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Analisis Manajemen Risiko Simpanan VIP Berhadiah BMT Mitra Muamalah Jepara Rizky Nofandra; Miswan Ansori; Ahmad Fauzan Mubarok
Indonesian Journal of Innovation Science and Knowledge Vol. 3 No. 3 (2026): IJISK 2026
Publisher : Fakultas Pendidikan Ilmu Keguruan, Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/ijisk.v3i3.233

Abstract

This study analyses the implementation of risk management in the VIP prize-linked savings product of BMT Mitra Muamalah Jepara and formulates areas for control strengthening. A descriptive qualitative case-study design was employed. Primary data were obtained through semi-structured interviews with eight informants comprising the BMT manager, funding/marketing officer, operations/finance officer, internal control officer, a member of the Sharia Supervisory Board, and three product members. The interview data were coded and organised into liquidity, operational, sharia-compliance, reputational, strategic/funding, and legal-data protection risks, and were interpreted alongside relevant sharia provisions and prior studies. The findings show that risk management has been implemented through management-approved product policies, monthly performance evaluation, cash-flow projections based on maturity schedules, daily reconciliation, segregation of duties, periodic internal audits, and Sharia Supervisory Board review. An operational input error had occurred but was detected through daily reconciliation without causing member losses. Member trust was relatively strong, although questions regarding maturity rules and the timing of gift distribution remained. Liquidity and operational risks therefore require the highest continuing attention, while sharia and reputational risks are mitigated by supervisory review and transparent communication. The study recommends formal risk appetite, measurable key risk indicators, stronger data-access controls, documented complaint standards, and scenario-based liquidity testing.
Perspektif Teknik Scalping dalam Pasar Modal Syariah Menurut Hukum Fikih Empat Mazhab Rizki Ilham Maulana; Ahmad Fauzan Mubarok; Miswan Ansori
Indonesian Journal of Innovation Science and Knowledge Vol. 3 No. 4 (2026): IJISK 2026
Publisher : Fakultas Pendidikan Ilmu Keguruan, Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/ijisk.v3i4.573

Abstract

Penelitian ini bertujuan untuk menganalisis status hukum teknik scalping dalam pasar modal syariah berdasarkan perspektif fikih empat mazhab, yaitu Hanafi, Maliki, Syafi’i, dan Hanbali. Penelitian ini menggunakan metode kualitatif dengan pendekatan normatif-yuridis dan komparatif fikih (fiqh muqaran). Data diperoleh melalui studi kepustakaan dan dokumentasi terhadap kitab-kitab fikih empat mazhab, Al-Qur’an, hadis, Fatwa DSN-MUI Nomor 80/DSN-MUI/III/2011, regulasi pasar modal syariah, serta literatur akademik yang relevan. Analisis dilakukan melalui content analysis, takyif fiqhi, dan perbandingan prinsip-prinsip jual beli, kepemilikan (milk), penguasaan (qabdh), gharar, maisir, tadlis, ihtikar, bay’ al-ma’dum, dan spekulasi. Hasil penelitian menunjukkan bahwa teknik scalping tidak dapat dihukumi secara mutlak halal maupun haram. Kecepatan dan singkatnya waktu kepemilikan saham bukan merupakan faktor yang secara otomatis menyebabkan keharaman. Scalping dapat diperbolehkan apabila dilakukan terhadap saham yang memenuhi prinsip syariah, dimiliki atau berada dalam penguasaan yang sah, memenuhi rukun dan syarat jual beli, serta terbebas dari gharar, maisir, tadlis, manipulasi, dan spekulasi berlebihan. Penggunaan Sharia Online Trading System (SOTS) dan kepatuhan terhadap Fatwa DSN-MUI No. 80/2011 dapat mendukung kesesuaian transaksi dengan prinsip syariah. Sebaliknya, scalping menjadi dilarang apabila dilakukan pada saham non-syariah, menjual saham yang belum dimiliki, mengandung spekulasi yang menyerupai maisir, atau melibatkan informasi palsu, transaksi semu, dan manipulasi harga. Dengan demikian, status hukum scalping bersifat kondisional dan ditentukan oleh substansi akad, objek transaksi, kepemilikan, mekanisme perdagangan, serta perilaku investor.