Garuda - Garba Rujukan Digital

Sukuk Rating Prediction using Voting Ensemble Strategy Mira Kartiwi; Teddy Surya Gunawan; Tika Arundina; Mohd Azmi Omar
International Journal of Electrical and Computer Engineering (IJECE) Vol 8, No 1: February 2018
Publisher : Institute of Advanced Engineering and Science

Islamic finance development has grown into a focal point in many countries accros the globe. Sukuk, in particular, an Islamic investment product that has received growing attention from sovereigns, multinational and national organizations from both developed and emerging economies. Its uses has been aimed to finance investments in a varieties of economic activities and development projects. Despite the promising look of Sukuk, currently there is lack of studies had been to examine and predict the rating of the Sukuk. As a result, many practitioners adopted the conventional bond hence ignore the fact that these two instruments are different in nature. In order to fill the gap in the literature, it is the aim of this research to develop an ensemble model that can be used to predict Sukuk rating. The effectiveness of the proposed models were evaluated using dataset on Sukuk issuance for domestic from 2006 to 2016. The results indicate that the overall performance of the ensemble model is fall short behind the i duction decision tree (IDT) model. However, the class precision of the ensemble model improved, particularly in predicting the lowest rating of Sukuk.

Opportunities and Challenges in Developing Islamic Pension Funds in Indonesia Rahmatina Awaliyah Kasri; Banu Muhammad Haidlir; Muhammad Budi Prasetyo; Tika Arundina Aswin; Fenny Rosmanita
ETIKONOMI Vol 19, No 2 (2020)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v19i2.16284

Despite the rapid development of the Islamic financial sector in Indonesia, the development of Islamic pension funds is way behind those of the other Islamic financial sectors. This study aims to explore the opportunities and challenges faced by Indonesian Islamic pension funds. Utilizing a qualitative research method, the study conducted Focus Group Discussions with 23 large pension funds spread across five big cities in Indonesia. It was revealed that opportunities and prospects for developing Islamic pension funds in Indonesia are relatively good. However, various internal and external challenges were found, such as a lack of knowledge; the weak commitment of founders; lack of quality human resources; relatively unfavorable tax treatment; limited investment instruments; competition with government pension schemes; and public literacy problems. Therefore, two broad strategies are recommended to develop the Islamic funds, namely the provision of direct/indirect incentives to market players, and literacy programmes to targeted/priority groups. These strategies are expected to encourage and accelerate the growth of Indonesia's Islamic pension fund industry in the future.JEL Classification: H55, H75, J32How to Cite:Kasri, R. A., Haidlir, B. H., Prasetyo, M. B., Aswin, T. A., Rosmanita, F. (2020). Probability of Paying Zakat from Micro Financing Project Return. Etikonomi: Jurnal Ekonomi, 19(2), 311-322. https://doi.org/10.15408/etk.v19i2.16284.

Efficiency Analysis of Islamic Banks Post-Merger Using DEA Methods Orieza Alif Putra Purnomo; Tika Arundina Aswin
International Journal of Economics Development Research (IJEDR) Vol. 5 No. 2 (2024): International Journal of Economics Development Research (IJEDR)
Publisher : Yayasan Riset dan Pengembangan Intelektual

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37385/ijedr.v5i2.5038

This academic study explores the impact of mergers on the efficiency of Islamic banks in Indonesia, mainly focusing on Bank Syariah Indonesia (BSI), formed from the merger of three state-owned Islamic banks. Covering the period from 2017 to 2023, the research utilizes Data Envelopment Analysis (DEA) to assess efficiency levels before and after the merger. Secondary data from financial statements and regulatory reports are analyzed to determine changes in market concentration and performance metrics such as profitability and operational efficiency. Results indicate a general decline in the industry’s average efficiency post-merger despite BSI itself showing improvements in operational metrics. This study contributes to understanding the complex effects of mergers in the Islamic banking sector, offering insights for policymakers and stakeholders into the dynamics of corporate restructuring within the industry.

Dynamic relationship between sukuk and economic growth in Indonesia: Evidence from Vector Error Correction Model (VECM) and Wavelet Analysis Novitasari, Elva; Arundina, Tika
al-Uqud : Journal of Islamic Economics Vol. 7 No. 2 (2023): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v7n2.p243-258

This research highlights the positive development of the sukuk market in Indonesia, particularly corporate sukuk and sovereign sukuk. Sovereign sukuk experienced faster growth, despite corporate sukuk being issued earlier. Corporate sukuk is considered an economic stimulus through corporate capital expenditure, while sovereign sukuk is used for infrastructure financing. Both types of sukuk are expected to drive economic growth, although the role of sukuk in economic growth is still debated. Therefore, research under current conditions remains highly relevant. This study employs the Vector Error Correction Model (VECM). The findings indicate a positive contribution of sukuk to long-term economic growth, and economic growth has a positive impact on the sukuk market in the short term. Impulse Response Function (IRF), Variance Decomposition (VD), and Granger Causality analyses are utilized to measure the influence and causality of variables. The impact of sovereign sukuk on economic growth, including the period during the Covid-19 pandemic, has increased compared to the pre-pandemic period. Wavelet analysis is also employed to explore the movements of retail and non-retail sovereign sukuk concerning economic growth in various time periods. The movements of retail sovereign sukuk may serve as an indication of economic growth, and a strong correlation is found between retail sovereign sukuk and economic growth.

BANK RUN AND STABILITY OF ISLAMIC BANKING IN INDONESIA Kasri, Rahmatina A.; Arundina, Tika; Indraswari, Kenny D.; Prasetyo, M. Budi
Journal of Islamic Monetary Economics and Finance Vol 3 No 1 (2017)
Publisher : Bank Indonesia

Bank run is an important economic phenomenon which increasingly occurred in in modern banking system and potentially threatened banking stability as it could trigger a banking crisis. However, most studies related to bank run focus on the occurrence of bank run in conventional banking system. Very few of them discuss the bank run phenomenon under Islamic banking system or dual banking system where Islamic banks jointly operating with conventional banks. Therefore, this study attempts to analyze the determinants of bank run in the Indonesian Islamic banking industry by employing primary data from 256 customers of Indonesia Islamic banks in 2015 and by utilizing factor analysis and descriptive statistics. In theory, Islamic banks tend to be more resilient towards any macroeconomic or financial shocks as compared to conventional banks due to the nature of its asset-based and risk-sharing arrangement. However, the result exhibits that both psychological and fundamental factors (i.e. macroeconomics and bank fundamentals) strongly influence the behaviors of Islamic banking depositors to withdraw their funds, which might trigger the occurrence of bank runs in the country. Insider information, macroeconomic condition and bank fundamental factors are also shown to have the highest impacts among all variables. Hence, in the context of banking stability, the finding implies that Islamic banks are not completely immune to the impacts of macroeconomic shocks or financial crisis. As a country with a dual banking system, Indonesia had experienced several bank runs since 1990s. Therefore, the findings of the study should provide the policy makers important insight into research based-policy in order to attain financial stability as one of the main economic goals of the country.

THE ROLE OF ISLAMIC FINANCIAL INCLUSION IN POVERTY, INCOME INEQUALITY, AND HUMAN DEVELOPMENT IN INDONESIA Novreska, Sasiaprita; Arundina, Tika
Journal of Islamic Monetary Economics and Finance Vol 10 No 1 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i1.1973

This study empirically analyses the role of Islamic financial inclusion in overcoming poverty, income inequality, and human development problems by employing yearly panel data of 33 provinces in Indonesia from 2014 to 2022. The results show that, except Aceh and DKI Jakarta, all provinces in Indonesia have low Islamic Financial Inclusion Index (IFII). Our analysis reveals that Islamic financial inclusion exerts significant roles in poverty reduction and human development improvement, while it is insignificantly related to income inequality. During the Covid-19 pandemic, the effect on human development of financial inclusion is further strengthened. We further note that the effects of Islamic financial inclusion depends on the levels of Human Development Index (HDI), where poverty reduction and human development improvement are apparent only in provinces with high and very high HDI.

Driving Factor of Indonesian Muslims' Intention in Household Food Waste Management: Generational Comparison Anggiana Diniary; Kenny Devita Indraswari; Tika Arundina
AL-MUZARA'AH Vol. 12 No. 1 (2024): AL-MUZARA'AH (June 2024)
Publisher : Department of Islamic Economics, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jam.12.1.123-136

Food waste in Indonesia is predicted to increase if the problems are not taken seriously. The role of food waste management is essential to reduce its effects on the environment, society, and economy. Studies on the driven factor of intention to manage household food waste between generations are still limited. We address this gap by developing a research model with the Theory of Interpersonal Behavior includes economic and religiosity factors to explain food waste management behavioral intention between generations. The result shows that anticipated guilt, sense of community, awareness of consequences, environmental knowledge, financial concern, and religiosity are positively associated with managing food waste in generations Y and Z. However, this study did not find a significant relationship between financial concern and recycling intention. Further, anticipated guilt did not have an impact on the reuse intention of Generation Y, financial concern factor did not significant on the reuse intention of Generation Z, and religiosity did not show an impactful effect on reducing, reusing, and recycling intentions of Generation Z. The findings provide implications for developing strategies to encourage food waste management in Indonesia household.

Pengaruh Pendidikan Perempuan dan ICT terhadap Partisipasi Angkatan Kerja Perempuan di Negara Anggota OKI Husein, Farid; Aswin, Tika Arundina
PAKAR Pendidikan Vol 23 No 1 (2025): Published in January 2025
Publisher : Universitas Negeri Padang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24036/pakar.v23i1.604

In recent decades, OIC member countries have faced low female labor force participation rates, influenced by various factors, such as education, fertility, income, norms, and culture. One strategy to increase this participation is to improve the quality and quantity of women's education and the utilization of ICT, particularly the Internet. Information and Communication Technology (ICT) is the fusion of various sectors, especially in services and manufacturing, involving sending, retrieving, or delivering information and data electronically. This study aims to identify the effect of education moderated by ICT utilization, especially the Internet, on female labor force participation in high- and low-income OIC member countries, utilizing secondary data from 2008 to 2021. This research method uses a panel data approach with fixed effect model estimation. The results show that ICT positively affects female labor force participation driven by women's education and sound financial development in high-income OIC member countries. In low-income OIC countries, education has not been able to encourage the role of ICT to increase female labor force participation. In low-income OIC member countries, ICT, with good financial development, can increase women's labor force participation. OIC member countries need to increase investment in ICT access and infrastructure, especially in low-income countries, and improve the quality of education and financial development to support the utilization of ICT in encouraging women's labor force participation.

BANK RUN AND STABILITY OF ISLAMIC BANKING IN INDONESIA Kasri, Rahmatina A.; Arundina, Tika; Indraswari, Kenny D.; Prasetyo, M. Budi
Journal of Islamic Monetary Economics and Finance Vol. 3 No. 1 (2017)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v3i1.709

Bank run is an important economic phenomenon which increasingly occurred in in modern banking system and potentially threatened banking stability as it could trigger a banking crisis. However, most studies related to bank run focus on the occurrence of bank run in conventional banking system. Very few of them discuss the bank run phenomenon under Islamic banking system or dual banking system where Islamic banks jointly operating with conventional banks. Therefore, this study attempts to analyze the determinants of bank run in the Indonesian Islamic banking industry by employing primary data from 256 customers of Indonesia Islamic banks in 2015 and by utilizing factor analysis and descriptive statistics. In theory, Islamic banks tend to be more resilient towards any macroeconomic or financial shocks as compared to conventional banks due to the nature of its asset-based and risk-sharing arrangement. However, the result exhibits that both psychological and fundamental factors (i.e. macroeconomics and bank fundamentals) strongly influence the behaviors of Islamic banking depositors to withdraw their funds, which might trigger the occurrence of bank runs in the country. Insider information, macroeconomic condition and bank fundamental factors are also shown to have the highest impacts among all variables. Hence, in the context of banking stability, the finding implies that Islamic banks are not completely immune to the impacts of macroeconomic shocks or financial crisis. As a country with a dual banking system, Indonesia had experienced several bank runs since 1990s. Therefore, the findings of the study should provide the policy makers important insight into research based-policy in order to attain financial stability as one of the main economic goals of the country.

THE ROLE OF ISLAMIC FINANCIAL INCLUSION IN POVERTY, INCOME INEQUALITY, AND HUMAN DEVELOPMENT IN INDONESIA Novreska, Sasiaprita; Arundina, Tika
Journal of Islamic Monetary Economics and Finance Vol. 10 No. 1 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i1.1973

This study empirically analyses the role of Islamic financial inclusion in overcoming poverty, income inequality, and human development problems by employing yearly panel data of 33 provinces in Indonesia from 2014 to 2022. The results show that, except Aceh and DKI Jakarta, all provinces in Indonesia have low Islamic Financial Inclusion Index (IFII). Our analysis reveals that Islamic financial inclusion exerts significant roles in poverty reduction and human development improvement, while it is insignificantly related to income inequality. During the Covid-19 pandemic, the effect on human development of financial inclusion is further strengthened. We further note that the effects of Islamic financial inclusion depends on the levels of Human Development Index (HDI), where poverty reduction and human development improvement are apparent only in provinces with high and very high HDI.

Title

Found 12 Documents
Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title Search

Found 12 Documents Search

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Title

Found 12 Documents
Search