The Legal Reform Policy on the Shariah Supervisory Board Role’s  in Indonesian  Shariah Banks

Triasari, Devi; Zwart, Francesco de

doi:10.20961/bestuur.v9i2.55173

Cited by 5 publications

(4 citation statements)

References 21 publications

(21 reference statements)

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“…This is qualitative research with library approach method in order to analyze the issue regarding Sharia Supervisory Board in Islamic Financial Industries. In addition, to support the result this research uses numerous previous researches to find and create a better analysis such as Baklouti (2022), Can (2021), Dąbrowski (2020), Prayitno & Setyowati (2020), Triasari & de Zwart (2021 who focused on the regulation of sharia supervisory board. Furthermore, Djumardin & Isnaini (2018), Gagarin (2017)…”

Section: Methodsmentioning

confidence: 96%

Criticism of Sharia Supervisory Board Position at Islamic Financial Institution: Evidence from Indonesia

Hardiyono,

Lestari,

Furwanti

et al. 2023

IQTISHODUNA

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This research aims to analyze and critic the role of Sharia Supervisory Board (SSB) at Islamic Financial Institution. This considered iportant because SSB is a core organization of Islamic Financial Institutions (IFIs) to legitimate and maintan all IFIs’ operational activities that have to appropriate through sharia compliance. Nevertheless, the position of SSB in Indonesia is lack of power and independecy while doing its duties, which absolutely this issue does not accordance through fatwa of National Sharia Council regarding to SSB’s position and funcition. This research criticize the position and function of SSB on sharia audit for IFIs. This is a qualitative research with library method approach. Furthermore, this research delineates, that there is such a decentralization position and function of SSB due to lack of power and decentral position of SSB when carry out its duties regarding to supervising IFIs whether are appropriate through sharia compliance or not. Thus, it requires such a training in order to boost independency of SSB when supervise IFIs.

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Section: Methodsmentioning

confidence: 96%

Criticism of Sharia Supervisory Board Position at Islamic Financial Institution: Evidence from Indonesia

Hardiyono,

Lestari,

Furwanti

et al. 2023

IQTISHODUNA

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“…The application of musyarakah mutanaqisah financing in Indonesia is generally combined with the musyarakah mutanaqisah object rental agreement, where the tenant is the customer himself. 37 This musyarakah mutanaqisah along with a rental makes the musyarakah mutanaqisah agreement flexible because during the musyarakah mutanaqisah agreement, the bank can change the amount of the rent if the situation and conditions demand such an action. Flexibility in changing the rent (ujrah) can save banks from the risk of large losses when facing a monetary crisis or experiencing other volatile economic turmoil.…”

Section: Jurnal Media Hukum 31(1): 1-18mentioning

confidence: 99%

Musyarakah Mutanaqisah: Strengthening Islamic Financing in Indonesia and Addressing Murabahah Vulnerabilities

Asyiqin,

Alfurqon

2024

JMH

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The article analyses to examine the practice of murabahah and musyarakah mutanaqisah financing in sharia banking in Indonesia. Islamic finance plays an important role in the Indonesian economy, contributing to financial inclusion and encouraging ethical practices and sharia compliance. Among the various Islamic financing models, musyarakah mutanaqisah has become famous as an alternative to conventional financing methods. The aticle method used is qualitative research with secondary data and doctrinal legal study methods. This article uses sustainable product innovation, modernization, and compliance with sharia principles. The results of the article found that the implementation of murabahah has several weaknesses, including: it is considered not in accordance with sharia, the nature of the contract is fixed, the down payment for sharia housing loans by murabahah is high, it is based on sharia, and cannot be used for refinancing, takeovers, and securing assets. The advantages of musyarakah mutanaqisah can be a solution to murabahah's weaknesses, because musyarakah mutanaqisah is safe according to sharia, suitable for long-term financing, down payments for sharia mortgages by musyarakah mutanaqisah are low, and according to sharia, musyarakah mutanaqisah can also be used for refinancing, takeovers and securing assets.

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“…The development of this religious value-based economy plays a role in the construction of society, which is not centralistic in nature, so that resources and economic participation do not accumulate in certain groups (Triasari & Zwart, 2021). Furthermore, one of the sources of law in Sharia, including muamalah, is the local people's good customs and wisdom ('urf shahih), in addition to the Qur'an, sunnah, ijma', qiyas, istihsan, mashlahah mursalah, and so on.…”

Section: The Concepts Of Sharia Economymentioning

confidence: 99%

Reduction of Digitalization Policy in Indonesian MSMEs and Implications for Sharia Economic Development

Kusumaningtyas

Subekti²,

Jaelani³

et al. 2022

JURIS

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Micro, Small, and Medium Enterprises are one of Indonesia's economic buffer pillars. However, its position as a financial buffer still faces various problems. The purpose of this research is to examine the reduction of digitalization policies for Indonesian MSMEs and their implications for the development of the Islamic economy. This research is normative legal research with a statutory approach. The results showed that the provisions in the Copyright Law that require the digitization of MSMEs make its management more efficient and straightforward. During the COVID-19 pandemic, there has been a twofold increase in the number of businesses transitioning to the digital ecosystem. MSMEs are present in the development of the Islamic economy, with the possibility of managing MSMEs in the technology-based halal industry. Deregulation is carried out by simplifying regulations in order to improve the flow of bureaucracy. However, behind the ease, there are obstacles experienced by MSMEs in their digitalization efforts, including blocks in terms of community culture, regulation, and structure

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The Legal Reform Policy on the Shariah Supervisory Board Role’s in Indonesian Shariah Banks

Cited by 5 publications

References 21 publications

Criticism of Sharia Supervisory Board Position at Islamic Financial Institution: Evidence from Indonesia

Criticism of Sharia Supervisory Board Position at Islamic Financial Institution: Evidence from Indonesia

Musyarakah Mutanaqisah: Strengthening Islamic Financing in Indonesia and Addressing Murabahah Vulnerabilities

Reduction of Digitalization Policy in Indonesian MSMEs and Implications for Sharia Economic Development

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