ECONOMIC PROTECTION TOWARD FINANCIAL MANAGEMENT HAJJ FUNDS: INDONESIAN CASE
DOI:
https://doi.org/10.30868/ad.v4i02.953Keywords:
Economic Protection, Financial Management, Hajj FundAbstract
The potential for Haj funds in Indonesia is enormous. However, the long queues to perform the Haj pilgrimage lasted up to 17 years. The state has not wholly-owned facilities for operational needs. This study offers a new model in the management of Hajj funds in Indonesia. The offer in this research is the formation of economic independence protection by developing business units such as accommodation facilities in Mecca and Medina, Hajj planes, tours and trips, catering, hajj and umrah equipment stores, convenience stores, Indonesian culinary specialties, convection, e-payment systems. Hajj, Bottled Drinking Water, Sukuk Investment, and Other Investments. All of the profits from these funds are turned back for capital and business unit development. Thus, all the benefits of the hajj fund will again be felt by the people of Indonesia.
References
Abidin, MZ (2016). Analysis of Hajj Fund Investment in Infrastructure Financing and Improving the Quality of Hajj Pilgrimage Implementation. Harmony, 15 (2), 152–164.
Bagwell, K., & Staiger, RW (2003). Protection and the business cycle. The BE Journal of Economic Analysis & Policy, 3 (1).
Bohara, AK, & Kaempfer, WH (1991). A test of tariff endogeneity in the United States. The American Economic Review, 81 (4), 952–960.
BPKH. (2019). WHAT & HOW: Financial Investment Hajj BPKH. Hajj Fund Management Agency.
Cahyaningdyah, D., & Ressany, YD (2012). The effect of financial management policies on firm value. JDM (Journal of Management Dynamics), 3 (1).
Conybeare, J. (1987). Trade wars: The theory and practice of international commercial rivalry. Columbia University Press.
Deananda, AZ, & Wirdyaningsih. (2020). Alternative Optimization of Hajj Fund Using Sharia Shares. 413 (34), 34–40. https://doi.org/10.2991/assehr.k.200306.176
Denzin, NK (1994). Introduction: Entering the field of qualitative research. Handbook of Qualitative Research.
Enjang. (2020). Criminology Analysis of the Crime of Embezzlement and Fraud of Umrah Funds by Pt.Nabila Travel's Umrah travel organizer agency in Medan. Journal of Law Kaidah: Communication and Information Media of Law and Society, 19 (2), 114–136. https://anjarnawanyep.wordpress.com/konse
Farid, R. (2019). Hajj bailout fund; Problem or Perfect Solution? (Hajj Implementation Policy Evaluation Study). Palita: Journal of Social Religion Research, 4 (2), 107–120.
Fathansyah, MA, & Irwansyah, I. (2019). The Influence of the Hajj Bailout Program in Islamic Banks on the Waiting List for Hajj. Al-Azhar Islamic Law Review, 1 (1), 26–38.
Fayol, H., & Storrs, C. (1949). Administration Industrielle Et Générale. General and Industrial Management ... Translated ... by Constance Storrs, Etc. Sir Isaac Pitman & Sons.
Gallarotti, GM (1985). Toward a business-cycle model of tariffs. International Organization, 155–187.
Grilli, E. (1988). Macro-Economic Determinants of Trade Protection. World Economy, 11 (3), 313–326.
Hansen, JM (1990). Taxation and the Political Economy of the Tariff. International Organization, 527–551.
Heaton, J. (2004). Reworking qualitative data. Sage.
Manu, BD, Zhang, H., Oduro, D., Krampah-Nkoom, A., Mensah, IA, Anaba, OA, & Isaac, A. (2019). School Board Efficiency in Financial Management and Human Resource in Public Senior High Schools: An Evidence from Ashanti Region, Ghana. International Journal of Social Science Studies, 8 (1), 79. https://doi.org/10.11114/ijsss.v8i1.4556
McKeown, TJ (1984). Firms and tariff regime change: Explaining the demand for protection. World Politics: A Quarterly Journal of International Relations, 215–233.
Morrow Jr, JL, Sirmon, DG, Hitt, MA, & Holcomb, TR (2007). Creating value in the face of declining performance: Firm strategies and organizational recovery. Strategic Management Journal, 28 (3), 271–283.
Murtini, U. (2008). Effect of Financial Management Policies on Firm Value. Journal of Accounting and Finance Research, 4 (1), 32–47.
Neergaard, H., & Ulhøi, JP (2007). Handbook of qualitative research methods in entrepreneurship. Handbook of Qualitative Research Methods in Entrepreneurship. https://doi.org/10.4337/9781847204387
Novindri, S. (2013). Jurisprudence Analysis of the Hajj Bailout Fund Agreement at Islamic Banks. Muqtasid: Journal of Sharia Economics and Banking, 4 (1), 27. https://doi.org/10.18326/muqtasid.v4i1.27-53
Rahayu, D. (2020). Analysis of Hajj Bailout Fund Financing in Islamic Business Ethics Perspective. We, 4 (1), 1–20.
Rahman, MF, Shodiq, S., & Humaira, A. (2020). Haji Funds for Infrastructure Investment. Al-Qalam, 26 (1), 167. https://doi.org/10.31969/alq.v26i1.812
Ray, EJ (1987). Changing patterns of protectionism: The fall in tariffs and the rise in non-tariff barriers. Nw. J. Int'l L. & Bus., 8, 285.
Salvatore, D. (1987). The new protectionist threat to world welfare. Elsevier Science Ltd.
Setyawan, A., Wibowo, H., & Kamal, M. (2020). Analysis of Optimization Model of Haji Financial Investment Portfolio in BPKH RI (Hajj Financial Management Agency of the Republic of Indonesia) Journal of Islamic Economics and Banking. Journal of Sharia Economics and Banking, 8 (1), 5–27.
Tho'in, M., & Prastiwi, IE (2016). Analysis of Hajj Bailout Funds Based on Fatwa No. 29 / DSN-MUI / VI / 2002 (Case Study at BPRS Dana Mulia Surakarta). Islamic Economic Scientific Journal, 2 (01).
Trefler, D. (1993). Trade liberalization and the theory of endogenous protection: an econometric study of US import policy. Journal of Political Economy, 101 (1), 138–160.
Downloads
Published
How to Cite
Issue
Section
Citation Check
License
Authors who publish with this journal agree to the following terms:
- Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
- Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
- Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See The Effect of Open Access).