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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 3 Documents
 1 
Search results for , issue "Vol. 7 No. 2 (2021)" : 3 Documents clear
DOES ISLAMIC BANKING PROMOTE FINANCIAL STABILITY? EVIDENCE FROM AN AGENT-BASED MODEL Tekdogan, Omer Faruk; Atasoy, Burak Sencer
Journal of Islamic Monetary Economics and Finance Vol. 7 No. 2 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i2.1323

Abstract

Islamic banking has come to the forefront as being one of the fastest growing branch of the global financial industry in recent years. In this study we evaluate whether coexistence of Islamic and conventional banks promote financial stability. In this respect, we evaluate two types of financial systems: (1) A system solely comprised of conventional banks, (2) a dual system in which conventional and Islamic banks coexist and interact with each other. Accordingly, we design two agent-based models representing aforementioned systems and examine possible contagious effects and causes of bank failures by employing the volatility spillover methodology. We find that Islamic banks greatly promote stability by providing liquidity during financial shocks and create more liquidity per asset compared to conventional banks. We also find that they tend to hold more cash than conventional banks, which cushion the effects of a possible liquidity squeeze. Conventional banks, on the other hand, tend to have reserve deficits, which intensify during shock periods. We conclude that coexistence of both bank types creates a win-win situation and contributes to financial stability.
SOCIAL-COMMERCIAL INTERCONNECTION: LESSONS FROM BANK MUAMALAT INDONESIA & BAITULMAAL MUAMALAT AFFILIATION Bayinah, Ai Nur; Said, Muhammad; Suparta, Munzier
Journal of Islamic Monetary Economics and Finance Vol. 7 No. 2 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i2.1339

Abstract

This research aims to explore the model of interconnection between the Islamic Bank and Zakat Management Organisation, as the two represent the implementation of Islamic economics in Indonesia. Using the Group Method of Data Handling (GMHD) tool to discern the strength of the relationship between the two representative entities, Bank Muamalat Indonesia and Baitulmaal Muamalat, it also followed the hyper postphenomenology approach to sharpen the result by obtaining essential confirmation from key informants with respect to determining the ideal model. The result showed a robust and reciprocal correlation between the account variables and its influence was statistically significant. Furthermore, it was interpreted as an effort to improve the image of the banking system while providing added value, forms of corporate responsibility and a spirit of service to customers. The results led to convergence on the formulation of the ideal model, which depends on the moral intentions of the owners of capital, government alignment and the literacy of directors, control needs and public awareness. Thus, it bridges the findings of previous studies and recommends a model that inseparable moral economic instruments. ACKNOWLEDGMENT This publication was made possible by the award from Bank Indonesia Institute. The author is grateful to the reviewers, Prof. Dr. Raditya Sukmana and Prof. Dr. Dian Masyita, for their guidance in refining this paper. Thanks to Mr. Donny Setiawan for improving the writing and to BMI, BMM, BAZNAS, Ministry of Religion Affairs RI, STEI SEBI, UIN Jakarta, and all colleagues, for supporting this research.
THE REGIME SWITCHING OF CYCLE INSTABILITY OF ISLAMIC BANKING AND THE ECONOMY: EVIDENCE FROM INDONESIA, MALAYSIA, AND PAKISTAN Nurfalah, Irfan; Rusydiana, Aam Slamet
Journal of Islamic Monetary Economics and Finance Vol. 7 No. 2 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i2.1362

Abstract

This study aims to examine the cyclical instability of Islamic banking in Indonesia, Malaysia, and Pakistan. A stable Islamic banking system can give the public confidence to conduct transactions and thus grow the economy. The proxy variable for stability used is the z-score, with 156 periods of research data from January 2007 to December 2019. The Markov Switching Vector Autoregression (MS-VAR) method was employed. The results show that Islamic banking stability in Indonesia based on the z-score is more stable than others. Nevertheless, in terms of the regression of all the variables, regime shifting, and the duration of the crisis, overall Malaysian Islamic banking displays the best performance. The instability of the Indonesian model is mostly affected by inflation, whereas Malaysia and Pakistan are affected by the financing to deposit ratio and the fluctuation in global oil, respectively.

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