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All Journal Economica: Jurnal Ekonomi Islam Az Zarqa': Jurnal Hukum Bisnis Islam
Dja’akum, Cita Sary
Unknown Affiliation
Religion Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Evaluating the Spin-Off Readiness of Sharia Business Units for Islamic Banking Expansion in Indonesia Dja’akum, Cita Sary; Huda, Nur; Ryandono, Muhamad Nafik Hadi; Mujibatun, Siti; Mursyidi, Ach Fatayillah
Economica: Jurnal Ekonomi Islam Vol. 15 No. 2 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2024.15.2.22696

Abstract

This study aims to evaluate the readiness of Sharia Business Units (SBUs) in Indonesia to undertake the mandated 2023 spin-off, which would result in these units operating independently from their parent banks. The research employs a qualitative approach, with data collected through documentation and literature review. The study focuses on 20 SBUs, which include one unit from a state-owned enterprise (BUMN), 13 units from regionally-owned enterprises (BUMD), and six units from private banks. Findings indicate that approximately 50% of these SBUs are not sufficiently prepared to separate from their parent institutions due to constraints in assets, capital adequacy, and health metrics. This lack of preparedness is compounded by deficiencies in infrastructure and human resources, which collectively affect the financial, operational, and human capital stability of these units. Consequently, the findings suggest that most SBUs are not ready for a spin-off by 2023. Policy implications: The findings underscore the need for regulatory and developmental support to strengthen SBUs prior to spin-off. The study recommends that future policy address the capital and human resource limitations in Islamic banking to ensure successful spin-offs and sustainable growth in the sector.
Reksa Dana Syariah azzarqa, azzarqa; Dja’akum, Cita Sary
Az-Zarqa': Jurnal Hukum Bisnis Islam Vol. 6 No. 1 (2014): Az-Zarqa'
Publisher : Sharia and Law Faculty of Sunan Kalijaga Islamic State University Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/azzarqa.v6i1.1306

Abstract

Kegiatan investasi reksa dana syariah diperbolehkan sebab tidak bertentangan dengan syariah. Reksa dana pada prinsipnya bukan saja memberikan peluang, tetapi bahkan menawarkan beberapa jenis instrumen yang dapat dikembangkan. Reksa dana merupakan alternatif investasi bagi masyarakat dan kesempatan untuk mendapatkan hasil investasi yang lebih baik dalam jangka waktu tertentu.Reksa dana syariah tidak menginvestasikan saham-saham atau obligasi dari perusahaan yang pengelolaan atau produknya bertentangan dengan syariah Islam seperti pabrik makanan/minuman yang mengandung alkohol, daging babi, rokok/tembakau, jasa keuangan konvensional, pertahanan dan persenjataan serta bisnis hiburan yang berbau maksiat. Hal fundamental yang membedakan antara reksa dana konvensional dengan reksa dana syariah adalah adanya proses screening dan cleansing.
Restruktrurisasi Sebagai Alternatif Penyelesaian Pembiayaan Bermasalah Dalam Perbankan Syari’ah azzarqa, azzarqa; Dja’akum, Cita Sary
Az-Zarqa': Jurnal Hukum Bisnis Islam Vol. 9 No. 1 (2017): Az-Zarqa'
Publisher : Sharia and Law Faculty of Sunan Kalijaga Islamic State University Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/azzarqa.v9i1.1430

Abstract

Perkembangan ekonomi dalam pembangunan memiliki keterkaitan yang mendalam terhadap dunia perbankan. Kerjasama keduanya dalam hal opersional sangat dibutuhkan demi kehidupan yang sehat. Pelaku ekonomi dapat terus menjalankan usahanya dengan dana yang  dikucurkan oleh bank sebagai modal untuk usaha yang terus berlanjut dan berkembang. Bank bisa terus berjalan dengan pegelolaan dana yang tepat diantaranya adalah memberikan pembiayaan pada pelaku ekonomi. Dengan kerjasama keduanya maka terjalin simbiosis mutualisme untuk dapat mempertahankan dan melebarkan sayapnya.Managemen bank syariah berbeda dengan dengan bank konvensional hal ini  dijadikan prinsip tersendiri bahwa setiap pelaku usaha menginginkan pembiayaan yang diberikan oleh bank tetapi dengan prinsipnya masing-masing guna memperoleh keyakinan dan kepercayaan. Dengan kemantapan hati diinginkan bahwa kedua belah pihak dapat memeroleh manfaat rohani dan jasmani dalam kerjasamanya. Akan tetapi apakah pembiayaan pada bank syariah sudah sesuap dengan syariat? Terutama dalam hal akadnya? Inilaah yang menjadi kegelisahan bagi penulis untuk dapat membahas dan mengupas salah satu akad pembiayaan yang terdapat di bank syariah.
Spin-Off as a Strategy to Accelerate Islamic Banking Growth in Indonesia: Assessing the Readiness of Sharia Business Units Dja’akum, Cita Sary; Huda, Nur; Ryandono, Muhamad Nafik Hadi; Mujibatun, Siti; Mursyidi, Ach Fatayillah
Economica: Jurnal Ekonomi Islam Vol. 15 No. 2 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2024.15.2.22696

Abstract

Islamic banking in Indonesia has grown significantly in recent years, supported by legal mandates encouraging structural separation between conventional and Sharia banking. This study aims to assess the readiness of Sharia Business Units (UUS) to implement the 2023 spin-off policy. A qualitative research approach was employed, with data collected through documentation and literature review. The study examined 20 Sharia Business Units, including one unit from a State-Owned Enterprise (Bank Tabungan Negara), 13 units under Regionally-Owned Enterprises (BUMD), and six units affiliated with private banks. The findings show that 50% of the assessed Sharia Business Units are not prepared to separate from their parent banks, particularly in terms of asset size, capital adequacy, and overall institutional health. Most UUS lack sufficient capital readiness, infrastructure, and qualified human resources to operate independently. When viewed holistically—across financial, operational, and HR dimensions—the majority of UUS included in this study were not ready for the 2023 spin-off. These findings provide valuable insights for regulators and stakeholders in the Islamic banking industry, particularly in shaping future policies and support mechanisms for Sharia Business Units transitioning toward independence.
Halal Meat Consumption in East Java: The Role of Employement, Manufacturing, and MSME Income Marwini, Marwini; Ryandono, Muhamad Nafik Hadi; Wardhana, Akhmad Kusuma; Ali, Mohammad Mahbubi; Dja’akum, Cita Sary
Economica: Jurnal Ekonomi Islam Vol. 16 No. 1 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2025.16.1.25768

Abstract

The substantial Muslim population in East Java generates significant demand for halal meat products. Manufacturers and Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in shaping the region’s total halal meat production. This study investigates the influence of the number of workers, manufacturing operating income, and seasonal income of halal meat MSMEs on halal meat consumption in East Java province, Indonesia. Secondary data were collected from seven cities across the province over the period 2003–2022, using a purposive sampling technique. The data were analyzed using a static panel regression model via EViews version 12. The findings reveal that only the variable representing total manufacturing income in the halal meat sector has a statistically significant partial effect on overall halal meat consumption in the selected cities. This suggests that manufacturing enterprises possess distinct advantages over MSMEs in contributing to consumption levels. Conversely, the number of workers in the halal meat sector does not exhibit a significant influence on total meat consumption.
Co-Authors Ali, Mohammad Mahbubi azzarqa, azzarqa Marwini Marwini Muhamad Nafik Hadi Ryandono, Muhamad Nafik Mursyidi, Ach Fatayillah Siti Mujibatun Wardhana, Akhmad Kusuma