AFEBI Islamic Finance and Economic Review
AFEBI Islamic Finance And Economic Review (AIFER) is an academic journal which is published twice a year (June and December) by The Association of The Faculty of Economics and Business Indonesia. AIFER is aimed as an outlet for theoretical and empirical research in the field of Islamic Finance and Economics and to disseminate the information of the Islamic Finance and Economics research was conducted by members of AFEBI in particular and researchers in general to the academics, practitioners, students, and others who interested in Islamic Finance and Economics research.
Articles
80 Documents
<![CDATA[Analysis of Zakat and Tax Policies During the COVID-19 Pandemic ]]>
<![CDATA[Nuzulia Nuzulia]]>;
<![CDATA[Muhamad Nafik H Ryandhono]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 6, No 01 (2021) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v6i01.354
<![CDATA[The relationship between zakat and tax dates back to the early days of the development of Islam. Zakat is one of the pillars of Islam whose obligation is absolute upon one's assets according to certain rules that have been regulated in the Al Quran and Hadith. Meanwhile, taxes are contributions issued by the public to be deposited with the government as state treasury, which is allocated to meet state expenditures. Since Covid-19 was declared a pandemic, Indonesia has been affected by the Covid-19 virus. Impact arising from various sectors such as health, education, socio-culture and economy. Various policies issued by the government to cut the spread of the Covid-19 virus, such as social distancing, studying or working from home and PSBB. Other than that, the government issued policies to restore the economy such as zakat and tax policies. This research was conducted to map and analyze zakat and tax policies issued by the government in order to reduce the economic impact of the Covid-19 pandemic. The research used a qualitative method with a descriptive approach obtained by studying the literature. The results of the study state that Indonesia has issued policies to help people affected by Covid-19 through zakat and tax policies. The research used a qualitative method with a descriptive approach obtained by studying the literature. The results of the study state that Indonesia has issued policies to help people affected by Covid-19 through zakat and tax policies. The research used a qualitative method with a descriptive approach obtained by studying the literature. The results of the study state that Indonesia has issued policies to help people affected by Covid-19 through zakat and tax policies.Keywords :Zakat, Tax, Policy, Impact, Pandemic]]>
<![CDATA[Sharia Mutual Fund Performance, Foreign Ownership and Investment Ability ]]>
<![CDATA[Siti Saudah]]>;
<![CDATA[Musdalifah Azis]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 4, No 02 (2019) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v4i02.462
<![CDATA[This study aims to analyze sharia mutual fund performance approaches from the effect of Foreign Ownership and Investment Ability. This research was conducted at equity mutual fund companies listed in Financial Services Ototitas (OJK) for the period 2018-2019. This study used purposive sampling with a total sample of 33 equity mutual funds. The type of data used is quantitative data and the data source is in the form of company annual financial reports. The data analysis tools used were descriptive statistics and panel data regression. The results of this study indicate that Foreign Ownership has a not significant effect on and Investment Ability has a positive and insignificant effect on Mutual Fund Performance.]]>
<![CDATA[The State as a Market Supervisor in Islamic Perspective ]]>
<![CDATA[Muhammad Fathrul Quddus]]>;
<![CDATA[Tika Widiastuti]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 4, No 02 (2019) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v4i02.359
<![CDATA[Market participants can take various methods, ranging from acceptable practices to fraudulent methods. The State is expected to take on the role of the market supervisor so that both sellers and buyers can feel justice. The State has the right to regulate the course of the economy but with limits that are not detrimental to market players. In Islam, the market is controlled so that competition is carried out voluntarily. There must not be a party that is harmful to the party that is injured. This study aims to determine the role of the State as a market supervisor from an Islamic perspective. This study uses a descriptive method with a qualitative research approach. The data collection technique in this research is literature search from journals, books, electronic books, articles, and other information media related to the State's role in market supervision. The market supervisor in Islam is known as Al-Hisbah. The main task of al-hisbah is to invite the truth and forbid Munkar. In addition, Al Hisbah has three main functions, namely economic, social and moral functions. In contemporary times the position of al-hisbah can be a complementary role for a ministry or state agency.]]>
<![CDATA[Good Corporate Governance Model in Indonesian Islamic Banking ]]>
<![CDATA[Zulfikri Charis Darmawan]]>;
<![CDATA[Sri Herianingrum]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 5, No 02 (2020) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v5i02.373
<![CDATA[This study aims to examine the concept and implementation of Good Corporate Governance in Islamic banking in Indonesia. This research is a field research which is sharpened by the literature. This research is descriptive in nature, seeks to examine GCG policies and find ideas to strengthen regulations in compliance with sharia aspects and describes the implementation of GCG in Islamic banking in Indonesia. The method used in data analysis is a qualitative method, namely by presenting it in the form of descriptions and concepts. The performance of Islamic bank management, namely the implementation of GCG consisting of Transparency (Openness), Accountability, Responsibility, Professionalism, Independence, and Fairness, as well as being committed to Sharia Compliance, However, the author only focuses on Sharia Compliance. Then the assessment is carried out periodically and continuously and efforts are made so that it can be carried out properly in accordance with applicable regulations. This research focuses more on the concept and implementation of GCG in Islamic banking.Keywords: Good Corporate Governance (GCG), Sharia Bank Management Performance, Sharia Compliance.]]>
<![CDATA[The Effect of Sukuk Structure and Sukuk Guarantee Status on Sukuk Rating in Indonesia Stock Exchange ]]>
<![CDATA[Kiran Salsabilah]]>;
<![CDATA[Abdul Hamid Habbe]]>;
<![CDATA[Nirwana Nirwana]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 6, No 02 (2021) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v6i02.411
<![CDATA[This research aims to analyze the effect of sukuk structure and sukuk guarantee status on sukuk rating. The research was conducted based on companies in the financial sector and non-financial sector listed on the Indonesia Stock Exchange and included in the rating conducted by PT Pefindo for the period 2015-2019. A total of 65 samples were selected using purposive sampling method. The data source in this study is secondary data in the form of the company's annual financial statements. The data analysis methods used are ordinal logistic regression analysis The results showed that the sukuk structure has an opportunity to lower the sukuk rating, while the sukuk guarantee status has the opportunity to increase the sukuk rating. Then for simultaneous test results, sukuk structure and sukuk guarantee status have an effect on sukuk rating.]]>
<![CDATA[Health Sector Sharia Shares Reaction to The Events of The 2019 Corona Virus Disease Distribution ]]>
<![CDATA[Muhammad Irfan Yusuf]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 7, No 01 (2022) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v3i2.328
<![CDATA[The purpose of this study was to determine the reaction of ISSI-listed health stocks to Covid-19 which was divided into three events, namely the lockdown of the city of Wuhan, the announcement of the President of the Republic of Indonesia regarding the Covid-19 case, and the WHO announcement about the virus pandemic. This study uses a quantitative approach with the event study method. Market reaction is measured by the abnormal return variable and trading volume activity. Meanwhile, the Market model is used to find the expected return with a simple linear regression analysis technique, which is then carried out by the one-sample Kolmogorov Smirnov test for normality and one sample t-test for hypothesis testing. The results of the study found that the manufacturing and service sectors were not affected by the Wuhan lockdown. Because the indicators AAR, CAAR and ATVA do not show significant results. Meanwhile, the announcement of the President of the Republic of Indonesia regarding the Covid-19 case and the announcement of the WHO pandemic virus showed that there was an influence on the manufacturing sector and health services. Because the indicators AAR, CAAR and ATVA show significant results. The results of the study found that the manufacturing and service sectors were not affected by the Wuhan lockdown. Meanwhile, the announcement of the President of the Republic of Indonesia regarding the Covid-19 case and the announcement of the WHO pandemic virus showed that there was an influence on the manufacturing sector and health services.]]>
<![CDATA[Financial Exclusion in Northern Nigeria: A Lesson From the Developed Countries ]]>
<![CDATA[Tijjani Muhammad]]>;
<![CDATA[Besar Bin Ngah]]>;
<![CDATA[Al-Shaghdari Fahd Mohammed Obad]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 7, No 01 (2022) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v7i01.565
<![CDATA[The objective of this paper is to assess the causes of financial exclusion in northern Nigeria, including the reason and causes behind the accessibility to banking services at a competitive and affordable prices. The study adopted Confirmatory Factor Analysis under Structural Equation Modeling using vulnerable group theory (Religiosity and Poverty) and financial literacy theory (Awareness). In this study, the survey method was used, additionally, the stratified sampling technique is applied as it provides richness and accuracy of information from respondents from various stratums. The participants comprised senior, middle and lower classes for the study justification. The finding indicates the positive relationship between Vulnerable Group Theory and Financial Exclusion while Financial Literacy Theory has no relationship as indicated. Therefore, the vulnerability which is consists of Religiosity and Poverty drive as the major causes of Financial Exclusion in Nigeria. The research provided insights and developed a model that indicates the causes of financial exclusion and apparent barriers to better financial services and inclusion in the community and society. This study's originality shows that have not used such vulnerable group theory and financial literacy theory for justification.]]>
<![CDATA[Determinant Of Cash Holding From Listed Company In Jakarta Islamic Index ]]>
<![CDATA[Savilla Azzahra]]>;
<![CDATA[Puji Sucia Sukmaningrum]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 7, No 01 (2022) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v7i01.391
<![CDATA[Cash Holding has a crucial role in every firm. There is a lot of consideration why companies keep their cash on hand. These situations depend on motive of the firm and condition that they have faced. This study aims to determine the effect of leverage, liquidity, growth opportunity and firm size on firm cash holding. The sample of this study are listed firm from Jakarta Islamic Index (JII) from 2012-2019. The research method is quantitative, using Random Effect Model (REM). The number of observation reaches 80 data from listed firm in Jakarta Islamic Index during 2012-2019. Sources of data was provided in annual financial report from Indonesia Stock Exchange (IDX) or from official website. This study concludes that leverage and firm size has negative significant effect on cash holding while growth opportunity and liquidity have insignificant negative effect on firm cash holding.]]>
<![CDATA[Research Growth in Sharia Accounting and Finance in Indonesia ]]>
<![CDATA[Dini Dewindaru]]>;
<![CDATA[Ratna Kusumadewi]]>;
<![CDATA[Laili Latifah Puspitasari]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 7, No 01 (2022) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v7i01.458
<![CDATA[This study seeks to describe the development of research in Islamic accounting and finance in Indonesia. The in-depth study aims to understand the research topics of published articles and conference papers published in the period of 1997-2018. The results found in samples are grouped into four major research topics: concept, construction, pre-position, and performance assessment. The findings proved that conceptual topics dominated researches conducted in the period 1997-2013, while performance measurement was the dominant topic of the 2014-2018 study period. Based on these findings, it is concluded that research in the field of Islamic accounting and finance in Indonesia is still in the process of growth and development. In addition, this study also discovered a significant increase in the number of articles in the last two years, which indicates a growing and ascending trend in Islamic accounting and finance studies in Indonesia. The research mapping is expected to provide insights into various research topics that have been written and topics that still open for further research.]]>
<![CDATA[Sharia Compliance and Information Asymmetry for IPO In Bursa Indonesia ]]>
<![CDATA[Afira Rohmahtunisa]]>;
<![CDATA[Shoimatul Fitria]]>
<![CDATA[ AFEBI Islamic Finance and Economic Review Vol 7, No 01 (2022) ]]>
Publisher : <![CDATA[Asosiasi Fakultas Ekonomi dan Bisnis Indonesia ]]>
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DOI: 10.47312/aifer.v7i01.516
<![CDATA[This study aims to analyze the effect of shariah compliance status, and information asymmetry as a proxy for institutional ownership variables, and company size on excess demand in initial public offerings on the Indonesia Stock Exchange. This study uses 51 companies that conduct initial public offerings on the Indonesia Stock Exchange as research samples obtained through purposive sampling method. The research method used in this study is a quantitative method with secondary data. The analytical tool in this research is IBM SPSS version 28 using classical assumption detection in the form of normality detection, heteroscedasticity detection, autocorrelation detection, and multicollinearity detection. This study also used multiple regression analysis and hypothesis testing using t test, F test and coefficient of determination test. The results of this study show that shariah compliant status does not affect excess demand in initial public offerings, while for institutional ownership variables positively and significantly affects excess demand in initial public offerings and company size negatively and significantly affects excess demand in initial public offerings on the Stock Exchange Indonesia.]]>
