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 3 (2020)" : 10 Documents clear
DETERMINANTS OF CORPORATE BOND AND SUKUK RATINGS IN INDONESIA Afifatun Ni’mah; Nisful Laila; Sylva Alif Rusmita; Eko Fajar Cahyono
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1106

Abstract

This study aims to determine the factors, both financial and non-financial, which influence corporate bond and Sukuk ratings. The results will be useful for companies, investors or related parties as additional information and references for their investment decisions. Using ordinal logistic regression models with SPSS version 21 software, the study analyses the determinants of corporate bond and sukuk ratings listed on the Indonesia Stock Exchange (IDX) for the period 2013-2017. The variables employed are profitability, liquidity, leverage, company size, securities structure and maturity date. The results of the Wald test statistics show that leverage ratio, firm size, security structure, and maturity date are the factors that influence the probability of high or low corporate bond ratings, while profitability and liquidity ratios are factors that have no effect on the level of such ratings. With regard to sukuk, profitability, liquidity, and maturity date are the factors that influence the probability of high or low corporate sukuk ratings, while leverage ratio, company size, and security structure have no effect on the ratings.
EXPLORATION OF AGENT-BASED SIMULATION: THE MULTIPLIER EFFECT OF ZAKAH ON ECONOMIC GROWTH Diyah Putriani; Gairuzazmi Mat Ghani; Mira Kartiwi
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1110

Abstract

Zakat plays an undeniably significant role in social life. The enforcement of zakah in early Islamic history is evidence that it is a powerful tool for fostering economic growth. The economy under the reign of Caliphate Umar Ibn Abdul Azis even achieved a surplus, with no one having the right to receive zakah. Recent studies have attempted to link the role of zakah and economic growth qualitatively by arguing that zakah can contribute to economic development. However, the extent to which it has a multiplier effect on economic growth has not been examined. Considering this research gap, this study examines such an effect on economic growth, as represented by Gross Domestic Product (GDP). To capture the full impact of zakah on aggregate production, two scenarios are conducted, namely the economy with and without zakah. The simulation results show that zakah can promote aggregate production. On the other hand, the economy experiences lower aggregate production when there is no zakah. An agent-based computational model (ABM) simulation is employed to run the simulation. The application of ABM in this study is intended to introduce the use of computational study as an alternative method of developing research in Islamic economics.
USER ACCEPTANCE OF ONLINE WAQF APPLICATIONS: EVIDENCE FROM INDONESIA Taufik Faturohman; Irfan Hassandi; Yulianti Yulianti
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1117

Abstract

Waqf is an Islamic asset endowment to be kept in faith and used for charitable or religious purposes. Its function is to demonstrate the potential and economic benefits of waqf assets for worship and other people’s prosperity. Indonesia has great opportunities to raise more significant amounts of waqf funds. One strategy that appears effective with regard to waqf, especially cash waqf, is to provide an online service. Hence, this research attempts to analyse whether the perceived usefulness, perceived ease of use, perceived religiosity, and amount of information influences user acceptance of using an online waqf application process by implementing the technology acceptance model (TAM). Moreover, the study incorporates structural equation modelling (SEM) to interpret the path analysis of the model. The study fills the gap in the literature concerning the context of use of the technology acceptance model for online waqf in Indonesia. We find that the variables that directly influence user acceptance of online waqf application are perceived usefulness and perceived ease of use, with perceived ease of use influencing perceived usefulness. In addition, perceived ease of use is influenced by the amount of information. Furthermore, the majority of respondents prefer to have projects such as mosques, Islamic boarding schools, schools, and hospital construction projects. To increase user acceptance, online waqf developers should provide more information about the application process and develop more user-friendly software with many features. Moreover, regulators should provide incentives for online waqf developers to maximise cash waqf collection.
THE INTRODUCTION OF WAQF INTO FRACTIONAL AND FULL RESERVE BANKING SYSTEMS TO ACHIEVE ECONOMIC STABILITY Omer Faruk Tekdogan
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1132

Abstract

Fractional reserve banking is a system in which banks extend loans by creating credit/deposit money, and which can be considered the basis of modern financial architecture. Nevertheless, it has been criticised because of its inherently weak and fragile structure in terms of financial and economic stability. As a theoretical solution, full reserve banking has been supported in academic circles, with many technical variations. However, Islamic economics can help to maintain financial and economic stability with its original institution of waqf. Besides performing social functions, waqf also undertakes financial intermediary functions and preserved financial stability in the period of the Ottoman Empire. The purpose of this study is to examine the effects of fractional reserve banking on economic stability and to make a comparison with full reserve banking to observe its potential as an alternative solution. The study also examines the efficiency of the Islamic social and economic institution of waqf in maintaining economic stability in both fractional and full reserve systems. The results demonstrate that full reserve banking is a promising approach to maintaining economic stability and that waqf enhances economic stability in both banking systems.
FINANCING-TO-VALUE (FTV) POLICY AND ITS IMPACT ON RESIDENTIAL PROPERTY PRICES IN INDONESIA Imam Wahyudi Indrawan; Maya Puspa Rahman; Nurfatihah Ahmad Senusi
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1176

Abstract

Financing-to-value (FTV) policy is a macroprudential policy currently used by the central banks to maintain the stability of financial systems and prevent systemic risks. In Indonesia this is particularly the case in relation to financing of the property sector by Islamic financial institutions. This paper aims to analyse the impact of FTV policy on the residential property price index (RPPI) in Indonesia using a panel data analysis method. Indonesia is chosen in this study as it is one of the countries implementing FTV policy in its Islamic banking system. There are three important findings to be drawn from the study. First, FTV policy ratios significantly affect RPPI.
THE UTILISATION OF ISLAMIC FINTECH (I-FINTECH) IN PROMOTING SUSTAINABLE INCLUSIVE GROWTH: EVIDENCE FROM MICRO-ENTREPRENEURS IN MALAYSIA Nik Hadiyan Nik Azman; Mohd Zaidi Md. Zabri; Tajul Ariffin Masron; Nurhafiza Abdul Kader Malim
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1180

Abstract

Information technology is fundamentally changing the world today. The power of technology applicable fastly in Islamic financial technology (i-Fintech), as it expands access to mobile financial services. This is evidenced by the increasing number of customers who interact using technology, especially micro-entrepreneurs, who adopt the tools into their business models to tap into this opportunity to enhance their income. Therefore, it is imperative to examine the impact of i-fintech use in stabilising micro-entrepreneurs’ income. A quantitative technique was employed through the use of 120 questionnaires distributed to micro-entrepreneurs who had adopted i-fintech into their business. Using Amos and SEM models, the study indicates that crowdfunding, mobile money and peer-to-peer lending play a significant role in ensuring income sustainability for micro-entrepreneurs. The study also discusses both the theoretical and managerial implications in comprehending the determinants of sustainable income growth in Malaysia. The findings should help practitioners, researchers and regulators to have better understanding of the dynamics between the potential of i-fintech and sustainable income.
PROGRESSIVE FINANCING IN INDONESIAN ISLAMIC MICROFINANCE INSTITUTIONS: IMPROVED MONITORING OR DISTINCTIVE COMMERCIALISATION? Muhammad Miqdad Robbani; Mahdiah Aulia; Fatiya Rumi Humaira
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1183

Abstract

Microfinance institutions (MFIs) play pivotal roles to providing financing and services to micro and small enterprises (MSEs) in Indonesia. Islamic MFIs, which follow Shariah principles in their operations, aim not only to provide financing, but also to improve the socioeconomic conditions of poor people. There is heightened interest in the factors influencing the development of MFIs, such as relationship lending. This study aims to explore the effectiveness of such lending and the uniqueness of the implementation of social purpose in Islamic MFIs. The paper adopts a quantitative methodology, using cross-sectional survey data from 1,001 microloan borrowers from five MFIs, three of which are Islamic MFIs which provided financing in 13 regions in Indonesia in 2018. The results show that Islamic MFIs do not differ in the implementation of relationship lending. Furthermore, there is a likelihood that they are able to be more focused on profit-oriented transactions ensuring sustainability, due to their unique characteristics, as they have Baitul Maal with the social instruments of zakat, infaq and sadaqa to provide social-oriented transactions to improve outreach to the poor. The study enhances our understanding and adds knowledge to the existing literature on Islamic MFIs, especially in Indonesia.
ISLAMIC FINANCIAL DEVELOPMENT AND ECONOMIC GROWTH IN NIGERIA: A BOUNDS TESTING APPROACH Tasiu Tijjani Sabiu; Muhamad Abduh
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1191

Abstract

Using a bounds testing approach to the cointegration and error correction method developed within the autoregressive distributed lag (ARDL) framework, this paper analyses the short- and long-run dynamic relationships between Islamic financial development and economic growth in Nigeria. Quarterly time-series data (2012:1 to 2019:3) are employed for the variables, together with non-interest bank financing to the private sector and real gross domestic product as indicators of Islamic financial development and economic growth respectively. The results indicate a significant short- and long-run relationship between Islamic financial development and economic growth. The relationship, however, is neither Schumpeter’s supply-leading nor Robinson’s demand-following type; rather, it appears to be bi-directional. In addition, empirical evidence is found that underscores the important role of Islamic bank financing in the economic performance of Nigeria. The paper recommends that improvement of the Islamic financial system in Nigeria may foster economic development and enhance welfare and poverty alleviation in the long run.
ISLAMIC BANKING AND BANK PERFORMANCE IN MALAYSIA: AN EMPIRICAL ANALYSIS Mansor H. Ibrahim
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1197

Abstract

This paper examines the performance of Malaysia’s banking sector and its relationship to the presence of Islamic banking in the country. More specifically, by controlling for the theoretically relevant determinants of bank performance we compare the efficiency, profitability and risk of Islamic banks to conventional banks and examine the spillover effects of Islamic banking penetration on bank performance. To these ends, we adopt a panel modelling approach. Taking note that our focal variables comprise the time-invariant Islamic banking dummy and potentially endogenous Islamic banking share, we apply the Hausman–Taylor (HT) instrumental-variable estimator in the analysis. Our results indicate that Islamic banks in Malaysia are less profitable than their conventional counterparts and that Islamic banking penetration is associated with lower bank profitability. However, the increasing presence of Islamic banking appears to make Malaysian banks less risky and, with limited evidence, more efficient. Finally, the efficiency–risk trade-off seems to have potential as the Islamic banking portion of the sector increases in size. These results are reasonably robust compared to alternative specifications of the model.
CHALLENGES FACING ISLAMIC BANKING IN IRAN: EVALUATION AND POLICY IMPLICATIONS Hossein Meisamy; Hassan F. Gholipour
Journal of Islamic Monetary Economics and Finance Vol 6 No 3 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i3.1241

Abstract

Iran is one of the few countries that has instituted shariah-compliant banking nationwide and does not have a conventional banking sector. However, since the Riba-Free Banking Act (RFBA) was passed and put into practice in 1983, the Iranian Islamic banking system has experienced some significant challenges and shortcomings. The main purpose of this paper is to identify the various impediments facing the Iranian Islamic banking industry and to suggest a prioritized listing of these challenges. To achieve this goal, a three-round Delphi study (a method designed to aid consensus building) is used to determine the major challenges and rank them based on relative importance. The research panel consulted consists of 32 Iranian Islamic banking experts with in-depth knowledge and experience. The results show that the top five challenges to the Islamic banking system in Iran are (1) the governmental attitude towards Islamic banking; (2) lack of competition; (3) not revising the law (RFBA); (4) lack of shariah supervision; and (5) lack of accounting and auditing standards. This paper contributes to the literature addressing Islamic banking by critically analysing the more than three decades of Iranian experience in implementing shariah-compliant banking.

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