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Baitul Māl Wat Tamwīl (BMT) sebagai Alternatif Strategis Memajukan Usaha Mikro Kecil Sektor Pertanian Atika Rukminastiti Masrifah
Islamic Economics Journal Vol. 3 No. 1 (2017)
Publisher : University of Darussalam Gontor

Micro and Small Enterprises (MSE’s) has an important role in economic development in Indonesia. However, MSE’s still has a lot of problem. They are still having difficulties to access business financing provided by Islamic financial institutions and banking. This paper attempts to analyze the benefit, opportunity, cost and risk of Islamic financial institutions espesially Baitul Mal wat Tamwil (BMT) in promoting MSE’s utilizing Analytical Network Process (ANP) method with Benefit Opportunity Cost Risk (BOCR) approach, including the proposed alternative strategies. Results of this study show that the highest priority of cost and risk is the lack of support and the understanding of community. Moreover the highest priority of benefit and opportunity is that Islamic Financial Institutions has a just profit-loss sharing system i.e., taking into account the possibility of profit and loss, and BMT has a wide and deep outreach for the poor and poorest. The priorities of strategic alternative in the agricultural sector to promote SME are providing alternative financing schemes based on sub-activities, establishing Linkage Program between BUS-BPRS-LKA-Government, organizing incentive schemes, and forming a National Agrarian Bank, which will be totally focused on projects in agriculture.

Efisiensi Baitul Māl wat Tamwīl (BMT) Pesantren di Indonesia Atika Rukminastiti Masrifah
Islamic Economics Journal Vol. 6 No. 1 (2020)
Publisher : University of Darussalam Gontor

Pesantren and Baitul Māl Wa Tamwīl (BMT) are not seemingly equal things to compare. The first focuses on spiritual and religious education, while the latter concentrates on the economic and financial activities. Nevertheless, Pesantrens have been considering the significance of economic development and empowerment, through a micro-finance institution. Hence, the analysis of its performance, in particular, the efficiency level is inevitable. This paper attempts to analyze the technical efficiency (including pure technical and scale efficiencies) of some Pesantren BMTs by using Data Envelopment Analysis (DEA). Additionally, this article also analyses the role of Pesantren BMTs for developing Micro-Entreprises (MEs), as well as toanalyse the roles of Pesantren BMT in ME’s wealth management. The results show that: first, generally, the efficiency of Pesantren BMTs is relatively low. Scale efficiency also indicates that operating of BMTs are still far from the optimal scale. Moreover, the average technical efficiencies (TE), scale efficiency (SE), and pure technical efficiency (PTE) of Pesantren BMTs in terms of intermediation have always been higher than those in terms of production. The possible improvements for inefficient Pesantren BMTs include increasing debitors (Y1) and total financing (Y2). They have to always been struggling to collect sizeable depositors, especially MEs, as well as total financing as their main purpose to empower them and enhance their economic development. The other possible improvements are to increase the collection (X4) and the distribution funds of ZISWAF (Y3). This result suggests that most Pesantren BMTs still focus on baitut tamwīl activities, extending financing as their main business. While the future, BMTs should play a more active role in baitul māl activities as their primary business. Second, Pesantren BMTs are useful for developing MEs and contribute a tremendous social benefit to society in several ways. Although the efficiency of BMTs is relatively low since generally, BMTs have achieved both profit and social benefit. Therefore, Islamic financing might be an appropriate model for MEs.

Zakat Fund Model In Developing Micro, Small And Medium Enterprises (Msmes) In Ponorogo Through Capital, Human Resource And Religiousity As Mediating Variable Atika R. Masrifah; Furqan hifdzur rahman
Journal of Islamic Economics and Philanthropy Vol. 4 No. 4 (2022): May
Publisher : Universitas Darussalam Gontor

Micro, Small and Medium Enterprises (MSMEs) play an important role in the Indonesian economy. MSMEs account for nearly ninety percent of all Indonesian businesses. MSMEs, which account for nearly half of all businesses in Indonesia, have enormous potential to boost the Indonesian economy. However, MSMEs, particularly micro enterprises, face challenges in running their businesses. Capital is an issue that always occurs in MSMEs. Access to capital loans has always been a barrier in the operation of small businesses, particularly Micro Enterprises. To Adress this productive zakat funds are one type of Instrument can assist MSMEs in facing barier acces to fund. This study attempt to examine the effect of productive zakat on developing MSMEs and what factors can affect MSMEs' growth. The quantitative approach is used in this study, and the research method is SEM (Structural Equation Modeling) used as analysis of techniqal. The results of this study indicate that the variables of capital and human resources have a significant and positive effect on the development of MSMEs. while zakat funds have a significant and negative effect on mustahik capital and religiosity. This shows that if the productive zakat increases, mustahik capital and mustahik religiosity will decrease. The suggestion from this research is that monitoring of productive zakat distribution needs to be improved and it is hoped that it will be more selective in giving to mustahik.Keywords: Zakat, MSMEs, SEM

PROBLEM ANALYSIS IN ISLAMIC COOPERATIVE IMPLEMENTATION FOR KARANGASRI FARMER GROUP KAMPUNG DURIAN PONOROGO ‪Atika Rukminastiti Masrifah‬; Faaza Frisky Aulia; ‪Iqbal 'Imari
Journal of Islamic Economics and Philanthropy Vol. 5 No. 1 (2022): August
Publisher : Universitas Darussalam Gontor

Cooperatives in Indonesia is the cornerstone of the economy for all people, especially those with low economies. Agriculture in Indonesia experienced a decline in 2017. One of the problem factors is the problem of capital. To overcome the problem of capital in agriculture, the right step is the establishment of a cooperative. The cooperative will regulate the financial circulation of the farmer groups. The farmer group that is the object of this research is the Karang Asri Kamnpung Durian Ngebel farmer group. This Karang Asri farmer group is the focus of this research because it has the potential for agricultural products that are much sought after by the community, namely durian fruit. In this study, the researcher will analyze the problems that exist in the Karang Asri farmer groups in Durian Ngebel Village which are the causes for the not yet established cooperatives in the farmer groups and formulate a cooperative model that can be established in the Karang Asri farmer groups. The method used in this research is descriptive qualitative with data collection techniques through, observation, interviews, and documentation. By interviewing the head of the Karang Asri farmer group representing the entire group. The results of this study indicate that six problem sectors are ranging from human resources, natural resources, production, distribution, systems, and problems from outside the farmer group. The problems that exist are divided into two groups, namely roots and branches. The root problem is the main problem because there is no cooperative in the farmer group. The branch problem is a factor that indirectly causes the absence of a cooperative. Then the cooperative model that was successfully designed was the sharia producer cooperative. It is hoped that this cooperative model will be a capital solution and also all problems that exist in farmer groups.

PROBLEM ANALYSIS IN ISLAMIC COOPERATIVE IMPLEMENTATION FOR KARANGASRI FARMER GROUP KAMPUNG DURIAN PONOROGO Faaza Frisky Aulia; Atika Rukminastiti Masrifah
Journal of Islamic Economics and Philanthropy Vol. 3 No. 4 (2021): May
Publisher : Universitas Darussalam Gontor

Cooperatives in Indonesia is the cornerstone of the economy for all people, especially those with low economies. Agriculture in Indonesia experienced a decline in 2017. One of the problem factors is the problem of capital. To overcome the problem of capital in agriculture, the right step is the establishment of a cooperative. The cooperative will regulate the financial circulation of the farmer groups. The farmer group that is the object of this research is the Karang Asri Kamnpung Durian Ngebel farmer group. This Karang Asri farmer group is the focus of this research because it has the potential for agricultural products that are much sought after by the community, namely durian fruit. In this study, the researcher will analyze the problems that exist in the Karang Asri farmer groups in Durian Ngebel Village which are the causes for the not yet established cooperatives in the farmer groups and formulate a cooperative model that can be established in the Karang Asri farmer groups. The method used in this research is descriptive qualitative with data collection techniques through, observation, interviews, and documentation. By interviewing the head of the Karang Asri farmer group representing the entire group. The results of this study indicate that six problem sectors are ranging from human resources, natural resources, production, distribution, systems, and problems from outside the farmer group. The problems that exist are divided into two groups, namely roots and branches. The root problem is the main problem because there is no cooperative in the farmer group. The branch problem is a factor that indirectly causes the absence of a cooperative. Then the cooperative model that was successfully designed was the sharia producer cooperative. It is hoped that this cooperative model will be a capital solution and also all problems that exist in farmer groups.

Dimensions of the construct of Islamic financial inclusion for students at the University of Darussalam Gontor, Indonesia rafid nopram; Atika Rukminastiti Masrifah
NUsantara Islamic Economic Journal Vol. 2 No. 2 (2023): 2023 July
Publisher : Department of Islamic Economic, Faculty of Economic and Business, Nahdlatul Ulama Islamic University (UNISNU) Jepara, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.34001/nuiej.v2i2.601

Access to finance has an important role in improving people's standard of living and welfare. One of the factors causing the low interest in access to various banking institutions, products, and services is the lack of financial education among Indonesian people. Education is an important point for increasing financial literacy and inclusion. Good education is carried out at productive ages (15-64 years). For this reason, the management of integrated financial access is something that must receive special attention. In this study, researcher took objects at Darussalam Gontor University by taking UNIDA student respondents from each faculty using a random sampling technique with Structural Equation Modeling (SEM) testing on Lisrel 8.8 software. By using financial literacy (financial knowledge, financial behavior, and financial attitudes) and the level of religiosity as exogenous latent variables on the level of Islamic financial inclusion of UNIDA students as endogenous latent variables. The results show that there is a very significant and positive relationship between exogenous latent variables and endogenous latent variables. So it can be interpreted that someone who has a good level of literacy and also a good level of religiosity, has a better level of access to financial services.

Perancangan Sistem Pengelolaan Limbah Durian Layak Kompos di Agrowisata Kampung Durian Ponorogo Atika Masrifah; Haris Setyaningrum; Adib Susilo; Imam Haryadi
Engagement: Jurnal Pengabdian Kepada Masyarakat Vol 5 No 1 (2021): May 2021
Publisher : Asosiasi Dosen Pengembang Masyarajat (ADPEMAS) Forum Komunikasi Dosen Peneliti

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52166/engagement.v5i1.285

Ngebel is known as one of the centers for durian fruit in Ponorogo, and is known as Kampung Durian. Durian skin waste that has not been utilized. Through the Asset Based Community Development (ABCD) approach the team of this community service has assisted to make use of durian skin waste to become organic fertilizer to supplements the durian crops. Through the construction of the composter house and technology transfer support program for the processing of durian skin waste into organic fertilizer, the results showed that the people of Kampung Durian village were able to make organic fertilizer with good quality standards. The organic fertilizer products have been tested on durian crops, so that they can increase the production and quality of durian fruit, increase the capacity of the Karang Asri Farmer Group in Kampung Durian to use local resources and increase the capacity to cultivate and process durian skin waste.

THE IMPACTS OF CASH WAQF LINKED SUKUK EMPOWERMENT PROGRAMS: EMPIRICAL EVIDENCE FROM INDONESIA Yumna, Aimatul; Masrifah, Atika Rukminastiti; Muljawan, Dadang; Noor, Feri; Marta, Joan
Journal of Islamic Monetary Economics and Finance Vol 10 No 1 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i1.1940

This study analyzes the impact of Cash Waqf Linked Sukuk (CWLS) empowerment programs on beneficiaries’ welfare, financial inclusion, social participation, and spirituality. Using questionnaires administered to the beneficiaries and non-beneficiaries of the empowerment programs in Central Lampung, South Tangerang, Trenggalek East Java, and Bima Nusa Tenggara Indonesia, the study constructs three impact indicators: the welfare index, financial inclusion index, and social and spiritual index. The data are analyzed using the difference-in-difference (DiD) method, where the three impact indices are compared between the two groups of respondents in 2021 and 2022. We find that the CWLS empowerment programs improve the welfare and financial inclusion of beneficiaries but have no discernible effect on social and spiritual participation. However, the DID analysis reveals that the overall impacts of welfare, financial inclusion, and social and spiritual participation are not statistically different between beneficiaries and non-beneficiaries in 2021 and 2022. This study provides significant implications for policymakers and nadzir to enhance the impacts of CWLS on socioeconomic development and poverty alleviation. Acknowledgment This research was funded by Departemen Ekonomi dan Keuangan Syariah (DEKS), Bank Indonesia.

The Effect of Sharia Monetary Instruments on the Profitability of Sharia Commercial Banks in Indonesia in 2019-2023 Ramadhan, Mohammad Ali; Masrifah, Atika Rukminastiti
EQUILIBRIUM Vol 12, No 2 (2024): EQUILIBRIUM
Publisher : Prodi Ekonomi Syariah Pascasarjana IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/equilibrium.v12i2.26361

The purpose of this study is to evaluate the impact of Sharia Interbank Money Market (PUAS), Sharia Bank Indonesia Facility (FASBIS), and Sukuk Bank Indonesia (SukBI) on Return On Assets (ROA) of Indonesian Islamic Commercial Banks. This research uses a quantitative deductive approach using EViews 10 test tools and VAR / VECM techniques. This study uses secondary data with time series data from January 2019 to November 2023. The dependent variable in this analysis is ROA, while the independent variables are SukBI, FASBIS, and PUAS. Based on the research findings, over time, the SukBI variable significantly reduces the return on assets (ROA) of Indonesian ShariaCommercial Banks; on the contrary, the FASBIS variable has no significant effect on ROA, and the PUAS variable has no significant effect on ROA. The SukBI and FASBIS factors did not have a significant short-term impact on the ROA of Indonesian Islamic Commercial Banks. Meanwhile, the ROA of Indonesian Islamic Commercial Banks is significantly negatively affected by PUAS.

Measuring and Evaluating Sharia Business Unit Spin-Off in Indonesia Using RBBR Model Rukminastiti, Atika Masrifah; Rifai, Muhammad Rizqi
Li Falah: Journal of Islamic Economics and Business Vol. 9 No. 2 (2024): December 2024
Publisher : Institut Agama Islam Negeri Kendari

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31332/lifalah.v9i2.8997

This study aims to measure and evaluate the performance of sharia business units that have spun off into sharia commercial banks in Indonesia, with an emphasis on the effectiveness of implementing the Risk-Based Bank Rating model. In addition, the study is driven by the regulatory mandate of the Sharia Banking Law and the industry's need for institutional strengthening after the spin-off. The research method uses a quantitative-descriptive approach by applying four main indicators in the RBBR model: risk profile, good corporate governance, profitability, and capital. Secondary data was obtained from the annual financial reports of Islamic banks resulting from spin-offs in the 2010–2022 period, which were then analysed comparatively to assess the differences in performance before and after the spin-off. The results show that spin-offs generally positively impact capitalisation and profitability, although improving governance quality and risk mitigation still face significant challenges. These findings provide input for regulators, particularly the Financial Services Authority (OJK), to refine spin-off policies so that they are oriented towards fulfilling legal obligations and increasing the competitiveness and stability of the Islamic banking system in Indonesia. The implications of this research emphasise the importance of risk management strengthening strategies, product diversification, and operational efficiency optimisation so that BUS after spin-offs can compete sustainably with conventional and full Islamic banks.

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