The document discusses the challenges facing Baitul Mal Wa Tamwil (BMT), which are Islamic microfinance institutions in Indonesia, as they transform in accordance with new regulations. It identifies several key challenges BMTs may face: (1) meeting the evolving needs of low-income communities, (2) protecting customers as operations become more professional, and (3) finding new sources of funding. The document argues that to address these challenges, BMTs will need to innovate by better targeting underserved groups like women, developing new financing methods, undergoing organizational changes, and becoming more environmentally sustainable. Addressing these challenges is important for BMTs to fulfill their social purpose while remaining viable organizations in the future.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Measures for Achieving Financial Inclusion in India and Its Inclusive Growthiosrjce
Financial Inclusion is the first and foremost policy option to fulfil social and financial needs across
the country. The primary responsibility, in any country, is providing financial services to vulnerable groups to
improve their standard of living. “Fifty six percent of adults in the world do not have access to formal financial
services” (Oya Pinar Ardic, 2011), whereas “in India 89.3 million farmers i.e., 72.7% of total population, are
excluded from formal sources of finance” (KabitaKumariSahu, 2013). The Reserve Bank of India directed
commercial banks to promote financial inclusion in India which in turn results in the development of
economically backward areas. Rajan&Zingales, (1998) indicates that “there is a positive relationship between
financial developments with growth in banking industry through financial inclusion”. Leeladhar, (2006) states
that liberalization of banking services at an affordable cost to vast sections of disadvantaged and low-income
groups is essential for sustainable growth of an economy. As per the directions of RBI, all commercial banks
have been taking assistance from various social and financial entities like Joint Liability Groups, Non-Banking
Finance Companies (NBFC), Self-help groups, co-operative Banks, and Regional Rural Banks (RRBs) to
improve financial inclusion.“Financial inclusion is a very important, complementary and incremental approach
for inclusive development and poverty reduction” (Michael Chibba, 2009).The main objective of the study is to
know the status of financial inclusion in India and to give appropriate suggestions for inclusive growth of an
economy.
This content is mandatory reading by all UG & PG Students from India & Abroad to prepare for any Personal or HR Interview for Job in MNC’s & Admission in Top Colleges.
International Journal of Business and Management Invention (IJBMI)inventionjournals
International Journal of Business and Management Invention (IJBMI) is an international journal intended for professionals and researchers in all fields of Business and Management. IJBMI publishes research articles and reviews within the whole field Business and Management, new teaching methods, assessment, validation and the impact of new technologies and it will continue to provide information on the latest trends and developments in this ever-expanding subject. The publications of papers are selected through double peer reviewed to ensure originality, relevance, and readability. The articles published in our journal can be accessed online.
Measures for Achieving Financial Inclusion in India and Its Inclusive Growthiosrjce
Financial Inclusion is the first and foremost policy option to fulfil social and financial needs across
the country. The primary responsibility, in any country, is providing financial services to vulnerable groups to
improve their standard of living. “Fifty six percent of adults in the world do not have access to formal financial
services” (Oya Pinar Ardic, 2011), whereas “in India 89.3 million farmers i.e., 72.7% of total population, are
excluded from formal sources of finance” (KabitaKumariSahu, 2013). The Reserve Bank of India directed
commercial banks to promote financial inclusion in India which in turn results in the development of
economically backward areas. Rajan&Zingales, (1998) indicates that “there is a positive relationship between
financial developments with growth in banking industry through financial inclusion”. Leeladhar, (2006) states
that liberalization of banking services at an affordable cost to vast sections of disadvantaged and low-income
groups is essential for sustainable growth of an economy. As per the directions of RBI, all commercial banks
have been taking assistance from various social and financial entities like Joint Liability Groups, Non-Banking
Finance Companies (NBFC), Self-help groups, co-operative Banks, and Regional Rural Banks (RRBs) to
improve financial inclusion.“Financial inclusion is a very important, complementary and incremental approach
for inclusive development and poverty reduction” (Michael Chibba, 2009).The main objective of the study is to
know the status of financial inclusion in India and to give appropriate suggestions for inclusive growth of an
economy.
This content is mandatory reading by all UG & PG Students from India & Abroad to prepare for any Personal or HR Interview for Job in MNC’s & Admission in Top Colleges.
PROJECT REPORT ON MICRO FINANCE// FREE PROJECT REPORT|| MBA PROJECT REPORT|| MBA FINANCE FREE PROJECT REPORT ON MICRO FINANCE ||MBA PROJECT REPORT ON MICRO FINANCE || SMU MBA FINANCE 4RTH SEMESTER FREE PROJECT REPORT ON MICRO FINANCE|| HOW TO MAKE PROJECT ON MICRO FINANCE || FREE DOWNLOAD FULL PROJECT REPORT ON MICRO FINANCE
Financial Inclusion in India – A Road Map towards Growth of Initiatives and A...iosrjce
Finance has become an essential part of an economy for development of the society as well as
economy of nation. For, this purpose a strong financial system is required in not only in under-developed
countries and developing countries but also developed countries for sustainable growth. Through Financial
inclusion we can achieve equitable and inclusive growth of the nation. Financial inclusion stands for delivery of
appropriate financial services at an affordable cost, on timely basis to vulnerable groups such as low income
groups and weaker section who lack access to even the most basic banking services. In this paper, the
researcher attempts to understand financial inclusion and its importance for overall development of society and
Nation’s economy. This study focuses on approaches adopted by various Indian banks towards achieving the
ultimate goal of financial inclusion for inclusive growth in India and analyses of past years progress and
achievements. The relevant data for this study has been collected with the help of from various Research
journals, Articles, reports of RBI, reports of NABARD and online resources
Research Inventy : International Journal of Engineering and Scienceresearchinventy
Research Inventy : International Journal of Engineering and Science is published by the group of young academic and industrial researchers with 12 Issues per year. It is an online as well as print version open access journal that provides rapid publication (monthly) of articles in all areas of the subject such as: civil, mechanical, chemical, electronic and computer engineering as well as production and information technology. The Journal welcomes the submission of manuscripts that meet the general criteria of significance and scientific excellence. Papers will be published by rapid process within 20 days after acceptance and peer review process takes only 7 days. All articles published in Research Inventy will be peer-reviewed.
Implementing the aspects of financial inclusion in the phase of demonetisatio...IJLT EMAS
The concept of ‘financial inclusion’ was introduced by
the reserve bank of India in April 2005 with an objective of
delivering financial services to the economically challenged and
underdeveloped segment of the society at an affordable rate. RBI
encouraged the formal banking sector as well as the microfinance
sector to provide soft loans and savings facilities especially to the
poor with a flexible documentation process to attract them under
the umbrella of RBI. This will not only improve the financial
stake of the low-income group of the country, but also ensure
them a safe investment and will increase the portfolio size of the
bank and NBFCs. In 2014, The Government of India announced
‘Pradhan Mantri Jan Dhan Yojna” to expand the financial
inclusion project by bringing more people under banking and
banking spread sector. On 8th November 2016, Mr Narendra
Modi, Prime minister of India ceased 500 and 1000 rupee notes
as legal tender which can be termed as demonetization. Although
the immediate mission was to eradicate black money, fake money
and terror financing; it can be considered as a way forward to
the ‘Jan Dhan Yojna” and hence can be used as a strategy
instrument of imposing financial inclusion across the country.
This paper examines the advantages and disadvantages of
demonetization in implementing financial inclusion in India. In
spite of the fact that demonetization will force the people to make
their transaction through bank and NBFCs , there are serious
challenges like the liquidity crunch of the cash based segment of
the economy, the bank and digital literacy issues etc. In this
paper the challenging issues have been addressed as well as the
bottleneck of financial inclusion in post-demonetization period
has been discussed by identifying the crucial parameters like
percentage of people having bank account, the percentage of
people uses mobile and /or internet, the literacy percentage of the
country, the policy of the banks, the documentation requirement
of the bank and feasibility of the poor section etc.
Indian agriculture sector experiences vicious circle of poverty which decelerate economic growth. Financial exclusion is one of the main reason of it. In India marginals and weaker sections are excluded from main stream of the economy. To achieve sustainable development, all sections of the people need to be come into main stream. This study is an attempt to understand the concept of financial inclusion, financial inclusion in India and micro finance. RBI defines “Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players”. The present study also tries to understand how micro finance lending facilitates the acceleration of financial inclusion. Micro finance lending is a strong weapon of financial inclusion. Micro credit provided by banks emerged as a major policy tool of financial assistance in the rural credit, particularly to the poor sections of the society. Micro finance by providing small loans and savings facilities to those who have been excluded from other formal services, acting as a key strategy for reducing poverty and discrimination.
Inclusive development means empowerment of weaker sections, SC/STs and women. In this context “financial inclusion “ owns its significance.
An Assessment of the role of Financial literacy on Performance of Small and M...World-Academic Journal
The purpose of this study was to assess the effects of the financial literacy education on performance of small and micro enterprises in Njoro District where the program was implemented since 2011. The study investigated the financial literacy skills imparted, and their role on performance of small scale enterprises. Specific objectives of the study were: to establish how book keeping skills influence performance of MSEs under that EGF financial literacy programme in Njoro District, to establish the effects of credit management skills on performance of SMEs under EGF financial literacy programme in Njoro District and to find out how budgeting skills affect performance of SMEs under that EGF financial literacy programme in Njoro District. Descriptive survey research design was used to guide the study. The target population for the study was 467 beneficiaries of equity group foundation project in Njoro District. A sample size of 82 was selected random sampling technique. Primary data was obtained using questionnaires administered to the selected program beneficiaries. Data collected was then organized, coded and entered in the computer for analysis. Analysis was done using frequency counts, percentages, means and standard deviation, t-test was used to analyses the difference in performance before and after training. The study found out that: the program emphasized on budgeting, financial analysis, credit management and book keeping skills; indeed there was a significant improvement in revenue performance of small enterprises whose managers had attended the financial literacy programme. Credit management skills obtained through the financial literacy programme enhanced performance through acquisition of credit financing, and management of loan portfolios to ensure that loan liability was minimized and interest expenses minimized. Budgeting skills significant roles in growing sales, profits and ensuring smooth running of the business. The impact of this programme is evident in enhancing business performance. The government should therefore fund the mainstreaming financial literacy training programmes throughout the country as a strategy for enhancing small and micro enterprise performance.
Maqhashid Sharia in Clean Water Financing Business Model at Islamic BankMercu Buana University
Abstract: The aim of paper is to find out the effectiveness of feasibility financing intervention without collateral at clean water financing business model at Islamic Bank. The method on this paper uses a qualitative approach which support by quantitative data of water financing during period June 2013 till July 2015. Nevertheless, discussion on this paper limited by questions: (i) What the links between Islamic banking with microfinance; (ii) What clean water financing Business Model at Islamic Bank?; (iii) What the risk management required for expand clean water financing portfolio?; (iv) How many the clean water financing has been realizing and the qualities of the financing among June 2013 until July 2015?. The role of Islamic Bank as the organization which has a mission not only achieve financial performance, but also social performance, therefore, Islamic Bank provides clean water financing to poor people with appropriate risk management (“al-ghorm bill ghonm” and “al-kharaj bill Daman”). Feasibility financing analysis for clean water financing needs the intervention to give solution for the poor people whose don’t have collateral as the financing required. The most important in the feasibility analysis for clean water financing is the character of the candidate which can access through credit bureau tools of central Bank. The findings of this research are with intervention feasibility analysis approach for clean water financing, the disbursement of clean water financing in the period June 2013 till July 2015 has reached 2281 clients with outstanding Rp2.296.579.363,- and have good quality which means no arrears of installment. In addition, to achieving massive impact for clean water financing needs the role of government to provide financing insurance as the mandatory facilities in clean water financing business model.
PROJECT REPORT ON MICRO FINANCE// FREE PROJECT REPORT|| MBA PROJECT REPORT|| MBA FINANCE FREE PROJECT REPORT ON MICRO FINANCE ||MBA PROJECT REPORT ON MICRO FINANCE || SMU MBA FINANCE 4RTH SEMESTER FREE PROJECT REPORT ON MICRO FINANCE|| HOW TO MAKE PROJECT ON MICRO FINANCE || FREE DOWNLOAD FULL PROJECT REPORT ON MICRO FINANCE
Financial Inclusion in India – A Road Map towards Growth of Initiatives and A...iosrjce
Finance has become an essential part of an economy for development of the society as well as
economy of nation. For, this purpose a strong financial system is required in not only in under-developed
countries and developing countries but also developed countries for sustainable growth. Through Financial
inclusion we can achieve equitable and inclusive growth of the nation. Financial inclusion stands for delivery of
appropriate financial services at an affordable cost, on timely basis to vulnerable groups such as low income
groups and weaker section who lack access to even the most basic banking services. In this paper, the
researcher attempts to understand financial inclusion and its importance for overall development of society and
Nation’s economy. This study focuses on approaches adopted by various Indian banks towards achieving the
ultimate goal of financial inclusion for inclusive growth in India and analyses of past years progress and
achievements. The relevant data for this study has been collected with the help of from various Research
journals, Articles, reports of RBI, reports of NABARD and online resources
Research Inventy : International Journal of Engineering and Scienceresearchinventy
Research Inventy : International Journal of Engineering and Science is published by the group of young academic and industrial researchers with 12 Issues per year. It is an online as well as print version open access journal that provides rapid publication (monthly) of articles in all areas of the subject such as: civil, mechanical, chemical, electronic and computer engineering as well as production and information technology. The Journal welcomes the submission of manuscripts that meet the general criteria of significance and scientific excellence. Papers will be published by rapid process within 20 days after acceptance and peer review process takes only 7 days. All articles published in Research Inventy will be peer-reviewed.
Implementing the aspects of financial inclusion in the phase of demonetisatio...IJLT EMAS
The concept of ‘financial inclusion’ was introduced by
the reserve bank of India in April 2005 with an objective of
delivering financial services to the economically challenged and
underdeveloped segment of the society at an affordable rate. RBI
encouraged the formal banking sector as well as the microfinance
sector to provide soft loans and savings facilities especially to the
poor with a flexible documentation process to attract them under
the umbrella of RBI. This will not only improve the financial
stake of the low-income group of the country, but also ensure
them a safe investment and will increase the portfolio size of the
bank and NBFCs. In 2014, The Government of India announced
‘Pradhan Mantri Jan Dhan Yojna” to expand the financial
inclusion project by bringing more people under banking and
banking spread sector. On 8th November 2016, Mr Narendra
Modi, Prime minister of India ceased 500 and 1000 rupee notes
as legal tender which can be termed as demonetization. Although
the immediate mission was to eradicate black money, fake money
and terror financing; it can be considered as a way forward to
the ‘Jan Dhan Yojna” and hence can be used as a strategy
instrument of imposing financial inclusion across the country.
This paper examines the advantages and disadvantages of
demonetization in implementing financial inclusion in India. In
spite of the fact that demonetization will force the people to make
their transaction through bank and NBFCs , there are serious
challenges like the liquidity crunch of the cash based segment of
the economy, the bank and digital literacy issues etc. In this
paper the challenging issues have been addressed as well as the
bottleneck of financial inclusion in post-demonetization period
has been discussed by identifying the crucial parameters like
percentage of people having bank account, the percentage of
people uses mobile and /or internet, the literacy percentage of the
country, the policy of the banks, the documentation requirement
of the bank and feasibility of the poor section etc.
Indian agriculture sector experiences vicious circle of poverty which decelerate economic growth. Financial exclusion is one of the main reason of it. In India marginals and weaker sections are excluded from main stream of the economy. To achieve sustainable development, all sections of the people need to be come into main stream. This study is an attempt to understand the concept of financial inclusion, financial inclusion in India and micro finance. RBI defines “Financial Inclusion is the process of ensuring access to appropriate financial products and services needed by all sections of the society in general and vulnerable groups such as weaker sections and low income groups in particular at an affordable cost in a fair and transparent manner by mainstream institutional players”. The present study also tries to understand how micro finance lending facilitates the acceleration of financial inclusion. Micro finance lending is a strong weapon of financial inclusion. Micro credit provided by banks emerged as a major policy tool of financial assistance in the rural credit, particularly to the poor sections of the society. Micro finance by providing small loans and savings facilities to those who have been excluded from other formal services, acting as a key strategy for reducing poverty and discrimination.
Inclusive development means empowerment of weaker sections, SC/STs and women. In this context “financial inclusion “ owns its significance.
An Assessment of the role of Financial literacy on Performance of Small and M...World-Academic Journal
The purpose of this study was to assess the effects of the financial literacy education on performance of small and micro enterprises in Njoro District where the program was implemented since 2011. The study investigated the financial literacy skills imparted, and their role on performance of small scale enterprises. Specific objectives of the study were: to establish how book keeping skills influence performance of MSEs under that EGF financial literacy programme in Njoro District, to establish the effects of credit management skills on performance of SMEs under EGF financial literacy programme in Njoro District and to find out how budgeting skills affect performance of SMEs under that EGF financial literacy programme in Njoro District. Descriptive survey research design was used to guide the study. The target population for the study was 467 beneficiaries of equity group foundation project in Njoro District. A sample size of 82 was selected random sampling technique. Primary data was obtained using questionnaires administered to the selected program beneficiaries. Data collected was then organized, coded and entered in the computer for analysis. Analysis was done using frequency counts, percentages, means and standard deviation, t-test was used to analyses the difference in performance before and after training. The study found out that: the program emphasized on budgeting, financial analysis, credit management and book keeping skills; indeed there was a significant improvement in revenue performance of small enterprises whose managers had attended the financial literacy programme. Credit management skills obtained through the financial literacy programme enhanced performance through acquisition of credit financing, and management of loan portfolios to ensure that loan liability was minimized and interest expenses minimized. Budgeting skills significant roles in growing sales, profits and ensuring smooth running of the business. The impact of this programme is evident in enhancing business performance. The government should therefore fund the mainstreaming financial literacy training programmes throughout the country as a strategy for enhancing small and micro enterprise performance.
Maqhashid Sharia in Clean Water Financing Business Model at Islamic BankMercu Buana University
Abstract: The aim of paper is to find out the effectiveness of feasibility financing intervention without collateral at clean water financing business model at Islamic Bank. The method on this paper uses a qualitative approach which support by quantitative data of water financing during period June 2013 till July 2015. Nevertheless, discussion on this paper limited by questions: (i) What the links between Islamic banking with microfinance; (ii) What clean water financing Business Model at Islamic Bank?; (iii) What the risk management required for expand clean water financing portfolio?; (iv) How many the clean water financing has been realizing and the qualities of the financing among June 2013 until July 2015?. The role of Islamic Bank as the organization which has a mission not only achieve financial performance, but also social performance, therefore, Islamic Bank provides clean water financing to poor people with appropriate risk management (“al-ghorm bill ghonm” and “al-kharaj bill Daman”). Feasibility financing analysis for clean water financing needs the intervention to give solution for the poor people whose don’t have collateral as the financing required. The most important in the feasibility analysis for clean water financing is the character of the candidate which can access through credit bureau tools of central Bank. The findings of this research are with intervention feasibility analysis approach for clean water financing, the disbursement of clean water financing in the period June 2013 till July 2015 has reached 2281 clients with outstanding Rp2.296.579.363,- and have good quality which means no arrears of installment. In addition, to achieving massive impact for clean water financing needs the role of government to provide financing insurance as the mandatory facilities in clean water financing business model.
Role of Government Support to Micro Financing in Islamic Bank for Clean Water...Mercu Buana University
Microfinance for water connections have a very important role for low-income people who have the cash to pay
for clean water connections are limited. Clean water is a basic human need for survival. It is considered that the
Islamic banks to innovate microfinance products. Product innovation is the use of micro financing murabaha
contracts and feasibility analysis of interventions that aim to facilitate the applicant that low-income people get
clean water connections. In order for microfinance product water connection can have a wide impact, the role of government and stakeholders is required to minimize the risk.
The purpose of this literature review is to find out the
link Islamic principles based on the Qur’an, and hadith that in
line with the green microfinance activities. The scope of this
literature review is divided into four main sections: (1) Is
Islamic perspective on economic activities has concern with the
environmental issues?, (2) Why microfinance has an important
role to implementing green microfinance activities?, (3) What's
the link between Islamic principles and green microfinance
activities, (4) Who has responsibilities on the implementation of
green microfinance activities?. Based on Islamic perspective, the
people can run their business as long as they didn’t destroy
environmental. The conservation of environmental very
important to support the sustainability of human life, it's
reflected in The Qur’an and Hadith as the supreme sources of
Islamic law. Furthermore, Islamic finance has a strong
engagement with the microfinance activities, because the main
clients of microfinance are low income people, and the one of
microfinance objectives is related to poverty alleviation.
Furthermore, the majority clients of microfinance are poor
people that also as the contributor of environmental destruction.
Linked to this condition, must be exist appropriate law
enforcement from the government who has the legitimacy to
force microfinance institution for implementing environmental
conservation activities.
The purpose of this literature review is to find out the
link Islamic principles based on the Qur’an, and hadith that in
line with the green microfinance activities. The scope of this
literature review is divided into four main sections: (1) Is
Islamic perspective on economic activities has concern with the
environmental issues?, (2) Why microfinance has an important
role to implementing green microfinance activities?, (3) What's
the link between Islamic principles and green microfinance
activities, (4) Who has responsibilities on the implementation of
green microfinance activities?. Based on Islamic perspective, the
people can run their business as long as they didn’t destroy
environmental. The conservation of environmental very
important to support the sustainability of human life, it's
reflected in The Qur’an and Hadith as the supreme sources of
Islamic law. Furthermore, Islamic finance has a strong
engagement with the microfinance activities, because the main
clients of microfinance are low income people, and the one of
microfinance objectives is related to poverty alleviation.
Furthermore, the majority clients of microfinance are poor
people that also as the contributor of environmental destruction.
Linked to this condition, must be exist appropriate law
enforcement from the government who has the legitimacy to
force microfinance institution for implementing environmental
conservation activities.
The Urgency of Allignment Islamic Bank to Increasing the Outreach (Indonesia ...Mercu Buana University
The outreach of Islamic Bank is critical to circulate out of maslahah (beneficiaries) to the community (Ummah) and the implementation of Sharia in
totality (Kaffah). Nevertheless, Indonesia as the biggest Muslim in the world should facilitate the Muslim society to access their financial transaction
needs based their Islamic law. The study aims to examine the outreach of Islamic Bank in Indonesia. The methodology in this literature review is
qualitative that support with quantitative data. Three questions research is going to determine in this study are: (i) How the growth of Islamic Banks
from 2008 to 2015? (ii) How many the clients that have sworn out by Islamic Banks? (iii) What is the link between maslahah and the Islamic Bank
growth? We founded the outlet and business performance during 2008-2015 of Islamic Bank in Indonesia still behind from Conventional Bank thus
to improve the backward we need interaction, integration and evolution process from all stakeholders. Due to achieve the increasing of outreach we
also need the role of government in the political will that function to legitimate and enforce the alignment of Islamic Banks (Bank Syariah Mandiri,
BNI Syariah, BTN Syariah and BRI Syariah) became one state own Islamic Bank which objective to create social well-being of the community.
This paper considers that the most challenging needs facing the development of Microentrepreneurship, are the need to develop innovative socially-oriented banks that care about the ―unbankable‖ segment of the society. Family Bank is considered to be one of the ―social businesses‖ which are based entirely upon the partnership as well as social corporate responsibility (CSR) of private sector.
The Factors Affecting Mudharabah Deposits of Sharia Banking in Indonesiainventionjournals
Mudharabah deposit is one of main fund resource of sharia bank, teherefore the growth must be maintained. This research is aimed to find whether there are influences of profit-sharing rate of mudharabah saving, interest rate of saving in conventional bank, growth rate of Jakarta Islamic Index (JII), and Gross Domestic Product (GDP) to the amount of mudharabah saving in sharia banks. The sharia banks which are used in this research are all of sharia commercial bank in Indonesia.The method of this research is Ordinary Least Square (OLS) with quarterly panel data from 2006 to 2015 of the twelve sharia banks which are observed. The approach model which is used in this research is Fixed Effect Model. The result of this research showed that profit-sharing rate of mudharabah saving, interest rate of saving, growth rate of Jakarta Islamic Index (JII), and Gross Domestic Product (GDP) have significant influences to the amount of mudharabah saving in sharia banks. Profit-sharing rate of mudharabah saving, growth rate of Jakarta Islamic Index (JII), and Gross Domestic Product (GDP) have positive influences to the amount of mudharabah saving, Meanwhile, interest rate of saving in conventional bank has a negative influence to the amount of mudharabah saving
AlHuda-Centre of Islamic Banking and Economics (CIBE) is a well known name in Islamic Banking and Finance sector which focuses on training, awareness, advisory and publications on Islamic Banking & Finance in order to promote the industry. AlHuda CIBE has organized a successful Conference "3rd Global Islamic Microfinance Forum" held on 6th & 7th October, 2013 in Dubai. AlHuda CIBE is very much pleased to share the topics and presentations being held in the Forum.
Human Capital and The Use Of Information Technology To Enhance Sustainable Co...Mercu Buana University
This study aims to determine the effect of human capital and the use of information technology on the competitive advantage of Sharia banking. The study takes an analysis unit of Indonesia Sharia banking. The type of data used is primary data using a questionnaire which sampling used is a stratified random sampling model where respondents in this study consist of leaders and employees in Sharia banking. This research uses desciptive qualitative approach. Data analysis used PLS consisting of Outer Model test (Validity and Reliability) and Inner Model test (coefficient of determination and T test). The results show that human capital has no significant effect and the use of information technology has a significant effect on the sustainable competitive advantage of Sharia Banking.
Asuransi syariah di Indonesia berpotensi untuk tumbuh seiring dengan peningkatan pasar keuangan syariah. Tujuan dari penulisan ini adalah mengetahui bagaimana sikap perilaku masyarakat terhadap eksistensi asuransi syariah. Selain itu melihat apakah ada faktor yang mendukung eksistensi asuransi dan kesadaran masyarakat terhadap asuransi syariah di Indonesia. Metode penelitian ini menggunakan kajian pustaka atau library research dengan pendekatan deskriptif yang merupakan bagian dari kualitatif. Data yang digunakan berupa tulisan, grafik, gambar dan bukan angka-angka. Hasil penelitian bahwa eksistensi asuransi syariah di Indonesia dapat ditingkatkan apabila memiliki dasar hukum yang khusus yang masih sangat minim untuk mengatur asuransi syariah serta peran agen asuransi syariah sangat diperlukan untuk menjembatani informasi kepada masyarakat tentang produk, sistem, kegunaan, manfaat asuransi syariah.
Determinants Factors of Stock Price in Oil and Gas Sector (Indonesia Stock Ex...Mercu Buana University
The purpose of this study is to examine the factors that affect the stock prices of oil and gas subsector companies (oil and gas). These factors are Oil Price, Debt to Equity Ratio (DER), and Exchange Rate. The research design used is comparative causal research. Sampling in this research is done by using purposive sampling method technique. The analysis technique used is panel data regression analysis. The result of the study by using f-statistic test shows that the variable of Oil Price, DER and Exchange Rate simultaneously have a significant effect on Stock Price. While the result of the t-statistic test shows that the variable of Oil Price has a significant positive impact, while DER and Exchange Rate have a significant negative effect to a stock price of oil and gas listed in Indonesia Stock Exchange period 2011-2016.
Analisa Pengaruh Perputaran Kas dan Perputaran Piutang Terhadap Return on Ass...Mercu Buana University
Tujuan penelitian ini adalah untuk mengetahui seberapa besar pengaruh dari perputaran kas dan perputaran piutang terhadap profitabilitas atau return on asset (ROA). Jenis penelitian ini adalah penelitian kausal komparatif dengan pendekatan kuantitatif. Pengambilan sampel dengan menggunakan teknik purposive sampling yang berjumlah 20 perusahaan dari perusahaan LQ 45 yang terdaftar di Bursa Efek Indonesia pada periode tahun 2012-2017 sehingga total sampel pada penelitian ini berjumlah 120. Metode analisa data yang digunakan adalah menggunakan regresi linier berganda. Hasil penelitian menunjukkan bahwa Perputaran Kas berpengaruh positif dan signifikan terhadap ROA. Sedangkan Perputaran Piutang berpengaruh negatif dan tidak signifikan terhadap ROA. Dengan demikian manajemen perusahaan untuk meningkatkan profitabilitas (ROA) harus mampu mengelola perputaran kasnya agar likuiditas dari perusahaan dapat terjaga dengan baik. Selain itu walaupun perputaran piutang dalam penelitian ini berpengaruh negati tidak signifikan, akan tetapi manajemen perusahaan juga harus memberikan perhatian agar piutang yang dimiliki perusahaan memiliki kualitas yang baik agar tidak berdampak terhadap menurunnya profit perusahaan.
The Diversity Of Waqf Implementations for Economic Development in Higher Educ...Mercu Buana University
The development of higher education in Malaysia is multiplying based on the increasing numbers of Public Higher Learning Institutions (IPTA) and Private Higher Learning Institutions (IPTS). This increase has encouraged various parties to collaborate to create a solid foundation and strategy to create IPT to become more competitive. However, the funding factor is still one restraint that IPTs must face. To overcome this problem, one example of IPT is taking the initiative by implementing waqf for higher education in limited institutions. Based on this scenario, the present paper was written to achieve two objectives: The first isto examine the precise development of higher education waqf that has been implemented in IPT in Malaysia. Thesecond isto precisely examine the variety of waqf that can be implemented for higher education. This study is an exploration in which the data used were derived from library research. The findings of this study will develop a theory on the diversification of waqf implementations for higher education in Malaysia.
Marketing Strategy for Renewable Energy development In Indonesia Context TodayMercu Buana University
Economic development depends on the availability of energy, especially in supporting the current government’s development priorities to build the infrastructure sector in Indonesia, while the goal of development is to improve the nation’s competitiveness this research aims to investigate the opportunity to reduce fossil energy and switch to renewable energy. One of the efforts to improve long-term national energy security length is through reducing dependence on fossil energy, and the government must take swift action to use renewable energy. The methodology in this research uses internal factor evaluation analysis, external factor evaluation and SWOT matrix. Furthermore, the data used is secondary data in the period 2017–2022 coming from various official sources. The development of renewable energy in the world followed by the technology, more advanced technology used, the cost of investment and renewable energy tariffs will be cheaper, thus will be more competitive with electricity from fossil energy. Currently the installed power generation capacity in Indonesia is 57 gigawatts, of which 86% still use fossil energy and the remaining is renewable energy. Renewable energy in Indonesia becomes a very potent alternative, where the energy source depends on the geographical area and the source of energy it produces. The potential of renewable energy in Indonesia is very big, Indonesia has 40% geothermal potential in the world.
Penelitian ini dilatar belakangi dengan adanya permasalah independensi auditor, dimana independensi merupakan dasar kepercayaan pada profesi akuntan publik. Oleh karena itu, pemerintah sebagai pihak regulasi mengeluarkan peraturan berupa pembatasan pemberian jasa atau adanya rotasi audit. Tujuan dari penelitian ini adalah untuk menggali persepsi mengenai rotasi audit dari akuntan publik. Penelitian ini merupakan jenis penelitian kualititif dengan menggunakan metode fenomenologi. Hasil penelitian ini menemukan bahwa meskipun sudah ada regulasi pembatasan jasa audit akan tetapi tetap saja menimbulkan perilaku tricky dari akuntan dengan alasan ketergantungan ekonomi pada klien. Tetapi disatu sisi, independensi dalam melakukan jasa merupakan sesuatu hal yang penting yang harus dijaga dan dipelihara.
ANALYSIS OF TAXES PAYMENT, AUDIT QUALITY AND FIRM SIZE TO THE TRANSFER PRICIN...Mercu Buana University
This research is aimed to analyze the effect of tax, audit quality and firm size to an indication of transfer pricing in the manufacturing firm that listed in Indonesia Stock Exchange during the period 2010-2016. Independent variable in this research was tax payment, audit quality and firm size and dependent variable used is transfer pricing policy. This research used secondary data analysis of financial statements or annual reports of firms in Indonesia Stock Exchange. The population of this research is a manufacturing firm in the period 2010-2016. The research using purposive sampling method, the total amount of samples was 133 firms. This research used logistic regression analysis as an analytical method. The results of the analysis in the research showed that tax-effected and significant to an indication of transfer pricing. While auditing quality and firm size not significantly on an indication transfer pricing.
The Islamic Banking, Asset Quality: “Does Financing Segmentation Matters” (I...Mercu Buana University
Bank stability becomes one of the crucial pillars in maintaining economic growth. Therefore, the segmentation strategy is needed because it aims to improve the financial stability of the bank (decrease Non-Performing Loan-NPL / Non-Performing Financing-NPF). This study aims to determine the effect of segmentation on the quality of Islamic banks proxied with NPF. The method used is a quantitative method with multiple regression test and statistical tool Stata version 13. From the results of statistical data, it is known that the retail segment has a more significant influence than the wholesale segment, which is 92.61% and 56.05%. Therefore, sharia banks should have their business priorities in the retail segment, especially business in the microfinance segment by maintaining the quality of financing through selective financing channeling.
Potential Big Bath Accounting Practice in CEO Changes (Study on Manufacturing...Mercu Buana University
This Research aims to compare the earnings management which is big bath accounting model while CEO Changes in Indonesia. This research is using Secondary data which is Financial Statement from the Indonesian Stock Exchange. CEO change is classified either as routine or non-routine based on RUPS (General Shareholders Meeting) and RUPSLB (Extraordinary General Shareholders Meeting) information. The purposive sampling was used in this research by sampling 14 listed company of CEO Change non-routine and 34 listed company of CEO Change routine. These samples are observed from 2004 to 2014. To identify the big bath accounting practice. Although CEO Change non-routine made a high correlation in this study, the study provides there is no difference in earnings management big bath accounting model while CEO Changes between routine and non-routine changes.
The Challenges of Bad Debt Monitoring Practices in Islamic Micro BankingMercu Buana University
The study aims to assess and compare the monitoring procedures in two Bank Syariah Mandiri (BSM) branches located in Cengkareng and Duri Kosambi of West Jakarta city. The research implemented qualitative data analysis tools that consisted in to develop Focus group discussion (FDG) to obtain reliable and depth data related to monitoring practices among loan officers. Meanwhile, interviews were designed to the branch managers of each institution to determine their role in the NPF management. The study results divide into two parts: On the one hand, it highlights the standard monitoring procedures for the Non-performing financing (NPF) in Islamic micro banking and the main differences between conventional and Islamic in NPF management. On the other hand, the second result exposes three main key findings: First one, it confirms the importance of count on proper risk management for Islamic micro banking and harnessing of the sharia principles to maintain the quality of the portfolio. Second, the study reveals a correlation that exists among screening, monitoring, and enforcement, thus how a proper testing and supervision practices may affect in the following steps of the loan cycle. Finally the third one, it shows the impact of real leadership from the head manager in the performance of the institution.
Bad Debt Issues in Islamic Bank: Macro and Micro Influencing (Indonesia Cases)Mercu Buana University
The research aims to test the influence of the variables affecting Non-Performing Financing (NPF) in this case is Financing Debt Ratio (FDR), Capital Adequacy Ratio (CAR), Operational Expense Ratio against Operation Income (BOPO), Exchange Rate, Inflation and Real National Income (PDBR). The data analysis method used in this study is multiple regression. Regression analysis method, in addition to measuring the strength of the relationship between two or more variables, also shows the direction of the relationship between the dependent variable with the independent variable The result of processing obtained from the value of R2 adjusted equal to 0,362 which means variation or behavior of independent variable that is FDR, CAR, BOPO, Kurs, Inflation, and PDRB able to explain variations or the behavior of the dependent variable that is NPF equal to 36,2%. The rest is equal to 63,8% are variations or actions of other independent variables that affect the NPF but are not included in the model.
The purpose of this study is to determine the effect of financial distress, profitability, leverage, liquidity and firm size in going concern audit opinion. This research was conducted at Indonesia Stock Exchange (IDX) by accessing the website www.idx.co.id. The population in this study are all manufacturing companies listed on the Indonesia Stock Exchange (IDX) period 2012-2016. The number of manufacturing companies sampled in this research is 78 companies with observation for six years. Under purposive sampling method, the total sample of research is 390 sample. Hypothesis testing in this study using logistic regression analysis. Financial Distress results negatively affect going concern audit opinion; leverage has an adverse effect in going concern audit opinion, while profitability, liquidity, and firm size has no significant impact on going concern audit opinion.
The purpose of this study is to measure the impact of penetration of foreign banks in the Indonesian banking industry. The measured effects are limited to competition and efficiency during the years 2000-2011, during which was a recovery from the economic crisis in Indonesia. Panzar-Rosse measures the competition and Conjectural Variation approaches. The efficiency is measured by the Standard Profit Efficiency approach. By using panel regression method with SUR (Seemingly Unrelated Regression), we found that penetration of foreign banks will increase competition and efficiency of banking in Indonesia, especially to medium and small banks through spillover effect on domestic banking system. The increase in total assets, total loans and the amount of third party funds held by foreign banks in Indonesia will increase competition and efficiency of banks in Indonesia.
PENGARUH MOTIVASI DAN KOMPETENSI APARATUR TERHADAP KUALITAS INFORMASI AKUNTAN...Mercu Buana University
This research aims to identify and examine the effect of motivation and competence of personnel on the quality of accounting information of BMN in the Ministry of Manpower and Transmigration. The method used is descriptive and associative. Target population studied is Unit in the Ministry of Manpower and Transmigration. Sampling technique used is random sampling. Model influence analyzed using SEM analysis (Structural Equation Modeling) with alternative method PLS (Partial Least Square) which aims to examine the relationship and influence between motivation and competence of personnel working on the quality of accounting information of BMN in the Ministry of Manpower and Transmigration. The results of the analysis showed that the work motivation partially positive and significant impact on the quality of accounting information of BMN. Similarly, the competence of personnel that is partially positive and significant impact on the quality of accounting information of BMN. Simultaneously, work motivation and competence of personnel affects the quality of accounting information BMN this means that with good motivation and competent personnel also will produce accounting information BMN quality.
The Challenges of Microfinance Institutions in Empowering Micro and Small Ent...Mercu Buana University
This study aims to examine the challenges of microfinance institutions (MFIs) in empowering micro and small entrepreneur to concern and care not only for the business growth but also the environmental sustainability in their surroundings. Indonesia as developing countries also faces the environmental degradation that contributes by micro and small entrepreneurs. Moreover MFIs have substantial relationships in term to preserve the environment because of the objectives are not only achieve the profit but also balancing with the social (people) and environment (planet) achievement and MFIs clients also micro and small entrepreneur who as the majority contributor of environment degradation in developing countries. The discussion of the paper is determined by three research questions (i) What’s the role of MFIs in preserving the environment? (ii) How the role of corporate governance in MFIs? (iii) How the implementation of corporate governance in MFIs in empowering micro to implementing green activity (Indonesia evidence)? In addition, to ensure the commitment of MFIs should exist corporate governance, which supervise the compliance with Act No.1 2013 related to the sustainability concern from MFIs because until now the impact of the act has not given the significant impact yet because of the importance is not only the existence of regulation but also the consciousness all stakeholders related to comply and implementing of green activity.
In the case of Indonesia regarding capital sources in Islamic Banks, all Islamic Banks are subsidiaries of Conventional Banks (except Bank Muamalat). Bank Syariah Mandiri which is the only Islamic Bank that meets capital ownership with Business Category Bank Level III (BUKU III) is also a subsidiary of Bank Mandiri (conventional bank). In the same way, conventional banks become essential to meet the capital requirement to improve the business of Islamic Bank. This article aims to determine the role of capital and operating profit for business expansion (financing) in Bank Syariah Mandiri. The method used is the quantitative method by using statistical tool STATA version 13. The result of regression test is known that capital and profit have a significant influence in increasing financing expansion in Islamic Bank. Also, the price of the number of bad debts causes the lack of public confidence in the Islamic bank. The alternative to increasing the capital and public trust is government policies to support Islamic bank become independent.
The focus of this research is to explain whether investors prefer technical or fundamental analysis to analyze their investment options and to analyze factors influencing the selection of that investment analysis method. The research uses questionnaire with 125 participants. Six independent variables used to explain the choice of investment analysis method, namely investor’s education, investor’s experience, information accessibility by the investor, investor's time the horizon, trading activity frequency, and investor’s perception toward the disclosure done by the corporation. The result showed that Indonesian investors prefer technical analysis. The influencing factors that significantly the selection of analysis method are investor’s experience and investor’s time horizon.
The market share of Islamic banking in Indonesia has continually decreased from 4.89% in 2013 to 4.85% in 2014 and 4.83% in 2015. As a result, the idea to establish a single state owned Islamic Bank occurs. This conceptual paper aims to contribute the maslahah framework regarding the future of Islamic banks in Indonesia.
Women entrepreneurs have a positive contribution to the household economy in particular and the sustainable economic development in general. Nevertheless, there are limitations in mobility for women entrepreneurs, especially in Muslim countries to conduct their business activities outside the home, which was due to concern, to take care of their children, and the values or customs, which is embraced by the local community, so that limited mobility of women entrepreneurs, not because of the Islamic religiosity. Therefore, is requires form of technology solutions for women entrepreneurs, which can reduce, the limitations.
how to swap pi coins to foreign currency withdrawable.DOT TECH
As of my last update, Pi is still in the testing phase and is not tradable on any exchanges.
However, Pi Network has announced plans to launch its Testnet and Mainnet in the future, which may include listing Pi on exchanges.
The current method for selling pi coins involves exchanging them with a pi vendor who purchases pi coins for investment reasons.
If you want to sell your pi coins, reach out to a pi vendor and sell them to anyone looking to sell pi coins from any country around the globe.
Below is the contact information for my personal pi vendor.
Telegram: @Pi_vendor_247
1. Elemental Economics - Introduction to mining.pdfNeal Brewster
After this first you should: Understand the nature of mining; have an awareness of the industry’s boundaries, corporate structure and size; appreciation the complex motivations and objectives of the industries’ various participants; know how mineral reserves are defined and estimated, and how they evolve over time.
BYD SWOT Analysis and In-Depth Insights 2024.pptxmikemetalprod
Indepth analysis of the BYD 2024
BYD (Build Your Dreams) is a Chinese automaker and battery manufacturer that has snowballed over the past two decades to become a significant player in electric vehicles and global clean energy technology.
This SWOT analysis examines BYD's strengths, weaknesses, opportunities, and threats as it competes in the fast-changing automotive and energy storage industries.
Founded in 1995 and headquartered in Shenzhen, BYD started as a battery company before expanding into automobiles in the early 2000s.
Initially manufacturing gasoline-powered vehicles, BYD focused on plug-in hybrid and fully electric vehicles, leveraging its expertise in battery technology.
Today, BYD is the world’s largest electric vehicle manufacturer, delivering over 1.2 million electric cars globally. The company also produces electric buses, trucks, forklifts, and rail transit.
On the energy side, BYD is a major supplier of rechargeable batteries for cell phones, laptops, electric vehicles, and energy storage systems.
US Economic Outlook - Being Decided - M Capital Group August 2021.pdfpchutichetpong
The U.S. economy is continuing its impressive recovery from the COVID-19 pandemic and not slowing down despite re-occurring bumps. The U.S. savings rate reached its highest ever recorded level at 34% in April 2020 and Americans seem ready to spend. The sectors that had been hurt the most by the pandemic specifically reduced consumer spending, like retail, leisure, hospitality, and travel, are now experiencing massive growth in revenue and job openings.
Could this growth lead to a “Roaring Twenties”? As quickly as the U.S. economy contracted, experiencing a 9.1% drop in economic output relative to the business cycle in Q2 2020, the largest in recorded history, it has rebounded beyond expectations. This surprising growth seems to be fueled by the U.S. government’s aggressive fiscal and monetary policies, and an increase in consumer spending as mobility restrictions are lifted. Unemployment rates between June 2020 and June 2021 decreased by 5.2%, while the demand for labor is increasing, coupled with increasing wages to incentivize Americans to rejoin the labor force. Schools and businesses are expected to fully reopen soon. In parallel, vaccination rates across the country and the world continue to rise, with full vaccination rates of 50% and 14.8% respectively.
However, it is not completely smooth sailing from here. According to M Capital Group, the main risks that threaten the continued growth of the U.S. economy are inflation, unsettled trade relations, and another wave of Covid-19 mutations that could shut down the world again. Have we learned from the past year of COVID-19 and adapted our economy accordingly?
“In order for the U.S. economy to continue growing, whether there is another wave or not, the U.S. needs to focus on diversifying supply chains, supporting business investment, and maintaining consumer spending,” says Grace Feeley, a research analyst at M Capital Group.
While the economic indicators are positive, the risks are coming closer to manifesting and threatening such growth. The new variants spreading throughout the world, Delta, Lambda, and Gamma, are vaccine-resistant and muddy the predictions made about the economy and health of the country. These variants bring back the feeling of uncertainty that has wreaked havoc not only on the stock market but the mindset of people around the world. MCG provides unique insight on how to mitigate these risks to possibly ensure a bright economic future.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
What price will pi network be listed on exchangesDOT TECH
The rate at which pi will be listed is practically unknown. But due to speculations surrounding it the predicted rate is tends to be from 30$ — 50$.
So if you are interested in selling your pi network coins at a high rate tho. Or you can't wait till the mainnet launch in 2026. You can easily trade your pi coins with a merchant.
A merchant is someone who buys pi coins from miners and resell them to Investors looking forward to hold massive quantities till mainnet launch.
I will leave the telegram contact of my personal pi vendor to trade with.
@Pi_vendor_247
where can I find a legit pi merchant onlineDOT TECH
Yes. This is very easy what you need is a recommendation from someone who has successfully traded pi coins before with a merchant.
Who is a pi merchant?
A pi merchant is someone who buys pi network coins and resell them to Investors looking forward to hold thousands of pi coins before the open mainnet.
I will leave the telegram contact of my personal pi merchant to trade with
@Pi_vendor_247
how can I sell pi coins after successfully completing KYCDOT TECH
Pi coins is not launched yet in any exchange 💱 this means it's not swappable, the current pi displaying on coin market cap is the iou version of pi. And you can learn all about that on my previous post.
RIGHT NOW THE ONLY WAY you can sell pi coins is through verified pi merchants. A pi merchant is someone who buys pi coins and resell them to exchanges and crypto whales. Looking forward to hold massive quantities of pi coins before the mainnet launch.
This is because pi network is not doing any pre-sale or ico offerings, the only way to get my coins is from buying from miners. So a merchant facilitates the transactions between the miners and these exchanges holding pi.
I and my friends has sold more than 6000 pi coins successfully with this method. I will be happy to share the contact of my personal pi merchant. The one i trade with, if you have your own merchant you can trade with them. For those who are new.
Message: @Pi_vendor_247 on telegram.
I wouldn't advise you selling all percentage of the pi coins. Leave at least a before so its a win win during open mainnet. Have a nice day pioneers ♥️
#kyc #mainnet #picoins #pi #sellpi #piwallet
#pinetwork
The secret way to sell pi coins effortlessly.DOT TECH
Well as we all know pi isn't launched yet. But you can still sell your pi coins effortlessly because some whales in China are interested in holding massive pi coins. And they are willing to pay good money for it. If you are interested in selling I will leave a contact for you. Just telegram this number below. I sold about 3000 pi coins to him and he paid me immediately.
Telegram: @Pi_vendor_247
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
Challenges Sharia Microfinance Institutions: Evidence from Indonesia
1. http://www.ojs.unito.it/index.php/EJIF 1
Challenges Sharia Microfinance Institutions:
Evidence from Indonesia
a
Bank Syariah Mandiri, Wisma Mandiri I, MH Thamrin Road No.5, Jakarta, Indonesia.
.
Abstract—Microfinance institutions and Islamic microfinance
institutions that do not have a body would be transformed into
cooperatives (Coop) or shareholder firms (SHFs) company under
the act No.1 of 2013 (UU No.1 Tahun 2013) regarding
microfinance institutions. One of Islamic microfinance
institutions for being Baitul Mal Wa Tamwil (BMT) that
currently a majority of non-governmental organizations are
required to transform to become more professional, and should
be answer the challenge in the future. In this literature review
there are some challenges for BMT to be transformed and can be
exist in future. The challenges of BMT, are what the microfinance
market that also relevant to the Islamic perspective will be needed
in future. This literature review is limited by three questions, (i)
What is the purpose of BMT?, (ii) What are the challenges of
BMT in the future?, (iii) What are the advantages BMT
incorporated in?.
Keywords: Islamic micro finance, the act No.1 of 2013 regarding
microfinance institutions, Baitul Mal Wa Tamwil, Transformation,
Microfinance challenges, Islamic perspective.
JEL classification: G02, G14, G21
1. INTRODUCTION
1.1. Background
Issuance the Act (UU) No.1 Year 2013 on microfinance
institutions will certainly have an impact on changes in the
shape and condition of Indonesian microfinance institutions
including Islamic microfinance institutions in the future,
because the Act requires microfinance institutions have legal
entities or shareholder firm and also the operations of
microfinance institutions will be supervised by the financial
services authority. Currently there are still many microfinance
institutions, particularly Islamic microfinance institutions that
do not have a legal entity, IE Baitul Mal Wa Tamwil (BMT)
which amount 60% of the total BMT (Republika Online.com,
December 15, 2010). The number of BMT to June 2012 is
estimated at 5,500 units (Republika Online.com, June 28,
2012), and if 60% of BMT has not been incorporated in the
amounted to 3,300 units and 2,200 units remaining BMT
incorporated cooperative.
Based on the goal of microfinance institutions have the
function of providing financial services to low income
communities not served by banks (unbankable) (Armendariz
and Labie, 2011). While the definition of microfinance is to
provide financial services to people who have limited access to
banking services. The financial services are; financing or
credit, savings, remittances and insurance (Karlan and
Golberg, 2011). However, the implementation and operation of
microfinance institutions get the challenge of mismatch
between the needs of low-income people with products offered
by microfinance institutions (Armendariz and Labie, 2011).
Besides that microfinance institutions should protect all clients
(savers) to run its operations based on prudential principles by
Christen et al. (2003).
Under these conditions, how can Islamic microfinance
institutions can meet the challenges of mismatch and protect
all its customers in order to implement the Act No.1 of 2013?.
1.2. Limitation of Research
A lot of BMT is still not incorporated in. Based on Act No.
1 of 2013, the BMT that does not have a legal entity shall be
transformed into cooperatives or SHFs. Then the limitation of
this study is how the transformation process BMT be
incorporated in to meet the needs of low-income communities
(the challenge of microfinance institutions) and in order to
keep operations running the prudential principles.
1.3. Objectives and Contributions
Goals and contribution of this study is to provide input for
Islamic microfinance institutions (BMT) in order to survive in
the future. BMT is also expected to play an active role in
creating wealth evenly throughout society by enforcing Sharia
(Islamic law) in order to achieve the economic goals of Islam.
Definition of the purpose of Islamic economics or maqashid
Shari'ah is to create maslahah Ummah who became one of the
important pillars of the economy and business in sharia. It is
also narrated in a hadith by Musnad Shihab, Hadith no. 1234
as follows:
"The best man is the most useful for others."
Lucky Nugrohoa
2. EJIF – European Journal of Islamic Finance No1,Dec (2014)
http://www.ojs.unito.it/index.php/EJIF 2
2. RESEARCH METHODOLOGY
The research method is based on a qualitative research, The
framework of this research is defined by research questions as
follows:
What is the purpose of BMT?
What are the challenges of BMT in the future?
What are the advantages BMT incorporated in?
3. ANALYSIS
3.1. The purpose of Islamic Microfinance Institutions
The Characteristics of microfinance institutions, there have
two roles, the first function is related to financial
(commercial) and second as a social function (Hudon, 2011).
Microfinance institutions aim is not always to maximize profits
(Copestake, et al., 2005) but its main purpose is to provide
access services to low-income people who cannot be served by
banks (Morduch, 1999).
BMT is micro-finance institutions that carry out activities
based on Islamic principles. The main factor underlying the
establishment of BMT is the desire to run an economic system
that is based on the values and principles of Islamic justice
which aims to distribute free from all forms of exploitation. In
addition, the role and function of BMT is to develop human
resources and to support micro and small entrepreneurs as well
as a viable potential (Holloh, 2001). Roles and tasks BMT as
follows:
1) Help identify needs and business opportunities.
2) Help plan and provide business consulting.
3) Mobilizing funds from the public.
4) Provide and facilitate access to financial services and
marketing channels.
5) Disseminate information and provide training.
In connection with this, the BMT is a form of Islamic
microfinance institutions whose roles and functions in
accordance with khittah (basic concepts) microfinance
institutions. Therefore the existence of BMT in the future is
indispensable in improving the welfare of society.
3.2. Challenges for the Future BMT.
Developments and changes in the needs of low-income
people is a challenge for BMT to fulfill. According Mersland
and Storm (2012) microfinance institutions must innovate to
meet the needs of low-income people so that the characteristics
and objectives of microfinance institutions is maintained.
However, microfinance institutions as a going concern entity
must and should be transformed from idealism into business
activities (commercial). The transformation is necessary
because there are new clients who require access to affordable
microfinance and microfinance institutions must maintain the
continuity of its financial condition. Innovations required by
microfinance institutions, according Mersland and Storm
(2012) are as follows:
1) Making low-income communities as a target
Service banking products also provide finance or
micro-credit services to low-income communities.
However, there are still many low-income people who do
not bankable but has potential and deserves to be given
micro-finance. Based on that microfinance institutions
can develop products according to the conditions in each
area. In the Qur’an there are lots of explicit statements
related to the poverty alleviation and the solutions to it,
few of statements as follows:
a. Al Insaan verse 8 says “And they give food in
spite of love for it to the needy, the orphan, and
the captive”.
b. Al Baqarah verse 177 says “Righteousness is not
that you turn your faces toward the east or the
west, but [true] righteousness is [in] one who
believes in Allah , the Last Day, the angels, the
Book, and the prophets and gives wealth, in spite
of love for it, to relatives, orphans, the needy, the
traveler, those who ask [for help], and for freeing
slaves; [and who] establishes prayer and gives
zakah; [those who] fulfill their promise when
they promise; and [those who] are patient in
poverty and hardship and during battle. Those are
the ones who have been true, and it is those who
are the righteous”.
c. Al Anfal verse 41 says And know that anything
you obtain of war booty - then indeed, for Allah
is one fifth of it and for the Messenger and for
[his] near relatives and the orphans, the needy,
and the [stranded] traveler, if you have believed
in Allah and in that which We sent down to Our
Servant on the day of criterion - the day when the
two armies met. And Allah, over all things, is
competent”.
Related to the issues of poverty alleviation in the
Islam and the target from the Microfinance
institutions to serve low income people, it's very
relevant to become low income people as a target in
an Islamic microfinance institution.
2) Making women as targets
Why women were subjected to micro-finance for the
following matters:
a. Gender equality, of course, in the teachings of
Islam recognize the equal rights of men and
women, regardless the nature of men and women
have differences.
b. Poverty alleviation, by empowering women to
manage the household finances will add to the
household income so that their household can
live more prosperously.
c. Efficiency, because the women who manage the
finances and men who generate income (the
division of the finance function in the
household), then women can control their
household expenses and arrange installment
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payments to microfinance institutions in a timely
manner.
According to Suratmi et. Al (2011) is based on of
Islamic sharia either in the Qur'an or hadith, does not
forbid women to work in the public domain. Men and
women can work in both inside and outside the house
and in any suitable field, which needs to be done in
order to survive. But in Muslim developing countries,
many women like and bound to stay at home.
Moreover, there is no condition stating firmly that
only men can be a public leader. There is some Quran
verse that says men are more capable physically and
intelligent than women.
However, if there are women as responsibilities to
his family (children) feel more secure when they stay
at home and avoid public activities. As well, if the
daily lives of men are more opportunities than women
in public activities (political, economic, etc.) That is
not related to Islamic sharia, but because of the
perception and habits of the local population. Based
on these perceptions, women as target in the Islamic
microfinance institution also very relevant to be
implemented.
3) Developed a variety of methods in channeling financing to
low-income communities
Identical micro financing by requiring collateral to
clients who ask financing. It cannot be applied to
microfinance institutions whose goal is to serve low-
income people who in fact have limited collateral. Under
these conditions, microfinance institutions need to
innovate the methods of financing products and their
features, such as group lending models are commonly
called joint responsibility, provide financing with a short
term (tenor), incentives, etc. These innovations must be
adjusted to the characteristics of local communities.
4) Doing organizational changes
Microfinance institutions to provide guidance and
supervision to the customers, but who is doing the
coaching and supervision of microfinance institutions?.
Initiatives and new paradigms non governmental
Organizations (NGOs) in the world who care about
poverty to transform the organization into a company
whose shares are owned by the public (SHFs or
cooperatives) as an example Prodem NGO in Bolivia
changed to Banco Sol in 1992 (Von Pischke, 1996). The
impact of these changes is to be more efficient because
the organization runs its operations obedient
(governance) that are caused by external guidance and
supervision.
BMT as traditional organization, along with the
growing number of BMT is followed by the emergence
of various problems. This happens due to the absence of
legal rules governing the protection and guarantee
customer funds BMT. "We have grown a lot since BMT
founded it easy. BMT alone is the domain of medium to
society. But in many cases that come his way as
embezzlement of customer funds by the board.
Related to the issues of customers' protection in
Islamic microfinance, the organizational changes to be
more professional is very important to be carried out in
Islamic microfinance.
5) Looking for new sources of funding
Microfinance institutions where it has been
transformed into incorporated in may seek new sources
of funding in a way; raise money by issuing shares,
collect deposits from the public, and loans from other
financial institutions. To serve low-income communities
with a wide range, Islamic microfinance also require new
funding not only from investors, donors, creditors, but
also Islamic microfinance institutions have the
opportunity to distribute zakat to the poor according to
the criteria of sharia law.
6) Environmentally friendly
The originality of microfinance objective, it's to
achieve the double bottom line. That is mean
microfinance institutions are mindful not only about
financial performance, but also by social indicators.
Econometric analysis is used to assess financial
performance, and guidance is provided for extending the
analysis of social performance indicators or MFIs have a
double aspect: financial and not-for-profit. It is, therefore,
appropriate to assess their performance by means, not
only of financial ratios, but also by means of social
indicators. (Frank, 2008; Armendariz and Labie, 2011;
Hudon, 2011; Stuart, 2011; Balkenhol and Hudon, 2011;
Cinca et al, 2011). But why should microfinance should
concern in environmental bottom line? Allet (2013)
mention the clients of MFIs should be responsible for
climate change because they have an impact on the
environment.
The clients of MFIs have contributed in major
environmental risk like chemical pollution, solid and
liquid wastes, pollution emissions, inefficient production
processes (energy-consuming, waste-producing), and
degradation of natural resources. Regarding this risky,
there are environmental issues in the community, such as
health and sanitary issues, economic consequences, risk
of conflicts, increased vulnerability and food security.
Associated in this condition the donors in MFIs and the
experts in this field, believed MFIs has capacity to
involve in environmental concern in their activities to be
third bottom line or additional from the original MFIs
objective double bottom line, the triple bottom line
element that consist of financial performance, social
performance and environmental performance (Copestake,
2007; Green Microfinance, 2007; Van Elteren, 2007;
FMO, 2008; Schuite and Pater, 2008; Rippey, 2009;
Agier and Szafarz 2013). We believe green microfinance
activities will be significant contribute to anticipate the
impact of climate change for livelihood, because of the
small scale activities in developing countries has the
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threat of environmental destruction (Allet, 2013), and
MFIs as the institution directly contact with the
grassroots community.
Addressing in this condition, the services of MFIs
could be as intermediaries, and have the opportunity for
the dissemination of environmental awareness-raising
information (Hall et al, 2008; SEEP Network, 2008). In
line with this issue, Kaushal et.al (2005) also mentions
that microfinance has a positive impact on the
environment, because of there is a positive link between
access to micro credit and forest regeneration in 27
Indian villages.
In the sharia perspective, environmental friendly also as
crucial issues, the Quran was mention about the human
activity should be not harmful for the environment. The
connection between the Qur’an and environmental issues
as follow:
a. Al-A’raf verses 56 says “And cause not
corruption upon the earth after its reformation.
And invoke Him in fear and aspiration. Indeed,
the mercy of Allah is near to the doers of good”.
b. Ar-Ruum verses 41 says “Corruption has
appeared throughout the land and the sea by
[reason of] what the hands of people have earned
so He may let them taste a part of [the
consequence of] what they have done that
perhaps they will return [to righteousness]”.
Based on the issues mentioned above, the process of
transformation of BMT shall consider what innovations
are needed in accordance with the conditions and needs of
the communities in which BMT operates.
3.3. Advantages of BMT transformed into Incorporated
Based microfinance policy report reveals that most say that
the ownership of publicly owned institutions (cooperatives or
SHFs) has many advantages over non-governmental
organizations or non-governmental groups (NGOs / CBOs).
NGOs weakness is less commercial and professional due to the
absence of the owner who monitor management (Chavez and
Gonzalez - Vega, 1994; Berenbach and Churchill, 1997;
Greuning et al, 1998; . Staschen, 1999; Christen and
Rosenberg, 2000; C - GAP, 2003; Holden et al, 2003;. Jansson
et al, 2004). The implicit message is that the benefits of
microfinance institutions that are owned by the people can run
its operations better and be able to access more funds to be
more efficient than the NGOs.
This is also consistent with the concept of sharia (sharia
Enterprise Theory) which has a social responsibility.
According Sudarma et.al (2010) social responsibility
disclosure in Islamic entity is as follows:
1) Disclosure of social responsibility is a form of
accountability to God and man intended to derive
legitimacy from God as the ultimate goal.
2) Social responsibility disclosure must have a purpose as a
means of providing information to all stakeholders (direct,
indirect and natural) in relation to how far the agency has
fulfilled its obligations to all stakeholders. It is as part of
efforts to meet accountability for human.
3) The existence of social responsibility disclosure is
mandatory, views of Islamic microfinance institutions
function as an instrument to realize the objectives of
Shariah. Social responsibility reports would be a report
that will complement the interests of all parties that have
been neglected in modern accounting systems.
4) Social responsibility disclosure must include the material
and spiritual dimensions associated with the interests of all
stakeholders.
5) Consideration of the public interest (mashlahah) will be
the basis of the disclosure.
6) Social responsibility disclosure should contain qualitative
and quantitative information.
Based on the above, the concept of Islamic financial
institutions also supports transparency, which led the
organization to be more efficient because the management of
BMT will receive guidance and direct supervision by the
stakeholders, which consists of: the government, the owners,
the public, etc.
4. CONCLUSIONS AND RECOMMENDATIONS
4.1. Conclusions
Based on the results of the qualitative analysis
concluded the following matters:
1) Issuance of act No. 1 of 2013 on microfinance
institutions has a positive impact on microfinance
institutions and in particular for the BMT is currently
incorporated in.
2) The positive impact of BMT is more professional and
efficient in carrying out its operation.
3) BMT as Islamic microfinance institutions that have a
social and commercial purposes must be able to
transform to adjust to the needs of the community in
the future.
4) BMT is an Islamic microfinance institutions that are
characteristic of the Indonesian nation and not
exclusive, open to the whole Ummah not just
Muslim Ummah.
5) The Government shall support and supervise the
existence of BMT in order to succeed the poverty
alleviation program.
6) With the guidance and supervision of the interested
parties, the BMT is gradually implementing
prudential principles. Under these conditions, the
safety of the public or customers in financial
transactions in BMT protected.
7) Improve the reputation of BMT in the country and
even on an international scale, if the transformation
process had a positive impact on economic growth
and poverty reduction.
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4.2. Recommendations
All stakeholders associated with this change must be
mutually supportive for the good of humanity, so that the
managers of BMT are not incorporated in does not have a
prejudice against the issuance of act no. 1 In 2013, while
government officials associated with the administration of the
establishment and operation licenses provide a convenience
(cost and bureaucracy), as well as the guidance and supervision
of the presence of those who are competent in their field.
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7. EJIF – European Journal of Islamic Finance Editorial Team
Editor in Chief
Prof. Paolo Pietro Biancone, University of Turin, Italy
Editorial Board
Prof. Dian Masyita, University of Padjadjaran, Indonesia
Prof. Abdulazeem Abozaid, Qatar Faculty of Islamic Studies – Qatar
Prof. Ahmad Aref Almazari, King Saud University, Saudi Arabia
Prof. Nidal A. Alsayyed, Inayah Islamic Finance Research Institute, USA
Prof. Roberta Aluffi, University of Turin - Italy
Prof. Ghassen Bouslama, NEOMA Business School - Campus de Reims, France
Prof. Nazam Dzolkarnaini, Salford University, UK
Prof. Kabir Hassan, University of New Orleans, USA
Prof. Khaled Hussainey, University of Plymouth, UK
Prof. Rifki Ismal, University of Indonesia
Prof. Tariqullah Khan, Hamad bin Khalifa University, Qatar
Prof. Ali Khorshid, ICMA Centre Reading University - UK
Prof. Amir Kia, Utah Valley University, USA
Prof. Laurent Marliere, Université Paris-Dauphine France
Prof. Federica Miglietta, University of Bari - Italy
Prof. Hakim Ben Othman, University of Tunis - Tunisia
Prof. Mohamed Ramady, King Fahd University of Petroleum and Minerals, Saudi Arabia
Prof. Mamunur Rashid, Nottingham University, Malaysia
Prof. Younes Soualhi, International Islamic University Malaysia
Prof. Laurent Weill, University of Strasbourg, France