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All Journal Ekonomi Islam Indonesia Management and Sustainability
Irfan Nurfalah
SMART Indonesia
Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences

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Monetary Stability under Dual Banking System before Covid-19 Pandemic in Indonesia Irfan Nurfalah; Ahlis Fatoni
Ekonomi Islam Indonesia Vol. 5 No. 1 (2023): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v5i1.229

Abstract

The Indonesian monetary authority or the Central Bank of Indonesia has established a policy in accordance with the constitution No. 3 in 2004, the monetary policy taken by Central Bank of Indonesia is the inflation targeting framework (ITF). To achieve this, Central Bank of Indonesia established intermediary policies which are regulating the volume of the money supply, stipulating the minimum reserves banking and regulating credit or financing. From some of these intermediary policies, the authors are interested in researching monetary policy in the dual monetary system in Indonesia, where the instruments used by each monetary system are different, so which system is the most stable and sustains Indonesia's growth and which system is the best to achieve ITF goals. The method used is Autoregressive Distributed Lag (ARDL) with data from 2010-sep 2018. The results show that the instruments used in conventional monetary systems based on interest rates have no influence on economic growth, whereas instruments in the Islamic monetary system have an influence on economic growth.
The Role of BMT in Improving Household Financial Management Irfan Nurfalah; Muhammad Taufiq
Management and Sustainability Vol. 1 No. 1 (2022): Management & Sustainability
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/ms.v1i1.283

Abstract

Lack of capital is a major obstacle in doing business, especially when the business is classified as a micro small business. The capital factor is an obstacle to the development of a business. So if this micro small business owner wants to expand, he must borrow or credit to credit institutions such as : BPR, BPRS, Banks and other financial institutions. However, a new problem arises from BPR, namely that the minimum credit for businesses is Rp. 5 million plus interest. In response to this, Islamic economic experts created a concept of financing and savings up to a nominal value below Rp. 1 million even Rp. 100 thousand is still served. The financial institution is Baitul Maal wat Tamwiil (BMT). BMT is a solution for individuals who have home-based businesses to expand. This study will look at the role played by BMT and how maqasid sharia reviews this role.
Co-Authors Ahlis Fatoni Muhammad Taufiq