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All Journal Jurnal Iqtisad Economic Journal of Emerging Markets Jurnal Keuangan dan Perbankan Kinerja JEJAK Journal of Economics, Business, & Accountancy Ventura Journal of Indonesian Economy and Business Jurnal Ekonomi Pembangunan: Kajian Masalah Ekonomi dan Pembangunan Jurnal Ekonomi Syariah Teori dan Terapan Global Review of Islamic Economics and Business Jurnal Ekonomi dan Bisnis Islam Economica: Jurnal Ekonomi Islam Jurnal Ekonomi & Keuangan Islam Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Shirkah: Journal of Economics and Business International Journal of Islamic Business and Economics (IJIBEC) EkBis: Jurnal Ekonomi dan Bisnis Share: Jurnal Ekonomi dan Keuangan Islam WELFARE Jurnal Ilmu Ekonomi Unisia Jurnal Keuangan dan Perbankan Jurnal Kebijakan Ekonomi dan Keuangan International Journal of Islamic Business and Economics (IJIBEC)
Agus Widarjono
Department Of Economics, Faculty Of Business And Economics, Universitas Islam Indonesia
Religion Humanities Economics, Econometrics & Finance Education Environmental Science Social Sciences Other

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Sectoral Diversification and Financing Risks in Indonesian Islamic Banks Widarjono, Agus; Afandi, Akhsyim
Share: Jurnal Ekonomi dan Keuangan Islam Vol. 14 No. 1 (2025)
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.v14i1.24510

Abstract

The stability of Islamic banking is crucial for financial sustainability, and sectoral diversification plays a key role in mitigating financing risks. In Indonesia, Islamic banks operate under two models: Islamic bank windows and full-fledged Islamic commercial banks, each facing unique risk exposures. This study investigates the impact of sectoral diversification across various economic sectors on the financing risks of Indonesian Islamic banks. It also examines the role of key bank-specific and macroeconomic factors, including asset size, financing volume, operational efficiency, inflation, and the COVID-19 pandemic. Using aggregate monthly data from Islamic bank windows and Islamic commercial banks spanning January 2015 to December 2023, this study employs the Autoregressive Distributed Lag (ARDL) model to assess both short-term and long-term effects on financing risks. The results indicate that concentrated sectoral financing significantly increases financing defaults for both Islamic bank windows and Islamic commercial banks. Furthermore, while larger bank size and greater operational efficiency contribute to lower financing defaults, an increase in financing volume is associated with higher risks. Inflation and the COVID-19 pandemic further exacerbate financing defaults, particularly for Islamic bank windows. These findings underscore the importance of diversifying sectoral financing to mitigate risk. Policymakers and banking practitioners should promote balanced financing strategies complemented by stringent financing monitoring to reduce default risks and enhance financial resilience.======================================================================================================== ABSTRAK - Diversifikasi Sektoral dan Risiko Pembiayaan pada Bank Syariah di Indonesia. Stabilitas perbankan syariah sangat penting bagi keberlanjutan sektor keuangan, dan diversifikasi sektor ekonomi memainkan peran kunci dalam mengurangi risiko pembiayaan. Di Indonesia, bank syariah beroperasi dalam dua model: unit usaha syariah (Islamic bank windows) dan bank umum syariah (Islamic commercial banks), yang masing-masing menghadapi eksposur risiko yang berbeda. Penelitian ini mengkaji dampak diversifikasi sektor ekonomi terhadap risiko pembiayaan bank syariah di Indonesia. Selain itu, studi ini mengeksplorasi pengaruh variabel spesifik bank dan kondisi makroekonomi, termasuk ukuran aset, volume pembiayaan, efisiensi operasional, inflasi, serta pandemi COVID-19. Data penelitian berasal dari laporan bulanan dari Unit Usaha Syariah (UUS) dan Bank Umum Syariah (BUS) dari Januari 2015 hingga Desember 2023. Analisis data dilakukan dengan model Autoregressive Distributed Lag (ARDL) yang cocok untuk menguji efek jangka pendek dan panjang dari risiko pembiayaan. Hasil penelitian menunjukkan bahwa pembiayaan yang terfokus pada sektor tertentu secara signifikan meningkatkan risiko gagal bayar pada Islamic bank windows maupun Islamic commercial banks. Selain itu, ukuran bank yang lebih besar dan efisiensi operasional yang lebih tinggi terbukti mengurangi risiko gagal bayar, namun peningkatan volume pembiayaan justru meningkatkan risiko. Inflasi dan pandemi COVID-19 semakin memperburuk risiko gagal bayar, terutama bagi UUS. Temuan ini menegaskan pentingnya diversifikasi sektor pembiayaan untuk mengurangi risiko. Para pemangku kebijakan dan praktisi perbankan disarankan untuk mendorong strategi pembiayaan yang lebih seimbang, didukung oleh pemantauan pembiayaan yang ketat guna mengurangi risiko gagal bayar serta meningkatkan ketahanan keuangan. 
PLS Financing and Stability of Indonesian Islamic Banking widarjono, agus
International Journal of Islamic Business and Economics (IJIBEC) Vol 6 No 1 (2022): Volume 6 Nomor 1 Tahun 2022
Publisher : Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/ijibec.v6i1.4196

Abstract

Islamic banks are prohibited from using interest rates in any transaction, including financing. Instead, Islamic banks apply a profit-loss sharing (PLS) and non-PLS contract system. PLS financing consists of Musyarakah and Mudharabah. Our study analyzes the extent to which PLS financings with some control variables influence the stability of Islamic banks. This study measures stability utilizing Z-score. We employ the Autoregressive distributed lag (ARDL) model using monthly aggregate data of Islamic banks, covering from 2010:M1 to 2019:M12. According to the bound testing approach, the long-run relationship between dependent and explanatory variables is found. The PLS financings strengthen Islamic banks' stability for which Musyarakah financing enhances the stability but Mudharabah financing weakens stability. Evidence also underlines that bank characteristics such as CAR and efficiency affect stability. High CAR boosts stability but low efficiency deteriorates stability. More importantly, macroeconomic conditions persistently support stability for which economic upturn fortifies stability but sharp depreciation weakens stability.
Peran regulasi Pemerintah Daerah dalam optimalisasi belanja daerah untuk meningkatkan daya saing sektor unggulan Kabupaten Gunungkidul Wiranata, Bagas; Widarjono, Agus
Jurnal Kebijakan Ekonomi dan Keuangan Volume 4 Issue 1, Juni 2025
Publisher : Jurusan Ilmu Ekonomi, Fakultas Bisnis dan Ekonomika, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JKEK.vol4.iss1.art3

Abstract

Purpose – This study aims to analyze the competitiveness enhancement of key sectors in Gunungkidul Regency during the 2014–2023 period and to formulate strategic recommendations for future policy improvement.Methods – The research employs a shift-share analysis and Pearson correlation test to examine the relationship between development expenditure, private investment, and regional economic growth.Findings – The findings indicate that development expenditure has a positive correlation with economic growth. However, its effectiveness largely depends on appropriate allocation policies and the quality of budget implementation.Implication – Local governments need to strengthen strategies for optimizing development expenditure, focusing on infrastructure development, workforce training, and technological innovation to enhance the competitiveness of key sectors.Originality – This study contributes to the enhancement of sectoral competitiveness in Gunungkidul Regency by applying a combination of shift-share analysis and Pearson correlation methods. AbstrakTujuan – Penelitian ini bertujuan untuk menganalisis peningkatan daya saing sektor unggulan di Kabupaten Gunungkidul selama periode 2014–2023, serta merumuskan rekomendasi strategis untuk perbaikan kebijakan di masa mendatang. Metode – Penelitian ini menggunakan metode analisis shift-share dan uji korelasi Pearson untuk mengkaji hubungan antara belanja pembangunan, investasi swasta, dan pertumbuhan ekonomi daerah. Temuan – Hasil penelitian menunjukkan bahwa belanja pembangunan memiliki korelasi positif terhadap pertumbuhan ekonomi. Namun, efektivitasnya sangat bergantung pada kebijakan alokasi serta implementasi anggaran yang tepat dan terarah. Implikasi – Pemerintah daerah perlu memperkuat strategi optimalisasi belanja pembangunan dengan menitikberatkan pada peningkatan infrastruktur, pelatihan tenaga kerja, serta pengembangan inovasi teknologi guna mendorong peningkatan daya saing sektor unggulan. Orisinalitas – Penelitian ini memberikan kontribusi dalam upaya peningkatan daya saing sektor unggulan di Kabupaten Gunungkidul melalui penerapan metode shift-share dan uji korelasi Pearson secara simultan.
Cash Flow Risk and Financial Balance: Evidence from Islamic Rural Banks in Indonesia Hendri, Zul; Shuib, Sollehudin; Widarjono, Agus; Sintarini, Fitriasari
Economica: Jurnal Ekonomi Islam Vol. 16 No. 1 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2025.16.1.25835

Abstract

This study delves into the impact of funding liquidity risk (FLR) counting, including several bank-specific variables and the Coronavirus outbreak, on the balance of Islamic rural banks (IRBs) in Indonesia. Utilizing unbalanced quarterly panel data from 97 IRBs in Java from 2015 (Q1) to 2023 (Q4), the analysis is conducted using panel data regression. The results confirm that FLR significantly decreases bank stability. However, this negative influence was notably weakened during the COVID-19 Crisis. The analysis further reveals that the negative outcome of FLR on stability is more pronounced in smaller IRBs compared to their larger counterparts. Additionally, the findings show that while bank capital and operational efficiency enhance balance, factors such as larger bank size, high financing levels, and the pandemic period itself tend to reduce it. This research offers two key implications. Theoretically, it highlights how FLR can erode stability, a risk amplified when banks undertake high-risk investments. Practically, it underscores the critical need for especially the smaller IRBs to proactively manage asset-liability maturity mismatches to ensure financial stability.
Co-Authors Akhsyim Afandi, Akhsyim Dityawarman El Aiyubbi Dyah Widhowaty Eko Purnomo Putri Firna Hayyu Nindya Maritsa Hendri, Zul M.Bekti Hendri Anto MB Hendrie Anto Mifrahi, Mustika Muhammad Akhyar Adnan Muhammad Muhammad Munrokhim Misanam, Munrokhim Nabilah Amir Nur Indah Hardianti Qonitat Az-Zahra Rudatin, Ari Sahabuddin Sidiq Sahabudin Sidiq Sidiq Sarastri Mumpuni Rucbha Septiana Indarwati Shuib, Sollehudin Sintarini, Fitriasari Sintia Dewi Nur Ajizah Wiranata, Bagas Zhafira Mardhiyah