An examination of the growth of Islamic banking in Indonesia from 2003 to 2010

This research investigates the growth of Islamic banks in Indonesia, by measuring their comparative stakeholder efficiency with that of non-Islamic banks over the period 2003 to 2010. Financial and other data of the banks are analysed by applying Data Envelopment Analysis and regression analysis. This research finds significant differences between the stakeholder efficiency of the Islamic and non-Islamic banks.The findings indicate that Islamic banks should improve their stakeholder efficiency to enable to attain sustainable growth

Evaluating Islamic Stock Portfolio Weighting Method: Application Of Global Minimum Variance In Indonesia Islamic Stock Market

Investing in stocks can be a smart alternative to saving money in a bank or keeping cash on hand due to the negative impact of inflation. It offers various advantages, such as generating income and safeguarding wealth against inflation. Investing in stocks comes with risks, which can be mitigated through strategic portfolio construction. Multiple methods exist for portfolio weighting, one of the popular portfolio weighting methods is  Global Minimum Variance (GMV) by Markowitz (1952). This research aims to provide evidence about the performance of the GMV Method for Islamic retail investors using the Jakarta Islamic Index as the investment universe. The study analyzes the out-of-sample performance of GMV compared to Benchmark Indexes, which are IHSG, LQ45, ISSI, and JII. The finding of this study provides that constructing an Islamic stock portfolio using GMV help historically able to help the investor to gain a better return compared to ISSI, LQ45, and JII in the overall observation period and earned better returns compared to all benchmark indexes after the Covid-19 Period. Global Minimum Variance also helps the investor to gain better risk-adjusted return compared to ISSI and JII in the overall observation period and after the Covid-19 Period. Therefore, the retail investor could use GMV to construct their Islamic Portfolio to gain better returns than the market

Risk Management of Telecommunication Devices Testing Laboratory (A Case Study of Telkom Infrastructure Assurance Unit Bandung)

Abstract .Telkom Indonesia, precisely Infrastructure Assurance (IAS) unit has role in the development of infrastructure that supports industrial revolution 4.0 precisely in the telecommunication sector. To maintain service quality and customer satisfaction, companies must follow ISO 17025:2017 which contains General Requirements for Competence in Testing and Calibration Laboratories with a risk-based thinking approach. IAS unit must implement risk management to anticipate risks that can disrupt the stability of business. The concept used is the adoption of ISO 31000:2009. Risk identification process is carried out from SWOT Analysis, Brainstorming, and other research. Risk analysis using AHP is done using BPMSG Software which then searches for their respective weights, and then obtaining the results of risk evaluation by mapping the risks. The final step is make the risk mitigation. Based the risk analysis, there are 29 risk factors from 7 different types of risks. Risks that have a critical level of risk are 1 risk, risks that have a high risk level are 15 risks, and risks that have a moderate risk level of 8 risks and those with a low risk level are 5 risks. These risks that has a level of critical and high risk become priority for mitigation plan.Keywords: Risk Management, ISO 17025:2017, Analytical Hierarchy Process (AHP), Telecommunication Device Testing, BPMSG Online Software

Financing Strategy Of Refuse Derived Fuel (Rdf) Plant Based On Investment Project Analysis (Case Study Cilacap RDF Plant)

Refused Derived Fuel (RDF) is a waste processing method that can be used as co-firing in the cement industry. Currently, the Cilacap RDF Plant is one of the RDFs successfully operating in Indonesia, with a machine capacity of up to 200 tons/day. This success has encouraged many local governments to build RDF facilities to handle waste. The research aims to propose alternative funding scenarios for the development of RDF so that it can be applied in other places. Not all regions have the same opportunities as RDF Cilacap, where investment financing includes the construction of RDF facilities and machinery covered by many stakeholders. This study also calculates the potential for reducing CO2 emissions with the RDF plant and estimates the potential carbon trading value from the reduction in CO2 emissions. The analysis method in alternative scenario studies uses investment project analysis such as Discounted Cash Flow (DCF), NPV, IRR, Profitability Index, Payback Period, Discounted Payback Period, and IPCC 2006 to calculate CO2 emission reductions. The potential for reducing CO2 emissions in this study is calculated by comparing the value of CO2 produced if waste is disposed of in a landfill (open dumping) and the waste is processed into RDF. The research results show that the third scenario is suitable and feasible for regions planning to build an RDF Factory. It is recommended that the Central Government bear the responsibility for the RDF Factory building infrastructure and the investors or third parties take responsibility for the machinery. The potential for reducing CO2 emissions with the existence of the RDF Plant Cilacap for 20 years is 231,944.86 tons. If multiplied by the average price in the secondary market, IDR 69,600 (USD 4.45), the potential for obtaining funds is IDR 16,143 million, or equivalently, we calculate it in present value to IDR 5,284 million

Credit Card Cue Effect: Debt-Related Thought as Mediating Variable of Credit Card Cues and Spending

This study aims to examine the relationship between credit card cues, credit card associations (especially debt-related thought), and spending behavior in Indonesia. The data were collected through an online survey with 400 respondents and analyzed using PLS-SEM. The result showed that credit card cue has significant positive correlation to debt-related thought. Debt-related thought has no significant correlation to spending. Credit card cue has significant positive correlation to spending. Debt-related thought is not able to moderate credit card cues on spending which refers to direct only mediation

Spin-Off Efficiency Analysis of Indonesian Islamic Banks

Abstract - Since the Law No.21 of 2008 concerning Islamic Banking, there are only 4 Islamic business unit that have conducted spin-off which are BRI Sharia, BNI Sharia, Bukopin Sharia and BJB Sharia. The number of study regarding spin-off efficiency is still quite small. The study uses input-oriented VRS DEA model with intermediation approach to measure efficiency. Since the results show non-parametric data, Mann-Whitney test is used for hypothesis testing to examine the significant level of the efficiencies before and after conducting spin-off. The average efficiency of BRI Sharia, BNI Sharia, and BJB Sharia has improved after conducting spin-off. In the contrary, average efficiency of Bukopin Sharia has decreased after conducting spin-off. Looking at the trend-line, those four Islamic Banks possess better movement post spin-off than pre spin-off. There is no significant difference of BRI Sharia and BNI Sharia for both before and after conducting spin-off based on Mann-Whitney test. A significant difference occurs in Bukopin Sharia and BJB Sharia. Conventional commercial bank which has an Islamic business unit can learn about efficiency of pre and post-spin-off performances of 4 Islamic Commercial Banks that have performed spin-off to prepare adequate insight before actually conducting spin-off.Keywords: Data Envelopment Analysis, efficiency, intermediation approach, Islamic banks, spin-of

ANILISIS DAMPAK BIAYA DAN LINKUNGAN PADA SKENARIO OPTIMASI PEMANFAATAN LIMBAH OLI SEBAGAI PENCAMPUR BAHAN PELEDAK (STUDI KASUS PT BERAU COAL)

PT Berau Coal sebagai perusahaan pertambangan yang bergerak di bidang energi untuk komoditas batubara, berkontribusi dalam penyediaan energi global. Salah satu upaya PT Berau Coal dalam mengurangi intensitas konsumsi energi dan emisi adalah dengan menerapkan konsep 3R waste oil sebagai blending agent untuk kegiatan peledakan pada proses penambangan. Improvement project ini memberikan banyak manfaat bagi perusahaan terutama dari segi aspek keuangan dalam hal efisiensi biaya dan kepatuhan lingkungan. Pelaksanaan proyek ini telah dilakukan sejak tahun 2015. Selama kurun waktu 2015-2020 masih terdapat kesenjangan antara realisasi penggunaan limbah oli sebagai blending agent dengan rata-rata komposisi pelaksanaan sebesar 34% dari limbah oli yang tersedia. kapasitas pabrik pengolahan dan izin yang ada optimum sebesar 48%. Penelitian ini menghitung gap yang kemudian didefinisikan sebagai hilangnya peluang yang terjadi pada periode 2015-2020 dan memberikan skenario optimasi pemanfaatan limbah oli pada periode 2021-2025 untuk menciptakan dampak optimal pada efisiensi biaya dan dampak lingkungan. Penelitian ini menggunakan metode kuantitatif. Ruang lingkup penelitian ditinjau dari aspek finansial dengan pendekatan konsep capital budgeting dan aspek lingkungan melalui pendekatan konsep Proper dan carbon pricing hingga monetisasi manfaat pengurangan emisi karbon. Data diperoleh dari berbagai sumber antara lain data perusahaan, studi pratinjau, dan data yang tersedia di berbagai media publikasi. Hasil pengolahan data, dampak optimalisasi pemanfaatan limbah oli dengan komposisi 100% terhadap efisiensi biaya adalah $2.086.995.64 atau meningkat 232$41.122,92. Kesimpulannya, optimalisasi pemanfaatan limbah oli bumi sebagai pengganti bahan bakar minyak sebagai campuran bahan peledak memberikan dampak ganda yang optimal terhadap efisiensi biaya dan mengurangi intensitas konsumsi energi dan emisi

Kedudukan Hukum Wakaf uang menurut kompilasi Hukum Islam dan Undang Undang Wakaf no 41 tahun 2004 serta relevansinya dengan fiqih Madzhab Abu Hanifah

Taufik Faturohman, Kedudukan Hukum Wakaf Uang Menurut Kompilasi Hukum Islan dan Undang-Undang No.41 Tahun 2004 Serta Relevansinya Dengan Fiqih Madzhab Abu Hanifah. Pada masa terdahulu praktek wakaf hanya dikenal pada aspek benda tidak bergerak saja, akan tetapi dewasa ini di era globalisasi wakaf juga bisa melelalui cara benda bergerak diantaranya yaitu wakaf uang atau lebih dikenal sebagai wakaf tunai bagi sebagian orang wakaf tunai merupakan sesuatu yang asing. Tujuan penelitian ini adalah 1) mengetaui Faktor Faktor Yang Melatarbelakangi KHI dan UU No 41 Tahun 2004 Tentang wakaf 2) Mengetahui Bahan Hukum Dan Dasar Pertimbangan Ketentuan Wakaf Uang Dalam KHI dan UU No 41 Tahun 2004 Tentang Wakaf. 3) Mengtahui Implikasi Dan Konsekuaensi Hukum Wakaf Uang 4) Mengetahui relevansinya dengan Fiqih Abu Hanifah. Kerangka berfikir dalam penelitian ini menggunakan teori tinjauan siyasyah syar'iyah yang mana penjelasannya termuat kemaslahatan umum bernegara hal ini sesuai dengan pelaksanaan Wakaf yang harus dikenal dan dikelola dengan sebaik baiknya karena Wakaf bersangkutan dengan banyak masyarakat. Metode penelitian yang digunakan adalah deskriftip analisis sedangkan pendekatan yang digunakan ialah normatif yuridis data primer berupa bahan hukum, yaitu KHI,Undang Undang No 41 Tahun 2004 Tentang Wakaf, serta sekunder berupa literatur-literatur terkait fiqih Madzhab Abu Hanifah. Hasil penelitian ini adalah 1) Latar belakang lahirnya KHI tentang wakaf adalah sosial kultur masyarakat Indonesia yang mana mayoritas beragama Islam hingga perlunya aturan termasuk didalamnya tentang wakaf. Lahirnya UUD No 41 Tahun 2004 Tentang Wakaf ialah melihat perkembangan wakaf yang mana berpotensi bisa mensejahterakan umat hingga wakaf bisa dikelola secara administrasi, dan juga pengembangan objek benda wakaf. 2) Bahan Hukum yang digunakan dalam Kompilasi Hukum Islam (KHI) dalam menentukan ketentuannya pertama tidak terlepas dari ketentuan Al-Qura'n dan As-Sunnah, kedua dari 19 Kitab Kitab Fiqih, adapun Bahan Hukum dalam UUD No 41 Tahun 2004 Tentang wakaf memiliki kesamaan dengan KHI juga adanya Fatwa MUI tentang wakaf, dan juga ormas Islam di Indonesia. 3) Implikasi dari adanya KHI dan UUD No 41 Tahun 2004. supaya wakaf jadi lebih tertib administasi, objek benda wakaf menjadi lebih berkembang dan bertambah, dan potensi wakaf untuk mensejahterakan umat bisa terelealisai. Adapun konsekuensinya bagi yang tidak sesuai dengan ketentuan yang berlaku maka sudah melanggar dan wakif harus tertib administrasi. 4) Relevansi ketentuan tentang wakaf dalam KHI dan UUD No 41 Tahun 2004 jika merujuk pada Fiqih Madzhab itu relevan dengan fiqih Madzhab Abu Hanifah

The Demographical Analysis of Indonesian Young Adults' Financial Anxiety

This study aims to understand what causes financial anxiety among Indonesian Young Adults in terms of demographical. A survey from 400 respondents was collected through an online questionnaire from July to August 2023 and analyzed using descriptive statistics, and continued by using Kruksal Wallis and Mann Whitney U to test whether there is a statistically significant difference between two or more independent variables. The result of this study found that there are no significant differences in gender and income in financial anxiety, but there are significant differences in educational level and occupation in financial anxiety. Individuals with only a high school degree as their educational background, and unemployed individuals have higher levels of financial anxiety than other groups

A Comparative Efficiency Analysis of Islamic and Non Islamic Bank in Indonesia Using Financial Ratios

Abstract - Islamic Bank grow all over the world, with first existence of Islamic bank in Middle East in 1970s and continue to grow. According to Islamic Financial Services Board 2015, the industry’s assets are estimated to be worth USD1.87 trillion as at 2014 and total Islamic Banking asset worldwide is estimated to be worth USD 1.47 trillion as at 2014. The first sign of Indonesia Islamic Banking begin appeared in 1992 which is Bank Muamalat Indonesia and continue to develop. As the Banking Industry in Indonesia keep growing, the Bank have to maintain their efficiency performance. This research aims to find out the difference between Non Islamic and Islamic performance in term of efficiency using financial ratios. The data used in this research are balance sheet and income statement Non Islamic, Islamic Business Unit, and Islamic Bank in Indonesia that are available during period 2004 – 2014. The total observation in this research is 1537 bank-year.  Method used in this research are computation with financial ratios, descriptive statistic, and Mann-Whitney Test. The results from the descriptive analysis mean value of each ratios, Islamic Bank efficiency performance shows that in early years of this study were not as good as Non Islamic Bank. The result of this study can be used by Islamic Bank management to give empirical evidence to the public that efficiency of Islamic Bank can come up and compete with Non Islamic Bank. Hopefully, it can increase the market share in Indonesia. Keywords: Islamic banking, banking Industry, financial ratios, efficiency