It is argued that a Bitcoin-style money-like informational commodity may constitute an effective instrument for the further development of Islamic Finance. The argument involves the following elements: (i) an application of circulation theory to Bitcoin with the objective to establish the implausibility of interest payment in connection with Bitcoin, (ii) viewing a Bitcoin-like system as a money-like exclusively informational commodity with the implication that such a system need not support debt, (iii) the idea that Islamic Finance imposes different requirements compared to conventional financial policies on a money concerning its use as a tool for achieving social and economic objectives, and (iv) identification of two aspects of mining, gambling and lack of trust, that may both be considered problematic from the perspective of compliance with the rules of Islamic Finance and a corresponding proposal to modify the architecture of mining in order to improve compliance with these rules.
Journal of Anthropology and Archaeology is a peer-reviewed international journal, which publishes original papers promoting theoretical, methodological and empirical developments in the discipline of socio-cultural anthropology.
Objective - This paper was aimed to explain the development of Islamic banks and their contributions in Indonesia local development. Methodology/Technique - The paper described data on essential financial data of Islamic bank in 8 provinces in Indonesia mainly in their economic growth, percentage of population living under the poverty line, along with Islamic financial indicators, i.e. asset, third parties fund, and financing. Findings - The results indicate that Islamic banks accomplish impressive financial performance reflected in fast growing in asset, third parties fund, and financing. In terms of financial intermediaries, Islamic bank also performs well as presented in a larger share of financing compared to third parties fund. Islamic banks are also resilient to local short-run shocks in the economy. However, the relation between these financial indicators with economic indicators is not likely very supportive mainly because Islamic bank's limited market share and issue in financial inclusion in Indonesia. Novelty - As a preliminary research in the relation between Islamic finance and local development particularly in a new emerging decentralized economy, this paper bear a worthy endeavour in expanding this field of study in the future. Type of Paper: Review Keywords : Local Development, Islamic Bank, Financial Intermediaries, Economic Growth, Poverty.
Funds of district development sourced from district of earning and budgeting (APBD) constrained when source of revenue rely on district revenue (PAD) as like as taxes. An act penetration innovatory solution is needed to solve the budget deficit problem such as the potency of Sharia bonds (Sukuk). This article discusses what kinds of potency that become strengths and weaknesses then how opportunities and challenges are faced by Banten Province in an effort to take advantage of sukuk as the source of development budgeting in Banten. Furthermore, what strategis are effective to apply in an attempt to make sukuk as the source of development budgeting in Banten. An analysis of classical SWOT (SWOT Analysis-K) used to solve the problem above. First step of SWOT-K analysis is identifying the internal and external factors faced by the Banten province to take advantage of sukuk as a source of development budgeting in Banten. Second is making combination of internal and external factors. Final step is formulating appropriate strategies to be sukuk as an alternative of development funding in Banten.
 Result of SWOT-K anafysis in Banten Province has the power of aspects of economic resources as basic capital to make use of sukuk for regional development budgeting. Whereas there are two weakness become obstacles, there are human resources and government management. Besides, the market opportunity to make use of sukuk is widely open because Banten Province is one of the provinces that have a positive economic growth. Opportunities become greater with decentralization right in district financial management, but faced challenges are none of juridis basis for the implementation of district sukuk. The existence of UU SBSN does not yet give potency for district to take advantage of sukuk as APBD because the utilization of new sukuk is allowed for APBN. Priority strategic is improving the quality of human resources in field of Sharia finance by increasing professionalism and accountability in management. Improvement of the
 quality of human resources is accompanied by efforts to encourage the central government and the legislature to revise the constitution of governing district finances in order that accommpodate the source of society loans as instrument of district Sharia bonds (sukuk).
 Keywords: Budgeting, Bonds, Sukuk, Banten, APBD.
This study attempted to investigate the An assessment on Decentralized Service Delivery in the \nHealth Sector in Ahferom Wereda which is one of the administrative divisions of Tigray National \nRegional State. The main objectives of this study was to examine adequate human resources and \nhealth service availabilities including pharmaceutical commodities, the local level health \nservice delivery arrangements in terms of accountability, the institutional capacity of local \ngovernment in implementing and coordinating decentralized health service programs and \npolicies and identify the challenges of decentralized governance in the process of health service \nprovision. The study used a descriptive survey research design and employed both qualitative \nand quantitative data types, specifically semi -questionnaires, semi-structured interviews and \nfocus group discussion. In addition to this, study was employed both primarily and secondary \nsources of data. The sampling designs used in this study are both probability and non probability \nsampling designs. These are, purposive, clustered, lottery method, proportionate sampling and \nfinally convenience sampling was employed. For the purpose of this, the study used a sample of \n190 house hold heads. In addition to this, the study used 20 key respondents purposely. The key \nrespondents with regard to this objective were officials in health related management and health \nservice providers of the wereda .The major findings of this study reveals that though \ndecentralization is contributing better health services availability, it constrains ensuring of \nadequate human recourse, geographical accessibility and adequate pharmaceutical commodities \nfor better health service delivery to the public. Besides, there is failure of accountability in \nrelation to financial planning, reporting and implementation of activities, the availability of \nchanneling procedures for complaints, strong institutional capacity in terms of leadership, \nhuman resources management and financial management capacity. In relation to the challenges \nin health service delivery; shortage of sufficient and competence human racecourses, inadequate \npharmaceutical commodities, insufficient financial resources and weak leadership are identified \nas the major challenges. The study recommended organizing public to participate in financing \nand health service delivery, enhancing leadership and improvement, filling vacancies and \nenhancing competency of the staff, strengthening standardized auditing instrument and \nimproving and strengthening inter-organizational relations with different NGOs are more \nrelevant.
Micro Financing Institutions (MFIs) loan provision to poor is proving as a key strategy for poverty alleviation and inadequate access to credit by the poor has been identified as one of the contributing factors to poverty. To this end, this studies aims at assessing linkages between MF loans Provision in line with local economic development and provide basis for policy formulation at regional and national level in regard to MFIs and LED. To attain this objective, studies from Ethiopia and other countries have been reviewed. Empirical reviews showed that these institutions provided opportunities for self-employment; improved women's security; autonomy, self confidence and status within the society and household; helped in improving children’s Education. Above all, as pro-poor program; they targeted the most vulnerable groups in society, particularly women, who remain confined to households with little or almost no assets. In Ethiopia, great efforts are being made since last two decades by expanding MFIs loan provision services to the various groups of the people specifically the poor to facilitate poverty reduction effort. Despite the increasing reliance on MFIs as one of the instrument to reduce poverty in Ethiopia; very little work has been undertaken to examine the linkage of the microfinance expansion with local economic development (LED) strategy of the particular region. The studies reviewed revealed that there has been duplication of business undertaken in various parts of the region. This is due to lack of linkage and synergy of the loan provision by MFIs to the LED strategy of a given local area in particular and regions in general. The reviewed literature indicated that on account of decentralization of the development plan to optimize the potential of each region and mobilize resources; the local governments have been empowered to undertake social and economic development endeavor. It has also been found that, the Growth and Transformation Plan (GTP) (2010/11-2014/15) and LED were closely aligned. The interconnection between GTP and LED existed directly through the micro-small scale enterprises (MSE), cooperatives and other associations. Since LED aims to create efficient and functioning local economies as a consequence it has a direct alignment with growth and transformation efforts. Therefore, linking the microfinance loan provision to the local development priority appeared is very critical for the sustainability of the MSE businesses to benefit from local available potential resources for poverty alleviation program. Empirical evidences reflected that the current urban policy, the MSE strategy and the regional development framework provided additional opportunities for the implementation of LED and creating synergy between MFIs & MSE in Ethiopia. In light of the above view, the current MFIs loan provisions and local development priority of various regions as very important point of emphasis unseen in Ethiopia. Moreover, the findings of the study revealed that there is clearly identified lack of synergy between MFIs, MSE, Cooperatives Agency, Local administrative apparatus and LED in various regions in Ethiopia. This necessitates the stakeholders have to set policy that fills up the gap and create strong linkage between MFIs loan provisions to LED priority of particular regions to assure the sustainability of MSE businesses; and enhances the contributions of MFIs for poverty alleviation in Ethiopia. All in all, the researcher recommends that both Federal, regional government and other concerned stakeholders to work towards digging deeper to find keys to success. Key words : MFIs Loan Provision, Linkages, LED strategy
Thorsten Beck, Asli Demirgüç‐Kunt, María Soledad Martínez Pería
Using data from a survey of 91 banks in \n 45 countries, the authors characterize bank financing to \n small and medium enterprises (SMEs) around the world. They \n find that banks perceive the SME segment to be highly \n profitable, but perceive macroeconomic instability in \n developing countries and competition in developed countries \n as the main obstacles. To serve SMEs banks have set up \n dedicated departments and decentralized the sale of products \n to the branches. However, loan approval, risk management, \n and loan recovery functions remain centralized. Compared \n with large firms, banks are less exposed to small \n enterprises, charge them higher interest rates and fees, and \n experience more non-performing loans from lending to them. \n Although there are some differences in SMEs financing across \n government, private, and foreign-owned banks - with the \n latter being more likely to engage in arms-length lending - \n the most significant differences are found between banks in \n developed and developing countries. Banks in developing \n countries tend to be less exposed to SMEs, provide a lower \n share of investment loans, and charge higher fees and \n interest rates. Overall, the evidence suggests that the \n lending environment is more important than firm size or bank \n ownership type in shaping bank financing to SMEs.
ABSTRACT\nPrioritizing public tramjport in large cities requires huge amount of money.\nIn Kuala Lumpur for example, public transport services are relatively poor and inefficient due in part to the inability by the major operators to mobilize ample investment capital. Besides, the new funding systems such as the Public Transportation Trust Fund (PTTF) may not be able to solve the problem because they are still unclear and incoherent. Other key challenges are: lack of a pro-transit policy. rapid motorization. urban decentralization as well as dependence on fare\nrevenue and banks to fund new investments. CrucianF. due to the poor design of private rail concessions, government intervention has been inevitable.\n\nKeywords: large cities, public transit, Kuala Lumpur, funding
The current economic problems in Southeast Asia can be attributed not to too much reliance on financial markets, but to too little . Like the U.S. economy a century ago, the emerging Asian economies do not have welldeveloped capital markets and so remain heavily dependent on their banking systems to finance growth. For all its benefits, banking is “not only basically 19th‐century technology, but disaster‐prone technology.” The extreme maturity (and, in some cases, currency) mismatch on banks' balance sheets plus the first‐come, first‐served nature of the deposit obligations mean that banks are inherently vulnerable to massive runs by depositors—and that their economies are subjected to periodic credit crunches. And, as the author says, “in the summer of 1997 a banking‐driven disaster struck in East Asia, just as it had struck so many times before in U.S. history.” In this century, In this century, the U.S. economy has steadily reduced its dependence on banks by developing “dispersed and decentralized” financial markets. In so doing, it has increased the efficiency of the U.S. capital allocation process and reduced its susceptibility to the credit crunches that have occurred throughout U.S. history. By contrast, Japan has not reduced its economy's dependence on banks, and its efforts to deal with its banking problems have served only to destabilize itself as well as its neighbors. Developing countries in Southeast Asia and elsewhere are urged not to follow the Japanese example, but to take measures aimed at developing financial markets and institutions that will either substitute for or complement bank products and services.