CHAPTER I

PRELIMINARY

1.1 Background

Cooperatives are a body formed and run by one or more people with the aim
of mutual interest with the principle of family based on the principle of the people's
economic movement. Matters relating to cooperatives have been regulated in Law
no.25 of 1992. The Law in article 4 explains that cooperatives function and play a
role in developing economic potential and capabilities for members and society. In
addition to improving the quality of human life, strengthening the economy of the
people, developing the economy in Indonesia and developing creativity and spirit
of organization. The savings and loan cooperative is one of the service cooperatives
whose main task is to provide loan and deposit services for members in particular.
The purpose of this cooperative is for members to get loan funds easily and
uncomplicated. Basically, the system of the cooperative is to collect and channel
funds in the form of a loan from members to other members in need with procedures
or mechanisms that have been determined and agreed upon together. The process
of distributing interest in this cooperative is fair because it was agreed upon at a
member meeting. The advantage of being a member of this cooperative is that when
borrowing funds there is no need to use collateral.

Cooperative Sharia Financial Services (KJKS) are microfinance institutions

that operate using the principles of sharia / Islamic economics. Namely with an
agreement for profit sharing. The purpose of Cooperative Sharia Financial Services
is similar to that of cooperatives in general, which is to improve the economy and
develop micro and medium business in order to lift the dignity and dignity of small
and medium enterprises.

This cooperative grows based on an agreement from a group of people who

are willing to deposit funds to operate. In addition, the capital foundation of sharia
financial services cooperatives comes from deposits of members and communities
who join. The types of deposits are voluntary savings, mandatory savings and
principal savings. Founding members have special principal savings.

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 The funds collected from these deposits are then processed by being
channeled through financing products and services. In contrast to ordinary
cooperatives that use interest in the concept of finance in financial service
cooperatives using a system of agreement and profit sharing using the muhdorobah,
musyarokah, and syirkah contracts. The profit-sharing system is the application of
the Islamic economic concept that strives to avoid usury.

1.2 Formulation of the Problem

1.2.1 Operational Standards for Management of Savings and Loans

Cooperatives (KSP / USP)

A. Who are the users of the Cooperative Financial Report?

B. What is the Purpose of Cooperative Financial Reporting?

C. What are the characteristics of Cooperative Financial reporting?

D. What are the cooperative financial accounting standards?

E. What are the Specific Recordings of Transactions that Occur in the Cooperative?

F. What is the KSP / USP Business Management Standard Operating Procedure

(SOP)?

1.2.2 Operational Standards of Sharia Financial Services Cooperative

Management

A. What is meant by the Cooperative Sharia Financial Services (KJKS / USP)?

B. What are the products of the Cooperative Sharia Financial Services (KJKS /
USP)?

C. What is the scope of the Cooperative Sharia Financial Services (KJKS / USP)?

D. What is the working basis of the Cooperative Sharia Financial Services (KJKS
/ USP)?

E. What are the differences in Cooperative Sharia Financial Services (KJKS /

USP) with other sharia services?

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1.3 Purpose of Writing

1.3.1 To find out how the operational standards of the savings and loan
cooperative management (KSP / USP)

1.3.2 To find out how the operational standards of management of Cooperative

Sharia Financial Services (KJKS / USP)

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 CHAPTER 2

STANDARD OF OPERATIONAL MANAGEMENT

KSP / USP AND KJKS / USP MANAGEMENT

2.1 KSP / USP Management Operational Standards

2.1.1 Users of Cooperative Financial Reports

The main users (main users) of the cooperative financial statements are:

 Cooperative members
 Cooperative Officer
 Candidates for Cooperative Members
 Bank
 Creditors, and
 Tax office

The purpose or interests of users of the Cooperative's financial statements are:

• Assessing management responsibilities,

• Assessing management's achievements,
• Assess the benefits provided by the Cooperative to its members,
• Assessing the financial condition of the Cooperative (profitability,
liquidity and solvency)
• As a material consideration to find the number of resources and services
to be provided to the Cooperative

2.1.2 Objectives of Cooperative Financial Reporting

The purpose of the Financial Report is to provide information that is useful to the
main user and other users. Some financial statements can be informed:

• Benefits obtained after becoming a member of the Cooperative

• Cooperative financial achievements for one period
• Transactions, events, and circumstances that change economic
resources, liabilities, and net worth in one period

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 • Other important information that might affect liquidity and solvency

Information needed to achieve goals:

• Economic resources owned by the Cooperative

• Obligations that must be fulfilled by the Cooperative
• Net assets owned by members and the Cooperative itself
• Transactions, events, and circumstances that occur in a period that
change the economic resources, obligations and net worth of the
Cooperative
• Fund sources and users as well as other information that might affect the
liquidity and solvency of the Cooperative

2.1.3 Characteristics of Cooperative Financial Reports

The Cooperative Financial Report has its own characteristics, as follows:

1. Financial Statements are part of the management's responsibilities to its

members in the Annual Member Meeting (RAT)

2. Financial statements usually include balance sheets / statements of financial

position, Remaining Business Results reports, and cash flow reports whose
presentation is carried out comparatively

3. The financial statements submitted at the RAT must be signed by all members
of the Cooperative (Law No. 25/1992, article 36, paragraph 1)

4. The Profit and Loss Report presents the final results called SHU Remaining
Results derived from transactions of members and non-members distributed
according to the components of the distribution of SHU that have been regulated in
the Cooperative AD or ART

5. The Cooperative's financial statements are not consolidated financial

statements of the Cooperatives

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 6. The financial position of the Cooperative is reflected in the balance sheet,
while the Remaining Business Results are reflected in the calculation of business
results

7. The Financial Report issued by the Cooperative can present the rights and
obligations of members along with the business results of and for members

8. Allocation of income and expenses on the calculation of business results to

members and non-members

9. The Cooperative Capital is recorded consisting of:

• Deposits
• Loan-loans
• Allowance for the proceeds of the business includes reserves and other
sources
• Cooperative income earned in one financial year is reduced by
depreciation and expenses from the relevant financial year are referred
to as Remaining Operating Results

10. Membership or ownership in the Cooperative cannot be transferred under

any pretext.

2.1.4 Cooperative Financial Accounting Standards

Financial statements for Cooperatives are basically the same as financial
statements in general. However, there are some differences in financial statements
in general with the Cooperative Financial Report:

• Calculation of business results in the Cooperative must be able to show

businesses originating from members and not members.

• Cooperative financial statements are not consolidated financial statements

of cooperatives, if there is a merger of two or more cooperatives.

2.1.5 Specific Recording of Transactions That Occur in Cooperatives

a. Revenue

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Revenues in calculating the results of a cooperative's business have several
characteristics, as follows:

• Revenues arising from product seller transactions or service delivery to

members and non-members
• Certain income whose realization of revenues is still dependent on the
terms / conditions set. Examples of Cooperative fees obtained from the
distribution and procurement of commodity programs, such as food fees,
sugar fees, etc.

b. Expense

The characteristics of the goods sold and expenses on the Cooperative are as
follows:

• Cost of product sales to members and non-members

• Expenses incurred due to Cooperative activities in relation to
government programs
• Expenses which can essentially be separated become a burden for
service activities to members and expenses for service activities to non-
members

c. Cash and bank

Understanding of cash and banks according to financial accounting standards:

• Cash is a payment instrument that is ready and free to be used to finance

the company's general activities
• The bank is the remainder of the company's checking account that can
be used to finance the company's general activities

Classification of cash and bank posts in the Cooperative balance sheet:

• Cash and banks owned by Cooperatives whose use is not restricted

• Cash and banks owned by Cooperatives whose authority for use is
limited

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 • Cash and banks in the name of the Cooperative (deposit) and therefore
the authority to use it is limited

d. Account Receivable

Classification of Receivables on Cooperatives:

• Receivables arising from the sale of products or services to members

• Receivables arising from the sale of products or services to non-
members
• Receivables from other cooperatives
• Receivables arising in connection with the distribution of the remaining
operating proceeds from other Cooperatives whose disbursement
depends on the agreed conditions

e. Inventory

Inventory Classification:

• Inventory of program commodities, namely commodities that obtain

facilities from the government such as sugar distribution or food
procurement
• Non-program (general) commodities

f. Asset Investment

Classification of Asset Investments:

• Inclusion in other Cooperatives

• Participation in non-cooperative business entities

g. Fixed Asset

Classification of Fixed Assets:

• Fixed assets acquired for the purpose of developing their own business
• Fixed assets from the government managed by the Cooperative on
revolving funds

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 • Fixed assets obtained in the framework of government programs

h. Liability

Obligatory Classification

• Obligations to members, arising from transactions with members

presented separately as debt to members
• Obligations to non-members, arising from transactions with non-
members are presented in accordance with the provisions in the
applicable financial accounting standards
• Voluntary savings, presented as current or long-term liabilities in
accordance with the maturity
• Obligations arising from the distribution of SHU, are presented as
current liabilities, unless stipulated by a member meeting not shared

i. Net worth

Net assets or equity (equity) of the Cooperative, consisting of:

• Basic savings
• Mandatory savings
• Cooperative reserves
• SHU that has not been shared
• Donation
• Cooperative wealth is presented by itself. Each form of remuneration for
deposits provided by the Cooperative to members is treated as the
distribution of the remaining proceeds to members.
• Structure and Organization, Vision and Mission, Objectives,
Establishment, Membership Standards, Membership Status Standards,
Member Registration Standards, Standards for Treatment for New
Members, Standard for KSP / USP Cooperative Service Utilization,
Standard Procedure for Requests to Leave Membership.
• Standards for Organizational Completeness, Organizational Structure,
Decision Making Standards

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 • Standard Manager of KSP / USP Cooperative, KSP Manager, USP
Cooperative Manager.
• Standard Procedure for Closing the USP Cooperative
• Standard Use of SHU
• KSP Wealth and Cooperative Property Management Standards that have
a Savings and Loan Business Unit.
2.1.5 Business Management Standard Procedure (SOP) of KSP / USP

In accordance with government regulation number 9 of 1995, the management of a

savings and loan business by the KSP / USP Cooperative is a financial service
management in the form of

(1). Fund raising

(2). Distribution of funds in the form of loans to members, prospective members

and other cooperatives and their members. The provisions and policies that must be
fulfilled by the KSP / USP Cooperative management in carrying out collection and
distribution activities, including:

1) Fund Collection SOP

• KSP / USP Cooperative fund collection activities can be carried out with
members in the form of current savings, time deposits, and investments.
• Fundraising from prospective members, other cooperatives and
members can only be carried out within the cooperative's work area and
only if the KSP / USP Cooperative has more capacity on the basis of
economic scale and efficiency considerations, and first obtains approval
from member meetings.
• In order to protect the KSP / USP Cooperative from the practice of
money laundering, deposit receipts and participation funds whose value
is more than Rp.50,000,000, for each transaction, both from
transactions, members and other cooperatives must have standard
operating procedures written to find out the origin of the money that was

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 signed by the depositary / accompanying capital. (Sleman Regency
Industry and Cooperative Office: 2010: 21)

2) SOP for Fund Distribution

Public policy

• Distribution of funds to KSP / USP Cooperatives must take precedence

in the form of loans to members. This activity is the main source of KSP
/ USP Cooperative income to cover all expenses.
• Loans are the provision of money and bills that can be equalized based
on an agreement on a loan and loan agreement between a cooperative
and a borrower that requires the borrower to repay the debt after a certain
period of time accompanied by payment of a sum of compensation.
• Distribution to prospective members, other cooperatives and / or
members if and only if the KSP / USP Cooperative has more capacity
on the basis of economic scale and efficiency considerations, and first
obtains approval from member meetings.
• To encourage the participation of members in borrowing and stimulate
prospective cooperative members, it is necessary to consider
differentiating the application of interest rates between members and
non-members.

Distribution of funds must be based on prudential principles and consider that:

1. Provision of loans will benefit those who receive them.

2. It is believed that the loan can be repaid by the borrower in accordance

with the Policy agreement regarding the number of loans that can be given
by the KSP / USP Cooperative to members must pay attention to the
following matters:

1. Use of loans by prospective borrowers.

2. The ability of prospective borrowers to pay their obligations.

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3. Cooperative Liquidity by considering primary and secondary cash reserves.

4. Distribution of risk loans through credit insurance or guarantor institutions.

5. The loan agreement must be written and regulate various things agreed upon, if
the loan amount is above the specified ceiling, it is recommended to make an
agreement deed before the notary.

KSP / USP Cooperative must have a standard for channeling funds

consisting of:

1. Written policy about repayment of loan utilization services by members of SHU.

2. Standard types of loans

3. Standard requirements for prospective borrowers.

4. Loan service standards.

5. Loan ceiling standards.

6. Loan interest standards.

7. Standard return on loans.

8. Standard loan term.

9. Standard collateral.

10. Standard loan application.

11. Standard preparation for loan realization (loan analysis).

12. Standard loan realization

13. Standard installment payments.

14. Standard installment repayments.

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15. Standards for guidance after loan distribution.

16. Standard handling of problem loans

In the case of KSP / USP Cooperatives still having excess funds after members
receive full service, the KSP / USP Cooperative managers can serve prospective
members of the cooperative concerned, other cooperatives and / or members with
the aim of utilizing the excess funds that are unemployed.

Stages of using excess funds at KSP / USP Cooperatives:

1. If the member has received full loan service, then the KSP / USP
Cooperative manager can serve prospective members

2. If the members and prospective members have received full service, the
KSP / USP Cooperative manager can serve other cooperatives and other
members based on the cooperation agreement between the cooperatives that
are related.

In the event that there is an excess of funds collected, after carrying out lending
activities (point a point b) for the approval of the Cooperative KSP / USP member
meeting the Cooperative can:

1. Placing funds in the form of demand deposits, deposits, time deposits,

and time deposits certificates at banks and other financial institutions.

2. Purchase of shares / bonds.

3. Placing funds in other investment facilities.

The use of excess funds as stated in point 3 considers the following:

1. Placement of excess funds for the purchase of shares, bonds, and other
investment facilities, the manager must get the approval of the member
meeting first.

2. Loans to other Cooperative members must be provided through their

Cooperation.

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3. Meeting of members sets the maximum lending limit to members and
prospective members.

4. Loans to prospective members must be guaranteed, and loans to other

cooperatives or members must be supported by agreements between the
cooperatives concerned.

5. The utilization of excess funds must be able to increase the results of the
KSP / USP Cooperative.

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KJKS / USP Management Operational Standards

Organization and Management Standards, Organizational Supervision Standards.

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16
2.1 Definition and Concept of Coperative Sharia Financial Services.
1. Cooperatives are business entities consisting of a person or a legal entity
cooperatives by basing their activities based on the principle of cooperatives as well
as the people's economic movement based on the principle of family.
2. Cooperative Sharia Financial Services is a cooperative business entity
consisting of a person or a legal entity cooperating by basing its activities based on
the principles of Islamic law (profit sharing pattern) as well as the people's
economic movement based on the principle of kinship.
3. Sharia Financial Services Business Activities are activities carried out to
collect funds and channel them through the Sharia Financial Services business from
and to the members of the Cooperative concerned, prospective members of the
Cooperative concerned, other Cooperatives and or members.
4. Cooperative Sharia Financial Services is a cooperative whose business
activities are in the fields of financing, investment, and savings according to the
profit sharing pattern (sharia).
5. Sharia Financial Services Unit is a business unit in a Cooperative whose
business activities are in the area of financing, investment and deposits in
accordance with the profit sharing pattern (sharia), as part of the business activities
of the Cooperative concerned.
6. Management Operational Standards for KJKS and UJKS cooperatives are
task structures, work procedures, management systems and work standards that can
be used as a reference / guidance for KJKS management and Cooperative UJKS in
providing quality services to its members and other service users.
7. The Sharia Supervisory Board is the board chosen by the cooperative
concerned based on the decision of the meeting of members and consists of
religious scholars who are experts in sharia who carry out the functions and duties
as sharia supervisors in the cooperative and are authorized to respond to or interpret
the fatwa issued by the National Sharia Council .
8. KJKS Management is the management who carries out executive
functions, and or business managers (directors, managers and or heads of units) who
are professionals appointed by the management with the approval of member
meetings.

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 9. The KJKS organizational instruments consist of Meetings of Members,
Managers and Supervisors.
10. UJKS Management is the manager of a sharia financial services business
unit in cooperatives (directors, managers, and or unit heads) who are professionals
appointed by the management with the approval of member meetings.
11. Business partners are members, other cooperatives and / or members
who utilize KJKS services and Cooperative UJKS.

2.2 The Products of the Cooperative Sharia Financial Services (KJKS / USP)
1. Deposits
Deposits are funds entrusted by members, prospective members, other
cooperatives and or members to cooperatives in the form of deposits / savings and
time deposits, as for the savings products in the following forms:
a. Wadiah Deposits Yad Adh-Dhamanah
b. Wadiah Yad Al-amanah deposit
c. Al-Mutlaqah mudharabah investment
d. Mudharabah Futures Investment
2. Financing
Financing is the activity of providing funds for investment or capital
cooperation between cooperatives with members, prospective members, other
cooperatives, and / or members, which requires the recipient of the financing to pay
off the principal received to the cooperative in accordance with the contract
accompanied by payment of revenue from or profit from activities financed or use
of the funding. As for the financing products in the following forms:
a. Mudharabah Financing
b. Musyarakah Financing
c. Murabahah Receivables
d. Receivables Salam
e. Istishna Receivables
f. Ijarah Receivables
g. Ijarah Muntahiya Bittamlik
h. Qordh

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 i. Rahn (Pawn)

2.3 The scope of the Cooperative Sharia Financial Services (KJKS / USP)

The scope of the KJKS SOM Guidelines and Cooperative UJKS includes 3
(three) sections consisting of:

1. Operational Standards for Institutional Management of KJKS and

Cooperative UJKS.
2. Business Management Operational Standards of KJKS and Cooperative
UJKS.
3. Financial Management Operational Standards of KJKS and Cooperative
UJKS.

2.4 The working basis of the Cooperative Sharia Financial Services (KJKS /
USP)

The Work Platform of KJKS and Cooperative UJKS are as follows:

1. KJKS and UJKS Cooperatives carry out their business activities based on
the values, norms and principles of the Cooperative so that they can clearly show
cooperative behavior. KJKS and UJKS Cooperatives carry out their business
activities based on sharia principles and the fatwa of the National Sharia Council.
2. KJKS and UJKS Cooperatives are a tool of member households to be
independent in overcoming the problem of lack of capital (for employers) or lack
of liquidity (for household members) so that the principle of self help applies.
3. Forward withdrawal of KJKS and UJKS of Cooperatives is the
responsibility of all members so that the principle of self responsibility applies.
4. Members of KJKS and UJKS Cooperatives are in one unit of the
Cooperative work system, regulated according to the norms contained in the AD
and ART of KJKS or Cooperatives that hold UJKS.

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 5. KJKS and UJKS Cooperatives must be able to provide greater benefits to
their members when compared to the benefits provided by other financial
institutions.
6. KJKS and UJKS Cooperatives function as intermediary institutions in
this case KJKS and UJKS Cooperatives have the duty to carry out the collection of
funds from members, prospective members, other cooperatives and / or their
members as well as financing to these parties.
2.5 The differences in Cooperative Sharia Financial Services (KJKS / USP)
with Other Sharia Services.

Types of Financial Institutions:

1. Banking
Based on the system and the principle, banking is divided into 2 types,
namely:
a. Conventional Banking, Example:
1) Commercial Banks
2) BPR
3) Regional Banks
b. Sharia System Banking, Example:
1) Sharia Commercial Banks
2) BPRS
2. Cooperative
Based on the type and principle the cooperative is divided into 2 types,
namely:
a. Primary Cooperative, divided into 2 types of groups:
1) KSP and KJKS
2) KSU (consisting of business units including UJKS, UUS)
b. Secondary Cooperative (members consist of various Cooperatives)
1) Finance (Financing Agency)
2) Pawnshop
Etc.
Note: What distinguishes each of the institutions mentioned above lies in the Legal
Entity Legality.

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 PROFILE COMPANY COOPERATION OF
"ARJUNA" SHARIA FINANCIAL SERVICES

A. Overview of the Company

1. A brief history of the establishment of the Arjuna Islamic Financial
Services Cooperative:
Born right on 28 September 2007 based on a meeting decision which was
attended by 30 people, it was agreed that the name of the cooperative to be co-
created is a Sharia Financial Institution which is abbreviated as "LKS". However,
after the management of the foundation submitted an operational permit to the
related department, it turned out they said that in fact there was no name of the LKS,
only the Islamic Financial Services Business and the UJKS. Therefore, finally the
members agreed on the name used was the "ARJUNA" SHARIA FINANCIAL
SERVICE COOPERATION.
The motivation was the establishment of the Arjuna Islamic Financial
Services Cooperative (KJKS) under the auspices of the Darut Taqwa Foundation,
because the foundation had a desire to exist in the foundation that could be accepted
by the surrounding community and also with the existence of Arjuna Islamic
Financial Services Cooperative. da'wah of Darut Taqwa Foundation on the
emphasis of learning of jurisprudence students about muamalah, and the
encouragement of deeper thinking about banking knowledge. Even though KJKS is
still small, it can provide benefits for Darut Taqwa Foundation, which is to be able
to make loans at KJKS and not make loans at other sharia-based financial
institutions. So that it can be easier to coordinate assistance in the form of loans that
are under the auspices of the Darut Taqwa Foundation. To implement amar ma'ruf
nahi munkar (trying to eliminate the practice of usury). by giving lessons to the
community either by way of verbal preaching or by way of questions.
The initial capital owned by KJKS consists of principal savings and
mandatory savings and participation, namely:
a. Principal deposit of Rp. 30,000,000
b. Mandatory savings of Rp. 1,800,000
c. The investment is IDR 200,000,000

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 2. Legality and Identity of Arjuna Islamic Financial Services
Cooperative
a. The cooperative received legality from the Cooperative Legal Entity with
the number: 504 / BH / XVI.20 / 242.055 / 2007 (28 September 2007).
b. This cooperative has an identity:
Name: ARJUNA Islamic Financial Services Cooperative (KJKS)
Head office: Jl. Ngalah Ponpes No.16 Sengonagung Purwosari Pasuruan.

3. Vision, Mission and Objectives

a. Vision
As a vehicle for the development and discovery of science by conducting
business and research. Development and community service in the field of Islamic
sharia economics and Islamic banking with a pluralist spirit to create professional
workforce that is humalistic and religiously moral.
b. Mission
1) Carrying out systematic and programmed business in the field of Islamic
banking and making workers who have the skills and abilities to become
practitioners in Islamic financial institutions.
2) Organizing scientific and entrepreneurial studies with the paradigm of
"democratic education and life education".
3) Organizing a business whose situation and conditions reflect the
application of pluralistic values of community life and in accordance with Islamic
syariaqt.
4) Develop individual workforce skills in community service in the field of
human resource development related to the Islamic economy so that social
interactions can be realized with optimal values.
c. Aim
In addition to carrying out da'wah oral bil (lecture) also carry out da'wah Bil
hal (with actions).

4. Arjuna Sharia Financial Services Cooperative Product Types

a. Deposits of Wadi'ah

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 1) Wadi'ah Yad amanah is a wadiah where the deposit recipient is not
responsible for the loss and damage that occurs to the safekeeping, as long as this
is not a result of negligence or carelessness of the recipient of the deposit in
maintaining the deposit.
2) Wadi'ah Yad Dhammanah is a wadi'ah where deposit recipients can use
the safekeeping item with the permission of the owner and guarantee to return the
deposit at any time when the owner wishes.
b. Financing
1) Murabahah Is a sale and purchase contract item declaring the price
(acquisition price) and ratio (profit / margin) agreed upon by the seller and the
buyer.
2) Mudharabah is the surrender of assets from shohib al-mal (fund capital
owner) to mudharib (fund manager) as business capital, while the profit is divided
according to the agreed ratio (profit and loss ratio).
3) Qordhul hasan is a financing of virtue.

5. Organizational Structure

RAT

Pengurus
Dewan Syari’ah Pengawas
Ketua
Sekretaris
Bendahara

Manager

Bag. Pembiayaan Bag. Kasir Bag. Administrasi

Anggota

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 6. Arjuna Islamic Financial Services Cooperative Savings Procedure
a. The customer
1) Submit an application by filling out the two-sheet registration form.
2) Submit a photocopy of identity to the bookkeeper.
b. Customer service
1) Receive a registration form and photocopy of the customer's identity.
2) Provide general information on wadi'ah in accordance with the terms and
conditions.
3) Submitting the registration form and photocopy of identity to the
manager.
c. Manager
1) Receive the registration form and photocopy of the identity of the
bookkeeper.
2) Provide a signature and approval in the registration form section.
d. Book reader
1) Receive forms and photocopies of self-identity agreed upon by the
manager.
2) Archive the registration form approved by the manager along with a
photocopy of identity for non-account.
e. Cashier
1) Receive the agreed registration form.
2) Provide savings books to approved savers.

7. General Provisions for Arjuna Islamic Financial Services

Cooperative Savings
a. Requirements
1) Islamic savings are intended for depositors or individual savers and
institutions.
2) Proof of deposit or savings is a savings book issued by the Arjuna Islamic
Financial Services Cooperative (KJKS) and an account card in the name of the saver
arranged in the Arjuna Islamic Financial Services Cooperative (KJKS) office.

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 3) If the savings book is lost, the depositor / saver must report in writing to
KJKS ARJUNA by attaching a certificate of loss from the police on the basis that
the cooperative will issue a substitute passbook, the depository / saver does not
report the loss to the cooperative, the depositor / saver responsible for any losses
incurred by other parties as a result of using the lost passbook.
4) Storage / savers are responsible for misuse of savings books.
5) If there is a difference in the balance in the passbook with the balance
recorded on the account card, then as a benchmark for the cooperative is the balance
recorded on the account.
b. Deposit or Taking
1) Awla deposit minimum of IDR 10,000
2) Deposits and withdrawals can be made at any time during working hours
still open.
3) Every withdrawal, storage / saver must show the savings book to KJKS
ARJUNA.
4) Retrieval can be represented to other people if included sufficiently
sealed power of attorney.
5) Minimum balance that must be left at least IDR 10,000
c. Profit sharing
1) Profit sharing is calculated and paid for at the end of each month by
adding to the last balance recorded in the savings card in the name of the deposit /
saver and in accordance with the average monthly balance.
2) The profit-sharing level is determined by agreement between the two
parties.
d. Miscellaneous
1) A minimum balance of Rp 10,000, - which does not mutate for 3
consecutive months is subject to administrative fees.
2) May change according to the provisions of the cooperative.
e. Number of Islamic Financial Services Cooperative Customers
1) In 2007-2008 there were 1,075 people.
2) In 2009 there were 1,578 people.
3) In 2010 there were 1,962 people.

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 4) In 2011 there were 2,164 people.
5) In December 2012 there were 3,000 people.
So the number of customers in the Islamic Financial Services Cooperative
increases every year. Prizes will be given to each customer if they join with a
wadiah contract of 25% of the profit according to the average balance every month,
while the SHU is given specifically to members of the cooperative every year, while
the members consist of 30 people.

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 CHAPTER III

CONCLUSION

In accordance with government regulation number 9 of 1995, the management

of a savings and loan business by the KSP / USP Cooperative is the management
of financial services in the form of (1) Collection of funds (2) Distribution of funds
in the form of loans to members, prospective members and other cooperatives and
members. KSP / USP Cooperative must have 16 standards for channeling funds in
carrying out their activities. In addition, in the event that KSP / USP Cooperatives
still have excess funds after members receive full service, the KSP / USP
Cooperative managers can serve prospective members of the cooperative
concerned, other cooperatives and / or members with the aim of utilizing
unemployed excess funds. Sharia Financial Services Cooperatives have several
products including Wadiah Yad Adh-Dhamanah Deposits, Wadiah Yad Al-aman
Deposits, Mudharabah Al-Mudlaqah Investment, Mudharabah Futures
investments. The scope of the Cooperative KJKS SOM includes 3 (three) sections
consisting of: Operational Standard Management of KJKS Institutions and
Cooperative UJKS, KJKS Business Operational Standards and Cooperative UJKS,
KJKS and UJKS Cooperative Financial Management Operational Standards.

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 DAFTAR PUSTAKA

Sumantri, Bambang Agus dan Permana, Erwin Putra. 2017. Manajemen Koperasi
dan Usaha Mikro Kecil dan Menengah (UMKM). Fakultas Ekonomi dan Bisnis
Universitas Nusantara PGRI Kediri: Kediri

https://www.hestanto.web.id/standar-operasional-prosedur-sop-pengelolaan-
usaha-kspusp/

http://www.ojk.go.id/Files/box/roadmap-pbs_2015-2019.pdf

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 MANAGEMENT COOPERATIVE AND SMES

STANDARD OF OPERATIONAL MANAGEMENT

KSP / USP AND KJKS / USP MANAGEMENT

I GUSTI AYU AGUNG TATA INTAN TAMARA (1607531009)

ALIT WAHYUNINGSIH (1607531041)

NADIRA PRADNYA PARAMITA (1607531111)

ECONOMIC AND BUSINESS FACULTY

UDAYANA UNIVERSITY

2018/2019

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