Pub Date : 2019-09-01DOI: 10.23917/jisel.v2i2.8595
S. Nurbaya, Azhar Alam
Profitability is one benchmark to show a company operational performance. Various factors influence the amount of profitability. This research aims to analyze the influence of the amount of premium income, total investment, claims expense and operational costs on the profitability gained during the period 2011-2017. This paper conducts multiple linear analysis, namely OLS (Ordinary Least Square) with secondary data in the form of time-series data. The results of the t-test indicate that the claims expense variable has a negative and significant effect. Meanwhile, the operational cost variable has a positive and significant impact. On the contrary, the premium variable and the amount of investment both have a positive but not significant effect. Moreover, the results of the F test show that the variables of premium, investment, claims expense and operating costs have a considerable impact on the profitability of Sinar Mas Islamic Insurance.
盈利能力是衡量公司经营业绩的一个基准。各种因素影响着盈利能力的大小。本研究旨在分析2011-2017年期间保费收入金额、总投资、理赔费用和运营成本对盈利能力的影响。本文对二次数据以时间序列数据的形式进行多元线性分析，即OLS (Ordinary Least Square)。t检验结果表明，理赔费用变量具有显著的负向影响。同时，运营成本变量对企业绩效有显著的正向影响。相反，溢价变量和投资金额都有正但不显著的影响。此外，F检验结果表明，保费、投资、理赔费用和运营成本等变量对金光伊斯兰保险的盈利能力有相当大的影响。
{"title":"Analysis of Factors Affecting Islamic Insurance Profitability (Case Study Of Sinar Mas Islamic Insurance Period 2011-2017)","authors":"S. Nurbaya, Azhar Alam","doi":"10.23917/jisel.v2i2.8595","DOIUrl":"https://doi.org/10.23917/jisel.v2i2.8595","url":null,"abstract":"Profitability is one benchmark to show a company operational performance. Various factors influence the amount of profitability. This research aims to analyze the influence of the amount of premium income, total investment, claims expense and operational costs on the profitability gained during the period 2011-2017. This paper conducts multiple linear analysis, namely OLS (Ordinary Least Square) with secondary data in the form of time-series data. The results of the t-test indicate that the claims expense variable has a negative and significant effect. Meanwhile, the operational cost variable has a positive and significant impact. On the contrary, the premium variable and the amount of investment both have a positive but not significant effect. Moreover, the results of the F test show that the variables of premium, investment, claims expense and operating costs have a considerable impact on the profitability of Sinar Mas Islamic Insurance.","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-09-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45491440","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-01DOI: 10.23917/jisel.v2i2.8593
Rifanatus Sarah Dzatihanani, I. Rosyadi
In August 2018 the Religious Court accepted the Sharia Rural Bank Al-Mabrur, located in the city of Klaten, application as plaintiff under number 1135 / Pdt.G / 2018 / PA / Klt. They sued Tri Suyatmi and Panut Basuki, for their violation of disobeying the Murabaha contract number: 2414 / APJBM / AL MABRUR / VI / 2017. Based on the case above, a review of decision number 1135 / Pdt.g / 2018 / PA.Klt will be examined. In this article, we will review first of all, what is the basis for the consideration of the Klaten Religious Court judges in completing case number 1135 / Pdt.g / 2018 / PA.Klt. Secondly, Is the Religious Court judge's decision regarding the Murabaha contract in the Sharia Rural Bank Al-Mabrur in accordance with the DSN-MUI Fatwa? This research is a type of qualitative research, which uses an evaluative method that is by measuring certain benefits and activities, as well as collecting and analyzing data systematically to determine the value or benefits of the contents of decision file number 1135 / Pdt.g / 2018 / PA.Klt. The data were obtained from observations, interviews with Judges and Clerks of the Klaten Religious Court, and documents in the Religious Courts. Based on the results of the study it can be concluded that: 1) Judge's decision on case number 1135 / Pdt.g / 2018 / PA.Klt is to declare legal Murabaha contract number 2414 / APJBM / AL MABRUR / VI / 2017, 2) Defendant is proven to have defaulted and must pay material compensation of Rp. 36,269,864 and pay the costs of the case, 3) The legal basis used by the Panel of Judges in setting decisions is in accordance with Islamic Economic Law, namely using the Fatwa of the Sharia Council of the Indonesian Ulema Council (DSN-MUI) concerning the Murabaha contract
2018年8月，宗教法院受理了位于克拉滕市的Sharia Rural Bank Al Mabrur作为原告的申请，申请编号为1135/Pdt.G/2018/PA/Klt。他们起诉Tri Suyatmi和Panut Basuki违反Murabaha合同编号：2414/APJBM/AL MABRUR/VI/2017。根据上述情况，将审查第1135/Pdt.g/2018/PA.Klt号决定。在这篇文章中，我们将首先回顾，克拉滕宗教法院法官在完成第1135/Pdt.g/2018/PA.Klt号案件时的考虑依据是什么。其次，宗教法院法官关于Sharia Rural Bank Al Mabrur的Murabaha合同的决定是否符合DSN-MUI Fatwa？这项研究是一种定性研究，它使用了一种评估方法，即通过测量某些利益和活动，以及系统地收集和分析数据，来确定决策文件编号1135/Pdt.g/2018/PA.Klt内容的价值或利益，对克拉滕宗教法院法官和书记官的采访以及宗教法院的文件。根据研究结果，可以得出结论：1）法官对案件编号1135/Pdt.g/2018/PA.Klt的裁决是宣布Murabaha合同编号2414/APJBM/AL MABRUR/VI/2017合法，2）被告被证明违约，必须支付36269864卢比的物质赔偿金并支付案件费用，3）法官小组在作出裁决时使用的法律依据是根据《伊斯兰经济法》，即在Murabaha合同方面使用印度尼西亚乌雷马委员会（DSN-MUI）伊斯兰教法委员会的Fatwa
{"title":"Murabaha Dispute Settelement In A Sharia Rural Bank of Klaten","authors":"Rifanatus Sarah Dzatihanani, I. Rosyadi","doi":"10.23917/jisel.v2i2.8593","DOIUrl":"https://doi.org/10.23917/jisel.v2i2.8593","url":null,"abstract":"In August 2018 the Religious Court accepted the Sharia Rural Bank Al-Mabrur, located in the city of Klaten, application as plaintiff under number 1135 / Pdt.G / 2018 / PA / Klt. They sued Tri Suyatmi and Panut Basuki, for their violation of disobeying the Murabaha contract number: 2414 / APJBM / AL MABRUR / VI / 2017. Based on the case above, a review of decision number 1135 / Pdt.g / 2018 / PA.Klt will be examined. In this article, we will review first of all, what is the basis for the consideration of the Klaten Religious Court judges in completing case number 1135 / Pdt.g / 2018 / PA.Klt. Secondly, Is the Religious Court judge's decision regarding the Murabaha contract in the Sharia Rural Bank Al-Mabrur in accordance with the DSN-MUI Fatwa? This research is a type of qualitative research, which uses an evaluative method that is by measuring certain benefits and activities, as well as collecting and analyzing data systematically to determine the value or benefits of the contents of decision file number 1135 / Pdt.g / 2018 / PA.Klt. The data were obtained from observations, interviews with Judges and Clerks of the Klaten Religious Court, and documents in the Religious Courts. Based on the results of the study it can be concluded that: 1) Judge's decision on case number 1135 / Pdt.g / 2018 / PA.Klt is to declare legal Murabaha contract number 2414 / APJBM / AL MABRUR / VI / 2017, 2) Defendant is proven to have defaulted and must pay material compensation of Rp. 36,269,864 and pay the costs of the case, 3) The legal basis used by the Panel of Judges in setting decisions is in accordance with Islamic Economic Law, namely using the Fatwa of the Sharia Council of the Indonesian Ulema Council (DSN-MUI) concerning the Murabaha contract","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"42741137","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-01DOI: 10.23917/jisel.v2i2.8585
Filka Catur Windiastuti, Fauzul Hanif Noor Athief
The existence of money makes buying and selling activity easier than the barter system. However, the increasing globalization of the world economy demands speed accelaration, ease and security of financial transactions. The discovery of cryptocurrency provides solution for the current payment system which relies highly on the third party in conducting digital transactions. One of those cryptocurrency products is Inacoin which is originated from Indonesia. Because this cryptocurrency is a contemporary problem that cannot be concluded directly from the classical fiqh book, a thorough investigation is needed to obtain the validity of this money from Islamic perspective. This research is a qualitative research that uses multimethod of normative-empirical Islamic law perspective in discussing the aforementioned problem. This study concluded that the existence of Inacoin cannot be accepted as money since there are Islamic requirements or criteria that are not met. In addition, the use of Inacoin is mostly for trading commodity, not as money. The Inacoin trade is legitimate but unlawful, because Inacoin has fulfilled the pillars and requirements of the Al-Ṣarf, yet contradicted some Islamic principal such as maisir, gharar, and possibility of harming its user
{"title":"Inacoin Cryptocurrency Analysis: An Islamic Law Perspective","authors":"Filka Catur Windiastuti, Fauzul Hanif Noor Athief","doi":"10.23917/jisel.v2i2.8585","DOIUrl":"https://doi.org/10.23917/jisel.v2i2.8585","url":null,"abstract":"The existence of money makes buying and selling activity easier than the barter system. However, the increasing globalization of the world economy demands speed accelaration, ease and security of financial transactions. The discovery of cryptocurrency provides solution for the current payment system which relies highly on the third party in conducting digital transactions. One of those cryptocurrency products is Inacoin which is originated from Indonesia. Because this cryptocurrency is a contemporary problem that cannot be concluded directly from the classical fiqh book, a thorough investigation is needed to obtain the validity of this money from Islamic perspective. This research is a qualitative research that uses multimethod of normative-empirical Islamic law perspective in discussing the aforementioned problem. This study concluded that the existence of Inacoin cannot be accepted as money since there are Islamic requirements or criteria that are not met. In addition, the use of Inacoin is mostly for trading commodity, not as money. The Inacoin trade is legitimate but unlawful, because Inacoin has fulfilled the pillars and requirements of the Al-Ṣarf, yet contradicted some Islamic principal such as maisir, gharar, and possibility of harming its user","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":"1 1","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41350554","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-01DOI: 10.23917/jisel.v2i2.8679
Fiky Nila Mustika, Enis Setyowati, Azhar Alam
This study investigated the impact of ZIS (Zakat, Infaq, and Sadaqah) Gross Regional Domestic Products, Regional Minimum Wages, and Inflation on Poverty Levels in Indonesia during the 2012-2016 period. .This paper used secondary data in the panel data form. This research conducted a quantitative approach using panel data regression. Based on the results of the panel data testing, the best model chosen is the Random Effect Model (REM). Variables of gross regional domestic products and regional minimum wages have a significant effect on poverty levels in Indonesia while the variables of zakat, infaq, and shadaqah (ZIS) and inflation do not influence the level of poverty in Indonesia.
{"title":"Analysis Of Effect Of ZIS (Zakat, Infaq, And Shadaqah), Regional Domestic Products Of Bruto, Regional Minimum Wage And Inflation On Levels Poverty In Indonesia 2012 – 2016","authors":"Fiky Nila Mustika, Enis Setyowati, Azhar Alam","doi":"10.23917/jisel.v2i2.8679","DOIUrl":"https://doi.org/10.23917/jisel.v2i2.8679","url":null,"abstract":"This study investigated the impact of ZIS (Zakat, Infaq, and Sadaqah) Gross Regional Domestic Products, Regional Minimum Wages, and Inflation on Poverty Levels in Indonesia during the 2012-2016 period. .This paper used secondary data in the panel data form. This research conducted a quantitative approach using panel data regression. Based on the results of the panel data testing, the best model chosen is the Random Effect Model (REM). Variables of gross regional domestic products and regional minimum wages have a significant effect on poverty levels in Indonesia while the variables of zakat, infaq, and shadaqah (ZIS) and inflation do not influence the level of poverty in Indonesia.","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"41999049","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-07-01DOI: 10.23917/jisel.v2i2.8616
Riska Wijayanti, Kartika Marella Vanni
This study examines the authority of dispute settlement body of a bad financing in murabaha contracts with a collateral of Daihatsu VVTI car 13 XI DLX Year 2011 midnight black color. According to DSN Fatwa Number 04/DSN-MUI/IV/2000 concerning Murabaha the placement of fiduciary on murabaha contract objects is indeed permissible, but it becomes ambiguous when murabaha objects which are used as collateral in the financing process that have not been repaid are lost, causing late installment payments. The customer argued that the late payment was due to the embezzlement of murabaha objects by third parties beyond the expectations or control of the customer. This study also examines the legal liability for late settlement of murabaha sale and purchase by customers due to the loss of murabaha objects which at the same time become collateral in murabaha financing contracts. This research is normative legal research with a legal approach and a case approach. This study concludes that Religious Courts have the authority to decide disputes that occur between customers (mushtari) and sharia financial institutions (ṣahib al-māl) for late repayment of murabaha financing. Based on the principle of accountability based on the element of error, the customer (mushtari) has legal responsibility for his actions. Errors made by customers (mushtari) are in the form of negligence.
根据DSN关于Murabaha的第04/DSN- mui /IV/2000号法特瓦，Murabaha合同对象的受托人安置确实是允许的，但当在融资过程中用作抵押品的Murabaha对象丢失而未得到偿还，导致分期付款延迟时，它就变得模糊了。客户辩称，延迟付款是由于超出客户预期或控制的第三方盗用murabaha物品。本研究亦探讨顾客因遗失murabaha物件而造成的murabaha买卖逾期结算的法律责任，而murabaha物件同时成为murabaha融资合约的抵押品。本研究是一种法律方法与案例方法相结合的规范性法学研究。本研究的结论是，宗教法院有权裁决客户(mushtari)与伊斯兰金融机构(ṣahib al-māl)之间因murabaha融资逾期还款而发生的纠纷。基于基于错误要素的责任原则，客户(mushtari)对其行为负有法律责任。顾客(mushtari)犯的错误是以疏忽的形式。
{"title":"Fiduciary Dispute Settlement of Murabaha Contract in PT. Al-Ijarah Indonesia Finance","authors":"Riska Wijayanti, Kartika Marella Vanni","doi":"10.23917/jisel.v2i2.8616","DOIUrl":"https://doi.org/10.23917/jisel.v2i2.8616","url":null,"abstract":"This study examines the authority of dispute settlement body of a bad financing in murabaha contracts with a collateral of Daihatsu VVTI car 13 XI DLX Year 2011 midnight black color. According to DSN Fatwa Number 04/DSN-MUI/IV/2000 concerning Murabaha the placement of fiduciary on murabaha contract objects is indeed permissible, but it becomes ambiguous when murabaha objects which are used as collateral in the financing process that have not been repaid are lost, causing late installment payments. The customer argued that the late payment was due to the embezzlement of murabaha objects by third parties beyond the expectations or control of the customer. This study also examines the legal liability for late settlement of murabaha sale and purchase by customers due to the loss of murabaha objects which at the same time become collateral in murabaha financing contracts. This research is normative legal research with a legal approach and a case approach. This study concludes that Religious Courts have the authority to decide disputes that occur between customers (mushtari) and sharia financial institutions (ṣahib al-māl) for late repayment of murabaha financing. Based on the principle of accountability based on the element of error, the customer (mushtari) has legal responsibility for his actions. Errors made by customers (mushtari) are in the form of negligence.","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-07-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44501388","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-02-27DOI: 10.23917/JISEL.V2I1.7664
I. Huda
Pension fund is one of the non-bank financial institutions that manages and implements program to generate retirement benefits. Pension fund is one of potential resources of fund which operation can be based on either conventional or Islamic principle. This research will focus on the type of contracts used by Universitas Muhammadiyah Surakarta (UMS) Pension Fund whether its operation conforms the requirements of shariah princple or not. This research aims to know, elaborate and evaluate the conformity of shariah principle in the UMS Pension Fund operation. The type of research carried out here is qualitative with the descriptive evaluative approach. The data is obtained through observation, documentation and interview. The result of the research shows that the contracts used in managing the fund by UMS Pension Fund are muḍārabah, wakalah, ijārah and hibah. Muḍārabah contract is used between the pension fund and the participants as well as between pension fund and investee. Wakalah contract is used between the employer which is UMS in this case and the pension fund. Meanwhile, hibah contract is used between employer and participants.
{"title":"The Islamic Law Perspective of Universitas Muhammadiyah Surakarta Pension Fund Management","authors":"I. Huda","doi":"10.23917/JISEL.V2I1.7664","DOIUrl":"https://doi.org/10.23917/JISEL.V2I1.7664","url":null,"abstract":"Pension fund is one of the non-bank financial institutions that manages and implements program to generate retirement benefits. Pension fund is one of potential resources of fund which operation can be based on either conventional or Islamic principle. This research will focus on the type of contracts used by Universitas Muhammadiyah Surakarta (UMS) Pension Fund whether its operation conforms the requirements of shariah princple or not. This research aims to know, elaborate and evaluate the conformity of shariah principle in the UMS Pension Fund operation. The type of research carried out here is qualitative with the descriptive evaluative approach. The data is obtained through observation, documentation and interview. The result of the research shows that the contracts used in managing the fund by UMS Pension Fund are muḍārabah, wakalah, ijārah and hibah. Muḍārabah contract is used between the pension fund and the participants as well as between pension fund and investee. Wakalah contract is used between the employer which is UMS in this case and the pension fund. Meanwhile, hibah contract is used between employer and participants.","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45636514","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-02-27DOI: 10.23917/JISEL.V2I1.7706
Tari Lestari
One main problem that Indonesia’s agricultural sector faces is limited financial acces. This research tries to analyze Islamic Banking influence on agricultural financing sector in Indonesia. It utilizes monthly data of Islamic banking statistic from January 2014 until December 2016. This study conducts OLS (Ordinary Least Squares) as its analytical method to intrepret the data analysis. The finding of this paper shows that the incentive of Islamic Bank Indonesia Certificate (SBIS), third party fund, inflation, Non Performing Financing influence agricultural financing significantly. But, interest rate is not affecting agricultural financing. This research suggests the increase in agricultural financing proportion for agriculture should be in accordance with increase in total deposit value. This finding recommends improvement of the human resources competency in agriculture sector as well as strengthening instruments of Islamic financing policy.
印尼农业部门面临的一个主要问题是融资渠道有限。本研究试图分析伊斯兰银行对印尼农业融资部门的影响。它使用了2014年1月至2016年12月伊斯兰银行统计的月度数据。本研究采用OLS (Ordinary Least Squares)作为分析方法，对数据分析进行解释。研究发现，印尼伊斯兰银行证书(SBIS)激励、第三方基金、通货膨胀、不良融资对农业融资有显著影响。但是，利率并没有影响农业融资。研究表明，农业融资比重的增加应与存款总额的增加相适应。这一发现建议改善农业部门的人力资源能力，并加强伊斯兰融资政策工具。
{"title":"Analysis Of Islamic Bank Influence On Agricultural Financing Sector Period 2014-2016","authors":"Tari Lestari","doi":"10.23917/JISEL.V2I1.7706","DOIUrl":"https://doi.org/10.23917/JISEL.V2I1.7706","url":null,"abstract":"One main problem that Indonesia’s agricultural sector faces is limited financial acces. This research tries to analyze Islamic Banking influence on agricultural financing sector in Indonesia. It utilizes monthly data of Islamic banking statistic from January 2014 until December 2016. This study conducts OLS (Ordinary Least Squares) as its analytical method to intrepret the data analysis. The finding of this paper shows that the incentive of Islamic Bank Indonesia Certificate (SBIS), third party fund, inflation, Non Performing Financing influence agricultural financing significantly. But, interest rate is not affecting agricultural financing. This research suggests the increase in agricultural financing proportion for agriculture should be in accordance with increase in total deposit value. This finding recommends improvement of the human resources competency in agriculture sector as well as strengthening instruments of Islamic financing policy.","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"45941657","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-02-27DOI: 10.23917/JISEL.V2I1.6129
Dyah Ayu
This study aims to illustrate the concept of muḍāraba fund applied by BJSCS. The type of this research is descriptive and qualitative. This study describes the procedures and implementation of muḍāraba fund as well as its compliance with the Fatwa of DSN-MUI. The employed data in this study was obtained through interviews with the finansial officer as representatives of BJSCS who act as key informants. The results reveal that the concept of muḍāraba fund in BJSCS has not been fully in compliance with the Fatwa of DSN-MUI. It is based on firtsly, Fatwa of DSN-MUI number (6) stating that “The Sharia Finansial Institution as the provider of funds shall bear all losses resulting from muḍāraba unless the muḍarib (entrepreneur) makes a deliberate, negligent or counterproductive mistake." Secondly, Fatwa of DSN-MUI number (4c) stating that “Provider shall bear all losses resulting from muḍāraba, and the entrepreneur shall not bear any harm except from consequential errors, negligence or breach of consent.” In such cases the borrower shall bear the principal repayment. However, there is one thing that can bring BJSCS closer to Sharia compliance, that is, that the Bank does not do restructuring unilaterally. Rather, the bank and the customer come and sit together to discuss what is good for them. This initiatives finally eliminates the discrepancies. Although in fact we expect that the bank should be bearing all losses because the losses incurred are not the fault of the entrepreneur.
{"title":"Muḍāraba Fund of Bank Jateng Syariah Cabang Surakarta (BJSCS) According to Dewan Syariah National-Majelis Ulama Indonesia (DSN-MUI)","authors":"Dyah Ayu","doi":"10.23917/JISEL.V2I1.6129","DOIUrl":"https://doi.org/10.23917/JISEL.V2I1.6129","url":null,"abstract":"This study aims to illustrate the concept of muḍāraba fund applied by BJSCS. The type of this research is descriptive and qualitative. This study describes the procedures and implementation of muḍāraba fund as well as its compliance with the Fatwa of DSN-MUI. The employed data in this study was obtained through interviews with the finansial officer as representatives of BJSCS who act as key informants. The results reveal that the concept of muḍāraba fund in BJSCS has not been fully in compliance with the Fatwa of DSN-MUI. It is based on firtsly, Fatwa of DSN-MUI number (6) stating that “The Sharia Finansial Institution as the provider of funds shall bear all losses resulting from muḍāraba unless the muḍarib (entrepreneur) makes a deliberate, negligent or counterproductive mistake.\" Secondly, Fatwa of DSN-MUI number (4c) stating that “Provider shall bear all losses resulting from muḍāraba, and the entrepreneur shall not bear any harm except from consequential errors, negligence or breach of consent.” In such cases the borrower shall bear the principal repayment. However, there is one thing that can bring BJSCS closer to Sharia compliance, that is, that the Bank does not do restructuring unilaterally. Rather, the bank and the customer come and sit together to discuss what is good for them. This initiatives finally eliminates the discrepancies. Although in fact we expect that the bank should be bearing all losses because the losses incurred are not the fault of the entrepreneur.","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44931577","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-02-27DOI: 10.23917/JISEL.V2I1.6370
Wahyu Intan Kusumastuti, Azhar Alam
Islamic banks have been known as the resistant banks to the global crisis that hit Indonesia a few years ago. The unique maintenance of Islamic bank performance leads to business continuity. Some Islamic bank performance can be measured by its profitability. There are some factors that affect the profitability Islamic bank and used in this study including CAR, BOPO, and NPF. While the purpose of this study is to determine the effect of CAR, BOPO and NPF on the profitability of Islamic commercial banks. The population of this research is the Islamic commercial bank whose financial statements have been published to the statistics of Islamic banks from 2015 -2017. This research used secondary data from OJK website. Data analysis in this paper conducted multiple linear regression analysis method. The results of this study indicate that the BOPO variable has a significant effect on ROA. On the other hand CAR and NPF variables have no significant effect on ROA.
{"title":"Analysis of Impact of CAR, NPF, BOPO on Profitability of Islamic Banks (Year 2015-2017)","authors":"Wahyu Intan Kusumastuti, Azhar Alam","doi":"10.23917/JISEL.V2I1.6370","DOIUrl":"https://doi.org/10.23917/JISEL.V2I1.6370","url":null,"abstract":"Islamic banks have been known as the resistant banks to the global crisis that hit Indonesia a few years ago. The unique maintenance of Islamic bank performance leads to business continuity. Some Islamic bank performance can be measured by its profitability. There are some factors that affect the profitability Islamic bank and used in this study including CAR, BOPO, and NPF. While the purpose of this study is to determine the effect of CAR, BOPO and NPF on the profitability of Islamic commercial banks. The population of this research is the Islamic commercial bank whose financial statements have been published to the statistics of Islamic banks from 2015 -2017. This research used secondary data from OJK website. Data analysis in this paper conducted multiple linear regression analysis method. The results of this study indicate that the BOPO variable has a significant effect on ROA. On the other hand CAR and NPF variables have no significant effect on ROA.","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"48240793","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2019-02-27DOI: 10.23917/jisel.v2i1.7708
Erifa Aldiena, Muhammad Hanif al Hakim
It is commonly known that in the capital market, not all stocks of companies that have a good profile will provide good returns to investors. Therefore, an in-depth analysis of the companies’ overall health is needed. This study aims to discuss the impact of companies’ internal factors on the performance of their stock returns. The companies meant here are those listed in the Jakarta Islamic Index (JII). The tool by which the data is analysed is panel data which is a combination of time series data and cross section. By employing companies’data of year 2014-2016, the study shows that Return On Assets (ROA), Net Profit Margin (NPM), Debt to Equity Ratio (DER) and Price to Book Value (PBV) simultaneously had a significant effect on the formation of stock returns of companies listed in the JII. Likewise, those four variables namely; ROA, NPM, DER and PBV partially have a significant effect on the formation of stock returns of companies listed in the JII.
{"title":"The Impact of Companies' Internal Factors On The Performance of Their Stock Returns","authors":"Erifa Aldiena, Muhammad Hanif al Hakim","doi":"10.23917/jisel.v2i1.7708","DOIUrl":"https://doi.org/10.23917/jisel.v2i1.7708","url":null,"abstract":"It is commonly known that in the capital market, not all stocks of companies that have a good profile will provide good returns to investors. Therefore, an in-depth analysis of the companies’ overall health is needed. This study aims to discuss the impact of companies’ internal factors on the performance of their stock returns. The companies meant here are those listed in the Jakarta Islamic Index (JII). The tool by which the data is analysed is panel data which is a combination of time series data and cross section. By employing companies’data of year 2014-2016, the study shows that Return On Assets (ROA), Net Profit Margin (NPM), Debt to Equity Ratio (DER) and Price to Book Value (PBV) simultaneously had a significant effect on the formation of stock returns of companies listed in the JII. Likewise, those four variables namely; ROA, NPM, DER and PBV partially have a significant effect on the formation of stock returns of companies listed in the JII.","PeriodicalId":34766,"journal":{"name":"Journal of Islamic Economic Laws","volume":" ","pages":""},"PeriodicalIF":0.0,"publicationDate":"2019-02-27","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"44276535","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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