Application Of Sharia Principles Research Articles

Analysis of the role of village-owned enterprises (bumdes) in improving the economy of the community in sharia-based Patokan village

This research aims to analyze the role of Village-Owned Enterprises (BUMDes) in improving the economy of the Patokan Village community with a sharia-based approach. BUMDes is an economic institution established in villages to manage local potential and improve community welfare. In the context of Patokan Village, the application of sharia principles in BUMDes management is important given that the majority of the population is Muslim. This research uses a descriptive qualitative method, with data collection techniques in the form of in-depth interviews, observation, and documentation. The results showed that the BUMDes of Patokan Village has contributed positively to the village economy, especially through the savings and loan, livestock, and agriculture business units. However, there are still some obstacles, such as a lack of capital, skills, and community participation. The application of sharia in BUMDes management also provides additional benefits, such as increased community trust and avoidance of usury. This research is expected to provide theoretical and practical contributions in the development of a sharia-based BUMDes management model, which is more effective in supporting the welfare of village communities.

Analisis Kointegrasi Antara Saham Syariah Dan Tingkat Suku Bunga

The development of Islamic economics with the application of sharia principles in economic activities is starting to be practiced in the field of sharia finance. This started with the establishment of sharia banking, then followed by the emergence of the sharia capital market as an investment tool to attract profits and seek capital. The Jakarta Islamic Index (JII) as the antithesis of the conventional capital market has challenges when carrying out investments using sharia principles, this is because securities in the form of shares are greatly influenced by macroeconomic aspects such as interest rates. So sharia share prices are very sensitive to the dynamics of interest rates. This research seeks to see the extent of the influence of interest rates on sharia sham prices at JII. The method used is VECM analysis to see long-term effects. The results of this research found that the interest rate variable did not significantly influence sharia stock prices in the long term, however the results of the VECM analysis found that there was a negative relationship, meaning that there was still an influence, although not significant. So sharia share prices can still be affected by changes in conventional interest rates.

Prioritizing Waqf Core Principles (WCP) Criteria

A waqf institution is a social organization that acts as an intermediary between wakif and mauquf alaih or people who are entitled to receive waqf benefits. The waqf core principle (WCP) is a starting point as a framework and best practice standard for waqf-based governance. The waqf core principle is intended to improve the quality of waqf students by identifying these weaknesses in supervision and regulation. This study tries to prioritize the WCP principles and also the important criteria from each level using the Analytica Hierarchy Process (AHP). There are five core principles in this WCP, which consist of: the legal basis, waqf supervision, good, and correct Nazir governance, risk management, and the application of sharia principles in governance. Of these principles, the main priority is the application of sharia principles in waqf governance. The recommendation for waqf practitioners or managers is to apply this WCP optimally, according to the priority level according to the results of this study.

The Role of The Sharia Supervisory Board In Sharia Banking In Indonesia

One of the characteristics that distinguishes Islamic Commercial Banks from conventional banks is the existence of a sharia supervisory board (DPS) at an independent Islamic bank and located parallel to the board of commissioners. DPS, has an important and strategic role in the implementation of sharia in Islamic Banks. DPS is responsible for ensuring that all products and procedures of Islamic Banks comply with sharia principles. This research is entirely a literature review. The purpose of this research is to find out about the role of DPS in Islamic banking. The analytical method used is content analysis method. The results of this study indicate that the DPS is an independent body consisting of muamalah sharia experts who also have knowledge in banking in Islamic financial institutions and are tasked with overseeing the implementation of the decisions of the national sharia board at these sharia financial institutions. DPS has an important and strategic role in the application of sharia principles in sharia banking. DPS is responsible for ensuring that all sharia bank products and procedures comply with sharia principles.

Application of Sharia Principles and Consumer Interest in Sharia Hotels

The purpose of this study was to find out the application of sharia principles and consumer interest in choosing the Walisongo Syariah Hotel Surabaya. Multiple regression analysis method with 3 variables namely Sharia Label (X1), Application of Sharia Principles (X2) and Consumer Interest (Y) involving 50 respondents. The results of the study obtained that the application of sharia principles has been carried out in operational activities at the Walisongo Syariah Hotel, Surabaya. There is a significant relationship between sharia labels and consumer interest in the Walisongo Syariah Hotel Surabaya. The application of sharia principles is significant at 0.941 which greatly influences consumer interest in using the Walisongo Syariah Hotel Surabaya. The better the application of sharia principles, the higher the interest of consumers to use sharia hotels as accommodation services

Application of Sharia Principles in Sharia Financial Institutions

This study analyzes related to Islamic Financial Institutions (LKS). Which currently exists and is growing quite rapidly. There have been numerous variations of LKS throughout Indonesia, including Islamic institutions. LKS is a financial institution that operates following Sharia law. LKS, a financial institution with Sharia principles, was originally present as an option and a solution for Muslims who want to avoid the practice of conventional banks or financial institutions. LKS was originally offered as a sharia-compliant financial organization for Muslims who want to escape the practice of banks or traditional financial institutions that use the interest system, but they can also be a choice for non-Muslims. Therefore, there are problems why the application of Sharia principles by LKS is an urgent problem and what are the conditions for applying Sharia principles by LKS. The research method used is normative legal research with a case approach. The study results indicate that the LKS organizer is expected to have a vision in which the LKS remains in the principles of Sharia.

Overview Inklusi Keuangan; Studi Literasi Keuangan Syariah Terhadap Masyarakat.

Public literacy in Islamic finance is still relatively low, especially in the Islamic banking sector. This causes the market share of Islamic banking to be 5.95 below that of conventional banking. This research topic focuses on the issue of positive or negative influence between Islamic financial inclusion and Islamic financial literacy. In addition, the application of sharia principles is also related to issues that affect sharia financial inclusion. Exposure to sharia literacy and sharia principles has not yet touched all levels of society. The use of Islamic banking services is still not based on these two factors.

Penerapan Analisis SWOT dalam Menentukan Strategi Pemasaran Syariah Produk Butik Maura Pacet Mojokerto

The application of Islamic Shari'a in Mojokerto has developed a new paradigm regarding the application of law, including muamalah which causes the application of sharia principles in marketing to also be an interesting matter to study. This study aims to analyze the implementation of sharia marketing at the Butik Maura Pacet Mojokerto. Marketing mix variables consist of product, price, promotion and distribution, as well as SWOT variables. The method used is qualitative descriptive analysis approach. Sources of data obtained by observation, interviews, and documentation. The results of this study indicate that the implementation of the marketing mix has been carried out properly and in accordance with sharia principles, and there are no elements that deviate from Islamic law in the marketing process according to the example of the Prophet.

STUDI KOMPARATIF TERHADAP PRINSIP-PRINSIP ASURANSI SYARIAH MENURUT HUKUM ISLAM DAN UNDANG-UNDANG NO. 40 TAHUN 2014 TENTANG PERASURANSIAN

This research is entitled a comparative study of the principles of sharia insurance according to Islamic law and Law No. 40 of 2014 concerning insurance. In its operations, in addition to complying with the legal terms of the agreement, insurance must also comply with the principles of insurance law. The purpose of these principles is to provide a framework within which all parties to a transaction will receive fair and proper treatment. This study aims to discuss the principles of insurance law in Islam and the principles of insurance in Law No. 40 of 2014 concerning insurance by conducting a comparative study which is expected to find similarities and differences. The research method used by the author is using descriptive analysis and comparative research, the data collection technique used is library research. The results of this study there are six principles of sharia insurance in Islamic law, namely; the Principle of Insurable Interest, the Principle of Utmost Good Faith, the Principle of Indemnity, the Principle of Subrogation, the Principle of Proximate Cause, and the Principle of Contribution. While the principles of sharia insurance contained in Law No. 40 of 2014 is the application of sharia principles in accordance with the DSN MUI fatwa, then regarding legal relations in insurance agreements that take provisions from KHES, and legal consequences in insurance which in case of disputes are resolved through mediation.

Analisis Implementasi Strategi Pemasaran Asuransi Pendidikan Mitra Iqra Plus Dalam Kajian Asuransi Syariah


 Mitra Iqra Plus is one of the products owned by PT. Bumiputera Sharia Life Insurance, KPS Medan, which aims to help fund children's education. The purpose of this study was to determine the implementation of Mitra Iqra Plus' educational insurance marketing strategy in the study of sharia insurance at PT Asuransi Jiwa Syariah Bumiputera, KPS Medan, the application of sharia principles in the marketing implementation of Life Insurance products at PT Asuransi Jiwa Syariah Bumiputera, KPS Medan, and challenges in implementing sharia. marketing conducted by PT Asuransi Jiwa Syariah Bumiputera, KPS Medan. This type of research uses qualitative research. Data collection techniques in the form of interviews, observations, and documentation. The data analysis technique used is to reduce the data, present the data, then draw conclusions. The results show that PT Asuransi Jiwa Syariah Bumiputera, KPS Medan implements according to sharia marketing principles ranging from Wisdom (Strategy), Needs (Needs), Halal (Tayyibat), Welfare (Falah), Mutual Consent. The inhibiting factors in implementing the Mitra Iqra Plus educational insurance marketing strategy are the lack of public knowledge about sharia insurance, lack of public trust in sharia insurance, lack of agents and customers who are difficult to collect for premium payments. The challenge is the lack of technology development, the weak market share of PT. AJS Bumiputera due to lack of support from the government and the community.
 Keywords: Implementation of Sharia Marketing Strategy, Mitra Iqra Plus, Sharia Insurance.

Credit Risk in Islamic Banking

The application of sharia principles in banking, which does not involve the elements of interest (riba), betting (qimar), and uncertainty (gharar) is unique and draws attention, resulting in an increase in popularity of this type of banking. Financing products have also emerged with a variety of services. Although Islamic banking does not involve those three elements, it is still faced with the risk of disbursed financing. This issue is important to observe considering its relationship with growth and competitiveness in the banking industry. Credit risk that arises can be caused by two factors, including unsystematic and systematic factors or those that cannot be eliminated or controlled. Several previous studies have described the elements that can put a bank’s credit at risk, particularly in the case of Islamic banking. Therefore, this research using a literature study aimed to classify factors that can indicate credit risk, both systematic and unsystematic in Islamic banking.

Analisis Implementasi Strategi Pemasaran Asuransi Pendidikan Mitra Iqra Plus Dalam Kajian Asuransi Syariah


 Mitra Iqra Plus is one of the products owned by PT. Bumiputera Sharia Life Insurance, KPS Medan, which aims to help fund children's education. The purpose of this study was to determine the implementation of Mitra Iqra Plus' educational insurance marketing strategy in the study of sharia insurance at PT Asuransi Jiwa Syariah Bumiputera, KPS Medan, the application of sharia principles in the implementation of marketing life insurance products at PT Asuransi Jiwa Syariah Bumiputera, KPS Medan, and challenges in implementing sharia. marketing conducted by PT Asuransi Jiwa Syariah Bumiputera, KPS Medan. This type of research uses qualitative research. Data collection techniques in the form of interviews, observations, and documentation. The data analysis technique used is to reduce the data, present the data, then draw conclusions. The results show that PT Asuransi Jiwa Syariah Bumiputera, KPS Medan implements according to sharia marketing principles starting from Wisdom (Strategy), Needs (Needs), Halal (Tayyibat), Welfare (Falah), Mutual Consent. The inhibiting factors in implementing the Mitra Iqra Plus educational insurance marketing strategy are the lack of public knowledge about sharia insurance, lack of public trust in sharia insurance, lack of agents and customers who are difficult to collect for premium payments. The challenge is the lack of technology development, the weak market share of PT. AJS Bumiputera due to lack of support from the government and the community.
 Keywords: Implementation of Sharia Marketing Strategy, Mitra Iqra Plus, Sharia Insurance.

GOOD CORPORATE GOVERNANCE DALAM PERSPEKTIF KONVENSIONAL DAN ISLAM

The purpose of writing this article is to provide an overview/explanation related to Good Corporate Governance in both conventional and Islamic views. The writing of this article uses the method of literature study or literature study. The stages carried out in analyzing conventional Good Corporate Governance/GCG and Good Corporate Governance in an Islamic view are to collect literature or studies and scientific works that discuss conventional Good Corporate Governance and GCG in an Islamic view. The next step is to identify the problem under study, then classify the problem and make a presentation that discusses the topic under study and then draws a conclusion. The results of Good Corporate Governance (GCG) in terms of conventional and Islamic concepts basically have similarities, the difference is the existence of sharia compliance (sharia compliance) or the application of sharia principles in the operations of Islamic banks and the existence of DPS (Sharia Supervisory Board) which has the task of implementing supervisory function in sharia banking as well as the existence of DSN-MUI (National Sharia Council of the Indonesian Ulema Council).

Sharia Service as An Added Value: Response to Sharia Standard in Hospital Service

The application of sharia principles in business activities and services adds to standard compliance and some of them are trapped in the legalistic formality aspect rather than improving business ethics. In hospitals, which main business is providing health services, applying sharia principles may enhance the added value in health services or just a formal aspect. The purpose of this study seeks to reveal the community's response to the application of sharia standards in hospitals. The study used a quantitative research method, through the distribution of questionnaires to 50 patients and their families in three regional public hospitals; Zainoel Abidin Hospital Aceh, Sultan Agung Hospital Semarang, and Bandung Islamic Hospital, and interviews with the management and sharia supervisory board of the hospital. This study describes descriptively, with a Likert scale approach, to see the response toward the application of sharia standards. The results show that the majority of respondents gave a positive response to the application of sharia standards. Sharia standards are added value services in sharia hospitals. The results of this study is implicated in the management of sharia compliance in hospitals and the need for regulatory support for the implementation of sharia in hospitals.

Urgensi Fatwa DSN-MUI Mengenai Manajemen Risiko Pembiayaan Berbasis Syariah

Risk management at Islamic financial institutions is still implementing bank Indonesia (BI) and Financial Services Authority (OJK) policies which previously applied the same to conventional financial institutions. The perfection of the enforcement of sharia principles in sharia financing institutions is not enough only in the aspect of transactional mechanisms, it needs to be supported by a sharia-based risk management system. The focus of this research includes the characteristics of Islamic financing, juridical aspects in the principle of prudence, and an overview of the maslahah of the urgency of sharia-based risk management. This research is normative legal research using a statutory approach and a benefits approach with a qualitative descriptive analysis. The results of the discussion show that a dynamic system also needs to be supported by juridical aspects to provide the legal force with the realization of regulatory solidity. At this regulatory level, in addition to the regulations issued by the OJK, the DSN-MUI fatwa is also very necessary and has a very urgent position. Because financing risk management is also part of the sharia economy that must maintain sharia principles, lest the application of sharia principles only exists in product technicalities, but does not apply to technical risk management. The expected sharia is the application of total sharia principles (kaffah), not partial ones.

Analisis Penerapan Prinsip Hotel Syariah Pada Hotel Satria Syariah Batusangkar

The main problem in this thesis is that there are differences in the application and there has been no implementation of sharia principles at the Satria Syariah Batusangkar Hotel. This hotel was only established as a guest house in 2016, then renovated and made into a hotel in 2019. The purpose of this study was to analyze the application of sharia at the Satria Syariah Batusangkar hotel with the tourism and creative economy PERMEN approach number 2 in 2014.The type of research that the author uses is field research, in this study the author will discuss the differences in the application and what sharia principles have not been applied to at the Hotel Satria Syariah Batusangkar based on PERMEN tourism and creative economy number 2 of 2014. Data collection techniques used the authors use is through observation, interviews, and documentation. Data processing was carried out in a qualitative descriptive manner.From the research that the author conducted in the field, it can be concluded that, from the aspect of management, product, service according to the new moon 1 (which is absolute) there are still differences in the application or even not applying sharia principles at all, the first aspect of management is business management, the second aspect products, namely public toilets, kitchens, and prayer rooms. The three service aspects are housekeeping, food and beverages. Based on the results of the SWOT analysis using a graph, it can be concluded that the hotel is in quadrant 3 which means it has a very large opportunity from the outside environment in the application of sharia principles but the hotel has weaknesses from the internal resources of the hitel itself. The focus of a hotel's strategy in this condition should be to eliminate internal weaknesses so that it can concentrate on pursuing available environmental opportunities in order to implement sharia principles.

FIRM VALUE DETERMINATION WITH INFLATION AND EXCHANGE RATE AS A MODERATING VARIABLE (Study on the Manufacturing Industry Recorded in Indonesian Sharia Stock Index)

Purpose - Aims of this research are to determine the factors that influence the firm value of the manufacturing industry listed on the Indonesia Sharia Stock Index. Design/methodology/approach - Used panel data regression method from 2013-2018, then obtained 30 manufacturing industry companies after purposive sampling. Syariah stock investors who rationally and religiously behave are accommodated in the variables used. The dependent variable is firm value and the independent variable are return on equity, current ratio, debt to equity ratio, total assets turn over, Islamic social reporting, with the exchange rate and inflation as the moderating variable. Finding - Results show that return on equity with inflation as a moderating variable has a positive effect on firm value. Islamic social reporting has a positive effect on firm value. Debt to equity ratio with the exchange rate as a moderating variable has a negative effect on firm value. The current ratio and total assets turnover are not significant to firm value. Practical Implication - To increase the firm value, it is necessary to improve human resources and the application of environmentally friendly technology, planning in production and expansion, transparency and application of sharia principles, professional and fair managers. Originality/value - This study combines the company’s financial ratios, Islamic social reporting, and macroeconomic conditions that are beyond management control. Tobins’ Q is used to the corporate values approach. All of these, reflect that firm value is influenced by company performance, society, and government. Keywords - Firm Value, Financial Ratio, Islamic Social Reporting, Sharia Enterprise Theory, Macroeconomics, Indonesia Sharia Stock Index

Sharia Principles in the Financial Services Authority Regulation on Dispute Settlement Alternatives

There is a legal disharmony with the Sharia Banking Law in the regulation on alternative dispute resolution institutions. This problem arises because the regulation does not pay attention to sharia principles, as mandated by Article 55, Paragraph 3 of the Sharia Banking Law. Meanwhile, the application of sharia principles is a spiritual right of consumers which also requires legal protection. This research is intended to assess alternative dispute resolution institutions' regulations, particularly Financial Services Authority Regulation from a consumer protection perspective, particularly spiritual rights. This research is categorized as an empirical normative study, using a philosophical, historical approach and a content analysis of the Financial Services Authority Regulation. The results of this study indicate that the Financial Services Authority Regulation on Alternative Dispute Resolution Institutions has not accommodated spiritual rights in dispute resolution for the Islamic banking industry. A weak understanding of spiritual rights causes it in the context of dispute resolution. It also creates another problem in the form of a lack of attention and policies that support the protection of spiritual rights, both in regulatory and banking institutions. In the context of dispute resolution, there are general consumer rights, such as the right to get advocacy, while the application of sharia principles is a special right. Based on these findings, it is recommended that regulatory institutions, particularly the Financial Services Authority, pay adequate attention to the entire financial service industry under their respective characteristics. It is an important matter because the protection of spiritual rights supports the development of the Islamic finance industry both in Indonesia and globally.

Analisis Penerapan Prinsip Syari’ah Terhadap Aplikasi Hasanah Card di BNI Syari’ah Kantor Cabang Surabaya

The purpose of this study was to find out whether the Hasanah Card had actually implemented the Sharia Card Principles described in Fatwa DSN-MUI No. 54.The research method used is a descriptive approach by combining types of qualitative research. Data collection was conducted by interviewing the Hasanah Card Marketing Division, employees and Hasanah Card customers, direct participatory observation, and documentation. Data validity techniques use credibility techniques (internal validity), transferability (external validity), dependability (reliability), and confirmability (objectivity). Data analysis techniques use inductive, deductive, and comparative methods. The results of this study are the application of sharia principles on hasanah cards conducted by BNI Syariah KC Surabaya still not in accordance with Fatwa DSN-MUI No. 54. This can be seen from the DSN-MUI fatwa No.54 Based on the fatwa stipulated by the Sharia card, it cannot be used for transactions that are not in accordance with sharia. However, there is a difference between the DSN-MUI fatwa on sharia cards and the practices that occur in Islamic banks where credit card customers do not apply the use of Islamic credit cards in accordance with the provisions

Limitation of Application of Sharia Principles in Sharia Economic Dispute Resolution in Religious Courts

This paper aims to find the basis for the philosophical rationality of applying sharia principles in resolving sharia economic disputes in religious courts as well as the prerequisites required by religious court judges to apply sharia principles in resolving sharia economic disputes. The type of research used is normative legal research to find philosophical rationality and the institutionalization of sharia principles in resolving sharia economic disputes. The approach used is a conceptual approach. Secondary data were collected through literature study. The research results obtained first, the philosophical rationality of the application of sharia principles in sharia economic dispute resolution in line with the first and third principles of Pancasila. Second, the institutionalization of sharia principles becomes effective if there are prerequisites that must be met, firstly enough information for judges to understand sharia principles, secondly the obstacles that come from the judges themselves who are still oriented towards the flow of legism / positivism will have an effect on providing legal basis and third the speed of instilling the institutionalization of sharia principles can be done through education and training organized by the Supreme Court for Religious Court judges.