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The Concept and Practice of Macroprudential Policy in Indonesia: Islamic and Conventional Sakti, Muhammad Rizky Prima; Thas Thaker, Hassanudin bin Mohd; Qoyum, Abdul; Qizam, Ibnu
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 10 No. 1 (2018)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v10i1.5446

Abstract

This study aims to examine reserve ratio (GWM), and capital buffer toward credit growth; the impact of macroeconomic variables and micro-banking specific factors toward credit growth in Islamic and Conventional Bank. This research using Vector Error Correction Model (VECM). This research finds that macroprudential policy based on GWM instrument positively influence the credit growth of conventional and Islamic banks. From macroeconomic, the credit growth is positively affected by GDP and negatively affected by BI Rate and inflation. Also, credit also affected by deposit funds and default rate ratio. Interestingly, there is a different impact of capital buffer instrument toward credit growth. Capital buffer instrument has negatively affected the financing growth of Islamic banks in Indonesia.DOI: 10.15408/aiq.v10i1.5446
Harnessing Fintech for ZIS Payment in Indonesia: A Millennial Perspective Sari, Dia Purnama; Satibi, Ibi; Haris, Abdul; Qoyum, Abdul
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 12 No. 2 (2023)
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.v12i2.15792

Abstract

Indonesia, a nation with a population of over 70 million millennials, presents immense potential for the fintech sector to transform payments related to Zakat, Infaq, and Sadaqah (ZIS). This study investigates the factors influencing millennial adoption of digital platforms for ZIS payments in Java, Indonesia. Building upon the Unified Theory of Acceptance and Use of Technology (UTAUT-2), a novel model incorporating religiosity as a predictor of fintech-based ZIS payment intent is proposed. Utilizing a quantitative approach, primary data was collected from 165 Javanese millennials via a geographically diverse survey. Subsequent analysis, employing the Partial Least Square-Structural Equation Model (PLS-SEM) with WarpPLS Version 8.0 software, revealed significant positive influences on ZIS payment intent through fintech, stemming from performance expectancy, social influence, facilitating conditions, and established habits. Notably, religiosity emerged as a potent determinant. Conversely, effort expectancy, hedonic motivation, and price value exhibited no statistically significant impact. This research contributes significantly to the development of consumer behavior models by validating the determinants of fintech-based ZIS payment intentions. Furthermore, it underscores the crucial role of digital marketing in ZIS endeavors, advocating for the strategic utilization of social media platforms to foster millennial engagement. The findings pave the way for a flourishing digital ecosystem of ZIS giving, empowering a new generation of Indonesian Muslims to fulfill their religious obligations through convenient and impactful means.==============================================================================================================ABSTRAK – Pemanfaatan Fintech Untuk Pembayaran ZIS di Indonesia: Perspektif Milenial. Indonesia, dengan jumlah milenial lebih dari 70 juta orang, mempunyai potensi yang sangat besar bagi pengadopsian financial technology (fintech) ke dalam sistem pembayaran Zakat, Infak, dan Sedekah (ZIS). Penelitian ini bertujuan untuk menginvestigasi faktor-faktor yang mempengaruhi milenial, khususnya di Pulau Jawa, dalam memanfaatkan fintech untuk membayar zakat, infak, dan sedekah (ZIS). Penelitian ini memodifikasi Unified Theory of Acceptance and Use of Technology (UTAUT-2) dengan menambahkan variabel religiositas pada model sebagai penentu niat berperilaku dalam membayar ZIS melalui platform berbasis fintech. Penelitian ini menggunakan pendekatan kuantitatif dimana data primer diperoleh dari 165 kuesioner yang didistribusikan kepada milenial yang berdomisili di seluruh provinsi dalam Pulau Jawa. Data dianalisis dengan Partial Least Square-Structural Equation Model (PLS-SEM) dengan perangkat lunas WarpPLS Versi 8.0. Hasil penelitian ini menunjukkan bahwa variabel ekspektasi kinerja, pengaruh sosial, kondisi yang memfasilitasi, dan kebiasaan berpengaruh positif dan signifikan terhadap niat membayar ZIS melalui fintech. Secara khusus, religiositas muncul sebagai penentu yang kuat. Sebaliknya, ekspektasi usaha, motivasi hedonik, dan nilai harga tidak menunjukkan dampak yang signifikan secara statistik. Studi ini berimplikasi pada pengembangan model perilaku konsumen dan memperluas validitas determinan niat perilaku membayar ZIS melalui fintech. Selain itu, penelitian ini menunjukkan pentingnya paradigma pemasaran digital untuk ZIS dengan mengoptimalkan berbagai platform media sosial guna mendorong keterlibatan kaum milenial. Hasil ini membuka jalan bagi perkembangan ekosistem digital untuk pembayaran ZIS dan memfasilitasi generasi Muslim milenial Indonesia untuk memenuhi kewajiban agama mereka melalui cara yang lebih nyaman dan bermakna.
What Determines Foreign Direct Investment in Muslim Countries? Azzaki, Muhammad Adnan; Qizam, Ibnu; Qoyum, Abdul
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 12 No. 2 (2023)
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.v12i2.20840

Abstract

This study examines the influence of institutional quality, green economy policies, and financial development on Foreign Direct Investment (FDI) in Muslim countries. It employed panel data from 2010 to 2020 and is analyzed using the Dynamic Panel Model with the Generalized Method of Moments (GMM), which allows for handling endogeneity problems that often arise in panel data analysis. Statistical testing revealed that most institutional quality indicators, such as Political Stability, Government Effectiveness, Regulatory Quality, and Rule of Law, significantly and positively impact foreign direct investment. Additionally, the green economy, represented by natural resources, human capital, and the overall regulatory environment, also exerts a significant positive effect on foreign direct investment. Similar outcomes were observed in the financial sector's development, which significantly and positively reinforced the relationship between institutional quality and the green economy on foreign direct investment in Muslim countries. These results suggest a positive trajectory for resource management potential that can enhance the investment climate in Muslim countries. The findings offer valuable insights for policymakers in formulating effective strategies to boost capital inflows in Muslim countries. Policymakers are advised to consistently monitor both institutional quality and green economy indicators to discern investor preferences for foreign direct investment inflows.==============================================================================================================ABSTRAK – Determinan Apa yang Mempengaruhi Investasi Asing Langsung di Negara-negara Muslim? Paper ini menguji pengaruh kualitas kelembagaan, kebijakan ekonomi hijau, dan pembangunan keuangan terhadap Investasi Asing Langsung (FDI) di negara-negara Muslim. Studi ini menggunakan data panel tahun 2010 hingga 2020 yang dianalisis dengan Model Panel Dinamis dengan Generalized Method of Moments (GMM) yang memungkinkan penanganan masalah endogenitas yang sering muncul dalam analisis data panel. Hasil pengujian statistik menunjukkan bahwa sebagian besar indikator kualitas kelembagaan yang diwakili oleh Stabilitas Politik, Efektivitas Pemerintah, Kualitas Peraturan, dan Supremasi Hukum berpengaruh positif signifikan terhadap penanaman modal asing langsung. Selain itu, ekonomi hijau, yang tercermin pada sumber daya alam, sumber daya manusia, dan peraturan lingkungan secara keseluruhan mempunyai dampak positif yang signifikan terhadap investasi asing langsung. Hasil serupa juga diperoleh pada pengembangan sektor keuangan yang mampu memperkuat hubungan kualitas institusi dan ekonomi hijau terhadap investasi asing langsung di negara-negara Muslim secara positif dan signifikan. Temuan ini menunjukkan tren positif mengenai potensi pengelolaan sumber daya yang dapat menciptakan manfaat bagi iklim investasi di negara-negara Muslim. Temuan-temuan ini juga mempunyai implikasi berharga bagi para pembuat kebijakan dalam merancang strategi efektif untuk meningkatkan aliran modal di negara-negara Muslim. Mereka disarankan untuk terus memantau kualitas kelembagaan dan indikator ekonomi hijau untuk mengidentifikasi preferensi investor terhadap arus masuk investasi asing langsung.
Co-Authors A. Abdurrahman A.A. Ketut Agung Cahyawan W Abdul Haris Abdul Haris Abdullah Abdullah Achmad Jufri Adilla, Adilla Ahmad Syakir Kurnia Aji, Hendy Mustiko Akmal Ihsan Al-Amin Matae Andiansyah, Farma Arohman Arohman Arohman, Arohman Awwal, Muhammad Al Faridho Azzaki, Muhammad Adnan bin Mohd Thas Thaker, Hassanuddin Dede Dennis Dennis, Dede Dia Purnama Sari Dini Maulana Lestari Fadel Rahman Farma Andiansyah Fauziyyah, Neneng Ela Fitrotul Fardila Furwanti, Reni Hanafi, Syafiq Mahmadah Hassanudin bin Mohd Thas Thaker Ibi Satibi Ibnu Qizam Ibnu Qizam Ibnu Qizam Ibnu Qizam Ibnu Qizam Ihsan, Akmal Ita Eviyanah Izra Berakon Joko Setyono Lu'liyatul Mutmainah Lu’liyatul Mutmainah Lu’liyatul Mutmainah M. Ardiansyah M. Miftahussurur Makhrus Munajat Mardiya, Milzamulhaq Masriani Adhillah Milzamulhaq Mardiya Misbahul Munir Misnen Ardiansyah Misnen Ardiansyah, Misnen Mudinillah, Adam Muh. Rudi Nugroho, Muh. Rudi Muhammad Adnan Azzaki Muhammad Dedat Dingkoroci Akasumbawa Muhammad Prima Sakti Muhammad Rizky Prima Sakti Muhammad Rizky Prima Sakti Muhammad Rizky Prima Sakti Muhammad Rizky Prima Sakti, Muhammad Rizky Prima Muhammad Yousuf Munawaroh, Uum Neneng Ela Fauziyyah Neneng Ela Fauziyyah Prasodjo Prasodjo Prasojo Prasojo Putri, Amila Zamzabila Qizam, Ibnu R. Suhaimi Rizka Hendriyani Sakti, Muhammad Prima Sari, Dia Purnama Satibi, Ibi Siti Nur Azizah Siti Nur Azizah Sunaryati Sunaryati Syintia Dwi Utami Thas Thaker, Hassanudin bin Mohd Utami, Syintia Dwi Zamillaili, Maulanidya