Review of Islamic Economics and Finance
The aims of this Journal is to promote a principled approach to research on Islamic macroeconomics, Islamic microeconomics, Islamic development economics, Islamic monetary economics, Islamic public economics, Islamic political economics, Islamic leisure toursm, and Islamic financial technology. Review of Islamic Economics and Finance (RIEF) specializes in Islamic Economics and is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines. Specifically, the journal will deal with topics, including but not limited to: Islamic macroeconomics, Islamic microeconomics, Islamic development economics, Islamic monetary economics, Islamic public economics, Islamic political economics, Islamic Leisure Toursm, and Islamic Financial Technology eetcology related concerns by encouraging inquiry into the relationship between theoretical and practical studies.
Articles
87 Documents
<![CDATA[Bibliometric Computational Mapping Analysis of Publications on Financial Technology in Islamic Capital Market ]]>
<![CDATA[Ahmad Fadlur Rahman Bayuny]]>;
<![CDATA[Yana Rohmana]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 5, No 2 (2022): Review of Islamic Economics and Finance : December 2022 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v5i2.52657
<![CDATA[Purpose – This study aims to explore and categorize research literature on Financial Technology in Islamic Capital Market systematically by mapping and visualizing it through bibliometric analysis using VOSviewer. Methodology - The research from publications that have appeared in journals that are indexed by Google Scholar served as the foundation for the article data used in this study. A reference manager tool called Publish or Perish is used to gather research data. A literature review on the subject we chose was done with the help of the program Publish or Perish. Findings - The results show that research on Financial Technology in Islamic Capital Market is separated into 3 terms: Financial Technology, Islamic, Capital Market. The term "Financial Technology" is associated with 168 links with a total link strength of 581. The term "Islamic" has 191 links with a total link strength of 661. The term "Capital Market" has 219 links with a total link strength of 840. While the popular Islamic capital market research was carried out in 2019, namely 134 studies. Novelty – There have been many studies on bibliometric analysis, including bibliometric analysis in the field of economics, bibliometric analysis in Islamic economic research. However, research on financial technology and Islamic capital markets bibliometric analysis of published data specifically to determine research development has not been carried out. Research Limitation This study focuses on the financial technology in Islamic Capital Market in the last 10 years due to time constraint. Research Implication- The study presents how many articles have been published on financial technology in Islamic capital market and its relation to problem areas using VOSviewer.This review can be a basis for further research.]]>
<![CDATA[Financial Ratios and These Effects Toward Sukuk Yield with Sukuk Risk as a Mediator Variable ]]>
<![CDATA[Muhamad Abduh]]>;
<![CDATA[Fitri Sri Handayani]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 5, No 2 (2022): Review of Islamic Economics and Finance : December 2022 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v5i2.52659
<![CDATA[AbstractPurpose - This study aims to demonstrate the impact of financial ratios on sukuk yield using sukuk risk as a mediator variable.Methodology - This study focused on corporations in general and employed path analysis and the Sobel test. The secondary data used for this study spans the years 2017 through 2019, with a total of 33 sukuks still outstanding for each year. Findings-According to the study's findings, corporate liquidity has little bearing on sukuk yield or risk. Corporate leverage, meanwhile, has a positive impact on sukuk yield and a negative one on sukuk risk. Furthermore, whereas sukuk risk cannot mediate the impact of corporate liquidity on sukuk yield, it can mediate the impact of corporate leverage on sukuk yield. The research's implication is that it is not necessary to avoid taking on larger sukuk risk in order to raise company leverage by boosting capital structure.]]>
<![CDATA[Factors Affecting the Asset Growth of Indonesian Shaaria Life Insurance Companies ]]>
<![CDATA[Muhamad Rizki Karim Amrulloh]]>;
<![CDATA[Farras Abyan Aziz]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 5, No 2 (2022): Review of Islamic Economics and Finance : December 2022 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v5i2.52660
<![CDATA[Purpose – This study aims to provide an overview and analysis of how premiums, claims, and investment results have affected asset growth in Indonesian Sharia life insurance companies from 2015 to 2020.Methodology - In this work, quantitative causality methodologies were used as the research methodology. The Financial Services Authority-registered Sharia life insurance company serves as the study's population (FSA). The method used for sampling in research is by purposive sampling with the number of samples as many as eleven Sharia life insurance companies in Indonesia for 6 years of research.Findings - The dependent variables in this study are asset growth and independent variables in this research are premiums, claims and investment returns. The results showed that premiums affect the growth of assets in the negative direction, claims affect the growth of assets in the negative direction and investment returns positively affect the growth of assets.]]>
<![CDATA[Indonesian Export Diversification to OIC Countries during Covid-19 Pandemic: A Literature Review ]]>
<![CDATA[Nanda Lismatiara Zubaid]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 5, No 2 (2022): Review of Islamic Economics and Finance : December 2022 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v5i2.51763
<![CDATA[Purpose – The COVID-19 pandemic has had a negative impact on the economies of OIC member countries. The global trading system has been a source of flexibility, diversification, and strength during the pandemic. Export diversification is considered a significant tool to accelerate the pace of economic growth. This study aims to analyze the diversification of Indonesia's exports to the OIC countries during and post-COVID-19.Methodology - To develop export diversification, Indonesia is accelerating several strategies to take advantage of its relationship with OIC countries, including increasing exports of halal products, strengthening market access for Indonesian halal products in foreign markets, and preparing various programs to strengthen business players in exporting halal products.Findings - Post-COVID-19 pandemic recovery, Indonesia's trade balance performance with the OIC countries showed a positive performance by recording a surplus in 2021. Even though during the pandemic in 2019 and 2020, exports to the OIC countries experienced a decline.]]>
<![CDATA[Rasch Analysis On Investment Decision Anomalies in Indonesian Islamic capital market ]]>
<![CDATA[Dr. Darmawan Darmawan, SPd.,MAB]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 5, No 2 (2022): Review of Islamic Economics and Finance : December 2022 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v5i2.56994
<![CDATA[Purpose – This Research aims to understand what behavioural anomalies are in making investment decisions in the Indonesian Islamic capital market and what factors are behavioural anomalies in making investment decisions in the Indonesian Islamic capital market.Methodology - This Research uses a quantitative approach by applying Rasch analysis to measure five types of investment behaviour anomalies. Data was collected using a questionnaire. Findings - The endowment and its items are considered the primary considerations for investors. On the other hand, Anchoring and Adjustment of all the items are not considered the primary consideration. Meanwhile, Conservatism, Optimism and Hindsight spread to both categories of items. The difference in responses by gender was found that only on the item, Feeling greater comfort and optimism with their employer's stock, felt that investing there was less risky than investing elsewhere. Meanwhile, the difference in responses based on age was found that the age of thirties most often gave a different response from other respondents, especially in the indications of Endowment and Hindsight. In comparison, the difference in responses at the age of forties occurred in the items indicating optimism. Financial service providers are advised to offer the most suitable financial products based on gender differences. The most important thing is that in their thirties, an age group that tends to maintain their investment for a longer time and that investment decisions and risks in share ownership where they work are responded differently by gender. Novelty – This research is the first to use the Rasch model in an effort to understand the anomaly of investor behavior in Indonesia. Research Limitation - The anomaly tested does not cover all investor behavior anomalies based on Pompian's behavioral theory. However, only the most representative behavioral anomaly is selected.Research Implication - The results of this study are especially important for companies in the Islamic capital market in Indonesia to be able to attract potential investors and retain existing investors.]]>
<![CDATA[Society Readiness Index using Blockchain Technology in Zakat Payments: Technology Readiness Index Approach ]]>
<![CDATA[A. Jajang W. Mahri]]>;
<![CDATA[Ripan Hermawan]]>;
<![CDATA[Ipan Ahmad]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 6, No 1 (2023): Review of Islamic Economics and Finance : June 2023 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v6i1.58459
<![CDATA[AbstractPurpose - To find out the index and segmentation of West Java society in their readiness to accept blockchain technology in zakat payments. Design/Methodology/Approach – The testing method used in this research is a quantitative method with a descriptive approach. Data analysis techniques use TRI to find out the magnitude of the technology acceptance readiness index and the categorization formula to determine the segmentation of community groups in their readiness to accept blockchain technology. The sample used was 145 Moslem communities in West Java. Results – The results of the study show that the readiness of the people of West Java to use blockchain technology for zakat payments is at high technology readiness. The attitude of the people of West Java to the acceptance of blockchain technology for zakat payments is in the pioneer group or groups who have a great desire to use blockchain technology for zakat payments, but if the technology does not meet expectations or is difficult to use, it will be easy to abandon and difficult to develop.Research Limitation/ Implication – The research conducted is still limited only to determine the index or level of readiness to accept technology. In addition, public literacy regarding blockchain technology is still lacking, so filling out the questionnaire is based on the respondent's experience in using digital transactions. The results obtained are not fully optimal. For further research, it is necessary to identify what factors influence people's readiness to accept blockchain technology in zakat payments in order to realize a better development of blockchain zakat technology in the future.Originality/Value – This research combines two disciplines, namely technology and Islamic economics to obtain new research findings, besides that, the use of the technology studied is the latest and most up-to-date technology for zakat management.Keywords – Technology Readiness, Blockchain Technology, Technology Acceptance Segmentation, Zakat, West Java.]]>
<![CDATA[Analysis Of Land And Building Tax According To Islamic Economic Perspective ]]>
<![CDATA[Yoga Tantular Rachman]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 6, No 1 (2023): Review of Islamic Economics and Finance : June 2023 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v6i1.54449
<![CDATA[This study aims to analysis of land and building taxes from the perspective of Islamic economics, uses a type of descriptive qualitative research. Sources of data and data collection for this study were obtained from library research, observation, interview and internet. The data analysis used is the data analysis model of Miles and Huberman. A data validity test in qualitative research includes credibility, transferability, dependability, and objectivity. According to the findings of this study, in Islamic economics, land and building taxes is synonymous with the term kharaj, it's just that kharaj during the Rosulullah SAW era was imposed only on non-Muslims. In Indonesia, taxes including land and building taxes are permissible by most ulema (jumhur ulema) as long as they are not included in the category of mukus or usry. So that the results of the analysis of land and building tax according to the Islamic Economic Perspective are in accordance with Islamic law as long as they are not included in the mukus or usry category, where land and building tax revenue is used for the construction of public facilities for the benefit of society and social justice in the ability of taxpayers to pay land tax and buildings.]]>
<![CDATA[What Drives Profitability of Sharia Commercial Banks? Comparison between Indonesia and Malaysia (2014-2020) ]]>
<![CDATA[Egi Arvian Firmansyah]]>;
<![CDATA[Ega Firyal Herdidewayanti]]>;
<![CDATA[Rozmita Dewi Yuniarti]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 6, No 1 (2023): Review of Islamic Economics and Finance : June 2023 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v6i1.58903
<![CDATA[Purpose - This study aims to analyze the factors affecting the profitability (proxied by profit expense ratio) of sharia commercial banks (BUS) in Indonesia and Malaysia in 2014-2020.Methodology - This study gathered secondary data from Islamic banking statistical reports published on the official website of each company. This research uses a comparative method using a quantitative approach. Sampling was carried out using the purposive sampling method, resulting in twelve banks from Indonesia and ten banks from Malaysia. The data are analyzed using panel data regression (regression pooling) in Eviews version 10 software. Findings - The results of this study show that debt financing, equity financing, and third-party funds (DPK) simultaneously affect the profitability of BUS both in Indonesia and Malaysia. Separately, debt financing and equity financing have a significant positive effect on the profitability of BUS in Indonesia, while DPK does not significantly affect it. In Malaysia BUS, debt financing, and equity financing do not affect profitability, while DPK does. This study offers a comparative analysis of profitability driven using the two ASEAN countries with the largest Muslim population, expected to contribute to Islamic banking literature.]]>
<![CDATA[Case Study at Bank Panin Dubai Syariah The Effects of Inflation, BI Rate, and Margin Rate on the Growth of Mudharabah Deposits ]]>
<![CDATA[Tasya Virdausa]]>;
<![CDATA[Dwi Retno Widiyanti]]>;
<![CDATA[Sara Muthia Avicennayanti]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 6, No 1 (2023): Review of Islamic Economics and Finance : June 2023 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v6i1.57515
<![CDATA[Purpose – This study aims to examine how the inflation rate, BI rate, and margin rate affect the short- and long-term growth of mudharabah deposits at Panin Dubai Syariah Bank. Methodology - The analysis method that used is Error Correlation Model (ECM) by utilizing monthly data of 2019-2022 periods. Data acquired from BPS and financial reports published by OJK. Findings - Inflation (X1), BI Rate (X2), and the profit- sharing rate (X3) were found to have a significant positive long-term effect on the growth of mudharabah deposits at Bank Panin Dubai Syariah. Meanwhile, the three have no effect on mudharabah deposit levels in the short term, either partially or simultaneously. The result of this study shows that the performance of Bank Panin Dubai Syariah as a finance institution in collecting public funds is stable in the short term, depending on the variables studied. But, in the long term, the bank is experiencing instability. Keywords: Islamic bank; margin; Inflation; Interest rate.]]>
<![CDATA[International Dynamics of Halal Industry Development: A Literatur Review ]]>
<![CDATA[Aji Binawan Putra]]>;
<![CDATA[Widya Rizki Wulandari]]>;
<![CDATA[Moh. Nur Khabib Khasan]]>
<![CDATA[ Review of Islamic Economics and Finance Vol 6, No 1 (2023): Review of Islamic Economics and Finance : June 2023 ]]>
Publisher : <![CDATA[Universitas Pendidikan Indonesia ]]>
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DOI: 10.17509/rief.v6i1.57906
<![CDATA[Purpose – The main objective of this research is to explore the development of the halal industry at the international level and see that the halal industry has prospects for development.Methodology - This type of research is a literature study using a descriptive approach, by collecting data and information from a lot of literature as well as secondary data such as journals, reports, web information, and books that are in accordance with the research theme being carried out.Findings - After conducting a review of the articles that have been collected, the researcher concludes that the trend of the halal industry on an international scale is experiencing rapid development, both from food, pharmaceuticals, cosmetics, tourism, fashion, finance, media and entertainment, and hospitals]]>
