Garuda - Garba Rujukan Digital

Optimization of Islamic Peer-to-Peer Lending for Micro and Small Enterprises (MSEs) After Pandemic of Covid-19 Bella, Firsty Izzata
Journal of Islamic Economic Laws Vol 3, No 2 (2020): Journal of Islamic Economic Laws
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v3i2.11337

Indonesia and the rest of the world are grieving over the Covid-19 pandemic from December 2019 to the present, besides, no body known when this pandemic will end. In addition to impacting global health, the economy also experience the effects. One of the sectors that most got the impact of Covid-19 was the Micro and Small Business Sector (MSE). This research applied descriptive qualitative method through literature study utilized from books, scientific journals and other sources as supporters. The data used is intended as support for the phenomenon that occurs in Indonesia. Finally, the researcher tried to propose a new scheme in the form of filing MSE financing in groups according to business categories through the Islamic peer-to-peer lending (P2P) platform to provide easy capital access for the enterprises after the Covid-19 pandemic.

WHAT DRIVES RETURN OF SUKUK IN THE LONG AND SHORT TERMS? Bella, Firsty izzata; Chalid, Fitria Idham; Rusgianto, Sulistya
An-Nisbah: Jurnal Ekonomi Syariah Vol 8 No 2 (2021): An-Nisbah
Publisher : IAIN Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21274/an.v8i2.4676

This study aims to determine the effect of liquidity, inflation, and interest rates on the return of State Retail Sukuk (SUKRI) both in the short term and in the long term. Sampling in this study used a purposive sampling method by considering that the maturity of the series is the most recent and can be obtained in the secondary market and the data sources obtained from the monthly statistical reports of the Indonesia Stock Exchange (idx.go.id), the official website of Bank Indonesia (bi.go.id), as well as through a special request to The Indonesia Capital Market Institute (TICMI). Analysis of the data used in this study is a time series, namely research that is measured over a certain period of time. The period data used was in March 2017 on the grounds that the 009 Retail Sukuk as the object of this study were published in that month and ended in March 2020. The method used in this study is ARDL-ECM after going through the stationarity test and cointegration test. The results show that in the long term only the BI rate variable has a significant positive effect on Sukuk Returns, while in the short term only the Liquidity variable has a significant effect on Sukuk Returns. On the other hand, the inflation variable is known to have no significant effect on the Sukuk Returns in the long and short term. This research can be a reference for investors to make decisions in choosing SUKRI as their investment portfolio, as well as a consideration for the government in regulating risk management policies and determining the results offered to SUKRI which will be issued for subsequent series.

STRENGTHENING THE ISLAMIC DIGITAL PAYMENT SYSTEM THROUGH SHARIA ELECTRONIC WALLET (E-WALLET) Bella, Firsty Izzata; Efendi, Nadya Fira
El Dinar: Jurnal Keuangan dan Perbankan Syariah Vol 9, No 2 (2021): El Dinar
Publisher : Faculty of Economics Universitas Islam Negeri Maulana Malik Ibrahim Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/ed.v9i2.11451

The objective of this research is to propose a strategy to strengthen the islamic digital wallet or electronic wallet (e-wallet) in Indonesia to compete with its conventional counterparts. Qualitative research methods with study literature were chosen to explore previous research that had been discussed on e-wallets particularly from the Islamic perspective both at global and national levels through reputable journals, reports, and other supportive documents. The results depicted that the Islamic e-wallet can be optimized through four points, namely promotion, education, collaboration, and trust but remained fulfilling sharia compliance so that the values of Islamic teachings are not vanished. Promotions in the form of cashback can be substituted for points to be converted into donations through the Islamic crowdfunding platform. Education can be improved through social media platforms. The way is by coordinating with Islamic public figures, collaboration with merchants and service providers. Finally increasing trust by safeguarding user data and funds.

Digitalization and Efficiency: Technology-based Service of Indonesia Sharia Commercial Banks Bella, Firsty Izzata; Himmawan, M Fikri
IQTISHADIA Vol 14, No 2 (2021): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v14i2.8983

This study aims to assess the technology-based service effectiveness on bank profitability as well as to evaluate the efficiency and stability of Islamic Commercial Banks in Indonesia. The model was analyzed by using multiple linear regressions with generalized least square estimation technique and Data Envelopment Analysis (DEA) with data are gathered from Q1 2017 to Q2 2020. The exogenous variables included were Branchless Banking (BB), Third-party Funds (DPK), and Technology Service Quality (TSQ), with banking operational income (PENDOP) as endogenous variable. The DEA method analyses the VRS and CRS scale while using output orientation. Using the inputs of DPK, operational expenses, and total funding, with the outputs of operational earnings and total assets. The main finding suggests that DPK played as a dominant variable, following by TSQ and BB on bank operational income. Moreover, the results of the DEA models showed in four quadrants in each CRS and VRS model. Respectively, 1 and 5 banks are highly efficient and stable, 5 and 2 banks have high efficiency but low stability, 4 and 2 banks have low efficiency but high stability, 4 and 5 banks have low efficiency and stability in the CRS and VRS model.

Digitalization and Efficiency: Technology-based Service of Indonesia Sharia Commercial Banks Bella, Firsty Izzata; Himmawan, M Fikri
IQTISHADIA Vol 14, No 2 (2021): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v14i2.8983

This study aims to assess the technology-based service effectiveness on bank profitability as well as to evaluate the efficiency and stability of Islamic Commercial Banks in Indonesia. The model was analyzed by using multiple linear regressions with generalized least square estimation technique and Data Envelopment Analysis (DEA) with data are gathered from Q1 2017 to Q2 2020. The exogenous variables included were Branchless Banking (BB), Third-party Funds (DPK), and Technology Service Quality (TSQ), with banking operational income (PENDOP) as endogenous variable. The DEA method analyses the VRS and CRS scale while using output orientation. Using the inputs of DPK, operational expenses, and total funding, with the outputs of operational earnings and total assets. The main finding suggests that DPK played as a dominant variable, following by TSQ and BB on bank operational income. Moreover, the results of the DEA models showed in four quadrants in each CRS and VRS model. Respectively, 1 and 5 banks are highly efficient and stable, 5 and 2 banks have high efficiency but low stability, 4 and 2 banks have low efficiency but high stability, 4 and 5 banks have low efficiency and stability in the CRS and VRS model.

The Influence of Islamic Banks and Sovereign Retail Sukuk on Economic Growth in Indonesia Bella, Firsty Izzata; Inas, Inas
Al-Tijary Vol 8 No 2 (2023): AL-TIJARY VOL. 8, NO. 2, JUNI 2023
Publisher : Faculty of Islamic Economics and Business Sultan Aji Muhammad Idris State Islamic University Samarinda

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21093/at.v8i2.4406

This study aims to examine the short-term and long-term effects of Islamic banking financing and the development of sovereign Retail Sukuk (SR) on Indonesia's economic growth during the period 2009: Q1 to 2019: Q3. Outstanding SR is used as an indicator of SR’s development in seeing its impact on Indonesia's economic growth. Through Dickey Fuller-Generalized Least Square (DF-GLS) analysis, Lag-Length Test, Auto-Regressive Distributed Lag (ARDL), Cointegration Bound Testing. Total Sharia Bank financing and outstanding SR do not have long-term cointegration with Indonesia's economic growth. Meanwhile, in the short term, Indonesia's GDP is influenced positively by total Islamic Bank financing (TFIN) at lag 3 and negatively by the outstanding SR at lag 3 and 4. Researchers only examined the Islamic banking sector, specifically highlighting financing in Islamic banking and SR’s development through nominal outstanding on a quarterly scale. The limitations of the variables studied are becoming the limitations of this study. The government as a policymaker have to provide a support through cooperation between institutions and Medium and Small Enterprises (MSMEs) with Islamic banks in collecting and channeling financing, education, and outreach to the public. Consequently, the deepest layers need to be improved to make SR an individual investment instrument that can support Indonesia's economic growth. The implications of this study to offer valuable insights for policymakers, urging them to foster the growth of Islamic banks and promote retail Sukuk as an investment option and enhancing investors awareness of retail Sukuk.

Optimization of Islamic Peer-to-Peer Lending for Micro and Small Enterprises (MSEs) After Pandemic of Covid-19 Bella, Firsty Izzata
Journal of Islamic Economic Laws Vol 3, No 2: July 2020
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v3i2.11337

Indonesia and the rest of the world are grieving over the Covid-19 pandemic from December 2019 to the present, besides, no body known when this pandemic will end. In addition to impacting global health, the economy also experience the effects. One of the sectors that most got the impact of Covid-19 was the Micro and Small Business Sector (MSE). This research applied descriptive qualitative method through literature study utilized from books, scientific journals and other sources as supporters. The data used is intended as support for the phenomenon that occurs in Indonesia. Finally, the researcher tried to propose a new scheme in the form of filing MSE financing in groups according to business categories through the Islamic peer-to-peer lending (P2P) platform to provide easy capital access for the enterprises after the Covid-19 pandemic.

A BIBLIOMETRIC ANALYSIS OF ZAKAT LITERATURE FROM 1964 TO 2021 Supriani, Indri; Iswati, Sri; Bella, Firsty Izzata; T, Yunice Karina
Journal of Islamic Economic Laws Vol 5, No 2 July 2022
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i2.18511

This research provides a comprehensive historical and present development of zakat literature through bibliometrics analysis extracted from the Scopus database using Publish or Perish (PoP), RStudio, and VOSviewer. This study confirms that the literature on zakat has significantly increased during the last fifty years (1964–2021). This research identified that zakat literature had been comprehensively discussed by researchers across the nation from six aspects of research, namely the governance of zakat institutions; zakat as a poverty eradication tool; zakat compliance in an Islamic perspective; zakat as a social security scheme; the intention to pay zakat; and the distribution of zakat. This study confirms that Malaysian scholars and educational institutions have demonstrated a strong research commitment to the theme of zakat.

Determinant of Indonesian Sovereign Retail Sukuk’s Return: Determinan Return Sukuk Ritel Negara Indonesia Bella, Firsty Izzata; Chalid, Fitria Idham
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 12 No. 1 (2022): April
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2022.12.1.111-124

Abstract: Retail Sukuk is one of the Islamic investment instruments that Muslim investors can choose in investing and can be used by the government as an alternative to financing the APBN deficit. This study aims to determine the effect of liquidity risk, inflation risk, and market risk on the return of Retail State Sukuk (SUKRI). A sampling of Retail Sukuk Series 009 (SR009) was conducted using the purposive sampling method with the consideration that the maturity of the series is the latest and can be traded on the secondary market. Through a multiple linear regression model with the Ordinary Least Square (OLS) analysis technique, the results indicated that simultaneously all independent variables (liquidity, inflation, and interest rates) had a significant effect on return (Yield). While partially the results have shown between each different variable where liquidity has a significant negative effect on yield, interest rates show a significant positive effect. In contrast, inflation has no significant effect on yield. The results of this study can be utilized as a reference for investors in making decisions to choose SUKRI as their investment portfolio because the yield can be viewed from both the liquidity of the Sukuk and macro-economics conditions such as inflation and interest rates. Hence, when the interest rate increases, the investor can decide to invest in SUKRI. In addition, the results of this study can be used as a consideration for the government in regulating risk management policies and determining the returns offered to SUKRI, which will be issued for the next series. Keywords: Sukuk Yield; Liquidity Risk; Retail Sukuk; Multiple Linear Regression. Abstrak: Sukuk ritel merupakan salah satu instrument investasi syariah yang dapat dipilih oleh investor muslim dalam berinvestasi dan dapat digunakan oleh pemerintah sebagai alternatif dalam membiayai defisit APBN. Penelitian ini bertujuan untuk mengetahui pengaruh risiko likuiditas, risiko inflasi, dan risiko pasar terhadap return Sukuk Negara Ritel (SUKRI). Pengambilan sampel Sukuk Ritel Seri 009 (SR009) dilakukan dengan menggunakan metode purposive sampling dengan pertimbangan jatuh tempo dari seri tersebut paling baru dan dapat diperdagangkan di pasar sekunder. Melalui model regresi linier berganda dengan teknik analisis Ordinary Least Square (OLS), hasil penelitian menunjukkan bahwa secara simultan semua variabel independen (likuiditas, inflasi, dan suku bunga) berpengaruh signifikan terhadap imbal hasil (Yield). Sedangkan secara parsial hasil yang ditunjukkan antara masing-masing variabel berbeda dimana likuiditas berpengaruh negatif signifikan terhadap Yield, suku bunga menunjukkan pengaruh positif signifikan, sedangkan inflasi tidak berpengaruh signifikan terhadap Yield. Hasil penelitian ini dapat dijadikan acuan bagi investor dalam mengambil keputusan untuk memilih SUKRI sebagai portofolio investasinya karena imbal hasil dapat ditinjau baik dari likuiditas Sukuk maupun kondisi makroekonomi seperti inflasi dan suku bunga. Sehingga, disaat suku bunga meningkat, maka investor dapat mengambil keputusan untuk berinvestasi di SUKRI. Selain itu, hasil penelitian ini dapat digunakan sebagai bahan pertimbangan bagi pemerintah dalam mengatur kebijakan manajemen risiko dan menentukan imbal hasil yang ditawarkan kepada SUKRI yang akan diterbitkan untuk seri selanjutnya. Kata Kunci: Yield Sukuk; Risiko Likuiditas; Sukuk Ritel; Regresi Linear Berganda

WHAT DRIVES RETURN OF SUKUK IN THE LONG AND SHORT TERMS? Bella, Firsty izzata; Chalid, Fitria Idham; Rusgianto, Sulistya
An-Nisbah: Jurnal Ekonomi Syariah Vol 8 No 2 (2021): An-Nisbah
Publisher : UIN Sayyid Ali Rahmatullah Tulungagung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21274/an.v8i2.4676

This study aims to determine the effect of liquidity, inflation, and interest rates on the return of State Retail Sukuk (SUKRI) both in the short term and in the long term. Sampling in this study used a purposive sampling method by considering that the maturity of the series is the most recent and can be obtained in the secondary market and the data sources obtained from the monthly statistical reports of the Indonesia Stock Exchange (idx.go.id), the official website of Bank Indonesia (bi.go.id), as well as through a special request to The Indonesia Capital Market Institute (TICMI). Analysis of the data used in this study is a time series, namely research that is measured over a certain period of time. The period data used was in March 2017 on the grounds that the 009 Retail Sukuk as the object of this study were published in that month and ended in March 2020. The method used in this study is ARDL-ECM after going through the stationarity test and cointegration test. The results show that in the long term only the BI rate variable has a significant positive effect on Sukuk Returns, while in the short term only the Liquidity variable has a significant effect on Sukuk Returns. On the other hand, the inflation variable is known to have no significant effect on the Sukuk Returns in the long and short term. This research can be a reference for investors to make decisions in choosing SUKRI as their investment portfolio, as well as a consideration for the government in regulating risk management policies and determining the results offered to SUKRI which will be issued for subsequent series.

Title

Found 10 Documents
Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title Search

Found 10 Documents Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title

Found 10 Documents
Search