The Goal of Islamic Financial Management and Conventional Financial
Management: Study Comparative of Bank Syariah Mandiri dan Bank
Mandiri Islam as a perfect religion comes to this world not only as the package and set of believe. More over it is came as the complete code of life based on the Holy Quran and Sunnah. Further, the financial aspect of human life is also included as the part of islamic value introduced in Islam from 1400. The financial aspect is only a dimension of the complete human life in Islam, though it is give substantial importance to any business organization in the term of achieving organization goals. The Islamic banks and financial institution has been facing some problems in continuing their business operations and other matters related to their relations with other banks and financial institutions. The problems are related tomanagerial functions includes Islamic planning andorganiz Islamic management way of direction, motivation under Islamic management and Islamic control system financial, regulatory and legal aspects. The goal of this paper is to know the comparison between Islamic Financial Management and Conventional Financial Management in two difference based company Bank Syariah Mandiri and Bank Mandiri. The ultimate goal of Islamic Financial Management (IFM) is to maximize current share prize by maintaining highest satisfication of Allah (SWT). This maximization is both benefits of life in this here and hereafter. The maximization of this world will be reached through the maximizing current share prize to oa reasonable extent is the benefit here or in the world. The benefit in hereafter is to earn satisfication of Allah through the maximizing welfare (falah) by maintaining shariah guidelines is the benefit in hereafter.While the ultimate goal of Conventional Financial management is to maximize current share prize and has no bother the benefit of here after. This different can be seen through the vision and mission of both companies as described below: Vision and Mission of Mandiri Syariah Vision: The Leading & Modern Sharia Bank Mission: Mewujudkan pertumbuhan dan keuntungan di atas ratarata industri yang berkesinambungan. Meningkatkan kualitas produk dan layanan berbasis teknologi, yang melampaui harapan nasabah.
Vision and Mission of Mandiri
vision : Becomes Indonesia 's most admired and progressive Financial Institutions Mission: Oriented to the market needs Developing human resources professionals Giving the maximum profit for stakeholders Implement open management Care about the interests of
society and the environment
Mengutamakan penghimpunan dana murah dan penyaluran pembiayaan pada segmen ritel. Mengembangkan bisnis atas dasar nilai-nilai syariah universal. Mengembangkan manajemen talenta dan lingkungan kerja yang sehat. Meningkatkan kepedulian terhadap masyarakat dan lingkungan. The IFM does not allow a number of practice as interest, gambiling, hoarding, dealing in unlawful goods or service, short sale and speculative transaction which cause imbalances in the society and tend to concentrate wealth in the hands of a few. While the conventioanl allows a number of interest, gambling, hoarding, dealing in unlawful goods or service, short sale and speculative transaction which cause imbalances in the society and tend to concentrate wealth in the hands of a few. This is described clearly in the field of work of both companies as described below
In the conventioanl Financial managemant wealth is only the physical
element of life. While the IFM whealth consist of two elements of life both physical and spiritual. The conventioanl financial management has two main source one is equity and another is interest based debt. While the
interest based system is the explicit prohibitition in the Islamic Financial