Economics During Global Recession: Sharia-Economics as a Post COVID-19 Agenda

Aryati ARFAH,Fahruddin Zain OLILINGO,S. SYAIFUDDIN,D. DAHLIAH,N. NURMIATI,Aditya Halim Perdana Kusuma PUTRA 한국유통과학회 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.11

This research is a literacy study regarding the implementation and management of the economic role of haria as a new strategy in overcoming the problem of the global financial crisis that has hit the middle of the COVID-19 pandemic. The research method comes from previous studies to compare the capitalist, socialist, and sharia economic systems. In response to various economic uncertainties, both internal and external, the ability to seize opportunities and transform has become the key to economic resilience. Islamic economics can be an alternative in responding to the dynamics of the global and national economy. Several things need to be taken into consideration in fulfilling the sharia economy and the primary strategy chosen must come from the inputs given by the stakeholders, including business actors, associations, regulators as well as experts, and academicians. The primary strategy in implementing the sharia economy also requires the support of various parties in order to develop sustainability. Strengthening regulation and governance is one of the fundamental factors. Optimization of the sharia economy based social sector such as Zakat, Infaq, Sadaqah, and Waqaf can be optimized both for collection and distribution so that the concept of sharing can certainly support the development and the economy both nationally and globally.

Opportunities and Challenges of Conversion of Sharia Regional Development Banks in Economic Development Efforts and Income Distribution

Rizal(Rizal ),Nil FIRDAUS(Nil FIRDAUS ),Ruslan Abdul GHOFUR(Ruslan Abdul GHOFUR ),Heni NOVIARITA(Heni NOVIARITA ),Pertiwi UTAMI(Pertiwi UTAMI ) 한국유통과학회 2023 유통과학연구 Vol.21 No.2

Purpose: This study examines the opportunities and challenges of sharia-based regional development bank spin-offs in supporting economic growth and income distribution through a board of commissioner’s approach. Research design, data, and methodology: The research design is qualitative research with the main data collection technique through in-depth interviews. Results: The results of the study show that Bank Nagari can support the performance of the West Sumatra government, especially in regional finance. The positive influence is shown in the benefit aspect of 31% and the opportunity of 28% which is the priority value. The challenges that must be faced are technology services, improving the quality of human resources, socialization, and application of local wisdom which is by the philosophical values of the people of West Sumatra Adat Basandi Syara’ Syara’ Basandi Kitabullah. Conclusions: It can be concluded that the local government of West Sumatra has an essential contribution to the conversion of Bank Nagari to RDB Syariah as a whole. The expected implication is that the local government and shareholders cooperate well in supporting the transformation to realize West Sumatra Mandani through the populist economy of the people of West Sumatra.

윤리적 가치체계 측면의 이슬람경제에 대한 분석

김중관(Kim, Joong-Kwan),이종화(Lee, Jong-Wha),통갈륵(Tungalag. J),안정국(Ahn, Jung-Kook) 한국중동학회 2012 韓國 中東 學會 論叢 Vol.32 No.3

Islamic economics is a economics in accordance with Islamic law. Islamic economics can refer to the application of Islamic law to economic activity either where Islamic rule is in force or where it is not; i.e. it can refer to the creation of an Islamic economic system, or to simply following Islamic law in regards to spending, saving, investing, giving, etc. where the state does not follow Islamic law. The former paradigm, particularly as developed by modern Shia scholars such as Mahmud Taleqani, and Mohammad Baqir al-Sadr, seeks not only to enforce Islamic regulations on issues such as Zakat, Jizya, Nisab, Khums, Riba, insurance and inheritance, but to implement broader economic goals and policies of an Islamic society. It seeks an economic system based on uplifting the deprived masses, a major role for the state in matters such as circulation and equitable distribution of wealth and ensuring participants in the marketplace are rewarded by being exposed to risk or liability. Islamic system can be described as being neither Socialist nor Capitalist, but a third way with none of the drawbacks of the other two systems. The latter paradigm is of necessity more limited, revolving around a few main tenets of Islam: the payment of zakat charity by believers, borrowing and lending without payment of interest (riba), and socially responsible investing. The key difference from a financial perspective is the no-interest rule since most other religions favor charitable giving and socially responsible investing. The belief that the prohibition of investment with interest charges is essential for an Islamic society is widespread, though liberal movements within Islam may deny the need for this prohibition, since they see Islam as generally compatible with modern secular institutions and law. Islam accepts markets as the basic co-ordinating mechanism of the economic system. Islamic teaching holds that the market, through perfect competition, allows consumers to obtain desired goods, producers to sell their goods, at a mutually acceptable price.

이슬람 경제정의와 호모이슬라미쿠스에 관한 연구

김종도 ( Jong Do Kim ),안정국 ( Jung Kook Ahn ) 한국외국어대학교 중동연구소 2012 중동연구 Vol.31 No.2

Homoislamicus, or “Islamic man” can be qualified as one needs to operationalise Islamic principles in every aspects of his(her) life. Timur Kuran argues that religious norm are not enough to change people`s economic behaviour in creating Homoislamicus when they face the problem of maximising their utilities and welfare. The discussion indicates that Islamic economics aimed at a world order, where the ontological and epistemological sources namely the Qur`an and hadith determine the framework of the economic value system, the operational dimension of the economy and also the behavioural norms of the individual Muslims. Islamic economics, thus, is an “approach to, and process of, interpreting and solving the economic problems of human beings based on the values, norms, laws and institutions found in, and derived from the sources of Islam”. It seeks an economic system based on uplifting the deprived masses, a major role for the state in matters such as circulation and equitable distribution of wealth and ensuring participants in the marketplace are rewarded by being exposed to risk or liability. As a form of universally applicable theory about human beings` economic behaviour, economic theory necessarily is in accord with and confirms the source of universal knowledge, the Qur`an, homoislamicus and homoeconomicus are one and the same”

Islamic Humanity: A New Approach to Minimizing Non-Performing Financing at the Islamic Bank in Indonesia

ROZIQ, Ahmad,ABSHOR, Faqih Ulil,SULISTIYO, Agung Budi,SUMANI, Sumani Korea Distribution Science Association 2020 The Journal of Asian Finance, Economics and Busine Vol.7 No.12

NPF Islamic banking needs to be resolved because it affects banking performance in terms of income and the quality of its productive assets. This study aims to solve problems of non-performing financing and assess and analyze whether the implementation of the Islamic Humanity model can reduce the problem of financing at Bank Syariah Mandiri Indonesia. The study uses qualitative method with Miles and Huberman approach for analizing data through four steps which are; (a) data collection (b) data reduction (c) data display, and (d) conclusion drawing/verification. The results of the study found non performing financing can be reduced with using a new approach namely the Islamic Humanity Approach, which is an interaction between several aspects, namely (a) spiritual aspects, (b) economic aspects, (c) social aspects, and (d) justice aspects. The Islamic humanity model carried out in problem-solving activities at Bank Syariah Mandiri Indonesia includes a friendly approach, communication and deliberation in a family, respect for people, empathy, the concept of justice, and the concept of prayer. Islamic humanity approach shows success in reducing non-performing financing. The research concluded Islamic humanity as a new approach to reduce non-performing financing at Bank Syariah Mandiri Indonesia and it can be implemented to all Islamic banking in Indonesia.

사우디아라비아의 외국투자법 연구

김종도 인문사회 21 2020 인문사회 21 Vol.11 No.2

This paper aims to study the composition and content of the 'Saudi Arabia's Foreign Investment Law'. To this end, we first looked at the foreign investment policy and investment environment that Saudi Arabia has implemented through foreign investment attraction to prepare for the era of de-petroleumization and oil depletion. We examined what kind of statutes related to ‘foreign investment’ in Saudi Arabia, which took concrete steps to do this. In particular, as a result of joining the WTO in 2000, Saudi Arabia Foreign Investment Law was significantly amended to provide equal benefits to domestic and foreigners, and the investment method was also established to enable the establishment of a joint venture between Saudi Arabian and foreigners or foreigners alone. It can be seen that Saudi Arabia's foreign investment law is equipped with hardware but has no specificity in terms of software for example, in the case of a dispute.

17-18세기 오스만사회의 변화와 도시 여성의 삶과 지위

이은정(Yi Eunjeong) 동양사학회 2006 東洋史學硏究 Vol.96 No.-

Women's status in Islamdom has been a sensitive problem provoking debates for decades. The prevalent impression has been that women in Islamdom were consistently repressed from the Abbasid Caliphate down to the Western impact of modernity, and that perspective is related to the idea that Islamic societies have stagnated due to their underpinnings of 'unchanging'sharia. As a response to this stereotype, I hope to give a refutation by showing that the Ottoman urban societies and the women who lived in them were dynamically changing. The research on this front is unfolding only now. Middle-class women in the troubled seventeenth and eighteenth centuries actively claimed their legal rights through proactive lawsuits, and elite women who were connected to the politics of household cultivated their political and social influence, Women started participating in the pleasurable events of the Tulip Period (1718-1730), and the uninhibited behavior of some women gave rise to concerns about corrupt sexual morals. Women invested assets in all kinds of profitable ventures and proactively secured and protected their livelihood. Thus, women were not necessarily isolated in harem, but rather they generally played weighty social and economic roles in a way that was not so readily visible. Of course the roles and leverages that women of this period had were limited by the restrictions put by the pre-Tanzimat Ottoman society, and their power was put into effect mostly through the family and household networks. Nonetheless, we can find in every period examples In which women's roles and status changed In historical conjunctures, and the Ottoman women who displayed various unconventional behavioral patterns make a case in point. Thus we outsiders may not preclude that Islamic women are unable to make change in their own social context. Although there is no reason to embellish the lives of pre-modern Islamic women, the very diverse possibilities they demonstrated shed new light on the present situation and show the significance of employing historical approaches to women's history.