INSTITUTIONS SUPPORTING THE CAPITAL MARKET

INSTITUTIONS SUPPORTING THE CAPITAL MARKET

The capital market is a market that is trading in securities (buying and selling) in the form of financial instruments, both in the capital (equity) and debt. The stock market started in the days of the colonial Netherlands, seen from the establishment of the stock exchange in Batavia which was organized by the Vereniging Voor de Effectenhandel on December 14, 1912. The purpose of the capital markets is the Present mechanism of mobilization of resources that lead to an efficient allocation of resources in the economy. Who has the legal basis of law No. 8 year 1995 Regarding capital market, law No. 40 Year 2007 on limited liability, Government Regulation No. 45 of 1995 about the conduct of Activities in the field of capital market, Government Regulation No. 37 year 1995 concerning the procedures of Examination in the field of capital market. As for capital market participants, Minister of finance, capital market Supervisory Agency, the stock exchange, the clearing house and the guarantor, depository institutions and settlement, Custody, investors, securities companies, guarantors of Emis, Securities, brokerage Traders Securities, a fund management company, the Investment Manager, the administrative Bureau of the Effect, the trustee, Investment Advisers, Issuers, mutual funds, accountants, legal consultants, appraisers, the insurer (Gurator), Notary. In the capital markets there are capital market supporting Institutions i.e. the administrative Bureau of the effect, the trustee, custodian, investment advisers, securities ratings, insurer. While professionals in capital markets i.e. accountants, appraisers, consultants, notary.

. 2006.   Arthesa, Ade. 2006. Bank Dan Lembaga Keuangan Bukan Bank. Jakarta : PT Indeks

Fuady, Munir. 1996.  Pasar Modal Modern Tinjauan Hukum. Bandung :Citra Aditya Bakti

Susanto,  Burhanuddin. 2009. Pasar Modal Syariah Tinjauan Hukum. Yogyakarta : UII Press

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Deposits in the context of Islamic banking

Created By: Baerin Oktaviani (11220012)

Deposits in the context of Islamic banking

Accumulation in the Islamic banking products contained in Law No. 10 of 1998 in addition to demand deposits and savings deposits are also found. The term deposits are deposits which may be withdrawn at any given time based on the agreement and bank depositors.[1]

Deposit products because it is intended as a means of investment, then the practice of Islamic banking is only used mudharabah. Through mudharabah this at the beginning of the agreement specified how the profit sharing ratio for both the customers and the Islamic banks them selves.[2]

In this case acts as mudharib Islamic Bank (capital management) while the customer as shahibul maal (owners of capital). Thus the bank as a fund manager can do business with and develop the fund does not conflict with Islamic principles including conducting mudharabah with third parties.

In contrast  to conventional banks that reward depositors in the form of interest for the customers, then the Islamic banks benefits granted to customers in the form of profit sharing ratio agreed with at the beginning of the contract. Therefore,for the time deposits that Sharia is based on the mudaraba contract, since the purpose of keeping funds in the form of savings deposits to invest excess liquidity. It is well established in the DSN 03/DSN-MUI/IV/2000 Number of deposits.[3]

Therefore the position of Islamic Banking as mudharib or manager of capital nature shall have a mandate, has the nature of prudence or wisdom and goodwill and some thing are responsible for any errors or omissions in case. Besides Islamic Bank also acts as the power of business owners expected capital gain optimum benefit to not conflict with sharia.

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[1] RachmadiUsman, ProdukdanAkadPerbankanSyariah di IndonesiaImplementasidanAspekHukum(Bandung: PT Citra AdityaBakti, 2009)hlm: 162

[2] Abdul GhofurAnshori, PenerapanPrinsipSyariahDalamLembagaKeuanganLembagaPembiayaan Dan Perusahaan Pembiayaan. (Yogyakarta:Pustaka Pelajar,2008)hlm:20

[3] Usman, ProdukdanAkadPerbankanSyariah di Indonesia.hlm:165

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