EQUILIBRIUM
Equilibrium journal issued by the Department of Islamic Economics, Pascasarjana, STAIN Kudus, periodically (every 6 months) in June and December with the aim of disseminating information about the study of knowledge islamic economics in the form of conceptual studies and research results.
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IKHTIAR MENJADIKAN DINAR-DIRHAM SEBAGAI MATA UANG DI INDONESIA
Mursid, Ali;
Muklisin, Muhammad
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
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Paper money that we hold today is fiat money means the nominal value of money is not balanced by the intrinsic value. As a result, the day-to-day reality of the functions of money has come out of the frame that has been conceptualized in the beginning. Money should have indirect utility functions function. But it would have been eliminated with the advent sumua practice of commodity money, speculation, sagnorage and so on. This paper is made using pieces of library research methods. In this article didiskripsikan many important things about the effort to implement the dinar and dirham as currency in Indonesia. This paper aims to contribute ideas to the Indonesian people to be motivated to apply back the dinar and dirham as currency in the nationâs financial system.
PENGARUH QUALITY OF WORK LIFE TERHADAP KEPUASAN KERJA, KOMITMEN ORGANISASI, TUROVER INTENTION DAN STRES KERJA: STUDI PADA BMT DI KUDUS
Rokhman, Wahibur
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
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This study was conducted to investigate the effect of quality of work life on job satisfaction, organiSational commitment, turnover intention and job stress among the employees of Baitul Mal wat Tamwil (BMT) in Kudus Regency, Central Java, Indonesia. The study uses a sample of 150 employees from 13 institutions of BMT. The empirical testing indicates that quality of work life has positive effects on both job satisfaction and organizational commitment; whereas there is no significant evidence of the effect of quality of work life on turnover intention and job stress. Implication, limitation and suggestion for future research are discussed.
UANG DAN KEBIJAKAN MONETER DALAM PERSPEKTIF EKONOMI ISLAM
Rahmawati, Anita
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
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This paper describes the concept and functions of money in the Islamic economics perspective and analyze the role of money in monetary policy in Islam. The review was interesting to be discussed because there are fundamental differences between the concepts and functions of money in the modern economy and Islamic economics perspectives. In Islam, money is a flow concept and public goods, while capital is a stock concept and private goods. Instead, the concept of money in a modern economy is often interpreted as interchangeability that money as money and money as capital. The presence of money in the economic system will affect the economy of a country, which is usually associated with monetary policy. However, differences in the prevailing economic system, would have a different view about money and monetary policy.
MUDHARABAH DALAM FIQIH DAN PERBANKAN SYARIâAH
Arifin, Meuthiya Athifa
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
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This research intends to know the theoretical foundations related mudharabah in jurisprudence and Shariah banking. The method used in this research is to study literature. The results showed that mudharabah is a contract between two parties whereby one party called rab al-mal (investors) entrusts money to the second party, called mudharib, for the purpose of running a trading business. Mudharabah contract has no basis in the Qurâan and Sunnah, the contract has been used to run a trade by the early generations of Muslims. Mudharabah contract is very different with the syariah bank mudharabah contract as generally described by maszhab-schools of fiqh, or as envisaged by the Shariah bank as a theoretical model of joint venture capital financing, or financing for industrial development.
IKHTIAR PENGEMBANGAN WAKAF PRODUKTIF Studi Analisis Pemikiran Monzer Kahf Tentang Wakaf Produktif
Kasdi, Abdurrohman
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
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The productive endowment based on its definition and concept, contains any provisions on the economy, because by doing productive endowment means transferring the wealth from the effort of consumption towards production and investment in a productive capital which can produce something that can be consumed in next times, either by individuals and groups. Thus, the productive endowment is saving and investing activities simultaneously. It includes any activities that may hold the property which can be utilized by waqif directly or after changing into consumer goods. Therefore, the waqf is an activity that contains many elements of future investments and develops the productive assets for future generations in accordance with the charitable purpose, in the form of benefits, services and utilization of the results. The depth review of the productive endowment was written by Monzer Kahf in his book, Al-Waqf al- Islami; Tathawwuruhu, Idaratuhu, Tanmiyyatuhu. He discussed about the definition of waqf, its history and jurisprudence waqf, the method of management of productive endowment, and its role in improving the welfare of the people and developing the Islamic institutions.
STANDAR UPAH PEKERJA MENURUTSISTEM EKONOMI ISLAM
Ridwan, Murtadho
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
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This article describes the concept of wages in the Capitalist system, Socialists and Islam. This paper also describes about the role of trade unions in the fight for workersâ rights particularly in the fight for minimum wage levels. This topic is interesting to be studied because there is a fundamental difference between the concept of wages according to Capitalists, Socialists and Islam. In Islam, the worker does not like other production factors in determining wages so that workers can not be treated like any other factor of production which is based on the law of supply and demand. Minimum wage in Islam must satisfy two requirements, that are fair and reasonable terms which are acceptable wage a worker must be able to meet the basic needs of workers and their families. And if the wages paid are not self-sufficient, then Islam categorizes workers in ashanaf are eligible to receive zakat.
TINJAUAN KEPEMILIKAN DALAM KPR SYARIAH: ANTARA MURABAHAH, IJARAH MUNTAHIYYAH BITTAMLIK, DAN MUSYARAKAH MUTANAQISAH
Kurniawan, Afit;
Inayah, Nur
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
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The house is a basic need, but not everyone has the purchasing power. This opportunity is exploited by the Islamic banking with Sharia mortgages or Financing Home Ownership. There are three financing agreement used by mortgage banks in the Shariâah ie murabaha contract, Muntahiyyah bittamlik ijara contract, and Musharaka mutanaqisah contract. This study uses the method based on litelature aimed to uncover how the implementation of the contractagreement in the main Islamic banks in the matter of ownership. Of studies conducted found a mismatch between the Islamic principles of positive law which has been applied in the third contract. The problems relating wakalah contract, and their impact on ownership.
TAWARRUQ PRACTICE FOR LIQUIDITY MANAGEMENT IN ISLAMIC MONEY MARKET IN INDONESIA AND MALAYSIA
*, Rohmad;
Mihajat, Muhammad Iman Satra;
Hasan, Aznan
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
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The fast development of Islamic banking and finance in the global market in the last two decades has been raised some issues especially the issue of lack of the product for liquidity management. High demand for Islamic banking and finance it impact high innovation of products and services. Since the business of banking merely related to funding and financing that is also relevant to Islamic banking and intermediary institution, the issue of surplus position and deficit position it has to covered by the product that manage this liquidity issues. The main purpose of this paper is to review the tawarruq that being practiced as Islamic money market instrument in Indonesia and Malaysia that used by Islamic financial institution for liquidity management. In 2011, Jakarta Future Exchange has launched one instrument for Islamic bank as liquidity management instrument namely Komoditi Syariah. This product has some features differences with Bursa Suq Al-Sila Malaysia which launced in 2009, nevertheless they are using the same Islamic contract that is commodity murabahah or known as tawarruq. This paper found that there are some shariah potential issues that affect the compliancy of the product. The paper tries to put some shariah issues in the structures that should be taken into consideration for future shariah structure in liquidity risk management in Islamic banking industries. Therefore, Islamic bank, Islamic stock exchange institutions and other Islamic financial that offer Islamic financial services may take into concern what are shariah parameters in apppling tawarruq structure in any product and services in Islamic bank.
Kata kunci: Liquidity Management, Tawarruq, Komoditi Syariah, Bursa Suq Al-Sila
TAWARRUQ PRACTICE FOR LIQUIDITY MANAGEMENT IN ISLAMIC MONEY MARKET IN INDONESIA AND MALAYSIA
*, Rohmad;
Mihajat, Muhammad Iman Satra;
Hasan, Aznan
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus
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DOI: 10.21043/equilibrium.v1i2.219
The fast development of Islamic banking and finance in the global market in the last two decades has been raised some issues especially the issue of lack of the product for liquidity management. High demand for Islamic banking and finance it impact high innovation of products and services. Since the business of banking merely related to funding and financing that is also relevant to Islamic banking and intermediary institution, the issue of surplus position and deficit position it has to covered by the product that manage this liquidity issues. The main purpose of this paper is to review the tawarruq that being practiced as Islamic money market instrument in Indonesia and Malaysia that used by Islamic financial institution for liquidity management. In 2011, Jakarta Future Exchange has launched one instrument for Islamic bank as liquidity management instrument namely Komoditi Syariah. This product has some features differences with Bursa Suq Al-Sila Malaysia which launced in 2009, nevertheless they are using the same Islamic contract that is commodity murabahah or known as tawarruq. This paper found that there are some shariah potential issues that affect the compliancy of the product. The paper tries to put some shariah issues in the structures that should be taken into consideration for future shariah structure in liquidity risk management in Islamic banking industries. Therefore, Islamic bank, Islamic stock exchange institutions and other Islamic financial that offer Islamic financial services may take into concern what are shariah parameters in apppling tawarruq structure in any product and services in Islamic bank. Kata kunci: Liquidity Management, Tawarruq, Komoditi Syariah, Bursa Suq Al-Sila
IKHTIAR MENJADIKAN DINAR-DIRHAM SEBAGAI MATA UANG DI INDONESIA
Mursid, Ali;
Muklisin, Muhammad
EQUILIBRIUM Vol 1, No 2 (2013): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus
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DOI: 10.21043/equilibrium.v1i2.212
Paper money that we hold today is fiat money means the nominal value of money is not balanced by the intrinsic value. As a result, the day-to-day reality of the functions of money has come out of the frame that has been conceptualized in the beginning. Money should have indirect utility functions function. But it would have been eliminated with the advent sumua practice of commodity money, speculation, sagnorage and so on. This paper is made using pieces of library research methods. In this article didiskripsikan many important things about the effort to implement the dinar and dirham as currency in Indonesia. This paper aims to contribute ideas to the Indonesian people to be motivated to apply back the dinar and dirham as currency in the nation’s financial system.