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PELATIHAN EKONOMI DAN KEUANGAN SYARIAH DALAM RANGKA PEMBENTUKAN BAITUL MAL WAT TAMWIL Herianingrum, Sri; Cahyono, Eko Fajar; Rani, Lina Nugraha; Rusmita, Sylva Alif
Studi Kasus Inovasi Ekonomi Vol 3, No 01 (2019)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (67.584 KB) | DOI: 10.22219/skie.v3i01.6935

Abstract

The background of this activity was to fulfill the aspirations of the Muslims of Bandar Kidul village, Mojoroto Subdistrict, Kediri City to carry out economic activities following Islamic rules and the potential capabilities and skills possessed by management and members of the Fascho cooperative to manage Islamic microfinance institutions such as Baitul Wat Tamwil . The purpose of this community service activity is to provide understanding, knowledge, and skills to the management and members of the Fascho cooperative who are engaged in Mojoroto Subdistrict, Kediri City about Islamic economics and Islamic Finance. The activity took place in May 2018, and the actions were in the form of workshop and socialization about Islamic economics and Islamic finance. The article is expected to be a provision for administrators and members to establish Baitulmal wat Tamwil. The results of the activities were in the form of increased awareness of the community around the location of the community service and the increased knowledge and skills of the members and administrators of the Fascho Cooperative so that they were better prepared to establish the BMT.
PENDIRIAN BANK SAMPAH PADA KELOMPOK IBU RUMAH TANGGA DI DESA JATITENGAH, BOJONEGORO Ajija, Shochrul Rohmatul; Muryani, Muryani; Rusmita, Sylva Alif
Studi Kasus Inovasi Ekonomi Vol 4, No 1 (2020)
Publisher : Fakultas Ekonomi dan Bisnis Universitas Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/skie.v4i1.10076

Abstract

Jatitengah Village is one of the villages located in Sugihwaras District, Bojonegoro Regency. The main problem being faced by Jatinegara village is poverty and waste. The community is less able to manage waste properly. Much garbage is thrown in the garden or rice field. Seeing these conditions the establishment of a waste bank is very important to do, so that people are aware of a healthy and clean environment. In addition the community can increase income through waste management. There are 4 (four) outcomes of this program. Among them are 1) publications in ISSN journals; 2) publication in print / electronic mass media; 3) video of the activity; and 4) availability of adequate facilities and infrastructure of the waste bank and the operation of the waste bank properly.
Indonesian Islamic Commercial Banks’ Efficiency: A Stochastic Frontier Analysis Rusmita, Sylva Alif; Putri, Devy Ariesta
Shirkah: Journal of Economics and Business Vol 5, No 3 (2020)
Publisher : IAIN Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1009.978 KB) | DOI: 10.22515/shirkah.v5i3.283

Abstract

Islamic banks in Indonesia are continuously experiencing a rapid growth; thus, it results in a competitive financial sector. Consequently, maintaining an excellent performance is a prerequisite to gain customers’ trust and loyalty, one of the ways is enhancing productivity and efficiency performance. Drawing on this issue, the present study aims to examine the efficiency of Islamic banks listed in the Financial Services Authority (OJK) in the period of 2015 to 2019. Employing Stochastic Frontier Analysis (SFA) as a parametric approach, this study measured the efficiency level of cost and profit efficiency of the Indonesian Islamic commercial banks. The data were a cross-section and panel data obtained from financial reports established by seven Indonesian Islamic commercial banks. The result of frontier analysis on the efficiency costs showed that the value of sharia banks’ average efficiency in Indonesia was approximately 93.41%, while the efficiency of profit resulted in 55.35%. These results suggest that Islamic banks tend to be efficient in controlling costs from the year of 2015 to 2019. It is a worth saying that this study’s results contribute to providing fruitful insights for Islamic banks to increase their efficiency by controlling their cost of production such as the cost of funds and cost of operation.
Islamic Economic Student’s Knowledge and Attitude Toward Halal Pharmacy Product in East Java, Indonesia Rusmita, Sylva Alif; Ryandono, Muhamad Nafik Hadi; Filianti, Dian; Mohd Salleh, Marhanum Che
al-Uqud : Journal of Islamic Economics Vol 5, No 1 (2021): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (365.559 KB) | DOI: 10.26740/al-uqud.v5n1.p1-15

Abstract

A Muslim has a limitation in consuming or wearing something. A Muslim is only permitted to consume something halal, either in food, drink, clothes, even finance. In the pharmaceutical industry, the standard of Halal Pharmaceutical is the most crucial document that should be followed to standardize the quality and the safety of halal. This research will analyze the knowledge and attitude of Islamic economics students who have the basic knowledge about halal and analyze how their attitude to the halal pharmacy. The research method is qualitative, with a literature review and descriptive analysis data from the questioner. Information on the label will influence the choices before buying and or consuming the medicine on the customer site. Consumers prefer to choose medicine with a halal label so that it will also benefit industries that have halal labels. But, in halal pharmacy, customers still hard to applied halal things in medicine; even though customers understand about halal, customers' attitude does not imply the principle of halal in the medicine.
DETERMINANTS OF CORPORATE BOND AND SUKUK RATINGS IN INDONESIA Afifatun Ni’mah; Nisful Laila; Sylva Alif Rusmita; Eko Fajar Cahyono
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1106

Abstract

This study aims to determine the factors, both financial and non-financial, which influence corporate bond and Sukuk ratings. The results will be useful for companies, investors or related parties as additional information and references for their investment decisions. Using ordinal logistic regression models with SPSS version 21 software, the study analyses the determinants of corporate bond and sukuk ratings listed on the Indonesia Stock Exchange (IDX) for the period 2013-2017. The variables employed are profitability, liquidity, leverage, company size, securities structure and maturity date. The results of the Wald test statistics show that leverage ratio, firm size, security structure, and maturity date are the factors that influence the probability of high or low corporate bond ratings, while profitability and liquidity ratios are factors that have no effect on the level of such ratings. With regard to sukuk, profitability, liquidity, and maturity date are the factors that influence the probability of high or low corporate sukuk ratings, while leverage ratio, company size, and security structure have no effect on the ratings.
Attitudes of Consumers Towards Islamic and Conventional Credit Cards in Indonesia Sylva Alif Rusmita; Shochrul Rohmatul Ajija
ETIKONOMI Vol 16, No 2 (2017)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (696.239 KB) | DOI: 10.15408/etk.v16i2.5519

Abstract

This study aims to analyze the attitudes of consumers towards Islamic and conventional credit cards. Using online questionnaire survey data from 51 respondents in Surabaya, East Java, the study revealed that most consumers possessed credit cards because of their convenience factor, relationship with their existing bank, and card salesmen. Therefore, the sale is the most powerful way to invite the community to have an Islamic credit card. Many customers do not care whether their credit cards are Islamic based or not, as long as the salesman promoted cards to them and the cards are able to meet their personal needs, especially for sales and purchase transactions online, they will utilize the cards. The large number of Muslims in Surabaya should be a share of the lucrative market for Islamic credit cards. Therefore, the education about the Islamic manner of consumption and the dangers of usury should be promoted in Surabaya.DOI: 10.15408/etk.v16i2.5519
Growth and Value Effect on Jakarta Islamic Index: Analysis towards Performance of Sharia Equity Mutual Fund Sylva Alif Rusmita; Marhanum Che Mohd Salleh
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 11, No 1 (2019)
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1394.415 KB) | DOI: 10.15408/aiq.v11i1.9670

Abstract

This study provides evidence that value and stocks’ growth able to explain Net Asset Value of Shariah Mutual Fund. It is important for investment managers and investors to estimate future profit or loss that may happen on their mutual funds prior they venture into the investment platform. This study therefore is conducted to prove that factors including value and growth may affect the future profit of Shariah Mutual Funds. Based on quantitative analysis with secondary data from companies indexed in the Jakarta Islamic Index and Sharia Mutual Fund from year 2013 to 2017, it is found that both growth and value of stock have equally affected the profit of Sharia Mutual Funds. In addition, growth of stock has a larger R-Square than its value which means that the investors or fund managers would need to observe the stock growth more often than its value in order to predict future profitability of Shariah funds.  It is expected that the results of this study can provide additional insight to investment managers when choosing a portfolio for investors. For investors, this information is useful to predict the risk and return that they will receive from the investment.
Faktor Dominan pada Indeks Inklusi Perbankan Syariah Sektor Pertanian di Indonesia Eko Fajar Cahyono; M. Faris Fadillah Mardianto; Sylva Alif Rusmita
Economica: Jurnal Ekonomi Islam Vol 8, No 1 (2017)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2017.8.1.1826

Abstract

The importance of financial inclusion in Islamic Bank is not only affordable for business level, but also agricultural sector. Indonesian Islamic banking as one of the providers of financial services continued to grow, but its market share is still small compared with conventional banking. Therefore financial inclusion Islamic banking, especially in reaching out to the agriculture sector, need to be improved. This study aims to measure the value of financial inclusion Islamic banks in Indonesia province in reaching the agricultural sector, both provincial and district or city. Indexing method factor analysis (Principal Component Analysis) using 14 indicators that have been adapted to the concept of Financial Inclusion Index (FII). Data correlated with Islamic Financial Institution availability can be divided into two factors which are of Islamic banking (including Islamic windows of the conventional bank) and Islamic Rural Bank. The result of the analysis is indicating that the most dominant factor provided by Islamic banking (including Islamic windows of conventional Bank). The result also present the highest index score reached by West Java Province and East Java, while the lowest index score reached by East Nusa Tenggara and West Papua Province.Keuangan inklusi bagi bank syariah sangatlah penting, bukan hanya memberikan pembiayaan pada sektor bisnis namun juga untuk sektor pertanian. Bank syariah di Indonesia sebagai salah satu lembaga keuangan yang terus berkembang memiliki potensi untuk mengembangkan keuangan inklusi walaupun pangsa pasar dari bank syariah masih lebih kecil dibandingkan konvensional. Keberadaan keuangan inklusi di bank syariah khususnya pada sektor pertanian masih perlu ditingkatkan Penelitian ini bertujuan untuk mengukur nilai keuangan inklusi di bank syariah pada sektor pertanian di seluruh provinsi yang ada di Indonesia, baik pada level provinsi, kabupaten dan kota. Penelitian ini menggunakan metode index faktor analisis (analisis komponen prinsip) dengan 14 indikator yang diadaptasi dari konsep Indeks Inklusi Keuangan. Data-data berkenaan dengan lembaga keuangan Islam yang tersedia dapat dibagi menjadi dua factor, yaitu faktor yang berkaitan dengan bank syariah (termasuk unit usaha syariah) dan Bank Pembiayaan Rakyat Syariah. Hasil analisis menunjukkan bahwa faktor yang paling dominan adalah faktor yang berkaitan dengan bank syariah dan unit usaha syariah. Hasil menunjukkan bahwa angka indeks tertinggi diraih oleh provinsi Jawa Barat dan Jawa Timur, sedangkan angka indeks terendah diraih oleh provinsi Nusa Tenggara Timur dan Papua Barat.
Identifikasi Holding Period Bank Umum Syariah di Bursa Efek Indonesia Ainun Azaria; Sylva Alif Rusmita
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 6 No. 8 (2019): Agustus-2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol6iss20198pp1733-1740

Abstract

This study aims to determine the effect of bid-ask spread, stock return and trading volume on the holding period of sharia commercial bank shares. This study uses a purposive sampling method, and from the specified criteria there were 3 Sharia Commercial Banks obtained, that meet the criteria and can be used as samples. The data used is in the form of daily reports obtained from the IDX website. This study uses a quantitative approach with descriptive analysis analysis techniques. The results of this study indicate that the stock holding period of Islamic Commercial Banks can be seen based on the bid-ask spread, stock return and trading volume.Keywords: Holding Period Saham, Bid-Ask Spread, Return Saham, Volume PerdaganganREFFERENCESAtkins, Allen B. dan Dyl, Edward A. 1997. Transaction costs and Holding Period for common stocks. The Journal of Finance. Vol. 3 No. 1.Arma, VisitaYales. (2013). Faktor Penentu Holding Period Saham LQ45 di Bursa Efek Indonesia. Journal of Business and Banking. Vol. 3, No. 2.Chung, S. & Wei, P. 2005. The relationship between bid-ask spreads and holding period: the case of Chinese A and B Shares. Global Finance Journal. Vol. 15 : 239-249.Hidayat, Taufik. 2011. Buku Pintar Investasi Syariah. Jakarta: PT. Transmedia.Huda, Nurul dan Mustafa Edwin Nasution. 2007. Investasi pada Pasar Modal Syariah. Jakarta: Prenada Media Grup.Husnan, Suad. 2009. Dasar - Dasar Teori Portofolio dan Analisis Sekuritas. Edisi Keempat. Yogyakarta: LPP STIM YKPN.Ratnasari, Desy dan Dewi Astuti. (2014). Pengaruh Bid-Ask Spread, Market Value, dan Variance Return Terhadap Holding Period. Jurnal Finiesta. Vol. 2, No. 1.Ryandono, Muhammad Nafikh H. 2009. Bursa Efek dan Investasi Syariah. Jakarta: Serambi.Santoso, Eko Budi. 2008. Analisis Pengaruh Transaction Cost Terhadap Holding Period Saham Biasa. Jurnal Riset Akuntansi dan Keuangan. Vol. 4, No. 2.Sugiyono. 2014. MetodePenelitianBisnis. Bandung: Alfabeta.Sutedi, Adrian. 2011. Pasar Modal Syariah: Sarana Investasi Keuangan Berdasarkan Prinsip Syariah. Jakarta: Sinar Grafika.Stoll. Hans R. 1989. Infering The Componen of The Bid-Ask Spread : Theory And Emprical Test. The Journal of Finance. Vol. 4, No. 1.Tandelilin, Eduardus. 2001. Portofolio dan InvestasiTeori dan Aplikasi. Yogyakarta :Kanisius.www.idx.co.id 
THE RELATIONSHIP BETWEEN SHARIA FINANCIAL INSTITUTIONS IN INDONESIA DURING THE PERIOD 2014-2018 Maulidah Atha Mukhlifah; Sylva Alif Rusmita
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 7 No. 2 (2020): Februari-2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol7iss20202pp345-355

Abstract

This study is to determine the relationship between Islamic financial institutions, both bank and non-bank financial institutions in Indonesia in the 2014-2018 period. This study uses the VAR method to process data. The results of this study are contributions from Islamic-based financial institutions in Indonesia. The Islamic capital market has a positive relationship with Islamic life insurance. This happens because, in developing countries like Indonesia, life insurance is more influential than Islamic general insurance. The relationship that occurs in the Islamic capital market and life insurance occurs because of the role of the insurance company that will buy shares in the Islamic capital market. Then, related to a negative relationship between Islamic banking and Islamic insurance. It is because every credit given by the bank will be charged for insurance. The greater the value of the credit, the higher the contribution paid. This will be considered by those who will take credit at the bank. Meanwhile, insurance companies themselves are not bound by two other financial institutions. This happens because insurance companies get capital from third parties or their customers.Keywords: Islamic Financial Institutions, Islamic Capital Markets, Islamic Banking, Islamic Insurance, VARREFFERENCE Adrian, Sutedi. (2011). Pasar modal syariah. Jakarta: Sinar Grafika.Agus D. Hardjito, Martono. (2002). Manajemen keuangan. Edisi Pertama.  Yogyakarta: Ekonisia.Antonio, Karnaen Perwataatmadja dan M. Syafi’i. (1992). Apa dan bagaimana bank Islam. Yogyakarta: Dana Bhakti Wakaf.Dendawijaya, Lukman. (2009). Manajemen perbankan. Jakarta: Ghalia Indonesia.Gujarati, Damodar. (2004). Basic econometrics (ekonometrika dasar). Alih bahasa Sumarno Zain. Jakarta: Penerbit Erlangga.Harris, R. (1995). Cointegration analysis in econometric modelling. New York: Prentice Hall.Iqbal, Muhaimin. (2006). Asuransi umum syariah dalam praktik. Jakarta: Gema Insani.Kurniawan, Todi. (2008). Volatilitas saham syariah (analisis atas Jakarta Islamic Index). Special Edition. Jakarta: Karim Review.Margono. (2004). Metodologi Penelitian Pendidikan. Jakarta: Rineka Cipta.Muhammad Abdulkadir. (2011). Hukum asuransi Indonesia. Edisi 5. Bandung: PT. Citra Aditya Bakti.Mofida, Aini Mufatul. (2011). Metode phillips-perron testuntuk menguji stasioneritas data inflasi. Malang.Nugroho, R.Y. (2009). Analisis faktor penentu pembiayaan perbankan syariah di indonesia: aplikasi model vector error. Tesis tidak diterbitkan. Bogor: Sekolah Pascasarjana, Institut Pertanian Bogor.Otoritas Jasa Keuangan. (2015). Peraturan No 15 / PJOK.04 / 2015 Otoritas Jasa Keuangan, tentang Penerapan Prinsip Syariah di Pasar Modal. Republik Indonesia, Undang-Undang Republik Indonesia Nomor 40 tahun 2014 pasal 1 ayat 30. Tentang Perasuransian.Republik Indonesia. (1995). Undang-Undang Republik Indonesia Nomor 8 tahun 1995 tentang pasar modal (pasar modal)Republik Indonesia. Undang-undang Republik Indonesia pasal 1 (butir 4) UU No. 10 tahun 1998 tentang Perubahan atas UU No. 7 Tahun 1992, tentang PerbankanRusydiana, Aam Slamet. (2009). Mekanisme transmisi syariah pada sistem moneter ganda di indonesia. Bank Indonesia: Buletin Ekonomi Moneter dan Perbankan, 11(4), 345-367.Soemitra, Andri. (2013). Shariah ethical investment products in Indonesian capital market: the debates on their integration process in the transitional stage. Proceeding of Sharia Economics Conference- Hannover. Sugiyono. (2001). Statistika untuk penelitian. Bandung: Alfabeta.