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SIMULASI ISLAMIC FORWARD AGREEMENT PADA PEMBIAYAAN VALAS BANK SYARIAH DI INDONESIA

Jurnal Ekonomi dan Bisnis Islam

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Title SIMULASI ISLAMIC FORWARD AGREEMENT PADA PEMBIAYAAN VALAS BANK SYARIAH DI INDONESIA
 
Creator ARSYI, WUSHI ADILLA
 
Subject Economy and Business
 
Description AbstractThe fluctuating exchange is so risky and can cause the loss to Islamic Banks. The hedging instrument on the exchange rate based on Islamic principles to manage this risk is needed. Dewan Syariah Nasional Majelis Ulama Indone­sia (DSN MUI) has issued a fatwa related to it in fatwa No. 96/DSN-MUI/IV/2015 about Islamic Hedging Transactions (al-Tahawwuth al-Islam) on exchange. Given this fatwa, hedging simulation with forward agreement scheme may be applied in USD financing product in Islamic Bank. The research method used is simulation and comparison method between the out­standing of forex financing and premium and tenor of forward references. The result of this study shows that Islamic banks will benefit if doing islamic forward agreement. The reference premium and tenor recommended for calculating this Islamic forward agreement transactions based on the results of the research is the rate of return of FASBIS with a tenor of 6 months, with a gain of 3,461 trillion rupiah. This amount represents the highest potential nominal gain compared to other simulation results. Nevertheless, the use of FASBIS rewards are not always recommended and is only used temporarily in certain moments. However, when compared to conventional-based reference premiums, premium benchmark rate of FASBIS return may be an op­tion for islamic banks and businesses to calculate the rate forward of Islamic forward agreement transactions.Keywords: ‘Aqd at-Tahawwuth al-Basith, Forex Finance, Forward Contract, Hedging, Islamic Forward Agreement
 
Publisher Fakultas Ekonomi dan Bisnis Islam Universitas Islam Negeri Imam Bonjol Padang
 
Contributor —
 
Date 2016-06-01
 
Type info:eu-repo/semantics/article
info:eu-repo/semantics/publishedVersion
Peer-reviewed Article
Literary Analysis; Survey/Interview
 
Format application/pdf
 
Identifier http://journal.febi.uinib.ac.id/index.php/jebi/article/view/9
 
Source JEBI (Jurnal Ekonomi dan Bisnis Islam); Vol 1, No 1 (2016): Januari - Juni 2016; 107-122
2528-4274
2528-4266
 
Language ind
 
Relation http://journal.febi.uinib.ac.id/index.php/jebi/article/view/9/pdf
http://journal.febi.uinib.ac.id/index.php/jebi/article/downloadSuppFile/9/9
 
Rights Copyright (c) 2016 JEBI (Jurnal Ekonomi dan Bisnis Islam)
http://creativecommons.org/licenses/by-nc-sa/4.0