Pandangan Hukum Islam terhadap Status Muflis (Debitur Pailit) sebagai Gharimin (Mustahik Zakat)

The development of sharia economy in Indonesia is increasing. Islamic economic development can be seen from the development of Islamic financial institutions and the Islamic financial instruments they offer, ranging from Islamic banks, Islamic capital markets, and Islamic insurance. With these developments, nowadays financing activities with sharia contracts are increasing and growing rapidly. However, only a few can pay it off. In other words, non-performing financing or bad loans at Islamic financial institutions often occur. Non-performing financing caused by the inability of the customer as a debtor to pay debts to a financial institution as a creditor resulted in the customer being bankrupted by the financial institution as a creditor. Bankruptcy is defined as the inability of the debtor or debtor (can be a person, legal entity, company) which is proven based on a court decision that the debtor has stopped paying his debts (unable to pay off debts) which results in general confiscation of his assets, so that the debtor is no longer entitled to manage his assets. . If it is associated with zakat, one of the ashnaf of zakat is gharimin or people who are in debt. Zakat institutions in Indonesia have not made bankrupt customers as gharimin who are entitled to receive zakat. The formulation of the problem in this paper is to find out the views of Islamic law on the status of bankrupt debtors as gharimin. The conclusion is that the status of a bankrupt debtor can be determined as a gharimin who is entitled to receive zakat. The use of debt in question can be for personal or public interest. The distribution pattern can use the qardh hasan pattern where the zakat given to the gharimin is not to be owned but to be returned again. The zakat funds are not only used to pay off debts, they can also be used as initial capital for bankrupt debtors to restart their business. Keywords: bankrupt debtor, gharimin, zakat mustahik.

Bahaya Riba Qardh dan Alternatif Akad Qardh Sebagai Solusi dalam Lembaga Keuangan Syariah

This paper will discuss the dangers of riba qardh and will also lead to alternative qardh contracts as a solution in Islamic financial institutions. Most people already know that usury is forbidden in Islam. And not a few people know that usury has a harmful negative impact on the perpetrator and others. And what the author will discuss now is the danger of qardh usury. That is a borrowing and borrowing contract that is added with shrouded usury. And alternative qardh contracts as a solution to avoid the impact of the dangers of qardh usury in Islamic financial institutions.

Analysis of the Effect of Sharia Compliance and Islamic Corporate Governance on Fraud in Islamic Banks in Indonesia 2017-2019

This study aims to analyze the factors that influence the occurrence of fraud in Islamic banks in Indonesia. Measurement of fraud in Islamic banks is based on the number of internal frauds that occur in the financial year. The population in this study is Islamic banks in Indonesia for the period 2017-2019. The sample is selected using purposive sampling method and the number of samples obtained is 24 samples. The data used in this study are secondary data in the form of financial reports and corporate governance reports. Data analysis is performed using classical assumption tests and regression analysis. The results of this study indicate that Islamic corporate governance has a significant effect on internal fraud in Islamic banks in Indonesia. Meanwhile, partially the profit sharing ratio and Islamic investment ratio do not have a significant effect on internal fraud in Islamic banks in Indonesia. Islamic banking must comply with accounting standards and Auditing Organizations for Islamic Financial Institutions (AAOIFI) to minimize fraud in operations.

Editorial Notes: Issues in Islamic Economics, Banking and Financial Institutions during the Covid-19 Pandemic

In this second issue of the 2021 edition, we mostly received manuscripts discussing the challenges of Islamic Banking and Financial Institutions (IBFIs) within the Covid-19 pandemic. Specifically, they discuss various topics within the field, such as institutional and employees' performances, financial stability, waqf institutions, the trend of Islamic economics research, and the relevance of Islamic economics and finance essential components to the modern economy. Approaching the publication deadline, only ten were accepted out of the dozen manuscripts that were reviewed. Nine were ready for publication, while the rest still needed quality improvements. As for the process, each manuscript will have to pass an initial review from our editor(s) before forwarding it to suitable reviewers. Some manuscripts would have to go through several rounds before being accepted. The reviewers' feedback was taken into consideration to provide the final decisions. Following that, the manuscripts would have to pass the editing stages, including proof-reading and layout, where our editor(s) will intensely communicate with the authors if needed. It is to ensure that each published manuscript has undergone a quality check. Interestingly, of the published articles, five of them discuss the performance issues in Islamic financial institutions, whilst the rest discuss Islamic economics and financial matters in other topics ranging from waqf institutions, the trend of Islamic economics research, to the relevance of Islamic economics and finance essential components to the modern economy. Please check the PDF file for detailed information.

The Role of Islamic Finance in Achieving Sustainable Development in Libyan Institutions

This paper aims to study Islamic financing formulas in terms of their impact on achieving sustainable development, and alerting points of influence and distinction, and the research problem lies in revealing the status of Islamic financial institutions. Achieving sustainable development, and Islamic financing formulas are important and related to the dimensions of sustainable development. If used optimally, it achieves sustainable development, and Islamic financing formulas directly affect aspects of sustainable development by providing social stability, economic advancement, and commercial movement, and they also contribute to environmental development because they do not allow transactions that lead to damage and waste of resources. The study descriptive analytical approach and the study concluded that Islamic financial institutions should diversify their products so that Islamic financing formulas achieve their goal in contributing to the development of all aspects of sustainable development, whether on the social, economic or environmental level and not limited to one product without the other.

Tingkat literasi keuangan syariah santri dayah

This study aims to determine the level of Islamic financial literacy of students at Dayah Raudhatul Huda. Aspects of Islamic financial literacy observed including knowledge of basic Islamic finance, Islamic saving and loans, personal finance, contracts in Islamic finance and understanding of Islamic financial institutions. The population in this study were the Senior High students of Dayah Raudhatul Huda with the sample size of 77. The data analysis method used is descriptive statistics. The results showed that the level of Islamic financial literacy of students at Dayah Raudhatul Huda was 68,10% which is categorized as medium.The average value obtained in the aspects of basic Islamic financial knowledge is 74,38%, Islamic savings and loans of 69,35%, personal finance of 54,97%, contract in Islamic finance of 69,34% and understanding of Islamic financial institutions at 72,50%.

Conventional and Islamic Letter of Credit: Comparison and Implementation

This study attempts to provide the insight about payment method in international trade, especially by using Letter of Credit both conventional way and Islamic way. This study is exploratory and using qualitative method of research. This study reviews and analyses the previous literatures and other secondary data to conduct the study. The secondary data for this research were gathered through library research. This study also doing the document analysis. Based on the data collected, Letter of Credit is the most secured and commonly used as the method of payment for International Trade. But a lot of contents on the Conventional Letter of Credit is not Shariah-compliant. Islamic Financial Institutions around the world trying to comes up with Islamic Letter of Credit, but to implementing Islamic Letter of Credit creates some new issues and challenges. This study attempts to provide the insight about payment method in international trade, especially by using Letter of Credit both conventional way and Islamic way.

Pro dan Kontra Konversi Bank Konvensional Menjadi Perbankan Syariah

Kehadiran Qanun Nomor 11 Tahun 2018 tentang Lembaga Keuangan Syariah berimplikasi pada perkembangan bank syariah di Aceh. Dengan diundangkannya Qanun Lembaga Keuangan Syariah mengharuskan lembaga keuangan yang beroperasi di Aceh berdasarkan prinsip syariah. Akibatnya, bank konvensional di Aceh melakukan konversi menjadi bank syariah. Penelitian ini bertujuan untuk mengetahui pendapat pro dan kontra dari masyarakat terkait implementasi Qanun Nomor 11 Tahun 2018 pada perbankan yang beroperasi di Aceh. Penelitian ini merupakan penelitian kualitatif deskriptif dengan metode pengumpulan data dari studi literatur atau pustaka. Hasil penelitian menunjukkan bahwa pihak yang mendukung konversi bank konvensional menjadi syariah didasarkan pada keinginan untuk menjalankan syariat Islam secara kaffah. Sedangkan pihak yang kontra menolak implementasi dari qanun tersebut dikarenakan kekurangan bank syariah dalam penyediaan fasilitas dan jasa yang sesuai kebutuhan dan terjangkau serta lemahnya persepsi dan tingkat literasi masyarakat mengenai perbankan syariah. The presence of Qanun Number 11 of 2018 concerning Islamic Financial Institutions has implications for the development of Islamic banks ini Aceh. With the promulgation of the Qanun on Sharia Financial Institutions, it requires financial institutions operating in Aceh to be based on sharia principles. As a result, convesional banks in Aceh converted into Islamic banks. This study aims to determine the opinions of the pro and contra of the public regarding the implementation of Qanun No. 11 Of 2018 in conventional banks operating in Aceh. This research is a descriptive qualitative research with the method of collecting data from literature studies. The results shower that those who supported the converion of conventional banks to Sharia were based on the desire to implements Islamic Law in a kaffah manner. Meanwhile, those sho oppose the implementation of the qanun are due to the lack of Islamic banks in providing facilities and services that are suitable and affordable as well as the weak perception and level of public literacy regarding Islamic banking.