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Muqtasid: Jurnal Ekonomi dan Perbankan Syariah
Published by Institut Agama Islam Negeri Salatiga
ISSN : 20877013     EISSN : 25278304     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah (Muqtasid), with registered number ISSN 2087-7013 (Print) and ISSN 2527-8304 (Online), is a peer-reviewed journal published two times a year (January-June, and July-December) by Faculty of Islamic Economics and Business, IAIN Salatiga. Muqtasid is intended to be the journal for publishing articles reporting the results of research on Islamic Economics and Banking.
Arjuna Subject : -
Articles 185 Documents
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COVID-19 and Its Impact on Islamic Equity Mutual Funds in Indonesia Nofrianto Nofrianto; Aprila Yutegi
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 13, No 2 (2022): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v13i2.160-177

Abstract

The Islamic equity mutual funds, initially exhibiting a relatively high average interest, experienced a significant decline in Net Asset Value (NAV) in 2020 - 2021 due to the COVID- 19 pandemic. Therefore, this study analyzed the impact of the COVID-19 pandemic on the NAV of Islamic equity mutual funds and the influence of macro and micro factors, such as inflation, exchange rate, Jakarta Islamic Index (JII) trading volume, and age of mutual funds. Data were collected from a sample of 11 companies registered with the Financial Services Authority from 2014 to 2021, using the purposive sampling technique to achieve this objective. Subsequently, the data collected were analyzed using the Panel Data Regression Method, and the Wilcoxon Signed Ranked Test. The results showed that the pandemic delayed economic activity, decreasing returns on sharia investment instruments, such as the NAV of Islamic equity mutual funds. JII, trading volume, and fund age were negatively affected compared to mutual inflation and exchange rate. This study provides information that regulators can use in formulating appropriate policies to minimize the adverse effects of Covid-19 on Islamic equity mutual funds, specifically in macroeconomic policies. Likewise, investment managers can consider internal factors when positioning Islamic equity mutual funds in the NAV
Financial Performance of Bank Syariah Indonesia (BSI) Before and After Merger Bambang Iswanto; Siti Alawiyah; Kokom Komariah; Idhafiyyah Anwar
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 13, No 2 (2022): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v13i2.178-193

Abstract

As mergers can play a crucial role in enabling sharia banks to withstand intense competition, assessing their financial performance before and after a merger can provide valuable insights.. Therefore, this study analyzes the financial performance before and after the merger at Bank Syariah Indonesia. In analyzing the data, the comparative descriptive method was used by comparing the financial statements and the Good Corporate Governance report of Bank Syariah Indonesia for one year. The Risk-Based Bank Rating (RBBR) method, which includes four assessment factors, namely Risk Profile, Good Corporate Governance, Earning, and Capital (RGEC), was applied to assess the performance of the bank using NPF, FDR, GCG, ROA, ROE, NIM, BOPO, and CAR ratios. The data analysis used descriptive statistics, Shapiro-Wilk, and Wilcoxon Signed Rank Tests. Based on the analysis, the percentage difference in the BOPO and NIM ratios was the largest and lowest, which were 6.16% and 0.08%. Furthermore, there was a significant difference in the financial performance of Bank Syariah Indonesia before and after the merger, which became increasingly healthy. This study has implications for bank assessment policies, as it highlights the need to consider various factors to assess the output scale produced in the bank.
Non-linear Effect of Islamic Banks' Liquidity Risk to Financial Stability; Evidence from the Indonesian Banking Industry Fakhrunnas, Faaza
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 14, No 1 (2023): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v14i1.1-15

Abstract

Liquidity risk is a pivotal aspect that determines the soundness of financial performance in the banking system. Therefore, the study aims to examine the influence of Islamic banks' liquidity risk on banking stability. Using time series data ranging from 2004m1 to 2022m8, the study adopts a non-linear autoregressive distributed lag (NARDL) approach to examine the influence of liquidity risk on financial stability in the Indonesian banking sectors. The result of the study reveals that it has a non-linear and asymmetric relationship between liquidity risk and financial stability in the banking system. In the short run, an additional increase/decrease in the change of liquidity risk negatively affects financial stability. In addition, the long-run relationship shows that only an additional increase in change has a negative and significant relationship to financial stability. The COVID-19 pandemic also becomes a significant determinant that affects financial stability in the long-run relationship. The findings of the study imply that the Indonesian financial authorities should set suitable regulations to mitigate and address the issue of Islamic banks' liquidity risk, particularly in anticipating its non-linear and asymmetric impact on financial stability.
Exploring Satisfaction as a Mediator and Moderator of Customer Loyalty in Islamic Banking Sulistyandari, Sulistyandari; Kusumah, Alum
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 14, No 1 (2023): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v14i1.16-34

Abstract

This study was conducted to analyze the drivers of loyalty within the context of Islamic banking. Service quality, trust, and satisfaction were examined as exogenous variables influencing loyalty. Furthermore, this study adopted a comprehensive approach by investigating the role of satisfaction as a moderator and mediator in this relationship. The results showed that the exogenous variables significantly impacted loyalty and satisfaction, as well as moderated and mediated the links between service quality, trust, and loyalty. The implications were substantial, particularly for Islamic banks and regulatory authorities. To effectively retain customers in the face of competition, banks prioritized initiatives aimed at enhancing service quality, fostering trust, and monitoring customer satisfaction. Additionally, regulatory bodies contributed by formulating supportive policies and programs that encouraged these practices. The study also challenged conventional perspectives by conducting a thorough analysis of the multifaceted roles played by customer satisfaction, contributing to a framework for optimizing loyalty through quality and trust. Future analysis could build on the insights generated, analyzing the dynamics of customer relationships within the Islamic banking sector. This timely study elucidated pathways for sustaining the growth of Islamic banking.
Effect of CASA, Fee-Based Income, and Intellectual Capital Towards Profitability of Islamic Banking in Indonesia Fitri, Resfa; Nuraini, Della
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 14, No 1 (2023): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v14i1.35-50

Abstract

The increase in value of the Current Account Saving Account (CASA) and fee-based income (FBI) in Islamic banking industry is indicative of the optimal use of intellectual capital. This increase in the value of CASA and FBI does not enhance Islamic banking profitability in Indonesia. Therefore, this study aimed to measure and analyze the influence of CASA, FBI, and intellectual capital on profitability of Islamic banks. The populations of this study are all commercial Islamic banks from 2017 to 2020, from which a sample of 13 was selected using the purposive sampling method. Secondary data were collected from quarterly reports of the financial statements of the 13 Islamic banks from 2017 to 2020. This study adopted the panel data regression with a value-added method for the variable intellectual capital (VAIC). The results showed that CASA and intellectual capital had a significant positive effect on Islamic banking profitability, while FBI had no significant effect. It was recommended that in order to enhance banking profitability, the management of Islamic banks needed to improve CASAand intellectual capital by increasing the quantity of CASA funding and optimizing intellectual capital from human resources and technology.
Back Matter Vol. 14 No. 1 Setyoko, Bimo Haryo
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 14, No 1 (2023): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v14i1.%p

Abstract

Mergers and Acquisitions in Islamic Banking In Indonesia: A Study on BSI and Bank Victoria Syariah Ahmad, Habibi Zaman Riawan
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 14, No 2 (2023): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v14i2.185-205

Abstract

Mergers and acquisitions (MA) in Islamic banking in Indonesia can be viewed from the strategic interests of each bank. This research aims to examine the patterns of MA in Bank Syariah Indonesia (BSI) and Bank Victoria Syariah in Indonesia. It also discusses the positive and negative implications of the MA of these two banks, as seen in the developments before and after the MA. This research employs BOCR (Benefit, Opportunity, Cost, and Risk) analysis to assess the extent to which MA patterns occur in the merger outcomes at BSI. It also utilizes CAMEL (Capital Asset Earnings and Liquidity) analysis to evaluate the post-acquisition banking health at Bank Victoria Syariah. The research descriptively explains the MA conditions in these two Islamic banks in Indonesia and the impact of MA on the banks, employees, customers, and the general public. The study results indicate that themerger of three state-owned Islamic banking companies, namely Bank Syariah Mandiri, BRI Syariah, and BNI Syariah, into BSI was carried out not only to expand the market share of Islamic banking but also due to cost considerations. At the same time, the acquisition of Bank Victoria Syariah was made due to capital needs as required by the regulator.
Determinant of Qard: Evidence from Indonesian Islamic Rural Banks Fitriyani, Yeny; Lidasan, Mussollini Sinsuat
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 14, No 2 (2023): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v14i2.93-114

Abstract

This study was conducted to offer an assessment of the qard factors, concerning Indonesian Islamic Rural Banks. To conduct this analysis, data from Indonesian Rural Banks and macroeconomic panels were used. In addition, an approximated generalized method of the moment was also used to report qard determinants from 2012-2022. The results showed that Return on Assets (ROA), Bank Operational Costs to Operating Income (BOPO), and inflation negatively impacted the distribution of qard, while Non-Performing Financing (NPF) variable indicated a positive and significant impact. Valuable recommendations were formulated by comprehending the interplay between profitability ratios and macroeconomic conditions. These recommendations informed the development of products within the context of BPRS and Sharia banking, contributing to rural economic growth through qard financing. This study developed BPRS and Sharia banking products to increase rural economic growth. Qard financing served as an essential resource for individuals who did not meet the eligibility criteria of conventional banks. The adoption and expansion also promoted financial inclusion for marginalized communities.
Global Economic Policy Uncertainty and Islamic Stock Market in Indonesia Mashilal, Mashilal; Amalia, Farah; Visita, Luksi
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 14, No 2 (2023): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v14i2.115-132

Abstract

The investigation of economic policy uncertainty (EPU) was necessary during financial and trade integration between countries. In this context, there was a spillover effect of global economic policy protections impacting stock markets. Therefore, this research aimed to determine the effect of global policy proxied by the United States, China, and Japan on Islamic stock market in Indonesia. Macroeconomic indicators were also included in the research model and the time series data was obtained from January 2015 to December 2022. In addition, Vector Error Correction Model (VECM) was used as an analytical method in the model. The results showed that Islamic stocks responded positively to global economic policy, exchange rates, and exports to stock index, while inflation reported a negative response.
Examining The Role of Bank Interest Haram Fatwa on Factors Influencing Customer Desires Mochlasin, Mochlasin
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 14, No 1 (2023): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : UIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18326/muqtasid.v14i1.51-68

Abstract

This research tries to explain the actual use of customers in the context of sharia banking in DIY. Specifically, this research aims to examine the role of fatwa knowledge in moderating the relationship between customer satisfaction, customer trust, and religious motives with behavioral intentions. A survey was conducted to collect data, resulting in 300 complete usable responses. Moderated Regression Analysis (MRA) was used to test the research hypothesis. The findings of this research reveal that customer trust and religious motives influence behavioral intentions, while customer satisfaction and fatwa knowledge have no influence. However, knowledge about the fatwa issued by the MUI was found to mediate the influence of customer satisfaction on behavioral intentions but did not mediate customer trust and religious motives on behavioral intentions. Additionally, behavioral intentions were found to influence actual usage by customers. Ultimately, this research provides valuable insights for practitioners and policy makers in the sharia banking industry to create actual utilization and increase customer literacy regarding fatwas in sharia banking.

Page 18 of 19 | Total Record : 185

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