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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 476 Documents
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THE EFFECTS OF ISLAMIC MICROFINANCING, HUMAN CAPITAL AND ICT USAGE ON WOMEN MICRO-ENTREPRENEURS’ PERFORMANCE IN MALAYSIA Nur Hazirah Binti Hamdan; Salina Hj Kassim
Journal of Islamic Monetary Economics and Finance Vol 8 (2022): Special Issue: Islamic Social Finance
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v8i0.1421

Abstract

This study examines the influences of Islamic microfinancing, human capital development, and information and communication technology (ICT) usage on the performance of Malaysian women micro-entrepreneurs funded by an Islamic microfinance institution (IMFI). It considers Amanah Ikhtiar Malaysia (AIM) as the study setting and adopts a quantitative approach involving 120 women micro-entrepreneurs. The questionnaire was distributed to women micro-entrepreneurs in Selangor state employing a convenience sampling method. The model was analysed utilising the partial least squares structural equation model (PLS-SEM). The findings indicate that Islamic microfinancing, human capital, and ICT usage positively influence the performance of women micro-entrepreneurs. The empirical findings enhance the literature by extending the resource-based view (RBV), a soft theory in the organisational theory literature, by incorporating Islamic microfinancing in the context. It is hoped the study will assist IMFIs and governments in strengthening infrastructures, developing comprehensive business strategies, and educating women micro-entrepreneurs about the possibilities of the digital economy for long-term business sustainability and development.
MUSLIM INTENTION TO PARTICIPATE IN RETAIL CWLS: THE TEST OF MEDIATION AND MODERATION EFFECTS Izra Berakon; Lu’liyatul Mutmainah; Abdul Qoyum; Hendy Mustiko Aji
Journal of Islamic Monetary Economics and Finance Vol 8 (2022): Special Issue: Islamic Social Finance
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v8i0.1427

Abstract

Cash Waqf-Linked Sukuk (CWLS), which integrates cash waqf instruments and sovereign Sukuk, is an innovative Islamic investment product with social and spiritual dimensions. This study investigates public intention to participate in Retail CWLS (SWR) using the Technology Acceptance Model (TAM) framework with the addition of other relevant constructs. An online survey was conducted using the purposive sampling technique and involved 130 respondents. The data were analysed using Partial Least Squares Structural Equation Modeling (PLS-SEM) supported by WarpPLS. The results indicate that Perceived Ease of Use (PEOU), Perceived Usefulness (PU), Perceived Transparency (PT), and Trust in the Indonesian Waqf Board and Waqf Institutions have a significant positive effect on individual Intention to participate in Retail CWLS. Furthermore, this study reveals that Trust could partially mediate the relationship between PU and individual Intention. However, Religiosity fails to moderate the relationship between PU and individual Intention to purchase SWR. The study also demonstrated other complementary statistical outputs such as split-sample, non-linear relationships among latent variables, effect size, and the Q-squared coefficient to ensure that the processed data were robust. Also, this finding indirectly implies that CWLS is not only targeted at the Muslim community but also for general investors from other religions and beliefs.
REPEATED GIVING OF CASH WAQF: A CASE STUDY OF SABAH, MALAYSIA Nurul Izzati Binti Justine; Mohamad Isa Abd Jalil
Journal of Islamic Monetary Economics and Finance Vol 8 (2022): Special Issue: Islamic Social Finance
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v8i0.1448

Abstract

This study examines repeated waqf contributions in Sabah State, Malaysia. Religious obligation, benevolence, and familiarity with and trust in the waqf institution are the variables that are expected to have a positive relationship with the repeated behaviour of giving waqf cash. These antecedents are drawn from previous empirical studies. A total of 200 respondents who have repeatedly contributed to cash waqf shared their opinions through a survey form distributed by using the "convenience sampling" method. The collected data were then tested employing variance-based structural equation modelling and the partial least squares path modelling method using SmartPLS 3.3 software. The results of the analysis show that all the variables, namely religious adherence, benevolence, familiarity with the waqf institution, and trust in the waqf institution significantly influence the behaviour of repeated cash waqf contributions. The study findings could be used by future researchers as a point of reference. In practice, waqf institutions could also benefit from the findings by better understanding their donors' wishes and preferences.
MEASURING THE EFFICIENCY OF WAQF FUND IN INDONESIA Rusydiana, Aam Slamet; Sukmana, Raditya; Laila, Nisful
Journal of Islamic Monetary Economics and Finance Vol 8 (2022): Special Issue: Islamic Social Finance
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v8i0.1650

Abstract

This research measures the efficiency of waqf funds managed by philanthropic institutions in Indonesia using the Data Envelopment Analysis (DEA) approach over the 2013-2021 period. The unit of analysis consists of nine philanthropic waqf institutions. In the measurement of efficiency, the study takes human resource expenses and operational costs as inputs and collection and distribution of waqf funds as outputs. The findings indicate that the efficiency of philanthropic organizations in handling waqf funds varies from year to year between 2013 and 2021. The paper also notes that the Covid pandemic has no substantial impact on the efficiency of the waqf institutions. Interestingly, regional institution clusters are more efficient than mass organization and national institution clusters. Acknowledgment The authors would like to thank the Faculty of Economics and Business, Airlangga University, Indonesia, for the support that made this study possible
ISLAMIC BANK CUSTOMERS’ ADOPTION OF DIGITAL BANKING SERVICES: EXTENDING DIFFUSION THEORY OF INNOVATION Shaikh, Imran Mehboob; Amin, Hanudin; Noordin, Kamaruzaman; Shaikh, Junaid Mehboob
Journal of Islamic Monetary Economics and Finance Vol 9 No 1 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v9i1.1545

Abstract

This paper examines the factors that drive non-users of digital banking services rendered by Pakistani Islamic banks to adopt digital banking using the Diffusion theory of Innovation (DOI). We gather data from 208 Islamic bank customers who do not use digital banking services. Findings of the study reveal that adoption of digital services offered by Islamic banks are largely decided by relative advantage, technology self-efficacy and complexity. All the factors above are influential in determining the digital banking adoption by non-users. The finding serves as an essential input to banks and policy makers in expanding the adoption of digital banking services of Islamic banks. Acknowledgment The authors would like to thank Bank Indonesia Institute, Bank Indonesia, for the funding that made this study possible.
THE INFLUENCE OF BASEL III ON ISLAMIC BANK RISK Xiaoling Ding; Razali Haron; Aznan Hasan
Journal of Islamic Monetary Economics and Finance Vol 9 No 1 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v9i1.1590

Abstract

This paper investigates the impact of bank regulatory capital on Islamic bank risk using bank-level data from 29 countries covering the period from 2004 to 2020. Applying the generalized method of moments technique on dynamic panels, we discover that on average Islamic bank regulatory capital ratios exceed the level required by Basel III. The findings provide evidence in support of the moral hazard hypothesis; that is, there is a negative relationship between capital and risk. They indicate that Islamic banks are better protected against risk when they fulfill Basel III and IFSB regulatory capital requirements. According to our findings, authorities that aim to improve the financial stability of the banking industry should reinforce their policies and oblige banks to adhere to regulatory capital requirements during crises such as Covid-19. Finally, we observe that different risk indicators have diverse correlations with regulatory capital, and that the findings are robust across a variety of estimation methodologies.
ENVIRONMENTAL, SOCIAL, GOVERNANCE INVESTING, COVID-19, AND CORPORATE PERFORMANCE IN MUSLIM COUNTRIES Tekin, Hasan; Güçlü, Fatih
Journal of Islamic Monetary Economics and Finance Vol 9 No 1 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v9i1.1592

Abstract

We examine the impact of Environment, Social, and Governance–ESG investing on corporate performance of non-financial firms in Muslim countries during the pandemic. Employing the random effect panel model with 1,546 firm-year observations, we find that the ESG combined score and its pillars have significant influence on corporate performance during the COVID-19 period. Namely, the performance of firms with higher ESG is relatively less affected as compared to the performance of firms with lower ESG. We also note that firms in Malaysia and the United Arab Emirates with high ESG have better operational (financial) performance. Finally, from the sectorial perspective, health care and energy (consumer staples) firms with higher ESG have higher operational (financial) performance during the pandemic. Acknowledgment The authors would like to thank Bank Indonesia Institute, Bank Indonesia, for the funding that made this study possible.
INVESTIGATING THE DETERMINANTS OF CASH WAQF INTENTION: AN INSIGHT FROM MUSLIMS IN INDONESIA Masrizal Masrizal; Nurul Huda; Arridha Harahap; Budi Trianto; Tasiu Tijjani Sabiu
Journal of Islamic Monetary Economics and Finance Vol 9 No 1 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v9i1.1607

Abstract

This study looks at the factors that influence the Indonesian Muslim to perform cash waqf based on a modified Theory of Reasoned Action (TRA) framework. Using primary data from islands in Indonesia, as many as 436 respondents, and the partial least square approach, the paper finds that religiosity contributes positively to waqf literacy. Subject norms and religiosity also affect the attitude of Muslims in waqf. Religiosity is the most potent factor in influencing the attitude of Muslims in waqf. The variable of waqf literacy also affects the attitudes and intentions of Muslims in waqf. Finally, trust also affects the attitudes and intentions of Muslims in waqf.
THE COVID-19 LOCKDOWN EFFECTS ON MENTAL WELL-BEING AND RELIGIOSITY: EVIDENCE FROM INDONESIA Andariesta, Dinda Thalia; Ridhwan, Masagus M.; Rezki, Jahen Fachrul; Indira, Mutiara Helga
Journal of Islamic Monetary Economics and Finance Vol 9 No 1 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v9i1.1609

Abstract

We investigate the effects of COVID-19 lockdowns on frequency of online search on mental well-being and religiosity-related terms in Indonesia using high-frequency data from Google Trends and Bank Indonesia Consumer Survey from January 1st, 2018, to February 28th, 2021. Monthly search terms and consumer survey data are merged at the provincial level, which results in a total of 131,300 individual observations. Using event analysis and instrumental variable approaches, our study suggests that lockdown policy is significantly associated with higher search intensity of mental well-being and religiosity-related terms compared to the pre-lockdown period. Our findings suggest that mentally disturbed people tend to lean on religion to cope with stressful events during a crisis. Our study has substantial policy implications on ensuring appropriate government interventions that minimize the detrimental effect of COVID-19 on mental well-being. Acknowledgment We are grateful to Bank Indonesia's Department of Statistics for helping us to provide the survey data.
PERCEPTION AND INTENTION TO PARTICIPATE IN MICROTAKAFUL SCHEME AMONG INDONESIANS: AN APPLICATION OF AJZEN'S THEORY OF PLANNED BEHAVIOR Muh Zul Hazmi Rapi; Salina Kassim
Journal of Islamic Monetary Economics and Finance Vol 9 No 1 (2023)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v9i1.1615

Abstract

This study examines the intention of Indonesian Middle of Pyramid (MOP) and Botton of Pyramid (BOP) and their intention to participate in microtakaful products. The study develops an extended theory of planned behavior (TPB) model and uses structural equations modelling (SEM) to analyze data gathered from 428 respondents. Responses are obtained through a combination of online surveys and traditional paper-based distribution of questionnaires. The findings show that there is a high intention to participate in microtakaful among the respondents, with the subjective norm, price, and knowledge having positive influences on the intention to participate in microtakaful products. Meanwhile, compatibility is shown to have a positive influence on the attitude toward microtakaful, and normative belief has a positive influence on the subjective norm. However, the result shows that relative advantage has a negative influence on the attitude toward microtakaful, and attitude and price show a negative influence on the intention to participate in microtakaful products. Generally, there is a positive intention toward microtakaful among the respondents; however, knowledge and pricing are important factors that hinder the development of the microtakaful industry in Indonesia. These findings provide valuable information for the Indonesian microtakaful market and other Islamic micro institutions.

Page 23 of 48 | Total Record : 476

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