scholarly journals Kajian Investasi Pembangunan Jalan Tol Menggunakan Dana Haji (Studi Kasus: Jalan Tol Gempol - Pandaan)

2021 ◽  
Vol 28 (1) ◽  
pp. 63-72
Author(s):  
Achmad Dzulfiqar Alfiansyah ◽  
Rudy Hermawan Karsaman ◽  
Harun Al-Rasyid
Keyword(s):  
Risk Sharing ◽  
Payback Period ◽  
Bank Loan ◽  
Investment Risk ◽  
Toll Road ◽  
Islamic Bank ◽  
Investment Capital ◽  
The Government ◽  
Risk Investment ◽  
Better Than

Abstrak Pendanaan jalan tol di Indonesia dapat berasal dari dana pemerintah, swasta ataupun sumber lain. Salah satu alternatifnya adalah dengan sistem syariah yang didasarkan pada bagi hasil keuntungan dan resiko sesuai dengan presentase modal pinjaman yang diberikan. Pemerintah Indonesia telah berencana menggunakan dana haji sebagai modal investasi pembangunan infrastruktur, salah satunya pembangunan jalan tol. Namun hal ini menimbulkan protes dari masyarakat sebagai pemilik dana haji karena langkah tersebut dinilai berisiko tinggi. Sebagai hasil analisis kelayakan finansial diperoleh bahwa skema dana haji memiliki kelayakan investasi yang paling baik dibandingkan skema konvensional dan skema bank syariah berdasarkan parameter NPV, BCR, Payback Period, IRR, ROI, dan ROE dikarenakan tingkat suku bunga pada konvensional lebih tinggi dibandingkan skema syariah. Skema dana haji lebih baik dibandingkan skema bank syariah disebabkan cara menghitung bagi hasil skema dana haji menghasilkan nilai yang lebih kecil dibandingkan pinjaman bank syariah. Dana haji layak secara finansial dan dapat diterapkan pada pembiayaan jalan tol di Indonesia. Namun perlu adanya perundang- undangan yang jelas dan menjamin penggunaan dana haji aman dan bermanfaat bagi pemilik dana haji. Kata-kata Kunci: Jalan tol, dana haji, investasi, kelayakan finansial, tarif tol, optimasi. Abstract Toll road funding in Indonesia could come from the government, private sector or other sources. One of funding alternative is the sharia system, which based on profit and risk sharing according to the percentage of loan capital provided. The Indonesian government has planned to use Hajj fund as investment capital for construction of toll road. However, this plan caused protests from the society as an owner of the Hajj fund because it was considered as a high-risk investment. The result of this study, the Hajj fund scheme have the best investment feasibility more than conventional and sharia bank scheme based on NPV, BCR, Payback Period, IRR, ROI, and ROE due to higher conventional interest rate than the sharia scheme. The hajj fund scheme is better than the Islamic bank scheme because the method of calculating the profit share of the Hajj fund scheme produces smaller value than the Islamic bank scheme. Hajj fund scheme has lower investment risk than conventional and islamic bank loan. Hajj fund is financially feasible and thus is applicable to financing toll road in Indonesia.. However, it is imperative to establish a clear regulation that can guarantee for their owners that the Hajj fund is safe and beneficial. Keywords: Toll roads, hajj funds, investment, financial feasibility, toll rates, optimization.

scholarly journals Risk and Income Evaluation Decision Model of PPP Project Based on Fuzzy Borda Method

2021 ◽  
Vol 2021 ◽  
pp. 1-10
Author(s):  
Longbo Du ◽  
Jing Gao
Keyword(s):  
Decision Making ◽  
Social Capital ◽  
Risk Sharing ◽  
Investment Risk ◽  
Research Results ◽  
Effect Theory ◽  
Project Risks ◽  
Project Participants ◽  
The Government ◽  
The Impact

In order to effectively analyze the risk-return decision-making model of PPP project by Yuan et al., (2020) this paper, based on the fuzzy Borda method and synergy effect theory, considers the synergistic effect of PPP project, constructs the model of investment risk sharing, incentive, and supervision punishment, and determines the investment risk sharing, incentive, and PPP project investment. This paper also aims to supervise and punish the decision-making mechanism to achieve the goals of the PPP project. The research results show that the increased synergy of project participants not only reduces the impact of investment risk on project revenue but also promotes project participants to increase their willingness to undertake risks, actively undertake project risks, and achieve synergy effects of PPP projects. Through the cooperation of both parties, the total income of PPP projects is increased. The research results show that the government chooses social capital participants with complementary advantages to form synergy as shown by Jiang et al. (2016); with the increase of synergy, the government needs to increase the incentive intensity, improve the performance behavior of social capital participants as proposed by Junlong et al. (2020), curb their speculation, and promote the two sides. Due to the increased synergy and the willingness of social capital participants to increase cooperation and reduce speculation, the government should reduce the intensity of supervision and punishment.

Risk Control Study Based on the Digital Recording Technology Industry Investment Projects in "Internet +"

2020 ◽  
Vol 14 ◽  
Author(s):  
Yan Zhou
Keyword(s):  
Venture Capital ◽  
Digital Technology ◽  
Risk Control ◽  
Investment Risk ◽  
Digital Recording ◽  
Project Investment ◽  
Recording Technology ◽  
Technology Project ◽  
Investment Evaluation ◽  
Risk Investment

Background: The reform and innovation of recording technology has resulted in recording becoming an exciting, developing project. Against the background of Internet +, traditional analogue technology has developed into digital recording technology, playing an important role in various fields. Venture capital in digital recording technology projects has also attracted attention from all circles. Objective: This paper aims to, by sorting out literature on venture capital, analyze the measurement method of project investment risk, and then, after analyzing the risk factors existing in the investment of digital recording technology under the “Internet +”, propose measures to control these risk factors. At the same time, taking CY company as an example, the investment risk prevention strategy of digital recording technology project is applied to the risk investment evaluation practice of CY company. Methods: This paper reviews and comments the literature on venture capital, and sorts out the evaluation methods of project investment risk. After studying the project investment risk of digital recording technology, this paper finds out the preventive strategies to deal with these risks, and applies them to risk investment evaluation of CY. This paper proposes investment suggestions basing on various factors, and makes an overall evaluation of the value of digital recording technology project, which hopefully will act as a reference for venture capital institutions when investing in digital recording technology in the future. Results: The countermeasures against investment risks in digital recording technology projects are: 1. Identification of countermeasures against investment risks in digital recording technology projects. 2. Encouragement and promotion of joint-stock cooperation and reduction of operational risks 3. Establishment and improvement of financial risk control. Conclusion: Digital technology, which is continuously improving, has penetrated recording technology. With mindful awareness of investment risks and careful investment in recording technology projects, digital technology can improve living standards while making the flexibility and form of recording work more artistic and enabling recording technology to reach new heights.

Challenges of Small- and Medium-Sized Enterprises (SMEs) in Business Growth: A Case of Footwear Industry

2020 ◽  
pp. 2516600X2097412
Author(s):  
A. K. M. Hedaitul Islam ◽  
Md. Rayhan Sarker ◽  
Md. Israil Hossain ◽  
Kauser Ali ◽  
K. M. Asadun Noor
Keyword(s):  
Delphi Method ◽  
Market Competition ◽  
Bank Loan ◽  
Fuzzy Analytical Hierarchy Process ◽  
Business Growth ◽  
Fuzzy Delphi ◽  
Footwear Industry ◽  
Research Gap ◽  
The Government ◽  
Hierarchy Process

Small- and medium-sized enterprises (SMEs) create more employment opportunities and thus, contribute to the national economy of a country. Footwear SMEs have been identified as an emerging economy in Bangladesh, which is facing several challenges. Very few studies focused on the challenges of SMEs’ business growth. However, until now, no literature particularly focused on the challenges of footwear SMEs and discussed how to tackle these challenges. To fill this research gap, we use the Fuzzy Delphi Method and fuzzy analytical hierarchy process, to find out the degree of importance of critical challenges of footwear SMEs. In our study, 16 critical challenges are identified among which lingering in cash flow (F3), fierce market competition (E1), access to finance (F2), unfavorable bank loan policy (F1), and poor supply chain management (E2) have been ascertained as the top five critical challenges, respectively. This study contributes to the existing literature of SMEs by identifying five new challenges from the context of the footwear industry. Furthermore, we suggest some possible measures to overcome the identified challenges. This study can guide the government, practitioners, and SME policymakers to address these challenges for the growth of any SME sector.

Improvement of environmental health and hygiene practices - case study in the Northern Province

2001 ◽  
Vol 44 (6) ◽  
pp. 109-117 ◽  
Author(s):  
M. A. Mathegana ◽  
L. K. Chauke ◽  
F. A.O. Otieno
Keyword(s):  
South Africa ◽  
Environmental Health ◽  
Northern Province ◽  
Active Involvement ◽  
Sustainable Improvement ◽  
Hygiene Practices ◽  
Proper Training ◽  
The Government ◽  
Better Than

The primary purpose of an improved water supply and sanitation is the achievement of acceptable health and hygiene standards as well as the sustainable improvement of the environment. Many governments recognize this and so they budget for large sums of money to improve these services to the communities. The purpose of this study was to investigate the different gaps in environmental health and hygiene practices with the aim of suggesting a strategy of improving this in the Northern Province of South Africa. To do this, 231 households and 30 schools were surveyed. Workshops and visits to different government departments were also used. This paper reports the results from this study which indicate that the situation in schools was not any better than that in households, with more than 90% of the villages still dependent on the unimproved pit latrines and 56,6% relying on standpipes which were (70% of the time) non-operational. The main problems identified seem to those associated with implementation and maintenance. The study concludes that with proper training of the water committees and their active involvement with the government and NGOs, environmental health and hygiene problems can be minimized or eliminated.

Frozen Negotiations: The Peace Process in Chiapas

2006 ◽  
Vol 22 (1) ◽  
pp. 131-152 ◽  
Author(s):  
Raúúl Beníítez Manaut ◽  
Andrew Selee ◽  
Cynthia J. Arnson
Keyword(s):  
Armed Conflict ◽  
Democratic Transition ◽  
Political Process ◽  
Peace Process ◽  
Democratic Society ◽  
The Political ◽  
Peace Agreement ◽  
The Past ◽  
The Government ◽  
Better Than

Mexico's democratic transition has helped reduce, if not eliminate, the threat of renewed armed conflict in Chiapas. However, absent more active measures from the government and the Ejéército Zapatista de Liberacióón Nacional (EZLN) to seek a permanent peace agreement and come to terms with the legacies of the past, the conflict will linger on in an unstable déétente, which we term ““armed peace.”” While this situation is far better than the open hostilities of the past, it also belies the promise of a fully democratic society in which all citizens are equally included in the political process. La transicióón democráática en Mééxico ha contribuido a reducir, si no eliminar, la posibilidad de que el conflicto armado en Chiapas se reanude. Sin embargo, sin esfuerzos mas activos por parte del gobierno y del Ejéército Zapatista de Liberacióón Nacional (EZLN) para buscar un acuerdo de paz permanente y saldar cuentas con el pasado, el conflicto permaneceráá en un estado inestable que llamamos ““paz armada””. Aunque esta situacióón es mucho mejor que las tensiones y agresiones del pasado, no cumple los requisitos de una sociedad plenamente democráática en que todos los ciudadanos participan en condiciones de igualdad en el proceso políítico.

Comparison of the effects of the food supplementation programmes of ICDS centers and primary schools at Bali Gram Panchayat, Arambagh, West Bengal, India

2014 ◽  
Vol 34 (3/4) ◽  
pp. 232-246
Author(s):  
Gopal Chandra Mandal ◽  
Kaushik Bose ◽  
Slawomir Koziel
Keyword(s):  
Nutritional Status ◽  
Primary Schools ◽  
West Bengal ◽  
Food Supplementation ◽  
Content Type ◽  
Active Involvement ◽  
Quality Of Food ◽  
The Government ◽  
Better Than

Purpose – Developing countries like India, accounts for about 40 percent of undernourished children in the World and it is largely due to the result of dietary inadequacy in relation to their needs. The purpose of this paper was to evaluate the changes in the nutritional status of the children, from their preschool days to the present primary school days. Design/methodology/approach – The present investigation was conducted at 20 Integrated Child Development Service (ICDS) centers (Center-A) and 15 primary schools (Center-B) in Bali Gram Panchayat, Arambag, Hooghly District of West Bengal, India, at an interval of three to four years. A total of 1,012 children (boys=498; girls=514) aged two to six years old enrolled in these ICDS centers and a total of 603 children (boys=300, girls=303), aged five to ten years were studied from the 15 primary schools who were the beneficiaries of ICDS centers. Underweight (weight-for-age Z-score (WAZ)) and wasting (weight-for height Z-score (WHZ)) were used to assess the nutritional status. Findings – The nutritional situation (both in case of underweight and wasting) was better in Center B as compared with Center A. In general, the nutritional condition of boys was better than girls. Center had a very significant effect on both WAZ as well as WHZ, irrespective of age and sex. Sex has a significant impact only on WAZ. Interestingly, there was no significant sex-center interaction for both WAZ as well as WHZ. The children of the area were getting Mid Day Meal supplied through the school authorities which was comparatively better than the ICDS centers’ food supplementation. Better monitoring of nutritional supplementation at primary schools may be an important factor. Practical implications – In ICDS centers, only the Anganwari worker is responsible in running and implementing the programs offered by the Government. However, at primary schools, the active involvement of all the teachers to run the program may have effectively led to have better results. Furthermore, the Government's focus should not be only on the increase the area covered by the ICDS program, but focus should be to increase the quality of food supplied, proper monitoring of the implementation and increase the allocation of funds. Appropriate measures may be taken by the authorities regarding this. Originality/value – The results of the study will help in policy making in reducing the prevalence of undernutrition.

scholarly journals Studi Kelayakan Ekonomis Rencana Pembangunan Pelabuhan Sungai Liong Desa Berancah Kabupaten Bengkalis

2019 ◽  
Vol 3 (2) ◽  
pp. 146
Author(s):  
Nur Rahmani ◽  
Akmal Lazuardy
Keyword(s):  
Net Present Value ◽  
Payback Period ◽  
Economic Feasibility ◽  
Rate Of Return ◽  
Cost Ratio ◽  
Internal Rate Of Return ◽  
Benefit Analysis ◽  
Present Value ◽  
The Government ◽  
The Cost

The fish shelter port (TPI) is a need that needs to be prepared by local village officials and the government for every coastal village in Bengkalis Regency. This research was conducted in the Berancah village of Bantan District. The analysis in this study describes the economic feasibility mathematically for the construction of a fish storage port (TPI) by calculating the cost ratio (B / C ratio) benefit analysis, payback period (PP), net present value (NPV), and internal rate of return ( IRR). The results obtained from the NPV value (3,661,267,645), BCR value (0.943), IRR value of 10.01%, and PP are in the period of 30 years. Taken as a whole by standardizing the calculations, it can be concluded that the planned construction of a fish shelter in Berancah village is considered not economically feasible, but economic analysis is not merely a benchmark for feasibility, reviewed for the future many benefits will be received by the community around the location of the development plan so that it can improve the welfare of the community in Berancah village.

scholarly journals Analysis of The Influence of Liquidity, Credit and Operational Risk, in Indonesian Islamic Bank’s Financing for The Period 2007-2013

2015 ◽  
Vol 17 (3) ◽  
pp. 279 ◽  
Author(s):  
Ousmane Diallo ◽  
Tettet Fitrijanti ◽  
Nanny Dewi Tanzil
Keyword(s):  
Credit Risk ◽  
Causal Relationship ◽  
Risk Sharing ◽  
Banking Sector ◽  
Panel Data Analysis ◽  
Banking System ◽  
Liquidity Risk ◽  
Operational Risk ◽  
Islamic Banking ◽  
Islamic Bank

The purpose of this paper is to analyze the influence of credit, liquidity and operational risks in six Indonesian’s islamic banking financing products namely mudharabah, musyarakah, murabahah, istishna, ijarah and qardh, in order to try to discover whether or not Indonesian islamic banking is based on the “risk-sharing” system. This paper relies on a fixed effect model test based on the panel data analysis method, focusing on the period from 2007 to 2013. The research is an exploratory and descriptive study of all the Indonesian islamic banks that were operating in 2013. The results of this study show that the Islamic banking system in Indonesia truly has banking products based on “risk-sharing.” We found out that credit, operational and liquidity risks as a whole, have significant influence on mudarabah, musyarakah, murabahah, istishna, ijarah and qardh based financing. There is a correlation between the credit risk and mudarabah based financing, and no causal relationship between the credit risk and musharaka, murabahah, ijarah, istishna and qardh based financing. There is also correlation between the operational risk and mudarabah and murabahah based financing, and no causal relationship between the operational risk and musharaka, istishna, ijarah and qardh based financing. There is correlation between the liquidity risk and istishna based financing, and no causal relationship between the liquidity risk and musharaka, mudarabah, murabahah, ijarah and qardh based financing. A major implication of this study is the fact that there is no causal relationship between the credit risk and musharakah based financing, which is the mode of financing where the islamic bank shares the risk with its clients, but there is an influence of credit risk toward mudarabah mode financing, a financing mode where the Islamic bank bears all the risk. These findings can lead us to conclude that the Indonesian Islamic banking sector is based on the “risk sharing” system.

scholarly journals Pengenalan Manajemen Keuangan Sederhana Pada UMKM Bank Sampah Lestari 25, Kota Serang

2021 ◽  
Vol 1 (2) ◽  
pp. 40-61
Author(s):  
Ranila Suciati ◽  
Zackharia Rialmi ◽  
Siti Hidayati ◽  
Ranti Nugraheni
Keyword(s):  
Community Service ◽  
Financial Management ◽  
Investment Risk ◽  
Community Group ◽  
Financial Reports ◽  
Economic Problems ◽  
The Future ◽  
The Government ◽  
Waste Bank ◽  
Financial Transactions

Bank Sampah Lestari 25 is a community group in Serang City that carries out business activities to utilize waste to be managed with a system of refuse, reduce, and recycle. This effort is certainly a form of public concern in helping the government improve environmental cleanliness. In addition, of course, you will get income to improve people's welfare and advance the economic structure. The absence of financial management carried out at Bank Sampah Lestari 25 makes the performance of this waste bank not optimal. Financial management is an action to achieve financial goals in the future. Financial management includes personal financial management, family financial management, and company financial management. Financial management is an important part of overcoming economic problems, whether individuals, families, or companies. The objectives of financial management in general are to achieve certain target funds in the future, protect and increase wealth owned, regulate cash flow (income and expenditure of money), and carry out risk management and manage investment risk properly and manage debt and credit. From the results of the implementation of community service activities in the form of financial management literacy, training on recording financial transactions, and preparing simple financial reports, the benefits were very much felt. From ignorance of financial management and irregularity in managing finances to understanding and being able to carry out more regular financial management. Abstrak Bank Sampah Lestari 25 adalah kelompok masyarakat di Kota Serang yang melakukan kegiatan usaha memanfaatkan sampah untuk dikelola dengan sistem refuse, reduce, dan recycle. Usaha ini tentunya sebagai bentuk kepedulian masyarakat dalam membantu pemerintah meningkatkan kebersihan lingkungan. Selain itu tentunya mendapatan penghasilan guna meningkatkan kesejahteraan masyarakat dan memajukan struktur ekonomi. Belum adanya manajemen keuangan yang dilakukan pada Bank Sampah Lestari 25 menjadikan kinerja bank sampah ini tidak maksimal.  Manajemen keuangan merupakan sebuah tindakan untuk mencapai tujuan-tujuan keuangan di masa yang akan datang. Manajemen keuangan meliputi manajemen keuangan pribadi, manajemen keuangan keluarga, dan manajemen keuangan perusahaan. Manajemen keuangan merupakan bagian penting dalam mengatasi masalah ekonomi, baik individu, keluarga, maupun perusahaan. Tujuan manajemen keuangan secara umum adalah mencapai target dana tertentu di masa yang akan dating, melindungi dan meningkatkan kekayaan yang dimiliki, mengatur arus kas (pemasukan dan pengeluaran uang), dan melakukan manajemen risiko dan mengatur risiko investasi dengan baik serta mengelola utang piutang. Dari hasil pelaksanaan kegiatan pengabdian kepada masyarakat dalam bentuk literasi manajemen keuangan, pelatihan pencatatan transaksi keuangan, dan penyusunan laporan keuangan sederhana memang sangat dirasakan manfaatnya. Dari ketidaktahuan mengenai manajemen keuangan dan ketidakteraturan mengelola keuangan menjadi mengerti dan mampu melakukan pengelolaan keuangan yang lebih teratur. Kata Kunci: manajemen keuangan; bank sampah; UMKM

scholarly journals KLAUSULA EKSONERASI DALAM PERJANJIAN KREDIT ANTARA PT. MANDIRI PERSERO (TBK) SEMARANG DENGAN WIBOWO S.E. DAN SITI AISYAH (Studi Kasus Putusan No. 8 K/Pdt/2013)

2019 ◽  
Vol 1 (2) ◽  
pp. 595
Author(s):  
Hellen Rumiris ◽  
Stanislaus Atalim
Keyword(s):  
Consumer Protection ◽  
Risk Sharing ◽  
The Other ◽  
Bank Credit ◽  
Standard Contract ◽  
Consumer Protection Act ◽  
The Republic ◽  
The Government ◽  
Credit Agreement ◽  
Banking Credit

Granting credit by the bank to the society greatly helps to develop a business that is run by community both individuals and legal entities. The government of the Republic of Indonesia has intructed banking to provide credit facilities especially for the middle and lower businesses. Banking credit agreement is a standard contract made by the bank by almost not giving freedom at all to the other parties to do negotiation for the requirements offered. This type of research using a normative juridicial research. This research aims to analyze the exoneration clauses in a credit agreement between PT. Bank Mandiri Persero (Tbk) Semarang with Wibowo, S.E. and Siti Aisyah. The bank credit agreement is the legal agreement to the Article 1320 of Indonesian Civil Code. However, the exoneration clauses listed on it contradicts some basis in the law agreement and also violates the provisions of Article 18 of The Consumer Protection Act. Clauses in a credit agreement are made to regulate the rights and the obligatons of the parties so that reasonable risk sharing occures between the bank and the customer. In fact, exoneration clauses are often abused by businessman attempting to diminish, divert and even refuse responsibility. The result of this research concludes that: First, the Government must provide more limits on the using of exoneration clauses through revision of The Consumer Protection Act. Second, PT. Bank Mandiri (Tbk) Semarang must be more meticulous and careful to determine contents of credit agreement.

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