Claim Missing Document
Check
Articles

Found 2 Documents
Search

THE GLOBAL FINANCIAL CRISIS, COVID-19 AND THE RUSSIA-UKRAINE WAR: THE SAFE HAVEN POTENTIAL OF ISLAMIC ECONOMICS Sahabuddin , Mohammad; Ahmad, Abu Umar Faruq
Journal of Central Banking Law and Institutions Vol. 2 No. 3 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jcli.v2i3.187

Abstract

Islamic economics is an innovative phenomenon in the modern world. In many developed and developing countries, Islamic financial systems successfully work in parallel with their conventional peers. It is unfortunate that at the time when the world is suffering from a pandemic like COVID-19, the world community has witnessed a war between Russia and Ukraine that has disrupted the global economy. This study evaluates the safe-haven potential of Islamic economics to hedge against a global financial crisis, COVID-19 pandemic, and the Russia-Ukraine conflict and examines how Islamic economics has responded to this major disruption in the digital era. The published literature is reviewed to investigate the impact of major disruptive events like the global financial crisis 2008-2009, COVID-19 and the recent Russia-Ukraine conflict on the global economy. The findings also show that the global financial crisis, Covid-19, and the Russia-Ukraine war are the major events that have disrupted the paradigms of the changing process. Along with this changing process, the advancement of information technology plays a vital role in accelerating financial innovation in the digital era. Moreover, despite the major episodes, it has grown rapidly compared to the traditional counterpart. As the fastest growing part of the global economic system, Islamic economics has shown appeal to diverse investors and issuers.
Beyond the Crisis: Tracking SME Non-Performing Loan in Indonesia Before and After the COVID-19 Stimulus Cahyono, Eko Fajar; Bayuny, Ahmad Fadlur Rahman; Rusmita , Sylva Alif; Sahabuddin , Mohammad
Review on Islamic Accounting Vol. 4 No. 1 (2024): Review on Islamic Accounting
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/ria.v4i1.395

Abstract

This study evaluates the impact of two Indonesian government economic stimulus packages on the performance of Non-Performing Loans (NPLs) in the Small and Medium Enterprises (SME) financing sector. It compares the NPLs in conventional and rural banks with Non-Performing Financing (NPF) in Islamic commercial and rural banks, before and after the stimulus, during the COVID-19 crisis period. The two policies are in the form of interest/margin subsidies and credit/financing restructuring for debtors in the SMEs sector. The approach used is a quantitative approach with three analytical methods consisting of ANOVA, MANOVA and DiD (Difference in Difference). The secondary data in this study were sourced from official publications of government institutions such as the Financial Services Authority and the Ministry of Finance. The results showed that there were significant differences in the performance of NPL/F of Conventional banks, Islamic Commercial Banks, Conventional Rural banks, and Islamic Rural banks before and after the government's economic stimulus policy was determined.