› › Dynamics Of Islamic Finance Products And Contracts In Indonesia

DYNAMICS OF ISLAMIC FINANCE PRODUCTS AND CONTRACTS IN INDONESIA

Author : DYNAMICS OF ISLAMIC FINANCE PRODUCTS AND CONTRACTS IN INDONESIA

Publisher : Tazkia

Page : 477 pages

File Size : 40,25 MB

Release : 2018-06-22

Category : Antiques & Collectibles

ISBN : 6027540168

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Book Description

“Bank Indonesia terus berupaya mendukung pengembangan keuangan syariah melalui blueprint dengan pembentukan lima pilar strategis: Pengembangan produk dan pasar keuangan syariah, pengembangan sumber daya manusia, memperkuat kerangka kerja, pembiayaan untuk sektor riil dan UMKM serta mempromosikan struktur industri yang lebih efisien dan berpartisipasi dalam keuangan syariah global. Lahirnya buku Dinamika Produk dan Akad Keuangan Syariah di Indonesia ini tentu sejalan dengan upaya tersebut.” Agus D.W. Martowardojo Governor of Bank Indonesia “No doubt, Islam is a system and way of life which is intact and unified. It is not just a torch to truth and salvation, but also a complete guide to all aspects of life in this world, including in the financial sector. Publication of the book entitled The Dynamics of Islamic Financial Products and Contracts in Indonesia is one such proof. Islam emphasizes the ‘dualism of piousness’; pious in terms of spirituality and financial matters, and clearly the book is one of the ‘white paper’ that everyone should read” KH. Ma’ruf Amin The Chief of Indonesian Ulama Council



Islamic Banking in Indonesia

Author : Rifki Ismal

Publisher : John Wiley & Sons

Page : 491 pages

File Size : 25,45 MB

Release : 2013-02-22

Category : Business & Economics

ISBN : 1118509951

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Book Description

A comprehensive overview of key developments in Islamic banking In Islamic Banking in Indonesia, renowned economist Dr. Rifki Ismal explores current issues in Islamic banking and financial products with a particular focus on the danger of liquidity risk in Indonesia. It approaches liquidity risk from the conventional perspective of international banking standards, as well as from the Islamic banking perspective. Dr. Ismal also covers the issues of asset-liability balancing, liquidity risk index, organizational structures for managing liquidity, industrial analysis, withdrawal risk, bankruptcy risk, moral hazard risk, and market risk. Compiling all the latest academic research on liquidity risk and other risks in Islamic banking, the book provides a theoretical foundation for managing risk that will is highly useful for researchers on Islamic banking and practitioners and academics. Written by a renowned expert on Islamic banking who works on monetary policy at the central bank of Indonesia Covers the latest developments in Islamic banking, particularly liquidity risk, for a rapidly expanding market Ideal for European and American readers, in addition to Asian readers, who need a fuller understanding of Islamic banking institutions, markets, and products With the latest academic research and the expertise of a leading practitioner in Islamic banking, this book offers in-depth coverage of the most pressing issues in the field.



The Construction of Akad (Contracts) to Develop of Islamic Banking Products in Indonesia

Author : Ruslan Abdul Ghofur

Publisher :

Page : pages

File Size : 34,46 MB

Release : 2016

Category :

ISBN :

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Book Description

The principle of flexibility in Islamic business transactions is the main capital to face the complexity of economic problems as well as the amount of people's demands for the role of Islamic banking. Unfortunately, the banking practitioners often transact narrow to understand the principles of transaction in Islam. The impact is so limited space for Islamic banking to understand what is society need. This paper explores strategic steps in the development of Islamic banking products to remain bound by principles and values ​​syar'i . Such steps include: first , rekonsepsi understanding akad - akad Islamic bank ; second , optimizing the role of Sharia Supervisory Board ( DPS ) ; Third , the potential socioeconomic empowerment . If these three steps are performed by Islamic banking, we believed that Islamic banking will able to meet the demands of society in realizing social welfare.



Islamic Economic Institutions In Indonesia: Are They Successful In Achieving The Maqasad-al-shari'ah

Author : Toseef Azid

Publisher : World Scientific

Page : 265 pages

File Size : 45,10 MB

Release : 2023-04-10

Category : Business & Economics

ISBN : 9811272700

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Book Description

Islamic institutions have had a very long history, whose performance was muted during the Colonial Period. However, after the Second World War, the revival of the Islamic institutions began. Throughout its history, it had been assumed that these institutions are working for the betterment of humanity. Their target is to achieve a high level of the welfare for the concerned community. Historically these institutions were waqf, zakat and sadaqat. However from the last three decades, Islamic financial institutions have been established with the objective of providing interest- free products, transaction and services for Muslims. However there has been lot of criticism on the performance and role of these institutions. This becomes especially pertinent in a Muslim country like Indonesia, where there is a dire need to know that how these institutions are working and if it is possible for them to achieve the objectives of the Shari'ah. Some scholars have claimed that these institutions are performative and only serving 'lip service', and there are no significant differences between the Islamic and secular institutions where both kinds of institutions operate on the same foundations and differ only in use of technical terminologies. This volume aims to analyze some of the Islamic institutions which are operating in the world's biggest Muslim country, Indonesia, as a case study and analyze the contemporary Islamic Banking products and practices in the light of 'Maqasad al-Shari'ah'. The book's objective is to propose an improved system of Islamic institutions for Muslims to refer to. This volume will also analyze why these institutions are currently not able to comply with the Maqasad al Shari'ah and how it is possible to enhance the level of economic development, social wellbeing, individual freedom and equality, elimination of injustice and poverty, and achieve the other targets of the Maqasad through these institutions.



The Future of Islamic Banking and Finance in Indonesia

Author : Romi Adetio Setiawan

Publisher : Taylor & Francis

Page : 193 pages

File Size : 14,38 MB

Release : 2023-07-20

Category : Business & Economics

ISBN : 1000910539

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Book Description

Sharia-compliance is the raison d’etre of Islamic banks. All of their instruments and activities should be based on sharia principles, which unfortunately exposes them to greater risks than their conventional counterparts, regulated under the dual banking system in Indonesia. These include inconsistencies between fatwas, unique reputational risks, and inefficiencies in the regulatory framework governing Islamic banks. This book critically examines the less-studied issue of developing an Islamic banking regulatory and supervisory framework that considers the risk pressures faced by Islamic banks’ operations in an Indonesian financial sector dominated by conventional banks. The book assesses the extent to which the global financial standards of the Basel Accords have been followed by Islamic Banks in Indonesia, with respect to their regulation, supervision, and risk management, to highlight the unresolved tensions in the multiple regulatory and supervisory institutions. The book proposes a middle-ground approach that accommodates modification of the existing financial regulatory and supervisory system in line with international best practice. The reforms proposed in this book offer a way for financial regulatory and supervisory agencies to further develop modern Islamic law and finance. The book will be a valuable resource for scholars and policymakers interested in the dual banking system in Indonesia.



The Growth of Islamic Banking in Indonesia

Author : Yasushi Suzuki

Publisher : Routledge

Page : 127 pages

File Size : 31,45 MB

Release : 2020-12-22

Category : Business & Economics

ISBN : 1000282724

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Book Description

Indonesia is the most populous Muslim country in the world. Taking into account also its endowment and potential economic resources, the Islamic banking industry in Indonesia was expected to take on an important role in facilitating more financial resources and to contribute to the internationalization of the Islamic mode of financing particularly in the Asia-Pacific region. However, the reality is far from the expectation. This book aims to clarify the causes and fundamental constraints leading to the extraordinarily low level of Indonesia’s Islamic financial deepening. The authors draw on the traditions of Institutional Economics which are concerned with the rules or mechanisms of creating the 'incentive' and 'threat' for economic players because the rules (institutions) would matter as the determinant for economic development and economic efficiency. This book offers a fairly new analytical lens by hypothesizing that Islamic banks must earn additional profit– the authors coined as ‘Islamic bank rent’ - to maintain their franchise value as prudent Shari’ah-compliant lenders when compared to conventional banks. The authors argued that insufficient provision of the Islamic bank rent opportunity may have caused the Indonesia’s Islamic banks the opportunity to learn and improve their skill and capacity for the credit risk management. The book also offers evidence in support of implementing economic and affirmative policy necessary for incubating and developing the Islamic banking industry in Indonesia and making Indonesia an international Islamic financial hub in the Asia-Pacific region. This book will be a useful resource for policy makers and researchers interested in Islamic banking in Indonesia.



An Overview of Islamic Finance

Author : Mr.Mumtaz Hussain

Publisher : International Monetary Fund

Page : 35 pages

File Size : 17,96 MB

Release : 2015-06-02

Category : Business & Economics

ISBN : 1513565621

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Book Description

Islamic finance has started to grow in international finance across the globe, with some concentration in few countries. Nearly 20 percent annual growth of Islamic finance in recent years seems to point to its resilience and broad appeal, partly owing to principles that govern Islamic financial activities, including equity, participation, and ownership. In theory, Islamic finance is resilient to shocks because of its emphasis on risk sharing, limits on excessive risk taking, and strong link to real activities. Empirical evidence on the stability of Islamic banks, however, is so far mixed. While these banks face similar risks as conventional banks do, they are also exposed to idiosyncratic risks, necessitating a tailoring of current risk management practices. The macroeconomic policy implications of the rapid expansion of Islamic finance are far reaching and need careful considerations.



A Shari'ah Evaluation on Micro Financing Products in Islamic Banks in Indonesia

Author : Muhammad Iman Sastra Mihajat

Publisher :

Page : 520 pages

File Size : 14,91 MB

Release : 2015

Category :

ISBN :

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Book Description

Indonesia is home to the largest Muslim majority financial market in the world, and has a highly complex micro finance and rural finance sector which has evolved over the last century. Interestingly, micro financing services have always accounted for the largest component of financing activities extended by Islamic banking institutions in Indonesia, due to the fact that the majority of Indonesian people are in the middle to low level income category. This study highlights the history and development of micro financing in Islamic Financial Institutions (IFIs) in Indonesia and attempts to evaluate the shariah aspects in micro financing products in Indonesian Islamic banks which covers 7 (seven) Islamic banks and 15 (fifteen) Islamic rural banks (BPRS). There are five major contracts that are used in micro financing products in Indonesian Islamic banks which are murabahah, ijarah, mudarabah, musharakah and rahn. In Indonesia, until June 2012, the murabahah contract still dominated as the instrument of choice for Islamic banks that uses micro financing for MSMEs (Micro, Small and Medium Enterprises) comprising of 56% of the total financing portfolio. Interestingly, the contract of qard (loan without interest) increased significantly from only IDR1.829 trillion in 2009 to IDR12.937 trillion (12%) in 2011. This study discusses and evaluates the shariah compliance of micro financing products in Islamic banks in Indonesia in accordance with the fatwas of DSN-MUI (National Shari'ah Board Indonesian Council of Ulama), Bank Indonesia Regulations (PBI), and classical fiqh doctrines. This study indicates that the majority of micro financing products in Islamic banks in Indonesia comply with Fatwa DSN-MUI and Bank Indonesia Regulations. However, there are some relevant shariah issues that need to be further addressed despite their compliance with sharīcah regulations issued by DSN-MUI and Bank Indonesia, including combination of contracts and selling gold on installment which is clearly prohibited in a hadith of the Prophet Muhammad (pbuh).



Islamic Finance in Europe

Author : Valentino Cattelan

Publisher : Edward Elgar Publishing

Page : 260 pages

File Size : 42,60 MB

Release : 2013-01-01

Category : Business & Economics

ISBN : 1781002517

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Book Description

Highlighting the impact of current globalization on financial markets, this topical book challenges the universality of Western property rights and interprets Islamic finance in Europe as part of a plural financial system, where different conceptions of economic justice(s) co-exist and influence each other. The contributing authors analyse key economic development and social integration issues from an Islamic perspective and outline the European approach to accommodating Islamic finance, with particular regard to the peculiarities of individual nation-states. Set in this context, the book presents financial pluralism as a device to enhance a level playing field in the global marketplace, as well as to foster a plural open society. Providing a comprehensive and methodological guide to Islamic finance in Europe, this book will prove an illuminating and informative read for academics, students and policymakers with an interest in the impact on financial regulation of an increasingly globalized world.



Islamic Finance

Author : Mr.Alfred Kammer

Publisher : International Monetary Fund

Page : 38 pages

File Size : 41,74 MB

Release : 2015-04-06

Category : Business & Economics

ISBN : 1498325033

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Book Description

The SDN discusses the main policy issues and challenges in building an inclusive and safe Islamic finance industry, with emphasis on Islamic banking and Sukuk markets. To this end, it discuses why Islamic finance matters, taking into account its recent and prospective growth; and, its potential contributions in terms of financial inclusion, support for small- and medium-sized enterprises and investment in public infrastructure and, in principle, reduced systemic risk. It then covers a range of regulatory and other challenges, and offers policy advice, to address factors that hamper the development of the industry and, more generally, the delivery of its potential benefits. The paper covers regulatory and supervisory issues, safety nets and resolution frameworks, access to finance, Sukuk markets, and macroeconomic policies.