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All Journal al-Uqud : Journal of Islamic Economics Jurnal Ekonomi & Keuangan Islam
Ali Shah, Syed Alamdar
Unknown Affiliation
Economics, Econometrics & Finance

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PATRONAGE OF ISLAMIC AND CONVENTIONAL BANKS: THE CASE OF SYRIA Aldeen, Khaled Nour; Ali Shah, Syed Alamdar; Herianingrum, Sri
al-Uqud : Journal of Islamic Economics Vol 3, No 2 (2019): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (297.693 KB) | DOI: 10.26740/al-uqud.v3n2.p98-113

Abstract

The aim of this study is to understand perception of conventional banks’ customers towards Islamic banking by examining their level of awareness about Islamic banking. The qualitative approach was used in the form of semi-structured interviews under the phenomenological approach in Damascus city. The main findings of this research are customers lack awareness of Islamic banking operations. Furthermore, Islamic banks’ stuff play a crucial rule to enhance awareness and willingness towards their services. This study revealed that an informative advertising campaign is highly recommended to raise the awareness level among Syrians towards Islamic banking. Moreover, Islamic banks should be more selective especially when they recruit customer service operation staff. This research is a pioneering attempt towards Islamic banking issues in the case of Syria from a customer perspective. It contributes to the Syrian perceptions towards Islamic banking literature.
Stock market responses to Covid-19: Evidence from Jakarta Islamic Index Fianto, Bayu Arie; Nugroho, Perdana Adi; Ali Shah, Syed Alamdar; Busser, Rogier
Jurnal Ekonomi & Keuangan Islam Volume 10 No. 2, July 2024
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JEKI.vol10.iss2.art4

Abstract

Purpose – This study examines the effect of Covid-19 in Indonesia on the value of abnormal returns, trading volume activity, and efficiency of the Jakarta Islamic Index (JII), the Indonesian Islamic stock market.Methodology – This study employed the event study model to measure the relationship between important events related to the Indonesian Covid-19 pandemic on stock returns and the stock trading volume of JII indexed companies. Using research analysis techniques in the form of a market-adjusted model, this study determines the period of events before, during, and after the event.Findings – This study found that the global Covid-19 announcement, announcement of the new normal, and announcement of the Covid-19 vaccination gave a significant abnormal return reaction to the JII index and did not provide a significant trading volume activity reaction. Implications – Indonesia's Islamic stock market, which falls into the semi-strong efficient category, responds quickly to important public information such as Covid-19-related announcements. Investors showed high sensitivity to major news, but trading volumes did not change significantly, indicating a cautious adjustment strategy. The different reactions across sectors, especially industry and energy, highlight the need for investor portfolio diversification. It is important for policymakers to provide clear and timely communication to maintain market stability during crises. Further research is required to understand the long-term impact and extend the coverage of international Islamic stock markets.Originality – This study examines several important Covid-19 events that occurred in Indonesia on stock returns and trading volumes in the Indonesian Islamic stock market.
Co-Authors Aldeen, Khaled Nour Bayu Arie Fianto Busser, Rogier Nugroho, Perdana Adi Sri Herianingrum