Vol. IV, No. 2, Desember 2010

Editorial La_Riba Vol. 4, No. 2, Desember 2010

Banyak pihak yang menilai perkembangan ekonomi Islam di Indonesia kurang menggembirakan. Hal ini antara lain diindikasikan dari masih sulitnya perbankan syariah, sebagai representasi ekonomi Islam, menembus pangsa pasar psikologis 5% dari total aset perbankan nasional. Namun demikian, sejatinya perkembangan ekonomi Islam tidak selayaknya hanya disematkan pada perkembangan perbankan syariah, mengingat sejumlah perkembangan di bidang lainnya juga penting untuk diperhatikan. Perkembangan global yang kini terjadi juga secara langsung memperbesar peluang bagi perkembangan ekonomi Islam.

Krisis keuangan global sebagai buah dari penyakit kronis dalam kapitalisme telah membuka jalan bagi banyak pihak untuk meninjau kembali sistem ekonomi yang menguasi dunia modern ini dan mencoba mencari alternatifnya. Ekonomi Islam sebagai sebuah sistem ekonomi yang telah lama ada dan pernah berjaya, tentunya menyimpan potensi untuk muncul kembali sebagai solusi bagi umat manusia. Wujud dari makin diterimanya ekonomi Islam selain mendapat momentum berupa krisis keuangan global juga beranjak dari makin aktifnya promosi produk-produk keuangan berbasis ekonomi Islam yang diakui lebih stabil dan menjanjikan, seperti sukuk dan lain sebagainya. Untuk itu, sudah selayaknya umat Islam juga terus ikut memperhatikan perkembangan yang ada sekaligus menangkap peluang demi kemajuan di masa mendatang.

Dalam rangka menangkap berbagai perkembangan ekonomi Islam ini redaksi Jurnal La_Riba mengangkat topik “Ekonomi Islam Multidimensi” untuk edisi kali ini. Sejumlah tulisa dengan beragam subtopik kajian masuk ke meja redaksi dan beberapa diantaranya disajikan dalam edisi ini. Kajian tentang sukuk ditulis oleh Nur Kholis dengan judul “Sukuk: Instrumen Investasi yang Halal dan Menjanjikan”, dan oleh Mohammad Agus Khoirul Wafa yang berjudul “Analisa Faktor-faktor yang Mempengaruhi Tingkat Permintaan Sukuk Ritel-I (Periode Maret 2009-Juni 2010)”.

Kajian lainnya yaitu “Prospek Pengembangan Ilmu Ekonomi Islam di Indonesia dalam Prespektif Filsafat Ilmu (Sebuah Kajian Epistemik)” ditulis oleh Ayief Fathurrahman, “Model Pelaksanaan CSR Bank Syariah: Kajian Empiris Pembiayaan Mikro Baitul Mal Aceh” hasil kajian Muhammad Yasir Yusuf, serta “Ketahanan Kredit Perbankan Syariah Terhadap Krisis Keuangan Global” yang merupakan tulisan Ihda A. Faiz. Selain itu, terdapat juga tulisan Rahmani Timorita Yulianti yang berjudul “Transparansi Anggaran: Suatu Upaya Efisiensi dan Antisipasi Korupsi di Indonesia”.

Hasil penelitian juga disajikan yaitu oleh Soya Sobaya dengan judul “Pengaruh Jaringan Kerja BNI Terhadap Efektifitas Zakat Produktif (Studi di Baitul Mal Umat Islam BNI)”. Tulisan terakhir berupa “Isu Terkini Industri Perbankan dan Keuangan Islam Asia Tenggara”, merupakan Book Review tulisan Yuli Andriansyah. Redaksi akan mengangkat topik “Menyiapkan SDM Andal Bidang Ekonomi Syariah” pada edisi mendatang dan mengundang para pakar, pegiat, peneliti, dan akademisi bidang ekonomi Islam untuk ikut menyumbangkan pemikiran dan penelitiannya. Semoga apa yang kami persembahan pada edisi ini ikut terus menumbuhkembangkan ekonomi Islam di negeri ini.

Redaksi

Daftar Isi La_Riba Vol. 4, No. 2, Desember 2010

Sukuk: Instrumen Investasi yang Halal dan Menjanjikan

Nur Kholis

Abstract

This article is aimed to analyse the development of Sukuk (Islamic bond) in Indonesia. From historical perspective, sukuk had been implemented in medieval Islam as financial tranfer tools in commerce and other activities. In modern context, sukuk has worldy known as sharia financial instrument that give its holders right of ownership of specific asset, advantage value, and ownership of asset in investment of project. Sukuk are now created also by a government, which is available for personal investors (retail sukuk) as government sharia bond in both Rupiah or foreign currencies. Sukuk has been a promising sharia-based investment instrument mainly because of government assurance and low risk. It is therefore a chance for Moslems in Indonesia to invest their assets in this financial instrument for its compliance with sharia and benefecial function for country development.

Keywords: sukuk ritel, obligasi negara, investasi syariah.

Analisa Faktor-faktor yang Mempengaruhi Tingkat Permintaan Sukuk Ritel-I (Periode Maret 2009-Juni 2010)

Mohammad Agus Khoirul Wafa

Abstrak

Sukuk has been popular topic of study among investors and researchers from 2009 until now. This study is aimed to oversee the correlation and the influence of banking deposit interest rates, the level of revenue sharing of banking deposits, Sukuk State Retail price on the level of demand for state retail sukuk, and other bond prices to the level of demand of Islamic Retail Goverment Bond. The coherent time used in this study is data from March 2009 until June 2010. From the analysis of data using VAR methods, this study found that partially each independent variable has a significant effect on the level of demand for retail government sukuk. The result strengthens the hypothesis that jointly each independent variable has significant influence on the secondary market demand for sukuk. The sharia instruments have potential strength to affect the demand of retail sukuk bigger than the conventional ones.

Keywords: Islamic Retail Government bond, Islamic Investment, Islamic Investment, Theory on Demand

Prospek Pengembangan Ilmu Ekonomi Islam di Indonesia dalam Prespektif Filsafat Ilmu (Sebuah Kajian Epistemik)

Ayief Fathurrahman

Abstract

This article describes the approaches recently being used in developing Islamic Economics, especially in Indonesia. Eventough it grows rapidly in recent years, Islamic economics is still banded by dominance of normative approach. Some reasons can be addresed to this issue mainly the lack of proper approaches in Islamic economics. In order to make Islamic Economics regarded as a proper scientific discipline, it requires more approaches based on rational and empirical studies not only based on theological beliefs of moslem. In its recent development, burhani approach is not still functioned optimally. Therefore, combination of bayani, irfani, and burhani approaches in developing Islamic Economics is an obligated concept.

Keywords: Filsafat Ilmu, Ekonomi Islam, Nalar Islami

Model Pelaksanaan CSR Bank Syariah: Kajian Empiris Pembiayaan Mikro Baitul Mal Aceh

Muhammad Yasir Yusuf

Abstrak

Corporate social responsibility (CSR) is a corporate commitment to participate in sustainable economic development in order to improve the quality of life and environment that will benefit for all stakeholders. The focused issue discussed in this paper is how Islamic CSR model should be used to carry out in shariah banking? This study uses two approaches of literature and empirical studies at the Baitul Mal Aceh. The implementation of Islamic CSR model in shariah banking should be creating in two models: firstly to maximize the management of CSR funds productively with the form of micro-financing for community and secondly to maximize utilization of existing social capital in every society around Islamic bank. The models are based on maqasid Shari‘ah (the Shari‘ah’s objectives) and maslahah (the public good). Implementing CSR on Islamic banking not only provides a positive image for corporate but also became one of a tool to reduce poverty in Indonesia.

Kata Kunci: CSR, Bank Syari’ah dan Pembiayaan Mikro

Ketahanan Kredit Perbankan Syariah terhadap Krisis Keuangan Global

Ihda A Faiz

Abstract

Global financial market becomes fragile and unstable today after big financial crisis (subprime mortgage) hited almost country around the world. Recently, solvability ratio or credit risk becomes focus study again by economic expertise to prevent repreated crisis. The purpose of this paper is to investigate Islamic credit resistant of Islamic banks during global financial crisis in Indonesia. The results of this study show that the amount of Islamic financing and GDP were significantly determined by non-performing financing (NPF). In the other side, conventional banks were influenced positively by inflation rate and Loan to Deposit Ratio (LDR). These findings show the empirical evidence how Islamic banking and economic systems can reduce the effect of global financial crisis significantly to domestic society.

Keywords: NPL, NPF, banking stability

Transparansi Anggaran: Suatu Upaya Efisiensi dan Antisipasi Korupsi di Indonesia

Rahmani Timorita Yulianti

Abstract

Budget transparency is believed to be able to develop an effective, efficient, and corruptionfree organization system. Implementing it will enable an organization to erase any unnecessary budget. A more transparent budget also implies stakeholders’ consultation in every step of budgeting to eliminate all sources of manipulation and corruption. In Indonesia marking up budget by posting some irrelevant and fictive activities is still commonly happening. It has been part of commonly used way to corrupt. Based on these situations, this paper will discuss how budget functions and principles, Islamic base value for budgeting, and how controlling system on budget should be implemented in order to efficiently anticipate corruption.

Keywords: transparansi, anggaran, efisiensi, korupsi

Pengaruh Jaringan Kerja BNI Terhadap Efektifitas Zakat Produktif (Studi di Baitul Mal Umat Islam BNI)

Soya Sobaya

Abstrak

The aim of this research is to analyze the network management of zakat institution and to oversee its rule to implement productive zakat efficiently. Research method implemented is field research with quantitative approach using statistical analysis. The research was conducted in Baitul Mal Umat Islam or BAMUIS of BNI Sharia. Effectiveness is analyzed as dependent variable and network collectability as independent variable. The data was obtained through the interview and observation. The conclusion of the research suggests that BAMUIS network using human resources in each BNI Sharia offices as channeling agent is monitored quarterly. Besides that, intensive communication as evaluation and silaturrahim tool are also implemented. BAMUIS also interact with sharia partners as a commitment to operate in sharia basis. Network also indicates a good impact on collectability or in other word optimizing network can maximize productive zakat benefits.

Kata kunci: efektifitas, jaringan kerja, kolektibiitas, zakat produktif

Book Review Isu Terkini Industri Perbankan dan Keuangan Islam Asia Tenggara

Yuli Andriansyah

Dalam kaitannya dengan keuangan Islam dewasa ini, wilayah Asia Tenggara dapat disebut sebagai rumah produksi bagi keahlian dan inovasi (powerhouse of skills and innovation). Adapun wilayah Timur Tengah terutama negara Teluk biasa dianggap sebagai sumber likuiditas (pool of liquidity) (vii). Demikian antara lain diungkap Majid Dawood, CEO dari Yasaar Limited, yang bermarkas di Dubai, Uni Emirat Arab pada pengantar buku berjudul Current Issues in Islamic Banking and Finance: Resilience and Stability in the Present System. Buku yang diedit oleh Angelo M. Venardos ini memang secara komprehensif berusaha memberikan gambaran perkembangan perbankan dan keuangan Islam yang makin berkembang di Asia Tenggara sebagai titik tekan utama ditambah perkembangan di Jepang dan Amerika Serikat.

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