Ganjar Primambudi
International Islamic University Malaysia, Malaysia

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Bond and Sukuk Interconnectedness Analysis: A Comparative Study between GCC and MENA Countries Amidst Global Crises Ganjar Primambudi; Muhammad Rizky Siddiq; Muhammad Revi Rafsanzani
Journal of Islamic Economic and Business Research Vol. 3 No. 2: December 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v3i2.207

Abstract

This paper aims to analyze the interconnectedness between Bond and Sukuk markets in the Gulf Cooperation Council (GCC) and Middle East and North Africa (MENA) countries. This study utilized the TVP-VAR extended joint connectedness method. The observed period was from January 2020 to October 2023, encompassing significant global events such as the COVID-19 pandemic, the Russia-Ukraine war, and the Israeli-Palestinian war. The results show the interconnectedness of bond and sukuk markets in both regions by 73% (based on TCI). The Bond and Sukuk instruments in MENA act as transmitters, while Bond and Sukuk in GCC act as receivers. The study suggests that the Sukuk in GCC and MENA may serve as an attractive option for diversified assets compared to Bonds. Additionally, the paper highlights structural changes and market dynamics during the crisis period that affected financial stability in both regions.  The anticipated contribution of this study is to enriching the global economic in term of financial literature and offering policy insight to manage risks and improve financial system resilience in GCC and MENA countries.
Islamic Finance Transformation: A Bibliometric Analysis Ganjar Primambudi; Muhammad Ariful Maarif
Journal of Islamic Economic and Business Research Vol. 4 No. 1: June 2024
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jiebr.v4i1.209

Abstract

This research paper aims to comprehensively examine the evolution, themes, and trends within Islamic finance transformation. This study used bibliometric analysis in biblioshiny R-Studio to collect and analyze relevant scholarly sources. We perform citation network analysis, co-authorship analysis, and keyword co-occurrence analysis to identify the intellectual structure in Islamic finance transformation. We found that Malaysia is the most outstanding country in this topic, the Journal of Islamic Accounting and Business Research is the most outstanding journal, and International Islamic University Malaysia is the most outstanding affiliation. Our study also reveals a notable increase in publications on Islamic finance transformation over the past decade, indicating growing interest. Key themes identified include fintech, regulatory frameworks, ethics, and Islamic-conventional finance integration. We highlight influential scholars and journals shaping the field, showcasing its multidisciplinary nature. This research offers a comprehensive overview of Islamic finance transformation literature, synthesizing themes and highlighting ongoing research areas. The bibliometric analysis provides quantitative insights into influential works and scholars, serving as a valuable resource for researchers, policymakers, and practitioners navigating the evolving landscape of Islamic finance.