang berkaitan pelantikan anggota MPS. Kajian ini mendapati bahawa, beberapa kelemahan wujud dalam kehendak statut dalam undang-undang sedia ada yang perlu diberi perhatian oleh pihak berkuasa yang berkaitan dalam usaha mengelak daripada berlaku sebarang konflik undang-undang pada masa hadapan. Oleh itu, kajian ini adalah sangat penting untuk mengukuhkan undang- undang sedia ada yang mengawal selia MPS terutamanya berkaitan proses pelantikan.   Kata kunci: Majlis Penasihat Shariah, Penasihat Shariah, Kewangan Islam, Undang-undang Islam, Akta Bank Negara Malaysia 2009.

KAIDAH “PADA DASARNYA PERINTAH BERARTI WAJIB, KECUALI JIKA DALIL MENUNJUKKAN HAL LAIN” DAN PENERAPANNYA PADA BAB MUAMALAH

Al-MAJAALIS ◽  
2020 ◽  
Vol 7 (2) ◽  
pp. 69-102
Author(s):  
Anas Burhanuddin
Keyword(s):  
Research Method ◽  
Third Parties ◽  
The Other ◽  
Third Party ◽  
Data Sources ◽  
The Third ◽  
Implementation Approach ◽  
Data Collection And Analysis ◽  
Rich Liquid ◽  
Points Of View

Muamalat (transactions or dealings) is a quarter of the fiqh chapter besides worship, munakahah (marriage) and jinayah chapters. Another perspective, muamalah is half fiqh; because munakahah and jinayah can be put under muamalah. Showing the urgency of the muamalah chapter is being half of the religion. On the other hand, the rules “Basically, the Command Means Obligatory, Unless The Postulate Shows Other Things” is one of the most important rules in ushl al-fiqh. This study examines this rule and its application in the Muamalah chapter. The research method used is a qualitative with a theory implementation approach. The data sources are the books of ushlal-fiqh, fiqh, interpretation, hadith and Arabic. Data collection and analysis are done deductively. The most important results of this study are as follows: (1) The strongest opinion is that the command basically shows the obligation, unless the postulate transfers it to another meaning. (2) The ushuliyyah rules have enough examples of application in the muamalah chapter, such as: a. Basically the order means mandatory while there is no postulate that diverts it to other meanings, for example the order to return the slave brothers who are sold separately, the order to determine the size of the salam commodity, the order to return goods borrowed and deposited, and the order to sell similar ribawi commodities in tamatsul (such as in the dose or the scales) and taqabud (cash). b. The orders change meaning to sunnah or other meanings if there is a postulate that diverts them to these other meanings. For example, orders to bring witnesses in a sale and purchase transaction, waqf orders, and orders to record debts and credit. (3) Sometimes there are different points of view in understanding the meaning of the command, and whether there is a postulate that diverts it from the meaning of mandatory. For example, the order to take and announce the finding (luqathah) and the order to accept the transfer of receivables to third parties, if the third party is rich (liquid).

scholarly journals PENGARUH VARIABEL EKONOMI MAKRO TERHADAP PENYALURAN PEMBIAYAAN MELALUI DANA PIHAK KETIGA SEBAGAI VARIABEL INTERVENING (Studi Kasus pada Bank Umum Syariah di Indonesia Tahun 2011–2015)

IQTISHODUNA ◽  
2017 ◽  
Vol 12 (2) ◽  
pp. 83-90
Author(s):  
Lilik Zazilatul Mufidah
Keyword(s):  
Research Method ◽  
Third Parties ◽  
Third Party ◽  
Islamic Banking ◽  
Economic Variable ◽  
Direct Influence ◽  
Analysis Method ◽  
The Third ◽  
Interest Income ◽  
Banking Development

Islamic banking development in Indonesia has been improving continuously. Islamic banking activityin fund distribution could not be separated from an influence of macro economic variable, because one of thefactors that influenced fund was macro economics outwardness of the company. The purpose of the researchwas to saw direct influence of macro variable toward fund distribution and indirect influence toward fundthrough intervening variable. Kind of the research method was quantitative, the research samples were sixgeneral Islamic Banking in Indonesia since 2011–2015 and was taken with purposive sampling. This researchused path analysis method. The result showed that interest income inflation and exchange rate did notinfluenced significantly toward third-parties fund. Whereas circulate money aggregation influenced significantlytoward third-parties fund. In the significant second test the result showed that inflation, interest income, andcirculate money aggregation influenced significantly toward fund distribution. In the third significant test, theresult showed that third-parties fund influenced significantly toward amount of fund distribution. Finally,from the results could be concluded that third-parties fund was only became intervening variable for thecirculate money aggregation, because the circulate money aggregation influenced third party fund and funddistribution.

scholarly journals PERJANJIAN DALAM PERKAWINAN MENURUT PUTUSAN MAHKAMAH KONSTITUSI RI NO. 69/PUU-XIII/2015 DAN PENETAPAN PENGADILAN NEGERI TANGERANG NO.269/PEN.PDT.P/2015/PN.TNG

2019 ◽  
Vol 2 (1) ◽  
pp. 1239
Author(s):  
Veren Abigail ◽  
Abdul Gan Abdulilah
Keyword(s):  
Research Method ◽  
Third Party ◽  
District Court ◽  
Constitutional Court ◽  
Legal Certainty ◽  
Marriage Law ◽  
Legal Research ◽  
The Third ◽  
Mixed Marriages ◽  
The Law

According to the Marriage Law Article 29 the marriage agreement is made before or at the time of marriage. But in October 2016 the Constitutional Court passed verdict No.69 / PUU-XIII / 2015 as a material test of Article 29 of the Marriage Law which with the ruling of the constitutional court the marriage agreement can be made before, at the time of marriage, even throughout the marriage. However, before the constitutional court issued the verdict, the Tangerang District Court issued a ruling stipulating the marriage agreement throughout the marriage, namely the decision No. 269 / PEN.PDT.P / 2015 / PN.TNG which the parties were mixed marriages couple. The problem discussed is what the judge considers in deciding the marriage agreement when there is no provision that the marriage agreement can be made throughout the marriage. The legal research method used is a normative research method. Based on the research’s result, the judge granted and stipulated the marriage agreement based on the Marriage Law Article 4 which states that the marriage agreement is possible to be changed as long as there is agreement between the two parties and does not harm the third party In conclusion, the judge did not decide in accordance with the law regulating at the time. The suggestion is that it is expected that the judge as a law enforcer can make a decision in accordance with the law regulating at that time. Because ideally the judge's decision must contain justice, legal certainty, and expediency.

scholarly journals The Third Party Funds and Non Performing Financing Rate on Murabahah

2020 ◽  
Vol 36 (1) ◽  
pp. 209-218
Author(s):  
Dian Hakip Nurdiansyah ◽  
Muhammad Nasim Harahap ◽  
Nurul Hotimah
Keyword(s):  
Research Method ◽  
Third Parties ◽  
Third Party ◽  
Financial Statement ◽  
Test Hypothesis ◽  
The Third ◽  
The Third Party

The purpose of this research was to find out of Third Parties Fund, Non-Performing Financing and Murabahah in PT Bank Syariah Mandiri and to analyze and explain for both partially and simultaneously on Murabahah at PT Bank Syariah Mandiri. While the research method is descriptive quantitative with data obtained from the quarterly financial statement of PT Bank Syariah Mandiri. The results show that Third Parties Fund, Non-Performing Financing, and Murabahah continue to fluctuate. To partially test hypothesis shows that variable Third-Parties Fund significant effect on Murabahah, while variable Non-Performing Financing no significant effect on Murabahah.

scholarly journals Akad Qordhul Hasan Sebagai Strategi Baznas Jatim Dalam Mengoptimalisasikan Dana Zakat Untuk Pemberdayaan Ummat

2018 ◽  
Vol 2 (1) ◽  
Author(s):  
Mohammad Munir
Keyword(s):  
Research Finding ◽  
Research Method ◽  
Research Problem ◽  
Research Approach ◽  
Literature Study ◽  
Collection Method ◽  
Descriptive Research ◽  
The Third ◽  
Is Research ◽  
Economic Improvement

              The formulation of the research problem in this thesis can be described as follows: First, How is the strategy of Baznas East Java in optimizing the zakat fund, second, How is the implementation of Qordhul Hasan in Baznas East Java, the third is the qordhul Hasan agreement in accordance with the fatwa Number: 19 / DSN-MUI / IV / 2001.             This qualitative research approach is research using explorative research method and descriptive research method. Data collection method is by interview with snowball technique, observation, documentation and literature study through several book and internet sources, hence the result of research finding of Baznas East Java in optimizing zakat fund there are five programs that is East Java Smart, East Java Healthy, East Java Devotion, East Java is prosperous and East Java cares. The empowerment of zakat makes the mustahik have the power of the development of resources of the community in the form of creativity, competence and thinking power considering the economic growth and technology so rapidly will greatly affect the ability of each individual in fulfilling the needs of his life then with prosperous Java Baznas program includes the aid of work tools, work in collaboration with BLK and Cooperation services provide the skills of UMKM and revolving capital assistance that partner with or work together with mosque board, Reading Qur’an community and county Baznas who know the condition of the mustahik by making a letter of application and ready to be surveyed to pilgrims who will get capital assistance. The procedure is that the aid will be handed over to the mosque administrator, reading Qur’an community and the county Baznas for the next of the same committee is handed over to mustahik who is well worthy of receiving assistance.        The result of the research showed that Eat Java Baznas is in accordance with the fatwa Number: 19 / DSN-MUI / IV / 2001 which reads "That one of the means of economic improvement that can be done by LKS / BAZNAS is channeling funds through Al-Qordh principle, to the customer or mustahik provided that the client / mustahik is obliged to return the funds received in accordance with the agreement. If the Client / Mustahik cannot refund part or all of his liability for his / her inability then may extend the repayment period or partially off or off his / her liabilities. Keywords: Qordhul Hasan Agreement, Strategy, Optimize, Zakat Empowerment  

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