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Share: Jurnal Ekonomi dan Keuangan Islam
Published by Universitas Islam Negeri Ar-Raniry Banda Aceh
ISSN : 20896239     EISSN : 25490648     DOI : https://doi.org/10.22373/share
Core Subject : Religion, Economy,
Religion Economics, Econometrics & Finance
Share: Jurnal Ekonomi dan Keuangan Islam [SHARE] is a double-blind peer-reviewed journal published by the Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry, Banda Aceh, Indonesia. SHARE publishes research and concept papers pertaining to the field of Islamic economics and finance in open access format, which enables readers to freely access and download the articles under the CC BY SA license. Since 2017, SHARE has become a CrossRef Member, meaning that each article published by the journal will have a unique DOI number. SHARE has been indexed in many trusted indexing sites, such as DOAJ, Index Copernicus, Scilit, WorldCat, Google Scholar, Dimensions, EBSCO, and many others. In Indonesia, SHARE is listed among the top-notch journals by the Indonesian journal accreditation body officialized with the Decree of Director General of Research Strengthening and Advancement, Ministry of Research, Technology, and Higher Education, No. 21/E/KPT/2018, starting from 9 July 2018 until 9 July 2023. Currently, SHARE is under consideration for inclusion in SCOPUS.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 13 Documents
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Search results for , issue "Vol 12, No 1 (2023)" : 13 Documents clear
Global Market Reaction to the Indonesian Islamic Capital Market During Covid Outbreak Ahmad Habibi; Khavid Normasyhuri; Aula Nurul Ma'rifah
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.14897

Abstract

The COVID-19 pandemic has impacted the global Islamic capital market, including Indonesia. As a result, it is critical to investigate the global stock market reaction to this issue. This study seeks to comprehend the global Islamic stock market's reaction to the Indonesian Islamic stock market, as represented by the Jakarta Islamic Index (JII), during the COVID-19 outbreak. To test the hypothesis, this study employs the Error Correction Model (ECM) techniques. The findings revealed that the global Islamic stock market had a significant influence on the Indonesian Islamic stock market during that time, both in the short and long term. This is due to the Islamic stock market's interconnected nature, which attracts investors as it allows foreigners to own Islamic stocks in Indonesia, and also offers valuable long- and short-term prospects. In addition, the globalization of the world economy, social and political relations are interrelated between countries, especially in the era of COVID-19. Because the outbreak was unavoidable, it caused global economic chaos and extreme crises, including investments in the Islamic stock market. In light of crisis, the findings of this study can be used as practical guidance for investors considering investing in the Islamic stock market.==============================================================================================================  ABSTRAK - Reaksi Pasar Global Terhadap Pasar Modal Syariah Indonesia Dalam Masa Covid-19. Pandemi COVID-19 berdampak pada pasar modal syariah global, termasuk Indonesia. Oleh karena itu, kajian yang berkaitan dengan hal tersebut sangat penting dilakukan. Penelitian ini bertujuan untuk mengkaji reaksi pasar modal syariah global terhadap pasar modal syariah Indonesia yang diwakili oleh Jakarta Islamic Index (JII) dalam masa COVID-19. Untuk menguji hipotesis, penelitian ini menggunakan teknik Error Correction Model (ECM). Hasil temuan menunjukkan bahwa pasar modal syariah global memiliki pengaruh signifikan terhadap pasar modal syariah Indonesia, baik dalam jangka pendek maupun jangka panjang. Hal ini disebabkan oleh sifat interkoneksi pasar modal syariah, yang menarik investor karena memungkinkan orang asing untuk memiliki saham syariah di Indonesia, dan juga menawarkan prospek jangka panjang dan jangka pendek yang menguntungkan. Selain itu, akibat globalisasi ekonomi, hubungan sosial dan politik antar negara saling berkaitan, terutama di era COVID-19. Karena pandemi tersebut tidak terhindarkan, kondisi ekonomi global dan krisis terjadi dalam berbagai sektor, termasuk pasar modal syariah. Temuan penelitian ini berimplikasi sebagai pedoman praktis bagi investor dalam berinvestasi di pasar modal syariah di Indonesia.
Performance of Sharia Public Companies During the Covid-19: An Altman Z-Score Analysis Didi Asmadi; Sri Rahmawati; Muhammad Ihsan
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.14884

Abstract

This research aims to assess and analyze the financial performance of public companies operating under the Sharia category during the Covid-19 pandemic. The Altman Z-Score method, which utilizes four parameters and secondary data, was employed to investigate the 2020 financial statements of 30 companies listed in the Sharia category in JII. The study findings indicate that three companies exhibited potential bankruptcy as their Z-Score value was less than 1.1, while three other companies were susceptible to bankruptcy with a Z-Score value between 1.1 and 2.6. In contrast, 24 companies were classified as financially healthy since their Z-Score value was greater than 2.6. To mitigate the risk of bankruptcy, management is advised to implement effective debt restructuring and management strategies while examining best practices from companies that thrived during the pandemic. This research underscores the effectiveness of the Altman Z-Score method in assessing financial performance, identifying financial issues, predicting bankruptcy, and evaluating a company's financial health level.======================================================================================================== ABSTRAK – Kinerja Perusahaan Publik Syariah Pada Masa Pandemi Covid-19: Analisis Altman Z-Score. Penelitian in bertujuan untuk mengetahui dan menganalisis kinerja perusahaan terbuka kategori syariah pada masa pandemi Covid-19. Penelitian ini menggunakan metode Altman Z-Score dengan empat parameter dan data sekunder yaitu laporan keuangan tahunan perusahaan periode 2020, dengan sampel penelitian berjumlah 30 perusahaan terbuka kategori syariah dalam JII. Hasil penelitian menunjukkan 3 perusahaan berpotensi bangkrut karena nilai Z-Score kurang dari 1,1, dan 3 perusahaan berpotensi rawan bangkrut karena nilai Z-Score antara 1,1 dan 2,6, serta ada 24 perusahaan dalam kategori sehat karena Z-Score lebih dari 2,6. Untuk mengantisipasi potensi kebangkrutan, manajemen diharapkan dapat menerapkan strategi rekstrukturisasi manajemen dan utang serta melihat praktik baik perusahaan yang mampu bertahan dimasa pandemi. Penelitian ini juga menunjukkan bahwa metode Altman Z-Score mampu mengevaluasi kinerja, mendeteksi masalah keuangan, memprediksi kebangkrutan, dan dapat mengukur tingkat kesehatan keuangan perusahaan.
Can Other Comprehensive Income Affect Dividend Payments in Indonesia? Marhaendra Kusuma; Beby Hilda Agustin
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.15513

Abstract

The concept of Other Comprehensive Income (OCI) refers to the difference between the fair value and historical value of assets, resulting from applying fair value principles in financial statement preparation. Despite being unrealized income, it affects equity, and some of its items have a real potential to be realized in the coming period. Previous research has mainly studied the effect of realized income (net income) on dividends, while the impact of unrealized income on dividends, especially in Indonesia, has received limited attention. This study investigates the relationship between OCI and dividends for 682 companies listed on the Indonesia Stock Exchange using data from annual reports spanning from 2015 to 2021. This study employs descriptive statistics, correlation analysis, multiple linear regression analysis, and path analysis to examine the mediating role of profitability and operating cash flows in the relationship between OCI and dividends. The results reveal that OCI, as a whole, does not have a significant impact on dividends. However, when analyzing only the items within OCI that are "to be reclassified to net income", specifically gains (losses) on “available-for-sale financial assets”, the study identifies a significant and positive relationship between OCI and dividends. These findings suggest that incorporating OCI with net income in the income statement format can enhance the relevance of financial information for users, emphasizing the importance of considering the impact of unrealized income on dividends and the mediating role of profitability and operating cash flows.========================================================================================================ABSTRAK – Dapatkah Other Comprehensive Income Mempengaruhi Pembayaran Dividen di Indonesia? Konsep Other Comprehensive Income (OCI) merujuk pada perbedaan antara nilai wajar dan nilai historis aset, yang dihasilkan dari penerapan prinsip nilai wajar dalam penyusunan laporan keuangan. Meskipun merupakan penghasilan yang belum direalisasi namun mempengaruhi ekuitas dan beberapa item diantaranya ada potensi nyata terealisasi di periode yang akan datang. Kajian sebelumnya, terutama di Indonesia, umumnya hanya menguji pengaruh pendapatan yang terealisasi terhadap dividen, sedangkan pengaruh pendapatan belum terealisasi belum banyak dieksplorasi. Kajian ini bertujuan untuk meneliti hubungan antara OCI dan dividen pada 682 perusahaan yang terdaftar di Bursa Efek Indonesia menggunakan data dari laporan tahunan selama periode 2015- 2021. Analisis data dilakukan dengan statistik deskriptif, analisis korelasi, analisis regresi linear berganda, dan analisis jalur untuk mengeksplorasi peran mediasi variabel profitabilitas dan arus kas operasi dalam hubungan antara OCI dan dividen. Hasil kajian menunjukkan bahwa secara keseluruhan, OCI tidak memiliki dampak signifikan terhadap dividen. Namun, ketika analisis hanya dilakukan pada item-item OCI kelompok “yang akan direklasifikasi ke laba bersih”, khususnya pada item keuntungan (kerugian) aset keuangan tersedia untuk dijual, OCI berpengaruh positif signifikan terhadap dividen, dan profitabilitas serta arus kas operasi juga memediasi pengaruh OCI terhadap dividen. Temuan ini menunjukkan bahwa menggabungkan OCI dengan laba bersih dalam format laporan keuangan dapat meningkatkan relevansi informasi keuangan bagi pengguna, dengan menekankan pentingnya mempertimbangkan dampak penghasilan yang belum direalisasi pada dividen dan peran mediasi dari profitabilitas dan arus kas operasi.
Unveiling the Benefits of Hajj Funds Investment in Indonesia Hulwati Hulwati; Slamet Mujiono; Roni Andespa; Abdi Fadhlan
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.16082

Abstract

This article aims to investigate the benefits of investing in Hajj funds deposited by waitlisted pilgrims, not only for the purpose of organizing the pilgrimage but also for the wider community in Indonesia. The study draws upon primary data obtained from interviews conducted with the Public Relations of the Hajj Financial Management Agency (BPKH) and the Director of Hajj and Umrah Management of the Ministry of Religious Affairs in Jakarta. Additionally, secondary data was obtained from a variety of sources such as books, online news articles, and reports published by the BPKH that address the value of investment benefits for the Hajj pilgrimage. The selection of the BPKH is based on its responsibility for managing and investing in Hajj funds under Law Number 34 of 2014. The study highlights that Hajj funds investment not only benefits the management of Hajj operations but also has value for the wider community. The findings of this study supplement previous research that has focused primarily on the management of Hajj investments and their juridical basis in Indonesia. The benefit value of Hajj funds is optimally utilized for the implementation of the pilgrimage, as well as for the benefit of the ummah. Such benefits include the provision of religious, educational, and social facilities, as well as disaster relief such as the COVID-19 pandemic. The study concludes that in order to maximize the benefits of Hajj funds investments, they must be directed towards more productive investment opportunities that yield maximum return.====================================================================================================ABSTRAK –  Menyingkap Manfaat Investasi Dana Haji di Indonesia. Artikel ini bertujuan untuk mengeksplorasi nilai manfaat dari investasi dana haji yang disetor oleh calon jamaah haji yang masih dalam daftar tunggu, tidak hanya untuk tujuan penyelenggaraan ibadah haji tetapi juga untuk masyarakat Indonesia secara umum. Data primer untuk penelitian ini diperoleh melalui wawancara dengan Humas Badan Pengelola Keuangan Haji (BPKH) dan Direktur Penyelenggaraan Haji dan Umrah Kementerian Agama di Jakarta. Sementara data sekunder diperoleh dari buku, artikel, berita online, dan laporan-laporan yang diterbitkan oleh BPKH yang membahas tentang nilai manfaat investasi dana haji. Pemilihan BPKH sebagai sumber data didasarkan pada tanggung jawabnya dalam pengelolaan dan investasi dana haji sesuai dengan Undang-Undang Nomor 34 Tahun 2014. Hasil kajian ini menunjukkan bahwa investasi dana haji tidak hanya memberikan nilai manfaat bagi penyelenggaraan operasional haji tetapi juga memberikan nilai manfaat bagi kemaslahatan umat. Temuan ini mendukung beberapa penelitian sebelumnya tentang pengelolaan dana haji dan basis yuridisnya di Indonesia. Nilai manfaat dari dana haji dapat dioptimalkan untuk penyelenggaraan ibadah haji dan kemaslahatan umat, seperti penyediaan fasilitas keagamaan, pendidikan, dan sosial, serta bantuan dalam bencana seperti pandemi COVID-19. Penelitian ini menyimpulkan bahwa untuk memaksimalkan nilai manfaat dana haji, investasinya harus diarahkan pada peluang yang lebih produktif dan menghasilkan keuntungan maksimal.
Cooperative Contracts in the Agricultural Sector and Their Impact on the Working Time Allocation Aslan Deri Ichsandi; Hari Candra
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.15116

Abstract

TThe comprehension of fundamental concepts underlying agricultural cooperatives remains elusive to a significant proportion of farmers despite their extensive daily or even long-term involvement in farm work. This study seeks to investigate the preferences of farmers in the agricultural sector regarding Muzharaáh and Mukabarah cooperation contracts, and their implications for assigned working time. To obtain the essential data, this study adopts a quantitative survey methodology. The quantitative analysis employs the Regression Moderation Analysis (RMA) technique. According to the findings of this survey, the Muzharaáh contract is the preferred form of cooperation contract among farmers, as it reduces the daily time allotted to cultivating by 3.14 hours. Furthermore, farmers involved in this contract increase their daily working hours by 8.28 hours if they do not face risks such as fertilizer or seed-related risks. Future studies should employ a range of regression procedures to produce divergent results and provide farmers with better guidance.======================================================================================================== ABSTRAK - Akad-akad Kerjasama di Sektor Pertanian dan Dampaknya terhadap Alokasi Waktu Kerja – Meskipun banyak petani yang terlibat dalam kerjasama pertanian sehari-hari dan telah menghabiskan waktu berhari-hari, berminggu-minggu, bahkan bertahun-tahun bekerja di pertanian, masih banyak di antara mereka yang tidak memahami konsep dasar di balik kerjasama pertanian. Oleh karena itu, studi ini bertujuan untuk menyelidiki preferensi petani di sektor pertanian terhadap jenis kontrak kerjasama Muzharaáh dan Mukabarah serta dampak preferensi tersebut pada alokasi waktu kerja yang dialokasikan. Metodologi survei kuantitatif digunakan untuk mengumpulkan data yang dibutuhkan, dan Regresi Moderasi Analisis (RMA) digunakan sebagai teknik analisis. Hasil studi menunjukkan bahwa petani cenderung lebih memilih kontrak Muzharaáh, karena dapat mengurangi waktu kerja harian yang diperlukan untuk bercocok tanam sebesar 3,14 jam perhari. Selain itu, petani yang terlibat dalam kontrak tersebut cenderung menambah jam kerjanya sebesar 8,28 jam perhari jika tidak menghadapi risiko dalam bentuk pupuk atau bibit. Dalam penelitian selanjutnya, disarankan untuk menggunakan metode Regresi yang berbeda untuk memperoleh hasil yang beragam pada setiap metode sehingga dapat memberikan rekomendasi yang lebih efektif pada petani untuk memilih jenis kontrak kerjasama yang paling sesuai..
Preference of Non-Muslim Customers towards Islamic Banks within Muslim Minority Areas in Indonesia Hamzah Hamzah; Agus Yudiawan; St. Umrah
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.15814

Abstract

This study aims to explore the factors influencing the preferences of non-Muslim customers towards Islamic banks in Muslim minority areas in Indonesia. A quantitative approach was employed, with a sample of 232 non-Muslim customers participating as respondents. Data was collected using questionnaires administered directly to the participants and analyzed using exploratory factor analysis (CFA). The findings revealed four main preference factors: 1) access factors, encompassing variables related to facilities and location; 2) product quality factors, comprising variables pertaining to product, promotion, and reputation; 3) psychological factors, including variables of satisfaction, perception, and knowledge; and 4) socio-cultural factors, consisting of variables related to social status and religious status. These findings offer preliminary insights into the preferences of non-Muslim customers towards Islamic banks within Muslim minority areas in Indonesia. Further studies are warranted, particularly in non-Islamic countries aiming to establish Islamic banks. Moreover, future research can explore the formed variables using other analytical methods such as linear regression, discriminant analysis, or alternative analyses to deepen the understanding of Islamic banking development in Muslim minority regions. The outcomes of this study contribute valuable insights for Islamic banks to consider when developing banking services for non-Muslim customers, thereby promoting the growth of Islamic banking in Muslim minority areas. This research also adds to the existing literature on non-Muslim customer preferences in Islamic banks within Muslim minority areas.======================================================================================================== ABSTRAK – Preferensi Nasabah Non-Muslim terhadap Bank Syariah dalam Wilayah Minoritas Muslim di Indonesia. Penelitian ini bertujuan untuk mengeksplorasi faktor-faktor yang memengaruhi preferensi nasabah non-Muslim terhadap bank syariah dalam wilayah minoritas Muslim di Indonesia. Pendekatan kuantitatif digunakan dalam penelitian ini, dengan melibatkan sampel sebanyak 232 pelanggan non-Muslim sebagai responden. Pengumpulan data dilakukan melalui penggunaan kuesioner yang diberikan langsung kepada para responden, dan analisis dilakukan menggunakan metode analisis faktor eksploratori (CFA). Temuan penelitian ini mengungkapkan adanya empat faktor preferensi utama, yaitu: 1) faktor akses, yang meliputi variabel-variabel terkait fasilitas dan lokasi; 2) faktor kualitas produk, yang mencakup variabel-variabel terkait produk, promosi, dan reputasi; 3) faktor psikologis, yang melibatkan variabel-variabel kepuasan, persepsi, dan pengetahuan; dan 4) faktor sosial-budaya, yang terdiri dari variabel-variabel terkait status sosial dan status keagamaan. Temuan ini memberikan gambaran awal yang penting terkait preferensi nasabah non-Muslim terhadap bank syariah dalam wilayah minoritas Muslim di Indonesia. Untuk memperdalam pemahaman mengenai perkembangan perbankan syariah di wilayah minoritas Muslim, penelitian lanjutan perlu dilakukan, terutama di negara-negara non-Muslim yang berencana mendirikan bank syariah. Selain itu, penelitian selanjutnya dapat mengkaji permasalahan tersebut berbagai analisis lain, seperti regresi linear, analisis diskriminan, atau metode lainnya. Hasil penelitian ini berkontribusi dalam pengembangan layanan perbankan syariah untuk nasabah non-Muslim dan mendorong pertumbuhannya di daerah minoritas Muslim. Penelitian ini juga berkontribusi dalam memperkaya literatur terkait preferensi nasabah non-Muslim pada bank syariah di daerah minoritas Muslim.
Optimization Strategy for Mudharabah Financing in Indonesian Islamic Banking Khoirul Umam; Farah Khoirunnisa; Imam Kamaluddin; Isma Aulia Roslan
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.15158

Abstract

Mudharabah financing in Islamic banking plays a crucial role in addressing real-sector capital problems through its profit and loss sharing (PLS) system. However, despite its potential, the PLS system faces several obstacles that make it less attractive to financial institutions. This study aims to identify the issues causing non-optimal mudharabah financing practices in Indonesian Islamic banking, analyze solutions, and provide the optimization strategies. This study employed a qualitative method with the Analytical Network Process (ANP) approach to analyze the priority issues and solutions to mudharabah financing practices in Indonesia. The data were collected through interviews and focus group discussions with industry experts and stakeholders. The findings show that the primary issues are: 1) internal problems such as non-collateral for long-term profit sharing for small financing customers, and 2) external problems including regulatory issues regarding the COVID-19 stimulus. The study identified priority solutions to overcome these issues, including long-term financing with profit-sharing ratios and yield benchmarks, regulatory strategies, community training, and IT and HR investments. Developing the integrated MSME segment and strengthening stakeholder synergy were also identified as crucial. The study recommends that Islamic banks in Indonesia implement the identified priority solutions to increase trust in mudharabah financing and thus become the core product for financing real-sector capital problems in Indonesia. These findings have important implications for the regulatory authorities and policy-makers to facilitate a conducive environment for Islamic banking and to address the challenges faced by Islamic financial institutions.======================================================================================================== ABSTRAK – Strategi Optimisasi Pembiayaan Mudharabah pada Perbankan Syariah di Indonesia. Pembiayaan mudharabah dalam perbankan syariah memainkan peranan penting dalam menangani masalah permodalan sektor riil melalui pola bagi hasilnya. Namun, meskipun memiliki potensi, sistem bagi hasil kurang menarik bagi lembaga keuangan karena beberapa kendala dalam implementasi. Penelitian ini bertujuan untuk mengidentifikasi permasalahan optimalisasi pembiayaan mudharabah, menganalisis solusi, dan memberikan strategi optimisasinya pada perbankan syariah di Indonesia. Penelitian ini menggunakan metode kualitatif dengan pendekatan Analytical Network Process (ANP) dimana data-data dikumpulkan melalui wawancara dan FGD dengan pelaku industri dan pemangku kepentingan lainnya. Kajian ini menemukan bahwa penyebab utama permasalahan tersebut adalah: 1) faktor internal, seperti tidak adanya jaminan untuk berbagi keuntungan jangka panjang bagi pelanggan pembiayaan kecil, dan 2) faktor eksternal, seperti regulasi terkait stimulus COVID-19. Solusi prioritas dalam mengatasi masalah ini adalah pembiayaan jangka panjang yang menciptakan rasio bagi hasil dan merancang benchmark imbal hasil; strategi regulasi; pelatihan masyarakat; dan investasi TI dan SDM. Selain itu, pengembangan segmen UMKM terintegrasi dan penguatan sinergi pemangku kepentingan juga diidentifikasi sebagai hal yang uregn dilakukan. Penelitian ini merekomendasikan agar bank syariah di Indonesia dapat menerapkan solusi prioritas tersebut agar meningkatkan kepercayaan dan menjadi produk inti untuk pembiayaan sektor riil di Indonesia. Temuan ini memiliki implikasi penting bagi otoritas regulasi dan pembuat kebijakan untuk menciptakan lingkungan yang kondusif bagi perbankan syariah dan mengatasi tantangan yang dihadapi oleh lembaga keuangan syariah.
Islamic Banking Governance in Maqashid Sharia Perspectives: A Systematic Literature Review Yenik Candra Kiranawati; Shifa Miarti Aziza; Arim Nasim; Caria Ningsih
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.15446

Abstract

The development of Islamic banking has prompted financial institutions to operate in accordance with Sharia principles. In this context, the role of sharia governance is crucial in supporting banking operations and enhancing bank performance. This study aims to examine the implementation of sharia governance in Islamic banking. To improve the performance of Islamic banks, good governance practices in line with Islamic law are essential, including the application of maqashid sharia principles. A library search was conducted using the Systematic Literature Review (SLR) method to analyze several national and international journal articles published in the past decade. Out of 75 identified articles, 38 were found to be relevant after screening. The results indicate that the implementation of Sharia governance can improve bank performance by adhering to the principles of Maqashid Sharia as a guide. Such implementation would enable Islamic banks to be leaders in the industry, enhance the quality of their services, and ultimately increase the company's value. This study concludes that adherence to the principles of Maqashid Sharia leads to higher bank performance in terms of service quality, which can improve a company's value. The implications of this study offer insights into how the implementation of Sharia governance, based on Maqashid Sharia principles, can affect bank performance in Islamic banking.========================================================================================================ABSTRAK – Tata Kelola Bank Syariah dalam Perspektif Maqashid Syariah: Suatu Kajian Literatur Sistematis. Perkembangan perbankan syariah telah mendorong lembaga-lembaga keuangan untuk beroperasi sesuai dengan prinsip syariah. Dalam konteks ini, peran tata kelola syariah sangat penting dalam mendukung operasional perbankan dalam meningkatkan kinerjanya. Penelitian ini bertujuan untuk mengkaji implementasi tata kelola syariah pada perbankan syariah. Dalam meningkatkan kinerja bank syariah, praktik tata kelola yang baik yang sejalan dengan konsep ekonomi Islam sangat penting, salah satunya dengan penerapan prinsip maqashid syariah. Pencarian data dilakukan dengan metode Systematic Literature Review (SLR) dengan menganalisis sejumlah artikel nasional dan internasional yang diterbitkan dalam satu dekade terakhir. Dari 75 artikel yang teridentifikasi, hanya 38 artikel yang relevan dengan topik kajian ini. Hasil kajian menunjukkan bahwa implementasi tata kelola syariah dapat meningkatkan kinerja bank dengan mengikuti prinsip Maqashid Syariah sebagai panduan. Implementasi tersebut juga memungkinkan bank syariah untuk menjadi yang terdepan dalam industri perbankan, meningkatkan kualitas layanan, dan meningkatkan nilai perusahaan. Kajian ini menyimpulkan bahwa penerapan prinsip Maqashid Syariah dalam operasional bank syariah dapat meningkatkan kinerja mereka dalam hal peningkatan kualitas layanan yang berefek pada peningkatan nilai perusahaan. Implikasi dari penelitian ini memberikan wawasan tentang bagaimana implementasi tata kelola syariah, berdasarkan prinsip Maqashid Syariah, dapat mempengaruhi kinerja bank syariah.
Islamic Banking Loyalty in Indonesia: The Role Brand Image, Promotion, and Trust Basrowi Basrowi; Juhary Ali; Tulus Suryanto; Pertiwi Utami
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v12i1.15338

Abstract

This study aims to investigate the impact of brand image and promotion on customer loyalty in Islamic banking in Indonesia, with trust serving as a moderator variable. Specifically, the research aims to accomplish two objectives: (1) to examine the direct influence of brand image and promotion on trust and customer loyalty and (2) to investigate the indirect effect of brand image and promotion on customer loyalty through trust. The data were collected from 150 customers of Bank Syariah Indonesia, located in Jakarta Lenteng Agung Branch. To ensure the robustness of its findings, a rigorous quantitative analysis was conducted, utilizing structural equation modeling (SEM) and Smart PLS 3.3. The results indicate that each of the investigated variables holds statistical significance. In particular, it also reveals a partial direct relationship of brand image and promotion on trust. Moreover, the findings suggest that brand image and promotion have a significant influence on customer loyalty, either directly or indirectly through trust. Additionally, the study demonstrates a clear association between trust and customer loyalty. One of the original contributions of this study is the identification of trust's substantial mediating role in the relationship between brand image and promotion on customer loyalty at Bank Syariah Indonesia, Jakarta Lenteng Agung Branch.========================================================================================================ABSTRAK – Loyalitas Nasabah pada Perbankan Syariah di Indonesia: Peran Citra Merek, Promosi, dan Kepercayaan. Tujuan pada penelitian ini adalah untuk menganalisis pengaruh citra merek dan promosi terhadap kepercayaan, dimana kepercayaan sebagai moderatornya. Secara khusus, kajian ini mengkaji: 1) pengaruh citra merek dan promosi terhadap kepercayaan dan kepuasan pelanggan, dan 2) pengaruh tidak langsung dari citra merek dan promosi terhadap loyalitas pelanggan yang dimoderasi oleh kepercayaan. Data primer diperoleh melalui survey kepada 150 sampel nasabah pada Bank Syariah Indonesia KCP Jakarta Lenteng Agung. Untuk melakukan analisis kuantitatif yang bagus, kajian ini menggunakan pendekatan structural equation modeling (SEM) dan Smart PLS 3.3. Temuan kajian menunjukkan bahwa masing-masing variabel yang diteliti secara statistik menghasilkan nilai yang signifikan. Secara parsial, ada hubungan langsung antara citra merek dan promosi terhadap kepercayaan. Faktor-faktor tersebut juga berpengaruh signifikan terhadap loyalitas pelanggan, baik secara langsung maupun tidak langsung melalui kepercayaan. Selain itu, penelitian ini juga menunjukkan adanya hubungan yang nyata antara kepercayaan dan loyalitas pelanggan. Penelitian ini berkontribusi dalam mengidentifikasi signifikansi fungsi mediasi dari variabel kepercayaan pada hubungan antara citra merek dan promosi terhadap loyalitas pelanggan Bank Syariah Indonesia KCP Jakarta Lenteng Agung.
The Effect of Macroeconomics and the State Budget on State Sharia Securities in Indonesia Yusi Gumansari; Nurul Huda
Share: Jurnal Ekonomi dan Keuangan Islam Vol 12, No 1 (2023)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v0i0.17663

Abstract

This study aims to investigate the impact of various macroeconomic indicators and the State Budget on State Sharia Securities (SSS) in Indonesia. It employed secondary data from the first to the fourth quarter of 2022 and analyzed using the PLS-SEM (Partial Least Squares - Structural Equation Modeling) method, which allowed for estimating the multiple relationships between dependent and independent constructs. The findings reveal significant direct or indirect effects of macroeconomic indicators, represented by inflation rates, real GDP, benchmark interest rates, and oil commodity prices, had a significant direct or indirect effect on SSS. Furthermore, the State Budget, as reflected by tax revenue and government foreign debt with a remaining time of ≤ 1 year, exhibited a significant positive impact on the volume of SSS issuance and outstanding. It is important to note that macroeconomic indicators were found to have a significant negative effect on the State Budget, highlighting the interplay between these variables. The predictive value of the model employed in this study demonstrates its relevance in elucidating the underlying patterns in the data. These findings have valuable implications for policymakers, providing them with essential insights for the effective management of SSS as a prominent Islamic public financing instrument in Indonesia. They are advised to maintain continuous monitoring of both macroeconomic indicators and the State Budget to identify necessary changes related to the volume of SSS issuance.========================================================================================================ABSTRAK – Pengaruh Indikator Makroekonomi Dan APBN Terhadap SBSN. Penelitian ini bertujuan untuk menganalisis pengaruh indikator makroekonomi dan Anggaran Pendapatan dan Belanja Negara (APBN) terhadap Surat Berharga Syariah Negara (SBSN) di Indonesia. Penelitian menggunakan data sekunder periode triwulan I/2012 sampai dengan triwulan IV/2022. Analisis data dilakukan dengan menggunakan metode PLS-SEM (Partial Leased Square - Structural Equation Modeling) untuk mengestimasi hubungan antar variabel yang bersifat multiple relationship antara konstruk dependen dengan indipenden. Hasil kajian menunjukkan bahwa indikator makroekonomi yang diwakili oleh tingkat inflasi, PDB riil, suku bunga acuan dan harga komoditas minyak memiliki pengaruh signifikan baik langsung maupun tidak langsung terhadap SBSN. Kemudian APBN yang diwakili dengan penerimaan pajak dan utang luar negeri pemerintah yang memiliki jangka waktu sisa £ 1 tahun memiliki pengaruh positif yang signifikan terhadap volume penerbitan/outstanding SBSN. Selanjutnya, indikator makroekonomi diketahui memiliki pengaruh signifikan negatif terhadap APBN. Model yang digunakan dalam penelitian ini memiliki nilai prediktif yang relevan untuk menjelaskan informasi yang ada dalam data penelitian. Implikasi hasil penelitian memberikan masukan bagi pembuat kebijakan dalam mengelola SBSN sebagai salah satu intrumen pembiayaan keuangan publik Islami di Indonesia untuk melakukan pemantauan berkelanjutan atas indikator makroekonomi dan APBN sehingga dapat mengidentifikasi perubahan yang perlu dilakukan terkait dengan volume penerbitan SBSN.

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