Masruroh, Aniswatun
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MENAVIGASI TANTANGAN FISKAL: EFEKTIVITAS SUKUK SEBAGAI INSTRUMEN ALTERNATIF PEMBIAYAAN DEFISIT DI INDONESIA Masruroh, Aniswatun; Fitrianto, Achmad Room
I-Economics Vol 9 No 2 (2023): I-ECONOMICS: A Research Journal on Islamic Economics
Publisher : Islamic Economics Program, Faculty of Islamic Economics and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19109/ieconomics.v9i2.20351

Abstract

In the past half-decade, Indonesia encountered its highest budget deficit in 2022, amounting to IDR 464.3 trillion or 2.38% of the nation's GDP, as reported by the Ministry of Finance. To counteract this, the government formulates the State Revenue and Expenditure Budget (APBN) annually, serving as a pivotal tool for national welfare and economic governance. Governed by fiscal policy, APBN orchestrates government revenue and spending to propel economic enhancement. This paper scrutinizes the efficacy of sukuk as a deficit financing alternative, considering policies, implementation strategies, targeting precision, and procedural efficiency. The study, covering the period from 2018 to 2023, accentuates sukuk's resilience amidst economic uncertainties. Key determinants of sukuk effectiveness include well-aligned policies with national objectives, collaborative execution involving diverse stakeholders, congruence with targeted goals, and streamlined processes adhering to legislative frameworks. The research further delves into the varied spectrum of sukuk instruments traded in the market, distinguishing between tradable and non-tradeable categories. Tradable sukuk exhibit liquidity advantages, while non-tradable sukuk offer price stability. Indonesia's substantial growth in sukuk from 2020 to January 2023 underscores its potential in a predominantly Muslim-populated country. This research method is qualitative with a literature study approach obtained from secondary data. The results of this research are that sukuk is very effective as an alternative financing method. This is proven by an increase in total assets in 2022 amounting to IDR 131.46 trillion from 68 issuers and there were 512 recorded emissions using a circulating nominal value of IDR 459.15 trillion and US$ 47.5 million
Analisis Kinerja Perusahaan Berdasarkan Good Corporate Governance pada Bank Umum Syariah di Indonesia Masruroh, Aniswatun; Yazid, Muhammad; Feriansyah, Ardian
Jurnal Maps (Manajemen Perbankan Syariah) Vol. 8 No. 1 (2024)
Publisher : Masoem University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32627/maps.v8i1.988

Abstract

The impact of the development of Islamic banks is the emergence of challenges in efforts to improve the company's image in the eyes of customers and investors. Efforts to improve the image of companies, especially Sharia banks, can be made by maximizing good corporate governance. This research aims to analyze company performance based on good corporate governance in Islamic commercial banks for the 2018-2022 period. The research method used is descriptive qualitative with secondary data obtained from the annual financial reports of each Islamic bank. Data analysis uses Eviews 12 output. The results of this research show that 8 of the 14 Sharia Commercial Banks in Indonesia have met the GCG assessment criteria in accordance with applicable laws and regulations. However, there is one assessment, namely that the results of the analysis of the Sharia Supervisory Board meetings are not in accordance with PBI regulation No.11/3/PBI/2009 which states that the Sharia Supervisory Board (DPS) has an obligation to hold 12 meetings. The company that does not meet these criteria is Bank Victoria Syariah in 2022.
Analis Kinerja PT. Bank Syariah Indonesia Dengan Metode Sharia Conformity And Profitability (SCNP) Dan Maqashid Sharia Index (MSI) Rahayu, Hastanti Agustin; Masruroh, Aniswatun; Syarifudin, Syarifudin
Jurnal Ilmiah Ekonomi Islam Vol. 8 No. 3 (2022): JIEI : Vol.8, No.3, 2022
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v8i3.6651

Abstract

Measurement of Islamic banking performance still using conventional methods and market penetration in Islamic banking still lag far behind conventional bank so that the Indonesian government merged the red plate Islamic bank namely BRIS, BNIS, BSM which changed their names to BSI. This study used descriptive quantitative method. The data used in this research is secondary data. Secondary data is obtained from the annual report BRIS, BNIS, BSM period 2016-2020 and BSI period 2021. Based on the data that has been obtained and the results of the analysis show that the difference in BSI performance in the 2016-2020 periode before the merger when viewed from the courtesies diagram of SCnP BRIS, BNIS, and BSM is in the same LRQ quadrant (Lower Right Quadrant) with MSI ranking results BSM ranked 1st, BRIS 2nd, and BNIS 3rd. In the 2021 period after the merger when viewed from the courtesies diagram of SCnP BSI be in the LRQ quadrant with a 4th MSI ranked. This suggests that the comparison results would be better if they had the same period i.e. before and after the merger of five years each.