[ABSTRAK
Tesis ini membahas tentang Analisis Investasi Emas Di Perbankan Syariah:Simulasi Kuantitatif Berkebun Emas Periode (2004?2013). Penelitian inimenggunakan data sekunder berupa dana awal qardh untuk gadai emas, kursrupiah terhadap dollar AS dan harga emas dunia per ons dengan teknik simulasikuantitatif dengan metode simulasi matematik. Hasil penelitian menunjukkanadanya temuan bahwa praktik berkebun emas dapat mendatangkan kerugianterutama pada pengambilan keputusan pembelian emas atau lag (jeda) empatbulan. Hal ini disebabkan oleh fluktuasi harga emas dunia dan volatilitas kursrupiah terhadap dollar AS yang cukup tinggi. Besarnya nilai kerugian dankeuntungan setiap bulan dan setiap tahunnya berbeda-beda pada setiap eksekusilag antara lag 1, lag 2, lag 3 dan lag 4 bulan. Setelah melakukan perbandingandengan jumlah bulan mengalami kerugian dan keuntungan, ditemukan bahwabanyaknya jumlah bulan di mana nasabah mengalami kerugian ataupunkeuntungan dapat memengaruhi besarnya nilai nominal kerugian atau keuntunganyang didapat di akhir periode. Berdasarkan simulasi dalam penelitian ini, hal-halyang menentukan terjadinya praktik berkebun emas adalah nilai emas, Financingto Value (FTV) ratio, lag dan banyaknya emas yang digadaikan. Sehingga hal-haltersebut, harus diatur atau dibatasi oleh pemerintah untuk mencegah nasabahmelakukan praktik berkebun emas di bank syariah.
ABSTRACT
This thesis analyzes gold investment in Islamic banking: quantitative simulationof gold farming, period (2004-2013). It uses secondary data, which are qardhfinancing for gold pawning, gold price per troy ounce per USD also rupiahexchange rate per USD and using quantitative simulation technique withmathematics method. There are several fundings from this research. Firstly, goldfarming practices can cause losses, especially in lag four. It is caused by worldgold prices fluctuations and the volatility of the rupiah exchange rate. Secondly,the amount of losses and profits every month and year is different in each lagexecution among lag 1, lag 2, lag 3 and lag 4 months. Thirdly, a comparison resultshows that frequency of losses and profits each year during simulation periodcauses difference final values of losses and profits. Based on simulation in thisresearch, there are several things determining gold farming practices. They aregold value, Financing to Value (FTV) ratio, lag and the amount of pawned gold.So, it must be regulated or restricted by the regulator to prevent the customerdoing gold farming practices in Islamic banks;This thesis analyzes gold investment in Islamic banking: quantitative simulationof gold farming, period (2004-2013). It uses secondary data, which are qardhfinancing for gold pawning, gold price per troy ounce per USD also rupiahexchange rate per USD and using quantitative simulation technique withmathematics method. There are several fundings from this research. Firstly, goldfarming practices can cause losses, especially in lag four. It is caused by worldgold prices fluctuations and the volatility of the rupiah exchange rate. Secondly,the amount of losses and profits every month and year is different in each lagexecution among lag 1, lag 2, lag 3 and lag 4 months. Thirdly, a comparison resultshows that frequency of losses and profits each year during simulation periodcauses difference final values of losses and profits. Based on simulation in thisresearch, there are several things determining gold farming practices. They aregold value, Financing to Value (FTV) ratio, lag and the amount of pawned gold.So, it must be regulated or restricted by the regulator to prevent the customerdoing gold farming practices in Islamic banks, This thesis analyzes gold investment in Islamic banking: quantitative simulationof gold farming, period (2004-2013). It uses secondary data, which are qardhfinancing for gold pawning, gold price per troy ounce per USD also rupiahexchange rate per USD and using quantitative simulation technique withmathematics method. There are several fundings from this research. Firstly, goldfarming practices can cause losses, especially in lag four. It is caused by worldgold prices fluctuations and the volatility of the rupiah exchange rate. Secondly,the amount of losses and profits every month and year is different in each lagexecution among lag 1, lag 2, lag 3 and lag 4 months. Thirdly, a comparison resultshows that frequency of losses and profits each year during simulation periodcauses difference final values of losses and profits. Based on simulation in thisresearch, there are several things determining gold farming practices. They aregold value, Financing to Value (FTV) ratio, lag and the amount of pawned gold.So, it must be regulated or restricted by the regulator to prevent the customerdoing gold farming practices in Islamic banks] |
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