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All Journal ETIKONOMI Jurnal Ekonomi Kuantitatif Terapan Jurnal Minds: Manajemen Ide dan Inspirasi
Muhammad Budi Prasetyo
Universitas Indonesia
Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Opportunities and Challenges in Developing Islamic Pension Funds in Indonesia Rahmatina Awaliyah Kasri; Banu Muhammad Haidlir; Muhammad Budi Prasetyo; Tika Arundina Aswin; Fenny Rosmanita
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.16284

Abstract

Despite the rapid development of the Islamic financial sector in Indonesia, the development of Islamic pension funds is way behind those of the other Islamic financial sectors. This study aims to explore the opportunities and challenges faced by Indonesian Islamic pension funds. Utilizing a qualitative research method, the study conducted Focus Group Discussions with 23 large pension funds spread across five big cities in Indonesia. It was revealed that opportunities and prospects for developing Islamic pension funds in Indonesia are relatively good. However, various internal and external challenges were found, such as a lack of knowledge; the weak commitment of founders; lack of quality human resources; relatively unfavorable tax treatment; limited investment instruments; competition with government pension schemes; and public literacy problems.  Therefore, two broad strategies are recommended to develop the Islamic funds, namely the provision of direct/indirect incentives to market players, and literacy programmes to targeted/priority groups. These strategies are expected to encourage and accelerate the growth of Indonesia's Islamic pension fund industry in the future.JEL Classification: H55, H75, J32How to Cite:Kasri, R. A., Haidlir, B. H., Prasetyo, M. B., Aswin, T. A., Rosmanita, F. (2020). Probability of Paying Zakat from Micro Financing Project Return. Etikonomi: Jurnal Ekonomi, 19(2), 311-322. https://doi.org/10.15408/etk.v19i2.16284.
Spin-off Decision Making in Islamic Windows of Financing Companies Intan Herlina Oktaviani; Muhammad Budi Prasetyo
Jurnal Minds: Manajemen Ide dan Inspirasi Vol 8 No 2 (2021): December
Publisher : Management Department, Universitas Islam Negeri Alauddin Makassar, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/minds.v8i2.21902

Abstract

Decision-makers must consider many factors in carrying spin-off. The previous literature discussed more results on academics, non-financial companies, or Islamic banking. This paper proposes essential criteria to use in the analysis of financing company spin-off decisions. This article uses the AHP method by distributing questionnaires to the Directors of financing companies entitled to make spin-off decisions to determine the priority of the criteria and sub-criteria in question. The results show that financial condition is an essential criterion in making spin-off decisions. As for the Islamic financing business concept and strategy, the rate of return and growth are the top ranks for the sub-criteria chosen by the spin-off decision-maker.
Uji Empirik Crowding Out Surat Utang Pemerintah dan Korporasi di Pasar Modal Indonesia Buddi Wibowo; Hendrikus Passagi; Muhammad Budi Prasetyo
Jurnal Ekonomi Kuantitatif Terapan 2018: Vol. 11, No.1, Februari 2018 (pp. 1-144)
Publisher : Universitas Udayana

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (306.803 KB) | DOI: 10.24843/JEKT.2018.v11.i01.p02

Abstract

Financing government budget deficit through emission of government bonds may create a crowding out in corporate bond market. Crowding out caused the cost of funds incurred by the corporation to be expensive so the corporate bond market is stagnant and banks become the only major source of funding. Sources of funding that are so dependent on the banking sector could threaten financial stability and the country's economy as a whole because of the banks’ systemic risk. Default of a bank not only can influence other banks but also can have a serious impact on the national economy. This research empirically examine the phenomenon of crowding out in Indonesia with a fixed effect model of panel data FGLS and show existence of crowding out, where the yield spread tends to rise when the government issued new debt securities. But the rise in the yield spread was more due to the increase in Credit Default Swaps (CDS) spreads which reflect the default risk of Indonesia, as well as showing the influence of foreign investors in the Indonesian capital market which is strongly influenced by CDS.
Co-Authors Banu Muhammad H. Buddi Wibowo Fenny Rosmanita Hendrikus Passagi Intan Herlina Oktaviani Rahmatina Awaliyah Kasri Tika Arundina