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Ekonomi Islam Indonesia
Published by Smart Insights
ISSN : -     EISSN : 27156346     DOI : -
Core Subject : Religion, Economy, Science,
Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance
Ekonomi Islam Indonesia adalah publikasi ilmiah yang diterbitkan oleh SMART Insight yang berada di bawah lembaga riset SMART Indonesia. Sharia Economic Applied Research and Training (SMART) adalah lembaga penelitian di Indonesia yang fokus pada riset seputar ekonomi dan keuangan Islam.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 61 Documents
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Forecasting and The Relationship between Sukuk and Macroeconomy in Turkiye Valencia Kirana Rosadhillah; Ülev, Salih
Ekonomi Islam Indonesia Vol. 6 No. 1 (2024): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v6i1.524

Abstract

This study aims to forecast the outstanding of sovereign sukuk in the coming years and investigate the relationship between sukuk and macroeconomic variables, specifically inflation and exchange rate. This study applied a quantitative approach and took time series data of related variables in Turkiye from 2012 to 2021. The growth of Sukuk was predicted by using the Autoregressive Integrated Moving Average (ARIMA), while the Granger causality test was considered to investigate whether there is an interrelation among variables or not. The findings showed that the volume of sovereign sukuk has had positive progress in the following years. For the remaining analysis, both inflation and exchange rate affected significantly on sukuk outstanding. Meanwhile, the volume of sukuk did not affect both. In conclusion, there is no causal relationship between sukuk volume and macroeconomic variables. The findings of this study are limited since it only uses inflation and exchange rates as macroeconomic instruments. Moreover, it just observed the sukuk growth in Turkiye, which cannot be generalized to other countries. However, this paper will give a practical contribution to assist the government in making an efficient policy since sukuk is an alternative financing source to boost economic growth. Furthermore, this study can give a general view of the development of sukuk as a diversification instrument to stimulate the growth of Islamic finance industries in the future.
Systematic Review on Indonesia Halal Certification Ikhwan, Ihsanul
Ekonomi Islam Indonesia Vol. 6 No. 2 (2024): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v6i2.554

Abstract

The implementation of the law mandates the establishment of a new government agency under the Ministry of Religious Affairs, namely the Halal Product Guarantee Agency (BPJPH), which was previously handled by LPPOM MUI. Halal certification aims to serve the interests of Muslims and support them in practicing their religious teachings. This study aims to examine the development of research on “Halal certification in Indonesia” published by journals on this topic. The data used are secondary data obtained from scientific publications indexed by the Scopus database of 106 documents. This research uses a qualitative method with a bibliometric approach, which is processed using VOSviewer software. The results of the study show that there are 4 research clusters including halal certification system in indonesia, consumer perceptions and halal certification in indonesia, halal cosmetics and halal certification in indonesia, implementation of halal standards and halal certification in indonesia.
Moratorium from Shariah Perspective: Its Impact on Islamic Banking in Malaysia Ali, Mohammad Mahbubi
Ekonomi Islam Indonesia Vol. 6 No. 2 (2024): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v6i2.565

Abstract

As the COVID-19 pandemic intensifies worldwide, lockdowns-or partial lockdowns-to restrict movement have been the preferred mechanism to reduce the infection rate of the virus in most countries. Imposing a movement control necessitates the closure of economic and business activities, including restricting travel between borders. Malaysia, for instance, implemented the Movement Control Orders (MCO) beginning March 18, 2020. Nevertheless, this measure caused many businesses to shut down and impacted millions of individuals' cash flow, small and medium enterprises, and corporate sectors. In response, many governments introduced the repayment moratorium policy to ease the cash flow of SMEs and individuals affected by the COVID-19 pandemic. This article aims to examine the repayment moratorium from an Islamic perspective. It also sheds critical light on the impact of COVID-19 and moratorium policies on the Islamic banking industry in Malaysia and other jurisdictions. The study is qualitative, adopting library research, benefiting from various sources: the Qur'an, the Prophet's tradition, the opinions of Shari'ah scholars and other available secondary data. This study should serve as a reference point for academics, policymakers, and researchers interested in the moratorium issue in Islamic finance.
Cash Waqf Intention among Indonesian Muslim Youth: The Role of Banking Digitalization Haidar, Abdullah; Hendrasto, Nur; Herindar, Evania; Chairiyati, Fauziah
Ekonomi Islam Indonesia Vol. 6 No. 2 (2024): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v6i2.568

Abstract

This study aims to explore the factors influencing the adoption of cash waqf transactions by Generation Z and Millennials in East Java, Indonesia, focusing on the use of the Digital Sharia Banking System (DSBS). Implemented through a collaboration between the Badan Wakaf Indonesia (BWI) and Sharia banks utilizing financial technology (FinTech), DSBS represents an innovative approach to facilitating cash waqf transactions. The investigation involved 200 participants and utilized Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze the data. The results indicate that the overall model met all the requirements. Key findings suggest that the decision or intention of Generation Z and Millennials in East Java to participate in waqf through DSBS is influenced by factors such as convenience, usefulness, and subjective norms. The study highlights that the ease and benefits of using DSBS for cash waqf transactions are the most crucial factors driving the growth of cash waqf in the region. Integrating the Technology Acceptance Model (TAM) and the Theory of Planned Behavior (TPB), the research reveals that while perceived usefulness is a significant driver for positive attitudes and intentions to use DSBS, ease of use and behavioral control do not significantly impact these attitudes or intentions. Therefore, enhancing the perceived usefulness of DSBS is recommended as a more effective approach to promote its use in waqf transactions.
Islamic Fintech Development Strategy in Indonesia: Analytic Network Process (ANP) Approach Surbakti, Mhd Handika; Nurzaman, Mohamad Soleh
Ekonomi Islam Indonesia Vol. 6 No. 2 (2024): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v6i2.582

Abstract

This study aims to analyze problem priorities, solutions and strategies in the development of Islamic fintech in Indonesia by using Analytical Network Process (ANP) method. The background of this study is the rapid growth of the Islamic fintech industry in Indonesia, but until now the map has not been found in its development. This study involved stakeholders from the government/ regulators, practitioners and academics as the research respondents. The results of this study showed that the problem priorities of Islamic fintech development in Indonesia respectively are Regulation, Literacy, Human Resources (HR) and Capital. While the solution priorities respectively are Literacy, Human Resources (HR), Regulation and Capital. The alternative priorities for the Islamic fintech development strategy in Indonesia respectively are Increasing Literacy, Strengthening Government Support, Improving Quality and Quantity of Human Resources (HR), Expanding Access to Capital and Creating Ecosystems. This study shows that collaborative efforts are needed so that the Islamic fintech industry in Indonesia can develop and be sustainable.
The Effect of Bank Syariah Indonesia Merger on Financing in Indonesia Achsani, Muhammad Nur Faaiz Fathah; Irfany, Mohammad Iqbal
Ekonomi Islam Indonesia Vol. 7 No. 1 (2025): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v7i1.587

Abstract

This study aims to examine the impact of the merger of three state-owned Islamic banks on financing in Indonesia’s Islamic banking sector, while also analyzing the role of macroeconomic and bank-specific factors. The study employs time-series data and applies the Auto-Regressive Distributed Lag (ARDL) bounds testing approach to analyze short- and long-term relationships between financing and various macroeconomic and bank-specific variables. The results show that in the short run, the merger did not have an immediate effect on financing, with key variables such as asset size, non-performing financing (NPF), exchange rates, and the unemployment rate significantly influencing financing. In the long run, asset size and NPF positively and negatively impacted financing, respectively, while the exchange rate negatively influenced financing. The merger itself showed no significant long- term effect, likely due to the bank focusing on internal consolidation rather than expanding financing or market share. This study provides insights into the immediate and long-term impacts of bank mergers in the context of Islamic banking, emphasizing the role of macroeconomic factors and internal consolidation processes. The findings offer valuable guidance for policymakers, regulators, banks, and stakeholders in the Islamic banking industry.
Islamic Finance Development in Africa Adam, Muniem; Napitupulu, Rodame Monitorir
Ekonomi Islam Indonesia Vol. 7 No. 1 (2025): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v7i1.617

Abstract

This study provides a quantitative analysis of the literature on Islamic finance in Africa from 1992 to 2024, drawing on English, French, Turkish and Russian language articles indexed in Scopus database. Employing a bibliometric methodology alongside content analysis, this study outlines the development and structure of the field, examining aspects such as co-authorship, co-citation, and bibliographic coupling. Finding The international journal of Islam as the highest-ranking journal in Islamic finance in Africa, Hasan, M. Kabir as the most influential in co-authorship, and Islamic finance as the dominant keyword in the bibliometric analysis. The primary objective of this research is to address the lack of prior bibliometric analysis concerning Islamic finance within the context of Africa. Consequently, this research will serve as an inaugural paper conducting a bibliometric review on this particular topic. There are 4 main topics covered: (1) Overview of Islamic finance in Africa; (2) Islamic finance in developing countries; (3) Development of Islamic finance in Africa; (4) Performance of Islamic banking and finance during crises.
Why Generation Z Intends to Save in Islamic Banks: A Case in Indonesia Fitria, Lia; Priantina, Anita
Ekonomi Islam Indonesia Vol. 7 No. 1 (2025): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v7i1.618

Abstract

The growth of the Islamic banking industry continues to show a positive trend, both at the global and national levels. One indicator is the increase in banking products, especially savings products. This study aims to analyze the influence of financial literacy and religiosity on intention to save at Islamic banks among Generation Z, with a focus on high school students in Bogor City. This study uses a quantitative approach by involving 100 respondents from SMA Negeri 1 Citeureup students. Data were collected through questionnaires, and analyzed using the Structural Equation Modeling (SEM) method. The results of the analysis show that both financial literacy and religiosity have a positive and significant influence on intention to save at Islamic banks. The R-Square value on the intention to save construct is 0.801, which indicates that 80.1% of the variability in intention saving can be explained by these two variables. The findings emphasize the importance of increasing financial and religious education to encourage wider awareness and participation in sharia-based financial practices.
Perceptions of Online Lending Risks: A Netnographic Analysis of Indonesian YouTube Videos Alim, Ahmad Syahirul
Ekonomi Islam Indonesia Vol. 7 No. 1 (2025): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v7i1.635

Abstract

This study examines public discourse concerning online loans in Indonesia through a Netnography analysis of YouTube user comments on videos about this topic. Data was gathered from 19 videos, which collectively garnered 51,279 comments, and were analyzed using NVivo software to perform a qualitative analysis. The methodology went beyond simple data collection, employing sentiment and thematic analysis to identify user perceptions. The findings indicate a notable prevalence of negative sentiments toward online loans, particularly illegal ones, frequently linked to detrimental practices such as aggressive debt collection, exorbitant interest rates, and the misuse of personal data. Users on YouTube raised various concerns regarding online loans, including the risk of default, unethical debt collection methods, and data privacy violations. Despite being aware of these risks, some individuals continue to engage with online loan services due to urgent financial needs and the convenience they offer. Discussions also emerged about the obligation to repay debts incurred from illegal online loans, highlighting a gap in public comprehension of Islamic economic principles and emphasizing the need for sharia-compliant regulations and appropriate legal frameworks.This study recommends enhancing regulations, oversight, and law enforcement related to online loans and promoting sharia financial literacy within the community. Additionally, the development of Sharia-compliant peer-to-peer lending are anticipated to provide fairer and more responsible digital financial services.
Book Review: An Islamic Model for Stabilization and Growth Rusydiana, Aam Slamet
Ekonomi Islam Indonesia Vol. 7 No. 1 (2025): Ekonomi Islam Indonesia
Publisher : SMART Insight

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58968/eii.v7i1.652

Abstract

The repeated failure of structural adjustment programs (SAPs) and stabilization designed by the IMF and World Bank in developing countries has created an urgent need for an alternative economic paradigm. The book An Islamic Model for Stabilization and Growth by Adama Dieye (2020) offers a macroeconomic approach based on Islamic principles, emphasizing a risk-sharing mechanism instead of the risk-shifting that characterizes the conventional model. Through a case study of Senegal, the book demonstrates that applying the Islamic economic model can produce more sustainable economic stability, more inclusive growth, and enhanced social justice. This article elaborates on the conceptual ideas and empirical findings of the book and highlights its relevance for economic policy reform in Muslim and developing countries.

Page 6 of 7 | Total Record : 61

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