HASBLE Card: Innovation on Company Funding Using Shari'ah Venture Capital Toward Halal Industry in Indonesia

Authors

  • Rifaldi Majid Brawijaya University, 65145 Malang, East Java, Indonesia
  • Billal Andre Agassi Brawijaya University, 65145 Malang, East Java, Indonesia

DOI:

https://doi.org/10.31436/jif.v6i0.269

Keywords:

financing, HASBLE card, halal industry, Shar’iah venture capital firms

Abstract

The growth of the Muslim population in the world is the main driver of growth for global halal products.  In Indonesia, Law No.33 of 2014 on the Guarantee of halal products provides significant opportunities for the development of innovative products given the potential of huge Indonesian Muslim population.  In the process,  requirements to use halal certification in trade as mandated by the national law brings about a dilemma to the halal industry players as well as micro, small, and medium enterprises (SMEs). The problem of capital and funding are the key issues. Stakeholders are faced with the problems of production and sustainability, procurement of equipment and materials production, marketing, and internal reinforcement. This qualitative paper offers a review of the literature.  The purpose of this paper is to understand how the model of innovative funding through Shair’ah venture capital firms spur the growth and development of the halal industry. Halal Sustainable (HASBLE) card is an innovative model of mudharabah and musyarakah transaction, which are realized in a sustainable funding by Shair’ah venture capital firms to halal industry players. The allocation of the profit-sharing is based on the contract by setting some parts aside in the card as productive deposit.  These deposits will be managed as a productive stimulus funds for the maintenance of halal certification, training and business assistance, and the balance of HASBLE card itself. HASBLE card is innovative model that has sustainable funding agreement involving several stakeholders in order to improve productivity, growth, and the existence of halal products in the global trade arena.

 

Downloads

Download data is not yet available.

References

Antonio, M.S. (2001). Bank syariah dari Teori ke Praktik. Jakarta: Gema Insani Press.
Aini, N. (2016). Kadin Nilai Perkembangan Bisnis Produk Halal Luar Biasa. Retrieved from: http://www.republika.co.id/berita/ekonomi/syariah-ekonomi/16/08/01/ob8hxp382-kadin-nilai-perkembangan-bisnis-produk-halal-luar-biasa.
Badri, M.A. (2009). Jual Beli Mudharabah. Retrieved from: https://konsultasisyariah.com/272-jual-beli-mudharabah.html.
BPS. (2012). Tabel Perkembangan UMKM pada Periode 1997-2012. Jakarta: BPS.
Moleong, L. J. (2004). Metode Penelitian Kualitatif. Bandung: Remaja Rosdakarya.
Dewan Perwakilan Rakyat RI. (2014). Undang-Undang Republik Indonesia Nomor 33 Tahun 2014 tentang Jaminan Produk Halal. Retrieved on August 3rd 2015.
Faisal, S. (1999). Format-Format Penelitian Sosial. Jakarta: PT. Raya Grafindo Persada.
Islampos. (2015). LPPOM MUI: Kota Bogor Jadi Pusat Referensi Halal Dunia. Retrieved from: www.Islampos.com.
Lipka, M. (2015). Why Muslims are the world’s fastest-growing religious group. Retrieved from: http://www.pewresearch.org/fact-tank/2015/04/23/why-muslims-are-the-worlds-fastest-growing-religious-group/.
Kementerian Perdagangan RI. (2013). Analisis Peran Lembaga Pembiayaan Dalam Pengembangan UMKM. Jakarta: Pusat Kebijakan Perdagangan dalam Negeri.
Nazir. (2003). Metodologi Penelitian, 5th edition. Jakarta: Ghalia Indonesia.
Majid, R. (2015). Halal card: Solusi Peningkatan Pembiayaan Untuk Industri Halal Dengan Instrumen Wadiah Amanah, Mudharabah dan Musyarakah Serta Dana Zakat Infaq/Shodaqoh (ZIS) Melalui Skema Linkage Bank Syariah dan BAZNAS. Malang: Research Paper at Iqtishoduna Unair 2015.
Majid, R, & Muhammad, S.H. (2016). Farmer Card: Optimalisasi Peran Pembiayaan BMT dalam Mewujudkan Kesejahteraan Sosial Ekonomi Petani. Malang: Research Paper at PRESENT TAZKIA 2016.
Martowardjojo, A. (2016). Gubernur BI Beberkan Masalah Utama UMKM. from: (http://www.jpnn.com/read/2016/06/03/425093/Gubernur-BI-Beberkan-Masalah-Utama-UMKM-)
Nursalikah, A. (2015). Indonesia Berpeluang Jadi Pusat Industri Halal Dunia. Retrieved from: http://nasional.republika.co.id/berita/nasional/umum/15/12/05/nyulym366-indonesia-berpeluang-jadi-pusat-industri-halal-dunia.
Otoritas Jasa Keuangan. (2015). RoadMap IKNB Syariah 2015-2019. Jakarta: OJK RI
Otoritas Jasa Keuangan. (2015). Ikhtisar Data Keuangan Perusahaan Modal Ventura Periode Janari-November 2015. Jakarta: OJK RI.
Rachman, F. (2004). Potensi Industri Syariah yang Belum Tergarap Optimal: Tuntutan akan kebutuhan produk halal merupakan potensi besar jika dilihat dari sisi bisnis. Retrieved from: www.sinarharapan.com.
Rasyid, A. (2016). Sekilas Tentang Perusahaan Modal Ventura Syariah. Retrieved from: http://business-law.binus.ac.id/2016/01/30/perusahaan-modal-ventura/.
Ruslan, Heri. (2014). Hari Ini, Islam Jadi Agama Terbesar Di Dunia. Retrieved from: http://www.republika.co.id/berita/dunia-Islam/hikmah/14/01/13/mzbetu-hari-ini-Islam-jadi-agama-terbesar-di-dunia.
Sahana, M. (2015). Pembiayaan UMKM di Indonesia Masih Rendah. Retrieved from: http://www.voaindonesia.com/a/pembiayaan-umkm-di-indonesia-masih-rendah-/1912090.html.
Sasongko, A. (2016). Korsel Bidik Pasar Halal Dunia. Retrieved from: www.Republika.com.
Sitorus, R. (2015). Saatnya Indonesia Bersaing Manfaatkan Potensi Pasar Halal Dunia. Retrieved from: http://industri.bisnis.com/read/20150708/12/451595/saatnya-indonesia-bersaing-manfaatkan-potensi-pasar-halal-dunia.
Suharso, Y. (2016). Mengenal Jenis Akad Musyarakah. Retrieved from: http://akucintakeuangansyariah.com/21524/mengenal-jenis-jenis-akad-musyarakah/.
The Collaboration team of Dubai Islamic Economy Development Centre, Thomson Reuters and Dinar Standard. (2015). State of the Global Islamic Economy Report. Thomson Reuters
Zahra A. (2012). Analisis Bantuan Modal Dan Kredit Bagi Kelompok Pelaku Usaha Mikro Oleh Dinas Koperasi dan Umkm Kota Semarang. Mini Thesis, Bachelor Program Faculty Economis and Business Universitas Diponegoro.

Downloads

Published

2017-12-31

How to Cite

Majid, R., & Agassi, B. A. (2017). HASBLE Card: Innovation on Company Funding Using Shari’ah Venture Capital Toward Halal Industry in Indonesia. Journal of Islamic Finance, 6, 242–256. https://doi.org/10.31436/jif.v6i0.269

Issue

Section

Articles