Aminy, Muhammad Muhajir
Universitas Islam Negeri Mataram

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The Determinants of Islamic Banks’ Stock Prices: Evidence from the GCC Countries Muhammad Muhajir Aminy; Ahmad Sauqi
Jurnal Ilmiah Ekonomi Islam Vol 6, No 3 (2020): JIEI : Vol.06, No. 03, 2020
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (288.784 KB) | DOI: 10.29040/jiei.v6i3.1284

Abstract

Islamic banks’ stock is a new interesting material to be discussed among Islamic economics scholars. The majority of Islamic banks’ stocks presents in the middle-east countries, especially those which are joining as the Gulf Cooperation Council (GCC) countries. Samples in this study were 10 Islamic banks in the Gulf Cooperation Council (GCC) countries with secondary data from their financial report. A panel data regression analysis was employed to seek the influence of all observed variables (ROA, ROE, and ICSR (zakat)) as the determinant factors toward Islamic banks’ stock prices. The study found that all the independent variables simultaneously have an impact on Islamic banks’ stock prices in that area. The study also found that the variable of ROA has a negative significant impact, the variable of ROE has a positive significant impact, and ICSR (zakat) has an insignificant impact on Islamic banks’ stock prices in the GCC countries. This study suggested all Islamic banks globally to consider investors’ sentiment on Islamic banks’ financial condition before entering the Islamic capital market
Citation analysis of 10-year Islamic economic research papers indexed in dimensions.ai Muhammad Muhajir Aminy; Restu Fahdiansyah; Shofia Mauizotun Hasanah
Al-Amwal : Jurnal Ekonomi dan Perbankan Syari'ah Vol 13, No 2 (2021)
Publisher : IAIN Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/amwal.v13i2.8863

Abstract

The main objective of this study is to analyze cited papers in terms of the most cited author, journal, article, and institution. All documents are listed on dimensions.ai as the source of papers and containing the keyword “Islamic economics” in the title or abstract of the articles. The research method used in this study is citation analysis. The publication period is 10 years, starting from 2012 to 2021. This study showed that only 264 (19.32%) of 1,366 published articles were cited at least once by other documents during the observation period. The majority of these items came from Indonesia, with a total of 120 documents (45.4%). The most cited author is Hafas Furqani with 13 articles (4.9%), the most cited journal is Jurnal Ekonomi Syariah (JES) with a total of 32 articles (12.1%), the most cited article is a paper titled "Corporate social responsibility, waqf system, and zakat system as faith-based model for poverty reduction" with its 33 citations, and the most cited institution is Airlangga University in Indonesia with a total of 18 articles (6.8%). This research also provided a finding that 25 institutions and organizations cite one another in their published articles. 
The Determinants of Islamic Banks’ Stock Prices Volatility: Evidence From the GCC Countries Muhammad Muhajir Aminy; Ahmad Sauqi
Al-Amwal : Jurnal Ekonomi dan Perbankan Syari'ah Vol 12, No 2 (2020): .
Publisher : IAIN Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/amwal.v12i2.7050

Abstract

Islamic banks’ stock is a new interesting material to be discussed among Islamic economics scholars. The majority of Islamic banks’ stocks presents in middle-east countries, especially those which are joining as the Gulf Cooperation Council (GCC) countries. Samples in this study were 10 islamic banks in the Gulf Cooperation Council (GCC) Countries with secondary data from their financial report. A panel data regression analysis was employed to seek the influence of all observed variables (ROA, ROE, and ICSR (zakat)) as the determinant factors toward Islamic banks’ stock prices volatility. The study found that all the independent variables simultaneously have an impact on Islamic banks’ stock prices in that area. The study also found that the variable of ROA has a negative significant impact and the variable of ROE has a positive significant impact, while total of zakat spending by corporates as the ICSR variable has an insignificant impact on Islamic banks’ stock prices because zakat is an obligation to pay within the GCC countries. This study suggested all Islamic banks globally to consider investors’ sentiment toward Islamic banks’ financial condition before entering the Islamic capital market.
PRAKTEK SHORT SELLING, MARGIN TRADING, DAN INSIDER TRADING DI PASAR SAHAM DALAM PERSPEKTIF ISLAM Muhammad Muhajir Aminy
IQTISHADUNA Vol. 9 No. 1 (2018): Juni 2018
Publisher : UIN Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (515.931 KB) | DOI: 10.20414/iqtishaduna.v9i1.686

Abstract

Stock trading has been allowed in Islam because it does not conflict with Islamic principles. It is similar to other common commodity trading, because in this stock market we can find stock’s seller and buyer, object to be traded, and its market. Not all activities are allowed in stock market according to Islamic law or doesn’t fulfill sharia compliance. Short selling practice in stock market is prohibited because it allows investors to sell stock which they do not have.Margin trading can’t be implemented as an activity in islamic stock market because it relates to interest (usury) which is not allowed in Islam. Meanwhile, insider trading is prohibited in Islam because it indicates fraudulence activity (tadlis) inside the market.
OFFSHORE BANKS: PENGENALAN SINGKAT DAN KEJAHATAN KEUANGAN INTERNASIONAL YANG TERKAIT Muhammad Muhajir Aminy1, Muhamad Johari2
IQTISHADUNA Vol. 10 No. 1 (2019): Juni 2019
Publisher : UIN Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (214.451 KB) | DOI: 10.20414/iqtishaduna.v10i1.1605

Abstract

Pembahasan mengenai offshore banks atau perbankan lepas pantai sangat jarangditemukan sebagai salah satu tema diskusi diantara para akademisi dalam penelitiandan artikel yang telah terpublikasi di jurnal. Tidak seperti perbankan pada umumnya,offshore banks hanya ada di beberapa negara yang telah memberikan izin dan memilikikebijakan untuk mendirikan salah satu jenis perbankan tersebut. Oleh karenanyainformasi terkait offshore banks sangat terbatas. Offshore banks melakukanpengumpulan dan pendistribusian dana dalam jumlah besar di dalam sistem keuanganinternasional. Perbankan jenis ini memiliki persepsi negatif bagi mayoritas pendudukdunia, terutama setelah terjadinya aksi 9/11 di New York. Offshore banks dituduhsebagai bank yang memfasilitasi dan memberikan bantuan dana kepada para terorisuntuk melakukan aksi terorisme mereka, yaitu menabrakkan pesawat ke gedung WorldTrade Center (WTC) di New York. Tujuan dari artikel ini adalah untuk mengenalkanoffshore banks kepada publik, khususnya para pembaca. Oleh karena masih minimnyajumlah artikel yang membahas mengenai offshore banks, diharapkan tulisan ini dapatmemperkaya literatur dan referensi yang membahas jenis perbankan tersebut di bidangekonomi dan perbankan internasional.
Mapping the Trend of Islamic Economic Studies Indexed in Sinta Website: A Bibliometric Analysis Muhammad Muhajir Aminy; Imronjana Syapriatama; Restu Fahdiansyah; Gatot Suhirman; Muhammad Salahuddin
Share: Jurnal Ekonomi dan Keuangan Islam Vol 10, No 2 (2021)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (163.753 KB) | DOI: 10.22373/share.v10i2.10465

Abstract

Research on Islamic economics experienced rapid development in recent years along with the development of Islamic economics as a branch of science throughout the world, especially in Muslim countries. This paper aims at mapping and observing the trend of Islamic economic studies listed on SINTA, the official Indonesian indexing website. The sampling data for this study is 114 published papers obtained from the website. The data are analyzed using quantitative descriptive with bibliometric analysis method. This study found that most papers are published by “Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah”, owned by Syarif Hidayatullah State Islamic University. The qualitative approach is most used by research samples in this study with 74 papers (64.91%), while quantitative is only used by 40 papers (35.08%). It also found that Islamic economic research in Indonesia is dominated by Islamic bank topics with several general bank keywords, such as efficiency, profitability, liquidity, and Non-Performing Financing (NPF). This study suggested that further researchers conduct more studies on Islamic or Sharia values implemented within Islamic banks since it is the main difference between Islamic and conventional banks. Further studies can also observe broader problems like poverty and how the Islamic economy has overcome this issue==================================================================================================== ABSTRAK – Pemetaan Tren Kajian Ekonomi Islam pada Pengindeks SINTA: Suatu Analisis Bibliometrik. Penelitian di bidang ekonomi Islam mengalami perkembangan yang cukup signifikan beberapa tahun terakhir bersamaan dengan perkembangan ekonomi Islam sebagai salah satu cabang ilmu pengetahuan, terutama di negara-negara dengan mayoritas penduduknya adalah Muslim. Artikel ini bertujuan untuk melakukan pemetaan dan melihat tren publikasi pada artikel penelitian ekonomi Islam yang terindeks SINTA, website pengideks resmi Indonesia. Sebanyak 114 artikel diperoleh dari SINTA untuk dijadikan sebagai sampel penelitian. Metode yang digunakan adalah deskriptif kuantitatif dengan analisis bibliometrik. Penelitian ini menemukan bahwa mayoritas paper dipublikasikan oleh “Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah” dari UIN Syarif Hidayatullah Jakarta. Pendekatan kualitatif digunakan oleh 74 sampel artikel (64.91%), sementara pendekatan kuantitatif digunakan oleh 40 artikel (35.08%). Studi ini juga menemukan bahwa artikel kajian ekonomi Islam di Indonesia masih didominasi oleh penelitian terkait bank syariah dengan beberapa kata kunci, diantaranya: efisiensi, profitabilitas, likuiditas, dan Non-Performing Financing (NPF). Penelitian ini merekomendasikan kepada para peneliti di bidang ekonomi Islam untuk melakukan kajian lebih mendalam pada nilai-nilai Syariah yang diimplementasikan di bank Syariah karena hal tersebut merupakan perbedaan mendasar antara bank Syariah dan bank konvensional. Isu lebih luas terkait kemiskinan dan bagaimana ekonomi Islam mengatasinya juga dapat diteliti secara lebih komprehensif dalam kerangka penelitian ekonomi Islam.
Analisis pengaruh Return On Asset (ROA), Return On Equity (ROE), Earning Per Share (PER), dan Price Earning Ratio (PER) terhadap harga saham yang konsisten listing pada Jakarta Islamic Index (JII) Aminy, Muhammad Muhajir
Journal of Enterprise and Development (JED) Vol. 1 No. 2 (2019): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (968.557 KB) | DOI: 10.20414/jed.v1i02.973

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Purpose — This paper discusses the influence of the company's financial ratios, namely Return On Assets (ROA), Return on Equity (ROE), Earning Per Share (EPS), and Price Earning Ratio (PER) on stock price movements listed on Jakarta Islamic Index (JII).Research method — This study uses a quantitative approach with panel data regression analysis method with eight companies as samples.Result — This study found that all variables affect the movement of stock prices since in a simultaneous test with the value of Prob. F < alpha (0,05) and adjusted R-Squared value is 0,9709. While in partial test, EPS and PER are the only variables that have an impact on stock price movements. The variable that has a dominant influence on stock prices is EPS with a regression coefficient of 1,206877.
The impact of tourism village on the community’s economy of Setanggor village in Lombok Island, Indonesia Putri, Tutik Sukmalasari; Mahmud, Agus; Aminy, Muhammad Muhajir
Journal of Enterprise and Development (JED) Vol. 4 No. 1 (2022): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v4i1.4719

Abstract

Purpose — To ascertain the development strategy used to establish tourism communities and the economic impact on the community.Research method — This study employs a qualitative approach with interview as the data collection method which is sourced from the head of the tourism awareness group (POKDARWIS) and tourism business actors, including songket artisans, guiders, small traders, breeders, employees of tourist attractions, lodging services, art studios, travel services, compass fertilizer businesses, village heads, and the community.Result — The study's findings include the development model that was used to develop Setanggor Tourism Village, namely the Community Based Tourism development model which entails three components: community participation in decision-making, community involvement in businesses and profit generation, and resource empowerment and profit distribution. The growth of this tourism village has a significant impact on people's income, employment possibilities, prices, community ownership and control, and tourism objects.
Enhancing financial stability in Islamic banks: An investigation of determinants during the COVID-19 in Indonesia Putri, Ardita Herniati; Zulpawati, Zulpawati; Syapriatama, Imronjana; Mas'ud, Riduan; Aminy, Muhammad Muhajir; Rooly, Mohamed Saleem Ahamed Riyad
Journal of Enterprise and Development (JED) Vol. 6 No. 2 (2024): Journal of Enterprise and Development (JED)
Publisher : Faculty of Islamic Economics and Business of Universitas Islam Negeri Mataram

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20414/jed.v6i2.10054

Abstract

Purpose — This study investigates the determinants of Islamic banks' stability in Indonesia amidst the Covid-19 pandemic.Method — Employing a causality-associative quantitative approach, the research utilizes purposive sampling and secondary data collection from monthly financial reports on the official websites of OJK (Financial Services Authority) and BI (Bank Indonesia). Statistical techniques including normality test, multicollinearity test, t-test, f-test, R2 test, and multiple linear regression, aided by SPSS version 22 and Microsoft Excel, are employed for data analysis.Result — The results reveal that Islamic banks' total assets significantly positively influence their stability in Indonesia. Additionally, variables such as Operational Costs to Operational Income (OCOI) ratio and BI 7-Day Reverse Repo Rate (BI7DRR) exhibit significant negative effects on Islamic banks' stability. Practical implications — Understanding the influence of total assets, Operational Costs to Operational Income (OCOI) ratio, and the BI 7-Day Reverse Repo Rate (BI7DRR) on Islamic banks' stability in Indonesia during the Covid-19 pandemic can guide policymakers and bank management in implementing measures to strengthen resilience and mitigate risks, such as strategic asset management and cost optimization strategies.
The Determinants of Islamic Banks’ Stock Prices Volatility: Evidence From the GCC Countries Muhammad Muhajir Aminy; Ahmad Sauqi
Al-Amwal : Jurnal Ekonomi dan Perbankan Syari'ah Vol 12, No 2 (2020): .
Publisher : UIN Siber Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/amwal.v12i2.7050

Abstract

Islamic banks’ stock is a new interesting material to be discussed among Islamic economics scholars. The majority of Islamic banks’ stocks presents in middle-east countries, especially those which are joining as the Gulf Cooperation Council (GCC) countries. Samples in this study were 10 islamic banks in the Gulf Cooperation Council (GCC) Countries with secondary data from their financial report. A panel data regression analysis was employed to seek the influence of all observed variables (ROA, ROE, and ICSR (zakat)) as the determinant factors toward Islamic banks’ stock prices volatility. The study found that all the independent variables simultaneously have an impact on Islamic banks’ stock prices in that area. The study also found that the variable of ROA has a negative significant impact and the variable of ROE has a positive significant impact, while total of zakat spending by corporates as the ICSR variable has an insignificant impact on Islamic banks’ stock prices because zakat is an obligation to pay within the GCC countries. This study suggested all Islamic banks globally to consider investors’ sentiment toward Islamic banks’ financial condition before entering the Islamic capital market.