Sharia Compliance in Micro Waqf Bank Business Activities: A Study of Protection of Consumer’s Spiritual Rights

Fitri, Winda

doi:10.14710/lr.v17i1.37556

Cited by 9 publications

(8 citation statements)

References 18 publications

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“…With help and training from micro waqf banks, which adhere to the empowerment principle, we also do this in the field, where the average level of education for business managers (MSMEs) is still low. Finally, the community is aware of and understands the services it receives (Fitri, 2021).…”

Section: Discussionmentioning

confidence: 99%

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Public Preference for Micro Waqf Banks: An Effort to Increase Community Business

Ramly,

Hamsa

2023

JEBIS

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The Islamic financial literacy index in Aceh is still relatively low at 18.64% compared to the conventional financial literacy index. The purpose of this study is to analyze the level of preference of Acehnese people towards micro Waqf Banks. The presence of micro Waqf banks in Aceh seeks to improve the welfare of urban and rural communities. Quantitative method with multiple regression analysis techniques is used to study those variables. The source of data obtained is the primary source through distributing questionnaires to 100 respondents throughout Aceh. The variables used in this research are literacy index, preference, religiosity, and business motivation. The results indicate that the preference, religiosity, and business motivation have a positive and significant effect on Islamic financial literacy with the prob value. 0.00 < = 0.05. the coefficient of determination shows a value of 0.9900, or 99.00 % which means that all dependent variables have a significant effect on islamic financial literacy while the rest are influenced by other variables. Regarding the fact that Islamic financial literacy for micro waqf banks is 52% as well as the role of microwaqf banks support in increasing micro-scale businesses in the community, public preference for micro waqf banks is still low compared to Islamic banks. Therefore the implications of this research have a positive impact on the community and academics in suggesting to continue supporting the emerging of sharia-compliant businesses by utilizing micro waqf banks.

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Section: Discussionmentioning

confidence: 99%

“…In the end issued has related with some research before like research (Fatin et al, (2020) ;Fitri, (2021)). Which that implication same variable their using and relevant issued about strategy and potential micro waqf bank in Indonesia.…”

Section: Discussionmentioning

confidence: 99%

Public Preference for Micro Waqf Banks: An Effort to Increase Community Business

Ramly,

Hamsa

2023

JEBIS

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“…In carrying out its functions according to Fitri (2021) Where Micro Waqf Banks support people who have difficulty accessing bank financing (unbankable) due to non-fulfilment of the conditions known as '5C's of Credit' among others character, capacity, capital, conditions and guarantees. However, micro waqf banks strive to improve micro-scale financing services, increase economic empowerment and community productivity increase the income of the poor and improve their welfare.…”

Section: Micro Waqf Bankmentioning

confidence: 99%

The Role of Productive Women in Alleviating Poverty Through Strengthening Islamic Social Finance: A Study of Micro Waqf Banks in Indonesia

Muhammedi,

Pangestu,

Yusof

et al. 2024

IEFR

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The nature of women in development has a big role not only in the economic foundation of households, in the use of Islamic social financial institutions. Poverty motivates women to develop their potential through opportunity, excellence, and equality. Attention to Islamic social finance namely zakat, infaq, sadaqa and waqf in Indonesia is increasing as awareness improves. Limited access of productive women to social financial institutions makes it difficult to obtain business capital. The study investigates the contribution of women to poverty alleviation through Islamic social finance. This study uses qualitative methods with a field study approach. The research location is at the Micro Waqf Bank Lan Taburo Lebak Banten, Indonesia. Data collection using interviews, observations, and literature studies. Data analysis techniques use triangulation with collection, reduction, presentation, and conclusions. The results showed that the role of productive women micro waqf bank customers utilizes Islamic social finance, namely managing business financing, increasing household income, creating household economic prosperity, strengthening community empowerment, and increasing waqf literacy. The research implies that the greater the role of productive women utilizing Islamic social finance, the more positively it will contribute to poverty alleviation in Indonesia. This study was limited to women producing micro waqf banks who received benefits at one institution. Further research needs to be carried out in quantitative studies to find the dominant factor of alleviating harm using Islamic social finance.

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“…Implementing sharia provisions is obliged to protect consumer rights in the form of spiritual rights that every Muslim has to practice his religion sincerely. The sharia compliance policy results from the transformation of the DSN-MUI Fatwa and halal assurance system into the form of laws and regulations so that they are more binding and applicable to the business activities of Micro Waqf Banks (Fitri, 2021).…”

Section: Halal Assurance Climate Creation In Processing Products…mentioning

confidence: 99%

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

Fauzi

Mahmudin²,

Haq

2023

JED

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Purpose — Halal assurance guides Muslims in production and consumption to create a strong belief in utilizing it. This study analyzes the halal assurance climate creation and sharia social financing from micro waqf banks.Method — The research used a qualitative method with a case study approach at the Lan Taburo micro waqf bank, Lebak regency, Banten province, Indonesia. Data sources from managers and customers of food processing businesses using interview techniques and data analysis using triangulation.Result — The research shows that micro waqf banks need instruments like desire to engage in the halal assurance process, becoming the key requirement for customers, incentives for registration, education, and training, direction and monitoring, and evaluation of halal assurance evaluations.Micro waqf banks are sharia social and financial institutions providing financing and micro-small entrepreneurs assistance for productive communities. It is necessary to increase the awareness of managers and customers regarding the importance of halal assurance as an integration of sharia social financing.Contribution — This study recommends the government or financial services authority to implement halal assurance as a requirement for micro waqf bank customers to encourage small micro-entrepreneurs by creating a climate of halal assurance for the processing products.

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Sharia Compliance in Micro Waqf Bank Business Activities: A Study of Protection of Consumer’s Spiritual Rights

Cited by 9 publications

References 18 publications

Public Preference for Micro Waqf Banks: An Effort to Increase Community Business

Public Preference for Micro Waqf Banks: An Effort to Increase Community Business

The Role of Productive Women in Alleviating Poverty Through Strengthening Islamic Social Finance: A Study of Micro Waqf Banks in Indonesia

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

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