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All Journal Ikonomika : Jurnal Ekonomi dan Bisnis Islam MALIA International Journal of Islamic Business and Economics (IJIBEC)
Rizaldy, Muhamad Rizky
Unknown Affiliation
Religion Economics, Econometrics & Finance Environmental Science

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Optimization The Role of Sharia Bank in National Economic Recovery Through Results-Based Micro-Finance Yusmat, Muammar Arafat; Bakri, Adznan Noor; Rizaldy, Muhamad Rizky
IKONOMIKA Vol 8, No 1 (2023)
Publisher : Universitas Islam Negeri Raden Intan Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24042/febi.v8i1.15932

Abstract

The problem in this research is that the Covid 19 pandemic that occurred in early 2020 resulted in a decrease in the performance of small, micro and medium enterprises. The most felt impact is the difficulty in paying off debt in the banking sector so that not a few MSME business actors take the path of restructuring their loans. The purpose of this research is to design a formulation of a sharia-based micro business financing model formulation. This research aims to create an appropriate microfinance model so that Islamic banks can play an optimal role in the national economic recovery program. This study found the right model for financing if you want to use a maharajah contract: (1) paying profit-sharing salaries, (2) buying ideas, (3) profit sharing without salary, and (4) instrumental alternatives such as endowments. This study uses a research method with a qualitative approach. All data comes from in-depth interviews and FGDs with customers, Islamic banks as practitioners, and several Islamic banking experts as academics. All information is processed using a process hierarchy analysis technique or AHP to produce the right model for micro business financing
Comparative Analysis of Indonesia and Malaysia Sharia Stock Index Performance Using Sharpe, Treynor, and Jensen Methods Azizah, Fauziah; Handayani, Sri Setya; Riskayanto; Rizaldy, Muhamad Rizky
International Journal of Islamic Business and Economics (IJIBEC) Vol 8 No 1 (2024): Volume 8 Nomor 1 Tahun 2024
Publisher : Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/ijibec.v8i1.7188

Abstract

The research aims to measure the performance of stock indices and analyze the comparative performance of sharia stock indices in Indonesia (JII-70) and Malaysia (FBMS) during and after the COVID-19 pandemic. The performance assessment used was the Sharpe, Treynor, and Jensen method. Sharpe concept will be used to measure the risk premium for each unit of risk in the portfolio, Treynor will be used to measure portfolio performance assuming that the Reward to Volatility Ratio (RVR) of a well-diversified portfolio, and Jensen will measure that estimates a constant rate of return over the investment period. The performance of JII-70 and FBMS will be comparatively analyzed using the independent sample t-test with Eviews-12 software. According to Treynor, the test results show that the performance of the JII-70 stock index is positive. In contrast, according to the Sharpe and Jensen indices, it is negative, while the performance of FBMS based on these three indices shows negative results. The performance of the JII-70 stock index is higher than the FBMS index, although the difference is not significant. Meanwhile, according to the Jensen index, FBMS performance is better than JII-70 performance. It can be concluded that the Jakarta Islamic Index-70 (JII-70) performance is better than the FTSE Bursa Malaysia EMAS Sharia (FBMS). The findings of this study help regulators and practitioners design essential strategies in light of varying stock market dynamics during the pandemic.
A Review on Islamic Corporate Governance Research in Islamic Financial Institution Izzani Ulfi; Rizaldy, Muhamad Rizky
MALIA: Jurnal Ekonomi Islam Vol 15 No 2 (2024)
Publisher : Department of Islamic Economics, Faculty of Islamic Religion, Yudharta University Pasuruan, East Java, Indonesia.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35891/ml.v15i2.5091

Abstract

Research development in Islamic corporate governance is way behind the conventional counterpart. This is a call to Muslim scholars to put more attention and effort into the development of Islamic corporate governance through research. This paper aims to be a stimulus in this agenda by developing a research mapping in Islamic corporate governance literature especially within Islamic financial institutions. By employing the bibliometric method, this paper is expected to provide an overview related to the journey of Islamic corporate governance research and future research directions by reviewing 295 articles related to Islamic corporate governance in the Scopus database. The studies used as objects of this research are articles, reviews, and conference papers indexed by the Scopus database and are written in English only, assuming that these articles can represent high-quality research in the field of Islamic corporate governance. Most of the analyzed research was conducted within the scope of Islamic banking, thus, there is a huge demand to do research beyond Islamic banking area such as Islamic insurance and Islamic microfinance. This research will make it easier for researchers to get a comprehensive picture regarding the development of literature in the field of Islamic corporate governance in all Islamic financial institutions.
Co-Authors Azizah, Fauziah Bakri, Adznan Noor Handayani, Sri Setya Izzani Ulfi Muammar Arafat Yusmat Riskayanto Yusmat, Muammar Arafat