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All Journal IJIBE (International Journal of Islamic Business Ethics) Al-Muzara'ah Jurnal Ekonomi & Keuangan Islam Journal of Islamic Monetary Economics and Finance ASIAN JOURNAL OF ISLAMIC MANAGEMENT (AJIM) JURNAL EKONOMI BISNIS DAN MANAJEMEN (EKO-BISMA) Muslim Business and Economic Review International Journal of Waqf Review on Islamic Accounting Islamic Social Finance Journal of Central Banking Law and Institutions Islamic Economics Methodology Management and Sustainability Business and Sustainability
Riani, Ririn
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Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Library & Information Science Social Sciences Other

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The impact of Covid-19 on the banking industry efficiency: Comparison between Indonesia and Malaysian banks Riani, Ririn; Ikhwan, Ihsanul
Asian Journal of Islamic Management (AJIM) VOLUME 4 ISSUE 1, 2022
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/AJIM.vol4.iss1.art4

Abstract

Purpose − This study aims to measure and compare the efficiency of Islamic and conventional banks in Indonesia and Malaysia, from 2015 to 2020.Methodology − Data Envelopment Analysis (DEA) was employed as a research method for measuring efficiency. The DEA results are also used to identify input or output variables that must be improved if the Decision-Making Unit (DMU) needs to improve efficiency in form of potential improvement.Findings − This study shows that Covid-19 had an impact on decreasing the efficiency level of Indonesian and Malaysian Banks. This study also shows that Indonesian Banks are relatively efficient compared to Malaysian Banks. Nevertheless, Islamic bank is more affected by Covid-19 compared to conventional. In addition, the most important variable performance to be improved by banks during the Covid-19 pandemic is total financing.Implication − It can be used as a guideline for both nations to improve their shortcomings in each type of bank and to strengthen the banking system during economic downturns in order to speed up the recovery process.Originality − This is the initial study to examine the banking efficiency of Indonesia and Malaysia during the covid pandemic-induced economic crisis. As a result, it is expected to capture the impact of the covid-19 epidemic on banking efficiency.
Efficiency Comparison between Conventional and Islamic Rural Banks in Sumatra during the COVID-19 Pandemic Akbar, Nashr; Ikhwan, Ihsanul; Riani, Ririn
Muslim Business and Economics Review Vol. 2 No. 2 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i2.185

Abstract

This study aims to examine and compare the efficiency of conventional rural banks and Islamic rural banks in their roles as intermediary institutions during the COVID-19 pandemic in Sumatra, Indonesia. Furthermore, the efficiency determinants were further analysed to find some variables that affect rural banks’ efficiency. Non-Parametric approach, Data Envelopment Analysis (DEA), and Tobit Regression are employed in this study. The results show that Islamic rural banks have better efficiency performance compared to conventional rural banks, but that there is a fluctuating efficiency trend experienced by both types of rural banks during the observation period. In addition, the potential improvement result indicates that financing and operating revenue variables are the main causes of rural bank inefficiency. Furthermore, the Tobit Regression result finds that capital and bank size significantly improve the efficiency level, but that risk significantly reduces bank efficiency.
Bank Stability and Market Concentration: A Strategic Balance or an Inherent Risk in Indonesia? Riani, Ririn; Ikhwan, Ihsanul
Islamic Economics Methodology Vol. 4 No. 1 (2025): Islamic Economics Methodology
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/iem.v4i1.663

Abstract

This study aims to examine the impact of market concentration, internal bank characteristics, and selected macroeconomic variables on the stability of Indonesia's banking sector from 2015 to 2022, with a focus on the concentration-fragility and concentration-stability hypotheses. The research employs a sample of 47 commercial banks, including both conventional and Islamic banks, and uses the System Generalized Method of Moments (Sys-GMM) for empirical analysis. The results support the concentration-fragility hypothesis, indicating that increased market concentration negatively affects financial stability. Additionally, the study finds that lagged bank stability, profitability (ROA), capital adequacy (ETA), and operational efficiency (CIR) significantly contribute to current stability, while high Non-Performing Loans (NPLs) positively impact stability when risk management practices are effective. The findings are based on data from 2015 to 2022 and may not fully capture the long-term effects of market concentration on bank stability. Future studies should explore other emerging factors affecting banking stability. The study provides valuable insights for policymakers by emphasising the importance of regulatory frameworks that foster competition and strengthen internal controls to mitigate systemic risks.
Book Review: Islamicity Indices, The Seed for Change Riani, Ririn
Islamic Economics Methodology Vol. 4 No. 2 (2025): Islamic Economics Methodology
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/iem.v4i2.667

Abstract

The book Islamicity Indices: The Seed for Change by Hossein Askari and Hossein Mohammadkhan (2016) introduces a quantitative framework to measure the extent to which countries apply Islamic values in their social, economic, and political practices. Through five main indices—economic, legal and governance, human and political rights, international relations, and an overall index—the authors reveal that many non-Muslim countries are precisely more "Islamic" in their implementation of the values of justice, transparency, and social welfare than countries with majority-Muslim populations. This study affirms the need for structural and ethical reforms so that the Muslim world can return to the principles of justice and universal welfare as taught by the Qur’an and exemplified by Prophet Muhammad PBUH.
Exploring Customer Loyalty Drivers in Indonesian Islamic Bank After Cybersecurity Breaches Using SEM Approach Sari, Mia; Indra, Indra; Riani, Ririn
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 4 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i4.2233

Abstract

This study explores the factors influencing customer loyalty at Bank Syariah Indonesia (BSI) after cyberattacks, using the Expectation Confirmation Theory (ECT) as the theoretical framework. A quantitative approach with Partial Least Squares-Structural Equation Modeling (PLS-SEM) is applied, analyzing data from 225 customers affected by service disruptions, ATM use, and Mobile Banking. The findings indicate that customer loyalty is significantly affected by service quality, religiosity, and customer trust. Furthermore, customer trust after a cyberattack is significantly influenced by service quality and religiosity. The Compliance, Assurance, Reliability, Tangibles, Empathy, and Responsiveness (CARTER) model is used to measure service quality, emphasizing both technical and ethical aspects. The results highlight the importance of successful crisis management, clear communication, improved security, and compensating customers in retaining and potentially growing the customer base post-attack. This research underscores the significance of the CARTER model in evaluating service quality and the role of religiosity in fostering customer loyalty. The study emphasizes that Islamic banks should integrate technical and ethical aspects of service to minimize negative impacts and maintain customer loyalty.
Determinant of Islamic Bank Stability and Risk-Taking Behavior in ASEAN Riani, Ririn; Indra
Review on Islamic Accounting Vol. 5 No. 2 (2025): Review on Islamic Accounting
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/ria.v5i2.718

Abstract

This study examines the determinants of stability and risk-taking in ASEAN Islamic banks by focusing on both internal bank-specific factors and external conditions. Using a panel of 33 Islamic banks from five ASEAN countries over the period 2015–2022, this study employs a two-step system Generalized Method of Moments (GMM) estimator to address endogeneity and dynamic effects. Bank stability is measured using the Z-score, while risk-taking behavior is proxied by loan loss provisions. Internal factors include profitability, credit risk, efficiency, capitalization, liquidity, and bank size, while external factors comprise market concentration and macroeconomic indicators. The empirical results reveal three key findings. First, bank stability is primarily driven by bank-specific characteristics, with credit risk, efficiency, capitalization, bank size, and market concentration exerting significant effects, while macroeconomic variables remain insignificant. Second, risk-taking behavior exhibits strong persistence and is significantly influenced by both internal factors and macroeconomic conditions, particularly economic growth and inflation. Third, higher market concentration is associated with lower bank stability and greater risk-taking, supporting the competition–fragility hypothesis in the context of ASEAN Islamic banking. These findings provide important policy implications for regulators, Islamic banks, and deposit insurance authorities in the ASEAN region, emphasizing the need for strengthened microprudential supervision, risk-based regulatory frameworks, and enhanced internal governance to ensure sustainable financial stability within dual banking systems.
Co-Authors Aam Slamet Rusydiana, Aam Slamet As-Salafiyah, Aisyah Dito Rinaldo, Dito Fatoni, Ahlis Ikhwan, Ihsanul Indra Indra Indra Mia Sari, Mia Nashr Akbar, Nashr Soeparno, Wahyu Sugeng Imam