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All Journal Economic Journal of Emerging Markets Jurnal Ekonomi & Keuangan Islam Proceeding of Conference on Islamic Management, Accounting, and Economics Journal of Islamic Monetary Economics and Finance Jurnal Abdimas Madani dan Lestari (JAMALI) International Journal of Economics, Business and Accounting Research (IJEBAR) International Journal of Zakat (IJAZ) Al-Awqaf: Jurnal Wakaf dan Ekonomi Islam Journal of Islamic Economic and Business Research Share: Jurnal Ekonomi dan Keuangan Islam Mutanaqishah: Journal of Islamic Banking Mutanaqishah: Journal of Islamic Banking
Achmad Tohirin
Fakultas Bisnis Dan Ekonomika, Universitas Islam Indonesia, Yogyakarta, Indonesia
Religion Agriculture, Biological Sciences & Forestry Humanities Civil Engineering, Building, Construction & Architecture Computer Science & IT Economics, Econometrics & Finance Social Sciences Other

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Journal : Economic Journal of Emerging Markets

 1 
Implementasi Perbankan Islam: Pengaruh Sosio-Eko¬nomis Dan Peranannya Dalam Pembangunan Achmad Tohirin
Economic Journal of Emerging Markets Vol. 8 No. 1 (2003)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.v8i1.642

Abstract

The major distinctive feature of the Islamic banking as compared to the conventional one lies on the pricing mechanism. The ‘new’ system applies variable pricing mechanism, as reflected on the Profit and Loss Sharing (PLS) system, meanwhile the ‘old’ system applies fixed pricing mechanism, as reflected on the Interest Based (IB) system. Several implications arise from this very basic difference. This paper discusses the implementation of Islamic banking, its socio-economic effect and its role in the development. As a new type of banking system, Islamic banking attracts serious attention from the business players and regulatory authority as well, around the world. The discussion in this paper includes comparison be¬tween these two systems on several instances; the socio-economic effect of the implementa¬tion of Islamic banking; and its role on the (economic) development. In addition the paper also prescribes the direction and the policy required for developing Islamic bank.Keywords: Islamic banking, Profit and Loss Sharing, community welfare
Financial constraints and Islamic finance: Lesson learned from external financing perspective Achmad Tohirin; Mohd Adib Ismail
Economic Journal of Emerging Markets Volume 8 Issue 2, 2016
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/ejem.vol8.iss2.art2

Abstract

This study examines the presence of financial constraints and explores the role of profit-loss sharing (PLS) in mitigating the problem of the financial constraints stemmed from the capital market imperfections. Using Malaysian listed companies’ data, this study finds that the financial constraints are present in the capital market. This finding implies the imperfect capital market. In Islamic PLS framework, there are two options of financing contracts that may be enforced in the capital market as financing mechanisms, i.e. al-musharakah and al-mudharabah. These schemes promote sharing of information and mutual trust between financiers and ‘borrowers’. In these contracts, there are strict terms and conditions to be adhered to by both parties so that the contracts pursue to be valid. Besides, PLS mechanism may reduce the cost of capital since the profit and loss are shared rather than be burdened only on one shoulder. In this regard, the imperfect market problems namely asymmetric information, agency problem and transaction cost can be reduced if not be overcome.
Co-Authors Abdul Ghafar Ismail Anggi Aprian Syaputra Ataina Hudayat Ataina Hudayati Edi Supriadi Eko Atmadji Eva Nurul Huda Jaka Sriyana Khoirul Umam Mohd Adib Ismail Muhammad Afiat Anang Luqmana Mustika Noor Mifrahi Nila Juniarty Nurul Fadhilah Siti Achiria Sri Murtiningsih Zuraidah Mohd-Sanusi