Financial Services Authority Research Articles

PENGARUH NILAI TUKAR, PDB, DAN PEMBIAYAAN BANK SYARIAH TERHADAP EKSPOR KOPI DI INDONESIA

This research aims to determine the influence of exchange rate variables, Gross Domestic Product (GDP) and Sharia Financing on coffee exports in Indonesia. The method used in this research is a quantitative method, using timeseries (secondary) data with data collection techniques using documentation studies, namely by collecting data on Exports, GDP, Exchange Rates and Financing distributed by Sharia Banking obtained from the website of the Central Bureau of Statistics (BPS). ), Bank Indonesia (BI), Financial Services Authority (OJK) and ICO (International Coffee Organization). The data was then analyzed using the VECM (Vector Error Correction Model) method using Eviews 10 software. This shows that financing has an effect on the exchange rate which is significant in the long term but has no significant effect in the short term. Apart from that, based on the results of the impulse response analysis, it caused shocks but did not cause too much volatility in Indonesian coffee exports. The exchange rate has no effect on GDP, and GDP has no effect on financing. Then, based on the results of the variance decomposition analysis, it shows that the value of financing plays the biggest role in the exchange rate of Indonesian coffee exports. And it has a significant effect in the long term but does not have a significant effect in the short term on the volatility of Indonesian coffee exports.

Determinants of the Financial Health of Deposit Guarantee Corporation in the Pandemic Era (Case Study at PT. XYZ Sharia)

PT. XYZ Sharia is a deposit guarantee corporation (“Lembaga Penjamin”), which obliged to maintain its financial health as explained in the Financial Services Authority Circular Letter Number 18/SEOJK.05/2018. During the pandemic era PT. XYZ Sharia is faced with strategic issues relating to the implementation of more effective risk management. This is expected to provide protection for the company against losses and maintain the company's financial health level in the very healthy category. This research aims to analyze the significance of liquidity calculations, Gearing Ratio, ROA, BOPO and claims ratio on the level of financial health of PT XYZ Sharia. The research used multiple linear regression analysis. The data are secondary data originating from the financial reports of PT XYZ Sharia for 2021-2022. The research found that the Gearing Ratio and BOPO had positive and significant effects on the company's health level. Simultaneously, liquidity, Gearing Ratio, ROA, BOPO and Claims Ratio have a significant effect on the company's financial health level. Keywords: BOPO, Claims Ratio, Deposit Guarantee Companies, Financial Health, Gearing Ratio, JEL Classifications: G23, I12, Liquidity, ROA.

Analysis of Securities Offering Regulations on Securities Crowdfunding Services Maslahah Approach

The acceleration of the Digital Era began with the spread of the COVID-19 virus, which caused the national economy to grow 2.5% in 2020, or down 5% from 2019. The lockdown policy was a factor in the slow turnaround of the economy. Another impact is digitalization in all aspects, including the financing sector and the formation of rules to regulate financing. Financial technology is an instrument that is experiencing accelerated growth because it is based on the internet of things (IOT). With the birth of the concept of crowdfunding securities, which has become an alternative funding source for business actors such as MSMEs, Initially, MSME funding activities in the crowdfunding cycle were limited to equity based on POJK 37 of 2018, then the regulation developed into POJK 57 of 2020 and became POJK 16 of 2021. These regulatory changes changed the funding mechanism, which was initially equity-based and then developed to be based on sukuk and debt securities. These regulatory changes became the focus of research after examining the impact of these regulations on the funding of MSMEs and legal business entities in Indonesia. Mas}lah}ah theory became the knife in analyzing these regulations using normative legal research methodology as the research method and descriptive analysis as the analytical method. The use of this theory is based on the impact of existing regulatory developments, which have reached funding worth $1 trillion and contain 481 business units, with funding sources coming from 160,368 investors. This funding achievement is a challenge to carry out comprehensive supervision regarding the distribution and use of capital by service-provider companies and the Financial Services Authority by paying attention to the principles of GCG, CSR, and open disclosure to guarantee and protect the rights of parties participating in related funding.

Beneficiary Ownership in Financial Services Sector Conglomerates in Indonesia

This research aims to explore the implications of beneficiary ownership in financial services sector conglomerates in Indonesia on financial system stability. Because financial services sector conglomerates can obscure the true beneficiaries within the conglomerate in Indonesia. This can pose risks to the financial system. If one financial institution within the conglomerate fails, it can have cascading effects on other institutions within the conglomerate. This can lead to systemic crises, which can harm the overall economy. Therefore, the problem lies in how to uncover the true beneficiaries within a financial services sector conglomerate in Indonesia. This is a normative legal research, prescriptive in nature, employing a legislative and legal comparison approach. Secondary data used includes legislation such as the Limited Liability Company Law, Banking Law, Financial Sector Development and Strengthening Law, as well as the Financial Services Authority Regulation on Financial Conglomerates. Additionally, international journals and legal dictionaries are used as references, supported by empirical data in the form of interviews with the Financial Services Authority. Data is analyzed qualitatively, with conclusions drawn using deductive-inductive reasoning. An individual or legal entity as a primary entity that can control changes in the Articles of Association, Share Ownership Structure, replacement of directors, board of commissioners, control the company's finances, but the individual/legal entity is not listed in the company's articles, then can be categorized as a beneficial owner of a limited liability company. Similarly, in a financial services sector conglomerate existing in Indonesia, it can be proven by finding out who controls the conglomerate.

FinTech forecasting using an evolving connectionist system for lenders and borrowers: ecosystem behavior

<span lang="EN-US">Financial Technology (FinTech) which is included in the development of digitalization in the financial sector in the industrial era 4.0. Fintech can make any transactions anywhere with the pillars of Peet-to-Peer (P2P) lending, merchants and crowdfunding. In the P2P Lending pillar, there are borrowers and lenders who are digitized in Fintech devices. Fintech in Indonesia is controlled by a state agency called the Otoritas Jasa Keuangan or Financial Services Authority (OJK). In the movement of P2P Lending, there are borrowers and lenders who can be said to be investors where these activities are reported to the OJK. This data can be forecasted using a neural network approach such as ECoS, which is a method capable of forecasting with learning that develops in the hidden layer. In this research article, we present results on forecasting borrowers with a Mean Absolute Percentage Error (MAPE) of 0.148% and forecasting lenders with an accuracy measurement with MAPE of 0.209% with a learning rate 1 = 0.6 and a learning rate 2 = 0.3. So, this forecasting model can be said as an optimization in FinTech activities on the behavior of borrowers and lenders.</span>

Green Banking for Environmental Management: A Sustainable Paradigm Shift

Abstract This study aims to determine the extent to which bankss (banks) in Indonesia implement green economy policies based on current regulations and how bank has played a role in implementing it in its banking activities. The urgency of this research is based on the worsening environmental conditions caused by climate change and extreme global warming. Financial Services Authority Regulation (FSAR) Number 51/POJK.03 of 2017 is deemed a rule that only regulates the course of green economy policies in financial institutions and has not specifically regulated green banking. This study employed qualitative methods with normative data collection using secondary data. This research’s results revealed that the banking activities carried out by Banks have complied with the applicable rules, as evidenced by the annual sustainability report. Nevertheless, the report issued by Banks has not been fully included in the financial reports requested by the FSA, thus it is a separate report from the financial reports required by the FSA and the report called sustainability report. It is considered that the green banking and SDG policies have not been implemented optimally since they are only in the form of an appeal, and there are no sanctions for violators. Therefore, they only have insignificant effect on environmental improvement.

The Effect of Credit Quality, Operating Costs, Operating Income and Profitability on the Capital of People's Economic Banks in Indonesia as of Quarter 2021 – 2022

The purpose of this study is to find out the effects of Non Performing Loan (NPL), Operational costs versus operational income (BOPO) and Profitability ( ROA) against Capital (CAR) People Economy Bank either partially or simultaneously.Research methods using descriptive qualitative, the object of research is a nationally conventional bpr.First quarter of 2021 to fourth quarter of 2022 data obtained from the financial services authority statistics report.The conclusions drawn from this study are npl, bopo and roa both partially and simultaneously have no influence on roa on bpr in indonesia period of 2021-2022.

THE INFLUENCE OF FINANCIAL TECHNOLOGY AND LIQUIDITY ON THE FINANCIAL PERFORMANCE OF BANKS IN INDONESIA

The purpose of this study is to evaluate how financial technology and liquidity levels affect the financial performance in conventional commercial banks in Indonesia that are listed in the Financial Services Authority. The research population includes conventional commercial banks listed on the Indonesia Stock Exchange from 2017 to 2023. The sampling technique is conducted through purposive sampling. The data analysis method uses panel data regression analysis. The data used are from 49 banks with a total of 176 financial reports, and hypothesis analysis is conducted using SPSS software. The research results indicate that financial technology has an impact on the financial performance of the banking sector in Indonesia, while liquidity levels also play a role in influencing the financial performance in the same banking sector.

CONSUMER PROTECTION AGAINST DEBTORS ON THE TRANSFER OF MORTGAGE RIGHTS VIA CESSIE

Disparities in financial capabilities in society have resulted in many credit agreements being entered into between consumers as debtors and banks as creditors or lenders, which are also accompanied by collateral in the form of mortgage rights which are used as collateral for payment of receivables by the debtor if he is unable to pay his debts to the creditor. The scope related to credit agreements is increasingly expanding when the model develops that credit agreements can be transferred to third parties through a cessie or receivable transfer agreement which of course poses risks for both creditors and debtors because in principle, when receivables are transferred to the cessie buyer, then the mortgage rights as collateral are also also transferred, including in terms of claim rights by new creditors. Therefore, this issue is interesting to discuss from the perspective of debtor protection as consumers of banking institutions, especially regarding the procedures and requirements that need to be understood regarding the transfer of mortgage collateral through a cessie or receivable transfer agreement. Apart from that, debtors also need to know what legal remedies can be submitted if the credit agreement or receivable transfer procedure causes losses for the debtor. In this research, the author uses a normative juridical research method using literature study and a legal approach. The results of the research show that based on the Consumer Protection Law and Financial Services Authority regulation, the Debtor as a consumer has the right to know clear and accurate information regarding the procedures and requirements of credit agreements including receivable transfer or cessie agreements and the legal consequences for the mortgage rights which he uses as collateral, including filing a complaint and/or legal remedies in litigation and non-litigation as long as he feels disadvantaged. The government needs to aggressively carry out outreach regarding all applicable regulations regarding credit agreements.

Problems with Financial Services Authority Regulation Number 77/POJK.01/2016 as the Legal Basis for Sharia Fintech Peer-To-Peer Lending in the Review of Islamic Law

This research analyzes the Financial Services Authority Regulation (POJK) Number 77/PJOK.01/2016 as the legal basis for sharia P2PL fintech in reviewing Islamic law. This research uses a qualitative approach through normative juridical methods. The research results show that Financial Services Authority Regulation Number 77/PJOK.01/2016 needs to be revised to serve as the legal basis for sharia P2PL. Even though there was a fatwa from the National Sharia Council-Indonesian Ulema Council (DSN-MUI) in 2018, this caused legal confusion. This research concludes that special regulations are needed to regulate Sharia P2PL fintech.

THE IMPACT OF THE HALAL INDUSTRY AND ISLAMIC FINANCIAL ASSETS ON INDONESIA'S ECONOMIC GROWTH USING THE VECTOR AUTOREGRESSION (VAR) APPROACH

The present study intends to examine the influence of the halal business and Sharia financial assets on economic growth in Indonesia. The research method requires a quantitative methodology. Research data was acquired in time series form from the Central Statistics Agency (BPS), Financial Services Authority (OJK), and State of the Global Islamic Economy Report (SGIE). The VAR approach is used for analysis once the data is interpolated monthly. The findings in this research suggest a favorable and significant association between the halal industry and economic growth in Indonesia in the short term. Meanwhile, Islamic financial assets significantly affect economic growth in Indonesia. According to the results of the Granger causality test, a one-way causal relationship exists between economic development in Indonesia and the halal industry. The research results demonstrate that the halal industry is essential in supporting economic growth in Indonesia. With this research, the halal industry and Sharia financial assets can improve Indonesia's economic growth by increasing the halal sector.

Do Corporate Governance and Bank-Specific Factors Matter On Banking Financial Performance?

Purpose: This study explores and presents empirical evidence on the influence of self-assessment of bank corporate governance and bank-specific factors on the financial performance of commercial banks in Indonesia. Methodology/approach: We conducted the study on 35 Indonesian public banks listed on the Indonesia Stock Exchange from 2017 to 2021. Using structural equation modeling, a thorough analysis was performed on a dataset of 160 observation samples that were carefully selected through purposive sampling. Findings: This study found that the implementation of corporate governance, which is proxied by the rating of self-assessment of corporate governance, and bank-specific factors significantly affect bank financial performance. The better the corporate governance self-assessment rating, the better the bank's financial performance. Other results indicate that bank-specific factors, as reflected by bank ownership, size, and diversification, significantly positively contribute to bank financial performance. Practical implications: This research aims to provide valuable insights that can support the Indonesian Financial Services Authority (OJK) in implementing effective corporate governance practices. It focuses on enhancing risk management, strengthening the bank's internal capacity, and ensuring compliance with regulations to promote best practices in bank management. Originality/value: This study provides new insight by examining the factors influencing financial performance in the banking sector, focusing on bank-specific factors and the regulatory aspects of Indonesian banking governance.

Legal Protection for Investors Buying and Selling Shares Online and in the Capital Market

This study aims to know and analyze legal protection for investors in terms of buying and selling shares online and to find out and analyze the factors inhibiting the implementation of factors that hinder legal protection for investors in terms of buying and selling shares online. The research method carried out in this study is normative legal research, in this case, using material collection techniques in the form of document and literature studies. The results of this study show the form of legal protection for investors as consumers in Law Number 8 of 1999 concerning Consumer Protection, namely the establishment of BPKN and BPSK. Law Number 8 of 1995 concerning the Capital Market has been regulated regarding the disclosure of information that must be provided to investors, and the regulation of Bapepam-LK as a supervisory body for every activity related to the capital market, which has been transferred to the OJK. Law Number 21 of 2011 concerning the Financial Services Authority aspects of legal protection provided by this law are prevention or preventive efforts and enforcement or repression carried out by the Financial Services Authority. The inhibiting factors faced in carrying out investor protection are still the large number of unlicensed/illegal online stock investments and the lack of knowledge of the investor community related to illegal investments. Research Recommendations It is expected that the government will be able to update Law Number 8 of 1999 concerning Consumer Protection to protect consumers optimally in this era of highly developed technological development. It is expected that in the future, the government will need to regulate online stock investment through a special law. It is expected that in the future, there will be coordination and cooperation between OJK and BPKN / BPSK in ensuring investor (consumer) protection. Investors are expected to be more careful in seeking information and choosing a clear securities company that has obtained permission for its activities. To find out the forms of violations/crimes in capital market transactions and to know the legal protection of investors in capital market transactions. The journal writing method uses normative research with an approach, namely the statutory approach, namely Law Number 8 of 1995 concerning the capital market, the fact approach to alluding to capital practices in Indonesia, and the concept analysis approach to legal analysis. Based on the results of the study, namely: Legal Protection to the Capital Market Supervisory Body Article 4 of Law No. 8 of 1995 concerning the capital market stated that "coaching, regulating, supervising by Bapepam to create orderly, fair, and efficient capital market activities and crimes and violations in the capital market sector will be involved in legal cases, in capital market violations, usually regarding BAPEPAM licensing and registration cases.

Determinants of Financial Performance in Influencing Inclusivity of Sharia Pension Fund Participants in Indonesia

Financial planning in old age is very important to do in order to prepare for the guarantee of life in old age. Sharia pension funds are a means that facilitate participants in meeting their needs in retirement. This study aims to provide empirical evidence related to the relationship between ROI, RITA, and Liability financial performance to the inclusion of Sharia pension fund participants in Indonesia. This type of research uses quantitative associative. The research data source uses secondary data from the publication of Sharia IKNB statistics on the Financial Services Authority website. The research sample was 17 quarterly data in the period 2019-2023. Research Object on Sharia Pension Fund companies in Indonesia. Data collection techniques through a literature study of journal articles and official websites indirectly supporting research literature. Data analysis using multiple linear regression. The results showed partially that Return on Investment (ROI) did not have a negative effect on Sharia Pension Fund Inclusion, Investment to Asset Ratio (RITA) had a positive effect on Sharia Pension Fund Inclusion, and Liabilities had a positive effect on Sharia Pension Fund Inclusion. Meanwhile, simultaneously independent variables (ROI, RITA, and Liability) significantly affect the positive effect of Sharia Pension Fund Inclusion in Indonesia.

Is Islamic Monetary System Possible in Indonesia? Interrelation Study between BI 7 Days Reverse Repo Rate and Nisbah Rate

The purpose of this study is to investigate the interrelationship between Bank Indonesia 7 Days Reverse Repo Rate (BI 7 DRRR) and Profit-Loss Sharing Rate (Nisbah Rate) in Islamic Sharia Banks (Bank Syariah Indonesia). Indonesia had been establishing conventional monetary system ever since and have yet to introduce Islamic approach to its monetary system. Now, in Islamic monetary perspective, interest rate doesn’t exist. Therefore, this research aimed to discover the possibility of Islamic approach in Indonesia’s monetary system, using Nisbah Rate launched by Islamic Sharia Banks as a substitution. The research was conducted using VAR (Vector Autoregression) to study the interrelationship between BI 7 Days Reverse Repo Rate and Nisbah Rate, using data obtained from Islamic Banking Statistics through Indonesia’s Financial Service Authority (OJK) monthly during 2021-2023. The result showed that both BI 7 Days Reverse Repo Rate and Nisbah Rate did cause impact on one another, and thus the possibility of establishing Islamic monetary system is not completely disregarded. This investigation contributes to the ongoing discourse surrounding the integration of Islamic financial principles into conventional monetary frameworks. By highlighting the reciprocal influence between conventional monetary policies and Islamic financial instruments, this study underscores the potential for a hybrid monetary system that accommodates Islamic principles within the Indonesian financial landscape.

ANALISIS PUTUSAN PENGADILAN TINGGI MEDAN NOMOR 66/PID.SUS/2018/PT.MDN TERKAIT TINDAK PIDANA PERPAJAKAN

If in the activities of a company there is a criminal element, then in this case there is a criminal act of taxation, even if it is committed by the company itself, and although it is subject to responsibility, there is no legal basis for the theory of piercing the veil of the corporation Justified. To other parties such as directors or shareholders. Provisions regarding beneficial rights have not been regulated in the Criminal Procedure Code and the Tax Procedure Law, but beneficial owners can be held accountable as parties who have the power to control the company, such as giving instructions to the company's directors. In Indonesia, beneficiary ownership rights include Financial Services Authority Regulation No.12/POJK. 01/2017 dated March 16, 2017 concerning the Implementation of Anti-Money Laundering and Anti-Terrorist Financing Programs in Financial Services; It is strictly regulated by several laws. Unfortunately, this provision does not apply in the Presidential Regulation of the Republic of Indonesia Number 13 of 2018 concerning the Application of the Principle of Recognizing Business Excellence in the Framework of Prevention and Eradication of Money Laundering and Terrorist Financing. Crime in the field of taxation. In the field of taxation, the regulation regarding beneficial owners is very limited and only applies to foreign taxpayers, so it still provides opportunities for beneficiaries in the sense of actual beneficial owners to commit tax crimes.

Analisis Reaksi Pasar Terhadap Keterlambatan Penyampaian Laporan Keuangan Interim

The late submission of interim financial reports causes companies listed on the Indonesia Stock Exchange (IDX) to pay a fairly large amount of fines. The Financial Services Authority (OJK) issued regulations for companies going public to report and publish audited annual financial reports, so that each company must submit accordingly and on time. Therefore, this research aims to determine the comparison of abnormal returns and stock trading volume before and when there is a delay in submitting financial reports. The data used in this research are the financial reports of companies registered on the IDX that are late in submitting financial reports. The results of this research show significant differences in abnormal returns and stock trading volume before and after the delay in submitting interim financial reports. The study uses the average difference test method, with the object of the financial statements of 35 listed companies that have not submitted financial reports for the period 2021 to 2022. After descriptive statistical analysis, there are company values that are recorded as poor in submitting their interim financial reporting. The results showed that there was a significant difference between the performance before and after the company's financial reporting on abnormal returns and stock trading volume on the submission of financial reports.

Law and Regulation as Safeguards for Investors Against Crime in Capital Market Sector

As a country with potency in economic growth, Indonesia is supported by several essential sectors, and one of them is through the Capital Market. The capital market enables the growth acceleration for a company or country by providing the needed fund. At least, through this medium, there are reciprocal benefits obtained by both parties involved in the Capital Market: issuers with capital injections, and investors with dividends and price increases. Unfortunately, there are big risks that investors have to deal with in capital markets, and some of them are related to fraud, market manipulation and insider trading. The results of this research found that government has enacted regulations that protect investors' rights through the Capital Market Law and the Financial Services Authority Law. However, there are still weaknesses in this regulation, especially for types of crimes that are still not regulated in this regulation. Moreover, it is necessary to have sufficient prowess from the authorized institution, especially the Financial Services Authority (OJK), to resolve cases in accordance with the applicable law aiming to protect investors' rights.

Pertanggungjawaban Hukum Kepada Lender dari Konsep Bisnis Inventory Financing serta Penyelesaian Sengketa

The Inventory Financing business model is starting to develop in the peer-to-peer lending system in Indonesia. The development factor from peer-to-peer lending to Inventory Financing is the existence of collateral that is still controlled by the borrower (debtor). This research examines the legal responsibility of the lender in Inventory Financing, and dispute resolution when one party is negligent in performing its obligations. This article aims to find Inventory Financing arrangements that protect lenders and dispute resolution methods of Inventory Financing. This research uses a normative juridical method (desk research) using secondary data, namely laws and regulations and theories of contract law, development law, and legal protection. The findings in this study are that Inventory Financing is still not regulated, so it has the potential to cause disputes in its implementation. Another finding is that the method of resolving inventory financing disputes can be done through judicial and non-judicial institutions (Alternative Dispute Resolution Institutions). Alternative Dispute Resolution Institutions can be ideal because they can resolve problems quickly, easily, and cheaply.Keywords: Alternative Dispute Resolution Institution, Financial Services Authority, Peer to Peer Lending

The Influence of Zakat on Financial Performance (SCnP Model) with Islamic Corporate Social Responsibility as a Moderating Variable

Islamic banking is a financial institution that has a noble mission and goals. In addition to seeking profits, Islamic banks also pay attention to social aspects. This study aims to examine the effect of Zakat on Financial Performance (SCnP Model) with Islamic Corporate Social Responsibility as a Moderating Variable. This research uses a type of quantitative research with an associative approach. The population of this study is Islamic Commercial Banks registered with the Financial Services Authority (OJK) for the 2018- 2022 period. The sampling technique used purposive sampling to obtain 7 Islamic Commercial Banks. The data processed is secondary data obtained from annual reports published through the official website of each bank for 2018-2022. The data analysis technique used is multiple regression analysis with the help of the Eviews-10 software program. The results showed that Zakat has a positive and significant effect on Financial Performance (Sharia Conformity), Zakat has a negative and significant effect on Financial Performance (Profitability), Islamic Corporate Social Responsibility can moderate the effect of zakat on Financial Performance (Sharia Conformity) and Islamic Corporate Social Responsibility is not able to moderate the influence of zakat on Financial Performance (Profitability). Keywords: Zakat, Financial Performace (SCnP Model), Islamic Corporate Social Responsibility