Article Per Year (5 Year)
p-Index From 2021 - 2026
0.408
P-Index
This Author published in this journals
All Journal Jurnal Penelitian Pendidikan Indonesia SCHOULID: Indonesian Journal of School Counseling
Suhardiono Suhardiono
IPB University
Humanities Education Environmental Science Social Sciences Other

Published : 2 Documents Claim Missing Document
Claim Missing Document
Check
Articles

Found 2 Documents
Search

 1 
Relationship between bank indonesia rate, guaranteed rate, and banking lending rates Astrika Erlin Nurcahningsih; Suhardiono Suhardiono; Hermanto Siregar; Muhammad Sahirul Alim
JPPI (Jurnal Penelitian Pendidikan Indonesia) Vol. 11 No. 3 (2025): JPPI (Jurnal Penelitian Pendidikan Indonesia)
Publisher : Indonesian Institute for Counseling, Education and Theraphy (IICET)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29210/020256277

Abstract

Maintaining the stability of the Rupiah is a core objective of Bank Indonesia’s monetary policy, in which the BI reference rate serves as a primary instrument. In parallel, the Deposit Insurance Corporation (LPS) sets the deposit guarantee rate, which influences banks’ funding strategies and deposit-taking behavior. The interaction between these two policy rates is crucial, as it directly shapes the interest rates offered by banks to the public, yet empirical studies on their combined impact in Indonesia remain limited. This study specifically investigates how changes in the BI reference rate and the LPS guarantee rate affect commercial banks’ lending and deposit rates. Using monthly secondary data from Bank Indonesia and LPS spanning January 2015 to December 2023, we apply descriptive statistical analysis and Granger causality testing to capture both correlation and directional influence. The results reveal that both the BI reference rate and the LPS guarantee rate have a statistically significant positive effect on banking interest rates, with the BI reference rate exerting a stronger and more immediate influence, while the LPS guarantee rate demonstrates a lagged effect. These findings provide practical insights for policymakers in synchronizing monetary and deposit insurance policies to enhance financial stability, and contribute to the academic literature by clarifying the dual role of policy rates in shaping banking sector pricing behavior.
Green sukuk as a macroeconomic narrative: a comparative study of indonesia and the middle east (2021–2025) Muhammad Sahirul Alim; Hertha Bastiawan; Astrika Erlin; Suhardiono Suhardiono; Aaminudin Saade
SCHOULID: Indonesian Journal of School Counseling Vol. 10 No. 2 (2025): SCHOULID: Indonesian Journal of School Counseling
Publisher : Indonesian Counselor Association (IKI)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23916/086205011

Abstract

Abstract: Green sukuk have become a flagship innovation in Islamic finance, combining Shariah compliance with sustainable development objectives. This paper explores how Indonesia and the Middle East (Saudi Arabia, UAE) frame green sukuk not merely as financing instruments but as macroeconomic narratives that support fiscal credibility, diversification strategies, and global positioning. Using a qualitative comparative case study and drawing on Institutional Theory, Political Economy, and Policy Communication, the analysis synthesizes evidence from Scopus- and SINTA-indexed scholarship (2021–2025), government frameworks, and multilateral reports. Findings reveal two contrasting models: Indonesia presents sukuk as instruments of “growth with responsibility,” embedded in fiscal frameworks and supported by multi-institutional collaboration. The Middle East emphasizes “diversification and prestige,” linking sukuk to megaprojects under Vision 2030 and ambitions to become global green finance hubs. While Indonesia builds legitimacy through transparency and routine reporting, the Gulf relies on centralized authority and symbolic announcements. The study contributes to theory by extending Institutional Theory to show how legitimacy can arise from either bureaucratic layering or centralized state authority, while Political Economy Theory highlights the role of national strategies. Policy implications suggest that hybrid models—combining Indonesia’s accountability with Gulf visibility—could establish global benchmarks for sustainable Islamic finance.
Co-Authors Aaminudin Saade Astrika Erlin Astrika Erlin Nurcahningsih Hermanto Siregar Hertha Bastiawan Muhammad Sahirul Alim Muhammad Sahirul Alim