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Sibral Malasyi
Universitas Islam Negeri Sumatera Utara, Indonesia

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The Management of Zakat and Waqf in the Economic Development Efforts of Aljazair Maryam Batubara; Sibral Malasyi
Economit Journal: Scientific Journal of Accountancy, Management and Finance Vol 4 No 1 (2024): Economit Journal: Scientific Journal of Accountancy, Management and Finance: (Feb
Publisher : Britain International for Academic Research (BIAR-Publisher)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/economit.v4i1.1056

Abstract

This article discusses zakat management in Aljazair, focusing on changes in zakat management plans, the history of Zakat, and mechanisms for collecting and distributing zakat funds. Aljazair is facing changes in zakat management with plans to establish a National Zakat Council, in response to public dissatisfaction with the existing system. The history of Zakat in Aljazair reflects its critical role before the colonial era, but experienced significant decline during that period. Zakat management in Aljazair involves Kotak Zakat as a voluntary organization with strategic partnerships, innovation in utilizing Zakat, and the use of technology to increase efficiency and transparency. The distribution of zakat funds involves an application process from mosque units, which the Regional Council supervises. Partnerships with financial institutions such as Bank Al-Barakah Aljazair create innovative solutions such as the Zakat Investment Box. Through an organized approach and strategic partnerships, Zakat management in Aljazair is committed to utilizing Zakat for social welfare. In the management of Zakat and waqf in Aljazair, it can be concluded that there are 48 directorates of religious affairs and waqf located in each of the 48 provinces in Aljazair. They are considered a scaled-down version of the ministries of religious affairs and endowments, where they have small offices and departments representing specific tasks assigned by the ministry. They oversee the management of zakat funds, waqf assets, Hajj and Umrah affairs and other religious affairs in each of the country's 48 provinces. Each religious and waqf directorate has a separate department dedicated to waqf asset collection, dispute management, and investment. All religious and waqf directorates are directly related to the central directorate in the capital and the ministry of religion and waqf.
The Implementation of Investment Risk Management in Sharia Capital Market Sugianto Sugianto; Sibral Malasyi
Economit Journal: Scientific Journal of Accountancy, Management and Finance Vol 4 No 1 (2024): Economit Journal: Scientific Journal of Accountancy, Management and Finance: (Feb
Publisher : Britain International for Academic Research (BIAR-Publisher)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33258/economit.v4i1.1058

Abstract

The Sharia Capital Market has recently increased as an investment vehicle that complies with Islamic sharia principles. However, as with all investment forms, some risks must be managed carefully. This paper describes the context, urgency and process of investment risk management in the Sharia Capital Market. The Sharia Capital Market complies with sharia principles, including the prohibition of usury and haram business. The risks investors face include business, market, sharia, and liquidity risks. Risk management supports sharia compliance, protects investments and maintains portfolio sustainability. The risk management involves identifying, assessing, developing strategies, implementing, and monitoring risks. By understanding and implementing risk management well, investors can achieve their investment goals more successfully in the Sharia Capital Market. In the financial world, investors must pay attention to investment risks before deciding to avoid losses. The meaning of investment risk also needs to be studied and understood by investors so that investors do not feel cheated and believe in 'profits and losses' when choosing the type of business to invest in and then be able to learn from the business they are running. We will discuss the technical aspects of investment risk management below later. Apart from understanding investment risks, investment stages can also be known from the financial institution investors choose. For this reason, ask about the stages of investing before you disburse funds. One type of investment that is interesting for investors is peer-to-peer. Unlike traditional financing methods, Peer-to-peer (P2P) lending uses lending marketplace and scoring technology. This means that investment risk becomes measurable and suitable for investors. The funds that have been collected will be distributed to micro entrepreneurs and SMEs who need financing with investors who want to fund these businesses. Investors who have invested their funds using a peer-to-peer lending system will not need to worry about investment risks because later investors will get appropriate returns based on consideration of the investment risk profile.