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All Journal Journal of Islamic Monetary Economics and Finance Islamic Economics Methodology Maqasid al-Shariah Review Business and Sustainability
Nurfalah, Irfan
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Religion Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Library & Information Science Social Sciences

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Islamicity Disclosure Index for Shariah Banking: A Case Nurfalah, Irfan; Rofi'atu, Lu'lu'
Maqasid al-Shariah Review Vol. 2 No. 1 (2023): Maqasid al-Shariah Review
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/msr.v2i1.310

Abstract

The sharia financial industry is currently a very attractive option with its growth reaching 15% to 20% per year. This fact makes performance evaluation a must for banks. Unfortunately, there are not many indices developed specifically to determine company performance. That is why this paper was prepared with the aim of knowing the performance of the 5 best bank categories from global finance, namely ADIB, BIMB, BMI, IIAB and ABG. The method used in the research is qualitative with descriptive statistics because it involves 2 different indexes namely Islamicity Disclosure Index and Islamicity Performance Index which involves quantitative data. The data used in the study is a data set taken from the financial statements and annual reports of related banks for the period January 1-December 31, 2020. The results of the analysis show that ADIB is the bank that meets the most Islamic reporting indicators followed by BIMB, BMI, ABG and IIAB successively. Meanwhile, the performance index focuses more on distributing benefits not only to shareholders and creditors as in the conventional index but also provides benefits to all parties involved with the bank either directly or indirectly. The results show that these banks still do not meet the criteria for reporting and calculating Islamic performance as a whole.
Developing Sukuk for Research and Innovation Project Asokawati, Adita Dyah; Sadariyah, Ayu Solihah; Nurfalah, Irfan
Business and Sustainability Vol. 2 No. 2 (2023): Business and Sustainability
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/bs.v2i2.376

Abstract

The growth of creative economics in Indonesia, especially in research and innovation development, has a potential appointment for improving the growth of Indonesia's economy. Most developing countries including Indonesia have a fundamental problem, namely the lack of availability of state funds and investment for infrastructure development. One form of implementation of limiting the lack of development funds of a country is to use the concept of PPP (Public-Private Partnership). Basically, the concept of PPP is not much different from the concept of sukuk in the Islamic capital market. This research tries to know how the concept of mudaraba sukuk and istisna sukuk can urge the growth of research and development sector. As we know sukuk development has grown rapidly in the world, that becomes sukuk as capital base for financing the project. Therefore, for improving this research and development sector, the writer innovates and creates skim of capital for improving research and development sector in Indonesia.
Oil Price Volatility, Macroeconomic and Islamic Banking Investments: Evidence in Indonesia Nurfalah, Irfan
Islamic Economics Methodology Vol. 3 No. 2 (2024): Islamic Economics Methodology
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/iem.v3i2.563

Abstract

Oil price volatility refers to fluctuations in oil prices over time due to changes in supply, demand, geopolitical events, market speculation, and other factors. High volatility can have widespread economic implications, particularly for oil-dependent economies and industries. The unpredictable volatility of world crude oil prices has caused the world economy to be in uncertainty and disrupt economic stability. The drastic and rapid movement of world crude oil prices will also affect the macroeconomy and microeconomy in each country. The objectives of the study are: Understand the effect of world crude oil prices, FDI and GDP on Islamic banking investment in Indonesia. The results show that the world crude oil price of Brent oil significantly affects the growth of Islamic Investment Bank in Indonesia. The negative coefficient indicates that an increase in the world price of crude oil brent oil can reduce the growth rate of Islamic Investment Bank in Indonesia.
THE REGIME SWITCHING OF CYCLE INSTABILITY OF ISLAMIC BANKING AND THE ECONOMY: EVIDENCE FROM INDONESIA, MALAYSIA, AND PAKISTAN Nurfalah, Irfan; Rusydiana, Aam Slamet
Journal of Islamic Monetary Economics and Finance Vol. 7 No. 2 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i2.1362

Abstract

This study aims to examine the cyclical instability of Islamic banking in Indonesia, Malaysia, and Pakistan. A stable Islamic banking system can give the public confidence to conduct transactions and thus grow the economy. The proxy variable for stability used is the z-score, with 156 periods of research data from January 2007 to December 2019. The Markov Switching Vector Autoregression (MS-VAR) method was employed. The results show that Islamic banking stability in Indonesia based on the z-score is more stable than others. Nevertheless, in terms of the regression of all the variables, regime shifting, and the duration of the crisis, overall Malaysian Islamic banking displays the best performance. The instability of the Indonesian model is mostly affected by inflation, whereas Malaysia and Pakistan are affected by the financing to deposit ratio and the fluctuation in global oil, respectively.
Co-Authors Aam Slamet Rusydiana, Aam Slamet Asokawati, Adita Dyah Rofi'atu, Lu'lu' Sadariyah, Ayu Solihah