Tazkia Islamic Finance and Business Review
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.
Articles
188 Documents
<![CDATA[Index of Real Sector Returns as Price Benchmarking for Islamic Banking Products ]]>
<![CDATA[Researchers of Islamic Banking Department]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 7 No. 1 (2012) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v7i1.2
<![CDATA[Objective – Islamic Banking is closely related to the real sector. Then, its operation should reflect the real sector which is expected to contribute to the sustainable economic growth. Nevertheless, Islamic banks are still benchmarking the price of their products (profit sharing and sales) on interest rate. This is as an implication of the implementation of the dual banking system. Moreover, the small portion of Islamic banking compared to the total national banks causes the competitiveness of Islamic banking product in terms of pricing has a high correlation with the interest rate of conventional counterpart. This phenomenon indicates the need to find.Method – This research employed library research method since this paper relies on secondary data by thoroughly reviewing the most relevant literature. The paper attempt to propose a pricing indicator which is based on the real sector activities as the root of Islamic banking operations.Result – Theoretically, this indicator can reflect the real rate of return of every industry sector. In addition, it can help Bank Indonesia to monitor the real sector performance and analyze the possible gap between real sector activities and financial sector. Furthermore, when the benchmark of real rate of real sector return is available, the return index of Islamic banking reflecting the profit sharing performance of the whole Islamic banking industry can be formulated. This concept is different with other indexes which are corresponding to the price of financial assets.Conclusion – In general, return index of real sector as a reference for Islamic banking product pricing is expected to define the way of non-interest return analysis, to calculate the non-interest return of selected sectors that becomes the focus of analysis using Cash Recovery Rates (CRR), forming an index of industry by sector in the second stage, by doing a certain weighting of those companies, to analyze the relationship between macro factors and CRR by sector and to forecast.]]>
<![CDATA[Sociological Foundation of Islamic Banking Law Legislation as The Legal Umbrella of Economic and Islamic Finance Development in Indonesia ]]>
<![CDATA[Abdul Ghafur]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 9 No. 1 (2015) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v9i1.75
<![CDATA[Objective - Sociologically, the existence of Law No.21/2008 on Islamic Banking in the splendor of economic development and Islamic finance is an interesting thing to observe. This paper wants to discuss the sociological foundation of Islamic banking law legislation as the legal umbrella of economic and Islamic finance development in Indonesia.Methods – qualitative Research, includes the study of law.Conclusions – At least, there are several spectrums that can be understood from the emergence of this law. First,the establishment of Islamic Banking Act is essentially a response to the provisions of Islamic law that has become the popular belief in the majority of Indonesian people who crave the realization of banking institutions which are free from usury, which is the Islamic law since his arrival in the archipelago until now classified as living law in the community. This reality is associated with the construction established by von Savigny. Second, the formation of Law No. 21/2008 concerning Islamic Banking is a response to social economic demand both nationally and globally. The presence of Islamic banks have become a necessity in managing the economy and coping with the economic crisis based on the underlying transaction. Third, the Establishment of Law No. 21/2008 concerning Islamic Banking in legal political perspective, has a basic principle, an aim and a response to the dynamic development of Indonesian society, particularly in relation to the development of Islamic economy. Fourth, formation of Islamic Banking Act affects the Islamic economic development in Indonesia, particularly in relation to the development of Islamic banking in Indonesia. Keywords: Sociological Foundation, Islamic Banking Law, Economic Development.]]>
<![CDATA[The Need of Standardization of Individual Zakat Calculation in Indonesia ]]>
<![CDATA[Dodik Siswantoro]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 7 No. 1 (2012) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v7i1.7
<![CDATA[Objective – This research aimed to analyze zakat calculation practices from online providers. There are some differences in the calculation method, for example different treatment in zakatable deduction, types of income and zakat for business.Methods - Twenty-three zakat online calculators are analyzed and then grouped into a main category. A simulation model is employed by inputting several common assumptions.Results - The results showed that generally three zakat calculator become main providers and differences are still occur.Conclusion – This research showed that the calculation of zakat should be simpler, standardized, and may not cause double zakat counting for profession-zakat. Government should intervene to provide a single zakat calculation method that must be refereed by all zakat institutions and link it to tax system.Keywords: Zakat, accounting, calculation, online]]>
<![CDATA[The Urgency of the Regulation of Certification as an Attempt to Optimize the Human Resources in Developing Indonesia’s Sharia Insurance ]]>
<![CDATA[lastuti abubakar Gani]]>;
<![CDATA[Tri Handayani]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 9 No. 2 (2015) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v9i2.82
<![CDATA[Objectives - The development of Islamic insurance in Indonesia contributed to economic growth in 2014. The principle of mutual cooperation and tabarru contract is a characteristic of Islamic insurance. The Opportunity to increase the role of Islamic insurance as an economic entity is done by utilizing various aspects of human resource readiness. Human Resource are required to have a comprehensive understanding of Islamic insurance in order to create compliance with Islamic principles for product and services offered.It can provide legal protection against the Takaful participants. Issues to be examined is how the readiness of the relevant regulatory certification and how Regulatory model certification appropriate human resources in order to develop Islamic insurance in Indonesia. Methods -The method used is a normative juridical that through the efforts of an inventory of rules and descriptive analytical. To obtain the appropriate regulatory models, a legal comparison method is employed.Results - Based on the research results, the regulation of certification is required and should include the human resources, starting from a selling agent to the management as a decision maker. This regulation will push the entire human resources involved in the Islamic insurance industry to has the capacity and capability in providing services to the public, and to ensure and guarantee that the services offered comply with Islamic principles. Association of Islamic Insurance Indonesia was initiated concerning certification provisions, but has not been followed by a strong regulations readiness as a legal basis.Conclusion -Therefore we need a comprehensive regulation and it must be issued by Indonesian Financial Services Authority.]]>
<![CDATA[Introducing Waqf Based Takaful Model in India ]]>
<![CDATA[Syed Ahmed Salman]]>;
<![CDATA[Sheila Nu Nu Htay]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 7 No. 2 (2012) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v7i2.15
<![CDATA[Objective – Waqf is a unique feature of the socioeconomic system of Islam in a multi- religious and developing country like India. India is a rich country with waqf assets. The history of waqf in India can be traced back to 800 years ago. Most of the researchers, suggest how waqf can be used a tool to mitigate the poverty of Muslims. India has the third highest Muslim population after Indonesia and Pakistan. However, the majority of Muslims belong to the low income group and they are in need of help. It is believed that waqf can be utilized for the betterment of Indian Muslim community. Among the available uses of waqf assets, the main objective of this paper is to introduce waqf based takaful model in India. In addition, how this proposed model can be adopted in India is highlighted.Methods – Library research is applied since this paper relies on secondary data by thoroughlyreviewing the most relevant literature.Result – India as a rich country with waqf assets should fully utilize the resources to help the Muslims through takaful.Conclusion – In this study, we have proposed waqf based takaful model with the combination of the concepts mudarabah and wakalah for India. We recommend this model based on the background of the country and situations. Since we have not tested the viability of this model in India, future research should be continued on this testing.Keywords : Wakaf, Takaful, Kemiskinan dan India]]>
<![CDATA[CONSUMERS’ PREFERENCE TOWARD ISLAMIC BANKING ]]>
<![CDATA[delta khairunnisa]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 10 No. 1 (2016) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v10i1.86
<![CDATA[Objective - This research aims to provide empirical evidence on the factors motivating consumers to save in Islamic banking.Methods - The one sample t-test is employed to test hypothesis. The validity and the reliability of research variables have been examined.Results - The result proved that consumers’ decision to save in Islamic banking are influenced by economic and religious factors, such as receiving economic benefits, quick services, online facilities, easily reachable locations, and having a better understanding of Islamic principles.Conclusions - The existence of a relationship between economic and religious preference proves that, in making decisions, consumers wish to attain two satisfaction levels: satisfaction in the world and in the hereafter.]]>
<![CDATA[Corporate Social Responsibility And Islamic Business Organizations: A Proposed Model ]]>
<![CDATA[Rusnah Muhamad]]>;
<![CDATA[Mohd Rizal Muwazir]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 3 No. 1 (2008) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v3i1.20
<![CDATA[The issue of corporate social responsibility (CSR) has been of growing concern among business communities in recent years. Various corporate leaders maintain that business is considered to contribute fully to the society if it is effi cient, profi table and socially responsible. Islam is considered as addin (a way of life), thus, providing comprehensive guidelines in every aspects of the believers’ life. It is the aim of this paper to propose an Islamic model of corporate social responsibility based on human relationships with the God (hablun min’Allah); with other fellow human being (hablun min’an-nas) and with the environment.Keywords : Corporate Social Responsibility, Islamic Business Organization]]>
<![CDATA[The Comparison of Sukuk and Bond Absorption; Deficit Budget Financing in Indonesia ]]>
<![CDATA[salman al parisi]]>;
<![CDATA[Aam Slamet Rusydiana]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 10 No. 2 (2016) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v10i2.106
<![CDATA[Objectives: This study aims to analyze: (i) the comparison of sukuk and bond absorption in deficit budget financing; and (ii) which variable that has significant effect on deficit budget (Y1= equation 1), on bond (Y2= equation 2) and on sukuk (Y3 = equation 3).Method: This study uses Two Stage Least Square (2SLS) method. The data used is from Bank of Indonesia, BPS, Ministry of Finance, IDX, ministry of trade, with monthly data, February 2009 – December 2015.Results: The result shows that sukuk has a significant negative effect on deficit budget while bond has a significant positive effect on deficit budget. In addition, import has a significant negative effect on deficit budget while exchange rate variable has a significant positive effect on deficit budget (the first equation). BI rate has significant negative effect on bond, while SBI and deficit budget has significant positive effect on bond (the second equation). Then, Inflation and bond has significant positive effect on sukuk, while deficit budget has significant negative effect on sukuk (the third equation).Conclusion: Both sukuk and bond have significant correlation in increasing each of them. Furthermore, both sukuk and bond have significant effect on deficit budget.]]>
<![CDATA[Efficiency of Islamic Rural Banks (BPRS) in East Java Province, Indonesia ]]>
<![CDATA[Endiarjati Dewandaru Sadono]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 11 No. 1 (2017) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v11i1.103
<![CDATA[Abstract. This study aims to measure technical efficiency and identify factors that affect technical inefficiency of Islamic rural banks (BPRS) in East Java Province, Indonesia. We also want to test whether BPRS operating in districts are more efficient than those operating in cities. Data that we use are unbalanced panel data from 2011 until 2016 using stochastic frontier analysis. This study has successfully identified that the technical efficiency of BPRS operation is 90.12 percent. It means that there is still about 9.88 percent that can be optimized to improve their performance. Factors that cause technical inefficiency are Capital Adequacy Ratio (CAR) and Net Performing Financing (NPF). To improve technical efficiency of BPRS operations, the effort that must be made is to ensure each BPRS has sufficient capital stock to be channeled into loans. In addition, BPRS should also ensure the risks of bad loans are minimum.]]>
<![CDATA[Analisis Konsumen Berpindah Merek (BrandSwitcher) Pada Bank Syariah Dan Bank Konvensional (Studi Kasus Pada Nasabah Di Wilayah Darmaga Bogor) ]]>
<![CDATA[Mukhamad Najib]]>
<![CDATA[ Tazkia Islamic Finance and Business Review Vol. 4 No. 1 (2009) ]]>
Publisher : <![CDATA[Institute for Research and Community Empowerment (LPPM TAZKIA) ]]>
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DOI: 10.30993/tifbr.v4i1.25
<![CDATA[Dalam situasi hypercompetition seperti saat ini, dimana konsumen dibanjiri oleh berbagai alternatif produk yang menarik, perubahan perilaku membeli akan mempermudah konsumen berpindah ke produk atau merek lainnya. Hal ini dapat terjadi pada nasabah bank di Indonesia. Munculnya perbankan syariah dengan pertumbuhan yang begitu cepat merupakan fenomena yang menggambarkan terjadinya perpindahan merek pada konsumen, dalam hal ini nasabah bank Penelitian dilakukan untuk menganalisis prilaku perpindahan merek pada nasabah bank di wilayah Darmaga. Pengambilan data primer melalui pengambilan sampel dilakukan secara purposive. Sementara analisa dilakukan secara deskriptif. Di wilayah demaga ada empat buah bank umum, yaitu Bank Negara Indonesia (BNI)46, Bank Rakyat Indonesia (BRI), Bank Muammalat Indonesia (BMI) dan Bank Syariah Mandiri. Hasil penelitian menunjukkan BNI46 merupakan bank yang memiliki brand awareness paling tinggi diantara bank yang ada di Darmaga. Konsumen berpindah merek tidak hanya terjadi pada bank konvensional, tetapi juga bank syariah. Hal ini berarti bank syariah maupun bank konvensional berpotensi memiliki pelanggan yang tidak loyal. BNI46 memiliki konsumen yang paling tidak loyal bila dibanding dengan BRI, BSM dan BMI. Jika dibandingkan sesama bank syariah, maka BMI memiliki konsumen yang paling loyal. Faktor yang memiliki pengaruh paling tinggi terhadap konsumen dalam melakukan perpindahan merek adalah factor internal dan diiukti oleh faktor eksternal. Sementara faktor kekecewaan terhadap bank sebelumnya merupakan faktor yang paling kecil pengaruhnya terhadap konsumen dalam melakukan perpindahan merek.Keywords: Brand Awareness, Perpindahan Merek, Loyalitas]]>
