Non-Bank Financial Industry Research Articles

Kedudukan Produk Pinjaman Online Pada Perbankan

Online lending products have become an integral part of the modern banking industry, fundamentally changing the financial services landscape. They provide greater accessibility for consumers, allowing them to apply for loans without having to visit a physical bank. The place of online loan products in banking also raises various questions and debates. From the perspective of supporting financial inclusion, online lending products expand the reach of financial services, benefiting individuals or small businesses that find it difficult to qualify for traditional loans. The existence of online loan services in the non-bank financial industry in recent years is the answer to the lack of access to funding to small communities. The purpose of this research is to find out how the position of online loan products in banking and also to find out about the position of online loan services in the Non-Bank Financial Industry and targeting the un-banked people segment which is often associated with people who do not have sufficient open access to the banking service system. This research uses the literature research method. In this article, the researcher has concluded that the position of online loan products in banking is in accordance with the function of banks, namely collecting funds from the public in the form of deposits and channeling them to the public in the form of credit and/or other forms. This includes offering online loan products in the context of its role as a digital bank. However, it cannot be equated with online lending or fintech peer-to-peer lending.

Beyond the Balance Sheet: Analyzing the Relationship between Corporate Governance, Financial Performance, and Stock Prices in Pakistan's Non-Bank Financial Industry

This study explores the complex relationship among corporate governance, financial performance, and stock prices in Pakistan's non-bank financial industry from 2017 to 2021. Employing panel least squares and generalized method of moments for empirical analysis, our research highlights the substantial and positive correlation between stock prices and earnings per share, emphasizing the significance of profits per share. Corporate governance factors, such as board meetings, board size, and board independence, exhibit shaded impacts on stock prices. Board meetings transition from insignificance in static analysis to a negative, substantial association in dynamic analysis. Conversely, board size and board independence remain insignificant, suggesting a limited influence on stock price fluctuations. Institutional ownership emerges as a robust driver, displaying a positive impact in both static and dynamic analyses. In contrast, managerial ownership yields mixed impacts, with static analysis revealing a nonsignificant negative relationship and dynamic analysis unveiling a significant negative association. The study underlines the need to consider both static and dynamic perspectives when evaluating these relationships, highlighting the temporal dynamics and lagged effects in assessing the influence of managerial ownership on stock prices. Additionally, return on assets demonstrates an insignificant impact on stock prices in Pakistan's non-bank financial industry, consistent across both static and dynamic analyses.

The Financial Services Authority's Regulatory Role in Backdoor Listings in Indonesia

Efforts that a limited liability company can make to increase profits and the existence of its business are to become a public company. IPO requirements, which are complicated and require many costs, are an obstacle experienced by companies wishing to list their shares on the stock exchange. To overcome this problem, business people have found various strategies to gain profits in the capital market, like public companies, but without going through the IPO mechanism. Backdoor listing is a company listing its shares on the stock exchange without going through the IPO process. Otoritas Jasa Keuangan has been declared an independent institution that supervises financial institutions, both banks and non-banks. Supervision of capital markets and the non-bank financial industry, which the Ministry of Finance previously carried out through Bapepam-LK (Capital Market and Financial Institution Supervisory Agency), has officially shifted to the OJK. To carry out a public offering, the issuer must first obtain "permission" from the OJK by submitting a registration statement. The Backdoor listing process does not have a clear legal umbrella, so there is no standard reference for the procedures carried out, whereas compared to an IPO, which has a definite legal basis, has wide circulation, and is strictly supervised by the competent authorities. This study aims to determine the role of the OJK in regulating the implementation of backdoor listing in Indonesia, which is then examined using normative juridical methods with statutory and conceptual approaches. The results of this study are that it is hoped that the government, especially the OJK, will make special regulations regarding the implementation of backdoor listing.

Improving Sharia Financial Literacy in Indonesia on A Digital Basis with the Introduction of the Sharia Non-Bank Finance Industry (Iknb) and Its Instruments

The Islamic non-bank financial industry has experienced significant growth in recent years. In the context of an increasingly complex modern economy, this industry has played an important role in facilitating financial activities that comply with sharia principles. This journal aims to contribute to existing knowledge by presenting research papers, case studies, and theoretical discussions relating to the non-bank Islamic finance industry, while the purpose of the service is to increase public literacy towards Sharia IKNB. The method used in carrying out this community service activity is semi-structured and discussion, which includes material using short videos uploaded on social media with a discussion model in the form of asking questions and statements through the comment’s column. That way the results obtained from this service activity are the participant's literacy level towards IKNB and Sharia IKNB indicating that on average new participants understand the concept of Sharia IKNB.

Analisis Yuridis Peran OJK dalam Melakukan Perlindungan Hukum Korban Pinjaman Online Berdasarkan Peraturan Otoritas Jasa Keuangan Nomor 77/Pojk.1/2016

OJK is an independent institution that has the authority to regulate and supervise financial services activities in the banking sector, capital markets sector and non-bank financial industry (IKNB) sector. OJK itself was formed and based on the principles of good governance including independence, accountability, responsibility, transparency and fairness, which institutionally OJK is not part of the government's authority. The OJK institution itself was born with law no. 21 of 2011 concerning the OJK Institution which came into effect on January 1 2013, which has the authority to regulate and supervise financial institutions, especially banking in Indonesia, as stated in Law No. 21 of 2011 Article 5. On October 20 2021, the online loan case went viral. illegal or legal, starting from debt collectors from illegal loans who start collecting on the 3rd day of the payment deadline to hacking the victim's cellphone to get contacts of the victim's family or people closest to them, so that the OJK often blocks illegal online loan applications on Playstore. This article uses the statue approach method and conceptual approach to legal research which examines laws and regulations relating to legal issues and provides an analytical perspective on solving problems in legal research seen from the aspect of the legal concepts behind them. The research results found that only legal loans can be reported to the OJK while illegal online loans can be reported to the police

PENERAPAN MODEL PEMBELAJARAN SNOWBALL-THROWING UNTUK MENINGKATKAN HASIL BELAJAR MATA PELAJARAN EKONOMI KONSEP BANK DAN INDUSTRI KEUANGAN NON-BANK

This study aims to determine the effect of the Snowball Throwing learning model to improve learning outcomes in economics subjects Concepts of Banks and the Non-Bank Financial Industry. The research method used is a quasi- experimental method in the form of a noun equivalent control group design. The population in this study were all class X students of SMAN 1 Pagelaran, totaling 152 students. The sampling technique was purposive sampling, that is, class X-3 (experimental class) with a total of 30 students and class X-5 (control class) with a total of 30 students. The data collection technique in this study was using multiple choice tests and the data analysis technique used was paired samples T-test and independent samples T-test. The results of this study indicate that 1) There are differences in the learning outcomes of students in the experimental class using the Snowball Throwing model in the initial and final measurements with an average n-gain value of 0.717 (high). 2) There are differences in the learning outcomes of students in the control class using conventional models in the initial measurement and final measurement with an average n-gain value of 0.697 (moderate). 3) There is no difference in increasing the ability of students' learning outcomes between the experimental class and the control class.

Peran Otoritas Jasa Keuangan Dalam Menjaga Stabilitas dan Keamanan Sistem Keuangan

OJK is the institution responsible for overseeing and regulating the financial services sector, including banking, the non-bank financial industry, non-financial corporations, households, financial markets, and financial market infrastructure. OJK has an important role in monitoring developments in the condition of the financial system, identifying, analyzing and assessing existing risks. In addition, OJK is also tasked with providing and conveying the necessary data and information and is responsible for the accuracy of the data and information submitted. Through strict supervision, strengthening financial system infrastructure, and preventive measures, OJK plays a role in ensuring the stability and security of Indonesia's financial system. 
 

Optimizing The Role Of Indonesia's Islamic Financial Industry :Empirical Analysis Of Its Impact on Economic Growth

Past research on the financial sector, which includes the whole financial services industry and is connected to economic growth, has remained scarce. The three main Islamic financial industry sectors in Indonesia—Islamic Capital Market, Islamic Banking, and Islamic Non-Bank Financial Industry—and their contributions to economic growth between 2014Q1 and 2021Q3 were empirically studied in the current study. The ARDL Bound-test for Cointegration and Error Correction Model was applied to the quarterly data (ECM). Three of the four research variables—sharia stocks, Sukuk, and sharia insurance—were found to have a considerable impact on GDP, whereas Islamic banking had no such impact. Islamic banks in Indonesia must therefore maximize funding for the productive sector. Future policies ought to take into account maximizing the contribution of the Islamic financial sector to economic growth.

DETERMINAN MARKET SHARE INDUSTRI KEUANGAN NON BANK SYARIAH INDONESIA

The market share of the non-Islamic non-bank financial industry is moving slowly, incomparable with Indonesia's Muslim population which reaches 87%. The purpose of this study was to determine the effect of assets and equity on the market share of the Islamic non-bank financial industry for the period 2017 to 2021. This research method uses a quantitative approach with an associative method. The sampling technique was carried out by researchers with special considerations (purposive sampling), namely the sampling technique with special considerations so that what is suitable as a sample. The data analysis technique used in this research is to carry out quantitative analysis expressed in numbers which in the calculations use statistical methods assisted by the statistical data processing program SPSS version 26 for Windows so that it can be seen whether there is an effect of several independent variables on the dependent variable. . From the results of data processing using SPPS, the results show that assets and equity do not affect the market share of the non-sharia financial industry in Indonesia for the period 2017 to 2021

TELAAH ILMIAH INDUSTRI KEUANGAN NON-BANK (INBK) SYARIAH DAN EKSISTENSINYA DI INDONESIA PASCA COVID-19

The purpose of this study is to examine Islamic financial institutions that are included in the Islamic Non-Bank Financial Industry (IKNB) and how they exist in Indonesia after Covid-19. The institutions studied in this study are Islamic insurance, Islamic financing institutions, Islamic pension funds, Islamic special financial services institutions, Islamic micro institutions, and Islamic fintech. The research used literature, namely research by examining several literature related to the issues raised and then reported qualitatively descriptively. The results showed that when the Covid-19 pandemic hit, IKNB Syariah experienced a decline in performance in several sectors, but overall it was still able to survive and grow positively, as evidenced by an increase in assets in 2021 of 4.409 billion from the previous year. Post-covid-19 Sharia IKNB assets in March 2022 amounted to 126.236 billion, an increase in November of 143.971 billion. IKNB Syariah has shown its existence after Covid-19.

Legal Protection of Online Investors on the Binomo App by Alert Task Force Investment Financial Services Authority

Background: Broadly speaking, an investment is a commitment to a certain amount of funds or other resources such as equipment, immovable assets, intellectual property rights, or expertise. Investments are made personally as well as by legal entities. Investment in general, has several objectives, the first, is to get a more decent life in the future, the second is to reduce inflationary pressures, and the third is to save taxes.
 
 Objective: This study aims to find out as well as analyze the legal protection of online Investors on the Bonomo application by the investment alert task force of the financial services authority. As well as knowing and analyzing about.
 
 Methods: This research belongs to the normative type of research. So it can be known that the legal protection of investors by brokerage companies has not been sufficiently able to accommodate the interests of investors.
 
 Result: In Law Number 21 of 2011 concerning the Financial Services Authority (OJK Law), the authority and duty of the OJK are to supervise Financial Services Institutions (LJK) in the capital market sector, the non-bank financial industry sector (such as insurance, pension funds, financing companies, etc.) and starting in 2014 will also supervise the banking sector (Commercial Banks and People's Credit Banks).
 
 Conclusion: Based on the above explanation, it can be concluded that the legal protection of investors by brokerage companies has not sufficiently accommodated the interests of investors.

Observing Digital Leadership Model through Interpretative Phenomenological Analysis a la Regulator during Pandemic Era

he COVID-19 pandemic has had a significant impact on changing people's behavior. The pandemic has become one of the accelerators for the acceleration of human civilization to internalize technology in various dynamics of human life. One of the sectors affected by this pandemic is the financial services sector, which includes the banking sector, capital markets, and the non-bank financial industry. This dynamic needs to be responded by the Financial Services Authority (OJK) as the regulator, supervisor, and enforcer and consumer protection service in the financial services sector in accordance with Law Number 21 of 2011 concerning the Financial Services Authority. The role of OJK representatives in the regions became significant as an extension of the head office. The role of digital leaders is needed in achieving task force performance through digital transformation. The phenomenological approach is an option in this research as a medium to explore research problems. Researchers use Interpretative Phenomenological Analysis (IPA) as a data analysis technique in tracing the meaning of the phenomenon that occurs. Based on the results of research conducted by the OJK of Southeast Sulawesi Province, seven qualities of the digital leader model in the success of digital transformation consisted of digital literacy, vision, stakeholder concern, agility, risk taking, collaboration, and compliance with regulations/policies.

The Effect of Non-Sharia Financial Instruments on Indonesian Economic Growth

The purpose of this study was to determine and analyze the impact and contribution of the non-bank financial industry (IKNB) and non-Islamic banking on Indonesia's economic growth before and during the pandemic. The variables used in this study are data on total assets of Sharia IKNB, IKNB, and Industrial Production Index (IPI) data as a measure of economic growth. The research method used is the Vector Error Correction Model (VECM) method using monthly time series data from 2015 to 2021. The research results reveal several results, the long-term VECM test of Islamic NBFI and NBFI variables has an impact on economic growth, while the IRF test shows that economic growth is resistant to shocks by sharia NBFIs and NBFIs over the next 60 years, contributing 11% and 4% to economic growth, respectively.

Islamic Finance-Growth Nexus: Evidence from Indonesia

Previous work on the financial industry, which covers the entire financial services sector and is related to economic growth, has remained limited. This present study empirically analyzed the growth of Indonesia’s three main sectors of the Islamic Financial Industry (Islamic Capital Market, Islamic Banking, and Islamic non-bank Financial Industry) towards economic growth between 2014Q1 and 2021Q3. The quarterly data was processed through the ARDL Bound-test for cointegration and Error Correction Model (ECM). The research revealed three of the four research variables (sharia stock, Sukuk, and sharia insurance) that significantly affect GDP, while Islamic banking shows no significant effect on GDP. As a result, Indonesian Islamic banks must optimize funds for the productive sector. Future policies should consider maximizing the role of the Islamic financial industry to accelerate economic growth.

Network Effects and Characteristics of Cross-Industrial Tail Risk Spillover in China

In recent years, the Chinese capital market has suffered several violent shocks, and the characteristics of systemic risk contagion across industries and markets have become increasingly important. It brings great potential danger to the stability of financial markets. Therefore, exploring the risk spillover among the real sectors has gradually attracted the attention of scholars. This paper examines the cross-industrial tail risk spillover network in the Chinese financial market. The characteristics and the dynamic contribution of each industry in the tail risk transmission chains are explored. We use the ∆CoES-ENGDFM-LVDN model based on monthly data from 2006 to 2020 to measure the tail risk of 28 industries in China and form a cross-industrial tail risk spillover network. The results show that different industries have different levels of spillover and importance in the network. Tail risk mainly spills over from the nonfinancial sector to the financial sector. The nonbank financial industry is the main recipient of tail risk spillover and is becoming progressively more important in the risk network. In addition, with the promotion of industrial structure, emerging industries such as communications, computers, and health care have begun to play more important roles in the tail risk spillover network in China. This paper not only enriches the research in the areas of tail risk spillover and systemic risk, but also has implications for regulators to maintain financial stability and prevent financial risks.

Access Rights of the Electronic Fiduciary Registration System for Corporation in Indonesia

In the modern era, legal services in Indonesia have to transform from conventional to electronic-based. One of the legal services that have been transformed is the electronic fiduciary registration system. The electronic fiduciary registration system is a breakthrough in the field of legal services that aims to increase state revenue through non-tax state revenues and create legal services in the registration of fiduciary guarantees that are faster, easier, cheaper and more accurate. Statistically, the enactment of an electronic fiduciary registration system since 2013 has provided a positive trend that has prompted the government to continue to improve both facilities and infrastructure regarding the electronic fiduciary guarantee registration system. Its existence is currently regulated in the Regulation of the Minister of Law and Human Rights Republic Indonesia Number 25 of 2021 concerning Procedures for Registration, Amendment and Abolition of Fiduciary Guarantees. This regulation regulates new content that has not been regulated in the previous regulation, namely the regulation regarding access rights for electronic fiduciary registration for corporations as one of the applicants. The granting of access rights to corporate is inseparable from the use of fiduciary guarantees as one of the guarantees in the credit distribution process by corporate in the form of the banking industry, non-bank financial industry, and other service industries.

Review of The Literature, Prospects, and The Impact of Bancassurance on The Stability of The Banking Industry

Existing literature, as well as empirical studies on Bancassurance, emphasize that there has been a shifting business in the bank from selling bank products to IKNB (Non-Bank Financial Industry). In this study, Bancassurance is one of the IKNBs that must be sold because the feather-based income is quite large and has a small risk because the bank is a referral as a distribution agent. The purpose of this research is to determine the characteristics of Bancassurance in various countries for the first time in Indonesia so that our human resources are not unfamiliar with the insurance sold in banks and can adjust the strategy to market characteristics in Indonesia. This paper discusses Bancassurance with various methodologies ranging from Expert Judgment to Risk Management by involving 15 international journal studies related to the implementation of Bancassurance in various countries including Google Scholar, Elsevier, and Science Direct. This paper will be useful as a topic for further research where researchers can identify the effect of bancassurance on banking, risks that occur in bancassurance practice, solutions to sales strategies, and system bottlenecks that occur between bank sales and sales bancassurance. The result of this research is the reluctance of selling banks to sell insurance products because they do not understand the concept of life insurance and unit link. In addition, bancassurance sales resources placed in the bank are not as good as insurance agents in general due to different incentives, incentive problems, and bottlenecks in the sales execution flow also make insurance targets cannot be achieved optimally. The solution is that Re-skills must be done in the "Virtual Century" era because the insurance link unit has also shifted from offline meetings to online so that all systems are done digitally. Coordination between resources is expected to go through a digitization process so that customer claims are quickly resolved, referrals are quickly executed and periodic coaching can be carried out by prohibited branch heads/superiors. Bancassurance with unit link customization/personalization will be a new value proposition.

Sistem Pendukung Keputusan Kelayakan Klaim Asuransi Menggunakan Metode AHP

Pertumbuhan asuransi di Indonesia belakangan ini mengalami peningkatan yang cukup baik hal ini dibuktikan pada statistik pelaku IKNB (Industri Keuangan Non Bank) yang diterbitkan oleh OJK (Otoritas Jasa Keuangan) pada Februari 2020. Pada desember 2018 jumlah pelaku IKNB berjumlah 1260 lalu mengalami kenaikan setiap bulannya hingga pada desember 2019 pelaku IKNB berjumlah 1330. Dari data tersebut pelaku IKNB mengalami peningkatan yang cukup baik, dimana asuransi termasuk dalam industri tersebut. Dengan banyaknya pelaku IKNB tersebut PT. SICO Andalan Utama yang merupakan salah satu perusahaan yang bergerak dalam industry tersebut merasakan hal peningkatan hal tersebut. Namun dengan peningkatan tersebut dibutuhkan pengelolaan asuransi terkhusus pengelolaan klaim karena butuh kehati-hatian dalam memutuskan keputusan kelayakan klaim. Maka untuk mengatasi permasalahan tersebut hal inilah yang mendasari penulis untuk mengusulkan pengembangan Sistem Pendukung Keputusan Kelayakan Klaim Asuransi yang nantinya diahrapkan dapat menghindari atau minimal mengurangi ketidak akuratan dalam menentukan kelayakan klaim. Sistem Pendukung Keputusan Kelayakan Klaim Asuransi ini dikembangkan dengan metodologi pengembangan sistem Rapid Application Development (RAD) sebagai alur dari pengembangan system. Sedangkan untuk pemodelan SPK nya menggunakan model Analytical Hierarchy Process (AHP). Dan juga menggunakan beberapa tools Unified Modelling Language (UML) , Business Process Modelling Nation (BPMN), dan Entity Relationship Diagram (ERD) untuk analisis maupun perancangannya. Dalam pengimplementasian system penulis menggunakan PHP sebagai Bahasa pemrograman dan MySQL sebagai Database. Metode pengujian menggunakan metode pendekatan White Box Testing, Black Box Testing Serta Usability Testing. Dengan diterapkan system ini diharapkan dapat memberikan keputusan kelayakan klaim yang tepat.

Penguatan Financial Performance dan Poverty Reduction Melalui Literasi Keuangan di Industri Keuangan Non Bank (IKNB) Syariah pada Masyarakat Jawa Tengah

Penelitian ini bertujuan untuk menganalisisa pengaruh aksesibilitas secara langsung terhadap performance financial, pengaruh aksesibilitas secara tidak langsung terhadap performance financial melalui poverty reduction, pengaruh ketersediaan secara langsung terhadap performance financial, pengaruh ketersediaan secara tidak langsung terhadap performance financial melalui poverty reduction, pengaruh kegunaan secara langsung terhadap performance financial, pengaruh kegunaan secara tidak langsung terhadap performance financial melalui poverty reduction, pengaruh Performance financial secara langsung terhadap poverty reduction. Penelitian ini dilakukan di industri keuangan non bank (IKNB) syariah di wilayah Jawa Tengah yang tergabung dalam Laporan Keuangan Syariah OJK dan Laporan BPS Jawa Tengah. Hasil penelitian yaitu aksesibilitas tidak berpengaruh secara langsung terhadap performance financial (p.0,318>0,05). Ketersediaan tidak berpengaruh secara langsung terhadap performance financial, hal ini dibuktikan dengan nilai t statistik (p.0,605>0,05). Kegunaan tidak berpengaruh secara langsung terhadap performance financial, hal ini dibuktikan dengan nilai t statistik (p.0,456>0,05). Performance financial tidak berpengaruh secara langsung terhadap poverty reductin, hal ini dibuktikan dengan nilai t statistik (p.0,153>0,05).

The effect of financial performance and corporate governance to stock price in non-bank financial industry

Indonesia’s financial sector is highly dominated by the banking industry than the non-bank. It controlled almost 74% of Indonesia’s financial assets in 2014. After post-crisis restructuration, the banking sector has become stronger, with a higher capital adequacy ratio and profitability. While, the non-bank financial industry is expected to solve the problems in the Indonesian economy, as well as becoming one of the long-term economic instruments. The purpose of this study is to test and analyse the effect of financial performance and the implementation of corporate governance on the non-bank financial industry stock prices on the Indonesia Stock Exchange in 2012-1016. The research population includes the non-bank financial industry listed in IDX, as many as 37 companies. This study found the probability, managerial ownership, institutional ownership and the composition of the independent commissioner partially and simultaneously does not significantly influence the stock price of the non-bank financial industry.