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Jurnal

Tanggal Publikasi: 25 Jan 2023

Had Kifayah Zakah and Adequacy of Income Redistribution: A Proposal Framework

Penulis Bayu Taufiq Possummah, Ph.D., MA.

Social security systems traditionally serve a dual purpose: they maintain acquired living standards in the event of the materialization of social risks and combat poverty by guaranteeing adequate minimum income. In this paper we consider Zakat as an important mechanism that strengthens the economy of the entire society by providing Had kifayah as a way to redistribute income. Zakat is also a source of social security to the community, especially to those under inadequate living standards. Had Kifayah Zakat can work as a minimum standard to manage redistribution of income, thereby reducing poverty and balancing economic growth in our society.

Jurnal

Tanggal Publikasi: 25 Jan 2023

Consumerism in Personal Finance: An Islamic Wealth Management Approach

Penulis Bayu Taufiq Possummah, Ph.D., MA.

The aims of this study are to understand the causes and impacts of consumerism on personal finance and find the solution to this problem by using Islamic wealth management. By using thematic analysis this study reviewing consumerism from the perspective of personal finance in Islamic wealth management approach. This study found that the causes of consumerism involve both external and internal factors. The impacts of consumerism on personal finance are the debt trap, no productive and charity allocation. An exact number of maximum consumption cannot be set for every individual or family, but they are all agreed that allocating income should be based on the right priority scale. The second finding is we propose Islamic Wealth Management (IWM) approaches in reducing the problem of Consumerism.

Jurnal

Tanggal Publikasi: 25 Jan 2023

Baitul Mal and Legal Constraint: Public Wealth Management in Malaysian Context

Penulis Bayu Taufiq Possummah, Ph.D., MA.

Baitul-Mal is normally known as a charitable institution. This point is true because presently Baitul-Mal role is more prominent in terms of providing assistance and charitable contributions and donations to the public. In essence, the original scope of Baitul-Mal covers a wider role compared to the current concept of Baitul-Mal. If we view from the context of Baitul-Mal at the early Islam, it turns out that Baitul-Mal is the only and center for the treasury of the state, but in the Malaysian context, scope and functions of Baitul-Mal are limited by the legal constraint. This paper is aimed to analyze the legal constraint and propose some procedures to empower the function and resource mobilization of Baitul-Mal. This paper will also expose that to improve the functions it can be done by using Islamic financial instruments.

Jurnal

Tanggal Publikasi: 25 Jan 2023

ISSUES AND ECONOMIC ROLE OF WAQF IN HIGHER EDUCATION INSTITUTION: MALAYSIAN EXPERIENCE

Penulis Bayu Taufiq Possummah, Ph.D., MA.

Issues and Economic Role of Waqf in Higher Education Institution: Malaysian Experience. As early as 1980, the Malaysian federal government’s spending on education, was the highest in East Asia and higher than the OECD average of 3.4% of GDP. This demonstrates that the Malaysian Government has big expenses from educational sector and respectively is amenability for Malaysian economic budget. In other side Waqf in Malaysia is one of large financial source that has not been fully explored. By using qualitative methodology through content analysis this paper attempt to explore the issues and economic role of Waqf in Malaysia, especially in Higher Education Institution (HEI) and attempt to study how Waqf fund empowering the education. This study found that taking the que from the institutions of Waqf, the exploration and development of waqf fund can be exalarate through the formation of formal organizations at state and federal level and rearrange the Malaysian educational budget and policy to support the better quality of HEI.

Jurnal

Tanggal Publikasi: 25 Jan 2023

Business Strategy Based on the Comparison of Sun Tzu and Khandaq War Management Strategy

Penulis Dr. Zulkarnain Muhammad Ali

Among the business strategy models that have developed so far, some use military strategy as a business strategy model. Business strategy has many similarities to military strategy, and one of them is Sun Tzu's war strategy. In the history of Islam, there is a war strategy of the Prophet SAW whose principle is similar to Sun Tzu's war strategy, this strategy is the Khandaq war strategy. It is necessary to research to compare the principles of Sun Tzu's war strategy and the Khandaq War. This research aims to; 1). Discover the principles of Sun Tzu's war strategy and Khandaq's war strategy, 2). Compares the two principles of Sun Tzu's war strategy and Khandaq's war strategy and 3). Formulating the principles of business strategy as a result of the comparison of the principles of Sun Tzu's war strategy and Khandaq's war strategy. The research uses a qualitative approach and to analyze the data, the Analytic Network Processing (ANP) method is used. The data was obtained through interviews with 18 selected respondents, consisting of 9 sharia economics academics and 9 sharia business practitioners.This study found; 1). Khandaq war and Sun Tzu war, have the same 6 main strategic principles (goal formulation, condition calculation, strategy determination, strategy implementation, control strategy, and leadership) and can be used in business strategy, 2). Interesting findings from this study are that there are differences in the forming indicators and 3). The results of the preparation of ANP compose the principles of business strategy as a result of the comparison of the strategies of Sun Tzu and Khandaq, namely the principles of leadership, then the formulation of objectives, implementation strategies, control strategies, determination of strategies and calculation of conditions with all forming indicators. So that the priority principles of the ANP processed strategy can be used as the principles of a new business strategy.

Jurnal

Tanggal Publikasi: 25 Jan 2023

MEDICAL ETHICS IN A MULTICULTURAL COUNTRY: DIFFERENCES IN PRINCIPLES AND PRACTICES AMONG MUSLIMS AND BUDDHISTS

Penulis Dr. Ahmad Levi Fachrul Avivy, M.A.

Religion plays an imperial role in the ever-changing healthcare system of Malaysia. The Malaysian, being a multi-racial society, has to adapt and accommodate various practices of religion from different cultural and religious backgrounds. It is this diversity that demands the understanding of the different ideologies of faith as a necessity to the healthcare giver such as doctors, nurses, and paramedics. This article aims to compare the principles and practices of the official religion of Malaysia, Islam, as compared to the mainstream religion of the Chinese, which is Buddhism. The discussions focus on the general beliefs and practices of these two religions, the approach towards health and disease and dealing with the issues of death and dying.

Jurnal

Tanggal Publikasi: 25 Jan 2023

JARINGAN KEILMUAN HADIS DAN KARYA-KARYA HADIS DI NUSANTARA

Penulis Dr. Ahmad Levi Fachrul Avivy, M.A.

Perkembangan keilmuan Islam di Nusantara tidak lepas dari perkembangan hubungan antara muslim Nusantara dengan Haramain sebagai salah satu pusat ilmu dan pendidikan Islam. Abad 17 merupakan masa yang menjadi titik tolak bagi perkembangan sosio-intelektual muslim Nusantara. Pada abad tersebut mula terhasil karya-karya ilmiah karangan Ilmuan Nusantara dalam pelbagai bidang keilmuan termasuk dalam bidang hadis. Artikel ini cuba memaparkan perkembangan pengajian hadis serta peranan institusi pendidikan di Haramain yang telah berjaya melahirkan ramai ilmuan Islam Nusantara. Selain itu, artikel ini ingin menggali khazanah keilmuan para ilmuan Nusantara silam khususnya dalam bidang hadis serta jaringan keilmuan di kalangan ulama Nusantara. Kajian mendapati bahawa penerbitan karya hadis di Nusantara ditandai dengan lahirnya kitab Sharh al-Latif cala Arbac in Hadith karangan Syeikh Abd al-Racuf al-Fansuri. Selepas itu banyak karya-karya hadis yang dihasilkan oleh para ilmuan Nusantara sehinggalah kitab Misbah al-Zalam Sharh Bulugh al-Maram yang dikarang oleh Syeikh Muhammad Muhajirin Amsar. Selain itu, artikel ini juga membuktikan adanya ketersambungan sanad keilmuan antara para Ulama Nusantara dalam kalangan mereka sehingga membentuk satu jaringan keilmuan.

Jurnal

Tanggal Publikasi: 25 Jan 2023

DOES FRACTIONAL RESERVE BANKING SYSTEM EXIST IN INDONESIAN ISLAMIC BANKING?

Penulis Yaser Taufik Syamlan, CIFP.

Fractional Reserve Banking is a banking and financial system used in most countries around the world. This research aims to look at its impact empirically and at the contributions given from the components of fractional reserve banking against inflation that occurs in Sharia Commercial Banks and Sharia Business Unit. The fractional reserve banking components covered in these studies are statutory reserve requirements, total deposit, total financing, Mismatch Ratio, and total non-performing financing. This research used VAR VECM and ECM as analysis tools and collected secondary data from Indonesia’s Financial Service Authority (OJK) that spanned from June 2014 to September 2018. The results of this research found that the largest contributor on Sharia Commercial Bank (BUS) is the Statutory Reserve Requirement while in sharia Business Unit the results showed that Third Party Fund and Mismatch ratio provided the greatest contributions against inflation. Moreover, it shows that fractional reserve banking occurred both in UUS and BUS. To prevent fractional reserve banking from affecting in the future, the control of mismatch and introducing the irrevocable investment account might be the solutions.

Jurnal

Tanggal Publikasi: 25 Jan 2023

Do Islamic Bankers Optimist on Islamic Banking Growth? Case Study of Islamic Banking Employees in Indonesia

Penulis Yaser Taufik Syamlan, CIFP.

This study aims to determine the perceptions of Islamic banking employees on the growth of Islamic banking in the future. This research is also to find out the influence of products and services, experience and skills, marketing of products and services, and practices of Islamic banking on the growth of Islamic banking. The sample used in this study was 100 respondents of Islamic banking employees in Indonesia. The method used is path analysis. The results of this study indicate that the perception of products and services has no significant and positive effect on Islamic banking practices, perceptions of experience and skills have a significant and positive effect on Islamic banking practices, perceptions of product and service marketing have a significant and positive effect on sharia banking practices, then product perceptions and services have no significant and positive effect on the growth of Islamic banking, perceptions of experience and skills have no significant and positive effect on the growth of Islamic banking, perceptions of product and service marketing have a significant and positive effect on the growth of Islamic banking, and the perception of Islamic banking practices has a significant and positive effect on growth of Islamic banking. From the results of this study, it is expected that Islamic banking employees need to improve the practice of Islamic banking in the perception of products and services. Then sharia banking employees also need to improve products and services and perceptions of experience and skills in the growth of Islamic banking.

Jurnal

Tanggal Publikasi: 25 Jan 2023

FAKTOR– FAKTOR YANG MEMPENGARUHI MISMATCH PADA BANK UMUM SYARIAH DAN UNIT USAHA SYARIAH DI INDONESIA

Penulis Yaser Taufik Syamlan, CIFP.

This research aims to determine the effect, to find out the shock and to find out how much the contribution given by variables to the mismatch that occurs in Islamic Commercial Banks and Sharia Business Units. The variables used in this studies are total Third Party Funds Saving, total Third Party Funds Investment, total Uncertain Financing, total Certain Financing and Non Performing Financing (NPF). This research method using Error Correction Model (ECM) and Vector Autoregression and Vector Error Correction Model (VAR-VECM) with data starting from June 2014 - September 2018. The results of this research indicate that the main cause of Mismatch in Sharia Commercial Banks is the distribution of funds while the main cause of Mismatch in Sharia Business Units is withdrawal of Third Party Funds