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Comparison of Risks, Returns and Performance Measurements of Sharia and Non-Sharia Mutual Funds in Indonesia Yoyok Prasetyo; Mohamad Anton Athoillah; Deni Kamaludin Yusup
Ijtimā`iyya: Journal of Muslim Society Research Vol 4 No 2 (2019)
Publisher : Postgraduate Program, State Institute on Islamic Studies Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (634.33 KB) | DOI: 10.24090/ijtimaiyya.v4i2.3072

Abstract

Investment is a sacrifice to postpone current consumption by allocating a number of assets that are expected to earn benefits in the future. Islamic Sharia does not forbid Muslims to do it, even there is an indication that it is recommended. The main motivation is to be able to pay more alms in the future. One of investment instruments in Indonesia is Mutual Funds. Indonesia's predominantly Muslim population is one of the triggers for the development of sharia-based mutual funds. However, its development has not been as big as the existing potential market. One of the reasons is there is still a view in the community that sharia-based instruments provide lower returns than non-sharia. This study compares the risks and returns of mutual funds, between sharia and non-sharia based. Sampling of both used purposive sampling, where there were 6 sharia mutual funds and 8 non-sharia mutual funds. The study was conducted in 5 years. The results of the study were: (1) There was no significant difference between the risks of both; (2) There was no significant difference between the returns of both; (3) The performance of non-sharia mutual funds was more dominating than sharia mutual funds.
Waqf Literacy: The Dynamics of Waqf in Indonesia Ahmad Lukman Nugraha; Adib Susilo; Miftahul Huda; Mohamad Anton Athoillah; Chaerul Rochman
Journal of Islamic Economics and Finance Studies Vol 3, No 2 (2022): JIEFeS, December 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v3i2.5082

Abstract

In the history of Islamic civilization, waqf has been a pillar of the glory of Islam. The function of waqf is as a provider of public facilities and social facilities that support the life of the Muslim community, such as mosques, squares, Islamic schools, cemeteries and public roads. The development of waqf in Indonesia can have an influence on fiscal policy, namely through cash waqf. Even though Indonesia has a fairly large waqf potential, Indonesia has not been able to manage its waqf properly. Therefore, studies related to the development of waqf in Indonesia are still an interesting study for both scientists and practitioners. The purpose of this article is to review the development of waqf in Indonesia. The approach used in this paper is descriptive qualitative. The author finds the development of waqf in Indonesia is very dynamic. It can be seen from the existing phenomena, the dynamics of the waqf fatwa and the products being donated are increasingly diverse. At first, waqf only wallowed in fixed assets such as land, schools, Islamic boarding schools, and buildings that had a static nature. Beginning with the 2004 waqf law, waqf objects were transformed into cash waqf which were more practical and productive. Followed by the establishment of BWI in the same year by the Government led to an increase in the administrative management of waqf. Dalam sejarah peradaban Islam, wakaf pernah menjadi penopang kegemilangan Islam. Fungsi wakaf sebagai penyedia fasilitas umum dan fasilitas sosial yang menopang kehidupan masyarakat muslim, seperti masjid, lapangan, madrasah, kuburan dan jalan umum. Perkembangan wakaf di Indonesia dapat memberikan pengaruh terhadap kebijakan fiskal yakni melalui wakaf tunai. Meskipun Indonesia memiliki potensi wakaf yang cukup besar, namun Indonesia belum dapat mengelola wakafnya dengan baik, Oleh karena itu kajian terkait perkembangan wakaf di Indonesia masih saja menjadi kajian yang menarik baik di kalangan akademisi maupun praktisi. Tujuan dari artikel ini adalah untuk mengkaji bagaimana perkembangan wakaf di Indonesia. Pendekatan yang digunakan dalam makalah ini ialah kualitatif deskriptif. Penulis menemukan perkembangan wakaf di Indonesia sangat dinamis. Terlihat dari fenomena yang ada, dinamika fatwa wakaf dan pengembangan jenis aset yang diwakafkan semakin beragam. Pada awalnya, wakaf hanya berkubang pada aset tidak bergerak sepeti tanah, sekolah, pesantren, bangunan yang memiliki sifat statis. Diawali dengan undang-undang wakaf tahun 2004, benda wakaf bertransformasi menjadi wakaf tunai yang lebih bersifat praktis dan produktif. Disusul dengan pembentukan BWI pada tahun yang sama oleh Pemerintah menimbulkan peningkatan pengelolaan wakaf secara administratif.
Penyelesaian Sengketa Perjanjian Syariah pada Lembaga Keuangan Syariah Jajang Herawan; Mohamad Anton Athoillah
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 6 No 1 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i1.3587

Abstract

Settlement of Sharia Agreement Disputes in Islamic Financial Institutions is a positive endeavor to provide legal certainty for justice seekers. The settlement of muamalah disputes in the Islamic tradition has been carried out since the time of the Prophet Muhammad. This is done through a court mechanism known today as litigation and through shulh, fatwa, tahkîm, mazhalim, and hisbah or what is known today as non-litigation. The forms of muamalah dispute resolution that operate in special Islamic financial institutions (LKS) that are currently in effect are almost the same as those that were in effect at the time of the Prophet. The path of litigation through the judiciary and the path of non-litigation through peace or alternative dispute resolution is known in fiqh as shulh, while the route through arbitration or in fiqh terminology is called tahkîm. Keywords: Dispute Resolution, Sharia Agreement, Islamic Financial Institutions
Landasan Implementasi Ekonomi Syariah Dalam Perspektif Maqāṣid al-Sharī‘ah   Mugni Muhit; Mohamad Anton Athoillah
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 6 No 1 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i1.3586

Abstract

Islam as a doctrine will certainly be the main foundation in every human activity that has claimed and positioned Islam as its belief. It is with this doctrine that all activities are guarded and regulate all forms of human activity universally and comprehensively, between humans as creatures and God as Creator and humans as His fellow creatures. A Muslim who needs a means of living, of course, will not be able to avoid all kinds of activities related to the economy, therefore as Muslims in their economic activities they must be based on God's doctrine to achieve prosperity and benefit. For this reason, the purpose of this research is to examine in more detail the transcendent basis of Islamic economics from the perspective of Maqāṣid al-Shari'ah, so that in its implementation, the economic welfare of Muslims increases to become a benefit that has a positive impact on other benefits. Keywords: Foundation, Implementation, Islamic Economics, Maqāṣid Sharī'ah
Konsepsi Dasar Ekonomi Mikro Berbasis Paradigmatik Hukum Ekonomi Syariah Muhammad Yunus; Mohamad Anton Athoillah
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 6 No 2 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i2.3591

Abstract

Islamic economics is believed to be a science that exists as an alternative to conventional economics which has failed to develop human welfare in general. Conventional economics is considered to have been born out of a vacuum and there is no role for Islamic scholarship in its historical development, as stated by Schumpeter in his great gap. Scientists emphatically argue that Greco-Hellenistic scholarship reaches the hands of modern European scholars today through the kindness of the hands of Muslims who modify it and add value to it, as stated by Mehdi Nakosteen. Therefore, it is important to explore the existence of conventional economic conceptions in classical Islamic literature. To prove that Conventional Economics does not depart from a vacuum and that Islamic Economics is part of the history of the birth of conventional economics. In several classical Islamic sources, several basic concepts of conventional economics are found which are not only similar but also exactly the same as a whole. In classical Islamic literature, basic concepts such as unlimited human needs, the concept of value, the concept of production, the theory of supply and demand, the mechanism of market prices and others are found. This provides evidence for us that Islamic economics is not a "new" thing that has never existed in the history of the development of science. Even the science of Islamic Economics existed even before the birth of conventional economics. Keywords: Conception, Microeconomics, Paradigm, Sharia Economic Law
Pola Manajerial Zakat Dalam Perspektif Hukum Ekonomi Islam Irvan Hilmi; Dodi Yarli Rusli; Lina Pusvisasari; Mohamad Anton Athoillah
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 6 No 2 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i2.3606

Abstract

his study intends to explain and examine the managerial patterns of zakat in the perspective of sharia economic law using qualitative methods, with a literature study approach. That zakat in a review of sharia economic law has strategic and significant potential. Therefore, zakat needs to get managerial attention that has a sense of alignment and is consistent with the mechanism of zakat according to syaari' instructions. In addition, the position of the state or in capacity as a government must of course guard it with all seriousness with the sharia mindset always being the basic motivation, so that the managerial pattern applied can function significantly to improve the welfare of society in a comprehensive manner. In this way, empowered zakat can be an alternative solution for people's welfare and a large source of state foreign exchange. So that zakat does not only have religious-spiritual value alone, but also zakat actually has an effective and useful economic value. Keywords: zakat, economic value, Islamid economic
Karakteristik dan Landasan Hukum Pasar: Analisis Efistimologis dan Metodologis Hukum Ekonomi Syariah Royani Royani; Mohamad Anton Athoillah
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 6 No 2 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i2.3607

Abstract

his study intends to explore and examine the concept of the market from the perspective of Islamic teachings, both epistemologically and methodologically which have been practiced in the past. The method used in this research is descriptive analysis with a qualitative research type with a literature study approach. The results of this study prove that Islamic teachings have applied the market concept which includes foundations and characteristics as parameters and references in market governance, price setting, which avoid usury, gharar, maisir. The existence of the market has an important position in human life and life in general, so that Islamic doctrine provides a constructive and complementary basic reference as an effort to clean up the process of transferring property rights and goods from just, civilized and prosperous social relations. Keywords: Characteristics, Foundation, Market, Sharia Economic Law
Implementasi Multi Akad Dalam Transaksi Ekonomi Syariah Setiadi Setiadi; Asep Dadang Hidayat; Moh. Asep Zakariya Ansori; Mohamad Anton Athoillah
Al-Kharaj : Jurnal Ekonomi, Keuangan & Bisnis Syariah Vol 6 No 2 (2024): Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah
Publisher : Research and Strategic Studies Center (Pusat Riset dan Kajian Strategis) Fakultas Syariah IAI Nasional Laa Roiba

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47467/alkharaj.v6i2.3635

Abstract

The renewal of muamalah contracts is very important for the development of more dynamic, progressive and innovative Islamic banking products, so that they can compete with existing conventional banking products. The purpose of this study was to examine the legal basis and design of these multiple contracts and their application in Islamic banking products. The method used in this research is library research. with research. The results of this study are that one of the constructive efforts that is very helpful in developing Islamic banking products is al-jam'u bainal uqud/multi contract, this is a new contract that has never been discussed in classical fiqh books. Scholars allow these multiple contracts as long as they do not violate Islamic principles and values ​​because the purpose of the contracts is to clarify rights and obligations and avoid tyranny that leads to the benefit of humans in this world and the hereafter. Multi contracts in musyarakah mutanaqishah products, namely, syirkah, ijarah, and buying and selling, these contracts form one product, in ijarah Muntiyah bit-tamlik, namely wa'd contracts (promises), ijarah and buying and selling also form one product. These contracts become integrated or there is ta'alluq or attachment and linkages between contracts. Keywords: Multi Contract, Musyarakah Mutanaqisah, Ijarah Muntakiya Bit-Tamlik
Sistem Keuangan Syariah Halalan Thayyiba (Telaah Teoritis Perspektif Hukum Ekonomi Syariah) Jajang Herawan; Mohamad Anton Athoillah
Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam Vol 7, No 02 (2023): Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam
Publisher : Sekolah Tinggi Agama Islam Al Hidayah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30868/ad.v7i02.4488

Abstract

Sistem Keuangan syariah merupakan embrio kekuatan ekonomi di negara ini, di zamannya ia mampu menjadi sistem yang bisa mensejahterakan umatnya. Di masa krisis, ia mampu lolos dari kebangkrutan, sekalipun tidak mendapat bantuan dana BLBI. Konsep yang mengandung ke-Islaman ini harus menjadi kekuatan tersendiri dalam membangkitkan kembali perekonomian negeri ini. Sistem Keuangan Islam ini berkembang pesat memainkan peranan penting dalam mengalokasikan sumber daya dan meningkatkan pembangunan ekonomi. Hasil Penelitian menunjukan bahwa keuangan Islam merupakan sistem yang bersumber dari Al-Quran dan Sunnah, serta dari penafsiran para ulama terhadap sumber-sumber wahyu tersebut. Struktur keuangan Islam menjadi peradaban yang tidak berubah dengan karakteristik nilai ketuhanan, nilai dasar kepemilikan (al-milkiyah), keseimbangan, nilai dasar persaudaraan dan kebersamaan, nilai dasar kebebasan dan nilai dasar keadilan. Sedangkan instrumennya adalah zakat, larangan riba, kerjasama ekonomi, jaminan sosial, larangan praktik usaha yang kotor serta adanya peranan negara dalam sistem ekonomi syariah.
Landasan Teoretik Ekonomi Mikro Dalam Persepktif Islam Klasik Suradi Suradi; Mohamad Anton Athoillah
Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam Vol 7, No 02 (2023): Ad-Deenar: Jurnal Ekonomi dan Bisnis Islam
Publisher : Sekolah Tinggi Agama Islam Al Hidayah Bogor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30868/ad.v7i02.4492

Abstract

Ekonomi syariah merupakan ilmu yang hadir sebagai solusi alternatif dari ekonomi sistem konvensional yang tidak berhasil dalam menciptakan kesejahteraan bagi seluruh manusia. Ilmu ekonomi konvensional diduga tidak ada peran keilmuan Islam dalam catatan sejarahnya seperti diungkpkan Schumpeter dalam the great gap-nya. Padahal beberapa ilmuwan justru menulis bahwa ilmu pengetahuan Yunani-Helenistik didapatkan kelompok terpelajar Eropa saat ini berkat tulisan muslim yang memodifikasinya dan memberikan nilai tambah padanya sebagaimana dinyatakan oleh Mehdi Nakosteen. Maka tentu diperlukan penelusuran keberadaan teori-teori ekonomi konvensional dalam kitab dan buku Islam klasik. Untuk membuktikan bahwa Ilmu Ekonomi Konvensional tumbuh begitu saja dari zero dan tidak pula bahwa Ilmu Ekonomi Islam sebagai bagian dari sejarah kelahiran ekonomi konvensional. Pada beberapa literatur Islam klasik dapat ditemukan beberapa teori dasar ekonomi konvensional yang tidak hanya mirip tapi juga persis samasecara utuh. Pada literatur Islam klasik akan kita temukan teori dasar seperti kebutuhan manusia yang tidak terbatas, teori nilai, teori produksi, teori penawaran dan permintaan, mekanisme harga pasar dan lain-lain. Demikian ini membuktikan bahwa ilmu ekonomi Syariah (Islam) bukanlah konsep dan sistem baru yang sama sekali tidak eksis dalam ilmu pengetahuan.