Proceedings of the 3rd International Conference of Islamic Finance and Business, ICIFEB 2022, 19-20 July 2022, Jakarta, Indonesia

Research Article

Managing Arisan as An Alternative Islamic Finance Based on Its Critical Risk

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  • @INPROCEEDINGS{10.4108/eai.19-7-2022.2328213,
        author={Budi  Dharma and Ahmad Muhaisin B. Syarbaini},
        title={Managing Arisan as An Alternative Islamic Finance Based on Its Critical Risk},
        proceedings={Proceedings of the 3rd International Conference of Islamic Finance and Business, ICIFEB 2022, 19-20 July 2022, Jakarta, Indonesia},
        publisher={EAI},
        proceedings_a={ICIFEB},
        year={2023},
        month={4},
        keywords={alternative islamic finance arisan money arisan transdisipliner risk management},
        doi={10.4108/eai.19-7-2022.2328213}
    }
    
  • Budi Dharma
    Ahmad Muhaisin B. Syarbaini
    Year: 2023
    Managing Arisan as An Alternative Islamic Finance Based on Its Critical Risk
    ICIFEB
    EAI
    DOI: 10.4108/eai.19-7-2022.2328213
Budi Dharma1,*, Ahmad Muhaisin B. Syarbaini1
  • 1: State Islamic University of North Sumatra
*Contact email: budidharma@uinsu.ac.id

Abstract

Arisan is a form of local wisdom and playing a vital role in the process of economic equality in Indonesia. Nowadays, the tendency to make Arisan is a financial need, so it has the potential to be an alternative Islamic financial service, especially since it is already available on a digital platform. However, this development brings up several financial cases such as fraud. Research focuses on “Money Arisan” and finding critical risks that aim to produce “Halal” standard procedures. The study was conducted on 100 Arisan members in Medan, using qualitative methods in exploring risk, and quantitative methods in assessing risk. Registration Process, Arisan Activities, Money Distribution and Dispute Resolution, are procedures that produce in this research. The recommendation is that Arisan should be carried out based on the community where the engagement process and track record between Arisan members was clearly defined.