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Does Zakat and Non-Zakat Empowerment Affect Mustahiq Welfare Based on Maqashid Shariah? Widiastuti, Tika; Auwalin, Ilmiawan; Rani, Lina Nugraha; Mawardi, Imron; Al Mustofa, Muhammad Ubaidillah; Rosyidah, Norma; Mahmudah, Siti Nur
al-Uqud : Journal of Islamic Economics Vol 5, No 1 (2021): January
Publisher : Universitas Negeri Surabaya

This study explores the effect of zakat and non-zakat empowerment programs on the beneficiaries' welfare (mustahiq). This study focuses on the influence of the intervening variable, namely the mustahiq businesses' growth on mustahiq welfare. This study also examines the role of demographic characteristics, such as age, gender, and years of education on mustahiq business growth. This study employs the Partial Least Square-Structural Equation Model (PLS-SEM) using data from 100 respondents who received empowerment assistance from three different zakat institutions. The sample of mustahiq was selected from three zakat institutions to provide a diversity of respondents. The results indicate that zakat and non-zakat programs' empowerment through business growth has significantly affected mustahiq welfare. With these results, both zakat and non-zakat productive programs should be more developed to assist the community businesses' growth optimally. Previous studies measure the welfare of mustahiq with material aspects. In this study, the indicator of welfare is based on maqashid sharia, which includes the protection of Ad-Din (religion), An-Nafs (Soul), Al-Aql (intellect), Al-Nasl (descendant), and Al-Maal (wealth). Examining the impact of two variables, namely productive empowerment programs through zakat and non-zakat, on mustahiq business growth and welfare is the novelty of this study.

Do Indonesian Islamic Microfinance Institutions Need Lender of the Last Resort? Mawardi, Imron; Widiastuti, Tika; Al Mustofa, Muhammad Ubaidillah; Prasetyo, Ari
al-Uqud : Journal of Islamic Economics Vol 4, No 2 (2020): July
Publisher : Universitas Negeri Surabaya

Liquidity risk is one of significant risk managed by financial intermediaries including Islamic Microfinance Institutions (IMFIs). The financial intermediaries accept short-term deposits and disburse these deposits in the form of long-term loans. This situation makes IMFI desperately need a lender of last resort (LOLR). Nevertheless, there has been no formal LOLR for Indonesian IMFIs. This study intends to construct the LOLR model for IMFI in Indonesia. This qualitative study applies a case study analysis. This study's subjects are IMFIs in East Java Province that was selected purposively with thirty managers as the key informants. Research findings show that the best model of LOLR is developing a secondary cooperative since the majority form of IMFIs in Indonesia are cooperative entities. With all members of a secondary cooperative deposit for reserve requirements, they can place excess liquidity in the secondary cooperative and ask for financial support.

Nexus between Sharia Governance and Financial Performance: Evidence from Indonesian Islamic Banking Hijriah, Hanifiyah Yuliatul; Kholidah, Himmatul; Alkausar, Bani; Laila, Nisful; Al Mustofa, Muhammad Ubaidillah
Share: Jurnal Ekonomi dan Keuangan Islam Vol 13, No 1 (2024)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v13i1.20233

ABSTRACT – This study critically evaluates the effectiveness of Islamic governance on the financial performance of Islamic banks in Indonesia. Due to the absence of regulations defining optimal Sharia Supervisory Board (SSB) structure and qualifications, the research explores the empirical relationship between SSB characteristics and financial performance. Using a quantitative approach, the study analyzes data from 14 Islamic banks over a seven-year period (2014-2020). Multiple regression analysis reveals that SSB size, educational background, and financial/accounting expertise have minimal impact on financial performance. Interestingly, cross-membership on SSBs is found to have a negative effect. These findings, coupled with the observation of SSBs often lacking banking and finance backgrounds, suggest a potential disconnect between Sharia governance and managerial activities. The study advocates for clear and comprehensive regulations to strengthen SSB composition and competence, ultimately promoting the sustainable development of Islamic banking in Indonesia.========================================================================================================ABSTRAK – Hubungan Antara Tata Kelola Syariah dan Kinerja Keuangan: Bukti dari Perbankan Syariah Indonesia. Studi ini secara kritis mengevaluasi efektivitas tata kelola Syariah terhadap kinerja keuangan perbankan syariah di Indonesia. Mengingat belum adanya peraturan yang mengatur struktur minimum dan kualifikasi optimal Dewan Pengawas Syariah (DPS), penelitian ini bermaksud mengkaji secara empiris empiris hubungan antara karakteristik DPS dan kinerja keuangan. Dengan menggunakan pendekatan kuantitatif, penelitian ini menganalisis data dari 14 bank Islam selama tujuh tahun (2014-2020). Hasil analisis regresi berganda menunjukkan bahwa ukuran DPS, latar belakang pendidikan, dan keahlian keuangan dan akuntansi kurang memiliki dampak terhadap kinerja keuangan perbankan syariah. Menariknya, cross-membership pada DPS ditemukan memiliki efek negatif. Temuan ini, ditambah dengan pengamatan terhadap DPS yang seringkali tidak memiliki latar belakang perbankan dan keuangan, menunjukkan potensi keterputusan antara tata kelola Syariah dan aktivitas manajerial. Studi ini merekomendasikan adanya peraturan yang jelas dan komprehensif untuk memperkuat komposisi dan kompetensi DPS, yang pada akhirnya mendorong pengembangan bank syariah yang berkelanjutan di Indonesia.

Nexus between Sharia Governance and Financial Performance: Evidence from Indonesian Islamic Banking Hijriah, Hanifiyah Yuliatul; Kholidah, Himmatul; Alkausar, Bani; Laila, Nisful; Al Mustofa, Muhammad Ubaidillah
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 13 No. 1 (2024)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v13i1.20233

ABSTRACT – This study critically evaluates the effectiveness of Islamic governance on the financial performance of Islamic banks in Indonesia. Due to the absence of regulations defining optimal Sharia Supervisory Board (SSB) structure and qualifications, the research explores the empirical relationship between SSB characteristics and financial performance. Using a quantitative approach, the study analyzes data from 14 Islamic banks over a seven-year period (2014-2020). Multiple regression analysis reveals that SSB size, educational background, and financial/accounting expertise have minimal impact on financial performance. Interestingly, cross-membership on SSBs is found to have a negative effect. These findings, coupled with the observation of SSBs often lacking banking and finance backgrounds, suggest a potential disconnect between Sharia governance and managerial activities. The study advocates for clear and comprehensive regulations to strengthen SSB composition and competence, ultimately promoting the sustainable development of Islamic banking in Indonesia.========================================================================================================ABSTRAK – Hubungan Antara Tata Kelola Syariah dan Kinerja Keuangan: Bukti dari Perbankan Syariah Indonesia. Studi ini secara kritis mengevaluasi efektivitas tata kelola Syariah terhadap kinerja keuangan perbankan syariah di Indonesia. Mengingat belum adanya peraturan yang mengatur struktur minimum dan kualifikasi optimal Dewan Pengawas Syariah (DPS), penelitian ini bermaksud mengkaji secara empiris empiris hubungan antara karakteristik DPS dan kinerja keuangan. Dengan menggunakan pendekatan kuantitatif, penelitian ini menganalisis data dari 14 bank Islam selama tujuh tahun (2014-2020). Hasil analisis regresi berganda menunjukkan bahwa ukuran DPS, latar belakang pendidikan, dan keahlian keuangan dan akuntansi kurang memiliki dampak terhadap kinerja keuangan perbankan syariah. Menariknya, cross-membership pada DPS ditemukan memiliki efek negatif. Temuan ini, ditambah dengan pengamatan terhadap DPS yang seringkali tidak memiliki latar belakang perbankan dan keuangan, menunjukkan potensi keterputusan antara tata kelola Syariah dan aktivitas manajerial. Studi ini merekomendasikan adanya peraturan yang jelas dan komprehensif untuk memperkuat komposisi dan kompetensi DPS, yang pada akhirnya mendorong pengembangan bank syariah yang berkelanjutan di Indonesia.

MACROECONOMY IMPACTS ON INTERNATIONAL TRADE BETWEEN INDONESIA AND ISLAMIC COUNTRIES Al Mustofa, Muhammad Ubaidillah; Mawardi, Imron; Widiastuti, Tika; Ardiantono, Dewie Saktia
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 6 No. 1 (2020): JANUARY-JUNE 2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v6i1.14138

As one of the members of the Organisation of Islamic Corporation (OIC), Indonesia has excellent trade prospects. Therefore, this study has a purpose to examine the impact of macroeconomics factors on trade between Indonesia and intra-OIC countries. The variables of macroeconomics in this study consist of country risks, inflation, exchange rate, oil price, and economic growth. Quantitative is the right method for this study, applying Ordinary Least Square (OLS) regression with the help of EViews. The data used for the analysis is a time horizon with annual frequency from 1986 to 2016. Furthermore, finding shows that almost all variables of macroeconomics play an insignificant role in determining the trade between Indonesia and Islamic countries. However, the oil price is the only variable to show its contribution towards trade between Indonesia and intra-OIC countries. The results indicate that macroeconomic variables do not contribute to the key decisions for conducting trade internationally. Political factors and bilateral treaties become better variables to explain Indonesia's trade with other Islamic countries. Keywords: Country Risk, International Trade, Macroeconomic, Organisation of Islamic Corporation, Indonesia.

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