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All Journal Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics) EQUILIBRIUM IJIBE (International Journal of Islamic Business Ethics) Jurnal Ekonomi Syariah Teori dan Terapan JIET (Jurnal Ilmu Ekonomi Terapan) Jurnal Ekonomi dan Bisnis Islam Riset Akuntansi dan Keuangan Indonesia Ikonomika : Jurnal Ekonomi dan Bisnis Islam EKSPANSI Hasanuddin Economics and Business Review Economica: Jurnal Ekonomi Islam al-Uqud : Journal of Islamic Economics International Journal of Islamic Economics and Finance (IJIEF) Al-Muzara'ah Jurnal Ekonomi & Keuangan Islam JURNAL SYARIKAH : JURNAL EKONOMI ISLAM Indonesian Journal of Islamic Economics and Finance Shirkah: Journal of Economics and Business Khatulistiwa: Journal of Islamic Studies Jurnal Ekonomi dan Pembangunan International Journal of Islamic Business and Economics (IJIBEC) Amwaluna Jurnal Ekonomi dan Keuangan Syariah At-tijaroh: Jurnal Ilmu Manajemen dan Bisnis Islam Journal of Islamic Monetary Economics and Finance El-Barka: Journal of Islamic Economics and Business Indonesian Journal of Halal Research JURNAL EKONOMI SYARIAH Journal of Digital Marketing and Halal Industry Al-Awqaf: Jurnal Wakaf dan Ekonomi Islam Airlangga International Journal of Islamic Economics and Finance Jurnal Ekonomi Indonesia Journal of Islamic Philanthropy and Disaster Ekonomi Islam Indonesia Journal of Islamic Economic Literatures Journal of Islamic Economics Lariba International Journal of Waqf Review on Islamic Accounting Islamic Social Finance Halal Tourism and Pilgrimage Islamic Economics Methodology Fara'id and Wealth Management Islamic Economic and History The Economic Review of Pesantren Islamic Marketing Review Maqasid al-Shariah Review Management and Sustainability Accounting and Sustainability Business and Sustainability Policy Brief Pertanian, Kelautan, dan Biosains Tropika Jurnal Jamsostek Amwaluna: Jurnal Ekonomi dan Keuangan Syariah IQTISHADUNA: Jurnal Ilmiah Ekonomi Kita
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Journal : Journal of Islamic Monetary Economics and Finance

MEASURING THE PERFORMANCE OF ISLAMIC BANKING IN INDONESIA: AN APPLICATION OF MASLAHAH-EFFICIENCY QUADRANT (MEQ) Rusydiana, Aam Slamet; Sanrego, Yulizar Djamaluddin
Journal of Islamic Monetary Economics and Finance Vol 3 (2018): SPECIAL ISSUE
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (552.594 KB) | DOI: 10.21098/jimf.v3i0.909

Abstract

Despite of market condition under perfect or unperfect competition, Islamic banking has to reach their level of efficiency in order to succeed and make a profit; those who do not will fail and be forced to exit the market. However apart of having a sound performance, Islamic banking also has to comply with the sharia principles. This paper aims to have efficiency and maslahah measurement in one assessment framework that is maslahah-efficiency quadrant (MEQ). The study from 2011-2014 revealed that Bank Muamalat Indonesia (BMI) and Sharia Panin Bank are excellent since both are within the first quadrant. Whereas Bank Sharia Mandiri (BSM), Sharia Maybank, and Sharia Bukopin Bank are considered good at the second quadrant; Bank Rakyak Indonesia Sharia (BRI) and BCA Sharia are fair at the third; and Bank Mega Sharia, Victoria Sharia, Bank Negara Indonesia Sharia (BNI), and Bank Jabar Banten Sharia (BJB) are poor at the fourth sequentially. It is urge for Islamic bank that are in low level of MSI to have a critical policy to keep in line with the five factor of maqashid sharia apart of having efficiency in order to reach maslahah.
MEASURING THE EFFICIENCY OF WAQF FUND IN INDONESIA Rusydiana, Aam Slamet; Sukmana, Raditya; Laila, Nisful
Journal of Islamic Monetary Economics and Finance Vol 8 (2022): Special Issue: Islamic Social Finance
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v8i0.1650

Abstract

This research measures the efficiency of waqf funds managed by philanthropic institutions in Indonesia using the Data Envelopment Analysis (DEA) approach over the 2013-2021 period. The unit of analysis consists of nine philanthropic waqf institutions. In the measurement of efficiency, the study takes human resource expenses and operational costs as inputs and collection and distribution of waqf funds as outputs. The findings indicate that the efficiency of philanthropic organizations in handling waqf funds varies from year to year between 2013 and 2021. The paper also notes that the Covid pandemic has no substantial impact on the efficiency of the waqf institutions. Interestingly, regional institution clusters are more efficient than mass organization and national institution clusters. Acknowledgment The authors would like to thank the Faculty of Economics and Business, Airlangga University, Indonesia, for the support that made this study possible
MEASURING THE PERFORMANCE OF ISLAMIC BANKING IN INDONESIA: AN APPLICATION OF MASLAHAH-EFFICIENCY QUADRANT (MEQ) Rusydiana, Aam Slamet; Sanrego, Yulizar Djamaluddin
Journal of Islamic Monetary Economics and Finance Vol. 3 (2018): SPECIAL ISSUE
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v3i0.909

Abstract

Despite of market condition under perfect or unperfect competition, Islamic banking has to reach their level of efficiency in order to succeed and make a profit; those who do not will fail and be forced to exit the market. However apart of having a sound performance, Islamic banking also has to comply with the sharia principles. This paper aims to have efficiency and maslahah measurement in one assessment framework that is maslahah-efficiency quadrant (MEQ). The study from 2011-2014 revealed that Bank Muamalat Indonesia (BMI) and Sharia Panin Bank are excellent since both are within the first quadrant. Whereas Bank Sharia Mandiri (BSM), Sharia Maybank, and Sharia Bukopin Bank are considered good at the second quadrant; Bank Rakyak Indonesia Sharia (BRI) and BCA Sharia are fair at the third; and Bank Mega Sharia, Victoria Sharia, Bank Negara Indonesia Sharia (BNI), and Bank Jabar Banten Sharia (BJB) are poor at the fourth sequentially. It is urge for Islamic bank that are in low level of MSI to have a critical policy to keep in line with the five factor of maqashid sharia apart of having efficiency in order to reach maslahah.
ADVANCEMENT AND SETBACK IN ISLAMIC BANKING PRODUCTIVITY IN ASEAN: DO TECHNOLOGICAL CHANGES MATTER? Rusydiana, Aam Slamet; Assalafiyah, Aisyah
Journal of Islamic Monetary Economics and Finance Vol. 7 No. 3 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i3.1322

Abstract

This study applies Data Envelopment Analysis (DEA) to measure the efficiency level of 24 Islamic banks in four ASEAN countries (Indonesia, Malaysia, Brunei Darussalam and Thailand) over the 2010-2019 period. Specifically, this study uses the Banker, Charnes and Cooper (BCC) model as a basic approach in DEA with variable return to scale assumption. The Malmquist index was also employed to explain whether the changes in Islamic banks’ efficiency and productivity is affected by the efficiency changes or technological changes. According to the Malmquist index scores on total factor productivity (TFP) change, 17 of the 24 Islamic banks (or 70.8 percent) achieved an improvement in productivity over the research period, with Thailand recording the highest productivity level increase. Overall, the most productive Islamic bank was Affin Islamic Bank Berhad. Finally, it was observed that there was a productivity growth in the last two years of the period, namely 2017-2018 and 2018-2019. The productivity change was driven more by efficiency than by technology, implying that Islamic banks in ASEAN countries must improve the technological aspect.
THE REGIME SWITCHING OF CYCLE INSTABILITY OF ISLAMIC BANKING AND THE ECONOMY: EVIDENCE FROM INDONESIA, MALAYSIA, AND PAKISTAN Nurfalah, Irfan; Rusydiana, Aam Slamet
Journal of Islamic Monetary Economics and Finance Vol. 7 No. 2 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i2.1362

Abstract

This study aims to examine the cyclical instability of Islamic banking in Indonesia, Malaysia, and Pakistan. A stable Islamic banking system can give the public confidence to conduct transactions and thus grow the economy. The proxy variable for stability used is the z-score, with 156 periods of research data from January 2007 to December 2019. The Markov Switching Vector Autoregression (MS-VAR) method was employed. The results show that Islamic banking stability in Indonesia based on the z-score is more stable than others. Nevertheless, in terms of the regression of all the variables, regime shifting, and the duration of the crisis, overall Malaysian Islamic banking displays the best performance. The instability of the Indonesian model is mostly affected by inflation, whereas Malaysia and Pakistan are affected by the financing to deposit ratio and the fluctuation in global oil, respectively.
MEASURING THE EFFICIENCY OF WAQF FUND IN INDONESIA Rusydiana, Aam Slamet; Sukmana, Raditya; Laila, Nisful
Journal of Islamic Monetary Economics and Finance Vol. 8 (2022): Special Issue: Islamic Social Finance
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v8i0.1650

Abstract

This research measures the efficiency of waqf funds managed by philanthropic institutions in Indonesia using the Data Envelopment Analysis (DEA) approach over the 2013-2021 period. The unit of analysis consists of nine philanthropic waqf institutions. In the measurement of efficiency, the study takes human resource expenses and operational costs as inputs and collection and distribution of waqf funds as outputs. The findings indicate that the efficiency of philanthropic organizations in handling waqf funds varies from year to year between 2013 and 2021. The paper also notes that the Covid pandemic has no substantial impact on the efficiency of the waqf institutions. Interestingly, regional institution clusters are more efficient than mass organization and national institution clusters. Acknowledgment The authors would like to thank the Faculty of Economics and Business, Airlangga University, Indonesia, for the support that made this study possible