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All Journal CITIZEN: Jurnal Ilmiah Mulitidisiplin Indonesia Formosa Journal of Sustainable Research (FJSR)
Mufti, Ridho
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Religion Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Industrial & Manufacturing Engineering Social Sciences

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Manajemen Risiko Perusahaan Pembiayaan Syariah di Indonesia Mufti, Ridho; Fatwa, Nur; Sobari, Nurdin; Rini, Nova
Citizen : Jurnal Ilmiah Multidisiplin Indonesia Vol. 5 No. 1 (2025): CITIZEN: Jurnal Ilmiah Multidisiplin Indonesia
Publisher : DAS Institute

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.53866/jimi.v5i1.660

Abstract

Non-bank financial institutions, particularly Islamic financing companies, play a strategic role in supporting national economic activities. Islamic Financing Companies, either as fully-fledged companies or Sharia Business Units (UUS), face various complex risk challenges. According to data from the Financial Services Authority (OJK), the assets of Islamic financing companies increased significantly from IDR 27.85 trillion (2023) to IDR 33.67 trillion (2024), although their market share remains limited to below 6%. Amid these dynamics, the implementation of risk management becomes a critical element to ensure stability, sustainability, and compliance with Sharia principles. This study employs a descriptive qualitative approach through library research, analyzing the risks, principles, standards, stages, and strategies of risk management in Islamic financing companies, as well as their practices in the industry. The findings indicate that companies such as PT. Astra Sedaya Finance and PT. Sharia Multifinance Astra have adopted comprehensive risk management strategies, including internal risk control, risk oversight through risk management and compliance functions, and independent internal audits. This approach is integrated with anticipatory measures, such as policy updates, information technology development, human resource empowerment, and the implementation of business continuity plans. By adhering to ISO SNI 31000 standards and OJK regulations, these companies effectively identify, measure, monitor, and manage eight key risks, including strategic, operational, and compliance risks. This study emphasizes that the implementation of integrated and continuous risk management not only strengthens the companies’ competitiveness but also enhances stakeholder confidence in addressing the challenges of the dynamic Islamic financing industry.
Product and Distribution Channel Innovation to Enhance the Growth of Islamic Financing Companies in Indonesia Mufti, Ridho; Nurwahidin; Hannase, Mulawarman
Formosa Journal of Sustainable Research Vol. 3 No. 12 (2024): December 2024
Publisher : PT FORMOSA CENDEKIA GLOBAL

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55927/fjsr.v3i12.12629

Abstract

Indonesia, with a Muslim majority population of 87.4% and a growing trend of halal lifestyle, presents a significant opportunity for the growth of Islamic financing companies. However, the market share of Islamic financing companies remains stagnant at 5-6%, despite a significant increase in public awareness of halal products. This study aims to develop product and distribution channel innovations to enhance the competitiveness of Islamic financing companies. The research focuses on refinancing products based on the al-bai’ contract within the framework of musyarakah mutanaqishah (MMQ), which are flexible and relevant to the needs of millennials and MSMEs. Additionally, the study proposes innovations in distribution channels through the integration of financing simulations into corporate websites and mobile applications. The research methodology employs a descriptive qualitative approach, using primary data from DSN-MUI fatwas and secondary data from OJK reports. The findings indicate that Islamic refinancing innovation with al-bai’ in the MMQ framework can provide a practical solution to current limitations of Islamic products while supporting broader Islamic financial inclusion. Digital distribution channels will enhance accessibility and convenience for target markets. Implementing these recommendations is expected to expand the market share of Islamic financing companies and address the evolving needs of society
Co-Authors Hannase, Mulawarman Nova Rini Nur Fatwa, Nur Nurdin Sobari Nurwahidin