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Analisis Manajemen Risiko Pembiayaan Mikro Syariah Berbasis Karakteristik Masyarakat (Studi pada Koperasi Mitra Manindo, Kabupaten Mandailing Natal, Sumatera Utara) Nasution, Lokot Zein
Islamic Circle Vol. 1 No. 1 (2020): Islamic Circle
Publisher : Prodi Hukum Ekonomi Syari'ah STAIN Mandailing Natal

Distribution of Islamic microfinance is often constrained by the characteristics of the poor who tend to be conservative. This has implications for the difficulty of efforts to improve the welfare of the poor through increased work ethic and productivity. Various discourses propose the application of risk management based on mapping the characteristics of the poor in the distribution of micro-scale financing, including for the sharia segment. Therefore, this study aims to analyze the characteristics of the poor as the basis for risk management of Islamic micro finance. This research takes a case study on the Mitra Manindo Cooperative in Mandailing Natal Regency, North Sumatra Province. The research method was carried out by taking 102 research samples using questionnaires and analyzed through the development analysis approach. The results of the study concluded that: (i) Mitra Manindo Cooperative members have different business characteristics and performance; (ii) each member has a different level of business problems; and (iii) each member has different characteristics, especially in the work ethic. Characteristics of members in general can be categorized into four clusters, namely dynamic, active, passive, and potential. Based on these results, a cluster-based management method is needed which has implications for the urgency of financing management as a form of financing mitigation. Characteristic mapping is an effort to reduce the uncertainty (gharar) of sharia microfinance governance that emphasizes the importance of transparency, fairness, and equity. This finding can be a proliferation in constructing the mapping design of the characteristics of the poor as a single segment of microfinance.

Konstruksi Pengembangan Wakaf Saham Dalam Rangka Mengoptimalkan Potensi Wakaf Produktif di Indonesia Nasution, Lokot Zein; Aris, Diba Anggraini
Islamic Circle Vol. 1 No. 1 (2020): Islamic Circle
Publisher : Prodi Hukum Ekonomi Syari'ah STAIN Mandailing Natal

Waqf has an important role for improving the quality of development, especially through improving social and economic dimensions. However, the management of waqf on average has not been able to be productively, so that its role for development is still not optimal. This is caused the suboptimal innovation and governance of waqf. The strategy to improve innovation in waqf governance is to create product diversification, one of which is stock waqf. However, the development of stock waqf is constrained by the lack of literature references so that the exploration of the potential and impact of stock waqf is still unknown. Therefore, the purpose of this study is to construct the development of stock waqf in order to optimize the potential of productive waqf in Indonesia. Based on the desk study approach analyzed through literature review, three discussion results can be drawn, namely: (i) the community still has a weak level of knowledge related to stock waqf, which is caused by socialization and literacy that are still low; (ii) the position of stock waqf in the constellation of Islamic financial ecosystem is still weak; and (iii) there are two models of implementing stock waqf that can be done, namely waqf that comes from the profits of stock investors, and waqf that makes Islamic stocks as an object of waqf. To construct the development of stock waqf, policy strengthening is needed, which includes the authorities of the Ministry of Finance, the Ministry of Religion, BWI, BI, and OJK.

Peran Lembaga Pembiayaan Syariah dalam Mempercepat Pemulihan UMKM di Masa Pandemi Nasution, Lokot Zein
Islamic Circle Vol. 2 No. 1 (2021): Islamic Circle
Publisher : Prodi Hukum Ekonomi Syari'ah STAIN Mandailing Natal

Covid-19 pandemic has not only impacted the health sector, but also social, political, security, and especially the economic sector. Various empirical studies prove that the Covid-19 pandemic has significantly reduced market demand due to social activities and trade transactions. SMEs are one of the most powerful business actors, and a threat to business in the long term. The source of the problem is the low accessibility of financing, including the non-optimal use of sharia financing during the pandemic. how this can be done to find and explore Islamic financing institutions that can be done in the recovery of pandemic MSMEs. Based on a review of the study literature, it was found that Islamic financing has advantages in the form of the principle of risk sharing to overcome the vulnerability of SMEs businesses. Another advantage lies in sharia guidelines that are in accordance with democracy, and the application of the precautionary principle. In Islamic financing, there is no party who benefits above the loss of the other party, and there is no unilateral or repressive treatment to other parties. The advantage it has is that Islamic financing must be conditioned to suit business needs, equipped with an empowerment model as part of the SMEs financing scheme. For this reason, the government needs to encourage the Islamic finance ecosystem as a foundation in developing Islamic financing institutions for the recovery of SMEs during the pandemic.

Determinan Penentu Inovasi Pengembangan Pembiayaan Mikro Syariah bagi Penguatan Daya Saing UMKM Aris, Diba; Nasution, Lokot Zein
Islamic Circle Vol. 1 No. 2 (2020): Islamic Circle
Publisher : Prodi Hukum Ekonomi Syari'ah STAIN Mandailing Natal

Abstrak Pembiayaan mikro syariah telah diakui secara global mampu menciptakan penguatan daya saing UMKM. Keunggulan yang ditawarkan diantaranya adalah menghindari riba, penerapan sistem bagi hasil, mempromosikan keadilan, menghindari ketidakpastian, dan menghindari spekulasi. Meski demikian, kinerja pembiayaan mikro syariah sampai saat ini belum optimal karena masih tingginya tantangan yang dihadapi. Untuk itu, dibutuhkan terobosan inovasi untuk menciptakan optimalisasi peranan pembiayaan mikro syariah bagi penguatan daya saing UMKM. Berdasarkan hasil studi literatur dan deskripsi yang mendalam, inovasi pengembangan pembiayaan mikro syariah dapat dibedakan menjadi tiga ruang lingkup, yaitu: (i) inovasi dari penguatan karakteristik kelembagaan pembiayaan mikro syariah; (ii) inovasi dari penguatan prinsip dan nilai dalam pembiayaan mikro syariah; dan (iii) inovasi penguatan produk dan layanan pembiayaan mikro syariah. Untuk mempercepat ketiga ruang lingkup inovasi tersebut, dibutuhkan tiga langkah strategis yang harus dilakukan, yaitu: (i) percepatan edukasi dan literasi pembiayaan mikro syariah; (ii) penguatan infrastruktur pendukung; dan (iii) penguatan kapasitas Lembaga Keuangan Mikro Syariah (LKMS) dalam menghasilkan efisiensi usaha. Langkah-langkah tersebut diharapkan mampu mengoptimalkan rekayasa inovasi pengembangan pembiayaan mikro syariah bagi penguatan daya saing UMKM yang berkelanjutan. Kata Kunci : Daya Saing UMKM, Inovasi Pembiayaan Mikro Syariah, LKMS Abstract Sharia microfinance has been recognized globally as being able to strengthen the competitiveness of SMEs. The advantages offered include avoiding usury, implementing a profit-sharing system, promoting fairness, avoiding uncertainty, and avoiding speculation. However, the performance of sharia microfinance has not yet been optimal due to the high challenges faced. For this reason, innovation breakthroughs are needed to optimize the role of sharia microfinance for strengthening the competitiveness of MSMEs. Based on the results of a literature study and an in-depth description, innovations in the development of sharia microfinance can be divided into three scopes, namely: (i) innovations from strengthening the characteristics of sharia microfinance institutions; (ii) innovation from strengthening principles and values in sharia microfinance; and (iii) innovation to strengthen sharia microfinance products and services. To accelerate the three scopes of innovation, three strategic steps must be taken, namely: (i) acceleration of Islamic microfinance education and literacy; (ii) strengthening of supporting infrastructure; and (iii) strengthening the capacity of Islamic Microfinance Institutions (LKMS) in generating business efficiency. These steps are expected to be able to optimize engineering innovations for the development of sharia microfinance to strengthen the sustainable competitiveness of SMEs. Keywords : SMEs Competitiveness, Sharia Microfinance Innovation, LKMS

Analisis Manajemen Risiko Pembiayaan Mikro Syariah Berbasis Karakteristik Masyarakat (Studi pada Koperasi Mitra Manindo, Kabupaten Mandailing Natal, Sumatera Utara) Nasution, Lokot Zein
Islamic Circle Vol. 1 No. 1 (2020): Islamic Circle
Publisher : Prodi Hukum Ekonomi Syari'ah STAIN Mandailing Natal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56874/islamiccircle.v1i1.97

Distribution of Islamic microfinance is often constrained by the characteristics of the poor who tend to be conservative. This has implications for the difficulty of efforts to improve the welfare of the poor through increased work ethic and productivity. Various discourses propose the application of risk management based on mapping the characteristics of the poor in the distribution of micro-scale financing, including for the sharia segment. Therefore, this study aims to analyze the characteristics of the poor as the basis for risk management of Islamic micro finance. This research takes a case study on the Mitra Manindo Cooperative in Mandailing Natal Regency, North Sumatra Province. The research method was carried out by taking 102 research samples using questionnaires and analyzed through the development analysis approach. The results of the study concluded that: (i) Mitra Manindo Cooperative members have different business characteristics and performance; (ii) each member has a different level of business problems; and (iii) each member has different characteristics, especially in the work ethic. Characteristics of members in general can be categorized into four clusters, namely dynamic, active, passive, and potential. Based on these results, a cluster-based management method is needed which has implications for the urgency of financing management as a form of financing mitigation. Characteristic mapping is an effort to reduce the uncertainty (gharar) of sharia microfinance governance that emphasizes the importance of transparency, fairness, and equity. This finding can be a proliferation in constructing the mapping design of the characteristics of the poor as a single segment of microfinance.

Konstruksi Pengembangan Wakaf Saham Dalam Rangka Mengoptimalkan Potensi Wakaf Produktif di Indonesia Nasution, Lokot Zein; Aris, Diba Anggraini
Islamic Circle Vol. 1 No. 1 (2020): Islamic Circle
Publisher : Prodi Hukum Ekonomi Syari'ah STAIN Mandailing Natal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56874/islamiccircle.v1i1.98

Waqf has an important role for improving the quality of development, especially through improving social and economic dimensions. However, the management of waqf on average has not been able to be productively, so that its role for development is still not optimal. This is caused the suboptimal innovation and governance of waqf. The strategy to improve innovation in waqf governance is to create product diversification, one of which is stock waqf. However, the development of stock waqf is constrained by the lack of literature references so that the exploration of the potential and impact of stock waqf is still unknown. Therefore, the purpose of this study is to construct the development of stock waqf in order to optimize the potential of productive waqf in Indonesia. Based on the desk study approach analyzed through literature review, three discussion results can be drawn, namely: (i) the community still has a weak level of knowledge related to stock waqf, which is caused by socialization and literacy that are still low; (ii) the position of stock waqf in the constellation of Islamic financial ecosystem is still weak; and (iii) there are two models of implementing stock waqf that can be done, namely waqf that comes from the profits of stock investors, and waqf that makes Islamic stocks as an object of waqf. To construct the development of stock waqf, policy strengthening is needed, which includes the authorities of the Ministry of Finance, the Ministry of Religion, BWI, BI, and OJK.

Peran Lembaga Pembiayaan Syariah dalam Mempercepat Pemulihan UMKM di Masa Pandemi Nasution, Lokot Zein
Islamic Circle Vol. 2 No. 1 (2021): Islamic Circle
Publisher : Prodi Hukum Ekonomi Syari'ah STAIN Mandailing Natal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56874/islamiccircle.v2i1.491

Covid-19 pandemic has not only impacted the health sector, but also social, political, security, and especially the economic sector. Various empirical studies prove that the Covid-19 pandemic has significantly reduced market demand due to social activities and trade transactions. SMEs are one of the most powerful business actors, and a threat to business in the long term. The source of the problem is the low accessibility of financing, including the non-optimal use of sharia financing during the pandemic. how this can be done to find and explore Islamic financing institutions that can be done in the recovery of pandemic MSMEs. Based on a review of the study literature, it was found that Islamic financing has advantages in the form of the principle of risk sharing to overcome the vulnerability of SMEs businesses. Another advantage lies in sharia guidelines that are in accordance with democracy, and the application of the precautionary principle. In Islamic financing, there is no party who benefits above the loss of the other party, and there is no unilateral or repressive treatment to other parties. The advantage it has is that Islamic financing must be conditioned to suit business needs, equipped with an empowerment model as part of the SMEs financing scheme. For this reason, the government needs to encourage the Islamic finance ecosystem as a foundation in developing Islamic financing institutions for the recovery of SMEs during the pandemic.

Determinan Penentu Inovasi Pengembangan Pembiayaan Mikro Syariah bagi Penguatan Daya Saing UMKM Aris, Diba; Nasution, Lokot Zein
Islamic Circle Vol. 1 No. 2 (2020): Islamic Circle
Publisher : Prodi Hukum Ekonomi Syari'ah STAIN Mandailing Natal

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56874/islamiccircle.v1i2.687

Abstrak Pembiayaan mikro syariah telah diakui secara global mampu menciptakan penguatan daya saing UMKM. Keunggulan yang ditawarkan diantaranya adalah menghindari riba, penerapan sistem bagi hasil, mempromosikan keadilan, menghindari ketidakpastian, dan menghindari spekulasi. Meski demikian, kinerja pembiayaan mikro syariah sampai saat ini belum optimal karena masih tingginya tantangan yang dihadapi. Untuk itu, dibutuhkan terobosan inovasi untuk menciptakan optimalisasi peranan pembiayaan mikro syariah bagi penguatan daya saing UMKM. Berdasarkan hasil studi literatur dan deskripsi yang mendalam, inovasi pengembangan pembiayaan mikro syariah dapat dibedakan menjadi tiga ruang lingkup, yaitu: (i) inovasi dari penguatan karakteristik kelembagaan pembiayaan mikro syariah; (ii) inovasi dari penguatan prinsip dan nilai dalam pembiayaan mikro syariah; dan (iii) inovasi penguatan produk dan layanan pembiayaan mikro syariah. Untuk mempercepat ketiga ruang lingkup inovasi tersebut, dibutuhkan tiga langkah strategis yang harus dilakukan, yaitu: (i) percepatan edukasi dan literasi pembiayaan mikro syariah; (ii) penguatan infrastruktur pendukung; dan (iii) penguatan kapasitas Lembaga Keuangan Mikro Syariah (LKMS) dalam menghasilkan efisiensi usaha. Langkah-langkah tersebut diharapkan mampu mengoptimalkan rekayasa inovasi pengembangan pembiayaan mikro syariah bagi penguatan daya saing UMKM yang berkelanjutan. Kata Kunci : Daya Saing UMKM, Inovasi Pembiayaan Mikro Syariah, LKMS Abstract Sharia microfinance has been recognized globally as being able to strengthen the competitiveness of SMEs. The advantages offered include avoiding usury, implementing a profit-sharing system, promoting fairness, avoiding uncertainty, and avoiding speculation. However, the performance of sharia microfinance has not yet been optimal due to the high challenges faced. For this reason, innovation breakthroughs are needed to optimize the role of sharia microfinance for strengthening the competitiveness of MSMEs. Based on the results of a literature study and an in-depth description, innovations in the development of sharia microfinance can be divided into three scopes, namely: (i) innovations from strengthening the characteristics of sharia microfinance institutions; (ii) innovation from strengthening principles and values ??in sharia microfinance; and (iii) innovation to strengthen sharia microfinance products and services. To accelerate the three scopes of innovation, three strategic steps must be taken, namely: (i) acceleration of Islamic microfinance education and literacy; (ii) strengthening of supporting infrastructure; and (iii) strengthening the capacity of Islamic Microfinance Institutions (LKMS) in generating business efficiency. These steps are expected to be able to optimize engineering innovations for the development of sharia microfinance to strengthen the sustainable competitiveness of SMEs. Keywords : SMEs Competitiveness, Sharia Microfinance Innovation, LKMS

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