Claim Missing Document
Check
Articles

Found 12 Documents
Search

Towards Better Financial Governance: The Urgency of Model Risk Management in Indonesia Viewed Through Maqashid Shariah Ferdinand, Novingky
International Journal of Economics (IJEC) Vol. 3 No. 2 (2024): July-December
Publisher : PT Inovasi Pratama Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55299/ijec.v3i2.1024

Abstract

This study assesses the adequacy of Model Risk Management (MRM) frameworks within Indonesian Islamic banking by utilizing Maqashid Shariah principles as a tool to align these frameworks more closely with global standards, specifically focusing on safeguarding life (Hifzh Al-Nafs) and property (Hifzh Al-Mal). Through a comparative literature review, this research examines the structure and effectiveness of MRM practices in Indonesia, referencing regulations such as POJK 65/2016 and SEOJK 25-SEOJK.03-2023, against those in developed financial markets such as the USA, UK, Europe, Japan, and UAE, with an emphasis on governance, lifecycle management, and internal audit processes. The findings suggest that Indonesia’s current MRM frameworks are somewhat rudimentary when contrasted with international norms. Key areas identified for enhancement include expanding the scope, enhancing governance structures, refining model lifecycle management, and strengthening internal audits and oversight mechanisms. By employing Maqashid Shariah principles as an analytical tool, this paper proposes enhancements to MRM frameworks that can significantly improve the stability and compliance of Islamic banks in Indonesia, promoting greater global competitiveness and adherence to Shariah principles. This approach not only integrates traditional MRM approaches with Islamic ethical standards but also provides a tailored framework for regulatory enhancements that support a stable, compliant, and ethical Islamic banking environment.
ANALISIS PENGALAMAN PERJALANAN UMRAH TENTANG KEPUASAN JEMAAH UMRAH PENYANDANG DISABILITAS Aji, Rizky Albar Pandu; Ferdinand, Novingky; Kumala, Destiana
An Nuqud Journal of Islamic Economics Vol 4 No 1 (2025): AN NUQUD
Publisher : LEMBAGA PENELITIAN DAN PENGABDIAN PADA MASYARAKAT

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51192/annuqud.v4i1.1962

Abstract

Performing Umrah is a profound spiritual aspiration for every Muslim, including individuals with disabilities. The journey to the holy land, which includes various rituals and worship activities, requires careful preparation, especially for those with special needs. This qualitative case study investigates the service strategies used by PT XYZ, Kebon Jeruk, a travel agency, to increase the satisfaction of Umrah pilgrims with disabilities. Data were collected through in-depth interviews with key personnel at PT XYZ and observation of their operational procedures. The findings show that PT XYZ's service strategy, which includes personal introduction to pilgrims with disabilities, specialized assistance, and comprehensive fulfillment of their unique needs, is highly effective. The provision of adequate facilities and thorough preparation ensure that Umrah trips for people with disabilities are conducted comfortably, safely, and with deep spiritual fulfillment. This effectiveness is further evidenced by prioritizing disabled pilgrims both during the preceding manasik (pilgrimage ritual training) in Indonesia and during the actual pilgrimage activities in the holy land