UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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Remedy for Unproductive Researches and Disintegrated Information in Islamic Finance: ‘Riba Information Queries Digital Portal’
Get PDFAbstract: Islamic finance industry evolution and development has been a central concern to scholars, researchers, and managers alike. However for last few years, academia and practitioners have indicated on a serious note that the success and growth of Islamic finance is getting affected because of lack of integration and collaborative approach between different institutions and key actors. Fragmentation plagues the thought process thus saps research productivity, it further create deadlock in research innovation, and makes it hard to be responsive according to the industry and customer needs. In that case, it is essential to find an answer: How a valuable and impactful platform can be designed which can add knowledge to individuals, bankers and society aswell? Realizing the challenge of fragmented information and disconnected issues in Islamic finance sector, this research attempt to propose a solution which can assist Islamic bankers, Islamic finance education providers, shariah scholars, students and researchers in gathering information and conducting more useful and productive research.
The Measurement of Islamic Bank Performance: A Study Using Maqasid Index and Profitability
Get PDFThis study aims to 1) measure Syariah Maqasid Index (SMI) and Profitability Index (PI) of Islamic Banks, and 2) compare the Syariah Maqasid and Profitability Index of Islamic Banks during 2011-2014 with cartesian diagram. This research consists of 2 methods: syariah maqasid index weighting (sekaran method), and Comparative Performance Index (CPI). The object of research consist of 11 Islamic Banks (BUS) in Indonesia with annual data 2011 to 2014. Result: Syariah Maqasid Index of BUS during 2011-2014 from the highest to the lowest, namely Panin Syariah (0254), BCAS (0212), BMI (0208), BRIS (0207), BSM (0202), BSB (0.2008), BJBS ( 0.2006), Victoria Syariah (0199), Maybank Syariah (0197), BNIS (0195), Mega Syariah Bank (0172). Then Profitability Index of BUS in 2011-2014 from the highest to the lowest, namely Maybank Syariah (628.5), Bank Mega Syariah (472.1), BSM (459.9), Panin Syariah (395.5), Victoria Sharia (355.4), BNIS (252.6), BMI (218.2), BCAS (155.4), BSB (150.9), BRIS (135.3), and BJBS (122.3). Conclusion: The highest of Syariah Maqasid Index is Panin Syariah Bank in period 2011-2014, while the highest of Profitability Index is Maybank Syariah in period 2011-2014
Compliance To Pay Zakat on Gold: A Study on UUM Staff
Get PDFAbstract: This paper aims to examine the relationship of attitude, religious value, knowledge on zakat, law of zakat as independent variable (IV) and compliance to pay zakat on gold as dependent variable (DV). A survey approach has been adopted in this study while the data are collected via structured questionnaires. The questionnaire was distributed to 250 respondents of Muslim women staff among academician and non-academician from three colleges in Universiti Utara Malaysia (UUM), Sintok Kedah. In this study, the researchers developed a new construct in measuring the compliance to pay zakat on gold, knowledge on zakat and law of zakat. While, the construct in measuring attitude and religious value variable are borrowed from the previous study. The data are then quantitatively analyzed using SPSS program. The findings shows a high significant and positive correlation between compliance to pay zakat on gold and knowledge on zakat followed by religious value, attitude and law of zakat. Further analysis using multiple regression analysis indicated that only knowledge on zakat, attitude and law of zakat give a significant and positive impact on zakat compliance payment on gold. The result of study contributed to the knowledge of zakat compliance. It is implied that the zakat authority need to intensify their efforts to further improve the effectiveness of education about zakat. Besides, it is proposed that zakat authority strives to cultivate a positive attitude of society towards zakat on gold using various strategic method
Analysis of Influence Financial Ratios on Sharia Banking Performance in Indonesia (Empirical Study at Bank Muamalat Indonesia, Bank Syariah Mandiri, and Bank Mega Syariah)
Get PDFThis study aims to examine the performance of Sharia Banking in Indonesia after experiencing slowing growth due to the impact of the United States crisis in 2008/2009. Factors used to measure the performance of sharia banking represented by ROA are CAR, NPF, BOPO, NM and FDR. This research uses multiple linear regression analysis with sample of research of Bank Muamalat, Bank Mega Syariah, and Bank Syariah Mandiri with the period of research from the first quarter 2008 to the fourth quarter 2011. The result of this research that is NM and FDR have positive significant effect on ROA, while BOPO has a significant negative effect on ROA, CAR and NPF have no influence on ROA
Export-Led Growth Hypothesis: Comparison Between Islamic and Non-Islamic Countries in ASEAN
Get PDFThis study aims to prove and analyze the effect of export growth on economic growth in the ASEAN countries. Using annual data from 2004 to 2014, the empirical result shows that export growth is significant and gives positive impact on the economic growth in ASEAN. However, investment and labor-force are less to affect the economic growth in ASEAN. This study also provides strong evidence that supports the hypothesis of export-led growth as described by Nurkse (Moon, 1997). Export-led growth is an economic strategy that is also used by Islamic countries in ASEAN. Export-led growth has two important reasons, it can generate profits and allow countries to balance their finances and the export growth can lead to greater productivity. This is consistent with the macro theory assumes that exports are injection to the economy (McCombie et al, 1994)
Comparison of Income Statement Approach and Shari\u27ate Value Added Statement Approach in Assessing the Financial Performance of Islamic Banks in Indonesia
Get PDFThe purpose of this study is to comparison in financia performance of Islamic banks in Indonesia by using the Income Statement (IS) approach and Shari\u27ate Value Added Statement (SVAS) approach. The type of research is quantitative, sample using a purposive sampling technique with the criteria of Islamic banks in Indonesia the which presents a financial annual report the period 2008-2012. Financial ratios used consisted of Return On Asset (ROA), Return on Equity (ROE), the ratio between the total net income by total productive assets (LBAP), Net profite Margin (NPM), and Operating Expense to Operation Income (OEOI), Analysis tool used to prove the hypothesis of this study is an independent sample t-test and Mann Whitney U. The result Showed that the average financial ratios (ROA, ROE, LBAP, NPM and OEOI) there are differences singnificant between the model of IS and SVAS. Differences in the ratio of financial performance is due to the differences in the design of the presentation and disclosures relating to profit and added value. Income Statement "IS" looked at income as profit, whereas the Shari\u27ate Value Added Statement "SVAS" looked at income as an added value
Syariah Compliance Stock: Current Issues and The Way Forward
Get PDFShariah compliance stock shows promising growth in Islamic finance industrty in the last three decades. It can be seen from the number of company listed in the Islamic capital market, issued by shariah committe. To be categorized as shariah compliance stock, stock screening will be conducted in ensuring that all company activities comply to shariah standard. The objective of this paper is to describe the shariah standar of stock screening in accordance with fiqh concept. In addition, this paper also illusterate some practice of stock screening in many countries. By conducting library research, this study found that shariah standard applied in stock screening is fully based on shariah and doesnt contravene with fiqh concept. Moreover, the practice of stock screening, still shows some differences which is affected by the difference of Islamic finance model
Financial Determinants of Qardhul Hasan Financing Growth: Evidence from Islamic Banks in Indonesia
Get PDFThe purpose of this paper is to investigate the financial factors that determine the growth of qardhul hasan financing in the sharia banks in Indonesia. We employ financial ratios such as Capital Adequacy Ratio (CAR), Non-Performing Financing (NPF), Net Interest Margin (NIM), Operational Cost to Operational Income (BOPO), Return on Asset (ROA) and Return on Equity (ROE) to explain the growth of qardhul hasan during 2011 to 2014. This paper utilizes the fixed effect model and the random effect model to provide empirical evidences. The empirical result demonstrates that Non-Performing Financing (NPF), Net Interest Margin (NIM), Return on Asset (ROA) and BOPO have significance relationship to the qardhul hasan financing. The finding shows that the growth of qardhul hasan financing in sharia banks is influenced by financial ratios of NIM, NPF, BOPO and ROA. This finding adds important evidence to the existing research on qardhul hasan financing in sharia banks
The Consumption Behaviour of Muslim Students towards Halal Food in Yogyakarta Indonesia: A SEM Aproach
Get PDFHalal food is a strategic sector in Indonesia, because most of Indonesian are muslim and consumpting it is a must. This study aims to look at the main factors that influence consumption behavior of Muslim students in Yogyakarta toward halal food. In this study the analysis method used is Structural Equation Modeling (SEM) to verify the factors that determine the consumption behavior of Muslim students in DIY toward halal food. The data used is primary data derived from questionnaires with 188 respondents. The results showed that of five independent variable, only four which affect toward intention to buy halal food positively and significantly, namely religiosity factors, social factors, attitudes and perceived value, while the halal label does not affect the intention to buy halal food
Framing Information and its Impact on Saving Decision in Conventional and Sharia Banks: Experimental Study of Students of the Faculty of Islamic Economics and Business in Yogyakarta
Get PDFIslamic and Conventional Banks in delivering information of margin in saving product have different ways. Islamic bank uses “nisbah” while conventional bank uses interest. Both have different words and disclosure but in the nominal calculation of nisbah and interest is same, because Islamic bank uses Profit Equilization Reserve which the function is as allowance, and to simply it, Islamic banking informs that to consumer as Equivalent Rate. By using Attribute Framing and Risky Choice Framing this research aims to test the information frame of nisbah and interest and it influences on saving decision making. Quasi Experiment Model is used with 49 students of Islamic Economic Studies as subject of experimental group and 20 students of other studies except Islamic Economic as subject of control group. Experimental design of this research is between subject 2X2 by using 2 cases and Random Assignment technique. Two Way ANOVA is used as analitical tool. The result of this research is when information of margin is framed in gain domain/positive frame and loss domain/positive frame subject decision in saving is less risky while when information of margin is framed in gain domain/negative frame and loss domain/negative frame subject decision in saving is risk seeking. The largest framing effect is on the certain/probability (gain domain/positive frame) and the smallest effect is on uncertain/presentation (loss domain/negative frame)