Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah
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Consumerism in Personal Finance: An Islamic Wealth Management Approach
Get PDFConsumerism phenomenon has been noticed from various points of view, such culture, psychology, and sociology but rarely linked to personal finance using Islamic wealth management approach. The aims of this study are to understand the causes and impacts of consumerism on personal finance and find the solution to this problem by using Islamic wealth management. By using thematic analysis this study reviewing consumerism from the perspective of personal finance in Islamic wealth management approach. This study found that the causes of consumerism involve both external and internal factors. The impacts of consumerism on personal finance are the debt trap, no productive and charity allocation. An exact number of maximum consumption cannot be set for every individual or family, but they are all agreed that allocating income should be based on the right priority scale. The second finding is we propose Islamic Wealth Management (IWM) approaches in reducing the problem of Consumerism.DOI: 10.15408/aiq.v10i2.551
Selection Criteria of Public for Account Opening: A Case Study of Islamic Banks in Pakistan
Get PDFBanks have an immense role in deciding the economic fate of any state. The purpose of the study is to investigate the selection criteria of Islamic banking system for account opening. Data was collected and analysed through descriptive statistics, One Sample t test and Independent Sample t test. The results show that people prefer banks have the number of branches, wide range of products, low cost products, easily approachability. Results also shown, no significance difference in the selection criteria for Islamic banks among the customers based on Gender.DOI: 10.15408/aiq.v10i1.601
Fundraising Strategies to Optimize Zakat Potential in Indonesia: An Exploratory Qualitative Study
Get PDFThis paper aims to identify and evaluate differences in the fundraising strategies implemented by different types of zakah institutions in Indonesia, to optimize the country\u27s potential for zakah collection. This study using a qualitative approach, which using semi-structured interviews conducted with zakah organizations in Indonesia. The main finding suggests that differences in fundraising strategies indeed exist. Corporate and government zakah agencies tend to use traditional fundraising strategies, with a partnership approach for collecting zakah and a community-oriented approach for communicating zakah. In contrast, private zakah agencies tend to use market-oriented fundraising strategies allied with retail collection approach and an individual communication approach. It also suggested that the market-oriented fundraising strategy has resulted in higher and more sustainable revenues, indicating consistency with the resource dependence theory of fundraising.DOI: 10.15408/aiq.v10i1.619
Consumer’s Preference and Awareness: Comparative Analysis between Conventional and Islamic Ijarah Auto Financing in Pakistan
Get PDFA healthy banking industry plays a vital role in the economic stability, and banks success depends on its products. Therefore, this study aims at cognizing the consumer’s preference and awareness of Islamic Ijarah over the conventional lease in Pakistan. This research used regression as tools of analysis. The findings indicate that convenience is the prime determinant for preference of Ijarah over the lease. Moreover, all other factors except religion also support in the motivate selection of Islamic banking products. Therefore, it can be concluded that in Pakistan, religion is not the only fact motivates individuals to prefer Ijarah. Based on findings, it is recommended to relevant stakeholders to create more awareness among masses about Ijarah and to further ease out policies in order to harness optimum benefit.DOI: 10.15408/aiq.v10i2.710
A New Paradigm in Islamic Housing: Non-Bank Islamic Mortgage
Get PDFAn increasing demand for a sharia-compliant housing has resulted in a new initiative where the mortgage can presently be directly handled by the developer without involving the bank. This is called non-bank Islamic mortgage. This paper is aimed at portraying the consumer’s profile of non-bank Islamic mortgage and the issues of this practice. We disseminated questionnaires to the respondents in several cities in West Java who bought the house-using non-bank Islamic mortgage scheme. Subsequently, we synthesized the answers regarding their profiles and issues of the scheme for the betterment in the future. One of the issues of this scheme is the higher fraud because there is no rigorous credit scoring as conducted by the bank. The research of non-bank Islamic mortgage is still scant so this paper is expected to shed the light by contributing to the literature of Islamic home financing.DOI: 10.15408/aiq.v10i2.727
Front Matter Al-Iqtishad. Vol. 10 (1), January 2018
No full textFront Matter Al-Iqtishad. Vol. 10 (1), January 201
Back Matter Al-Iqtishad. Vol. 10 (1), January 2018
No full textBack Matter Al-Iqtishad. Vol. 10 (1), January 201
Causal Relationship Between Islamic Bonds, Oil Price and Precious Metals: Evidence From Asia Pacific
Get PDFSukuk or Islamic bonds as new “Halal” securities had wildly expanded in Muslim and non-Muslim capital markets. So, this study aims to investigate the causal relationship between Islamic bonds (sukuk), oil and precious metals “silver and gold” prices in Asia pacific. This study used VAR model relying on daily data. The findings of Granger causality test and impulse-responses analysis results provide substantial evidence in favor of the relation between sukuk and the commodity market variables (oil, gold, and silver) meanwhile and unlike many empirical studies, don’t we have found that oil doesn’t cause changes in precious metals prices. Therefore, the idea that Islamic financial markets provide diversification benefits and they are safe havens during oil crisis cannot be supported empirically.DOI: 10.15408/aiq.v10i2.717