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 476 Documents
 44   45   46   47   48 
A BIBLIOMETRIC ANALYSIS AND MAPPING STUDY OF RISK MANAGEMENT IN ISLAMIC FINANCIAL INSTITUTIONS Alghamati, Adel K.; Azam, S. M. Ferdous; Khatibi, Ali
Journal of Islamic Monetary Economics and Finance Vol. 10 No. 4 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i4.2270

Abstract

This paper performs a bibliometric analysis on risk management in Islamic financial institutions (IFIs), identifying significant research themes, influential authors, as well as emerging trends from 2003 to 2024. A systematic search strategy identifies 524 relevant publications from the Scopus and Web of Science databases. Using techniques from network analysis, science mapping, and performance analysis with the help of VOSviewer software, we find that 2020 and 2021, with 86 and 97 papers, are the most productive years in both databases. University of New Orleans and International Islamic University Malaysia are significant institutions. The most prominent journal is the International Journal of Islamic and Middle Eastern Finance & Management, which garners the highest number of citations. The Journal of Islamic Accounting and Business Research has the highest number of publications. Malaysia is a significant contributor to this field. Moreover, research on risk management in other sectors has been scant, concentrating solely on Islamic banking. Relying on particular databases and English-language publications could have eliminated relevant non-English research.
CORPORATE SOCIAL PERFORMANCE AND FINANCIAL STABILITY: EVIDENCE FROM ISLAMIC, SOCIAL AND CONVENTIONAL BANKING MODELS Mohamed Sultan, Syed Alwi Bin; Wan Ahmad, Wan Marhaini Binti; Ismath Bacha, Obiyathulla; Ramlee, Roslily
Journal of Islamic Monetary Economics and Finance Vol. 10 No. 4 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i4.2273

Abstract

This paper addresses two key issues in Corporate Social Performance (CSP) research. First, it investigates the impact of CSP on Financial Stability (FS), and second, it examines the influence of different banking models on the relationship between CSP and FS. Using a cross-country sample of 117 financial institutions from 36 countries over an 8-year period (2013-2020) and the System Generalized Method of Moments (GMM) estimation method, it finds that banking models significantly affect the CSP-FS relationship. This is attributed to diminishing marginal benefits of economic growth beyond a certain level of financial intermediation, which increases financial risk. The results give new insights into the synergies and divergences between different banking models and the overarching goals of social performance and financial stability. This research contributes novel insights that can inform policymakers, regulators, and industry stakeholders in their quest for a more resilient and sustainable banking sector.
A LITERATURE REVIEW OF UPDATED ISLAMIC CORPORATE GOVERNANCE ELEMENTS: IMPLICATIONS FOR INDONESIA Lestari, Irna Puji; Hanafi, Mamduh Mahmadah; Wardhana, Leo Indra
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2305

Abstract

This study identifies elements of Islamic Corporate Governance (ICG) that contribute to the performance of shariah-compliant firms. A systematic literature review is carried out on 173 relevant articles from the Scopus database, spanning from 2004 to 2024. It identifies five key elements of ICG: (1) Shariah board governance, (2) management and board governance, (3) audit and risk governance, (4) sustainable governance, and (5) Muslim management and board governance. These key elements encompass various sub-elements that have diverse impacts on firm performance across financial, social, and environmental dimensions. The findings offer specific implications for Indonesia, emphasizing the integration of sustainability practices into corporate governance mechanisms and considering distinct approaches to ICG mechanisms for dual-sector performance between Islamic Financial Institutions (IFIs) and non-IFIs. ACKNOWLEDGEMENT The paper is supported by sponsorship from the Indonesia Endowment Fund for Education (LPDP), whose sponsorship has played a crucial role in facilitating the research process. The authors deeply appreciate this support and are grateful for the opportunities it has provided. The authors also gratefully acknowledge the valuable comments provided by the journal's editors and reviewers.
THE LEVEL OF CONVERGENCE TO SHARI’AH PRINCIPLES AND CORPORATE PROFITABILITY Parlak, Deniz; Yildiz, Mehmet Emin; Yılmaz, Naci
Journal of Islamic Monetary Economics and Finance Vol. 10 No. 4 (2024)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v10i4.2337

Abstract

This study constructs a Shari'ah convergence index for 1,362 companies operating in 10 different Islamic countries between 2017 and 2021 and assesses its relation to corporate profitability. Shari’ah screening variables are based on existing Shari’ah screening literature and applications, and variable weights are assigned using the Integrated Determination of Objective Criteria Weights (IDOCRIW) technique, a widely used, multi-criteria decision-making method. The results suggest that 4% of the sample is completely non-compliant as they engage in non-permissible business activities, 82% has a non-compliant activity level below 30% and the remaining 14% has a non-compliant activity level between 41 and 99%. Our panel data regression analysis shows that, while the Shari'ah convergence index does not affect operating profitability, it does have a statistically positive effect on total corporate profitability. These findings are attributable to two factors, interest burden and debt level. It seems that, for Islamic companies, The high cost of debt service may offset the advantage of high leverage on profitability. ACKNOWLEDGEMENTS We thank to Prof. Abdullah Yalaman for his valuable comments and to Eric Laden for his proofreading.
SHARIA SUPERVISORY BOARD, BOARD ATTRIBUTES AND REAL EARNINGS MANAGEMENT IN ISLAMIC BANKS Musa, Sulaiman; Haji Masri, Masairol; binti Hamdan, Mahani
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2354

Abstract

This study examines how the Sharia Supervisory Board (SSB) moderates the effects of Board of Directors (BOD) characteristics on real earnings management (REM) of Islamic banks. Using unbalanced data encompassing 45 Islamic banks across 15 countries from 2012 to 2023, it documents a negatively significant influence of board size, independence, and expertise on REM. The influence of board's diligence, however, is absent. The study further notes that the SSB index moderates the effect of BOD attributes on REM in Islamic banks. The findings hold important implications for policymakers and regulators in shaping regulations on SSB and BOD oversight functions to curb REM practices. The study also contributes to the literature by offering further empirical evidence on the relationship between corporate governance and REM in Islamic banks.
ESG AND BANKING PERFORMANCE IN EMERGING AND DEVELOPING COUNTRIES: DO ISLAMIC BANKS PERFORM BETTER? Fakhrunnas, Faaza; Kenc, Turalay; Hengchao, Zhang
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2429

Abstract

This paper investigates the effects of Environmental, Social, and Governance (ESG) implementation on banking performance in emerging and developing countries. Applying the Two-step System Generalized Method of Moments (System-GMM) to panel data of 179 banks across 29 countries spanning 2016-2022, we find that ESG implementation significantly enhances overall banking profitability. However, when we assess the implications of ESG on Islamic banks, we find that overall ESG commitment significantly reduces profitability. As for the individual ESG pillar, we note the profit-enhancing effect of environmental pillar on both Islamic and conventional bank profitability. Some evidence is also uncovered for the significant positive effect of social pillar on conventional bank profitability. Finally, we note no significant influences from governance pillar. These results highlight the divergent impacts of ESG implementation on Islamic and conventional banks. We conclude that policymakers should exercise caution in designing and implementing ESG policies, ensuring they are tailored to promote optimal performance across different banking models. This study contributes to the growing body of the literature on sustainable finance and provides valuable insights for regulators and bank managers in emerging and developing economies.
THE ROLE OF DEPOSIT INSURANCE IN SUPPORTING ISLAMIC MICROFINANCE INSTITUTIONS: INSIGHTS FROM INDONESIA Fianto, Bayu Arie; Aryo, Bagus; Shah, Syed Alamdar Ali; Mustofa, Muhammad Ubaidillah Al; Anisha, Ade Intan Ismi Nur; Ruslan, Rafiatul Adlin Hj Mohd
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2476

Abstract

This study assesses the necessity of a Deposit Insurance System (DIS) for Islamic Microfinance Institutions (IMFIs). It first identifies key factors influencing knowledge of DIS among stakeholders and then proceeds to evaluate the social impact of IMFIs and examine the urgency for a DIS and respondents' willingness to pay deposit insurance premiums. Conducting survey using purposive sampling, we obtain required data for the analysis from 405 respondents. Applying the logistic regressions, we find reveal that education, work experience, and financial behaviors influence DIS awareness. The findings underscore the urgency of implementing DIS to bolster stakeholder trust and financial system stability, with respondents expressing willingness to contribute premiums. These insights contribute to designing a Shariah-compliant DIS that aligns with the unique operational characteristics of IMFIs, supports sustainable industrialization, and advances SDG-9 goals. The study highlights actionable pathways for policymakers, regulatory bodies, and IMFI managers to foster a resilient and inclusive financial ecosystem. ACKNOWLEDGEMENT Special thanks to the National Committee of Islamic Economic and Finance of the Republic of Indonesia and Universitas Airlangga for the financial assistance. Universitas Airlangga through International Research Collaboration Scheme Top #500, Airlangga Research Fund, Year 2023, Universitas Airlangga, No: 359/UN3.15/PT/2023.
PORTFOLIO DIVERSIFICATION OPPORTUNITIES FOR NIGERIA’S ISLAMIC (SHARIAH) STOCK INVESTORS WITH THEIR MAJOR TRADING PARTNERS Abdulkarim, Fatima Muhammad; Ali, Hamisu Sadi; Muye, Ibrahim Muhammad; Tabash, Mosab I.
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2488

Abstract

This paper investigates potential diversification opportunities for Nigeria’s Islamic stock investors with Nigeria’s top trading partners (France, Spain, United Kingdom and India). It employs daily data of Islamic stock indices, namely Nigeria’s LOTUS Islamic index and FTSE shariah indices of the four countries, from 14 July 2015 to 14 December 2022. Using multivariate GARCH-DCC, we show that Islamic investors from Nigeria have almost no portfolio diversification opportunities in the Islamic stock markets of these countries except for a slight portfolio diversification opportunity found in the UK Islamic stock market for a very short period (one year) and almost none for India, Spain, France. The results from the continuous wavelet transform (CWT) however suggest that diversification opportunities are present in UK, France, Spain and not in India. These findings have important policy implications for policy makers and investors seeking to invest in these countries to be mindful of the appropriate investment timing to minimize potential future losses in investments.
DIGITAL FINANCIAL INCLUSION AND BANK STABILITY IN A DUAL BANKING SYSTEM: DOES FINANCIAL LITERACY MATTER? Banna, Hasanul
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 1 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i1.2650

Abstract

This study examines the relationship between digital financial inclusion (DFI), financial literacy, and stability of conventional and Islamic banks across 15 countries from 2011 to 2020. The findings show that DFI significantly enhances the stability of conventional banks, particularly through increased customer engagement with digital financial services, improving asset quality and reducing risks. In contrast, the relationship between DFI and stability of Islamic banks is either insignificant or negative, which may be attributed to Shariah compliance requirements, product mismatches, and competition from conventional banks and FinTech firms. Furthermore, while DFI boosts stability in conventional banks, it also exposes them to potential risks such as digital bank runs, as seen in the case of Silicon Valley Bank (SVB) in 2023. Additionally, high financial literacy positively interacts with DFI to boost the stability of conventional banks but has a negative impact on Islamic banks. Arguably, financially literate customers may resist digital services that do not fully meet Islamic principles. The results highlight the need for tailored strategies in Islamic banking, including the development of Shariah-compliant digital products, enhanced financial literacy programs, and more robust risk management frameworks to mitigate vulnerabilities like digital bank runs and improve stability in the sector.
Exploring Customer Loyalty Drivers in Indonesian Islamic Bank After Cybersecurity Breaches Using SEM Approach Sari, Mia; Indra, Indra; Riani, Ririn
Journal of Islamic Monetary Economics and Finance Vol. 11 No. 4 (2025)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v11i4.2233

Abstract

This study explores the factors influencing customer loyalty at Bank Syariah Indonesia (BSI) after cyberattacks, using the Expectation Confirmation Theory (ECT) as the theoretical framework. A quantitative approach with Partial Least Squares-Structural Equation Modeling (PLS-SEM) is applied, analyzing data from 225 customers affected by service disruptions, ATM use, and Mobile Banking. The findings indicate that customer loyalty is significantly affected by service quality, religiosity, and customer trust. Furthermore, customer trust after a cyberattack is significantly influenced by service quality and religiosity. The Compliance, Assurance, Reliability, Tangibles, Empathy, and Responsiveness (CARTER) model is used to measure service quality, emphasizing both technical and ethical aspects. The results highlight the importance of successful crisis management, clear communication, improved security, and compensating customers in retaining and potentially growing the customer base post-attack. This research underscores the significance of the CARTER model in evaluating service quality and the role of religiosity in fostering customer loyalty. The study emphasizes that Islamic banks should integrate technical and ethical aspects of service to minimize negative impacts and maintain customer loyalty.

Page 46 of 48 | Total Record : 476

 44   45   46   47   48 

Filter by Year

2015 2026


Reset
Filter By Issues
All Issue Vol. 12 No. 1 (2026) 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