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Journal of Islamic Economics and Finance Studies
Published by Universitas Pembangunan Nasional Veteran Jakarta
ISSN : 27236730     EISSN : 27236749     DOI : -
Core Subject : Religion, Economy, Social,
Religion Economics, Econometrics & Finance Social Sciences
Journal of Islamic Economics and Finance Studies (JIEFeS) is a peer-reviewed journal published twice a year, in June and December by the Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta, Indonesia. The journal accepts scientific articles in the form of research results and theoretical or conceptual papers, written in standard Indonesian or English. JIEFeS particularly focuses on the main issues and studies in Islamic Economics and Finance areas. It covers Islamic Economics, Islamic Banking and Finance, Islamic Microfinance, Islamic Philanthropy (Zakah and Waqf), and Halal Economy.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 93 Documents
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The Effect of Dividends and Capital Gains on Underlying Assets in Green Sukuk Agus Purnomo; Atika Zahra Maulida
Journal of Islamic Economics and Finance Studies Vol 4 No 2 (2023): JIEFeS, December 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i2.6473

Abstract

Underlying assets are one of the required instruments for issuing sukuk to attract investors to invest in the Sharia capital market. Green sukuk is one of the sharia investment instruments issued by companies for retail sukuk products and has the aim of obtaining funding through debt securities or securities to encourage the company's growth and development performance through underlying assets. This research aims to determine the effect of dividends and capital gains on the underlying assets in retail sukuk. This research method uses a quantitative method with a descriptive approach. In collecting data, the random sampling method was used, where the research determined the number of samples using the Slovin method to know the number of samples and determine the sample categories for distributing questionnaires. The results of dividend research do have a significant influence on underlying assets. Based on the graph, dividend distribution has increased every year, thereby influencing the growth performance of underlying assets. A company will be said to be good if the income it earns is greater than its expenses, so it affects the company's assets. While capital gains also have a significant effect on the underlying assets in retail sukuk, it does not rule out the possibility that they will be influenced by other factors that are related to capital gains.   Underlying aset merupakan salah satu instrumen yang diperlukan dalam penerbitan sukuk untuk menarik minat investor berinvestasi di pasar modal syariah. Green sukuk merupakan salah satu instrumen investasi syariah yang diterbitkan perusahaan untuk produk sukuk ritel dan bertujuan untuk memperoleh pendanaan melalui surat utang atau surat berharga untuk mendorong pertumbuhan dan perkembangan kinerja perusahaan melalui aset yang mendasarinya. Penelitian ini bertujuan untuk mengetahui pengaruh dividen dan capital gain terhadap underlying asset pada sukuk ritel. Metode penelitian ini menggunakan metode kuantitatif dengan pendekatan deskriptif. Dalam pengumpulan data digunakan metode random sampling, dimana penelitian menentukan jumlah sampel dengan menggunakan metode Slovin untuk mengetahui jumlah sampel dan menentukan kategori sampel untuk penyebaran kuesioner. Hasil penelitian dividen memang mempunyai pengaruh yang signifikan terhadap aset dasar. Berdasarkan grafik, pembagian dividen mengalami peningkatan setiap tahunnya sehingga mempengaruhi kinerja pertumbuhan aset dasar. Suatu perusahaan akan dikatakan baik apabila pendapatan yang diperoleh lebih besar dibandingkan dengan pengeluarannya, sehingga mempengaruhi kekayaan perusahaan. Meskipun capital gain juga berpengaruh signifikan terhadap aset dasar sukuk ritel, namun tidak menutup kemungkinan hal tersebut akan dipengaruhi oleh faktor lain yang terkait dengan capital gain.
Exploring the Dynamic Nexus between Indonesian Economic Forces and Islamic Banking Financial Performance Nora Ria Retnasih
Journal of Islamic Economics and Finance Studies Vol 4 No 2 (2023): JIEFeS, December 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i2.6581

Abstract

World economic uncertainty during the pandemic resulted in a decline in overall economic activity. This has an impact on the financial performance of Islamic banks, especially those related to business and consumer financing. Most customers face financial difficulties and ultimately have the potential for increased credit risk. So, there is a mutual connection between macroeconomic indicators and the financial performance of Islamic banks. This research aims to measure the magnitude of the influence of economic variables on the financial performance of Indonesian Sharia Banking for the period 2020 quarter 1 to 2022 quarter 4. The method used in this quantitative research is Panel Vector Autoregressive (PVAR). The research results show that the exchange rate significantly affects Islamic banks' financial performance. In the long term, exchange rate shocks positively impact the FDR and NPF variables, while the ROA and CAR variables give a negative response. The exchange rate also makes the largest contribution to all financial performance variables compared to interest rates and the consumer price index. The implication is for policymakers to always maintain domestic economic stability, especially the exchange rate. Exchange rate stability reflects price stability as measured by inflation and will have an impact on other economic indicators.   Ketidakpastian ekonomi dunia selama pandemi mengakibatkan penurunan aktivitas ekonomi secara keseluruhan. Hal ini berdampak pada kinerja keuangan bank syariah terutama yang terkait dengan pembiayaan bisnis dan konsumen.  Sebagian besar nasabah menghadapi kesulitan keuangan dan pada akhirnya berpotensi pada peningkatan resiko kredit. Sehingga terdapat keterikatan satu sama lain antara indicator perekonomian makro dan kinerja keuangan bank syariah. Penelitian ini bertujuan untuk mengukur besarnya pengaruh variabel ekonomi terhadap kinerja keuangan Perbankan Syariah Indonesia periode tahun 2020 triwulan 1 sampai dengan tahun 2022 triwulan 4. Metode yang digunakan dalam penelitian kuantitatif ini adalah Panel Vector Autoregressive (PVAR). Hasil penelitian menunjukkan bahwa nilai tukar berpengaruh signifikan terhadap kinerja keuangan bank syariah. Dalam jangka panjang guncangan nilai tukar memberikan dampak positif terhadap variabel FDR dan NPF, sedangkan variabel ROA dan CAR memberikan respon negatif. Selain itu, nilai tukar juga memberikan kontribusi paling besar terhadap seluruh variabel kinerja keuangan dibandingkan tingkat suku bunga dan indeks harga konsumen. Implikasinya bagi pengambil kebijakan untuk selalu menjaga stabilitas perekonomian dalam negeri, khususnya nilai tukar. Stabilitas nilai tukar mencerminkan stabilitas harga yang diukur dengan inflasi dan akan berdampak pada indikator perekonomian lainnya.
Community Empowerment Dynamics of Masjid-Based Bayt al-Mal: A Phenomenology Approach Aditya Pratama
Journal of Islamic Economics and Finance Studies Vol 4 No 2 (2023): JIEFeS, December 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i2.6618

Abstract

Historically, masjids were the center of government, education, and economy.  Nowadays there is an impression that Muslims are only busy to build the physical masjid and are not familiar with reality because Muslims tend to prioritize ceremonial rituals and underestimate the social functions of masjids. This study aims to assess the above assumptions and provide an overview of analytical reviews in capturing the phenomena of the management of masjid-based bayt al-mal. Thus, it can be well recognized the sides of excellence and weaknesses that may exist. This research uses qualitative methods with a phenomenological approach. The research found that there are four phenomena of management of masjid-based bayt al-mal in the Special Province of Yogyakarta namely providing people with social funds through bayt al-mal, empowering people through bayt al-mal, empowering communities not through bayt al-mal. This research emphasizes the evolving roles of masjids, extending beyond mere places of worship. The effectiveness of these multifaceted roles hinges on strong financial management, active fundraising, and transparent utilization of bayt al-mal funds. Training and professional management are also crucial for optimizing resources and building community trust. Masjids can serve as centers of community empowerment and positive social change when embracing their broader roles and responsibilities.   Secara historis, masjid adalah pusat pemerintahan, pendidikan, dan perekonomian. Saat ini ada kesan umat Islam hanya sibuk membangun fisik masjid dan tidak paham dengan kenyataan karena umat Islam cenderung mengutamakan ritual seremonial dan meremehkan fungsi sosial masjid. Penelitian ini bertujuan untuk mengkaji asumsi-asumsi di atas dan memberikan gambaran tinjauan analitis dalam menangkap fenomena pengelolaan masjid berbasis bayt al-mal. Dengan demikian, dapat diketahui dengan baik sisi keunggulan dan kelemahan yang mungkin ada. Penelitian ini menggunakan metode kualitatif dengan pendekatan fenomenologis. Penelitian ini menemukan bahwa terdapat empat fenomena pengelolaan bayt al-mal berbasis masjid di Daerah Istimewa Yogyakarta yaitu pemberian dana sosial kepada masyarakat melalui bayt al-mal, pemberdayaan masyarakat melalui bayt al-mal, pemberdayaan masyarakat tidak melalui bayt al-mal, -mal. Penelitian ini menekankan perubahan peran masjid, tidak hanya sekedar tempat ibadah. Efektivitas peran multifaset ini bergantung pada pengelolaan keuangan yang kuat, penggalangan dana yang aktif, dan pemanfaatan dana bay al-mal yang transparan. Pelatihan dan manajemen profesional juga penting untuk mengoptimalkan sumber daya dan membangun kepercayaan masyarakat. Masjid dapat berfungsi sebagai pusat pemberdayaan masyarakat dan perubahan sosial yang positif ketika menjalankan peran dan tanggung jawab mereka yang lebih luas.
Optimizing Digital Entrepreneurship Interest Among University Students: The Impact of SEHATI Program and Halal Certification in The Age of Social Media Suganda, Asep Dadan; Nawawi, Ma'mun; Suraya, Ismi
Journal of Islamic Economics and Finance Studies Vol 5 No 1 (2024): JIEFeS, June 2024
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v5i1.6672

Abstract

The university is committed to developing digital entrepreneurship among students, which is realized through concrete efforts in the classroom by integrating entrepreneurial and Sharia business learning and e-commerce and outside the classroom with digital marketing training programs for students. Despite having interest and potential in digital entrepreneurship, students may face limited access and knowledge related to the halal certification process. The SEHATI program, which offers free halal certification, can be a solution to overcome these barriers. However, the effectiveness of this program in increasing students' interest in digital entrepreneurship still needs to be investigated. This research was conducted to determine the influence of the free halal certification program (SEHATI) and social media on students' interest in digital entrepreneurship. This study uses descriptive analysis with a quantitative approach. Data collection is based on surveys and other relevant sources measuring digital entrepreneurial interest, participation in the halal certification program, and the level of social media use. Then, the multiple linear regression model is used with Significance Tests using T-test and F-test. The research results show that the SEHATI program and social media significantly influence students' interest in digital entrepreneurship both partially and simultaneously
Socio-Economic Determinants of Individual Muslim Zakat Payment Behavior in Indonesia Hapid Durohman; Fajar Adrian Sutisna; Muhammad Yuka Anugrah
Journal of Islamic Economics and Finance Studies Vol 4 No 2 (2023): JIEFeS, December 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i2.6715

Abstract

Zakat is one of the pillars of Islam and holds significant potential in Indonesia. However, the amount of zakat collected remains far below its potential. This disparity arises because many Muslims neglect zakat payment and perceive it as less important. Therefore, it is crucial to understand the socio-economic behaviors and factors influencing individual decisions to pay zakat. This research aims to investigate the determinants of socio-economic factors on individual zakat behavior. The data utilized is sourced from the Indonesian Family Life Survey (IFLS) conducted in 2014, focusing on individuals aged 15 and above. The study employs probit regression methodology to examine individual decisions regarding zakat payments, utilizing STATA 17 for analysis. The research findings statistically indicate that individuals with higher socio-economic status have a greater likelihood of paying zakat. This is evident from socio-economic variables, including gender, household size, age, home ownership, loans, years of schooling, income, religiosity, and occupation, all significantly influencing individual decisions to contribute to zakat. However, variables such as place of residence and marital status do not significantly affect individuals' decisions to pay zakat. Therefore, socio-economic factors play a crucial role in formulating strategies to enhance zakat fund collection. Zakat institutions can refer to socio-economic research to determine their strategies for maximizing the significant zakat potential in Indonesia. For instance, by targeting income levels, zakat institutions can develop awareness programs for individuals with higher incomes, accelerating zakat fund collection in alignment with its substantial potential.   Zakat adalah salah satu pilar Islam dan memiliki potensi besar di Indonesia. Namun, jumlah zakat yang terkumpul masih jauh di bawah potensinya. Ketidaksetaraan ini muncul karena banyak Muslim yang mengabaikan pembayaran zakat dan menganggapnya kurang penting. Oleh karena itu, sangat penting untuk memahami perilaku sosial-ekonomi dan faktor-faktor yang memengaruhi keputusan individu untuk membayar zakat. Penelitian ini bertujuan untuk menyelidiki faktor-faktor sosial-ekonomi yang memengaruhi perilaku zakat individu. Data yang digunakan berasal dari Indonesian Family Life Survey (IFLS) yang dilakukan pada tahun 2014, dengan fokus pada individu yang berusia 15 tahun ke atas. Studi ini menggunakan metodologi regresi probit untuk menguji keputusan individu tentang pembayaran zakat, dengan menggunakan STATA 17 untuk analisis. Temuan penelitian secara statistik menunjukkan bahwa individu dengan status sosial-ekonomi yang lebih tinggi memiliki kemungkinan yang lebih besar untuk membayar zakat. Hal ini terlihat dari variabel sosial-ekonomi, termasuk jenis kelamin, ukuran rumah tangga, usia, kepemilikan rumah, pinjaman, tahun-tahun sekolah, pendapatan, religiusitas, dan pekerjaan, yang semuanya secara signifikan memengaruhi keputusan individu untuk berkontribusi pada zakat. Namun, variabel seperti tempat tinggal dan status pernikahan tidak secara signifikan memengaruhi keputusan individu untuk membayar zakat. Oleh karena itu, faktor-faktor sosial-ekonomi memainkan peran penting dalam merumuskan strategi untuk meningkatkan pengumpulan dana zakat. Institusi zakat dapat merujuk pada penelitian sosial-ekonomi untuk menentukan strategi mereka dalam memaksimalkan potensi zakat yang signifikan di Indonesia. Sebagai contoh, dengan melihat tingkat pendapatan, institusi zakat dapat mengembangkan program-program kesadaran untuk individu dengan pendapatan lebih tinggi, mempercepat pengumpulan dana zakat sesuai dengan potensi yang substansial.
Designing Ziswaf-Based Financing Model for Enhancing Micro, Small, and Medium Enterprises Lili Puspita Sari; Ade Nur Rohim; Fadhli Suko Wiryanto; Dzaky Ammar Fauzi
Journal of Islamic Economics and Finance Studies Vol 4 No 2 (2023): JIEFeS, December 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i2.6822

Abstract

Micro, Small, and Medium Enterprises (MSMEs) are important in advancing the economy. However, among some existing MSME actors, many of them face obstacles in developing their businesses. Some of those obstacles are the lack of competence and expertise, the lack of business networks, and the limited amount of capital. This research aims to design the development of a sharia financing model based on using zakat, infaq, sadaqah, and waqf (ziswaf) funds to develop MSMEs. This research uses qualitative methods by analyzing various data collected from several works of literature related to ziswaf and MSME studies. This research produces a design model for integrated ziswaf management in the MSME development program. This model describes the process flow starting from collecting ziswaf funds, with a distribution process that is adjusted to the characteristics of the funds. ZIS funds are channeled to the procurement of goods and business equipment, as well as to capacity-building programs for MSMEs. The waqf funds are distributed in the form of business capital investment with a mudharabah agreement. The profits received are given to the nazhir according to the agreement, to be managed by the nazhir, and distributed to the mauquf alaih. The entire process is carried out with supervision and monitoring to maintain conformity of procedures with existing rules and regulations. It is hoped that this model can become a new direction for the development of MSMEs by optimizing ziswaf funds in an integrated manner.   Usaha Mikro, Kecil, Menengah (UMKM) merupakan unit ekonomi yang penting dalam memajukan perekonomian. Namun, di antara sejumlah pelaku UMKM yang ada, banyak dari mereka menghadapi kendala dalam pengembangan usahanya. Di antara kendala yang dihadapi antara lain terkait minimnya kompetensi dan keahlian, minimnya jejaring usaha, hingga jumlah modal yang terbatas. Penelitian ini bertujuan untuk mendesain pengembangan model pembiayaan syariah berbasis pemanfaatan dana zakat, infak, sedekah, dan wakaf untuk pengembangan UMKM. Penelitian ini menggunakan metode kualitatif dengan menganalisis berbagai data yang dihimpun dari beberapa literatur terkait kajian ziswaf dan UMKM. Penelitian ini menghasilkan sebuah rancangan model pengelolaan ziswaf terintegrasi pada program pengembangan UMKM. Model tersebut menggambarkan alur proses yang dimulai dari penghimpunan dana ziswaf, dengan proses penyaluran yang disesuaikan dengan karakteristik dana. Dana ZIS disalurkan pada pengadaan barang dan perlengkapan usaha, serta pada program peningkatan kapasitas pelaku UMKM. Adapun dana wakaf disalurkan dalam bentuk investasi modal usaha dengan akad mudharabah. Keuntungan yang diterima diberikan kepada nazhir sesuai dengan kesepakatan, untuk nantinya dikelola oleh nazhir dan disalurkan kepada para mauquf alaih. Keseluruhan proses tersebut dilakukan dengan pengawasan dan monitoring untuk menjaga kesesuaian prosedur dengan aturan dan ketentuan yang ada. Model ini diharapkan dapat menjadi arah baru pengembangan UMKM dengan mengoptimalkan dana ziswaf secara terintegrasi.
Welfare Analysis Through Human Development Index with Maqasid Sharia Approach Prima Dwi Priyatno; Fitri Yetty; Lili Puspita Sari; Ahmad Zahran Rizqulloh
Journal of Islamic Economics and Finance Studies Vol 4 No 2 (2023): JIEFeS, December 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i2.6831

Abstract

The existing Human Development Index (HDI), published by UNDP may be the most comprehensive indicator. Even though, it is not fully compatible and sufficient to measure human development from an Islamic perspective. The purpose of this study is to analyze the Human Development Index in Indonesia with the maqasid sharia approach using several indicators that include crime, life expectancy, long school expectancy, average length of schooling, births, infant mortality, and per capita expenditure. The measurement results show variations in I-HDI from year to year, with the highest value in 2022 and the lowest in 2021. The I-HDI categorization classifies 2017, 2018, 2019, and 2022 as very high categories, while 2020 and 2021 are in the high category. The factors that make up I-HDI are divided between the Material Welfare Index (MWI) and the Non-Material Welfare Index (NWI). Although MWI showed low numbers, NWI made a significant positive contribution. NWI has a dominant role, with the highest score in 2017 and an average of 83.58 percent. This finding implies that Non-Material Welfare is a key factor in shaping I-HDI in Indonesia. These conclusions can be used as a basis for formulating more effective development policies, reinforcing aspects that are considered lacking, and providing guidance for future policy considerations.   Indeks Pembangunan Manusia (IPM) yang diterbitkan oleh UNDP dapat menjadi indikator yang paling komprehensif. Namun, alat ukur tersebut tidak sepenuhnya kompatibel dan memadai untuk mengukur pembangunan manusia jika ditinjau dalam perspektif Islam. Tujuan penelitian ini adalah menganalisis Indeks Pembangunan Manusia di Indonesia dengan pendekatan maqashid syariah yang meliputi beberapa indikator seperti kriminalitas, angka harapan hidup, lama sekolah, rata-rata lama sekolah, kelahiran, kematian bayi, dan pengeluaran per kapita. Hasil pengukuran menunjukkan adanya variasi I-HDI dari tahun ke tahun, dengan nilai tertinggi pada tahun 2022 dan terendah pada tahun 2021. Kategorisasi I-HDI mengklasifikasikan tahun 2017, 2018, 2019, dan 2022 dalam kategori sangat tinggi, sedangkan tahun 2020 dan 2021 termasuk dalam kategori tinggi. Faktor-faktor pembentuk I-HDI terbagi menjadi Indeks Kesejahteraan Material (MWI) dan Indeks Kesejahteraan Non-Material (NWI). Meski MWI menunjukkan angka yang rendah, namun NWI memberikan kontribusi positif yang signifikan. NWI mempunyai peran dominan dengan skor tertinggi pada tahun 2017 dan rata-rata mencapai 83,58 persen. Implikasi dari temuan ini menunjukkan bahwa kesejahteraan non-material menjadi faktor kunci dalam pembentukan I-HDI di Indonesia. Kesimpulan tersebut dapat dijadikan landasan untuk merumuskan kebijakan pembangunan yang lebih efektif untuk memperkuat aspek-aspek yang dianggap kurang optimal, dan memberikan pedoman pertimbangan kebijakan di masa depan.
The Urgency of Financial Literacy in Hajj Funds Management for Indonesian Muslims Sarka, Susi Indriani; Osman , Ahmad Zamri; Annuar , Hairul Azlan
Journal of Islamic Economics and Finance Studies Vol 5 No 1 (2024): JIEFeS, June 2024
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v5i1.7302

Abstract

It was not widely known by the public that the cost of performing the hajj exceeded the predetermined Cost of the Hajj Travel (Biaya Perjalanan Ibadah Haji/BIPIH) set by the government. Although the government plays a role in subsidizing the cost of pilgrimage organizing (Biaya Penyelenggaraan Ibadah Haji/BPIH), the actual calculation is never shared with the public, leaving many in the dark. Indonesian Muslims must be educated about the importance of financial literacy. This article aims to provide a comprehensive understanding of Hajj, shedding light on the Muslim perspective in Indonesia regarding Hajj and its management. This comprehension will empower the community to approach matters with reason and facilitate their involvement in monitoring the management of Hajj funds. The concept of Hajj's financial literacy aims to address the communication gap in managing Hajj funds. The proposed solution is continuous education and stimulation actions that functioned in fostering a sense of novelty and raising public trust in the community. The Ministry of Religion, the Ministry of Education, and community-accessible institutions such as the police (e.g., Babinsa) and Indonesian National Army (Tentara Nasional Indonesia/TNI), as well as religious leaders, mass organizations, and other members of society, should work together to shift society's mindset.
Analysis of Sharia-Based Hotels on Sustainable Tourism in West Sumatera Indonesia Bundo, Mayang; Pratama, Fahmi Achta
Journal of Islamic Economics and Finance Studies Vol 5 No 1 (2024): JIEFeS, June 2024
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v5i1.7378

Abstract

Tourism is a potential sector in the world, especially halal tourism which is a potential market for Muslim tourists, especially Indonesia, and more specifically West Sumatera. Because this province has the potential for halal tourism because it is included in the halal destinations listed in the 2015/2025 National Tourism Development Master Plan (Rencana Induk Pembangunan Kepariwisataan Nasional/Ripparnas). Furthermore, one of the sub-subs of halal tourism is sharia-based hotels which support tourists to stay overnight. Then, in tourism theory there is the term sustainable tourism, tourism that has an effect on economic, environmental and social aspects. The aim of this research is to scientifically determine the influence of Sharia-based hotels on sustainable tourism development in West Sumatera. This research is combination research that used mixed method. Quantitative method using questionnaires and also qualitative using analytical descriptive. The research results show that Sharia-Based Hotels have a positive influence on Sustainable Tourism in West Sumatera, including economic, environmental and social aspects. The increase in Sharia-Based Hotels is directly proportional to the increase in Sustainable Tourism.
The Determinants of Financial Stability of Islamic Banks in ASEAN Wasilatur Rohimah; Oktaviana, Ulfi Kartika
Journal of Islamic Economics and Finance Studies Vol 5 No 1 (2024): JIEFeS, June 2024
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v5i1.7383

Abstract

Financial stability is one of the drivers of economic growth, while Islamic banking currently dominates in global economic competition compared to other Islamic finance industry. Therefore, it is necessary to investigate the aspects that can affect the financial stability of Islamic banks. The purpose of this study is to analyze how capital structure, profitability, efficiency, and technology affect the financial stability (Z-Score) of Islamic banks in the ASEAN region. The study employs a panel data regretion. It utilizes documentation techniques such as the financial reports of each bank and other publicly available data. Sample selection is done through purposive sampling, resulting in a sample of 19 Islamic banks in ASEAN. The research concludes that capital structure significantly and positively influences stability, while efficiency has no impact on stability, and the financial soundness of ASEAN's Islamic banks is significantly impacted negatively by technology and profitability. Based on the findings of this research, the Islamic banks are required to pay more attention to the management of funds obtained from profitability as well as fund management for technology needs so as not to affect the financial stability of Islamic banks in ASEAN.

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