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Tazkia Islamic Finance and Business Review
Published by Institute for Research and Community Empowerment
ISSN : 24600717     EISSN : 24600717     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Tazkia Islamic Finance and Business Review (TIFBR) is a peer-reviewed journal published by the Institute for Research and Community Empowerment (IRCE), Tazkia University College of Islamic Economics in collaboration with Association of Islamic Economics Lecturers (ADESY). The Journal is semi-annual journal issued in July and December. The aim of the journal is to disseminate Islamic Economics, finance and business researches done by researchers both from Indonesia and overseas.
Arjuna Subject : -
Articles 188 Documents
 10   11   12   13   14 
ANALISIS DETERMINAN PERINGKAT SUKUK DAN PERINGKAT OBLIGASI DI INDONESIA Neneng Sudaryanti; Akhmad Affandi Mahfud; Ries Wulandari
Tazkia Islamic Finance and Business Review Vol. 6 No. 2 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v6i2.54

Abstract

This study attempts to analyze the determinants of sukuk and bond rating in Indonesia. The purpose of this study is to determine factors influencing sukuk and bond rating using separate test. The study uses financial and non financial ratios such as company growth, firm size, profitability, liquidity, leverage ratio, and sukuk and bond maturity. This study examines corporate sukuk and bond that listed from 2004-2006 (9 sukuk and 15 bonds) at Indonesian Stock Exchange for the period of 2007-2009. This research employs ordinal logistic regression. The result of the study reveales that only firm size variable determines sukuk rating while others are not (growth, profitability, liquidity, leverage ratio and maturity). Firm size, profitability, and maturity influences the bond rating above 5 years while growth, liquidity, and leverage ratio are not significantly influence the bond rating.JEL Classification: E44,G11Key words: sukuk rating,bond rating,ordinal logistic regression
Cover Vol. 11 (2), 2017 nashr akbar
Tazkia Islamic Finance and Business Review Vol. 11 No. 2 (2017)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v11i2.179

Abstract

Detecting Internal Control Problems Based on COSO and Islamic Perspective: Case on SMEs Yuniarti Hidayah Suyoso Putra
Tazkia Islamic Finance and Business Review Vol. 8 No. 1 (2013)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v8i1.60

Abstract

Objective – The presence of Small Medium Enterprises (SMEs) has been able to be livelihoods sources and absorb more labor, even though it has a relative smaller contribution of additional value compared to the Large-scale Enterprises. The number of economic actors of SMEs spread across area from urban to rural. However, SMEs have faced several serious problems. These problems are caused by the unique characteristics of SMEs itself. First, lack of managerial skills due to limited human resources and lack of monitoring which it is rarely conducted by the manager or the owner. Second, lack of information and technology to carry out operations. Both problems have great impacts in lack of internal controls. Third, SMEs also face problems in developing business scale, limited access to capital to the banks and financial institutions due to the lack of transparency. Therefore, this research aimed to detect to what extent of the problems arising in the application and assessment of internal controls performed by SMEs.Method – The research employs descriptive qualitative research method through direct observation, interview and business documentation owned by the company. Research materials are 29 SMEs consisting of 19 trading SMEs and 10 service SMEs. All SMEs are located in Malang city. Detection of application and assessment of internal controls in this study is based on the COSO framework and the Islamic perspective.Result – Internal control activities indicators apply the five principles of COSO framework which focused on three layers. First layer is self-assessment control area. Second layer is environment control area and the third layer is independent control area. While the Islamic perspective is focused on the internal control of business activities based on the Qur'an and Hadith. The results derive from application and assessment based on COSO framework and Islamic perspectives are complementary in improving the practice of internal control.Conclusion – Internal control problems detected in this study are generally caused by lack of managerial skills due to limited human resources, and lack of monitoring which it rarely done by manager or the owner, lack of technology and information to carry out  the operations and moreover the accounting information system has not been well established. The results are expected to assist management in designing and implementing effective internal control system and provide assurance of easy access to capital. Keywords : Internal Control Problems, COSO framework, Islamic Perspective, SMEs
Determinants of Customer’s Intention to Use Murabaha Financing In Indonesia: Modified the TRA Model Dety Nurfadilah; Sudarmawan Samidi
Tazkia Islamic Finance and Business Review Vol. 13 No. 1 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i1.191

Abstract

This study aims to investigate factors influencing customer’s intention to use murabaha financing in Indonesia, and to what extent do attitude, social influence, religious obligation, price mechanism, and government support affect customer’s intention to use murabaha financing in Indonesian Islamic banks. 200 customers of Bank Muamalat Indonesia and Bank Syariah Mandiri were collected through a semi-structured questionnaire. The study modifies the theory of reasoned action and extends the earlier research conducted by Amin et al. (2011) and Ali et al. (2015). The findings show that attitude, social influence, government support, and price mechanism have a positive and strong relationship with intention to use murabaha financing. In the contrary, the religious obligation is not the main factors that determine the customer’s intention to use murabaha financing. The findings have practical implications to fill the gap between the current practices of Islamic banks and perception from a consumer point of view. This study also analyzed possible variables that may influence the strategies to attract more customers to use murabaha financing and increase Islamic bank’s market share. To the best of author’s knowledge, this is the first study which modified the TRA model in the context of murabaha financing in Indonesian Islamic Banks. 
The Financial Management Practices of the Mosques in the Special Region of Yogyakarta Province, Indonesia Muhammad Akhyar Adnan
Tazkia Islamic Finance and Business Review Vol. 8 No. 2 (2013)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v8i2.65

Abstract

Objective – This study is trying to investigate the financial management of the Masjid (Mosques) in the Special Region of Yogyakarta Province. Three main issues were focused: the amount of cash flow which include the balances on hand; the application of transparency and accountability principles in financial matters, and sound practice of financial management which include budgeting, strategic formulation and performance evaluation.Methods - The study is an exploratory in nature. The Special Region of Yogyakarta consists of four counties and one city (municipality). 50 Mosques have been selected as the samples. Each county / city is represented by 10 Mosques. They are selected using sampling method. The simple descriptive analysis is conducted on the data collected.Results - Based on the data analysis, the study found that there is a significant cash flow of those selected samples, dominated by Infaq / Sodaqoh. Few Mosques recognized that they also receive Zakah and Waqaf fund.Conclusion - Generally the Mosque Management have applied the principles of transparency and accountability in the form recording, although their skill in doing so needs to be improved. However, a significant number of Mosques Management have not yet set the strategic formulation, as well as budgeting process to realize the budget and its evaluation. Keywords : Cash Flow, Financial Management, Mosque
Front Matter Vol. 13 (1), 2019 nashr akbar
Tazkia Islamic Finance and Business Review Vol. 13 No. 1 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i1.204

Abstract

Poverty Determinants in Central Lombok District and the Countermeasures Effort: in Islamic Perspective Rizkia Laila Ramdhani
Tazkia Islamic Finance and Business Review Vol. 13 No. 2 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i2.216

Abstract

This study discusses poverty determinants in Central Lombok Regency and its alleviation from Islamic Perspective. Methodologically, this study uses multiple linear regression with the Ordinary Least Squares (OLS) model and qualitative descriptive analysis. It uses secondary data obtained from the Central Statistics Agency (BPS), the National Development Planning Agency (BAPPENAS), and Regional Development Planning Agency (BAPPEDA). The result of this study shows that the population income affects the number of poor people. Therefore, the increased income of poor people to decrease poverty becomes policy recommendation in Islamic Perspective for related government in Central Lombok Regency.
Shariah Compliance of Wakalah Concept in Takaful Operation: A Case Study of A Takaful Operation in Malaysia Nadiah 'Aqilah Mohd Amin; Mohamad Abdul Hamid
Tazkia Islamic Finance and Business Review Vol. 8 No. 2 (2013)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v8i2.70

Abstract

Objective – The main objective of this paper is to focus on wakalah model and its impact in takaful operation and   to  evaluate  the  compliance  of  takaful  company  with  shari’ah principles in applying the wakalah concept.Methods – qualitative method which is based on library research. Reference to many books, articles, proceeding papers, handouts, journals, and internet source regarding wakalah by Etiqa Takaful Berhad.Result–The finding of this research shows that the takaful operation in Etiqa Takaful Berhad relies solely on the role of agents to market and promote their products. The agents shall act in accordance with the agreement signed by both parties as to the duties and work to be done by the agent. Binding agreement between the agent and the principal in Etiqa Takaful Berhad is  the Family Takaful  Agency Agreement  and  the General  Takaful  Agency Agreement.Conclusion –It can be concluded that  the agency system should be further strengthened as it has important role in takaful business. Indirectly, it can enhance the development of Islamic finance in Malaysia as well as make it known to the society that it is a good system and can completely replace conventional insurance in this industry.Keywords: Wakalah, Agency System, Takaful, Conventional Insurance
ZIS Institutions and Inclusive Asset-building Policy Agenda Davy Hendri
Tazkia Islamic Finance and Business Review Vol. 7 No. 1 (2012)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v7i1.5

Abstract

Objective – This study will try to describe inclusive asset building (further abbreviated as IAB ) concept which proposed by Michael Sherreden and it’s implementation as the main agenda of ZIS institutions activities. Anti-poverty proposals from various parties include government agencies, private and public, generally focusing on income subsidy policy to encourage public demand over the minimum edge (borderline poverty) of live well.Method - Library research is applied since this paper relies on secondary data by thoroughly reviewing the most relevant literature. This will be elaborated starting from the introduction of mechanisms and IAB programs in the main activities of ZIS institutions. In addition, several prerequisites adjustments and strengthening either in terms of institutional, organizational capacity and management needs to be conducted by the ZIS institutions so that this study will achieve as expected.Results -.Combination of income support with the asset accumulation such as subsidise saving for the poor will be more long-term. Which is expected to help out the poor from socio-economic alienation. Through the implementation of this concept, ZIS institutions have a chance to heighten the leverage of their role in poverty alleviation.Conclution – All resources, either internal and external that have been built by LAZ during these days, is a valuable capital to initiate the paradigm shift. Also, the benefits of institutional characteristics and closely relationship with the clients (mustahik) could be additional notes.Keywords: Poverty, Income Subsidy, Inclusive Asset
Detecting The Expected Rate of Return Volatility of Financing Instruments of Indonesian Islamic Banking through GARCH Modeling (Generalized Autoregressive Conditional Heteroscedasticity) Nurul Huda; Amrin Barata
Tazkia Islamic Finance and Business Review Vol. 9 No. 1 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v9i1.78

Abstract

Objective - Islamic banks are banks which its activities, both fund raising and funds distribution are on the basis of Islamic principles, namely buying and selling and profit sharing. Islamic banking is aimed at supporting the implementation of national development in order to improve justice, togetherness, and equitable distribution of welfare. In pursuit of supporting the implementation of national development, Islamic banking often faced stability problems of financing instruments being operated. In this case, it is measured by the gap between the actual rate of return and the expected rate of return. The individual actual RoR of this instrument will generate an expected rate of return. This raises the gap or difference between the actual rate of return and the expected rate of return of individual instruments, which in this case is called the abnormal rate of return. The stability of abnormal rate of return of individual instruments is certainly influenced by the stability of the expected rate of return. Expected rate of return has a volatility or fluctuation levels for each financing instrument. It is also a key element or material basis for the establishment of a variance of individual instruments. Variance in this case indicates the level of uncertainty of the rate of return. Individual variance is the origin of the instrument base for variance in the portfolio finance that further a portfolio analysis. So, this paper is going to analyze the level of expected RoR volatility as an initial step to see and predict the stability of the fluctuations in the rate of return of Indonesian Islamic financing instruments.Methods – Probability of Occurence, Expected Rate of Return (RoR) and GARCH (Generalized Autoregressive Conditional Heteroscedasticity).Results - The expected RoR volatility of the murabaha and istishna financing instruments tend to be more volatile than expected RoR volatility of musharaka and qardh financing instruments.Conclusions – The uncertainity of Musharaka and qardh financing instruments tend to be more stable than other Islamic financing instruments. 

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