Advancing inclusive growth in Nigeria: The role of financial inclusion in poverty, inequality, household expenditure, and unemployment

This study employs ARDL bounds testing technique to examine the effect of financial inclusion on inclusive growth in Nigeria, using quarterly data from 2007-2018. The empirical evidence reveals the presence of cointegration between financial inclusion indicators (account ownership, access to bank, ATM and credit, loans to SMEs and internet usage) and inclusive growth (poverty, household expenditure, employment, and per capita income). The results demonstrate that, while increase in account ownership, and access to bank and ATM raise poverty, and access to credit, loans to SMEs and internet usage reduces employment and per capita income in the long-run, it was also discovered that access to credit reduce poverty and increase household consumption, while account ownership and access to bank increases employment and per capita income in the long-run. In the short-run: lag of account ownership, access to ATM and credit, loan to SMEs and internet usage reduces poverty; lag of household expenditure, account ownership, and access to ATM and lag of internet usage increases household expenditure; lags of access to ATM and lags of internet usage (and account ownership and access to bank) increases employment opportunities (and per capita income); and access to ATM and credit reduces employment and per capita income respectively.

Mudhohi's decision to implement qurban in zakat institutions : a case study in Rumah Zakat institution

There has been a decline in animal sacrifice in 2012 at LAZ Rumah Zakat. There is a phenomenon that customers are not satisfied with Rumah Zakat services. Thus several factors can influence mudhohi's decision to sacrifice in zakat institutions. Based on these problems the formulation of the research problem is how mudhohi sacrifices decisions at zakat institutions. The research method used is a qualitative method with a descriptive analysis approach. Data collection techniques with interviews to 100 mudhohi. The result is that mudhohi's decision to sacrifice at Rumah Zakat is 93% mudhohi will sacrifice again. Mudhohi's decision to make sacrifices at Rumah Zakat is due to the longer value of superqurban benefits, distribution throughout the country, offering affordable prices, product innovation in the form of corned beef and rendang cans, simple processes, and voucher offers.

Application of maqâṣid al-sharî’ah in murâbahah contract in sharia financial institutions

The development of the Islamic finance industry, especially Islamic banking, demands product innovation. Based on its business activities, Islamic banking implements three types of business activities, there are fundraising, distribution, and banking service activities. The Financing products that are widely used are Murâbahah contracts. The implementation of Murâbahah in Lembaga Keuangan Syariah (LKS) has been modified, so that the sharia signs and spirits are needed to remain in the sharia corridor. This type of research is library research with normative juridical methods. The results showed that Maqâṣid al-syarî'ah is an important component in Islamic financial institutions. Because, without the implementation of Maqâṣid al-syarî'ah in the development system of Islamic financial institutions, muamalah products are developed, banking and financial regulations will be rigid and static, consequently Islamic banking and financial institutions will be difficult to develop.

The influence of ZIS fund distribution, social aid shopping, and subsidy shopping to poverty in Indonesia

Indonesia has 10 percent of the poor population. Getting rid of that poverty gap, instruments that have been made are needed. One of the instruments is the distribution of ZIS funds by the National Amil Zakat Agency (BAZNAS), then spending aid social services by the central government, and subsidy spending by the central government. Then with this poverty problem, the importance of emphasizing the distribution of ZIS funds in Indonesia, spending on social assistance, spending on subsidies, and research on poverty. This study aims to analyze the effect of ZIS funds distribution, Social Aid Expenditures, and Subsidy Expenditures on poverty in Indonesia in the 2013-2017 period. The sample of this study consisted of 4, namely ZIS data obtained at the National Amil Zakat Agency (BAZNAS), then spending on social aid, expenditure on subsidies, and finally, data on poverty obtained from the Central Statistics Agency (BPS). The method used is a quantitative method by testing the classical assumptions. The results of this study are according to the results of the F test that the three independent variables (ZIS, Social Aid, and Subsidies) simultaneously influence the dependent variable (poverty).

Shortcomings and proposed reforms in the existing shariah governance of islamic banking

Since its inception a few decades ago, the Islamic banking and finance industry has been self-regulated with regards to Shariah governance. Despite the existence of certain regulatory authorities from within the industry, such as Accounting and Auditing for Islamic Financial Institutions (AAOIFI) and Islamic Financial Services Board (IFSB), none of their resolutions or standards are effectively binding. Few countries have enforced some rules related to Shariah-governance. Still, in most cases, these rules did not go beyond the requirement of formulating Shariah controlling bodies, which is practically left to the banks themselves. Islamic banks are almost left to choose or dismiss their Shariah controllers, and no clear criteria are set by any authority to ascertain the proper qualifications of the Shariah controllers. Moreover, some of the Shariah standards and fatwas are found to conflict with the established resolutions issued by Fiqh academies. These matter point to the deficiencies in the existing Shariah governance and hence the need to address them.

Analysis of strategies zakat, infaq, and alms collection at BAZNAS Semarang Regency

Inhibitors of the Zakat collection in the BAZNAS Semarang Regency. This research uses descriptive qualitative research methods. The results showed that the strategy used to increase the collection of zakat, infaq, and sadaqah funds was through socialization, both directly and indirectly, and through pick-up service. The results of the SWOT analysis show that the Semarang Regency BAZNAS in carrying out the collection of zakat experiences several obstacles, but these obstacles can be overcome by the strength of the Semarang Regency BAZNAS. From several aspects caused by weakness, BAZNAS of Semarang Regency is still categorized as a stable position, considering that BAZNAS Semarang Regency is still able to implement programs and has tried to innovate to increase the collection of zakat, infaqs, and sadaqah in the future. The author recommends that the Semarang Regency BAZNAS pay more attention to intensive and continuous work program socialization, as well as enlightenment to the public about the primacy of ZIS payments through the BAZNAS that does not reduce virtue and reward, compared to being channeled directly to mustahik.

Financial inclusion and women participation in gainful employment: an empirical analysis of Nigeria

The paper examines the effect of financial inclusion on women participation in gainful employment in Nigeria for the period 1980 – 2018, employing the ARDL method. Both in the short run, and long-run the results obtained indicated a positive relationship between financial inclusion and women participation in gainful employment. Thus, the paper recommends that the government should ensure that the barriers to financial inclusion is reduced or removed. This will increase women participation in economic activities, since measures regarding financial inclusion is adjudged as convenient, safety and prompt. Measures that will enhance private deposit and expansion of more commercials banks branch in rural areas to enhance women’s access to financial services which discourage the use of informal financial services should be encouraged.