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All Journal Al-Tijary : Jurnal Ekonomi dan Bisnis Islam
Wicaksono, Muhamad Budi
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Economics, Econometrics & Finance

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Journal : Al-Tijary : Jurnal Ekonomi dan Bisnis Islam

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Securities Crowdfunding (SCF) Syariah Berbasis Sukuk Sebagai Solusi Permodalan UMK Halal Di Indonesia Syamsuri, Syamsyuri; Jakiyudin, Ahmad Havid; Wicaksono, Muhamad Budi
Al-Tijary Vol 8 No 2 (2023): AL-TIJARY VOL. 8, NO. 2, JUNI 2023
Publisher : Faculty of Islamic Economics and Business Sultan Aji Muhammad Idris State Islamic University Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21093/at.v8i2.4931

Abstract

The significant role of halal Micro and Small Enterprises (MSEs) in Indonesia's economy and the challenges they face in accessing capital from conventional financial institutions. With the rise of digital financial technologies, Sharia-based Securities Crowdfunding (SCF) platforms using sukuk offer a promising alternative for providing halal-compliant funding to these enterprises, facilitating their growth and contribution to the halal industry. Therefore, The purpose of this research is to evaluate the feasibility of using Sharia-based Securities Crowdfunding (SCF) with sukuk as an alternative financing solution for halal Micro and Small Enterprises (MSEs) in Indonesia. The proposed method utilizes a prospective analysis to determine the viability of a sukuk-based Sharia SCF using qualitative descriptive research methods, including literature studies, are employed to delve more into the findings of the analysis. The study's findings indicate that sukuk-based Sharia SCF can serve as a viable alternative source of business capital that is assured to be halal. MSE actors have the opportunity to enhance their business by leveraging the SCF provider platform in Indonesia, which offers attractive investment returns. SHAFIQ and LBS Crowdfunding are platforms that facilitate the execution of sharia-compliant investments, specifically sukuk. Enforcing halal certification as a requirement can serve as a catalyst for the growth of the Micro, Small, and Medium Enterprises (MSE) sector in Indonesia, positioning it as a key player in the halal industry by 2024. The research implies that sukuk-based Sharia Securities Crowdfunding (SCF) can significantly improve capital access for halal Micro and Small Enterprises (MSEs) in Indonesia, fostering their growth and sustainability. This approach also strengthens Indonesia's position in the global halal market by ensuring halal compliance in financing.
Strategy of BMT Bima Magelang in Improving Public Welfare through Cash Waqf Wicaksono, Muhamad Budi; Hartomi, Hartomi; Siddiq, Muhammad Rizky
Al-Tijary Vol 9 No 1 (2023): AL-TIJARY VOL. 9, NO. 1, DESEMBER 2023
Publisher : Faculty of Islamic Economics and Business Sultan Aji Muhammad Idris State Islamic University Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21093/at.v9i1.7268

Abstract

Cash waqf is one of the methods used to help people with various activities and overcome challenges such as poverty reduction. The goal of this study was to determine excellent and proper cash waqf administration in line with Sharia and the standards of good waqf governance to increase social welfare, particularly in Baitul Maal Wa Tamwil Bima Magelang. This study employs qualitative research, with data gathered through structured interviews, passive participant observation, and recording. After that, the data was examined using qualitative descriptive analysis. The qualitative descriptive research approach describes the features of phenomena in the field and explains the study object. The findings of this study show that Baitul Maal Wa Tamwil Bima Magelang uses waqf management with the mudharabah system, with mudharabah financing allocated to goat farmers and Micro, small, and Medium Enterprises (MSMEs), and that in the management of cash waqf, BMT Bima Magelang implements good waqf governance, which improves social welfare through social programs. Profits from finance are then utilized to fund businesses and make loans. The revenues from the mudharabah are then utilized for financing (scholarships) for BMT members, financing for child circumcision, and rehabilitation of locals' houses that are unsuited for habitation. These several factors indicate that BMT Bima Magelang's cash waqf management is in conformity with cash standardization, good waqf governance, and sharia management. Implications of the findings that Islamic finance practices can be effective instruments in achieving sustainable social and economic development goals.
Co-Authors Hartomi, Hartomi Jakiyudin, Ahmad Havid Siddiq, Muhammad Rizky Syamsuri, Syamsyuri