al-Uqud : Journal of Islamic Economics
al-Uqûd : Journal of Islamic Economics published by the Islamic Economic Studies Department of Economics Faculty of Economics, Universitas Negeri Surabaya in cooperation with the Forum of Economic and Business Lecturer Islam (FORDEBI). al-Uqûd published twice a year, in January and July. The journal will focus on providing quality research in the areas of Islamic economics, banking and finance. The goal of the journal is to cover topics that are paramount in modern Islamic economics and finance. The language used in the form of Indonesian and English. Editors invite research lecturers, the reviewer, practitioners, industry, and observers to contribute to this journal.
Articles
205 Documents
<![CDATA[Source of Funds and Islamic Insurance Growth: Investment Returns as a Mediation ]]>
<![CDATA[Dhidhin Noer Ady Rahmanto]]>;
<![CDATA[Muhammad Iqbal Fasa]]>;
<![CDATA[Khoirul Rijal]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 4 No. 1 (2020): January ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v4n1.p104-114
<![CDATA[Sustainable growth must be maintained by maintaining an increase in investment returns, with the source of funds as a stimulant. The population of this study was all Islamic life insurance companies in Indonesia. The study used path analysis mediation with regression or two layers OLS (Ordinary Least Squares) and followed by Sobel test. The result showed that investment returns can mediate participant funds in influencing the growth of Islamic life insurance companies. Meanwhile, investment returns did not mediate the influence of company funds in influencing the growth of Islamic life insurance companies.]]>
<![CDATA[TECHNICAL EFFICIENCY LEVEL OF ISLAMIC BANK IN INDONESIA ]]>
<![CDATA[Alfu Laila Fiafifah]]>;
<![CDATA[Darwanto Darwanto]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 3 No. 2 (2019): July ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v3n2.p114-132
<![CDATA[One of the common measurements used to evaluate a companys performance is the efficiency performance which indicates a companys efficiency score in utilizing inputs to produce outputs. This study aims to evaluate the performance of state-owned Indonesian Islamic banks by measuring their technical efficiency along with the determinant factors of their efficiency over the period 2014-2017. In this study, DEA, a non-parametric technique method, is employed to measure the efficiency of four state-owned Indonesia Islamic banks. Another method, Tobit-regression, is used to identify the determinant factors of their efficiency. Four state-owned Indonesian Islamic banks are chosen as the object of this study, namely Bank Syariah Mandiri, BNI Syariah , Bank Rakyat Indonesia Syariah, and BTN Syariah. The results of calculation using DEA methos show that the average efficiency level of all state-owned Indonesian Islamic banks over four consecutive yerars is 100%. It means that all the state-owned Indonesian Islamic banks operating in Indonesia have been able to optimize all their resources and are considered efficient over the period 2014-2017. Tobit-regression model results show that bank size, capitalization, and profitability significantly affect all state-owned Islamic banks efficiency, while bank expenses do not have a significant effect on their efficiency.]]>
<![CDATA[PATRONAGE OF ISLAMIC AND CONVENTIONAL BANKS: THE CASE OF SYRIA ]]>
<![CDATA[Khaled Nour Aldeen]]>;
<![CDATA[Syed Alamdar Ali Shah]]>;
<![CDATA[Sri Herianingrum]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 3 No. 2 (2019): July ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v3n2.p98-113
<![CDATA[The aim of this study is to understand perception of conventional banks customers towards Islamic banking by examining their level of awareness about Islamic banking. The qualitative approach was used in the form of semi-structured interviews under the phenomenological approach in Damascus city. The main findings of this research are customers lack awareness of Islamic banking operations. Furthermore, Islamic banks stuff play a crucial rule to enhance awareness and willingness towards their services. This study revealed that an informative advertising campaign is highly recommended to raise the awareness level among Syrians towards Islamic banking. Moreover, Islamic banks should be more selective especially when they recruit customer service operation staff. This research is a pioneering attempt towards Islamic banking issues in the case of Syria from a customer perspective. It contributes to the Syrian perceptions towards Islamic banking literature.]]>
<![CDATA[Determinants of Customer Preference to Save in Islamic Bank ]]>
<![CDATA[Tia Afriani]]>;
<![CDATA[Nadia Asandimitra]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 4 No. 1 (2020): January ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v4n1.p1-17
<![CDATA[The widespread use of sharia products and instruments encourages society to save funds in sharia banks. The main purpose of this research is to test the effect of financial literacy, profit sharing, knowledge of customers, gender, age, education, income to saving decisions. The type of research is quantitative research by using a non-probability sampling method with snowball sampling and purposive sampling technique to get a sample of 230 respondents. The object of this research was sharia bank's customers in Surabaya. The data obtained by spreading the questionnaire online and offline contains 41 items of statement and question. The data analysis technique is multiple linear regression that calculated by software package used for the analysis of statistical data. The result found that financial literacys of customer has medium effect about 72.1% to their saving decision. The higher level of customers financial literacy increases their ability to manage finance and saving. Meanwhile, profit-sharing has an effect to saving decision, as the higher level of profit sharing will raise societys interest for saving in sharia bank. Otherwise, customer knowledge and demographic factors (gender, age, education and income) have no effect to their saving decision. ]]>
<![CDATA[Productivity Comparation of Islamic and Conventional Banks in Indonesia ]]>
<![CDATA[Marhanum Che Mohd Salleh]]>;
<![CDATA[Lina Nugraha Rani]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 4 No. 1 (2020): January ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v4n1.p69-82
<![CDATA[This study aimed to compare the productivity performance of Islamic and Conventional Banks in Indonesia with the Total Factor Productivity Index (TFPCH) indicator. The sample of this study was 14 banks consisting of 7 Islamic Banks and 7 Conventional Banks from 2011-2018. Secondary data were obtained from the annual financial statements of each sample. To measure the total factor productivity index (TFPCH), the Malmquist Productivity Index (MPI) was used as a measure of productivity. It found that the productivity of Conventional Banks was slightly superior compared to Islamic Banks, with contributions from Technical / Technological Change (TECHCH) being the most influential component in the TFPCH composition. Further, there was an indication of a technical increase in both types of banks during the period. The results of this study implied banking industry players to increase their efficiency particularly the usage of technology in providing efficient services to users.]]>
<![CDATA[How Islamic Bank Managing Risk? An Emphasis on Anticipating Financial Crisis ]]>
<![CDATA[Sebastiana Viphindrartin]]>;
<![CDATA[Zainuri Zainuri]]>;
<![CDATA[Muhammad Zilmi Anugrah]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 4 No. 2 (2020): July ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v4n2.p208-217
<![CDATA[The global economic crisis in 2008 shocked and pressured Indonesian macroeconomic and financial system stability. The decline in macroeconomic stability has an impact on banking policy in lending. Most banks in the world respond to the crisis by doing credit rationing, but how about Islamic bank response toward this condition in Indonesia? Therefore, this study aims to examine the effect of Capital Adequacy Ratio (CAR) and macroeconomic variables on the amount of Islamic banking financing in Indonesia. The method used in this study is the SVAR (Structural Vector Auto Regression) analysis method. The results showed that inflation, capital, and CAR variables had a significant effect on Islamic banks financing amount. In contrast, GDP had no significant impact on Islamic banks financing amount which means that Islamic banking in Indonesia was not implemented pro-cyclical based lending policy.]]>
<![CDATA[What Attracts Guest to Stay? Brand Identity, Religiosity, and Reference Group towards Decision to Choose Sharia Hotel ]]>
<![CDATA[Winka Alfi Jayanti]]>;
<![CDATA[Sri Setyo Iriani]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 4 No. 1 (2020): January ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v4n1.p32-47
<![CDATA[Indonesia has one of largest Muslim population in the world. Therefore, currently it is not surprising that Sharia Branding is currently widely used by business entities ranging from banking to the hospitality business. This phenomenon is observed in the city of Surabaya in which Sharia hotels are mostly found such as the Namira Syariah Hotel. Nevertheless, the growth in the number of consumers who stay in Syariah hotels is not as much as conventional hotels. Therefore, the purpose of this research is to (1) to analyze the effect brand identity on the decision of consumers to stay at the Hotel Namira Syariah Surabaya, (2) to analyze the effect the consumer religiosity on consumers decision to stay at the Hotel Namira Syariah Surabaya, (3) to analyze the effect of the reference group to the decision to stay at the Hotel Namira Syariah Surabaya. This type of research uses a causal research approach. The population in this research is infinite but have ever stayed at the Hotel Namira Syariah Surabaya only but to all Muslim who at least 17 years old. The sample collection technique used is non-probability sampling with the number of samples is 210 respondents. The research instrument used a questionnaire, while data analysis used multiple linear regression analysis. From the results of the discussion and analysis of the data, it can be concluded that there is a positive influence of brand identity, religiosity and reference groups on the decision to stay at the sharia hotel.]]>
<![CDATA[Islamic Economic Students Knowledge and Attitude Toward Halal Pharmacy Product in East Java, Indonesia ]]>
<![CDATA[Sylva Alif Rusmita]]>;
<![CDATA[Muhamad Nafik Hadi Ryandono]]>;
<![CDATA[Dian Filianti]]>;
<![CDATA[Marhanum Che Mohd Salleh]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 5 No. 1 (2021): January ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v5n1.p1-15
<![CDATA[A Muslim has a limitation in consuming or wearing something. A Muslim is only permitted to consume something halal, either in food, drink, clothes, even finance. In the pharmaceutical industry, the standard of Halal Pharmaceutical is the most crucial document that should be followed to standardize the quality and the safety of halal. This research will analyze the knowledge and attitude of Islamic economics students who have the basic knowledge about halal and analyze how their attitude to the halal pharmacy. The research method is qualitative, with a literature review and descriptive analysis data from the questioner. Information on the label will influence the choices before buying and or consuming the medicine on the customer site. Consumers prefer to choose medicine with a halal label so that it will also benefit industries that have halal labels. But, in halal pharmacy, customers still hard to applied halal things in medicine; even though customers understand about halal, customers' attitude does not imply the principle of halal in the medicine.]]>
<![CDATA[The Role of Religiosity and Spirituality on Impulsive Buying ]]>
<![CDATA[Wiwik Maryati]]>;
<![CDATA[Sri Hartini]]>;
<![CDATA[Gancar Candra Premananto]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 5 No. 1 (2021): January ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v5n1.p119-150
<![CDATA[This article aims to analyze religiosity and spirituality's roles to prevent the impulsivity of buying. Impulse buying is an irrational, unplanned, spontaneous buying behavior aimed to seek pleasure and emotional fulfillment. The research method is a literature study of journals related to religiosity and spirituality in customer decision making. The study results concluded that several factors cause impulsive buying, such as less self-control, hedonic lifestyle, and materialism. Furthermore, there are significant roles of religiosity and spirituality in encouraging robust self-regulation to prevent impulse buying. The higher a person's religiosity and spirituality, the better they build powerful self-control for impulse buying. This research is expected to contribute research in consumer behavior with an approach of religiosity and spirituality. ]]>
<![CDATA[Cash Waqf for Developing Islamic Economy: Case Study in Indonesia ]]>
<![CDATA[Aam Slamet Rusydiana]]>;
<![CDATA[Yayat Hidayat]]>;
<![CDATA[Tika Widiastuti]]>;
<![CDATA[Solihah Sari Rahayu]]>
<![CDATA[ al-Uqud : Journal of Islamic Economics Vol. 5 No. 1 (2021): January ]]>
Publisher : <![CDATA[Universitas Negeri Surabaya ]]>
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DOI: 10.26740/al-uqud.v5n1.p43-59
<![CDATA[This study attempts to identify the causes and dominant factors that hinder the development of cash waqf in Indonesia, using the IFE-EFE Matrix and SWOT methods, while offering solutions to solve it. Based on the results of IFE analysis, the highest-rank of strengths is the ability of cash waqf in expanding the base of waqf fund sources followed by the ease and zero cost of funds. In comparison, the top weaknesses are the lack of socialisation to the community and the lack of professional nazhir human resources. The results of EFE analysis imply the highest-rank opportunity is the potential of unlimited cash waqf followed by the emergence of many sharia financial institutions and Islamic economics study programs in universities. Meanwhile, the top threat is a weak political will of authorities, followed by the majority of traditional nazhir. It is expected that there will be a joint commitment from various parties, both from policymakers and academics and practitioners to support and encourage efforts to develop the Islamic (social) finance industry, especially in developing cash waqf in Indonesia.]]>
