cover
Contact Name
Yuli Andriansyah
Contact Email
yuliandriansyah@uii.ac.id
Phone
+6285369607374
Journal Mail Official
jurnal.lariba@uii.ac.id
Editorial Address
Gedung K.H. A. Wahid Hasyim, Kampus Terpadu UII, Jl. Kaliurang KM 14,5, Besi, Sleman, DI Yogyakarta, 55584
Location
Kab. sleman,
Daerah istimewa yogyakarta
INDONESIA
Journal of Islamic Economics Lariba
ISSN : 24774839     EISSN : 25283758     DOI : https://doi.org/10.20885/jielariba
Journal of Islamic Economics Lariba provides a platform for academicians, researchers, lecturers, students, and others having concerns about Islamic economics, finance, and development. The journal welcomes contributions on the following topics: Islamic economics, Islamic public finance, Islamic finance, Islamic accounting, Islamic business ethics, Islamic banking, Islamic insurance, Islamic human resource management, Islamic microfinance, Islamic capital market, and other relevant Islamic economic and financial studies.
Articles 251 Documents
The Relationship Between Macroeconomics Variables and Islamic Stock Market Returns Listed in Indonesian Islamic Stock Index Widyan Apriliska Fajri; Devita Alliv Nurdiana; Sulistya Rusgianto
Journal of Islamic Economics Lariba Vol. 6 No. 2 (2020)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

ABSTRACT:The aim of this paper is to explore the extent to which macroeconomic variables affect the Islamic stock market behavior in Indonesia between Oct 2014 until the end of 2019. The paper uses the latest estimation technique of Autoregressive Distributed Lag (ARDL) model approach to cointegration. The data used is secondary data by collecting data from the official websites of Bank Indonesia, BPS, IDX, and Indopremier. The results suggest that GDP, interbank interest rates, IHSG seem to be suitable targets for the government to focus on in short-term. As for long-term, the GDP and IHSG significantly influence the Islamic stock market return, and that's the targets for the government to focus in order to stabilize the Islamic stock market and to encourage more capital flows into the market.Keywords: Islam, Stock Market, Macroeconomics, Indonesia
Sharia Bank Management’s Problems Widyarini Widyarini; Syamsul Hadi
Journal of Islamic Economics Lariba Vol. 7 No. 1 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss1.art3

Abstract

This paper aims to qualitatively examine the reasons for the insecurity of sharia bank implementation. The study uses descriptive methods of analytics using databases published by Sharia Banks on their web sites. This study concludes that the definition of an akad in Law no. 21/2008 does not conform to the definition of MUI’s fatwa, the use of Wadiah and Mudharabah agreements for funding are potentially dholim. Murabahah financing products are potentially haram, Musyarakah application is not appropriate, Ijarah has the potential to violate fiqh; Ijarah Muntahiyya Bi Al Tamlik provides uncertainness for customers. This paper suggests regulators to change the definition of an akad in Law no. 21/2008, Sharia Bank does not use akad wadiah in funding activities, makes adjustments to mudharabah's share of profit, improves murabahah procedures and pricing, and MUI amends Fatwa no. 27/2002.  
Revitalization of Fiqh Al-Bi'ah in the Implementation of Green Banking for Islamic Bank Mohammad Farid Fad
Journal of Islamic Economics Lariba Vol. 7 No. 1 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss1.art2

Abstract

The banking industry can play a role in a balanced manner between economic growth and environmental protection. This kind of banking is called green banking, a banking system that operates its business based on the principles of sustainable development to carry out environmentally friendly practices and reduce the carbon footprint of banking operations. This study aims to understand the philosophy of green banking and its implementation in an effort to revitalize the values of fiqh al-bi'ah. The type of method used in this research is a qualitative method. Meanwhile, in the analysis, researchers used descriptive-analytical methods to systematically analyze and analyze facts that are accurate and accurate. This study found that in green banking practice there is harmony with the principles of environmental fiqh, namely in the management of environmental preservation obligations. With carbon emission policies and financing of environmentally friendly projects, green banking can play a dual role, namely supporting national development and economic growth against mafsadat by protecting the environment from arbitrary exploration and exploitation activities.
Sukuk Rating and Financial Ratio of Islamic Banks Kurnia Agustina; Heni Noviarita; Erike Anggraini; Surono Surono
Journal of Islamic Economics Lariba Vol. 7 No. 1 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss1.art1

Abstract

The risk of default if the rating shows a decreasing result over several years of maturity measurement that can apply in banking institutions requires banking institutions to maintain or even increase the rating of sukuk issued. The purpose of this study is to discuss the effect of profitability ratios, liquidity ratios, leverage, and productivity ratios on the rankings of sukuk in Islamic banking institutions issuing sukuk. By using purposive sampling from 14 Islamic banks, 6 Islamic banking institutions were obtained as research samples in the 2015-2019 period, which were analyzed using multiple linear regression showing that only the productivity variable had a significant and positive influence on the rankings of sukuk in Islamic banking institutions, although with positive coefficient, profitability does not have a significant effect on the sukuk rating. Meanwhile, the liquidity and leverage variables did not have a significant effect and formed a negative relationship pattern on the sukuk rating in the Indonesian Islamic banking institutions issuing the sukuk. This concludes that only the productivity ratio can increase the rating of sukuk issued by banking institutions, while other ratios such as profitability do not have a significant effect and the financial ratios of liquidity and leverage will decrease the rating of the sukuk. So, this research suggests that in maximizing the rating of sukuk, the proxies for banking productivity should be increased.
Retracted: Analysis of Impact of CAR and ISR on ROA of Sharia Banks Listed on JII for the 2015-2019 Period Yuli Astuti; Tulus Suryanto; Heni Noviarita; Surono Surono
Journal of Islamic Economics Lariba Vol. 7 No. 2 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss2.art1

Abstract

The purpose of this research is to find out whether there is an effect of Capital Adequacy Ratio and Islamic Social Responsibility on Return On Assets both in terms of partial and simultaneous testing. Collecting data in this study is to use secondary data from the financial statements of Islamic companies listed on the Jakarta Islamic Index. By using two blades of analysis, namely simple linear regression analysis and multiple linear regression analysis. Based on the results of simple regression analysis, it is known that partially CAR affects ROA and partially ISR affects ROA. Then simultaneously CAR and ISR influence ROA. Therefore, the role of profit in the company has an influential role, because the main objective of the company's operations is to achieve maximum profit. Information on profit achievement is not only useful for external parties such as the public as users of Islamic financial institutions as service companies and internal parties as parties who carry out or run the company in order to determine steps how to run the company to make a profit. Retraction Notice: This article is retracted on April 17, 2022, after Editor in Chief found out that the same manuscript has been published in other journals: https://doi.org/10.19109/ieconomics.v7i2.8983 and https://doi.org/10.24090/mabsya.v3i2.4857
Overcoming the Economic Crisis due to a Pandemic through Islamic Finance Muhammad Ammar Ashraf
Journal of Islamic Economics Lariba Vol. 7 No. 1 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss1.art7

Abstract

The Covid-19 disaster is an exogenously induced downturn that is expected to leave 2021 global GDP approximately 5 percentage points lower than in January 2020 pre-Covid-19 estimates. The negative impact on low-income households is especially severe, jeopardizing the world's significant progress in reducing extreme poverty since the 1990s. To react to frequent crises and catastrophe global economic stagnation, a new paradigm is required. Institutionalized risk-sharing can assist the global economy in resiliently absorbing shocks and stimulating stagnant demand. Islamic finance principles assist the economy in avoiding endogenously generated crises, such as the Global Financial Crisis, and provide a strong safety net against exogenously induced cycles, such as the Covid-19 crisis. In practice, this necessitates a diverse set of well-functioning institutions to translate these principles into real-world impact. As it currently stands, the Islamic financial industry’s many essential components of this spectrum are still missing. The crisis should be viewed as an opportunity to fill gaps and diversify the industry. Given the fact that the Covid-19 crisis is exogenously induced, the impact on Islamic banks is expected to be comparable to that on conventional banks. The similarity of their business model, sharia-compliant equities, on the other hand, outperformed their conventional counterparts. The ineffectiveness of non-profit organizations, like awqaf and zakat, reduced the role of the safety net in curbing the repercussions of the crisis. The Covid-19 pandemic poses liquidity, resilience, and capital challenges for the Islamic banking sector.
The Impact of Spin-off Policy on the Efficiency of Sharia Insurance in Indonesia using DEA approach Abdul Ghoni; Erny Arianty
Journal of Islamic Economics Lariba Vol. 7 No. 1 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss1.art5

Abstract

This study aims to determine the impact of the spin-off on the level of efficiency of Sharia insurance in Indonesia by using the Data Envelopment Analysis (DEA) method. This study uses data from companies that have undergone a spin-off, namely Jasindo Syariah and Askrida Syariah, both before the spin-off and after the spin-off. Input data are assets, operating expenses, while output data are profit and operating income for a period of 5 years each. From the results of data processing, it shows that the two companies experienced a decrease in their level of efficiency towards profits after spin-off, but the level of efficiency on income, for Sharia Jasindo are relatively stable, while the Sharia Askrida has decreased.
Buying and Selling Shares in the Capital Market (Comparative Study of Fatwa Opinions of DSN and Contemporary Fuqaha) Hulaiva Pary; Jaenudin Jaenudin; Muh. Fauzan Januri
Journal of Islamic Economics Lariba Vol. 7 No. 2 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss2.art2

Abstract

There are many differences of opinion among the scholars in establishing a law itself. This study aims to compare the opinion of fatwa DSN with Fuqaha Kontempore in establishing the law of Buying and Selling Shares. The approach used in this writing is a normative juridical approach. The authors used a qualitative type of research. The result that the author can conclude is that the law of buying and selling shares is permissible it is also forbidden. Among them are opinions according to contemporary fuqaha, some argue that the sale and purchase of legal shares are permissible, and some are forbidden. Meanwhile, according to fatwa DSN, ensuring the transaction of buying and selling halal shares.
Creative Industry Development as a Local Economic Development Effort Hasnidar Yuslin
Journal of Islamic Economics Lariba Vol. 7 No. 1 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss1.art6

Abstract

The creative industry sector is quite mushrooming in Indonesia, one of which is in South Sulawesi Province right in Bone Regency, Awangpone District, Compong'e Village. This study aims to describe how the development of the creative industry as an effort to develop the local economy in DD songko' Recca. This research is descriptive qualitative with data collection techniques using observation and interviews. The findings show that the development of this creative industry can increase local economic development. The implications found it is hoped that the community, especially songko' recca craftsmen, in addition to this industry being used as local economic development, it is also hoped that in the manufacture of songko' recca still pay attention to the aesthetic values that have become the hallmark of this craft, and for the local government good communication is needed. as well as more attention by providing facilities and infrastructure in making songko' recca so that it can run effectively and efficiently. In addition, a work program in the relevant agencies is needed for the development of the creative industry, especially the manufacture of songko' recca. Keywords: creative industry, local economic development
Higher Education Financing Model Through Cash Waqf: An Exploratory Study Deden Misbahudin Muayyad; Didik Jatmiko
Journal of Islamic Economics Lariba Vol. 7 No. 2 (2021)
Publisher : Department of Islamic Economics, Islamic University of Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol7.iss2.art3

Abstract

The purpose of this study was to analyze the financing model for higher education through cash waqf. The data used is primary data obtained from the results of interviews (in-depth interviews) with experts who have an understanding of the problems discussed. The number of participants required is 3 participants. In addition, data was collected from a library review. The analytical method used in this study used a qualitative method with the help of atlas ti software. The results of the study indicate that in an effort to support sustainable higher education, it is necessary to establish a cash waqf institution managed by the higher education, after that cash waqf funds can be used for the purposes of higher education institutions such as student scholarships, allowances for lecturers and education staff, facilities and infrastructure, and investment.

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