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COMPARING THE CONVENTIONAL AND SHARIA MONEY MARKET: AN INDONESIAN CONTEXT Ana Nur Anisah; Joko Hadi Purnomo
International Conference on Social and Islamic Studies Proceedings of the International Conference on Social and Islamic Studies (SIS) 2021
Publisher : International Conference on Social and Islamic Studies

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This research aimed to determine the analysis of conventional financial market instrument and Islamic money markets in Indonesia. Money market is a mechanism for trading funds in the short term, i.e. funds with a maturity of less than one year. Whereas Islam views money only as a medium of exchange, not commodities or merchandise. The research method uses the library research method. Where researchers do not directly conduct research in a company, but use the library as a source of data needed. The results obtained can be concluded as follows: 1. The difference between conventional financial markets and Islamic financial markets lies in the mechanism of control. On conventional financial markets, instruments issued are instruments sold at a discount and based on interest calculations. While the Islamic money market is more complex and approaches the capital market mechanism, which contains investment, cooperation and others namely Mudharabah, Musyarakah, qard, and Wadi’ah but only in the short term; 2. Instruments on conventional money markets include bank Indonesia certificates, money market securities, certificates of deposit, Commercial Paper, Call Money, Repurchase Agreement, Banker's Acceptance; 3. Instruments on the Islamic money market include inter-bank investment certificates, Mudharabah money market securities and bank Indonesia wadi’ah certificates.
Pendampingan Program Pengembangan Klaster Bawang Merah Di Kabupaten Bojonegoro Joko Hadi Purnomo; Niswatin Nurul Hidayati
LOYALITAS: Jurnal Pengabdian Kepada Masyarakat Vol. 4 No. 2 (2021): November 2021
Publisher : IAI Darussalam

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30739/loyalitas.v4i2.1039

Abstract

The purpose of assisting the development of onion clusters in Bojonegoro Regency is to improve the quality of sustainable production and expand the marketing reach of processed shallot products. The method used is Participatory Action Research (PAR). The results of the assistance carried out are that the quality of the products produced by the Mekar Sari farmer group is able to match the fried onion products of other competitors in the local and interlocal markets, the market opportunities for fried onions and chili sauce are still very large both in the local market and in other areas. there is a market mapping of fried onions and chili sauce to distribute the product, as well as, there needs to be a commitment from the fried onion production team where buyers have started to arrive.
The Role of BMT NU Ngasem Jampet Branch in Increasing MSME Income in Jampet Market Through Rahn Financing M. Eko Wahyudi; Joko Hadi Purnomo; Moch. Zaenal Azis Muctharom
AL- IKTISAB Journal of Islamic Economic Law Vol 5, No 2 (2021): Al-Iktisab: Journal of Islamic Economic Law
Publisher : University of Darusssalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/al-iktisab.v5i2.6900

Abstract

The purpose of this research was to describe the role of BMT NU Ngasem Jampet Branch in increasing the income of MSMEs in Jampet Market through Rahn Financing. The method used was qualitative. The results showed that the role of financing applied by BMT NU Ngasem Jampet Branch is in accordance with the objectives of Islamic financial institutions in general, namely improving the quality of the community’s economic business for the welfare of the community and its members. Especially in financing products, because the existence of this financing makes it a solution for MSMEs or market traders in the capital used to develop and improve their business than before. So that financing is one way for MSMEs or market traders to increase their business income. The success of BMT NU Ngasem Jampet Branch in carrying out work programs related to financing realized for MSMEs or market traders. This is evidenced by the implementation of financing carried out by BMT NU Ngasem Jampet Branch with several MSMEs or traders in Jampet Market who carry out financing totaling 22 members, but there are some members who have difficulty in terms of installments because their sales are still quiet unlike other traders. So that it makes the installments delay and makes the installment time longer. Meanwhile, members who experience business development and are smooth in financing installments and make the repayment time according to maturity. From the application of financing to 11 MSMEs in the Jampet Market, there was an increase in income for rahn financing with an average of 3.4% of income per month of May 2021.
Comparative Analysis of Indonesia and Malaysia Budget Policies in Handling the COVID-19 Pandemic from Maqâshid al-Syarî`ah Perspective Joko Hadi Purnomo; Sulistya Rusgianto; Niswatin Nurul Hidayati
Madania: Jurnal Kajian Keislaman Vol 25, No 2 (2021): DECEMBER
Publisher : IAIN Bengkulu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29300/madania.v25i2.5110

Abstract

This research aimed to analyze state spending for handling Covid-19 from the perspective of maqâshid al-syarî`ah (sharia objective). The analysis was carried out by mapping the Covid-19 budget in five dimensions of maqâshid al-syarî`ah, including hifdz al-dîn (protection of religion), hifdz al-nafs (protection of the soul), hifdz al-‘aql (protection of thinking), hifdz al-nasl (protection of offspring/family), and hifdz al-mâl ((protection of property). The mapping results were compared with the budget for each dimension of maqâshid al-syarî`ah and the total budget for Covid-19; and finally compared to the total of state budget; as well as total debt. This research used a descriptive quantitative approach. The object of research was ASEAN member countries with the criteria of having more than 50% Muslim population, and their state budget data was available on the official website of the Ministry of Finance which can be accessed via the internet. The results of the research, in Indonesia and Malaysia, allocated funds for handling Covid-19 for the fulfillment of hifdz al-nafs, hifdz al-mâl, but not for the fulfillment of hifdz al-nafs funds. In Indonesia, there was no budget allocation for hifdz al-dîn, hifdz al-‘aql, and hifdz al-nafs. Malaysia has allocated Covid-19 handling funds for hifdz al-dîn and hifdz al ‘aql. Penelitian ini bertujuan untuk menganalisis belanja negara untuk penanganan Covid-19 dari perspektif maqâshid al-syarî`ah. Analisis dilakukan dengan memetakan anggaran Covid-19 dalam lima dimensi maqâshid al-syarî`ah, antara lain hifdz al-dîn, hifdz al-nafs, hifdz al-‘aql, hifdz al-nasl, dan hifdz al-mâl. Hasil pemetaan tersebut dibandingkan dengan anggaran untuk masing-masing dimensi maqâshid al-syarî`ah dan total anggaran untuk Covid-19; dan terakhir dibandingkan dengan total APBN; serta total hutang. Penelitian ini menggunakan pendekatan kuantitatif deskriptif. Objek penelitian adalah negara-negara anggota ASEAN dengan kriteria berpenduduk muslim lebih dari 50%, dan data APBN-nya tersedia di situs resmi Kementerian Keuangan yang dapat diakses melalui internet. Hasil penelitian menunjukkan bahwa di Indonesia dan Malaysia, alokasi dana penanganan Covid-19 untuk pemenuhan hifzh al-nafs, hifzh al-mâl, namun tidak untuk pemenuhan dana hifdz al-nafs. Di Indonesia, tidak ada alokasi anggaran untuk hifdz al-dîn, hifdz al-‘aql, dan hifdz al-nafs. Malaysia telah mengalokasikan dana penanganan Covid-19 untuk hifdz al-dîn dan hifdz al-‘aql.
Syariah Governance Pada Perbankan Syariah Joko Hadi Purnomo
JES (Jurnal Ekonomi Syariah) Vol 1, No 1 (2016): September
Publisher : Universitas Islam Lamongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (103.457 KB) | DOI: 10.30736/jesa.v1i1.2

Abstract

Shariah governance is concatenation of two concepts, these are the concept of good corporate governance and shariah compliance. The governance of banks applies the principle of transparency, accountability, responsibility, professionalism and fairness whereas shariah compliance is the duty of Islamic bank to meet compliance with Islamic principles. The operation of Islamic banks must strictly adhere to the provisions of shariah. The application of shariah governance is the implementation of good corporate governance principles and shariah compliance. The implementation of shariah governance in Islamic banks relies on surveillance covering all research activities, observation and measurement on the course of operations, both internally and externally. Based on the above background, author makes formulations of the problem; (a) how is the implementation of Shariah governance in Islamic bank?; (b) How is the supervision of the application of Shariah governance in Islamic bank?.  The purpose of this paper is to know the implementation of Shariah governance in Islamic banks and to know the supervision of the implementation of Shari'a governance in Islamic bank. The implementation of GCG in Islamic banking creates transparency to prevent fraud, conduct accountability with the system that controls the relationship between the organs of company, do responsibility, keep independence, and keep in touch with fairness. The application of sharia compliance at Islamic banks without riba in bank transactions, no vagueness (gharar) in bank transactions, there is no gambling (maisir) in bank transactions. Bank conducts business on the basis of allowed (halal) profits. Banks manage zakat, sadaqah, and infaq according to the shariah provisions. The implementation of sharia governance in Islamic banks relies on surveillance covering all research activities, observation and measurement on the course of the operation by using elements of the AGM, Board of Commissioner, Board of Auditor, Shariah Supervisory Board (DPS), Director of Compliance, Internal Audit, Internal Shari'a Reviewers of SKAI and external monitoring system consists of elements of the Financial Services Authority (OJK), Public Accountant, National Sharia Council (DSN) and Stakeholders.Keywords: Corporate, syariah, Governance
Sistem Waralaba Dalam Kaidah Maslahah Mursalah Joko Hadi Purnomo
JES (Jurnal Ekonomi Syariah) Vol 2, No 1 (2017): Maret
Publisher : Universitas Islam Lamongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (177.143 KB) | DOI: 10.30736/jesa.v2i1.16

Abstract

Franchising is a business of cooperation among the parties. One party is called a franchisor and another party is called the franchisee to increase market penetration, growing new businesses and open working opportunity. Maslahah mursalah is used to address and answer new issues and developments that arise due to the progress of science and modern technology, both in setting the law against new problems, no provision of law and a new law to replace the old laws that do not conform any more with the circumstances, situations, conditions and welfare of the people of today. Maslahah mursalah is one method of laws istinbath that is made hujjah. For examples of problems set by maslahah mursalah ruling, it is shown that laws enacted by the method is more nurturing and more able to realize the sharia objectives, and it is the effectiveness of maslahah mursalah in setting the Islamic rules. Franchise system has a lot of benefit. Although not perfect, but overall it gives any favor by minimizing business risks, taking maslahah and keep madharat. The franchise system, of course, has been in accordance with the rules of maslahah mursalah. Keywords: Franchising, Business, Maslahah Mursalah
Uang Dan Moneter Dalam Sistem Keuangan Islam Joko Hadi Purnomo
Journal of Sharia Economics Vol 1 No 2 (2019): Journal of Sharia Economics
Publisher : Program Studi Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Al Hikmah Tuban

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35896/jse.v1i2.71

Abstract

Money is a tool that can be used in conducting exchanges or transactions both goods and services in a certain area. Money is the standard of use found in goods and labor. Therefore, money is defined as a tool to measure the value of each item and service. There are two main policies in the economy called fiscal and monetary policies. Monetary policy is a policy that is carried out to control the supply and demand of money (money circulating in the community), the available money supply, the stability of the currency's value and the direction in which money will be allocated using appropriate monetary tools or instruments in order to achieve the objectives from monetary policy itself. The fiscal policy is a policy that is used to move the steps to obtain state income including tax revenue and control the direction of fiscal policy and control the amount of government spending and expenditure using fiscal tools, so that the objectives of the policy can be achieved fiscal itself in the economy. In this study, the author only focuses on discussing monetary policy and its implications for economic development in an Islamic perspective. Keywords: money, monetary, Islamic finance system
Kritik Implentasi Corporate Social Responsibility Pada Perusahaan Minyak Dan Gas Perspektif Maqasid Al-Syari’ah Joko Hadi Purnomo
Journal of Sharia Economics Vol 2 No 2 (2020): Journal of Sharia Economics
Publisher : Program Studi Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Al Hikmah Tuban

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35896/jse.v2i2.154

Abstract

Corporate Social Responsibility is an interesting topic, since various theories are used as a basis for implementing it. Oil and Gas Company is one of the entities that practice Corporate Social Responsibility. The Corporate Social Responsibility implementation in oil and gas companies is oriented to their own interests in achieving the optimal profits. Oil and gas as one of the natural resources included in community ownership cannot be owned absolutely by anyone, including individuals, groups and even countries. The method used was a critical review of the Corporate Social Responsibility implementation in oil and gas companies. The results showed that the Corporate Social Responsibility implementation of oil and gas companies referred to the theory of shareholders oriented to the interests of shareholders. Corporate Social Responsibility implementation was only used to build a company’s reputation, so that the company would get increasing profits. The Corporate Social Responsibility implementation of oil and gas companies which referred to the theory of stakeholders was only oriented towards building public confidence that the company was sincere in carrying out Corporate Social Responsibility projects, but basically its expectations were on the company’s reputation. In addition, the involvement of stakeholders was not given room to make decisions about Corporate Social Responsibility implementation. Corporate Social Responsibility in the perspective of maqasid al-syari’ah must fulfill 4 (four) main components, consisting of maqasid al-syari’ah compliance, formation of a multi-stakeholder body, establishment of a Sharia Board, and fulfillment of sharia compliance. Keywords: Corporate Social Responsibility, Oil and Gas Companies, Maqasid Al-Syari’ah
Islamic Business Ethics: How to Apply it on Hikma Collection Group (HCG) Management at Pondok Pesantren Miftahul Hikmah Parengan Sub-District, Tuban District, East Java Mela Anggilia; Joko Hadi Purnomo; Niswatin Nurul Hidayati
Journal of Sharia Economics Vol 3 No 2 (2021): Journal of Sharia Economics
Publisher : Program Studi Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Institut Agama Islam Al Hikmah Tuban

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35896/jse.v3i2.262

Abstract

The purpose of this research was to describe and analyze the implementation of Islamic business ethics in the management of HCG (Hikma Collection Group) at Miftahul Hikmah Parengan Tuban, as well as the obstacles faced. This research used qualitative research methods. The results of this research were the implementation of Islamic business ethics in the management of HCG (Hikma Collection Group) using eight principles that are in accordance with Islamic teachings, including the first with the principle of honesty in business, the second with the principle of selling good quality goods. The third principle is not selling out promises to consumers who want to buy at HCG (Hikma Collection Group). The fourth principle applied in HCG (Hikma Collection Group) is to be responsible in doing business regarding dissatisfaction in front of consumers and being responsible before God. The fifth principle is non-binding and generous to customers and all employees by getting used to being polite, smiling, greeting and friendly to all consumers and each employee. The sixth principle is the balance of doing business by always prioritizing the unity of every employee in HCG (Hikma Collection Group). The seventh principle is discipline in administration that uses honesty and timeliness in completing administrative reports. The last principle is to complete the product according to the target desired by the consumer.
PENGARUH MARKETING, NILAI TAKSIRAN DAN BIAYA TITIP PADA GADAI EMAS TERHADAP MINAT NASABAH MENGGUNAKAN FASILITAS GADAI EMAS DI PT. BANK SYARIAH MANDIRI KCP TUBAN Karomatun Ni'mah; Joko Hadi Purnomo; Niswatin Nurul Hidayati
LISAN AL-HAL: Jurnal Pengembangan Pemikiran dan Kebudayaan Vol. 14 No. 1 (2020): JUNI
Publisher : LP2M Universitas Ibrahimy

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (748.013 KB) | DOI: 10.35316/lisanalhal.v14i1.622

Abstract

The main problem in this thesis is whether there is an influence of marketing, appraised value and entrusted cost in increasing customer interest in using the gold pawning facility at PT. Bank Syariah Mandiri KCP Tuban. This research is a type of quantitative research. Collecting data in this study is by distributing questionnaires to gold pawning active customers as many as 32 people, interviews and documentation with Pawning Staff. The technique used is Purposive Sampling, analyzed using Validity Test, Reliability Test, Multiple Linear Regression, Classic Assumption Test, F-count test and partial t test. The results obtained from this study indicate that marketing (X1) has a positive and significant effect on customer interest in using the gold pawning facility. With a t value of 3.054 with a significance level of 0.005 below alpha 5%, the beta value in the Unstandardized Coefficient shows a figure of 2812,565. This means that if the marketing activities undertaken by pawning staff are increased again, this will increase customer interest in using the gold pawning facility assuming other independent variables are considered constant. The appraised value does not affect the customer's interest in using the gold pawning facility, with a t value of 0.635 above 5% alpha. And the cost of deposit has a positive effect on customer interest in using the pawn facility, with a t value of 4.137 and a significance level of 0.000 below alpha 5%, the beta value in the Unstandardized Coefficient shows a figure of 391,547. This means that the costs of being entrusted to the gold pawning facility at PT. Bank Syariah Mandiri KCP Tuban, the cheaper it will attract customers to use the gold pawning facility. Variables X1, X2, X3 simultaneously influence customer interest in using the gold pawning facility at PT. Bank Syariah Mandiri KCP Tuban.