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Perdagangan Berjangka Komoditi : Berdzikirlah dengan Physical Delivery

Tutuko, Bambang

El Dinar Vol 5, No 2 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

Commodity Futures Trading in Indonesia is administered by the government under the auspices of the Commodity Futures Trading Supervisory Agency (BAPPEBTI) with the aim of establishing the price of primary commodities (price discovery) and as a hedging facility using futures contracts. However, current futures trading is only a means of speculation caused by its specifications and transaction mechanism.The application of the three principles of dhikr: the principle of harmony, the principle of integrity, and the principle of one on the quest for hedging solutions in commodity futures will lead to trade where the parties who transact share the risk (risk sharing). Risk sharing can only occur if there is a common goal between buyers and sellers to manage risk (the principle of the one-an). The similarity of objectives will result in a commitment between buyers and sellers to perform physical handover backed by regulation to create a liquid market (the principle of harmony), so that the wholeness of trade mechanisms involving market participants, markets, and regulators will be maintained. The integrity of the role of the stakeholders of commodity trading is what will lead to the solution of the hedge without having to separate the risk with its trading activities (principle of wholeness).The "dhikr" hedging is a hedge accompanied by the certainty of ownership transfer through physical delivery of physical commodities. Thus, the hedge is not separate from its real trading activity, because the risk is always attached to the profit-making business activity.

PENGUKURAN KEPUASAN NASABAH TERHADAP IMPLEMENTASI SYARIAH MARKETING PADA PT. BANK SYARIAH MANDIRI CABANG MALANG

Hasan, Irmayanti

El Dinar Vol 5, No 1 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

Competition is increasingly competitive in the development of Islamic bank in Indonesia and policy enforcement office channeling makes the atmosphere seizure of shariah loyalists consumers increasingly viscous. The phenomenon of this competition requires marketers to constantly innovate marketing strategies. One step to achieve this is through the implementation of sharia marketing.The approach used in this study is a survey approach and type of research is quantitative. This study used 16 items, then the sample is 80 customers.The results of this study are customers already feel very satisfied with the services of employees of PT. Bank Syariah Mandiri Malang Branch, but the performance of employees of PT. Bank Syariah Mandiri Malang Branch must still be improved. There are several strategies to increase customer satisfaction, there are some things that should be emphasized and some are already well do not need to be prioritized, but still need to be considered by PT. Bank Syariah Mandiri Malang Branch.

OPTIMALISASI WAKAF MARKET MELALUI PENGEMBANGAN GO WAKAF (STUDI PADA MINIMARKET “AL-KHAIBAR” MALANG)

Agutian R.S, Egi, Afuw, Hayyu, Nordiana M.A.S, Yulinda

El Dinar Vol 5, No 2 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

Muslims in Indonesia are the most major element. With a population of 254.9 million, Indonesia is the country with the largest number of Muslims in the world. Based on data from the Central Bureau of Statistics 2015, the number of Muslims in Indonesia is about 87%. But not optimally run the function of the mosque as a central activity of Muslims both in mahdhah worship and ghair mahdhah. In order to realize the function, the potential development of Islamic philanthropy in the mosque becomes the right choice one of them is the development of productive waqf in the form of wakaf market.Wakaf market Al-Khaibar Malang is an access for people to simplify the system of sale and purchase based on the mosque. However, market managed wakaf needs to adjust the current state of digital-based. Therefore, Al-Khaibar market wakaf need to develop vehicle waqf to be the target market expansion. The purpose of this research is Knowing Capital and Development of productive waqf mini market Al-Khaibar and provide innovative development of productive waqf mini market Al-Khaibar.The type of research used in this study is empirical research (field research). data collection methods that researchers use is by interview and documentation and secondary data that other litelatur relevant to the research material. Data analysis method used in this research is descriptive analysis.The results obtained, Minimarket Al-Khaibar has a policy of implementation of productive endowments include the percentage of installment repayment minimal mini capital to be returned and allocation of funds productive endowments. Nadzir reward is intensive alaih. The minimarket manager consists of managers and employees. Employment recruitment is preferred from surrounding communities and people in need of employment, prospective workers register with application letter, following interview selection by manager. Also establishing partners with distributors like Unilever and the location of minimarkets adjacent to the mosque is very strategic in the development effort Go Wakaf. So that the mosque is really central to the activities of Muslims, especially in the field of independent economy.

PATRON CLIENT: KONTRAK SEMI MUDHARABAH DALAM TEORI KEAGENAN DI PERIKANAN LAUT

Qurrata, Vika Annisa

El Dinar Vol 5, No 1 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

This study aims to find out how the skipper (as principal) interact with pandega fishermen (as agents) in creating mudaraba-style contracts in marine fisheries (patron-client). With in-depth interviews, there are two important findings: in general juragandi Blue Water Waters especially in the payang fishermen and the lifeboats impose exploitation fees or operational costs to the pandega fishermen in a shared way. Then there is a bit of aberration in the profit-sharing system, but this institution seems to exist and be a deal that never openly conflicts. Based on the findings and some literature, mudaraba contracts can be a purely alternative financing if it is more just and beneficial to both parties ie the master / shahibul maal as principal and pandega / mudharib as agent. To minimize the possibility of moral hazard and adverse selection on the mudaraba contract, it is advisable to monitor each return of the vessel for the sale of fish and the skipper can place one of the trustees other than the pandega fisherman.

WAKAF SEBAGAI INSTRUMEN KEBIJAKAN PEMERINTAH UNTUK MENGATASI EKSTERNALITAS BARANG PUBLIK (PERSPEKTIF MAQASHID SYARI’AH)

Sancoyowati, Figuri

El Dinar Vol 5, No 2 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

Economic development bring externalities as a consequence of an economic activity in positive and negative side. An externality has beencaused by public goods whichis a goods that consumed by individual and will not effect to other in consumption of it. The issue of public goods is about a freeryder which caused in efficiency in government expenditures. Wakaf as a financial instument in Islam could bean alternatif to gainnationalin come that can solvean externality of public goods.

PENGEMBANGAN PROGRAM PEMBERDAYAAN MASYARAKAT MELALUI LEMBAGA AMIL ZAKAT INFAQ DAN SHODAQOH (ZIS) BERBASIS ENERGI TERBARUKAN DI INDONESIA

Trapsila, Aji Purba

El Dinar Vol 5, No 1 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

Indonesia is known well for having the greatest number of energy in the world, such as the energy of air, wind, biomass, and solar. However, the energy has not been empowered yet by Lembaga Zakat Infaq dan Shodaqoh (ZIS), which is an institution managing zakah, infaq, and, shadaqa in Indonesia. The institution currently empowers only the products of education and economic. Regarding to that fact, this study describes a concept of an empowerment product of renewable energy conducted by Lembaga ZIS through a finance scheme of mudhorobah and musyarokah. To empower the energy, moreover, Lembaga ZIS uses Participatory Rural Appraisal (PRA) so that the energy finance can give either social impacts or economic ones.This study reveals that it needs participation from any parties and particularly support from the government and the state energy enterprise in order to finance the energy for society. Furthermore, this study shows that the scheme of mudhorobah and musyarokah is a scheme that can be used to finance therenewable energy.

Pengaruh Orientasi Pasar terhadap Nilai Inovasi, Keunggulan Bersaing, Kinerja Unit Usaha dan Jasa Berbasis Syari’ah. (Studi Kasus unit Usaha dan Jasa berbasis Syari’ah di Wilayah Malang Raya)

Alim, Syahirul

El Dinar Vol 5, No 2 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

The marketing concept states that to achieve organizational goals such as market share and profitability depends on the companys ability to determine the needs and wants of the target market and satisfy it more effectively and efficiently than its competitors.The purpose of this study is to examine whether pangaruh between market orientation, innovation value and competitive advantage to the performance of business units and services based on sharia. The results of statistical tests show that market orientation has a significant influence on the value of innovation. Market orientation with competitive advantage has significant influence. The value of innovation with competitive advantage has significant influence. The market orientation with the performance of sharia-based business units and services has no significant effect. This study proves that the value of innovation and competitive advantage is the intervening variable to create the performance of shariah-based business units and services.

PERAN KOMITMEN ORGANISASI SEBAGAI MEDIATOR PENGARUH ETIKA KERJA ISLAM TERHADAP SIKAP PADA PERUBAHAN

Andriyanto, Irsad, Haerudin, Haerudin

El Dinar Vol 5, No 1 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

The aim of this this study is to uncover the impact of Islamic Work Ethics on Attitude toward Change trough organizational commitment as mediating variable. CEO of BPRS (Bank Pembiayaan Rakyat Syariah) in Indonesia was asked to express their opinion about the statements in the questionaire. Structural Equation Modelling (SEM) was used to analyze the complect relationship in the model aided by Visual Partial Least Square (VPLS) software.The results indicated that there is no direct effect from Islamic work ethics on attitude toward change. The interested finding in this research showed that organizational commitement mediated Islamic work ethic in only one dimension, affective commitment. The implication of this research is that management need to develop the application of Islamic work ethic to increase organizational commitment, so that can bring up attitude of employees ready to face change even if only on affective dimension only.

ANALISIS DEBT TO EQUITY RATIO (DER), RETURN ON ASSETS (ROA), RETURN ON EQUITY (ROE), NET PROFIT MARGIN (NPM) TERHADAP STOCK PRICE (HARGA SAHAM) PADA PERUSAHAAN SAHAM SYARIAH SEKTOR MAKANAN DAN MINUMAN PERIODE TAHUN 2013-2016

Choiruddin, Muhammad Nanang

El Dinar Vol 5, No 2 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

This study aims to determine the effect of Debt to Equity Ratio (DER), Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM) to Stock Price (Shares) in Sharia Stock Company Food and Beverage Sector Period Year 2013-2016 partially and simultaneously.From the results of this study can be concluded that simultaneously, the variable Debt to Equity Ratio (DER), Return on Assets (ROA), Return on Equity (ROE), Net Profit Margin (NPM) significant effect on stock prices. While the influence of each independent variable by partial dependent variable shows the result that price change is not influenced by Debt to Equity Ratio (DER), then the result of price change is influenced by Return on Assets (ROA), then the result of price change is not influenced by Return on Equity (ROE), then the result of price change is not influenced by Net Profit Margin (NPM).

URGENSI SPIRITUAL MARKETING SEBAGAI MEDIA PEMASARAN PARIWISATA DI MADURA (PENDEKATAN SHARIA TOURISM AND CULTURE)

Fahrudin, Muhammad Arif, Kholidiyanti, Nina Amiliya, Mois, Fathul Arifin

El Dinar Vol 5, No 1 (2017): El Dinar
Publisher : Jurusan Perbankan Syariah Universitas Islam Negeri Maulana Malik Ibrahim Malang

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Abstract

So far, business and marketing practices have only caught on to rational and emotional considerations. The spiritual aspect tends to be ignored, as evidenced by the outbreak of financial scandals in the United States with the collapse of giant corporations, such as Enron, WorldCom, or Global Crossing. So the necessary paradigm shift thinking in the concept of marketing.Spiritual marketing comes to be the solution to the problem. The concept of spiritual marketing developed by Hermawan Kertajaya, we use as a medium of tourism marketing in Madura with sharia tourism and culture approach in accordance with the characteristics of Madurese society that is religious and full of cultural nuances. In the concept of Spiritual Marketing there are four variables: theistic (rabbaniyah), ethical (akhlaqiyyah), realistic (a-waqiiyyah), and humanist (insaniyyah) that will guide in this concept. Spiritual marketing has an orientation to God, so the whole process in marketing activities follows the guidance of Islam.The method used in this paper is qualitative descriptive with primary and secondary data. This concept requires synergy between government, religious leaders, academics, MUI, and society in Madura so that its implementation can take place and produce positive results for the progress of tourism in Madura.