Halal assurance climate creation in processing products for micro waqf bank customers

Fauzi, Muhamad; Mahmudin, Mahmudin; Haq, Farooq

doi:10.20414/jed.v5i1s.6915

Cited by 2 publications

(2 citation statements)

References 17 publications

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“…Increasing business income and creating social welfare (Fauzi, 2022). Increasing marketing of customer products (Fauzi & Widana, 2022a). They increase social innovation in customer businesses (Fauzi & Widana, 2022b).…”

Section: Introductionmentioning

confidence: 99%

Micro Waqf Bank for Empowerment of Indonesian Women's Microeconomic and Efforts Minimizing the Loansher Trap

Fauzi,

Priatno,

Syarjaya

et al. 2023

I-iECONS

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Fulfilling household needs for a woman is required to be able to obtain and manage halal-sourced finances from a small and micro-entrepreneur. The trap of conventional and online loan sharks poses a significant risk to the borrower's assets due to the lack of business capital they have in the short term. Establishing a micro waqf bank initiated by the financial services authority in Indonesia aims to provide business financing, assistance and financing sourced from zakat, infaq, sadaqah and waqf relying on Islamic social microfinance institutions. This study aims to analyse micro waqf bank woman customers with small and micro-entrepreneurs to avoid entrapment by a loan shark. The study at the El-Manahij Micro Waqf Bank, Lebak Regency, Banten Province, Indonesia, used qualitative descriptive types through data collection interviews with managers and the head in weekly halaqah. In contrast, data analysis used triangulation: data reduction, display, verification and conclusion. Research shows that most micro waqf bank customers are women with micro-scale enterprises to improve Islamic economy studies. Customers choose micro waqf banks to replace loan sharks providing their business capital and having regular activities in the form of weekly group meetings aimed at knowing business progress, religious studies and gradual loan repayments. Micro waqf bank managers receive pawned valuables with sharia contracts to increase business capital. The customers are responsible for repaying business loans in stages, running social gatherings for customers to obtain excess money and supervising fellow customers. The research implies that getting away from the snares of loan sharks can minimise the burden of living costs where they live. The significant role of micro waqf banks in providing Sharia pawn support is to increase business capital to limit dealing with loan sharks.

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Section: Introductionmentioning

confidence: 99%

Micro Waqf Bank for Empowerment of Indonesian Women's Microeconomic and Efforts Minimizing the Loansher Trap

Fauzi,

Priatno,

Syarjaya

et al. 2023

I-iECONS

View full text Add to dashboard Cite

show abstract

“…On the other hand, the number of restaurants serving halal food continues to rise annually, a driver of economic expansion in both the region and the globe (Nafis, 2019). Interests and concerns about halal guarantees for products in Indonesia, not only in the company interest approach but also cultural values and holding a commitment to the provisions as in the Qur'an so that there is an increase in halal products and their derivatives (Fauzi et al, 2023).…”

Section: Introductionmentioning

confidence: 99%

Honey Halal Product for Competition Strategy in Indonesia: The New Institutional Economics

Priatno,

Dahlan,

Fauzi

2023

IJARBSS

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Honey products are one type of product that provides many economic and health benefits, so they are in great demand by all world citizens. There is a global gap between production and consumption, so each country competes to increase its production for domestic needs and to meet world demand for honey products. Muslims in Indonesia believe that honey is a Halal product, but the level of consumption is still low. Individuals or families manage many honey producers, so the volume produced is minimal for self-consumption and sale directly to consumers. To meet the global demand for honey, the interests of medium-large companies are vital but still empower honey producers or individual honey farmers. Following a new institutional economics approach, this study aims to maintain its commitment to quality, halal obligations, and corporate analysis strategy. This study uses descriptive qualitative research using literature studies with the locus of honey production and its potential in Indonesia on the new institutional economics approach, as well as secondary data. The results of the study found that the company is very committed to quality assurance and product halalness by conducting halal tests through food, drug, and cosmetic product review agencies, the Indonesian Ulema Council and implementing corporate strategy at the fourth level as new institutional economics, namely an economic order with resource efficiency, formation of marginal prices and structures, and business continuity with sustainable halal commitments.

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Halal assurance climate creation in processing products for micro waqf bank customers

Cited by 2 publications

References 17 publications

Micro Waqf Bank for Empowerment of Indonesian Women's Microeconomic and Efforts Minimizing the Loansher Trap

Micro Waqf Bank for Empowerment of Indonesian Women's Microeconomic and Efforts Minimizing the Loansher Trap

Honey Halal Product for Competition Strategy in Indonesia: The New Institutional Economics

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