Islamisation of Microfinance program in The Gambia

The Gambia is a 95 percent Muslim that is located in the western part of Africa. The population of the country is just around 2.5 m. The Gambia is largely dependent on Agriculture, tax and foreign aid and is ranked 178, in the Human Development Index 2019, the Gambia is classified as a country with medium human development. Currently there are various microfinance program that has been existing for years, but none of them are having Islamic microfinance loan products, as a result some did not take their loans and even those who take it is hard to change their lives, because it is purely for profit making and also the higher interest rate. Islamic Microfinance would be the best kind of development instrument for the population of Gambia. The microfinance institutions in the Gambia are very well expanded, they are the main source of credit to the Gambian population both rural and urban. Therefore it will be very important if microfinance institutions in the Gambia can introduce Islamic microfinance. The objective of this paper is to suggest ways to Islamize microfinance in The Gambia and the benefits Islamic microfinance. It is anticipated that the outcome of this paper would complement efforts by the government and NGO in the fight to eradicate poverty in the Gambia.

Performance and Sustainability of Halal Food Smes

This study investigates the performance and sustainability of halal food SMEs in the FinTech era. The large aggregate contribution of SMEs does not yet reflect good performance in domestic and foreign market competition due to lack of financial literacy. FinTech can support financial literacy so performance and sustainability SMEs will increase. Consequently, testing the effect of fintech and literacy on the performance and sustainability of MSMEs. A total of one hundred respondents are selected using the quantitative method as sources of data collection. The questionnaires are distributed using a purposive sampling method in Surakarta, Indonesia. The software used for analysis is SEM-PLS. The results of this study state that the performance and sustainability of SMEs are influenced by FinTech and financial literacy

Realization and Contribution Sukuk Retail, Savings, and Retail's Waqf During The 2020 Covid-19 Pandemic

Covid-19 entered Indonesia around March 2020, having an impact on economic growth. Indonesia during 2020 minus 2.07 percent of its economy. This economic decline was caused by Covid-19 which had an impact on the economic activities of residents. Throughout 2020 the government issued 4 series of Sukuk, retail Sukuk SR0012 and SR013, savings Sukuk series ST007 and finally retail Sukuk waqf SWR001. The purchase realization of SR012 was IDR 12,142 trillion, and SR013 was IDR 25,667 trillion. Then ST007, the funds that were collected were Rp. 5.18 trillion and the retail Sukuk waqf series SWR001 as much as Rp. 14.91 billion. Despite the minus economy, the Sukuk is still in demand by the Indonesian people. For own contribution, retail Sukuk funds are used for infrastructure development such as bridges, Hajj boarding buildings, construction of railroads, and others. Meanwhile, savings Sukuk are allocated for economic recovery and eligible green projects. Finally, retail waqf Sukuk is used for financing social activities and empowering people, such as the construction of an eye hospital for the poor and others.

Analysis of Savings and Loans Scheme by Family Welfare Empowerment Organization As a Fulfillment Solution for Muslim in the Pandemic Outbreak

This study aims to analyze the savings and loans scheme at the Family Welfare Empowerment Organization (FWEO) at the Neighborhood Association (NA) XY, Karanganyar Regency, during the Covid-19 pandemic outbreak. This study uses a qualitative approach with the method of observation and interviews. Observations observe the object of research when transacting savings and loans and the distribution of residual income. Interviews confirmed people who are directly related to the savings and loans activities at FWEO of NA XY including the chairperson, fund administrator of FWEO and Muslim borrowers.The results of the study show that the savings and loans activities at FWEO of NA XY are family-based community activities and prioritize the principle of ta'awun or mutual assistance. One of the assistance is given to Muslims members of FWEO and suffering from financial difficulties during the pandemic outbreak. The principle of ta'awun is reflected by the scheme of savings, loans and the ease use of residual income and based on trust among members. This fact supports the findings that the existence of FWEO in NA XY makes it easier for Muslims to obtain funds as well as to ease the economic burden, especially for those affected by Covid-19.

Escalation of Online Zakat in New Normal

Now adays, the world is still struggling in dealing with Covid-19 and all the effects it causes. This condition has many impacts, including on the socio-economic sector and can be overcome by increasing zakat income. Given the extremely dangerous nature of the transmission of the corona virus, WHO recommends the use of digital money. This also applies to the payment of zakat through e-zakat (online payment of zakat). This study aims to determine the factors that influence Muzakki's decision to pay zakat online.This study uses a younger generation as a sample because of its role as the largest internet users who are able to easily learn the latest technology. This research contributes to providing new insights regarding the factors that influence consumers in using e-zakat. This research has implications for amil zakat institutions to innovate through e-zakat services and improve their services so that more consumers can serve so that the number of users will increase. Research instrument used to obtain data was a likert scale questionnaire. The research model used is the Structural Equation Model (SEM) and analyzed using PLS to test the measurement model and the structural model simultaneously. Based on the results of hypothesis testing, e-wom and religiosity have a positive effect on the decision to pay zakat. Meanwhile, the intention variable proved insignificant in moderating the relationship between e-wom and religiosity towards the decision to pay zakat online. Keywords: e-wom, religiosity, intention, decision

Pengaruh Pendapatan Perkapita, Suku Bunga, Populasi dan Zakat Terhadap Tingkat Konsumsi Rumah Tangga di Indonesia

The phenomenon of consumption levels in Indonesia is an important concern today. This is suspected or proven by non-economic economic factors. In this study, the factors that become exogenous variables in the observation include per capita income, interest rates, population and zakat distribution. This analysis uses descriptive and associative methods to fully describe each variable and also the relationship between exogenous variables and endogenous variables in the form of consumption levels. The data used is in the form of a data panel with data crosses six times with observation time from 2013 to 2018. The results of this study indicate that partially per capita income, population and zakat have a positive and significant effect on the level of household consumption in Indonesia. Meanwhile, the interest rate has a negative and significant effect on the Household Consumption Level in Indonesia.

The Impact of Various Mode of Financings in Reducing Inequality in Various Groups of Countries

The existence of Islamic bank not always provide positive impact to the real sector of economy. Declining inequality is one of the expected significant impacts with appyling mode of financing as instrument to relize that. This study aims to investigate the impact of mode of financing was applied by Islamic bank to reduce inequality among countries of IsDB Group. World bank data and IDB data of Islamic banks are employed as samples from 1977 to 2018. The results show that equity and leasing have a positive effect and significant to reduce inequality for low income countries, where the leasing or ijarah have the most effective impact than all. In addition, instalment sale of financing has a significant impact to reduce inequality for middle-income countries, loan is being the only significant mode of financing to reduce inequality in all IDB countries. Unfortunately, Mudharabah, PLS (profit and loss sharing), Murabahan and Istishna have not significantly impact to reduce inequality

Bank Wakaf Mikro Usaha Mandiri Sakinah: Pemberdayaan Ekonomi Perempuan Universitas Aisyiyah Yogyakarta

Bank Wakaf Mikro (BWM) Usaha Mandiri Sakinah merupakan BWM pertama berbasis universitas di Indonesia. Di bawah naungan Universitas Aisyiyah (UNISA) Yogyakarta, BWM ini fokus pada penyediaan akses pembiayaan dan pemberdayaan perempuan pelaku usaha kecil dan mikro. Kegiatan pemberdayaan tesebut terwujud melalui program pelatihan dan pendampingan. Tulisan ini merupakan hasil analisis terhadap etos gerakan BWM Usaha Mandiri Sakinah. Bagaimana pandangan Aisyiyah memengaruhi gerakan BWM Usaha Mandiri Sakinah? Bagaimana langkah BWM Usaha Mandiri Sakinah dalam mengupayakan pemberdayaan ekonomi perempuan? Sejauh apa dampak langkah tersebut bagi perempuan pelaku usaha kecil dan mikro? Tulisan ini berargumen bahwa BWM adalah salah satu alternatif yang dapat dilakukan untuk menyediakan akses bagi pengembangan ekonomi kecil dan mikro, serta berdampak bagi kemampuan produktif dan eksistensi perempuan dalam menentukan keputusan.

Pengaruh Islamic Branding dan Religiusitas Terhadap Minat Masyarakat Muslim dalam Berwakaf Uang

This study aims to look at the influence of islamic branding variables, religiosity variables and attitude variables on the interest of Muslim communities in representing money. This study uses a quantitative approach and Partial Least Squares-Structural Equation Modeling as a data analysis method used to analyze the factors that affect the interest of Muslim communities in the representation of money. Respondents are Muslim communities who have had 141 respondents. The results showed that the Islamic branding variable had a positive and significant effect on attitudes, then the religiosity variable had a positive and significant effect on attitudes.

Performance Analysis of Islamic Micro Finance Institutions on Sustainable Rural Development in Indonesia

This study aims to analyze the influence of the performance of Islamic microfinance institutions (MFIs) in strengthening the agricultural and fisheries sector to realize sustainable rural development. The study uses quantitative method and purposive sampling method. The sample of this study was 85 agricultural and fishery business actors in Central Java, Indonesia. The variable quality of service, accessibility and philanthropic characteristics of Islamic MFIs towards sustainable rural development which mediated by strengthening of the agricultural and fisheries sector. The urgency of this research is to establish a financing model for the agriculture and fisheries sector. This study uses primary data which collected through filling out the questionnaires by business actors in the agriculture and fisheries sector. The results showed that 1) the service quality of Islamic MFIs had no impact on strengthening the agricultural and fisheries sector 2) accessibility of Islamic MFIs had a positive impact on strengthening the agricultural and fisheries sector 3) philanthropic characteristics had a positive impact on strengthening the agricultural and fisheries sector 4) strengthening the agriculture and fisheries sector has a positive impact on sustainable rural development. This research can be used as a model for channeling customer funds to finance Islamic MFIs