cover
Article Per Year (5 Year)
All
Home Page
OAI Link
Editorial Team
Contact
Reviewer
Google Scholar
Contact Name
ali sakti
Contact Email
journal.jimf@gmail.com
Phone
-
Journal Mail Official
journal.jimf@gmail.com
Editorial Address
-
Location
Kota adm. jakarta pusat,
Dki jakarta
INDONESIA
Journal of Islamic Monetary Economics and Finance
Published by Bank Indonesia
ISSN : 24606146     EISSN : 24606618     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
JIMF is an international peer-reviewed and scientific journal which is published quarterly by Bank Indonesia Institute. JIMF is a type of scientific journal (e-journal) in Islamic economics, monetary, and finance. By involving a large research communiy in an innovative public peer-review process, JIMF aims to provide fast access to high quality papers and continual platform for sharing studies of academicians, researchers, and practitioners; disseminate knowledge and research in various fields of Islamic economics, Monetary and Finance; encourage and foster research in the area of Islamic Economics, Monetary, and Finance; and bridge the gap between theory and practice in the area Islamic Economics, Monetary and Finance.
Arjuna Subject : -
Articles 10 Documents
 1 
Search results for , issue "Vol 6 No 1 (2020)" : 10 Documents clear
DO SOCIO-DEMOGRAPHIC CHARACTERISTICS AND FINANCIAL LITERACY MATTER FOR SELECTING ISLAMIC FINANCIAL PRODUCTS? Salma Fadhilah Widityani; Taufik Faturohman; Raden Aswin Rahadi; Yulianti Yulianti
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1057

Abstract

Indonesia is a promising market for the Islamic finance industry since most of the population is Muslim. However, the growth of Islamic finance in Indonesia is still low. Therefore, Islamic financial literacy needs to be improved in order to grow the Islamic finance industry significantly. The purpose of this study is to determine the factors that enhance Islamic financial literacy among college students in Indonesia. The development of validated constructs for Islamic financial literacy is important because conventional financial literacy might contain some elements that are not compatible with Islamic financial principles. This study also measures the level of Islamic financial literacy and its relationship with socio-demographic characteristics using multilinear regression. Furthermore, the relationship between Islamic financial literacy and the possession of Islamic financial products is observed by logistic regression. The determinant factors are perception, attitude and behaviour, and knowledge. The study found that type of educational institution, Islamic finance course experience, being educated to Master’s degree level, having one’s own income, and having an income above five million have a significant relationship with the Islamic financial literacy of college students. The factors that have a significant relationship with the possession of Islamic financial products are Islamic financial literacy, choice of major, Islamic finance course experience, and monthly income above five million. This research attempts to provide an Islamic financial literacy measurement through exploratory factor analysis. The development of a validated instrument for an Islamic financial literacy index and its determinant factors is our scientific and practical contribution to the literature on Islamic financial literacy in Indonesia.
ISLAMIC BANKING EFFICIENCY AND INCLUSIVE SUSTAINABLE GROWTH: THE ROLE OF FINANCIAL INCLUSION Hasanul Banna; Md Rabiul Alam
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1089

Abstract

This paper aims to estimate the efficiency scores of 153 Islamic banks of 32 countries during the period 2011 to 2017 by deploying data envelopment analysis and Simar–Wilson double bootstrapping regression techniques to determine how financial inclusion and its interaction effect with GDP growth impact on Islamic banking efficiency to promote inclusive sustainable growth. The findings show that the efficiency trends of Islamic banks in most countries have been inconsistent in the aftermath of the global financial crisis; this indicates that the banking industry is still bearing the consequences of that recession. However, Islamic banks in Bangladesh, Malaysia, Mauritia, Qatar, Tunisia, and Sudan are performing efficiently and, in spite of being war-affected countries, Islamic banks in Iraq and Palestine, more interestingly, have also seen an ascending trend in terms of improving their efficiency levels. The results foreground that to improve Islamic banks’ efficiency, financial inclusion (FI) must play a key role. Moreover, the effect of the interaction between FI and GDP growth suggests that FI plays a significant role in sustainable development, which creates a positive relationship between inclusive sustainable growth and the efficiency of Islamic banks. Since research on FI is an ongoing process, this paper contributes to the existing literature and methodology pertinent to the subject by analysing both non-bias and bias-corrected efficiency through the utilisation of more recent data from Islamic banks.
SECTORAL ANALYSIS ON THE IMPACT OF ISLAMIC BANKS ON THE MALAYSIAN ECONOMY Imam Wahyudi Indrawan; Maya Puspa Rahman
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1119

Abstract

Malaysia is a well-known Islamic finance hub with a growth trend in its Islamic financial assets. The growth of the Malaysian economy since independence has also been commendable, with a rising contribution from Islamic banking and finance. This study offers a different perspective by undertaking a sectoral analysis on the impact of Islamic banks in Malaysia. It aims to fill the gap in the literature by investigating how Islamic bank financing (IBF) affects economic growth in Malaysia, both overall and at the sectoral level. Three sectors are observed in this study: agriculture, industry and services. Both long-run and short-run analyses are undertaken for the data period 2007Q1 to 2018Q4. The Autoregressive Distributed Lag (ARDL) method is utilised where IBF is found to significantly and positively affect the economic growth of Malaysia, at the overall and sectoral level. Nonetheless, there is a negative relationship in the agriculture sector and no cointegration in the industry sector. The results of this study are expected to provide insights for policymakers in encouraging more optimal Islamic financing to economic sectors in Malaysia.
SHORT-TERM OVERREACTION OF ISLAMIC STOCKS TO SPECIFIC EVENTS IN INDONESIA Sofina Mujadiddah; Noer Azam Achsani; Mohammad Iqbal Irfany
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1121

Abstract

Overreaction is a phenomenon caused by stock market inefficiencies and also a reaction to certain events. Das and Krishnakumar (2016) explain that some overreaction phenomena violate the theory of capital market efficiency. As experienced by other stocks , Islamic stocks also probably experience market inefficiencies. This study aims to analyse the phenomenon of overreaction in Islamic stocks, as well as the factors that influence the phenomenon, by using a two-stage testing method: two paired sampling and cross-sectional regression. Two specific events which occurred in 2016-2018, and which were followed by price reversal and return reversal, are studied. The results show that the election of Donald Trump as US President (Event 1) and the bombings in Surabaya (Event 2) were significant in the overreaction in the winner stock category. The factors that influenced the two events were different. The overreaction to Trump’s election proved to be significantly influenced by information leakage, while the bombings in Surabaya significantly affected the company ownership category . The results indicate that Islamic stocks continue to have several transactions which are prohibited by the DSN MUI fatwa in the short term.
PRODUCTIVITY AND ITS DETERMINANTS IN ISLAMIC BANKS: EVIDENCE FROM INDONESIA Siti Annita Otaviya; Lina Nugraha Rani
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1146

Abstract

This study aims to determine the level of productivity of Islamic banks in Indonesia during the period 2011-2018 using indicators of Total Factor Productivity Change (TFPCH) or changes in productivity, and to identify potential determinants of TFPCH. In the first stage, the Malmquist Productivity Index (MPI) is employed to analyse the TFPCH of eight Islamic banks operating between 2011 and 2018. In the second stage, panel data regression is applied to assess the potential determinants of TFPCH. The research findings show that Indonesian Islamic banks experience productivity growth, and that the Technical/Technological Change (TECHCH) component has had a significant influence on this growth, with the GDP and BI rate variables being potential determinants of TFPCH. The research contributes to the renewal of interest in studies of Islamic bank productivity performance in Indonesia, and is accompanied by analysis of the specific determinants of the potential of private banks and the macroeconomics of productivity, research on which is still limited in the related literature.
THE SOCIO-ECONOMIC BENEFITS OF MICROFINANCE: CONVENTIONAL VS. ISLAMIC Amela Trokic; Eldina Barakovac; Velid Efendic
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1162

Abstract

The reduction of poverty and socio-economic development has become a foremost issue in modern society. One approach to improving this was the establishment of microfinance, which has since become an important part of poverty alleviation strategies, but very few studies have considered its benefits based on characteristics other than poverty. Therefore, this study aims to investigate and determine how different client characteristics affect the way people benefit from the financing provided by microfinance institutions. Data were gathered from the beneficiaries of both conventional and Islamic microfinance using a questionnaire, and then analysed using the Kruskal-Wallis and the Mann–Whitney U tests. The results show how MFI financing benefits clients differently based on certain characteristics, as well as how these socioeconomic benefits differ based on whether the financing is provided by a conventional or an Islamic MFI. Overall, conventional and Islamic MFIs have similar strategies when it comes to providing socio-economic benefits to their clients. However, where they diverge is when client gender is considered, as IMFIs are more likely to benefit women. This research will be beneficial to MFIs in terms of the development of their services, as it will help them identify the strengths and weaknesses of their offerings and how well these are able to assist them in fulfilling their purpose of providing benefit to the poorest of the poor, increasing financial inclusion and contributing to socio-economic development.
DO REGULATION, MAQASID SHARIAH AND INSTITUTIONAL PARAMETER IMPROVE ISLAMIC BANK EFFICIENCY? Wan Hakimah Wan Ibrahim; Abdul Ghafar Ismail
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1195

Abstract

We use a new dataset on Islamic banks to link regulation and bank efficiency. Specifically, we examine how bank efficiency is influenced by: (i) bank regulation, (ii) institutional variables, (iii) economic freedom, and (iv) Shariah law parameters. Our hypothesis attempts to prove that better regulation will produce a higher level of efficiency. We will also try to prove that the Shariah law parameter will promote better efficiency among Islamic banks. Data Envelopment Analysis (DEA) is used to measure efficiency, while the panel data method is used to analyse the data. Specifically, our results suggest that a significant relationship exists between bank efficiency and greater restrictions on Islamic bank activities. The results also show that regulatory quality has a positive and significant impact on bank efficiency. The negative coefficient of the economic freedom indicates that Islamic banks have a greater ability to enter into the banking industry and obtain an easy licence, create products and services, and close the business. All would dampen bank efficiency. Overall, our findings support the argument that regulation should be adapted to the risk and size level of the Islamic banks that are being regulated.
INVESTIGATING ZAKAT PAYMENT OF THAI MUSLIMS Sawarai Boonyamanond; Papusson Chaiwat
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1201

Abstract

This study examines Zakat payment among Thai Muslims whose wealth exceeds the minimum threshold (Nisab), thus are obliged to pay Zakat. It attempts to assess whether the amount of Zakat paid fulfils the requirement and to determine the amount of Zakat overpaid or underpaid, based on 2.5% of zakatable wealth, as measured by income from different sources. Using 460 questionnaires collected from Thai Muslims aged 15 years old and over who pay Zakat in 2015, this study employs a two-part model, in which the first part analyses the probability of fulfilling or not fulfilling an obligation to fully pay Zakat using the Multinomial Logit method of estimation, while the second part deals with the amount of Zakat overpaid/underpaid by using the Ordinary Least Square. It is found that the probability of fulfilling the required Zakat will increase and the amount of Zakat underpaid will decrease, if a person pays Zakat more than once a year, or the value of net assets of a person increases. In addition, for those whose Zakat payment is already higher than the amount required, trust and accountability of intermediate institutions or individuals who manage Zakat will positively affect the amount of Zakat overpaid considerably. Therefore, official organisations responsible for collecting, and distributing Zakat at the community, provincial, regional as well as national levels should be established with integrity, transparency, and good governance so that people would be encouraged to pay more Zakat and the lives of those in need can be lifted accordingly.
A META-ANALYSIS OF ISLAMIC MICROFINANCE : CASE BASED EVIDENCE FROM INDIA Mohammad Irfan
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1202

Abstract

This study examines Islamic microfinance as an important contributor to both the economic and human development of India. We are aware that conventional microfinance products have flourished in India; however, these products do not fulfil the needs of all Muslim clients. Taking small glimpses of Islamic microfinance (IMF), we can say it is working successfully in Muslim countries. From the meta-analysis we classify the literature into seven categories, viz. social benefits, religious values, business enterprises, poverty alleviation, sustainable development, rural development and economic development. The contribution of research papers has risen across the literature review and there has been a sharp rise in new facts pertaining to Islamic microfinance in India. As a diagnostic check, all seven factors of the meta-analysis of IMF contain evidence for the case study of India. Bait-un-Nasr is an urban co-operative credit society, located in Mumbai, India that has practised all of the factors extracted by the meta-analysis. This paper provides a roster of emerging projects accompanied by a comprehensive review of literature that will be useful to both academicians and practitioners for studying existing research and contemporary future research.
CAN ISLAMIC MICROFINANCE ALLEVIATES POVERTY IN INDONESIA? AN INVESTIGATION FROM THE PERSPECTIVE OF THE MICROFINANCE INSTITUTIONS Adhitya Ginanjar; Salina Kassim
Journal of Islamic Monetary Economics and Finance Vol 6 No 1 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i1.1203

Abstract

This study examines the poverty alleviation efforts undertaken by the Islamic microfinance institutions (IMFIs) in Indonesia. We focused on the role played by the IMFIs in view of their direct involvements in the process of dealing with the borrowers, and their better understanding about the financial inclusion agenda as well as the financial guidelines and regulations issued by the relevant authorities. In methodology, a total of 34 managers of Baitul Maal wat Tamwil (BMTs) were taken as respondents from the Jakarta, Bogor, Depok, Tangerang and Bekasi (JABODETABEK) areas. A two-step approach was adopted in arriving at enriching findings: first, a survey questionnaire was distributed to the respondents, and subsequently, an in-depth interview was conducted to outline data related to the model design. The findings of this study highlight specific dimensions to improve financial inclusion among the poor. Apart from providing important inputs for better decision-making for the BMTs to further enhance its role in poverty alleviation, this study suggests a variety of strategies to warrant success of poverty alleviation efforts by BMT.

Page 1 of 1 | Total Record : 10

 1 

Filter by Year

2020 2020


Reset
Filter By Issues
All Issue Vol. 11 No. 4 (2025) Vol. 11 No. 3 (2025) Vol. 11 No. 2 (2025) Vol 11 No 1 (2025) Vol. 11 No. 1 (2025) Vol. 10 No. 4 (2024) Vol 10 No 4 (2024) Vol. 10 No. 3 (2024) Vol 10 No 3 (2024) Vol. 10 No. 2 (2024) Vol 10 No 2 (2024) Vol. 10 No. 1 (2024) Vol 10 No 1 (2024) Vol 9 No 4 (2023) Vol. 9 No. 4 (2023) Vol 9 No 3 (2023) Vol. 9 No. 3 (2023) Vol. 9 No. 2 (2023) Vol 9 No 2 (2023) Vol 9 No 1 (2023) Vol. 9 No. 1 (2023) Vol. 8 No. 4 (2022) Vol 8 No 4 (2022) Vol 8 No 3 (2022) Vol. 8 No. 3 (2022) Vol. 8 No. 2 (2022) Vol 8 No 2 (2022) Vol 8 No 1 (2022) Vol. 8 No. 1 (2022) Vol 8 (2022): Special Issue: Islamic Social Finance Vol. 8 (2022): Special Issue: Islamic Social Finance Vol. 7 (2021): Special issue 1: Islamic Economy and Finance in times of Covid-19 Pandemic Vol 7 (2021): Special issue 1: Islamic Economy and Finance in times of Covid-19 Pandemic Vol 7 No 4 (2021) Vol. 7 No. 4 (2021) Vol. 7 No. 3 (2021) Vol 7 No 3 (2021) Vol 7 No 2 (2021) Vol. 7 No. 2 (2021) Vol. 7 No. 1 (2021) Vol 7 No 1 (2021) Vol 6 No 4 (2020) Vol 6 No 3 (2020) Vol 6 No 2 (2020) Vol 6 No 1 (2020) Vol 5 No 4 (2019) Vol 5 No 3 (2019) Vol 5 No 2 (2019) Vol. 5 No. 2 (2019) Vol 5 No 1 (2019) Vol 4 No 2 (2018) Vol. 4 No. 2 (2018) Vol 4 No 1 (2018) Vol. 4 No. 1 (2018) Vol. 3 No. 2 (2018) Vol 3 No 2 (2018) Vol 3 (2018): SPECIAL ISSUE Vol. 3 (2018): SPECIAL ISSUE Vol. 3 No. 1 (2017) Vol 3 No 1 (2017) Vol 2 No 2 (2017) Vol. 2 No. 2 (2017) Vol. 2 No. 1 (2016) Vol 2 No 1 (2016) Vol. 1 No. 2 (2016) Vol 1 No 2 (2016) Vol 1 No 1 (2015) Vol. 1 No. 1 (2015) More Issue