Kesiapan Adaptasi Metode Beyond Budgeting Sebagai Upaya Pembaharuan Manajemen Kinerja (Studi pada Urban Style by Front One Hotel, Lampung, Sumatera Selatan)

This study aims to test the possibility of implementing control management using the beyond budgeting method. The method consists of 12 principles consisting of 6 principles of adaptive management and 6 principles of flexible organizational structure. This research was conducted with qualitative research by conducting a case study on a company in the hospitality sector (Urban Style by Front One Hotel in Lampung). Urban Style by Front One Hotel still uses a traditional budgeting system whose method does not create satisfaction for management in achieving it. Therefore, researchers try to introduce adaptive control management for the business environment, namely beyond budgeting Respondents in this study were the Management Team (GM and Staff) of Urban Style by Front One Hotel which consisted of General Manager, Human Resource Development, Front Office, Food and Baverage, Accounting and Finance, House Keeping, and Engineering. The data is primary data obtained by distributing questionnaires and interviews to the management team at Urban Style by Front One Hotel, respondents filled out questionnaires and interviews through zoom media because during the COVID-19 pandemic they could not conduct interviews directly. Data analysis using calculations introduced by de Waal (2003) which is symbolized by 3 colors, namely Green (ready), Orange (medium) and Red (not ready). The results showed that Urban Style by Front One Hotel could not apply the Beyond Budgeting method even though there was a desire to apply this method, relatively low readiness for change and there were corporations that had higher authority to change methods in management control.Keywords: Traditional Budget; Beyond Budgeting.

The Effect of Financial Literacy on Malang District Society’s Financial Behavior

This study aims to analyze the effect of financial literacy on financial behavior in the community in Malang district. The design and approach used is the mix method. The data used in this study are primary in the form of literacy and financial behavior of the public, and secondary data in the form of financial institution information in the Malang Regency. Samples of farmers in 33 districts were selected using Multi Stage Random Sampling. Data was collected by observing, interviewing and distributing questionnaires. The result showed that the interaction between financial literacy and finance house significantly affects financial behavior. Financial literacy is to have the ability and knowledge of concept and risk, and skill to make more effective decision in finance individually, in a family, and in society. The finance house would help the society to know how to come into decision in managing their finance. It would change the society’s behavior from having lack of knowledge, ability, and belief in financial products and services to having them comprehensively, including knowing features, risks, and advantages of financial products and services. Additionally, it is expected that the society would have ability in using the financial products and services.

The estimation of banking industry staffing level benchmark: A case study on Kuwaiti banks

This study aims to examine whether or not Kuwaiti banks are overstaffed based on the data of ten Kuwaiti banks listed at Kuwait stock exchange (KSE) over the period 2010-2018. Using panel regression analysis, the results show that six banks were overstaffed while the remaining four banks were understaffed. Kuwait Finance House (KFH) was the most overstaffed bank in Kuwait while Commercial bank was the most understaffed bank. Gulf bank was the closest to the estimated number of staff followed by AlAhli bank. The results also revealed that there was a statistically significant inverse relationship between staffing level and return on assets (ROA) while, on the other hand, there was a statistically significant direct relationship between total assets and the number of branches with staffing level.

Application of Ijma’ in Modern Islamic Finance Rulings: Does Ijma’ Really Exist? A Literature Review

Despite different views among scholars about the position of Ijma’ as a source of Shari’ah and about the possibility of Ijma’ to take place in its classical form in the contemporary times, the authenticity of it is proved by the Qur’an and Sunnah and the authority of Ijma’ is unanimously agreed. Hence the aim of the paper is to find out whether Ijma’ takes place in the contemporary Islamic Finance Fiqhi rulings or not. Based on document analysis that is the resolutions of different Shari’ah bodies like OIC Fiqh Academy, AAOIFI, SC of Malaysia, Kuwait Finance House, Dhallah of Baraka, Dubai Islamic Bank, Al-Rajhi Bank as well as different books and articles on Ijma’, this paper tries to get clear ideas about the classical and contemporary view of Ijma’ and also tries to find out unanimous agreement of Mujtahids on Islamic Finance rulings. Findings reveal that as per its classical definition Ijma’ does not take place in the contemporary Islamic finance, as no claim is found in favor of it. However, few rulings related to Islamic Finance are agreed by all Mujtahids of different Fiqh academy/ organizations and Shari’ah scholars which are the results of collective Ijtihad of Mujtahids of the current world and are binding in nature, so can be said are the results of Ijma’ of contemporary scholars.

A Reconsideration of Middle Eastern Islamic Bank Practices in Malaysia

Middle Eastern Islamic banks’ contributions to product development in Malaysia have been frequently highlighted; nonetheless, there has been a research gap on the adaptation of foreign Islamic banks to the Malaysian market. This study examines this aspect through a case study of the practices of Kuwait Finance House Malaysia Berhad (KFHMB) among these foreign banks. The results of this exploration highlight the impact of Malaysian business customs and culture on KFHMB’s banking product selection, especially on the retail banking side. The findings herein imply that regional differences in products between Malaysia and the Middle East derive from differences in market environments rather than from mere differences in Islamic jurisprudence, as previous studies claim. Ultimately, this study asserts the value of an ethnographic approach to studying Islamic banks’ adaptation to foreign markets, especially considering the KFHMB’s dilemma of facing religious ideals versus market realities.

MODEL PENDAMPINGAN PEMBIAYAAN MIKRO PADA MAHASISWA BERBASIS ENTREPRENEURSHIP

<p><em>Increasing entrepreneurial spirit requires new breakthroughs. The aim is to increase entrepreneurial spirit to students in business establishments. The development of a microfinance mentoring model based on entrepreneurship can educate students to participate in reducing the number of poverty and unemployment. The purpose of this study was to design a microfinance mentoring model for entrepreneurship-based students at the El Dinar Finance House Laboratory. Financing assistance model uses matching programs to courses related to finance and business, for example, the business plan courses that are followed by students of entrepreneurial concentration and financing analysis courses followed by students of financial concentration. Lecturers in each courses coordinate with the laboratory team regarding real-time mentoring and evaluation of student practice. The assistance carried out by El-Dinar Finance House is 1) Monitor the mutation of the customer's bank account, 2) Monitor the repayment of installments, 3) visit the customer's business location to directly monitor the business operations and business development (financial statements), 4) monitor against the development of similar businesses through mass media or other media.</em></p><p><em> </em></p>

The Implementation of Islamic Corporate Governance (ICG) on Sharia Banking in Indonesia

In 2001, a financial institution in Turkey went bankrupt. The financial institution is "Ihlas Finance House". The cause of the bankruptcy of financial institutions according to Islamic finance economists is as a result of weaknesses in the internal and external mechanisms of corporate governance. The purpose of writing this article is to find out how the implementation of Islamic Corporate Governance in Islamic Banking. The method used in this article to answer the research question is a literature study. The results of this study indicate that Islamic banking financial institutions in Indonesia have not fully implemented Islamic Corporate Governance (ICG). The implementation of Islamic Corporate Governance (ICG) that has not been fully implemented is sharia compliance (syari'ah compliance). Sharia compliance in Islamic bank financial products. Conclusion of this article: 1. Implementation of Islamic Corporate Governance (ICG) in Islamic banking is accommodated in the Sharia Banking Law and Bank Indonesia Regulations; 2. Islamic Corporate Government (ICG) can be seen from the establishment of Sharia Supervisory and Sharia Compliance Board in Islamic banking; and 3. Islamic banking in Indonesia does not yet fully implement Islamic Corporate Governance (ICG) in sharia compliance for Islamic financial products.

The efficiency of Islamic banks in Malaysia: Based on DEA and Malmquist productivity index

This paper aims to investigate the impact of liberalisation move by Bank Negara Malaysia (BNM) towards the efficiency of domestic and foreign Islamic banks (IBs) in Malaysia. This is consequence of decision of BNM that awarded licenses to three international IBs, namely Kuwait Finance House (KFH), Al Rajhi Bank, and Asian Finance Bank in 2005. In addition, this study takes into consideration the existing foreign banks in the country that operate via Islamic banking subsidiaries as part of foreign IBs. The research evaluates the impact of foreign Islamic banks in Malaysia by measuring their contribution to the growth of the Malaysian Islamic banking industry. Using a sample of 16 IBs in Malaysia from 2008 to 2015, the study uses Data Envelopment Analysis (DEA) in measuring the efficiency level of each bank and comparative between the performance of domestic and foreign IBs in the country. The paper also employs the Malmquist Productivity Index to gauge the changes in its components between the same subjects and timeframe. The DEA results showed that the domestic Islamic banks are considered more efficient than most domestic Islamic banks outperforming the foreign Islamic banks. Banks like Hong Leong Islamic, Maybank Islamic, Public Islamic, and RHB Islamic are considered among the top performers for technical efficiency and scale efficiency. The study also found that based on the Malmquist Productivity Index, the least efficient banks based on DEA have improved in technical efficiency, technology, and total factor productivity (TFP).

MEWUJUDKAN LEMBAGA KEUANGAN MIKRO SYARIAH BERBASIS LABORATORIUM

Educational institutions have a challenge to improve the quality of graduates who are highly competitive namely graduates who are able to adapt quickly to the work environment. This is a key indicator of the “links and match” between human resources need and education laboratories. The role of the real laboratory is very important to be used as a learning resource for Islamic banks as well as a medium of socialization or education within the scope of the academic community. This paper seeks to provide an overview based on the author's experience to realize or establish a real transaction laboratory for El-dinar Finance House, starting from the pioneering stage to the technical implementation which is synergized with the student learning model.