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All Journal Jurnal Ekonomi dan Bisnis Islam Hasanuddin Economics and Business Review al-Uqud : Journal of Islamic Economics Shirkah: Journal of Economics and Business Journal of Islamic Economic Laws
Fauziah, Najim Nur
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Religion Humanities Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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Revisiting the Contribution of Islamic Banks’ Financing to Economic Growth: The Indonesian Experience Supriani, Indri; Fianto, Bayu Arie; Fauziah, Najim Nur; Maulayati, Ryan Rahmah
Shirkah: Journal of Economics and Business Vol 6, No 1 (2021)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (727.447 KB) | DOI: 10.22515/shirkah.v6i1.383

Abstract

The contribution of Islamic banking towards economic growth remains debatable amongst academicians and practitioners. This study investigates the relationship between Islamic banks’ financing and economic growth in Indonesia which is the largest Muslim population country. This study adopts Autoregressive-Distributed Lag (ARDL) and utilizes time-series quarterly data from 2011Q1 to 2019Q3. The study uses four predictors: financing to deposit ratio, gross capital fixed formation, inflation, and trade openness. The results from the auto-regressive distributed lag model indicate that, in the long-run, Islamic banks' financing has a significant impact on the Indonesian economy. However, in the short-run, financing does not make a substantial contribution to Indonesian economic growth. The study’s key implication is that financing by Islamic banks still makes a limited contribution to economic growth in Indonesia. This study enhances the literature review, specifically on evaluating the contribution of Islamic banks towards economic growth. Numerous existing studies on this topic covering the crisis period data, which might suffer from data bias. Therefore, this study addresses this topic, excluding the global financial crises period such as 1998, 2008, and 2020, to demonstrate Islamic banks' evident contribution to Indonesian economic growth.
Do organizational characteristics and audit opinion affect zakat performance? Zakiy, Faris Shalahuddin; Agriyanto, Ratno; Farida, Dessy Noor; Rahmiyanti, Firdha; Fauziah, Najim Nur; Fuadi, Nasrul Fahmi Zaki
al-Uqud : Journal of Islamic Economics Vol. 8 No. 2 (2024): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/al-uqud.v8n2.p211-226

Abstract

This research aims to examine the influence of organizational characteristics and audit opinion on zakat performance in Indonesia. The study examines 33 zakat institutions in Indonesia from 2017 to 2021, with 151 observations. Zakat performance in this study is measured using activity ratios, growth ratios, and excess zakat scores. The independent variables in this study are organizational characteristics (i.e. organizational age and organizational size) and audit opinion. The data is analyzed using data panel regression. The research findings indicate that audit opinion positively and significantly impacts zakat performance. Organizational size has a positive and significant impact on zakat performance in model 1, while it does not impact other models. Organizational age does not have an impact on zakat performance. This study highlights the importance of effective and efficient zakat management. Additionally, accountability and transparency reflected through audit opinions can minimize the potential for information asymmetry and conflicts of interest between agents and principals. Therefore, the organization's operational experience, asset growth, and audit opinion can enhance zakat performance in terms of the growth of fund collection and the practical and innovative distribution of zakat, infaq, and shadaqa funds.
IMPLEMENTING ESG CONCEPT IN SHARIA STOCK SCREENING PROCESS Mustafida, Rifka; Fauziah, Najim Nur
Hasanuddin Economics and Business Review VOLUME 5 NUMBER 1, 2021
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v5i1.2549

Abstract

Islam places great importance on moral, environmental and social dimension. Sustainable development is centric to the overlapping factors both Islamic finance and Socially Responsible Investment, which are the economy, the environment and social impact. In contrary, Empirical evidence concerning ESG practice of IFIs and Sharia compliant companies is still lacking. The investment portfolio should therefore be scrutinized on the criteria of justice, social welfare and sustainability. This paper aims to identify sustainability report of Sharia Stocks companies and propose i-ESG index for sharia stocks screening in Indonesia. A qualitative study is used to describe sustainability action doing by Sharia compliant companies listed on Indeks Saham Syariah Indonesia (ISSI) in October 2019. This study found that, almost all the companies shows their Good Corporate Governance, but only a few of company have their sustainability report. Therefore a novel parameter to screen the sharia stocks screening process is urgently needed.  
The Development of Islamic Crowdfunding in Indonesia and Its Impact towards SMEs Mustafida, Rifka; Fauziah, Najim Nur; Kurnia, Zahra Nabila
Hasanuddin Economics and Business Review VOLUME 4 NUMBER 3, 2021
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v4i3.2547

Abstract

Small and Medium Enterprises (SMEs) is taking role as the backbone for sustained economic growth, particularly in developing countries. However, SMEs might not easily get the financing from the banking institution due to the lack of financial history and collateral. Islamic crowdfunding has become a solution to deliver accessible financial services to the unbanked SMEs in the countries, especially in Indonesia. Islamic crowdfunding impacts the SMEs in regard to the ease of obtaining capital access, improving the welfare of SMEs, and creating growth for the national economy in the long-term. By using literature review, this study aims to show how the Islamic crowdfunding develops and how it affects the SMEs in Indonesia. The result shows that Islamic crowdfunding potentially benefits the SMEs in capital access, improving the welfare and economic growth.  
THE IMPLEMENTATION OF MAQASHID SHARIAH IN ZAKAT INSTITUTION: COMPARISON BETWEEN INDONESIA AND MALAYSIA Mustafida, Rifka; Kurnia, Zahra Nabila; Fauziah, Najim Nur; Subri, Nur Shazni Binti; Faiz, Farihah Amirah Binti Ahmad
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 6 No. 2 (2020): JULY-DECEMBER 2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v6i2.23532

Abstract

Zakat has been widely described as a tool of income distribution. Not with standing of the potential of zakat in Indonesia and Malaysia, however, there are some issues in zakat institutions. This study aims to analyze institutional program of collecting zakat in reaching Maqashid Sharia and also to identify the issues over the program conducted by the Selangor and DKI Zakat institutions. This study conducted a case study approach which involved two Zakat institutions in two different countries; Lembaga Zakat Selangor in Malaysia and Badan Amil Zakat Infaq and Sadaqah in Indonesia. Zakat Institution should be the leading institution in economic empowerment of society by using Maqashid Sharia as benchmark indicator to design zakat distribution program. This study found that LZS has fulfilled all aspects of maqashid ShariaSharia in zakat distribution program while BAZIS DKI meet three aspects of maqashid Sharia namely hifdzu ad-din, hifdzu an-nafs and hifdzu an-nasl. It is acknowledged that the zakat institutions have made many improvements, there are still few issues that need to be highlighted to meet the needs of the society. The following recommendations are given to empower and enhance the role of zakat particularly in accomplishing the objectives of the Sharia.
ANALYSIS OF AMIL ZAKAT INSTITUTIONS FINANCIAL PERFORMANCE PRIOR AND DURING COVID-19 Zakiy, Faris Shalahuddin; Suciat, Eqi; Fauziah, Najim Nur
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.16312

Abstract

This study aims to measure the performance of amil zakat institutions using activity ratios, efficiency ratios, amil fund ratios, liquidity ratios, and growth ratios before and during covid-19. Besides, this paper also explores the extent of the impact of covid-19 on the performance of amil zakat institutions. This paper is a qualitative research study with a case study approach in Lazismu of the Central Java region. The case was taken from Lazismu financial statements in 2019 and 2020. The financial statements are measured and reviewed using ratios to describe in-depth financial performance. The findings of this study provide the results of calculations of the five ratios, including activity ratios, efficiency ratios, amil funds ratios, liquidity ratios and growth ratios. It shows good performance, efficiency, and a significant increase. The overall performance of the Lazismu central Java region is stable and tends to increase during covid-19, and its performance does not differ much before covid-19.
The Development of Islamic Crowdfunding in Indonesia and Its Impact towards SMEs Mustafida, Rifka; Fauziah, Najim Nur; Kurnia, Zahra Nabila
Hasanuddin Economics and Business Review VOLUME 4 NUMBER 3, 2021
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v4i3.2547

Abstract

Small and Medium Enterprises (SMEs) is taking role as the backbone for sustained economic growth, particularly in developing countries. However, SMEs might not easily get the financing from the banking institution due to the lack of financial history and collateral. Islamic crowdfunding has become a solution to deliver accessible financial services to the unbanked SMEs in the countries, especially in Indonesia. Islamic crowdfunding impacts the SMEs in regard to the ease of obtaining capital access, improving the welfare of SMEs, and creating growth for the national economy in the long-term. By using literature review, this study aims to show how the Islamic crowdfunding develops and how it affects the SMEs in Indonesia. The result shows that Islamic crowdfunding potentially benefits the SMEs in capital access, improving the welfare and economic growth.  
IMPLEMENTING ESG CONCEPT IN SHARIA STOCK SCREENING PROCESS Mustafida, Rifka; Fauziah, Najim Nur
Hasanuddin Economics and Business Review VOLUME 5 NUMBER 1, 2021
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v5i1.2549

Abstract

Islam places great importance on moral, environmental and social dimension. Sustainable development is centric to the overlapping factors both Islamic finance and Socially Responsible Investment, which are the economy, the environment and social impact. In contrary, Empirical evidence concerning ESG practice of IFIs and Sharia compliant companies is still lacking. The investment portfolio should therefore be scrutinized on the criteria of justice, social welfare and sustainability. This paper aims to identify sustainability report of Sharia Stocks companies and propose i-ESG index for sharia stocks screening in Indonesia. A qualitative study is used to describe sustainability action doing by Sharia compliant companies listed on Indeks Saham Syariah Indonesia (ISSI) in October 2019. This study found that, almost all the companies shows their Good Corporate Governance, but only a few of company have their sustainability report. Therefore a novel parameter to screen the sharia stocks screening process is urgently needed.  
Co-Authors Bayu Arie Fianto Dessy Noor Farida Faiz, Farihah Amirah Binti Ahmad Faris Shalahuddin Zakiy, Faris Shalahuddin Fuadi, Nasrul Fahmi Zaki Kurnia, Zahra Nabila Maulayati, Ryan Rahmah Mustafida, Rifka Rahmiyanti, Firdha Ratno Agriyanto Subri, Nur Shazni Binti Suciat, Eqi Supriani, Indri