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Journal of Islamic Economic and Business Research

jiebr
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Published by Universitas Muhammadiyah Yogyakarta

ISSN : 27981207 EISSN : 27981304 DOI : https://doi.org/10.18196/jiebr

Core Subject : Religion, Economy,

Religion Economics, Econometrics & Finance

Journal of Islamic Economic and Business and Research is a scientific journal which has specialization of research in Islamic Economic and Business Research. Islamic Economic and Business Research is strategic issues in the world because its role and benefit to societies. Therefore, this issue need more deelpy extractive through a research. We hope that JIEBR can collect all of researchers or academicians to contribute their ideas as a solution to increase the developing of Islamic Economic and Business research in this world. Research publications in JIEBR covers various topics about Islamic Economics, Islamic Philanthropy, Halal Industry, Islamic Finance, Islamic Business Management, Entrepreneurship, and other relevant topics.

Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)

Articles 8 Documents

Search results for , issue "Vol. 1 No. 2: December 2021" : 8 Documents clear

Digital Zakat Fundraising in Times of Covid-19 Pandemic: Evidence from BAZNAS, Indonesia Zulfikar Hasan; Kamiluddin Kamiluddin
Journal of Islamic Economic and Business Research Vol. 1 No. 2: December 2021
Publisher : Universitas Muhammadiyah Yogyakarta

This research analysed the impact of COVID19 on zakat institutions. The COVID19 outbreak forced policymakers to issue various innovations to manage the pandemic consequences. BAZNAS of the Republic of Indonesia has introduced its digital zakat platforms to facilitate muzaki in performing zakat. The collection of zakat funds at BAZNAS of the Republic of Indonesia has increased despite the COVID19 pandemic. This study employed a qualitative method by analyzing primary and secondary data. The results of this study concluded that the role of digital technology during the pandemic to collect zakat funds greatly facilitates muzaki. Besides that, it has received full support from the MUI (Indonesian Ulema Council) and the government. Hopefully, typical research like this that can raise more themes about the role of zakat during the COVID19 pandemic.

Examining Maqasid Sharia Attainment: Case of Financing Products of Bank Muamalat Indonesia Loni Hendri
Journal of Islamic Economic and Business Research Vol. 1 No. 2: December 2021
Publisher : Universitas Muhammadiyah Yogyakarta

The objective of the Islamic Bank is still profit-oriented while the Islamic economy, as the mother of the Islamic Bank, has the orientation to obtain the maqasid sharia that agreed as social well-being, which can not always be obtained by profit alone. The first pure sharia Islamic Bank in Indonesia is Bank Muamalat. As the first bank purely shariah, Bank Muamalat commit to promoting services that not only comply with sharia but are also competitive and accessible for entire citizen. Based on this background, this research aimed to evaluate financing products of Bank Muamalat by using the framework of maqasid limited to aspect of justice. This research was descriptive-qualitative using secondary data such as financial statements, types of Bank Muamalat financing products acquired from the Bank Muamalat site and brochure. Results of this research showed that financing products of Bank Muamalat could be considered as the attainment of maqasid sharia because those products are dominantly provided in the equity-based contract. But, the conditions determined for the equity-based contract in Bank Muamalatâ€™s financing products make them considered as not promoting maqasid sharia.

Linking Person Job Fit, Person Organization Fit and Organizational Culture to Employee Performance in Islamic Banks: the Mediating Role of Job Motivation Windy Delvyana Wulandari
Journal of Islamic Economic and Business Research Vol. 1 No. 2: December 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Adaptability to the work environment affects employee's work attitude in the organization. This ability can be seen from the influence of person job fit, person organization fit, and organizational culture accumulating into employee work motivation. This study aims to examine the effect of person job fit, person organization fit and organizational culture on employee performance with work motivation as a mediating variable. The object of this research was BPRS Madina Yogyakarta and BPRS Bangun Drajat Warga Yogyakarta. In this quantitative research, the data were collected through a questionnaire distributed to employees of the two BPRS. The questionnaire involved 65 respondents and was analyzed using the SPSS 23. The results showed a positive influence between person job fit on work motivation, person organization fit had no effect on work motivation, organizational culture had a positive effect on work motivation, work motivation had an effect on positive effect on employee performance, person job fit brought a positive effect on employee performance, person organization fit had no effect on employee performance, and organizational culture had no positive effect on employee performance.

Riba (Interest) Between Reason and Revelation in Islam Saheed Afolabi Ashafa
Journal of Islamic Economic and Business Research Vol. 1 No. 2: December 2021
Publisher : Universitas Muhammadiyah Yogyakarta

This paper discussed the opposing views of Reason (human intellect) and Revelation (Islamic thought) on the concept and practice of Ribá¾± (interest). As it is known that ribá¾± is a universal instrument engaged for economic practices, while revelation, particularly Islam, prohibits it. In this study, arguments from both thoughts are placed side by side using primary and secondary sources. In this regard, the study adopted a descriptive qualitative research design for elucidation. It examined and established the relationship between reason and revelation as well as the areas of departure from each other. The study found out that riba-based economic practice has not been favorable to the course of development across the globe, hence the frequent shift from higher to lower interest rates by various countries. Consequently, Islamic alternatives to ribá¾± were presented with a view to safeguarding the faith and socio-economic status of the adherents of Islam. Research-based recommendations were offered for necessary adjustment by stakeholders. Optimistically, the submission of this study will stimulate a positive response from the stakeholders.

A Case Study of Islamic Financial Institutions of Pakistan: Challenges & Growth Nadiya Shahzad
Journal of Islamic Economic and Business Research Vol. 1 No. 2: December 2021
Publisher : Universitas Muhammadiyah Yogyakarta

The purpose of this research paper was to find the growth of Islamic financial institutions for the economic development of Pakistan. Also, this study highlighted issues and constraints against the growth of Islamic banking in Pakistan. Islamic banking was based on the current model of products of conventional banking to achieve the general objectives of Islamic economic that was insufficient and based on the fair distribution of economic profits and render the Islamic financing more efficient from their conventional equivalents. The study contained major issues such as lack of treasury and liquidity risk management, regulatory, legal and tax environment, several interpretations of Sharia ruling, lender of last resort facility, lack of Sukuk offered in secondary markets. The study found that in Pakistan, the growth and development of Islamic financial institutions were very low compared to other Muslims and non-Muslim countries need to improve the performance of the Islamic banks' mode, and it is not too late to plan on those constraint strategies and implantation to avoid those constraints. This study will facilitate privileged management to lay down policies so that the Islamic banking operations develop low-income countries such as Pakistan.

Financing Entrepreneurship in Post-Covid-19 Era: The Islamic Banking and Finance Option AbdulFattah AbdulGaniyy; Ibraheem Alani AbdulKareem; Aminu AbdulRaheem
Journal of Islamic Economic and Business Research Vol. 1 No. 2: December 2021
Publisher : Universitas Muhammadiyah Yogyakarta

Entrepreneurship is the bedrock that propels the development and growth of the economy. Unfortunately, access to finance is the major obstacle faced by entrepreneurs. Conventional banking does not support innovative and dynamic ideas driven by entrepreneurs. They are required to pay back loans with interest collected from conventional banks without regard to the success or failure of their venture. Islamic bank has come to the rescue of entrepreneurs through its inventive Profit and Loss Sharing (PLS) products and services. The objective of this study was to highlight features and products of Islamic banking and finance that are suitable for entrepreneurship. The study was a conceptual and adopted method of reviewing existing literature on financing entrepreneurship and its challenges. The authors concluded that Islamic finance provides a better alternative to conventional finance and provides stability and sustainability to entrepreneurs. The study recommended that government should support and encourage entrepreneurs to cooperate with Islamic banks. There should be continuous public education, especially of the youth on skill acquisition through entrepreneurship centers. The study has implications for the government, policymakers and other stakeholders responsible for providing palliatives to the citizens in the post-covid-19 pandemic. Islamic finance is more aligned and supportive of entrepreneurship, especially through its profit and loss sharing financing.

Comparative Study of Banks in The Perspective of Syafruddin Prawiranegara and M. Syafii Antonio Muhammad Amin Azis; Muhsin Hariyanto
Journal of Islamic Economic and Business Research Vol. 1 No. 2: December 2021
Publisher : Universitas Muhammadiyah Yogyakarta

The Law of Bank Interest is a complicated issue in Islamic economics because there are differences of opinion among Muslim scholars and intellectuals. This can not be separated from the observations of Indonesian Muslim economists such as Syafruddin Prawiranegara, who thinks bank interest is permissible, while M. Syafii Antonio believes bank interest is haram (forbidden in Islam). This research is entitled "Comparative Study of Banks in the Perspective of Syafruddin Prawiranegara and M. Syafii Antonio". This study aims to determine the views of Syafruddin Prawiranegara and M. Syafii Antonio regarding bank interest and examine the differences, similarities and backgrounds of their opinions. This type of research is library research with qualitative methods. The data analysis technique was carried out by means of deductive-comparative, in which this research first explains the arguments of the two figures regarding usury and bank interest then compared with the comparative method. The results of this study are 1. Syafruddin Prawiranegara believes Interest cannot be equated with usury. According to him, the difference of opinion regarding bank interest is due to a misinterpretation of the function of money. 2. M. Syafii Antonio is of the opinion that the law of bank interest is the same as usury. To stipulate the law on interest, it is necessary to comprehensively understand the stages of the derivation of the verses of usury. 3. The difference of opinion between the two is seen from the results of ijtihad (making a decision based on Islamic law) and the istinbath methods.

Islamic Banking Products and Economic Development in Nigeria: A Co-Integration Approach Habeeb Olaniyi Olayiwola
Journal of Islamic Economic and Business Research Vol. 1 No. 2: December 2021
Publisher : Universitas Muhammadiyah Yogyakarta

The authorization of Taj Bank Limited to operate Islamic banking in Nigeria has reiterated the relevance of Islamic banking products and services in the nationâ€™s economy. However, the rate of patronage has been dampened compared to the conventional banks due to the issues of regulations and taxes, issues revolving around Sharia Scholars, Sharia-compliant products, and lack of awareness, among others. The study, therefore, investigates the nexus between Islamic banking products and economic development in Nigeria between 2013Q1 - 2019Q4. The data such as Human Development Index (HDI) proxy of economic development, and Islamic banking products; Murabahah (MUR), Wadiah (WAD), Istisna (IST), and Ijarah (IJA) were gathered from United Nations Statistics and Prudential and Structural Islamic Financial Indicators (PSIFIs). The data were analyzed using Eviews 9. The techniques adopted include descriptive statistics, correlation matrix, unit root test, co-integration statistics and Error Correction Model (ECM). The unit root test showed that all the data series were stationary at the first difference I(1). The co-integration results revealed the existence of a long-run relationship between Islamic banking products and economic development. However, the error correction model established that the short-run disequilibrium would be corrected and signed in the long run at 33%. It was therefore concluded that there exists a nexus between Islamic banking products and economic development in Nigeria. The study recommends among others, that government should encourage more operations of Islamic banking so that Nigeria can achieve the objectives of financial inclusion, which is an essential ingredient of economic development.

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Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name
Muhammad Zakiy

Contact Email
admin-jiebr@umy.ac.id

Phone
+6281286878830

Journal Mail Official
admin-jiebr@umy.ac.id

Editorial Address
Fakultas Agama Islam, Universitas Muhammadiyah Yogyakarta, Gedung F6 Lantai 2, Jl. Brawijaya, Geblagan, Tamantirto, Kasihan, Bantul, Yogyakarta, 55183

Location
Kab. bantul,

Daerah istimewa yogyakarta

INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Muhammad Zakiy

Contact Email admin-jiebr@umy.ac.id

Phone +6281286878830

Journal Mail Official admin-jiebr@umy.ac.id

Editorial Address Fakultas Agama Islam, Universitas Muhammadiyah Yogyakarta, Gedung F6 Lantai 2, Jl. Brawijaya, Geblagan, Tamantirto, Kasihan, Bantul, Yogyakarta, 55183

Location Kab. bantul, Daerah istimewa yogyakarta INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Muhammad Zakiy

Contact Email
admin-jiebr@umy.ac.id

Phone
+6281286878830

Journal Mail Official
admin-jiebr@umy.ac.id

Editorial Address
Fakultas Agama Islam, Universitas Muhammadiyah Yogyakarta, Gedung F6 Lantai 2, Jl. Brawijaya, Geblagan, Tamantirto, Kasihan, Bantul, Yogyakarta, 55183

Location
Kab. bantul,

Daerah istimewa yogyakarta

INDONESIA