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Interaction between Islamic Financial Development and Economic Growth: Empirical Evidence from Indonesia Ambariyanto Ambariyanto; Muslich Anshori; Imron Mawardi; R Moh Qudsi Fauzi
MediaTrend Vol 18, No 1 (2023): MARET
Publisher : Trunojoyo University of Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21107/mediatrend.v18i1.19201

Abstract

Financial development and economic growth have been thoroughly analyzed in the literature extensively. The discussion revolved on whether the financial sector leads the real sector in the process of economic development or whether it is the other way around. There is now no consensus on the causal relationship between financial development and economic growth. So, it is necessary to determine the relationship between financial development and economic growth in order to make accurate economic growth estimations. This paper examines an interaction model between Islamic financial development and economic growth that assumes the consumption of real resources by the financial sector. This research used Hadri Lagrange-Multiplier to investigate association’s path between variables. As a result, the interaction between Islamic financial development and economic growth may be unidirectional. However, the Islamic financial system is unsustainable, the Islamic financial market's contribution remains modest, and this could not eventually contribute to economic growth significantly. In addition, the results of this study reveal that the development of Islamic financial institutions in Indonesia has not yet had a significant effect on the welfare of Indonesian society. Due to rising demand for financial services, it was believed that economic growth drives finance in developing nations. Moreover, Economic growth fosters competition among financial intermediaries, resulting in more efficient financial transactions and, consequently, increased growth.
Analysis of Women Social Entrepreneurship on Micro and Small Enterprises Nurul Asfiah; Muslich Anshori; Imron Mawardi
Journal of Innovation in Business and Economics Vol. 2 No. 01 (2018): Journal of Innovation in Business and Economics
Publisher : Faculty of Economics and Business, University of Muhammadiyah Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22219/jibe.v2i01.5736

Abstract

Small, and Medium-sized Enterprises (SMEs) are one of the main actors for national development process. This research is intending to explore the phenomenon or symptom of socio-economic problems in those SMEs. That done by observing women entrepreneur, especially social entrepreneurship subject in Micro and Small Enterprises, that become the member of economic program BUEKA. Therefore, this is a qualitative research with phenomenology approach. Data seeking is directly involved observation or Participating Observation in some of the entrepreneurship events that held by ‘Aisyiyah Movement, and thereafter record it in detail. Collecting data is done with interview about: 1) SMEs relation pattern with the companion institutions, 2) Comprehensive illustration about women empowerment in SMEs entrepreneur, 3) Activities that have been done by those women entrepreneurs are categorized as social entrepreneurship. And then, this research is completed thorough indepht interview for discovering data that is started from the key informant. The result from this research is ‘Aisyiyah is a women organization that driven to improve the life quality of women and family, with social entrepreneurship.
Cash Waqf Optimization as a Means of Social Financing for State Infrastructure Development Tika Widiastuti; Muhamad Nafik Hadi Ryandono; Imron Mawardi; Wisudanto Wisudanto; Muhammad Ubaidillah Al Mustofa
Journal of Infrastructure Policy and Management (JIPM) Vol. 3 No. 1 (2020): Journal of Infrastructure Policy and Management (JIPM)
Publisher : PT Penjaminan Infrastruktur Indonesia (Persero)

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

This study examines the potential for cash waqf as a source of social financing for infrastructure development. This research then builds the best model to optimize cash waqf using Sharia financial technology. This research will discuss some of the problems that hamper the development of cash waqf in Indonesia as well as providing some solutions to further enhance its development.
Literature Analysis of Warehouse Financing in Indonesia: Mapping The Barriers and Solutions For Development Imron Mawardi; Muhammad Ubaidillah Al Mustofa; Tika Widiastuti; Eka Puspa Dewi; Puput Rosita; Diaz Tulus Anandri
Business Review and Case Studies Vol. 5 No. 2 (2024): BRCS, Vol 5 No 2, August 2024
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/brcs.5.2.212

Abstract

Background: Over the last five years, transactions and warehouse receipt utilization have shown a significant decline. In 2023, there was a recorded growth of -30% in warehouse receipt financing, while the growth in warehouse receipt issuance was -25.15%. This condition indicates that Indonesia's warehouse receipt system management is not optimal. Purpose: This study aimed to provide an overview of Indonesia's warehouse receipt system (WRS) by analyzing issues that hindered its development and formulating solutions to tackle those issues.Design/methodology/approach: This research employed a systematic literature review (SLR) approach. Scopus and Sinta indexed journals were used, from which we selected 33 of 378 previous studies. We divided the findings of this study into internal and external problems and solutions.Finding/Result: The findings of this study were divided into internal and external problems and solutions. Internal issues included farmers not meeting the minimum deposit requirements, lack of awareness of the WRS, limited access to WRS, and competitive costs. Meanwhile, external problems included a distant warehouse location from the production site, inadequate facilities, poor management quality, limited availability of warehouses that met standards, and government support. Internal solutions included establishing a cooperative body, increasing production output through smart farming, providing access to financial capital, education, and socialization of WRS, and government subsidies to reduce operational costs. Meanwhile, external solutions consisted of building a warehouse near the production site, repairing facilities, training for warehouse management, coordinating with financial institutions, and accelerating policies on developing WRS in Indonesia.Conclusion: The most frequently discussed problem was that farmers had to bear costs such as rental fees, transportation fees, processing fees, and insurance fees. To strengthen farmer groups, the government needed to provide farmers with bailout funds and capital assistance. Stakeholders could use the study's findings to formulate policy recommendations to aid in the development of WRS. We anticipated that WRS development would benefit Indonesia's economic development, particularly the agricultural sector.Originality/value (State of the art): Based on the researcher's observations, no WRS analysis has been found using the SLR approach. This method was chosen because it is considered appropriate for reviewing literature that has been conducted in the context of WRS. Keywords: literature review, agricultural economics, warehouse receipt system, problem, solution
Impact of Green Banking Implementation, Financial Performance, and Covid-19 Crisis on Islamic Bank Profitability in Indonesia Ramdani, Ramdani; Mawardi, Imron; Sulaeman, Sulaeman
International Journal of Islamic Economics and Finance (IJIEF) Vol 6, No 2 (2023): IJIEF Vol 6 (2), July 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/ijief.v6i2.16802

Abstract

The purpose of this research is to test empirically the impact of green banking implementation, financial performance, and Covid-19 crisis on Islamic bank profitability in Indonesia for the period of 2015-2021. This study uses two quantitative approaches, specifically static panel data method and dynamic panel data method (generalized method of moments or GMM). The secondary data used in this paper with a total sample of 10 Islamic commercial banks in Indonesia. This study finds that the implementation of Green Banking as the main determinant has a significant relationship to the profitability of Islamic Banks in Indonesia. The study also finds that financial performance variables such as CAR, NPF, and OEF show that contribution to the level of Islamic bank profitability in Indonesia. Further, other finding regarding the dummy crisis variable, Covid-19 crisis finds that a strong relationship to the Islamic bank profitability. It means that Covid-19 crisis will impact negatively to Islamic bank profitability in Indonesia. Based on the results of the robustness check, the model in this research is stated to be robust. The findings are expected to be useful for policy makers as well as for Islamic banking circles. Research results can be used as input in formulating policies in achieving sustainable development goals and economic and social recovery programs after the Covid-19 pandemic.
THE INFLUENCE OF INTERNAL AND EXTERNAL FACTORS ON THE PROFITABILITY OF ISLAMIC COMMERCIAL BANKS IN INDONESIA Sopingi, Imam; Tjiptohadi Sawarjuwono; Imron Mawardi; Kusnul Ciptanila Yuni K.
Jurnal RAK (Riset Akuntansi Keuangan) Vol. 8 No. 2 (2023): October 2023
Publisher : Universitas Tidar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31002/rak.v8i2.1136

Abstract

This study aims to investigate the influence of internal and external factors on the Islamic Commercial Banks' Profitability in Indonesia. The internal factors consist of Capital Adequacy Ratio (CAR), Financing to-Deposits (FDR), Non-Performing Loan (NPF), Cost Inefficiency (BOPO), and Net Operating Profit Margin (NPM) meanwhile the external factors consist of Third-Party Deposits (DPK) and Interest rate. Profitability is one of the important factors in the success and continuity of a company's operations. The method used is regression analysis using monthly data from June 2018 to June 2023. The data used include CAR, FDR, NPF, BOPO, NOM, DPK, and ROA from the Financial Services Authority (OJK) meanwhile the interest rate through the Central Bureau of Statistics (BPS) website. The results showed that CAR, FDR, and Interest Rate did not affect profitability. NPF and NOM have a positive effect on profitability meanwhile BOPO and DPK have a negative effect on profitability.
Dampak Ekonomi Makro terhadap Inward Forect Direct Investment (FDI) di Indonesia Almustofa, Muhammad Ubaidillah; Mawardi, Imron; Widiastuti, Tika; Sukmana, Raditya; Hanoraga, Tony; Nisa, Khairun; Febrianti, Puput Rosita
JURNAL SOSIAL HUMANIORA (JSH) Vol 17, No 1 (2024)
Publisher : Institut Teknologi Sepuluh Nopember

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12962/j24433527.v17i1.20201

Abstract

This paper investigates the country-specific risks associated with inward foreign direct investment (FDI) in Indonesia and analyzes the broader macroeconomic consequences. The study utilizes the Autoregressive Distributed Lag (ARDL) model to examine both the short-term and long-term cointegration between macroeconomic factors and foreign investment inflows. The research is based on secondary annual time series data from 1984 to 2015. In the short term, the exchange rate has a crucial impact, as depreciation of the Indonesian Rupiah leads to a higher inflow of FDI. However, while financial variables do not significantly affect the dependent variable in the long term, independent variables such as inflation, GDP growth risk, and economic and political risks do have a considerable effect. Rational foreign investors prioritize maximizing returns on their investments by closely monitoring the volatility of macroeconomic conditions. Thus, it is imperative for the government to regulate these aspects to enhance the inflow of foreign investments.
RAISING COMMUNITY AWARENESS OF HALAL PRODUCT CONSUMPTION AND HALAL LIFESTYLE: A TRIPLE HELIX MODEL Mardhiyah, Dien; Mawardi, Imron; Widiastuti, Tika; Al Mustofa, Muhammad Ubaidillah; Abdullah, Syahidah; Sinulingga, Rizky Amalia; Saptowati, Errin Dwi
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 9 No. 2 (2023): JULY - DECEMBER 2023
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v9i2.48403

Abstract

This study formulates a triple helix model for increasing community awareness of halal product consumption and lifestyle. It is essential to increase halal awareness not only as a form of religious obedience but also to provide consumers protection, improve product quality, encourage product innovation, and fulfil international standards. This qualitative study constructs a Triple Helix model using a descriptive analysis technique and the Inputs, Activities, Outputs, Outcomes, and Impact (IAOOI) Approach. The findings indicate that the government is crucial in answering the research question. The government is expected to provide optimal support for creating such an environment through laws, regulations, infrastructure development, and other methods. Academicians are responsible for conducting scientific research in the halal industry and social programs and disseminating their findings to the general public. Practitioners in the halal industry can participate in community-based events to increase public awareness of halal products and lifestyles. This research contributes to developing relevant policies for related stakeholders to increase community awareness of halal product consumption and lifestyle.
The Moderating Role of Merger on the Switching Intention to Use Islamic Bank: The Case of Indonesia Matsahri, Matsahri; Widiastuti, Tika; Masrizal, Masrizal; Mawardi, Imron; Atiya, Nikmatul; Sadikin, Muhamat Ali
Journal of Accounting Research, Organization and Economics Vol 7, No 2 (2024): JAROE Vol. 7 No. 2 August 2024
Publisher : Universitas Syiah Kuala

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24815/jaroe.v7i2.36470

Abstract

Objective Since February 2021, the government decided to merge 3 Islamic banks to increase Islamic bank markets. This policy raises pros and cons in society. This research analyses the mediating role of mergers on the switching intention to use Islamic banks.Design/Methodology This research is a quantitative study using the Structural Equation Model Partial Least Square (SEM-PLS). A total of 108 respondents' data were analyzed. The data was collected through an online survey utilizing social media which was shared directly with respondents in the city of Surabaya. The respondents' criteria were selected using purposive sampling techniques.Results The moderating effects showed that the merger was a poor moderator of the reality between attitude, subjective norms, and perceived behavioral control on the switching intention to use Islamic banks. However, the direct effects showed a significant relationship between mergers and switching intention. Besides, this study shows that attitude, subjective norm, and perceived behavioral control have a significant influence on switching intention. Subjective norm is the most dominant factor.Research limitation/implication This study uses limited variables and was carried out shortly after the merger of Islamic banks. However, this study provides a comprehensive analysis related to the relationship between mergers and switching intention. The implications of this research urge the government as a policymaker to do its best to increase public awareness of Islamic banks. Islamic bank managers must conduct massive socialization by utilizing various existing technologies and media to reach all levels of society to use Islamic banking services.Contribution This study emphasizes the significance influence of subjective norm and switching intention. Thus, the government and Islamic banks must intensify socialization of Islamic bank to encourage Islamic bank users.Novelty/Originality This study complements the literature by analysing the impact of Islamic bank mergers with switching intention to use Islamic banks as far as the authors' knowledge of merger research is still limited to analysing the performance of Islamic banks after the merger.
Implementation of Performance Appraisal for Islamic Bank in Indonesia Using CAMELS Method Sodiq, Ahmad; Ratnasari, Ririn Tri; Mawardi, Imron; Pitchay, Anwar Allah
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 13 No. 2 (2024): October
Publisher : LPPM, Universitas Islam Syarifuddin Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54471/iqtishoduna.v13i2.2457

Abstract

The assessment of Islamic bank performance measured by the CAMELS method through the 2016-2020 CAR analysis as of January shows that the performance of Islamic commercial banks from year to year shows an increase in the management of Islamic bank management. Where it can be seen that in 2016 to 2020 as of January Islamic commercial banks showed a very healthy condition because they were in the CAR position> 11%. ROA, is used to measure the health of the bank from the income aspect by comparing the net profit achieved with the total assets owned by the bank. The condition of the NPF of Islamic Banks is very healthy as indicated by the small number of bad debts and problematic financing by customers at Islamic banks. Meanwhile, the condition of the LDR of Islamic Banks fluctuates where in 2016 the LDR was in an unhealthy predicate of 85.99%, and in 2017 to January 2020 it was in a very healthy condition because it was in a position of more than 100%. BOPO of Islamic general banks showed unhealthy conditions in 2016, then experienced a significant increase in 2017 in healthy conditions and in 2018 until January 2020 in very healthy conditions.
Co-Authors Abdullah, Syahidah Achmad Hijri Lidnillah Achmad Hijri Lidnillah, Achmad Hijri Achmad Kharis Adhama, Gabriella Jodie Afifa, Ulfia Nur Ahmad Sodiq, Ahmad Ainur Rachman Ainur Rachman, Ainur Ainur Rofiq Kurniawan Ajeng Gama Rosyida Al Ma'rifatul A'la Al Mustofa, Muhammad Ubaidillah Almustofa, Muhammad Ubaidillah Ambariyanto Ambariyanto Anisa Priyanka Jasmine Anwar Allah Pitchay, Anwar Allah Aprilidya Ayu Parandita Ananta Apriwiliza, Gita Ardiantono, Dewie Saktia Ardina Talitha Nidya Arfiani, Ninda Ari Prasetyo Arifin, Nur Rachmat Ariska Oktavia Arni Dini Inayati Asya'bani, Nispia Atiya, Nikmatul Aufar Fadlul Hady Aulia Ramadhani Aysha Dhamaring Nugroho Azel Raoul Reginald Azel Raoul Reginald, Azel Raoul baharsyah, akmal ilham Bayu Wardhana Bintang Hanifian Syahdana Bintang Pratama Buana Putra Bonang, Dahlia Candika, Yossy Imam Clarashinta Canggih Diamantin Rohadatul Aisy Dian Anggraini Diaz Tulus Anandri Diaz Tulus Anandri Dien Mardhiyah Dzikri Nurrohman Eka Puspa Dewi Eka Puspa Dewi Eko Fajar Cahyono, David Kaluge Ergun, Hüseyin Fahamsyah, Mohammad Hatta Fahmy Zarkasyi, Hamid Faizurrahman, Umar Haidar Fakhrana, Fathaniadina Falah, Yusril Faridatun Nila Faridatun Nila Faridatun Nila Fary Adisetya Putra Fathaniadina Fakhrana Febrianti, Puput Rosita Febrinda Eka Damayanti Fihrist Rayhan Deqauni Firsty Izzata Bella Fithrotin Azizah Rahmah Fitri Nur Latifah Gabriella Jodie Adhama Gea Papurane Langi Hanifiyah Yuliatul Hijriah, Hanifiyah Yuliatul Hanoraga, Tony Huzein Satrio Prasetyawan Ilham Nur Agustha Ilham Nur Agustha, Ilham Nur Ilmiawan Auwalin Imam Sopingi Iman, Shofal Indi Masita Lisdawami Indra Kharisma Raharjana Insani, Taqiyah Dinda Insani, Taqiyah Dinda Ira Erlinawati Ira Erlinawati, Ira Ishma Amelia Jihad Jihad Jihad, Jihad Khoirul Umam Kurniawan, Ainur Rofiq Kusnul Ciptanila Yuni K Kusuma, Aditya Latifah, Nuria Machfud, Syafrina Mahmudah, Siti Nur Matsahri, Matsahri Mirna Ainurrachma Moch. Ali Fudin Al Islami Moh Fudholi Moh. Fudholi Moh. Fudholi Mohammad Haidar Risyad Muhamad Nafik Hadi Ryandono Muhamad Nafik Hadi Ryandono, Muhamad Nafik Muhammad Adlan Muhammad Ali Nuruddin Muhammad Sanusi Muhammad sanusi Muhammad Syauqi Muhammad Ubaidillah Al Mustofa Muhammad Ubaidillah Al Mustofa Muhammad Ubaidillah Al Mustofa Muhammad Ubaidillah Al Mustofa Muhammad Ubaidillah Al-mustofa Muhammad Wicaksono Hasdyani Putra Muslich Anshori Muslich Anshori Muslich Anshori Mustofa, Muhammad Ubaidillah Al Mutmainah Mutmainah Nadia Arisanti Nareswari Saputro Nareswari Saputro, Nareswari Nauval Fadhillah Gusti Wijaya Nidya, Ardina Talitha Nikmatul Atiya Nila, Faridatun Nisa, Khairun Nisful Laila Norma Rosyidah Norma Rosyidah, Norma Nova Rini Nova Rini Novalia Nastiti Novalia Nastiti, Novalia Novita Novita Nur Rachmat Arifin Nur Rachmat Arifin Nurrohman, Dzikri Nurul Asfiah Nurul Asfiah Okyviandi Putra Erlangga Ongky Martha Dwiyananda Ongky Martha Dwiyananda, Ongky Martha Pramita Agustin Pramita Agustin, Pramita Puji Sucia Sukmaningrum Puput Rosita Putra, Fary Adisetya Putra, Muhammad Wicaksono Hasdyani R Moh Qudsi Fauzi R Wahyu Agung Utama R Wahyu Agung Utama R. Wahyu Agung Utama R. Wahyu Agung Utama R. Wahyu Agung Utama Rachman Sugiharno Raditya Sukmana Rahmadany, Zhahirah Adriana Ramdani Ramdani Rani, Lina Nugraha Renny Oktafia Renny Oktafia, Renny Ridan Muhtadi Rifqul Ma'isyah Ririn Tri Ratnasari Risyad, Mohammad Haidar Rosana Puspasari Rosana Puspasari, Rosana Rosidi, Dinda Oktaviona Rosyidi, Luthfi Sadikin, Muhamat Ali Samsidar Widiarso Saptowati, Errin Dwi Sarker, Md Atiqur Rahman Setiyo Aji Shabbir, Malik Shahzad Sinulingga, Rizky Amalia Siti Maisaroh Siti Maisaroh Siti Nur Azizaturrohmah Siti Nur Azizaturrohmah, Siti Nur Siti Nur Mahmudah Siti Zulaikha Siti Zulaikha Soleh, Mochamad Sri Hartini Sri Herianingrum Sri Ningsih Sulaeman Sulaeman Sunan Fanani, Sunan Sunarno Sunarno Taqiyah Dinda Insani Taufan Indrasasmita Tika Widiastuti Tjiptohadi Sawarjuwono Ubaidi, Ubaidi Utama, R Wahyu Agung Utama, R. Wahyu Agung Wahid , Wahyu Wibisono Wisudanto Wisudanto Yan Putra Timur Yanuar Dharma Putra Zaim Nur Afif Zaim Nur Afif, Zaim Nur Zaimy Johana Johan Zain, Nur Habiba Zainal Abidin Zakaria, Nor Balkish