Shariah Compliance for Islamic micro financing (Exploratory study in BAITUL MAAL WATTAMWIL in Depok City, Indonesia)

Rizki Ade Setiawan(1), Sepky Mardian(2*),

(1) Sekolah Tinggi Ekonomi Islam SEBI
(2) Sekolah Tinggi Ekonomi Islam SEBI
(*) Corresponding Author

Abstract


This study aims to analyze and evaluate the supervision of shariah compliance in the Baitul  Maal Wattamwil (BMT) in the Depok City. The institutional and system approach is used to see the level of supervision carried out. This study uses primary data through interviews with the shariah supervisory board (SSB) and secondary data in the form of regulations issued by the Ministry of Cooperatives and Small and Medium Enterprises and similar research. This study found that the implementation of sharia supervision through an institutional approach or through a system approach still needed to be improved. In the institutional approach, there are still SSB that have not met the expected qualifications and the coaching process that has not yet run optimally, even though the composition, position, dual position and length of service of SSBs are in accordance with established rules and have been independent in carrying out sharia supervision. Whereas in the system approach carried out by the internal audit function, the external auditor and the Ministry of Cooperatives and Small and Medium Enterprises represented by the Dinas Koperasi have not been running optimally.

 

Keywords:  shariah compliance, shariah supervisory board, baitul maal wattamwil.

Full Text:

PDF

References


Baehaqi, A. (2014) ‘Usulan Model Sistem Pengawasan Syariah Pada Perbankan Syariah Di indonesia’, jurnal Dinamika Akuntansi Dan Bisnis, Vol. 1(2), pp. 119–133.

Beasley, M. S. et al. (2009) ‘The audit committee oversight process’, Contemporary Accounting Research. Wiley Online Library, 26(1), pp. 65–122.

Bonita, S. D. and Anwar, A. Z. (2017) ‘Implementasi Syariah Compliance pada Akad Murabahah dan Ijarah ( Studi Kasus pada KSPPS BMT Fastabiq Jepara )’, Jurnal Ekonomi Syariah Indonesia, VII(2).

Boxenbaum, E. and Jonsson, S. (2017) ‘Isomorphism, diffusion and decoupling: Concept evolution and theoretical challenges’, in The Sage handbook of organizational institutionalism. 2nd Editio. London: Sage Publications London, pp. 79–104.

Chapra, M. U. (2009) ‘The global financial crisis: Can Islamic finance help?’, International Financial Crisis, 01(4), pp. 27–38.

Chapra, M. U. and Ahmed, H. (2002) ‘Corporate governance of Islamic Financial Institutions’, Occasional Paper No. 6, Islamic Research and Training Institute/ Islamic Development Bank, Jeddah, pp. 1–188. doi: 10.1002/jcaf.20374.

Deephouse, D. L. et al. (2017) ‘Organizational legitimacy: Six key questions’, in The SAGE handbook of organizational institutionalism. Sage Thousand Oaks, CA, pp. 27–54.

Dinas Koperasi (2018) Data Koperasi Aktif. Kementerian Koperasi dan Usaha Kecil Menengah.

Fama, E. F. (1980) ‘Agency Problems and the Theory of the Firm’, Journal of political economy. The University of Chicago Press, 88(2), pp. 288–307.

Garas, S. N. and Pierce, C. (2010) ‘Shari’a Supervision of Islamic Financial Institutions’, Journal of Financial Regulation and Compliance, 18(4). doi: 10.1108/13581981011093695.

Hasyim, H. (2018) ‘Regulasi dan Eksistensi Koperasi Syariah di Kota Depok’, Jurnal Ekonomi dan Bisnis Islam Ad-Deenar, 2(02).

Induk Koperasi Syariah (2018) Anggota BMT Se Indonesia.

Islamic Financial Services Board (2019) Islamic Financial Services Industry Stability Report 2019. Kuala Lumpur, Malaysia.

Jaelani, A. (2011) ‘Hisbah dan Market Mechanism: The Morality Study of Market Participants in Islamic Economic Perspective’, Munich Personal RePEc Archive, (69526). doi: 10.3109/15368378209040332.

Jaelani, A. (2013) Institusi Pasar dan Hisbah: Teori Pasar dalam Sejarah Pemikiran Ekonomi Islam. Cirebon: Syari’ah Nurjati Press.

Mardian, S. (2015) ‘Tingkat Kepatuhan Syariah di Lembaga Keuangan Syariah’, Jurnal Akuntamsi dan Keuangan Islam, 3(1), pp. 57–68.

Mardiyah, Q. and Mardian, S. (2016) ‘Praktik Audit Syariah Di Lembaga Keuangan Syariah Indonesia’, Jurnal Akuntabilitas, 8(1). doi: 10.15408/akt.v8i1.2758.

Mulazid, A. S. (2016) ‘Pelaksanaan Sharia Compliance Pada Bank Syariah (Studi Kasus Pada Bank Syariah Mandiri, Jakarta)’, Journal of Madania, 20(95), pp. 37–54. doi: 10.1128/JB.187.4.1254-1265.2005.

Nurhasanah, N. (2013) ‘Pengawasan Islam dalam Operasional Lembaga Keuangan Syariah’, Jurnal MIMBAR, 29(1), pp. 11–18.

Peraturan Otoritas Jasa Keuangan Nomor 12/POJK.05/2014 (2014) Peraturan Otoritas Jasa Keuangan Nomor 12/POJK.05/2014 Tentang Perizinan Usaha Dan Kelembagaan Lembaga Keuangan Mikro.

PERMENKOP dan UKM Republik Indonesia No. 10/Per/M.KUKM/VI/2016 (2016) ‘Pendataan Koperasi, Usaha Kecil dan Menengah’.

PERMENKOP dan UKM Republik Indonesia No. 11/Per/M.KUKM/XII/2017 (2017) ‘Pelaksanaan Kegiatan Usaha Simpan Pinjam dan Pembiayaan Syariah Oleh Koperasi’, pp. 1–47.

PERMENKOP dan UKM Republik Indonesia No. 17/Per/M.KUKM/IX/2015 (2015) Pengawasan Koperasi.

Popper, N. (2013) ‘Islamic banks stuffed with cash, explore partnership in West’, The New York Times.

Sakti, A. (2013) ‘Pemetaan Kondisi Dan Potensi BMT : Kemitraan dalam rangka Memperluas Pasar & Jangkauan Pelayanan Bank Syariah kepada Usaha Mikro’, Jurnal Al-Muzara’ah, 1(1), pp. 1–18.

STEI SEBI (2019) Hasil Wawancara DPS dan Pelaksana Fungsi Pengawasan Syariah. Depok.

Susilo, E. and Anam, A. K. (2018) ‘Sharia Complience Akad Berbasis Natural Uncertainty Contract (NUC) Lembaga Keuangan Mikro Syariah Di Kabupaten Jepara’, Journal of Islamic Economics, 2(1), pp. 20–37.

Syamsuddin, H. (2011) Optimalisasi Pengawasan Syariah di BMT (Tinjauan Regulasi & Analisa). Karanganyar, Jawa Tengah.

Umam, K. (2015) ‘Urgensi Standarisasi Dewan Pengawas Syariah dalam Meningkatkan Kualitas Audit Kepatuhan Syariah’, Jurnal Perhimpunan Mahasiswa Hukum Indomesia, 1(2), pp. 115–138.

Undang-Undang No 21 (2008) Undang-Undang No 21 Tahun 2008 Tentang Perbankan Syariah.

Yaacob, H. and Donglah, N. K. (2012) ‘Shari ’ ah Audit in Islamic Financial Institutions : The Postgraduates ’ Perspective’, International Journal of Economics and Finance, 4(12). doi: 10.5539/ijef.v4n12p224.




DOI: http://dx.doi.org/10.33019/ijbe.v5i2.346

Article Metrics

Abstract view : 24 times
PDF - 10 times

Refbacks

  • There are currently no refbacks.


Creative Commons License
This work is licensed under a Creative Commons Attribution 4.0 International License.

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.