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All Journal Shirkah: Journal of Economics and Business
Ulfi Kartika Oktaviana
Faculty of Economics, Universitas Islam Negeri Maulana Malik Ibrahim Malang
Economics, Econometrics & Finance

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Factors Affecting Financial Stability of Sharia Banks in Indonesia Ulfi Kartika Oktaviana; Titis Miranti
Shirkah: Journal of Economics and Business Vol. 9 No. 2 (2024)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v9i2.563

Abstract

To ensure the financial stability of Indonesian banks, especially Sharia banks, it is essential to focus on various factors and elements. This study investigates the endogenous and exogenous factors influencing the financial stability of Sharia banks in Indonesia. The study utilized data from the annual financial statements of Sharia banks in Indonesia spanning from 2010 to 2021. Panel data regression served as the analytical tool for the research. The findings indicate that the stability of Sharia commercial banks in Indonesia is influenced by both capital structure and credit risk. Financial leverage also affects sharia bank’s financial stability. While ownership distinguishes a bank in terms of organizational structure, it does not necessarily guarantee stability. Islamic commercial banks remain stable amid the COVID-19 pandemic, showing no significant impact on their overall stability. These findings will enhance bank understanding of the risks faced by banks and form the basis for new regulatory efforts to strengthen overall risk management, including liquidity risk and credit risk.
Do Political Risks Influence Sharia Bank Stability? The Case of Southeast Asia Zulfa Muasaroh Binti Rahmawati; Titis Miranti; Ulfi Kartika Oktaviana; Yenny Kornitasari
Shirkah: Journal of Economics and Business Vol. 10 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v10i2.752

Abstract

The present study examines the influence of political risk on the stability of Sharia banks in Southeast Asia, a region characterized by rapid economic growth alongside significant political uncertainties. This study aims to fill a gap in the existing literature, which has largely focused on other regions like the Middle East and North Africa. This study employs a quantitative methodology, utilizing panel data regression with a Fixed Effects Model to analyze data from 17 of the largest Sharia banks in Southeast Asia over the period of 2018-2022. The data for the study were obtained from the annual financial reports of these banks. The key findings indicate that political risk has a significant negative impact on the stability of Sharia banks in the region. In contrast, the quality of regulation and the total assets of the banks were found to have a significant positive influence on their stability. Other internal factors, such as the Capital Adequacy Ratio (CAR), Non-Performing Financing (NPF), Financing to Deposit Ratio (FDR), and Return on Assets (ROA), did not show a statistically significant effect on bank stability in the context of this study. The results emphasize the importance for policymakers and regulators in Southeast Asian nations to actively manage political risks and continuously improve the quality of financial regulations to ensure the resilience of the Sharia banking sector. This research contributes valuable insights for academics, bankers, and government authorities by highlighting the crucial role of the political and regulatory environment in maintaining the stability of Islamic financial institutions.
What Drives Islamic Banking Stability in ASEAN? The Mediating Role of Good Governance Zainal Abidin; Ulfi Kartika Oktaviana; Habil Khairat
Shirkah: Journal of Economics and Business Vol. 11 No. 1 (2026)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/shirkah.v11i1.894

Abstract

This study examines the determinants of Islamic banking stability in the ASEAN region by investigating the mediating role of good governance in the relationship between internal and external risk factors and bank stability. While prior studies have primarily focused on the direct determinants of banking resilience, limited attention has been paid to the intermediary role of governance in shaping Islamic banking stability. This study addresses this gap by integrating good governance into a comprehensive analytical framework. Using secondary panel data from Islamic banks in Indonesia and Malaysia during the 2019–2023 period, the study employs multiple regression analysis and the Sobel test to assess mediation effects. Data were collected from individual bank financial reports, central bank databases, and the Worldwide Governance Indicators (WGI). The findings reveal that credit risk negatively and significantly affects Islamic banking stability, whereas capital risk and exchange rates exert positive and significant effects. Interest rates demonstrate a positive but insignificant influence. Good governance significantly enhances Islamic banking stability and mediates the effects of capital risk and exchange rates, but not those of credit risk and interest rates. These findings underscore the strategic importance of governance mechanisms in strengthening the resilience and sustainability of Islamic banking institutions amid regional and global financial uncertainty.
Co-Authors Habil Khairat Titis Miranti Yenny Kornitasari Zainal Abidin Zulfa Muasaroh Binti Rahmawati