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All Journal Trikonomika: Jurnal Ekonomi JURISDICTIE Jurnal Hukum dan Syariah Islamiconomic: Jurnal Ekonomi Islam Jurnal Penelitian Pendidikan Indonesia
Ahmad Azam Sulaiman, Ahmad Azam
University of Malaya, 50603 Kuala Lumpur, Malaysia
Religion Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences Other

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Determinants of Displaced Commercial Risk in Islamic Banking Institutions: Malaysia Evidence Arshad, Noraziah Che; Zakaria, Roza Hazli; Sulaiman, Ahmad Azam; Irijanto, Tubagus Thresna
Jurnal Trikonomika Vol 13, No 2 (2014): Desember 2014
Publisher : Jurnal Trikonomika

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

Abstract

Islamic banks are exposed to a unique risk such as Displaced Commercial Risk (DCR). DCR arises from the assets managed on behalf of the investment account holders which may be borne by the Islamic bank’s own capital, when the Islamic banks forgo part or all of its share of profits on the investment account holders funds, in order to increase the return to the investment account holders. In a dual banking system, DCR could be a threat to the Islamic banks given the competition of fixed and higher return from the conventional banks. However, DCR would not be a threat to Islamic banks if their account holders choose Islamic banks due to religious obligatory factor. Pertaining to this issue, this paper aims to identify the determinants of factors influencing the DCR among the Islamic banks in the case of Malaysia. Results of the study suggest that the DCR is significantly determined by the Investment account holder funds, Islamic deposit, rate of return, and interest rate.
COMPARATIVE STUDY ON THE REGULATION OF SHARIA FINANCIAL TECHNOLOGY IN INDONESIA AND MALAYSIA Susilawati, Cucu; Sulaiman, Ahmad Azam; Abduh, Muhamad; Prasetyo, Yoyok; Athoillah, Mohamad Anton
Jurisdictie: Jurnal Hukum dan Syariah Vol 12, No 1 (2021): Jurisdictie
Publisher : Fakultas Syariah

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/j.v12i1.12213

Abstract

Financial technology is a part of digital ecosystem which development is rapid and massive, so does the sharia fintech. However, conventional and sharia fintech are two different systems and should have each regulation. The problem is if sharia fintech regulations in Indonesia is appropriate. Then what about Malaysia which are considered successful in developing the sharia fintech. This study compares sharia fintech regulations in Indonesia and Malaysia. The aim is to find out the readiness of Indonesia and Malaysia in supporting the sharia fintech trend realized in the regulations. This is a qualitative research using books and academic articles as an addition to the literature and regulations as the analytical method. The results indicate that Indonesia and Malaysia try to accommodate sharia fintech regulations. Indonesia still uses The Financial Services Authority Regulation (POJK) and Bank Indonesia regulations, both of which do not meet the sharia principles. Meanwhile, Malaysia uses the 2013 Islamic Financial Services Act (IFSA), a law to regulate sharia compliance of the Islamic financial services sector, including the Sharia Fintech. In addition, Malaysia also has a Sharia Advisory Council as a supervisor for the Islamic financial services implementations. Malaysia’s and Indonesia’s regulations have yet answered the sharia fintech developments. Financial technology merupakan bagian dari ekosistem digital yang perkembangannya sangat pesat dan masif, tak terkecuali fintech syariah. Namun, fintech konvensional dan syariah adalah dua sistem yang berbeda dan seharusnya memiliki peraturan yang berbeda pula. Permasalahannya apakah regulasi fintech syariah di Indonesia sudah tepat apa belum, lalu bagaimana dengan regulasi di Malaysia yang dianggap berhasil mengembangkan fintech syariah. Tujuannya adalah untuk mengetahui sejauhmana kesiapan Indonesia dan Malaysia dalam mendukung trend fintech syariah dalam regulasi. Penelitian kualitatif ini menggunakan buku dan artikel akademis sebagai tambahan literatur dan peraturan sebagai metode analisis. Hasil penelitian menunjukkan bahwa Indonesia dan Malaysia sama-sama berusaha mengakomodasi regulasi. Indonesia masih menggunakan Peraturan Otoritas Jasa Keuangan dan Peraturan Bank Indonesia, dan belum memenuhi prinsip syariah. Malaysia menggunakan Islamic Financial Services Act (IFSA) 2013, sebuah Undang-Undang yang mengatur kepatuhan syariah dari sektor jasa keuangan Islam. Malaysia juga memiliki Dewan Pertimbangan Syariah sebagai pengawas pelaksanaan jasa keuangan Islam. Regulasi yang dimiliki oleh Malaysia dan Indonesia belum menjawab perkembangan fintech syariah.
Prospects and Challenges of Green Sukuk for Sustainable Development Projects in Malaysia Sulaiman, Ahmad Azam; Mohamad, Mohammad Taqiuddin; Mustapa, Siti Salwani
ISLAMICONOMIC: Jurnal Ekonomi Islam Vol 14, No 2 (2023)
Publisher : Universitas Islam Negeri Sultan Maulana Hasanuddin Banten

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32678/ijei.v14i2.593

Abstract

The issuance of green Sukuk in mid-2017 has become an increasingly attractive mechanism for investors and issuers to increase the capital of projects, assets or other activities that benefit the economy, environment and whole of society. The main objective of this study is to examine the current status of green Sukuk since it was published from July 2017 to March 2018 as well as review the prospects and challenges of green Sukuk in Malaysia. This study critically examines the various literature, aimed at emphasizing possible opportunities for future success and challenges to investors in investing in green Sukuk. The results of this study show that the possibilities and opportunities of green Sukuk in the future through various prospects can have a positive impact to encourage the growth of green Sukuk. In the fast-growing capital market in Malaysia, challenges are inevitable and may arise when organizations assess whether issuing green Sukuk is the right course of action. The findings of this study provide useful information to individual investors, investment companies and implemental companies to identify prospects and challenges in implementing green Sukuk so that the preparation and improvement in complying with sharia law can be done, achieve the purpose of environmentally friendly investment as well as generate good profits. 
Service quality and visitor experience as antecedents of revisit intention: the mediating role of place attachment Suarna, Indri Ferdiani; Gaffar, Vanessa; Wibowo, Lili Adi; Dirgantara, Puspo Dewi; Sulaiman, Ahmad Azam
JPPI (Jurnal Penelitian Pendidikan Indonesia) Vol. 11 No. 2 (2025): JPPI (Jurnal Penelitian Pendidikan Indonesia)
Publisher : Indonesian Institute for Counseling, Education and Theraphy (IICET)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29210/020255543

Abstract

This study aims to examine the causal relationships among service quality, visitor experience, place attachment, and revisit intention in the context of toll road rest areas in Indonesia. It addresses a growing concern regarding the underutilization and inconsistent visitor loyalty in rest area facilities, particularly in light of Indonesia's expanding toll infrastructure. Grounded in the Theory of Planned Behavior and supported by concepts of emotional place attachment, this research investigates how functional and affective drivers influence users’ behavioral intentions. A quantitative survey was conducted using a purposive sampling method, targeting 210 respondents who had visited Rest Area KM 166A or KM 164B on the Cikopo–Palimanan Toll Road. Data were analyzed using Structural Equation Modeling (SEM) with AMOS 26. Constructs were measured with a five-point Likert scale, and validity was assessed through Confirmatory Factor Analysis (CFA), with all constructs exceeding acceptable CR (>0.98) and AVE (>0.93)thresholds. The results show that service quality significantly predicts both place attachment (β = 0.526, p < 0.001) and revisit intention (β = 0.491, p < 0.001), while visitor experience only influences revisit intention indirectly through place attachment. Mediation analysis confirmed the significant role of place attachment (Sobel test: t = 3.64, p < 0.001). Practically, these findings suggest that improving service delivery and fostering emotional connection through contextual and cultural design can enhance visitor loyalty. Theoretically, the study contributes by clarifying contradictory results in previous tourism literature regarding the direct effect of experience on behavioral intention. However, the study is limited to two rest areas and uses cross-sectional data, limiting the generalizability of the findings. Future research should include comparative or longitudinal designs.
Co-Authors Athoillah, Mohamad Anton Dirgantara, Puspo Dewi Lili Adi Wibowo Mohamad, Mohammad Taqiuddin Muhamad Abduh Mustapa, Siti Salwani Noraziah Che Arshad, Noraziah Che Prasetyo, Yoyok Roza Hazli Zakaria, Roza Hazli Suarna, Indri Ferdiani Susilawati, Cucu Tubagus Thresna Irijanto Vanessa Gaffar