AL-ARBAH: Journal of Islamic Finance and Banking
AL-ARBAH: Journal of Islamic Finance and Banking is a peer-reviewed journal, published biannually by Department of Sharia Banking, Faculty of Islamics Economics and Business, Universitas Islam Negeri (UIN) Walisongo Semarang Indonesia. This journal is peer-reviewed journal by English language published twice a year (October and April) and specializes in Islamic Finance, Islamic Banking, and Islamic Finance Institutions.
Articles
118 Documents
<![CDATA[Islamic Economic Concepts To Form Community Welfare From The Perspective Of Ibnu Khaldun's Thinking ]]>
<![CDATA[Nurcahyo, Satria Avianda]]>;
<![CDATA[Isnawati, Setya Indah]]>;
<![CDATA[Widagdo, Teguh Harso]]>;
<![CDATA[Rizal, Achmad]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol 6, No 1 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2024.6.1.21060
<![CDATA[Purpose - This research aims to review Ibn Khaldun's thoughts regarding social welfare, Ibn Khaldun revealed that Allah outlined economic activities as an inseparable part of the social responsibilities that exist in society, and their incompleteness could threaten the continuity of world life and human existence.Method - This research is using a type of normative research, applying a library approach and a conceptual approach.Result - The result of this research indicates Ibnu Khaldun stated that Allah established muamalah activities as an integral form of responsibility in community life. Non-fulfillment can threaten world life and human welfare. In formulating three basic reasons for engaging in economic activity, Ibnu Khaldun explains that this is not only about fulfilling personal life needs. Ibnu Khaldun believes that the price of a good or service is influenced by the dynamic interaction between demand and supply. This concept highlights the interrelated relationship between the forces of demand and supply in determining the value of a product or service. Implication - This study It is hoped that there will be management and supervision of market prices by the state in the field, as suggested by Ibn Khaldun in his great work Muqadimmah.Originality - In the economic context, Ibnu Khaldun also highlighted the importance of government vigilance regarding the amount of money in circulation. ]]>
<![CDATA[Analysis of Factors Influencing the Existence of Baitul Maal wa Tamwil (BMT) ]]>
<![CDATA[Trihudiyatmanto, M.]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2023.5.2.18056
<![CDATA[Purpose - This study aims to see the effect of regulation, supervision, institutional capacity on the existence of BMTs in Wonosobo. The data used in this study by distributing questionnaires directly to BMT employees in Wonosobo.Method - The population in this study were all 291 BMT employees. After passing the probability sampling, the sample in this study were 74 employees who worked at BMT Wonosobo. The analytical method used in this study is multiple linear regression, then using descriptive statistical tests, validity tests, reliability tests, goodness of fit tests, classic assumption tests which include: normality test, multicollinearity test, heteroscedasticity test, and hypothesis testing including coefficient test determination and significant test of the regression coefficient with a significance f of 5%.Result - The results of this study indicate that regulation, supervision, and capacity have a positive effect on the existence of BMT.Implication - The results of this study are expected to provide benefits to companies, to contribute to the factors that influence the existence of BMT so that they can make the right decisions and policies to make them more optimal.Originality- Research on assessment Existence of BMT with view of regulation and supervision. ]]>
<![CDATA[Investigating the Impact of Accountability, Religiosity, and Waqf Literacy on Community Interest in Cash Waqf ]]>
<![CDATA[Nurjanah, Suci]]>;
<![CDATA[Fithria, Annisa]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol 6, No 1 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2024.6.1.20896
<![CDATA[Purpose - According to Government Regulation Number 28 of 1977 Article 1 (1), waqf is a legal act by an individual or legal entity that separates a portion of their wealth in the form of land and dedicates it for worship purposes or other public interests in accordance with Islamic teachings. The potential for waqf in Indonesia is estimated to reach 180 trillion. In 2022, there was an increase amounting to 1.4 trillion rupiah compared to the proceeds from cash waqf from 2018 to 2021, which stood at 855 billion rupiah. This research aims to analyze the impact of accountability, religiosity, and waqf literacy on the cash waqf interest of the community.Method - A sample of 102 respondents was obtained using the convenience sampling technique. The data analysis technique in this study is multiple linear regression analysis.Result - This research yields findings indicating that accountability and religiosity positively and significantly influence the community's interest in participating in cash waqf. Conversely, waqf literacy exhibits an insignificant impact on the community's interest in engaging in cash waqf.Implication - This study uses information collected from muslim communities in Indonesia to assess their interest in cash waqf.Originality - This study provides insights into the significance of accountability disclosure by waqf institutions and the level of religiosity in influencing an individual's interest in engaging in waqf activities. The results of this research can serve as a foundation for academics, waqf institutions, and government entities to enhance waqf literacy among the public. This effort is crucial for the continued growth and optimization of waqf potential in Indonesia.]]>
<![CDATA[Dividend Discount Model Theory Implementation Based On Maqashid Shariah In Indonesia Shariah Stock Market ]]>
<![CDATA[lulukiyyah, Masdaliyatul]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol 6, No 1 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2024.6.1.22796
<![CDATA[Purpose - The purpose of this article is to explore how the use of the Dividend Discount Model (DDM) can be enriched by taking into account the principles of Maqashid Syariah and the economic thinking of Imam Al-Ghazali.Method - This research uses a literature review method with a qualitative descriptive approach. Data was obtained through a study of relevant literature with a focus on the Dividend Discount Model (DDM), the concept of Maqashid Syariah, and the economic thought of Imam Al-Ghazali.Result - The results of the analysis show that the integration of the Dividend Discount Model (DDM) with the Maqashid Syariah concept and Imam Al-Ghazali's economic thinking can provide a more holistic approach and in accordance with Islamic values in evaluating share value in the Islamic capital market. This approach emphasizes the importance of taking into account aspects of social and spiritual benefit, as well as contributing to inclusive and sustainable economic development.Implication - The implication of this research is that the use of the Dividend Discount Model (DDM) which is enriched with the Maqashid Syariah concept and Imam Al-Ghazali's economic thinking can help improve the performance of the Islamic capital market and strengthen compliance with Islamic principles in economic activities. This can have a positive impact on community welfare and sustainable economic development in Indonesia.Originality- The integration of the Dividend Discount Model (DDM) with the Maqashid Syariah concept and Imam Al-Ghazali's economic thinking is an innovation that can increase our understanding of the relationship between religious values and economic practices. ]]>
<![CDATA[The Role of CSR (Corporate Social Responsibility) in reducing Reputation Risk due to Covid-19 For Islamic Financial Institutions in Indonesia ]]>
<![CDATA[Ekawati, Wiwin Erna]]>;
<![CDATA[Manora, Novfitri Landong]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol 5, No 2 (2023) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2023.5.2.18060
<![CDATA[Purpose - This study aims to analyze the effect of CSR programs carried out by Islamic banking companies on reducing reputation risk by covid 19.Method - This study uses a literature study approach to answer the research objectives. The literature study conducted in this research is a form of research conducted by collecting journal articles with themes according to the research objectives, namely reviewing the definition and importance of implementing reputation risk management in Islamic Financial Institutions.Result - The result of this research indicates that Islamic banks have a higher reputation risk than conventional banks because apart from looking at the operational aspects, the public also sees the spiritual aspects of Islamic banks in carrying out their operations.Implication - This study uses the data from scientific journal articles available online with the help of search engines, google scholar. Source of data derived from two sources, namely: primary data derived from journals on Islamic Economics, Islamic Corporate Social Responsibility and articles on covid -19, as well as reliable readings that can support this research.Originality- Relaxation of financing facilities for customers affected by the Covid-19 virus pandemic in the form of postponement of payments and/or granting of margin/profit sharing relief whose terms and conditions are adjusted to the economic sector, criteria, and customer conditions while still referring to OJK regulations. ]]>
<![CDATA[Artificial Intelligence: Making crime easier in the world of finance? ]]>
<![CDATA[Hasan, Zulfikar]]>;
<![CDATA[Marisna, Diska Sendi]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol. 6 No. 2 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2024.6.2.22187
<![CDATA[Purpose – This paper explores the dual role of artificial intelligence (AI) in the realm of finance, examining its potential to both enhance efficiency and exacerbate vulnerabilities to criminal activitiesMethod – The research methodology for this study focuses on exploring the relationship between artificial intelligence (AI) and its potential role in facilitating financial crimes. This section outlines the research design, data collection methods, data analysis techniques, and ethical considerationsResult – As AI technologies become increasingly integrated into financial systems, they offer unprecedented opportunities for streamlining operations, optimizing decision-making processes, and enhancing customer experiences. However, this digital transformation also presents new challenges, particularly in terms of security and fraud preventionImplication – By leveraging advanced algorithms and machine learning techniques, malicious actors may exploit AI-powered systems to perpetrate financial crimes with greater sophistication and scaleOriginality – This paper evaluates the implications of this evolving landscape, highlighting the need for robust regulatory frameworks, proactive risk management strategies, and ongoing collaboration between industry stakeholders and law enforcement agencies to mitigate the risks associated with AI-enabled financial crime]]>
<![CDATA[Detection of Sharia and Non-Sharia Stock Price Volatility Through Financial Performance and Firm Size Analysis (Comparative Study of LQ45 and JII30) ]]>
<![CDATA[Nani, Nani]]>;
<![CDATA[Syarifudin, Efi]]>;
<![CDATA[Mabruroh, Ahda Inayati]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol. 6 No. 2 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2024.6.2.22206
<![CDATA[Purpose - This research aims to estimate the magnitude of the influence of assets measured using firm size and company profits measured by financial performance on the volatility of Sharia and non-sharia stock prices. Through this research, it is hoped that investors will be able to assess the company's achievements and anticipate investment failures in the future.Method - Quantitative research using a regression analysis approach by comparing two research subjects, namely non-shariah shares LQ45 and sharia shares JII30. This data collection is complemented by library research.Result - The results obtained are that Financial Performance and Firm Size have an influence on share price volatility, in both Sharia and non-sharia stocks. In general, these two stocks found fluctuating data on Financial Performance and Firm Size, followed by rises and falls in share prices. This study is proven by theoretical results, statistical analysis results, and financial data recapitulation results.Implication - The existence of a significant relationship between these variables provides information for investors in making investment decisions, where fundamental analysis can be carried out by looking at the financial reports of the target company (issuer) without forgetting the analysis of Financial Performance and Firm Size data.Originality - Research comparing Sharia and non-sharia stock indices is still rarely done because many previous studies only focused on one index.]]>
<![CDATA[Asymmetric impact of stokvel and banking sector efficiency in South Africa: Evidence from non-linear ARDL approach ]]>
<![CDATA[Ngcobo, Lindiwe]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol. 6 No. 2 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2024.6.2.23068
<![CDATA[This study examines the impact of stokvel savings and banking sector efficiency in South Africa using the non-linear autoregressive distributed lag (NARDL) bound testing approach technique with economic time series data ranging from 2009Q4 to 2020Q2. The NARDL results shows that positive and negative shocks on banking sector efficiency exhibited a positive influence on stokvel savings. An improvement in banking sector efficiency would result in an increase in stokvel savings of approximately 0.33%, while a decline in banking sector efficiency would lead to increase in stokvel savings albeit at a marginally reduced level of approximately 32%. The results are statistically significant at 1% and 5% for a positive shock and a negative shock respectively. Insignificant results obtained when using gross domestic product growth as dependent variable. This implies that the N-ARDL is not an appropriate model for estimating GDPG. Statistically significant results were found at 5% when using money supply.]]>
<![CDATA[Cryptocurrency as an Islamic Financial Entity: The Nahdliyin’s Istinbath Fiqh Approach ]]>
<![CDATA[Suhirman, Suhirman]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol. 6 No. 2 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2024.6.2.23548
<![CDATA[Penelitian ini bertujuan untuk mengungkap dan menjelaskan kemungkinan cryptocurrency menjadi entitas keuangan islami yang ditinauh dari perspektif metode istinbath al-ahkam (fiqh) yang digunakan oleh Kaun Nahdliyin di Lembaga Bahtsul Masail (LBM) Nahflatul Ulama. Penelitian ini merupakan penelitian kualitatif yang didesain secara deskriptif-analitis. Data yang digunakan adalah data primer dan sekunder. Data primer berupa keputusan Muktamar, Munas, dan Konbes yang berkaitan dengan metode istinbath al-ahkam (fiqh) yang dilakukan oleh PBNU. Sedangkan data sekunder merupakan data tentang istinbat hukum yang digali dari hasil pemikiran ilmiah tokoh-tokoh NU yang tersebar dalam berbagai media dan portal karya ilmiah. Analisis data dilakukan secara kualitatif disajikan sebagai konten yang menjelaskan tentang fokus permasalahan. Penelitian ini menunjukkan bahwa model metode istinbath al-ahkam (fiqg) Kaum Nahdliyin sangat memungkinkan untuk menghukumi cryptocurrency sebagai entitas keuangan yang disepakati kehalalannya, sesuai dengan prinsip-prinsip syariah.Kata Kunci – kaum nahdliyin, istinbath al-ahkam, cryptocurrency, entitas keuangan, islami.]]>
<![CDATA[Study of Financial Services Authority Policies in Dealing with Corona Virus Disease (Countercyclical) ]]>
<![CDATA[Yuningrum, Heny]]>;
<![CDATA[Aslamiyah, Saibatul]]>
<![CDATA[ AL-ARBAH: Journal of Islamic Finance and Banking Vol. 6 No. 2 (2024) ]]>
Publisher : <![CDATA[Universitas Islam Negeri (UIN) Walisongo Semarang ]]>
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DOI: 10.21580/al-arbah.2024.6.2.23552
<![CDATA[Purpose -The purpose of this study is to examine the policies determined by the Indonesian Financial Services Authority (OJK) in handling the Corona Virus Pandemic in 2020-2022. Where the policy was made to overcome financing problems so that there would be no bad credit in the following year. Method-The research methods used in this study are qualitative methods by outlining 9 OJK policies in the form of countercyclical.. Result-The results of the study show that there are changes in the policies that have been set by the OJK, including: Extension of the Payment Period for Financing, Affiliate Transactions and Conflict of Interest Transactions extended from a maximum of 6 (six) months to a maximum of 8 (eight) months, there is an increase in Public Company Capital by Granting Preemptive Rights, Public Companies experiencing certain financial conditions as a result of the COVID-19 pandemic can increase capital without granting HMETD in order to improve their financial position and aand the addition of other financial servicesprovider of information technology-based money lending services. Implication - This study provides information to the public and policy observers made by OJK. This information can be a future analysis for policy makers if the pandemic problem occurs again. Originality-This research has the authenticity written by the researcher by analyzing the policies issued by the OJK in overcoming the problem of bad financing due to the Covid Pandemic. The criteria chosen by the researcher also chose the OJK Regulation which specifically discusses the problem of problematic financing during the Covid pandemic.Keywords: PJOK Regulation No. 11/POJK.03/2020, Problematic financing, covid 19]]>
