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Comparison of Risks, Returns and Performance Measurements of Sharia and Non-Sharia Mutual Funds in Indonesia Prasetyo, Yoyok; Athoillah, Mohamad Anton; Yusup, Deni Kamaludin
Ijtim?'iyya: Journal of Muslim Society Research Vol 4 No 2 (2019)
Publisher : Postgraduate Program, State Institute on Islamic Studies Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (634.33 KB) | DOI: 10.24090/ijtimaiyya.v4i2.3072

Abstract

Investment is a sacrifice to postpone current consumption by allocating a number of assets that are expected to earn benefits in the future. Islamic Sharia does not forbid Muslims to do it, even there is an indication that it is recommended. The main motivation is to be able to pay more alms in the future. One of investment instruments in Indonesia is Mutual Funds. Indonesia's predominantly Muslim population is one of the triggers for the development of sharia-based mutual funds. However, its development has not been as big as the existing potential market. One of the reasons is there is still a view in the community that sharia-based instruments provide lower returns than non-sharia. This study compares the risks and returns of mutual funds, between sharia and non-sharia based. Sampling of both used purposive sampling, where there were 6 sharia mutual funds and 8 non-sharia mutual funds. The study was conducted in 5 years. The results of the study were: (1) There was no significant difference between the risks of both; (2) There was no significant difference between the returns of both; (3) The performance of non-sharia mutual funds was more dominating than sharia mutual funds.
Multi Contract as A Legal Justification of Islamic Economic Law for Gold Mortgage Agreement in Islamic Bank Yusup, Deni Kamaludin
Jurnal Ilmiah Peuradeun Vol 7 No 1 (2019): Jurnal Ilmiah Peuradeun
Publisher : SCAD Independent

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (878.786 KB) | DOI: 10.26811/peuradeun.v7i1.318

Abstract

In recent years, the gold mortgage agreement has become one of the excellent products in Islamic banks. Practically, the gold mortgage agreement to the customer uses the principle of qard with the guarantee of gold in question through the pledge agreement (al-rahn). Gold as a property shall be the object of debt security placed in the control and maintenance of the Islamic bank with certain fee (al-ijarah). The selected object is focused on the multi-contract of gold mortgage agreement at PT. Bank Syariah Mandiri Tbk. This research uses the combination between bibliographical and empirical methods which is supported by primary and secondary data from relevant literature and interview with the informan, and also analysis of the data uses deductive-inductive approach. The result of this study indicates that gold mortgage agreement at PT. Bank Mandiri Syariah used sharia multi-contract or mutanaqishah contract, in which there were combining gratuitous contract (al-tabarru’) and compensational contract (al-tijarah). In the classical Islamic economic law perspective, it looks like a legal justiciation (hilah syar’iyyah) which prohibited taking the excessive benefits from the provision of additional debt (al-ziyadah) and other benefits to cover usury in the practice of ujrah for custodial services, but some opinion of legal jurits allowed it based on the reason that it is included in hilah syar’iyyah mahmudah and also relevant to the principle of adillah al-syar’iyyah and Fatwa DSN-MUI Number: 25/DSN-MUI/III/2002 on Rahn, Article 1320 Civil Code, and the Islamic Banking Law Number 21 of 2008.
Pemberdayaan Ekonomi Masyarakat Melalui Manajemen Pemasaran Produk Gula Semut Berbasis Kemitraan Di Desa Binangun Kecamatan Pataruman Kota Banjar Deni Kamaludin Yusup; Ayi Yunus Rusyana; Irna Fitrianingsih
Al-Khidmat Vol 1, No 1 (2018): Al-Khidmat : Jurnal Ilmiah Pengabdian Kepada Masyarakat
Publisher : Pusat Pengabdian kepada Masyarakat LP2M UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/jak.v1i1.3322

Abstract

Tulisan ini dilatarbelakangi oleh temuan awal dalam kegiatan KKN SISDAMAS UIN Sunan Gunung Djati Bandung pada pertengahan 2016, tepatnya di Desa Binangun Keca-matan Pata¬ruman Kota Banjar. Alasan pemilihan lokasi ini didasarkan kepada alasan bahwa Desa Binangun memiliki karakteristik yang unik, yakni selain menjadi daerah pertanian, sebagian masyarakatnya – terutama kalangan perempuan – juga memiliki profesi sebagai pengrajin dan sekaligus produsen industri rumahan (home industry), seperti: Gula Semut, Dodol, Wajit, Keripik, Kerupuk, Teng Teng, dan sejenisnya. Namun kebanyakan dari mereka belum memiliki perencanaan, pengorganisasian, pelaksanaan, pengawasan, dan evaluasi bisnis yang baik, terutama dalam memasarkan produk-produknya. Implikasinya adalah pemasaran produk gula semut dan pendapatan hasil usaha mereka kurang optimal, sehingga belum mampu meningkatkan kesejahteraan ekonomi. Padahal Desa Binangun ini memiliki potensi yang cukup besar untuk dikembangkan menjadi Desa Wisata di Kota Banjar. Tulisan ini akan menjelaskan bagaimana program pemberdayaan ekonomi masyarakat dapat dikem¬bangkan melalui kemitraan antara lembaga pemerintah, perguruan tinggi, dan lembaga keuangan, yang difokuskan pada manajemen pemasaran produk gula semut di Desa Binangun Kecamatan Pataruman Kota Banjar.
PERBANDINGAN TEORI ASURANSI: STUDI PERBANDINGAN TEORI EKONOMI TAQIYYUDDÎN AL-NABANI DAN THOMAS ROBERT MALTUS Deni Kamaludin Yusup
Asy-Syari'ah Vol 16, No 2 (2014): Jurnal Asy-Syari'ah
Publisher : Faculty of Sharia and Law, Sunan Gunung Djati Islamic State University of Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/as.v16i2.634

Abstract

Insurance could be understood as a guarantee or a trade given the insurer (insurance company) to the insured for the risk of loss specified in the agreement (polis) with the obligations of the insured have should pay a premium to the insurer (insurance company). In modern times, the insurance is one of profitable transactions, because many people are starting to realize that the insurance is very important thing. This article will explain some of the theories about the insurance from the perspective of Shari'ah and conventional which focused on the economic theory presented by Taqiyyuddîn Al-Nabani and Thomas Robert Maltus. From this article, we are expected to understand about the differences between the concepts of insurance based on shariah and conventional perspektive clearly and thoroughly.
NORMA-NORMA HUKUM HAK ASASI MANUSIA DALAM AL-QURAN: STUDI KRITIS ATAS TAFSIR AL-QURAN SURAT AL-NISÂ’ AYAT 135 Deni Kamaludin Yusup
Asy-Syari'ah Vol 17, No 2 (2015): Jurnal Asy-Syari'ah
Publisher : Faculty of Sharia and Law, Sunan Gunung Djati Islamic State University of Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/as.v17i2.649

Abstract

This paper is simply explaining on the legal norms of human rights in the Quran through critical study on the Quranic interpretation Surah al-Nisâ’ verse 135. As the primary source of Islamic law, the Quran is believed covered the various verses which are relevant with the legal norms of human rights. Moreover the guarantee of human rights and its consideration in the Quran has been presently existed more than the idea of human rights in Western world. In addition, the crucial proble here is not talking about accepting or rejecting human rights within the Quran, but many scholars find the difficulties on understanding human rights in the Quran more than accepting it as the Holy Book and the way of life for human beings.
PENGARUH ROCE DAN ROE TERHADAP DIVIDEND YIELD Shifa Miarti Aziza; Deni Kamaludin Yusup; Vinna Sri Yuniarti
Finansha: Journal of Sharia Financial Management Vol 2, No 1 (2021): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v2i1.12536

Abstract

Tujuan utama seorang investor dalam berivestasi adalah dividen. Indikator yang digunakan untuk mengukur kebijakan dividen adalah Dividend Yield. Rasio profitabilitas yang diproyeksikan melalui Return on Capital Employed  (ROCE) dan Return on Equity (ROE) diindikasikan mempengaruhi Dividen Yield.  Tujuan dari penelitian ini adalah menganalisis pengaruh ROCE dan ROE terhadap Dividend Yield  pada PT. Waskita Karya, Tbk. Periode 2010-2019. Metode penelitian ini yaitu metode deskriptif verifikatif dengan pendekatan kuantitatif. Data penelitian bersumber dari data sekunder yaitu laporan keuangan tahunan yang telah dipublikasikan oleh perusahaan. Kemudian, analisis data menggunakan analisis asumsi klasik, statistik deskriptif, dan analisis kuantitatif. Hasil penelitian menunjukkan bahwa secara parsial ROCE berpengaruh terhadap dividend yield dengan kontribusi sebesar 59.1 persen, ROE berpengaruh terhadap dividend yield dengan kontribusi sebesar 63.9 persen. Dan secara simultan ROCE dan ROE berpengaruh terhadap dividen yield dengan kontribusi sebesar sebesar 65.2% sisanya sebesar 34.8% dipengaruhi oleh faktor lain di luar penelitian. 
PENGARUH PENGETAHUAN PASAR MODAL SYARIAH DAN MOTIVASI INVESTASI TERHADAP MINAT INVESTASI KAUM MILENIAL GARUT DI PASAR MODAL SYARIAH Adzkya Dzulda Alfarauq; Deni Kamaludin Yusup
Finansha: Journal of Sharia Financial Management Vol 1, No 1 (2020): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fsfm.v1i1.10052

Abstract

AbstractThis research is motivated by the low investment interest of millennials in Garut City, this is assumed because of the lack of socialization regarding investment in the capital market for millennials. So that the researcher has the aim to analyze the effect of Islamic capital market knowledge and investment motivation on the investment interest of Garut millennials in the Islamic capital market. The data analysis technique used in this study is multiple linear regression. Then, the data used comes from collecting questionnaires or research questionnaires and literature study. The population in this study is the millennial generation in Garut, with a sample of 112 respondents. The results obtained are that the knowledge of the capital market has a significant influence on the investment interest of Garut millennials. However, it is different from the influence of investment motivation which does not have a significant effect on the investment interest of Garut millennials. Finally, together, capital market knowledge and investment motivation have a significant influence on the investment interest of Garut millennials with an influence contribution of 17.7%, meaning that 82.3% of investment interest is influenced by other factors outside of this study. Keywords: Sharia Capital Market Knowledge, Investment Motivation, Investment Interest AbstrakPenelitian ini dilatarbelakangi oleh, rendahnya minat investasi kaum milenial Kota Garut, hal ini diasumsikan karena minimnya sosialisasi mengenai investasi di pasar modal untuk kaum milenial. Sehingga peneliti memiliki tujuan untuk menganalisis pengaruh pengetahuan pasar modal syariah dan motivasi investasi terhadap minat investasi kaum milenial Garut di pasar modal Syariah. Teknik analisis data yang digunakan dalam penelitian ini adalah regresi linear berganda. Kemudian, data yang digunakan berasal dari pengumpulan kuesioner atau angket penelitian dan studi kepustakaan. Populasi dalam penelitian ini adalah generasi milenial di Garut, dengan sampel sebanyak 112 responden. Hasil penilitian yang didapatkan adalah pengetahuan pasar modal memiliki pengaruh yang signifikan terhadap minat investasi kaum milenial Garut. Namun, berbeda dengan pengaruh motivasi investasi yang tidak berpengaruh signifikan terhadap minat investasi kaum milenial Garut. Terakhir, secara bersama-sama pengetahuan pasar modal dan motivasi investasi memiliki pengaruh yang signifikan terhadap minat investasi kaum milenial Garut dengan kontribusi pengaruh sebesar sebesar 17,7 %, artinya sebesar 82,3% minat investasi dipengaruhi oleh faktor-faktor lain diluar penelitian ini. Kata kunci: Pengetahuan Pasar Modal Syariah, Motivasi Investasi, Minat Investasi
Comparison of Risks, Returns and Performance Measurements of Sharia and Non-Sharia Mutual Funds in Indonesia Yoyok Prasetyo; Mohamad Anton Athoillah; Deni Kamaludin Yusup
Ijtimā`iyya: Journal of Muslim Society Research Vol 4 No 2 (2019)
Publisher : Postgraduate Program, State Institute on Islamic Studies Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (634.33 KB) | DOI: 10.24090/ijtimaiyya.v4i2.3072

Abstract

Investment is a sacrifice to postpone current consumption by allocating a number of assets that are expected to earn benefits in the future. Islamic Sharia does not forbid Muslims to do it, even there is an indication that it is recommended. The main motivation is to be able to pay more alms in the future. One of investment instruments in Indonesia is Mutual Funds. Indonesia's predominantly Muslim population is one of the triggers for the development of sharia-based mutual funds. However, its development has not been as big as the existing potential market. One of the reasons is there is still a view in the community that sharia-based instruments provide lower returns than non-sharia. This study compares the risks and returns of mutual funds, between sharia and non-sharia based. Sampling of both used purposive sampling, where there were 6 sharia mutual funds and 8 non-sharia mutual funds. The study was conducted in 5 years. The results of the study were: (1) There was no significant difference between the risks of both; (2) There was no significant difference between the returns of both; (3) The performance of non-sharia mutual funds was more dominating than sharia mutual funds.
ANALISIS TINGKAT PENGEMBALIAN AKTIVA BANK UMUM SYARIAH DILIHAT DARI RASIO PERBANKAN SYARIAH Citra Artiara Yuniar; Deni Kamaludin Yusup; M. Sandi Marta
Finansha: Journal of Sharia Financial Management Vol 3, No 2 (2022): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v3i2.20868

Abstract

Permasalahan dalam penelitian ini yaitu adanya ketidakjelasan terhadap faktor-faktor yang menyebabkan perubahan Return On Asset (ROA) dalam menjaga tingkat pengembalian atas asetnya dengan memaksimalkan return sebagai bentuk kepercayaan dan ekspansi usaha bank dalam dunia keuangan. Penelitian ini dilakukan untuk menguji pengaruh variabel Capital Adequacy Ratio (CAR), Non Performing Financing (NPF) dan Net Imbalan (NI) terhadap Return On Asset (ROA). Analisis pada penelitian ini menggunakan analisis regresi data panel dengan pendekatan kuantitatif didukung oleh data panel sekunder dan terdiri dari 4 Bank Umum Syariah di Indonesia tahun 2011-2020. Hasil penelitian menunjukan bahwa Capital Adequacy Ratio (CAR) berpengaruh negatif signifikan terhadap Return On Asset (ROA),  Non Performing Financing (NPF) berpengaruh negatif signifikan terhadap Return On Asset (ROA), Net Imbalan (NI) berpengaruh positif signifikan terhadap Return On Asset (ROA) dan secara simultan CAR, NPF dan NI berpengaruh signifikan terhadap ROA. 
MANFAAT DISKON DAN CASH BACK TERHADAP VOLUME PENJUALAN PROPERTI SYARIAH SELAMA PANDEMIK COVID-19 Ian Rakhamawan Suherli; Deni Kamaludin Yusup; Hilma Fanniar Rohman; Alfadl Habibie; Adi Irfan Marjuqi
Ekonomica Sharia: Jurnal Pemikiran dan Pengembangan Ekonomi Syariah Vol 8 No 2 (2023): Jurnal Ekonomica Sharia : Jurnal Pemikiran dan Pengembangan Ekonomi Syariah - Feb
Publisher : Sekolah Tinggi Ekonomi dan Bisnis Syariah (STEBIS) Indo Global Mandiri Palembang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.36908/esha.v8i2.597

Abstract

Rumah merupakan salah satu pembelian barang termahal dalam kehidupan seorang manusia untuk itu maka pembeli memperhatikan secara khusus perihal harga propertinya, bila membelinya secara kredit tentu akan melakukan kalkulasi secara objektif mana yang lebih murah dan lebih mudah persyaratannya. Pangsa pasar properti diera pandemik mengalami pertumbuhan negatif sedangkan pembiayaan menggunakan skema KPR syariah dan pinjaman pada Development Property Syariah meningkat dibanding dengan skema pinjaman berbasis bunga atau interest fee. Pemerintah memberikan stimulan kepada dunia properti residensial dengan berbagai subsidi seperti KPR subsidi selisih bunga, KPR subsidi selisih margin, subsidi bantuan uang muka, diskon PPN progresif, relaksasi uang muka pembelian properti dan diskon pada biaya Bea Perolehan Hak atas Tanah begitu juga bangunan. Penelitian ini bertujuan untuk mendapatkan gambaran mengenai manfaat diskon dan cash back yang dilakukan pengembang perumahan terhadap penjualan rumah dikala pandemic covid-19 melanda khususnya Indonesia secara umum. Untuk melengkapi kebutuhan data yang diperlukan maka digunakan metode stdi kepustakaan baik buku, artikel ilmiah terdahulu, berita online dan peraturan-peraturan yang diberlakukan oleh pemerintah. Hasil penelitian ini pada prinsipnya adalah penjualan properti dikala pandemic melanda terdapat hal yang meringankan bagi konsumen saat membeli rumah idamannya.