Productive Waqf for VIP room (Very Important Person)

The present study aimed at finding out various practices of Bank Thithil at Bethek Urban Village, Malang, along with the people’s perception and the impact of such practices towards the people’s welfare. Employing qualitative approach, this study focuses on the people’s perception, particularly those belonging to debtors trapped in Bank Thithil, such bank’s creditors, and some local cultural leaders, who lived at Bethek Urban Village, Malang. Data collection was carried out by interviews, observation and documentation. In analyzing the data, Miles Huberman’s analysis was employed which consisted of the following action: collection, reduction, display, and conclusion drawing supported by a phenomenological method which tried to capture and understand the reality. The result showed that Bank Thithil at Bethek Urban Village belonged to an informal financial organization as it was not a legal entity. As a consequence, the creditors may set rules of loan and sanctions without any reference to the legal law of financial organizations in Indonesia. The people’s perception towards Bank Thithil was various; some people felt fine with its practices because they need it and some another people strongly disagreed for some reasons, one is the prohibition on Islamic law.

Fenomena unik terkait kontrak informal yang terjadi di Sentra industri brem yaitu produsen besar yang telah menguasai pasar dapat menentukan arah pasar sesuai keinginan. Akibatnya banyak produsen kecil gulung tikar karena adanya persaingan tidak sehat dengan harga yang berlaku. Disisi lain, produsen besar dapat melebarkan sayap dengan melakukan kontrak informal bersama distributor dan agen. Dalam kontrak, distributor memiliki peran yang besar dalam memasarkan produk brem sehingga dapat menerima hasil produksi brem hingga beberapa produsen dengan harga ditetapkan. Oleh karenanya, penelitian ini bertujuan mengetahui proses terbentuknya struktur pasar dalam hubungan kontrak informal antar pelaku usaha. Penelitian ini menggunakan metode kualitatif dengan pendekatan fenomenologi. Hasil penelitian menunjukkan bahwa berdasarkan hasil telusur terdapat praktik oligopoli dan oligopsoni dalam proses pemasaran brem tersebut sehingga mengakibatkan inefisiensi bagi pelaku usaha yang terlibat dalam kontrak. Saran yang dapat penulis berikan untuk menciptakan kondisi pasar yang baik yaitu pemerintah perlu membentuk kartel dan istana brem di lingkungan sentra industri.

Kajian ini dimaksudkan untuk menentukan pengaruh variabel kesesuaian syariah dan manfaat ekonomis terhadap investor dalam membeli sukuk negara dan untuk menentukan mana diantara kedua variabel tersebut yang paling berpengaruh terhadap keputusan investor dalam membeli sukuk negara.Kajian dilakukan dengan pendekatan kuantitatif menggunakan metode deskriptif sedangkan estimasi datanya dilakukan dengan regresi time-series model OLS. Hasilnya menunjukkan bahwa kesesuaian syariah dan manfaat ekonomi mempengaruhi keputusan investor membeli sukuk negara secara signifikan meskipun variabel paling berpengaruh adalah suku bunga. Temuan ini juga menunjukkan bahwa tingginya pembelian sukuk negara lebih banyak dipengaruhi oleh variabel spekulatif. Dengan demikian sukuk negara perlu diperbaiki dan disempurnakan agar sesuai dengan tujuan dan fungsinya untuk mendorong pertumbuhan dan perkembangan pasar keuangan syariah.

In Islam, money is viewed as a means to measure value and a tool for transactions. This study explains other dimensions of money while also examining its use in the interconnected social and religious phases of human life. Since money is perceived differently across cultures, we conducted a literature review to identify dimensions other than the one considered by Western culture. For this purpose, we used scientific articles, book chapters, and books as the primary sources, which allowed us to obtain a complete and coherent description of the phenomenon under study. According to the results, money not only has a transactional dimension that seeks to maximize profit (as it is mainly conceived by Western culture) but also a social and religious dimension. Giving money can be more satisfying than giving in-kind. In Islam, the money collected is freely spent based on individual needs. In addition, money (dinar and dirham) serves to measure pious deeds when employed as a unit of account in zakat and qurban, as well as in inheritances. In Islam, a proper management of monetary assets can help to link the social and religious dimensions in a coherent manner.