Penerapan bagi hasil pembiayaan musyarakah pada bank pembiayaan syariah

This study aims to determine how the application of revenue sharing for musyarakah financing at BPRS XXX and whether the application of revenue sharing revenue for musyarakah in BPRS is in accordance with DSN Fatwa No. 08/DSN-MUI/IV/2000. This study uses a qualitative descriptive approach with the Grounded Research method. Data collection was carried out by interviewing several related parties in the BPRS, namely the Head of Marketing, Legal Officer, Sharia Supervisory Board, and musyarakah financing customers. The results of his research on the application of revenue sharing for musyarakah financing at BPRS have been carried out in accordance with DSN Fatwa No. 08/DSN-MUI/IV/2000. All provisions regarding musyarakah financing in the DSN Fatwa have been implemented by the BPRS, such as the ijab qabul, the subject of the contract, the object of the contract consisting of capital, work and profits, as well as operational and dispute costs. It's just that the distribution of losses applied by the BPRS is not in accordance with the fatwa, where the BPRS applies losses fully borne by the customer, not in accordance with the provisions of the Fatwa DSN which says that losses are jointly borne in accordance with their respective portion of capital.

Female Managers in the Healthcare Organizations

In a globalized and complicated international economy, executives believe that management culture will be given new direction by management teams comprised of both men and women, and that these mixed teams will contribute to the diversity of ideas and perspectives in management. Despite the fact that there are as many female graduates as male graduates today, women continue to be significantly underrepresented in executive roles in the business world, particularly in top management (executive board, supervisory board). The most important factor preventing women from being managers is work-family balance. While women indeed tend to climb the ladder step by step, men make several jumps in their careers, and they meet with success. It makes no difference whether a candidate for a position as a board member, director, or divisional manager is male or female. The goal of this study is to try to demonstrate that female managers may be more effective in management because of their personalities and areas of competence in the healthcare sector.

Kewenangan Dewan Pengawas Syariah Dan Implikasi Terhadap Perwujudan Corporate Social Responsibility Di Perbankan Syariah

Every company has a social responsibility. There are measurements of social responsibility that are carried out to achieve usefulness, one of which is Islamic banking. Although Islamic banking is only considered a labeling issue. However, with the role of DPS which is realized through CSR, it indicates that Islamic banking contributes and is responsible for various social aspects and nation building as a common goal as stated in the 5th principle of Pancasila. This study aims to determine the authority of the Sharia Supervisory Board (DPS) as mandated in laws and regulations and the implications for the realization of Corporate Social Responsibility (CSR) in Islamic banking. This research method is normative juridical, with a statutory and conceptual approach that refers to legal doctrines. The results of the study indicate that DPS has an important role in preventive efforts for activities in Islamic banking as well as the actuality of social responsibility that is realized through CSR.

The Corruption Eradication Commission (KPK) Supervisory Board's Role as a Grantor of Permits in Corruption Crimes

The existence of the Corruption Eradication Commission or Komisi Pemberantasan Korupsi (KPK)’s Supervisory Board to oversee KPK's work is the result of the KPK Law Number 19 of 2019. This new legislation mandates the KPK Supervisory Board to perform four primary duties. One of the duties of the Board's authority, permitting or not permitting KPK to conduct wiretapping, search, and/or seizure corruption crimes, sparked public outrage due to the fear of attempts to weaken KPK. This research is served for determining whether the role of the KPK Supervisory Board as a licensee for wiretapping, search, and seizure of criminal acts of corruption is functional and will run effectively and efficiently in tackling the eradication of corruption. The research method used is qualitative research with descriptive presentation and a normative juridical approach. According to the findings, the pro-justice authority delegated by law to the KPK Supervisory Board, namely granting permits for wiretapping, search, and confiscation of criminal acts of corruption, has proven to be effective and efficient in combating corruption. It is concluded because, in principle, it is assumed that balancing all the powers of state institutions through supervision is a natural thing to do.

Determinants of Financial Stability of Islamic Insurance Companies Listed on Indonesia Financial Services Authority

Islamic insurance is an Islamic financial service that guarantees a participant's life, health, education, asset, and business. Some of them experienced a decline in their financial stability. This study aims to analyze the determinants of financial stability of Islamic insurance companies registered at the Indonesian Financial Services Authority (OJK) from 2014 to 2018. Thirty-eight data observations were acquired from eight full-fledged Islamic insurance businesses' financial reporting, analyzed using panel data regression. The dependent variable is financial stability, whilst investment, capital structure, insurance premiums, independent board of commissioners, sharia supervisory board, board of directors, and institutional ownership are the independent variables. The results show that financial stability is significantly affected by investment, insurance premiums, independent boards, and institutional ownership. The capital structure, sharia supervisory board, and board of directors do not affect the financial stability. Increasing the number of participant contributions and strategic investments should be a concern of Islamic insurance managers. The role of an independent board and Institutional owners supervisory could strengthen the financial stability of Islamic Insurance. Research on Financial stability is supporting the development of Islamic insurance companies.==================================================================================================== ABSTRAK – Determinan Stabilitas Keuangan Perusahaan Asuransi Syariah yang Terdaftar pada Otoritas Jasa Keuangan. Asuransi syariah adalah salah satu jasa keuangan Syariah untuk menjamin jiwa, kesehatan, pendidikan, aset dan bisnis. Beberapa perusahaan tersebut mengalami penurunan stabilitas keuangannya. Penelitian ini bertujuan untuk menganalisis determinan stabilitas keuangan perusahaan asuransi syariah yang terdaftar pada Otoritas Jasa Keuangan (OJK). Sebanyak 38 observasi diperoleh dari laporan keuangan 8 perusahaan asuransi syariah periode 2014-2018. Analisis dilakukan menggunakan regresi data panel. Variabel yang dipilih dalam penelitian ini adalah stabilitas keuangan sebagai variabel dependen, investasi, struktur modal, premi asuransi, dewan komisaris independen, dewan pengawas syariah, dewan direksi dan kepemilikan saham institusi. Hasil penelitian menunjukkan bahwa variabel investasi, premi asuransi, dewan komisaris independen dan kepemilikan saham institusi berpengaruh terhadap stabilitas keuangan perusahaan asuransi. Variabel struktur modal, dewan pengawas syariah dan dewan direksi tidak berpengaruh terhadap stabilitas keuangan. Peningkatan jumlah iuran peserta dan investasi strategis harus menjadi perhatian pengelola asuransi syariah. peran dewan independen dan pengawasan pemilik institusi dapat memperkuat stabilitas keuangan asuransi syariah. Penelitian stabilitas keuangan pada perusahaan asuransi memberikan dukungan terhadap pengembangan perusahaan asuransi syariah.

SHARIA COMPLIANCE RISK IN ISLAMIC BANK: DOES INDONESIA NEED TO ADOPT NEW SHARIA RISK RATING APPROACH ?

The purpose of this study is to find the most relevant practice of supervision to manage Sharia Compliance Risk in Indonesian Islamic Bank based on the existing literature. The standard doctrinal approach is used to analyse, examine and evaluate the practice of Islamic banking supervision in Indonesia and Islamic banking in Malaysia for comparative purposes. The results revealed that the prior study on Sharia risk rating is applicable to manage Sharia Compliance Risk in Islamic Banks and their factors meet the Basel, AAOOIFI, and IFSB standards. However, there is no assessment made on evaluating the quality of supervision by Sharia Supervisory Board (SSB) members. Thus the study suggested the inclusion of additional factors on the performance of SSB. For Islamic Banking in Indonesia, this sharia risk rating approach can be combined with applicable internal and external risk rating techniques, to provide the promising quality of service and ensure that the offering of various products and services complies with Sharia rules and principles

KONSEP DEFERRED PROSECUTION AGREEMENT (DPA) DALAM PERTANGGUNG-JAWABAN PIDANA KORPORASI SEBAGAI BENTUK ALTERNATIF PENYELESAIAN SENGKETA

Corporate prosecution through formal prosecution is considered to be able to destroy the corporation. If possible, the punishment of the corporation should not cause the corporation to go bankrupt and go bankrupt. The entanglement of corporations in criminal law does not only occur in Indonesia, in the world several phenomenal big cases have disrupted the company's health, which has impacted the company to make efficient by closing several of its subsidiaries and automatically downsizing the number of employees, namely the case that happen to Siemens Aktiengesellschaft (AG) and Volks Wagen (VW). To minimize the bankruptcy of corporations as a result of being convicted, several countries apply the Deferred Prosecution Agreement. The Deferred Prosecution Agreement is an alternative form of dispute resolution carried out outside the court. The author wants to know how the advantages and disadvantages of implementing the Deferred Prosecution Agreement if it is applied in Indonesia by using a conceptual approach and a comparative approach to the application of the Deferred Prosecution Agreement in England and America, to produce the concept of implementing the Deferred Prosecution Agreement in Indonesia. The results of the author's research, the concept of setting up a Deferred Prosecution Agreement at least contains: 1) Corporate approval for cooperation, 2) Process supervision by Judges, 3) Determining the term of the agreement, 4) Standard agreement clauses, 5) Considerations for the use of deferred prosecution agreement only for certain cases. However, we also need to know the advantages and disadvantages of this Deferred Prosecution Agreement concept if applied in Indonesia. The advantages are: 1) The company's reputation and trust are maintained, 2) Minimizes corporate bankruptcy, 3) Shorten, simple and low-cost case resolution, 4) Prosecutors are given the power to regulate the contents of the agreement. Weaknesses: 1) Prone to abuse of authority, 2) Need to make special rules (Lex Specialis). The author suggests that if you apply the concept of the Deferred Prosecution Agreement to corporate crimes, the attorney general should make regulations that regulate the guidelines for the implementation of the Deferred Prosecution Agreement and the standard operating procedures of the prosecutor dealing with the Deferred Prosecution Agreement. If supervision is needed, it is necessary to make special rules regarding the Supervisory Board.

How Do Sharia Supervisory Board and Good Corporate Governance Relate to Islamic Banks Performance?

This study aims to investigate the relationship between the characteristics of the Sharia Supervisory Board (SSB) and Good Corporate Governance (GCG) on the performance of Islamic Banks (IBs). Data were collected from 14 IBs listed on the Financial Services Authority (OJK) during 2013–2019. The multiple regression results empirically show that SSB with the academic position as professor shows a significant positive relationship on IBs performance. Meanwhile, SSB with doctoral education has no positive relationship with IBs performance. Although it is not positively correlated, doctoral education is still needed but with a background in law or sharia education, economics including finance or accounting, and muamalah. Educational background is proven to have a significant positive relationship with IBs' performance. Meanwhile, SSB, which only has a finance or accounting background, does not positively affect IBs' performance. In addition, GCG shows a very significant positive relationship with the IBs' performance. It indicates that effective and efficient governance by the Board of Directors, Board of Commissioners, and SSB through implementing better GCG and sharia principles will improve IBs performance.==========================================================================================================ABSTRAK – Bagaimana Kaitan Dewan Pengawas Syariah dan Good Corporate Governance dengan Kinerja Bank Syariah? Penelitian ini bertujuan untuk mengetahui hubungan antara karakteristik Dewan Pengawas Syariah (DPS) dan Good Corporate Governance (GCG) terhadap kinerja Bank Syariah (BS) di Indonesia. Data dikumpulkan dari 14 BS yang terdaftar di OJK selama periode 2013-2019. Berdasarkan hasil regresi berganda secara empiris menunjukkan bahwa DPS yang memiliki jabatan akademik sebagai profesor menunjukkan hubungan positif yang signifikan dengan kinerja BS. Sedangkan DPS dengan pendidikan doktor tidak memiliki hubungan positif dengan kinerja BS. Walaupun tidak berkorelasi positif, pendidikan doktor tetap diperlukan tetapi dengan latar belakang pendidikan hukum atau syariah, ekonomi termasuk keuangan atau akuntansi, dan muamalah. Karena latar belakang pendidikan tersebut terbukti memiliki hubungan positif yang signifikan dengan kinerja BS. Sedangkan DPS yang hanya berlatar belakang keuangan atau akuntansi tidak menunjukkan hubungan positif dengan kinerja BS. Selain itu, GCG menunjukkan hubungan positif yang sangat signifikan dengan kinerja BS. Hal ini menunjukkan bahwa tata kelola yang efektif dan efisien oleh Dewan Direksi, Dewan Komisaris, dan DPS melalui penerapan prinsip-prinsip GCG dan syariah yang lebih baik akan meningkatkan kinerja BS.

CEO hubris and Islamic banks’ performance: Investigating the roles of Sharia board vigilance and CEO power

The purpose of the study is to thoroughly outline how the hubris behavior of chief executive officers (CEO) is detrimental to Islamic banks’ (IBs) performance. Specifically, this study attempts to examine the role of the Sharia supervisory board (SSB), board vigilance, and CEO power in the relationship between CEO hubris behavior and decreased IBs’ performance. This study observes IBs’ performance during the period from 2014 to 2020 and develops eight models to test their determinants. Empirical testing of all models shows that CEO hubris has a detrimental impact on IBs’ performance. The moderating impact test shows the following results: firstly, the presence of SSB, which is represented by the reputation of its members, reduces the detrimental impact of hubris behavior by CEOs on IBs’ performance, while that impact, which is represented by member expertise, does not have a moderating effect. Second, the size and independence of the BOC both weaken the negative relationship between CEO hubris and IBs’ performance. Third, CEO power as represented by tenure and ownership has no moderating effect.

Apakah Frekuensi Rapat DPS, Profitabilitas dan Surat Berharga Syariah Berpengaruh pada Islamic Social Reporting Index?

<p class="bdabstract">This research aims to identify the factors that impact the Islamic Social Reporting of Sharia Banks in Indonesia. The dependent variable used is Islamic Social Reporting disclosure. At the same time, the independent variables are the meeting frequency of the sharia supervisory board, profitability, and the issuance of shariah securities. The population is all Islamic Banks listed on Financial Services Authority in Indonesia during the period 2014-2020. There are 11 companies selected as samples based on the purposive sampling method. This research uses the panel data regression tested by Eviews 11 software. The result found that the issuance of shariah securities had a positive impact. Although, the meeting frequency of shariah supervisory boards and profitability had no impact on Islamic Social Reporting. These results can be used as a reference for further research on the impact meeting frequency of shariah supervisory board, profitability, and the issuance of shariah securities. In addition, it can also be used as knowledge for companies that the issuance of Islamic securities can be a tool for Islamic banks to disclose Islamic Social Reporting fully. It is hoped that the government will make official standard rules regarding social responsibility reporting for Islamic entities.</p><p><em> </em></p><p><strong><em>Keywords: </em></strong><em>Islamic Social Reporting;<strong> </strong>meeting frequency of shariah supervisory board; profitability; sharia securities issuance</em></p>