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M. Luthfi Hamidi
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Muslim Business and Economic Review
Published by Universitas Islam Internasional Indonesia
ISSN : 28292499     EISSN : 29626471     DOI : https://doi.org/10.56529/mber
Core Subject : Economy,
Economics, Econometrics & Finance
Focus: the journal welcomes strong empirical studies and results-focused case studies that share research in current progress of Islamic Economics, Banking, Finance, and sustainable development. Scope: 1) Islamic economics, Digital economy, Political economy; 2) Trends and opportunities in Islamic Finance, Islamic banking and financial markets; 3) Islamic social finance (ZISWAK), Corporate social responsibility, governance; 4) Sustainable Development, Green economy, and SDGs; and 5) Halal and creative Industry (food, fashion, tourism).
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 49 Documents
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The Trade Development Among OIC Countries: Exploring Challenges, Opportunities, and the Impact of the Covid-19 Pandemic Bhatti, M. Ishaq; Ghouse, Ghulam
Muslim Business and Economics Review Vol. 2 No. 1 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i1.158

Abstract

This paper investigates the factor determining the impact of trade development, challenges, and opportunities among various OIC countries. It studies the impact of socioeconomics, geo-political and cultural, factors using data between 2014 to 2022. The selected OIC countries from diverse regions, namely South and Southeast Asia, South America, Europe, Africa, and Central Asia. The study’s sample includes 50 countries out of a total of 57 OIC member nations. The paper employs a two-step GMM model to address endogeneity issues related to institutional variables. To account for the impact of the Covid-19 pandemic on trade, we have included a Covid-19 dummy variable in the model. Our results reveal that the Covid-19 dummy variable is significant in all models, indicating its significant impact on trade. Furthermore, most of the variables included in the study are found to be significant in all models. Overall, this study provides valuable insights into the factors that influence trade in OIC countries and the impact of the Covid-19 pandemic on trade.
Efficiency Comparison between Conventional and Islamic Rural Banks in Sumatra during the COVID-19 Pandemic Akbar, Nashr; Ikhwan, Ihsanul; Riani, Ririn
Muslim Business and Economics Review Vol. 2 No. 2 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i2.185

Abstract

This study aims to examine and compare the efficiency of conventional rural banks and Islamic rural banks in their roles as intermediary institutions during the COVID-19 pandemic in Sumatra, Indonesia. Furthermore, the efficiency determinants were further analysed to find some variables that affect rural banks’ efficiency. Non-Parametric approach, Data Envelopment Analysis (DEA), and Tobit Regression are employed in this study. The results show that Islamic rural banks have better efficiency performance compared to conventional rural banks, but that there is a fluctuating efficiency trend experienced by both types of rural banks during the observation period. In addition, the potential improvement result indicates that financing and operating revenue variables are the main causes of rural bank inefficiency. Furthermore, the Tobit Regression result finds that capital and bank size significantly improve the efficiency level, but that risk significantly reduces bank efficiency.
Efficiency of SDG Achievement in Muslim Countries Nuraini, Irni; Rusydiana, Aam S.
Muslim Business and Economics Review Vol. 2 No. 2 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i2.186

Abstract

The United Nations adopted the 2030 Agenda for Sustainable Development and its Sustainable Development Goals (SDGs) to ensure that by 2030, the world addresses the numerous issues confronting humanity to promote well-being, economic prosperity, and environmental protection. Muslim countries, under the Organization of Islamic Cooperation (OIC), also actively participate in implementing the 2030 Agenda. This study aims to examine how efficient Muslim countries have been in achieving the SDGs between 2010 and 2017. The information indicates which countries have the highest and lowest SDG achievement rates, using the Data Envelopment Analysis (DEA) method to determine the relative efficiency level. According to the findings, four countries – Kuwait, Qatar, Malaysia, and Türkiye – achieved the maximum efficiency level across the period assessed. The country with the lowest efficiency is Comoros. The analysis also found regional variations of efficiency in SDG achievement, with the region with the highest efficacy value is Central Asia, while East Africa has the lowest.
The Solution for Unstable Bubble Assets: Reflection from an Islamic Finance Perspective Alatas, Muhamad Nagib
Muslim Business and Economics Review Vol. 2 No. 2 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i2.187

Abstract

In the fast-paced world of technology, there exist popular investment instruments that have no intrinsic value (non-asset-based). As a result, their prices are highly volatile and prone to bubbles. However, from an Islamic perspective, investment vehicles must have a fundamental value (asset-based) to ensure price stability. This research aims to compare the behaviour of asset prices between non-asset-based and asset-based types by utilizing a system dynamics model. Furthermore, this study investigates the impact of two types of market sentiment: relatively stable good market and very good market sentiment, follows by very bad market sentiment. The findings of this study suggest that non-asset-based asset prices tend to bubble in response to good market sentiment and then rapidly decline when significant bad market sentiment arises. In contrast, asset-based assets tend to have more stable prices because investors have benchmarks and do not rely solely on intuition. This research highlights the importance of the fundamental value or asset base in investment instruments, as required by Islamic finance. However, asset-based assets can also be prone to high volatility when irrational investors dominate, and speculation prevails. In such cases, government intervention or regulation may be necessary to mitigate risks and stabilise the market.
The Relevance of The Human Development Index from An Islamic Perspective to Macroeconomics and Zakat: A Measure of The Development of The World's Muslim Community Hasbi, M. Zidny Nafi’
Muslim Business and Economics Review Vol. 2 No. 2 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i2.189

Abstract

This paper analyses the core concepts and indicators of the Human Development Index (HDI) from a religious and theological perspective, particularly from an Islamic perspective (termed I-HDI). By using the theory of maqāṣid al-sharīʿah (the goals or objectives of Islamic law), this study looks at how I-HDI, macroeconomics, and zakat (alms) are interrelated. The study then tests the HDI and IHDI calculations and analyses for differences and similarities between them. This research uses the dynamic panel regression method with generalised method of moments (GMM) analysis in two steps. The author found that HDI and I-HDI provide very different results. The results of the HDI calculation are in the middle to lower ranking on the scale, while I-HDI sits on the upper middle scale. There is a large disparity between the results of HDI and I-HDI calculations. Hypothesis testing shows a positive macroeconomic relationship and influence on I-HDI, while the zakat variable is detrimental to I-HDI. This condition occurs because the strategy and management of zakat by the government is not optimal.
The Role of Customer Intention Regarding Environmentally Sustainable Islamic Banking in Indonesia: Examining the Structural Model Sodik, Fajar; Mahfuzh, Muhammad Ady; Olivia, Diana
Muslim Business and Economics Review Vol. 2 No. 2 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i2.190

Abstract

Environmental degradation is a global concern for businesses, requiring consistent effort to maintain sustainable environmental practices. Environmental sustainability is a crucial issue of concern to everyone, an increasing proportion of people are paying attention to various environmental issues in all parts of their lives, including in the context of Islamic banking. This research aims to develop and test a contextual framework for studying customer intentions in adopting sustainability Islamic banking activities and services. The study uses the Theory of Planned Behavior (TPB) model, adding new constructs to the main variables, such as trust, environmental consciousness, and perceived environmental outcomes. The survey collected data from 198 customers of Islamic banks in Indonesia, with the PLS-SEM modeling technique used to test the research model. The results show that perceived behavioral control is a significant influence on behavioral intentions, while attitude and subjective norms have no significant effect on behavioural intentions. Environmental consciousness significantly affects perceived environmental outcomes, which, in turn, significantly affect trust as well as behavioural intentions. Other statistical results find that environmental consciousness can affect behavioral intentions when mediated by perceived environmental outcomes. Overall, this study has theoretical and managerial implications and offers directions for future research on environmentally sustainable Islamic banking.
Low Equality for Women, Slower Economic Growth for All? Evidence from D-8 Countries Samuda, Sri Juli Asdiyanti
Muslim Business and Economics Review Vol. 2 No. 2 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i2.191

Abstract

Gender equality promotes economic improvement and reduces income inequality. Considering the goal of all countries to achieve faster and stronger economic growth, improving gender equality may represent a promising solution. This paper examines the link between gender equality and economic growth in the ‘Developing Eight’ (D-8) countries from 1998 to 2021. This study provides estimation using a system GMM and panel causality test to determine the effect of gender equality on economic growth. The results indicate a positive and significant effect of gender equality on economic output in D-8 countries. Heterogenous panel non-causality findings suggest that gender equality and economic output have a bidirectional relationship in D-8 countries, indicating that economic output also affects gender equality.
Global Economic Landscape: From 5 ‘G’ To Polycrisis, and the Outlook Scenarios Azis, Iwan J
Muslim Business and Economics Review Vol. 2 No. 2 (2023)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v2i2.201

Abstract

Learning from ‘Great Moderation’ to the ongoing ‘Geoeconomic Fragmentation,’ past episodes of capital flows can explain the evolution of global economy and the associated vulnerabilities. The events in all episodes are related to one another, and the corresponding vulnerabilities are interrelated. Together with the expected and unexpected contemporary shocks (pandemic, wars, geopolitical tensions) the built-up vulnerabilities contribute indirectly to the current sorry-state of global economy. As uncertainties abound, and the world is in polycrisis, it is difficult to forecast what is going to happen. Any estimate, including those made by the international organizations are subject to change. The outlook scenarios mapped out in this paper is intended to help us just to frame thinking about the potential paths ahead.
The Commonalities of Socially Responsible Investment With Islamic Finance: A Bibliometric Analysis Muttaqin, Ecky Imamul
Muslim Business and Economics Review Vol. 3 No. 1 (2024)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v3i1.184

Abstract

This study aims to evaluate the number of overviews on the commonalities of socially responsible investment (SRI) with Islamic finance by providing critical thinking in terms of the investment screening process. The main critical reviews are obtained from the articles, paperwork, and previous related studies from reputable open access journals such as Emerald, SSRN databases, and other indexed-Scopus on the Web of Science. This study finds that the commonalities of socially responsible investment with Islamic finance has seemingly been characterized as a slow-moving but unstoppable works since global movements aspire to prevent a transgression of Earth's boundaries towards financial risks. Intertemporal choice accounts for how reliable constitutes for transitioning and adapting planetary boundaries in investment decisions. The challenge is to bridge the postulated gap on the commonalities of SRI with Islamic finance leading into social and financial return aspects in order to construct long-term predictions and scenarios embodying the Islamic finance concept through environmental, social and governance (ESG) approach.
ZISWaf Intention Through Islamic Philanthropy Organizations: Does Empathy Matter? The Role of the S-O-R Framework and TPB Saputra, Yudi
Muslim Business and Economics Review Vol. 3 No. 1 (2024)
Publisher : Universitas Islam Internasional Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56529/mber.v3i1.188

Abstract

This research aims to examine the variables that affect people’s intention to pay zakat, infaq, shodaqoh, and waqf (ZISWaf) through Islamic philanthropy organizations (IPOs) in Indonesia. This research uses the Stimulus-Organism-Response (S-O-R) framework and the Theory of Planned Behavior (TPB) as the model framework. This research is quantitative with primary data, obtained through online surveys by random sampling method, with 145 respondents participating in further analysis stages using SEM-PLS. From the analysis carried out, Islamic religiosity is found to be the variable that most influences ZISWaf intention. As an indirect effect, perceived credibility is significantly proven to mediate the relationship between transaction convenience and ZISWaf intention. On the other hand, empathy is not found to have a relationship with ZISWaf intention. Several arguments may explain why empathy is not proven to be influential variable in the context of ZISWaf. These findings can be used as an academic foundation for IPOs as ZISWaf fund managers, to develop the credibility issues as a strategic step in increasing intention to pay ZISWaf through IPOs. This study makes several recommendations, including the separation of donation types based on time periods. This research offers a comprehensive model, while still considering the proven theoretical framework. From an academic perspective, this research provides a fresh viewpoint to Islamic philanthropy from an empirical-based approach.

Page 3 of 5 | Total Record : 49

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