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Journal of Visionary Sharia Economy (JOVISHE)
Published by Yayasan Lembaga Studi Makwa
ISSN : -     EISSN : 29647908     DOI : https://doi.org/10.57255/jovishe
Core Subject : Economy, Science, Social,
Computer Science & IT Economics, Econometrics & Finance Social Sciences
The Journal of Visionary Sharia Economy (JOVISHE) is a platform dedicated to advancing scientific understanding of Islamic economics and finance, with a focus on global issues and long-term problem-solving in the field. This journal is an appropriate venue for scholarly discussions on various aspects of Islamic economics and finance. JOVISHE publishes research articles covering regulations, implementation, and the long-term economic impact of Islamic finance on societal welfare. The journal is published by Yayasan Lembaga Studi Makwa (Makwa Foundation).
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 7 Documents
 1 
Search results for , issue "Vol. 1 No. 1 (2022): Edition June 2022" : 7 Documents clear
Sharia Monetary Policy Instruments in Indonesia Abi Suar; Zandy Pratama Zain; Hijrasil
JOVISHE : Journal of Visionary Sharia Economy Vol. 1 No. 1 (2022): Edition June 2022
Publisher : Yayasan Lembaga Studi Makwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57255/jovishe.v1i1.63

Abstract

In Islamic monetary policy, there is no known interest system. The instruments used in Islamic monetary policy are also different from monetary policy in general because they are not familiar with the interest system. Precisely with the unknown interest system, making Islamic monetary policy more resistant to economic turmoil so that in the end the ultimate goal of monetary policy can be achieved and will be able to become a new tool in maintaining economic stability. The approach used in this study is Literature review using the Systemic Literature Review (SLR) method. The purpose of this study is to find out how the Islamic Monetary Policy Instrument is defined, mazhab and its implementation in Indonesia.Indonesia as a country that implements a dual monetary system, Indonesia also conducts monetary policy through OMS or Sharia Monetary Operations. Sharia Monetary Operation is the implementation of monetary policy by Bank Indonesia in the context of monetary control through open market operations and the provision of standing facilities based on sharia principles. The objectives of CSOs areachieve the operational target of sharia monetary control in order to support the achievement of the final target of Bank Indonesia's monetary policy. Abstrak Dalam kebijakan moneter Islam, tidak dikenal sistem bunga. Instrumen yang digunakan dalam kebijakan moneter syariah juga berbeda dengan kebijakan moneter pada umumnya karena belum mengenal sistem bunga. Justru dengan tidak dikenalnya sistem bunga membuat kebijakan moneter syariah lebih tahan terhadap gejolak ekonomi sehingga pada akhirnya tujuan akhir kebijakan moneter dapat tercapai dan mampu menjadi alat baru dalam menjaga stabilitas ekonomi. Pendekatan yang digunakan dalam penelitian ini adalah Literature review dengan menggunakan metode Systemic Literature Review (SLR). Tujuan dari penelitian ini adalah untuk mengetahui bagaimana definisi Instrumen Kebijakan Moneter Syariah, mazhab dan implementasinya di Indonesia. Indonesia sebagai negara yang menerapkan sistem moneter ganda, Indonesia juga melakukan kebijakan moneter melalui OMS atau Operasi Moneter Syariah. Operasi Moneter Syariah adalah pelaksanaan kebijakan moneter oleh Bank Indonesia dalam rangka pengendalian moneter melalui operasi pasar terbuka dan pemberian standing facilities berdasarkan prinsip syariah. Tujuan CSO adalah untuk mencapai sasaran operasional pengendalian moneter syariah dalam rangka mendukung pencapaian sasaran akhir kebijakan moneter Bank Indonesia.
Determinants of Poverty in Indonesia and its Policy Implications, Multidimensional Approach to Measuring Poverty Ahmad Syahrul Fauzi; Sri Runtiningsih; Faisal Hidayat
JOVISHE : Journal of Visionary Sharia Economy Vol. 1 No. 1 (2022): Edition June 2022
Publisher : Yayasan Lembaga Studi Makwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57255/jovishe.v1i1.70

Abstract

Poverty is not a single phenomenon, it is diverse and multidimensional. In Indonesia, which is socio-economically and demographically diverse, measurement of poverty based on an expenditure approach can’t comprehensively represent deprivation faced by the poor. This paper adopted Alkire and Foster’s multidimensional framework to estimate poverty and to identify the poor in Indonesia. It has analyzed data on 10 indicators pertaining to three valuable dimensions of well-being: education, health, and standard of living. This study uses data from Indonesia Family Life Survey (IFLS) 2014, then this study finds that 19.6% of the population in 2014 are categorized as being poor. In this study, poverty determinants are divided into three types including characteristics of regional, community and household. Based on results of logit estimation, all variables that representing regional characteristics industrial sector, agricultural sector and urban) has negative and significant effect on probability of a household to being poor. Then, there are two variables in community character that has negative and significant effect on probability of a household to being poor, that is access to electricity and access to school. Furthermore, there is one variable in household characteristics that has a negative and significant effect on probability of a household to being poor, that is home ownership.
Pengaruh Spillover Effect Terhadap Return Saham Perbankan yang Terdaftar di Bursa Efek Indonesia (Studi Kasus pada BUMN) Moulida Moulida; Muhammad Rasyidi; Raja Sakti Putra Harahap
JOVISHE : Journal of Visionary Sharia Economy Vol. 1 No. 1 (2022): Edition June 2022
Publisher : Yayasan Lembaga Studi Makwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57255/jovishe.v1i1.75

Abstract

Penelitian ini bertujuan untuk menjelaskan Pengaruh dari Spillover Effect Terhadap Retunr Saham Perbankan Yang Terdapat Di Bursa Efek Indonesia (Studi Kasus Pada Bank BUMN) dari bulan Januari 2015 sampai dengan Desember 2020. Jenis data dalam penelitian ini adalah data sekunder dan analisis data yang digunakan model Regresi Berganda. Bahwa pengaruh dari Yuan_China berpengaruh negative tetapi signifikan terhadap Return Saham Perbankan BBMI dan BBRI yang artinya ketika mata Yuan_China menurun maka Return Saham perbankan juga akan turut menyeret nilai tukar uang Indonesia yang imbasnya pada sektor perdagangan yang mana ketika terjadi pelemahan Rupiah maka nilai ekspor Indonesia di neraca perdagangan bakal tertekan. Selanjutnya Yuan_China berpengaruh positif dan signifikan terhadap Return Saham Perbankan BBNI dan BBTN yang artinya ketika Bank Indonesia memiliki kerja sama LCS memberikan banyak manfaat kepada pelaku usaha seperti biaya konversi transaksi valuta asing yang lebih efisien,tersedianya alternative pembiayaan perdagangan dan investasi langsung dalam mata uang lokal. Kemudian pengaruh dari US_Dolar berpengaruh positif tetapi tidak signifikan terhadap Return saham Perbankan BBMI dan BBRI yang artinya ketika Bank Indonesia mengikuti tren langkah membuang Dollar Amerika Serikat yang mana dilakukan untuk transaksi antar negara maupun memperkuat transaksi di salam negeri, Bank Indonesia menyelesaikan transaksi penggunaan mata uang antar negara (LCS) untuk Indonesia dan China, kerja sama ini memperbolehkan penggunaan mata uang lokal setiap kali berlangsung transaksi perdagangan bilateral maupun investasi. Abstract This study aims to explain the Effect of Spillover Effect on Banking Stock Returns on the Indonesia Stock Exchange (Case Study on State-Owned Banks) from January 2015 to December 2020. The type of data in this study is secondary data and the data analysis used is the regression model. Double. That the influence of Yuan_China has a negative but significant effect on Banking Stock Returns of BBMI and BBRI, which means that when the Yuan_China currency declines, the Return of Banking Stocks will also drag down the Indonesian currency exchange rate which has an impact on the trade sector where when there is a weakening of the Rupiah, the value of Indonesia's exports will be on the balance sheet. trade will be depressed. Furthermore, Yuan_China has a positive and significant effect on Banking Stock Returns of BBNI and BBTN, which means that when Bank Indonesia has LCS cooperation, it provides many benefits to business actors such as more efficient conversion costs of foreign exchange transactions, availability of alternative trade financing and direct investment in local currency. Then the influence of the US Dollar has a positive but not significant effect on the Return of BBMI and BBRI Banking shares, which means that when Bank Indonesia follows the trend of discarding the United States Dollar which is carried out for transactions between countries and strengthens transactions in domestic greetings, Bank Indonesia completes transactions using international currencies. countries (LCS) for Indonesia and China, this cooperation allows the use of local currency whenever bilateral trade or investment transactions take place.
Respon Pasar Keuangan Terhadap Risiko Politik dan Risiko Ekonomi di Indonesia Raisa Raisa; Muhammad Rasyidin; Raja Sakti Putra Harahap
JOVISHE : Journal of Visionary Sharia Economy Vol. 1 No. 1 (2022): Edition June 2022
Publisher : Yayasan Lembaga Studi Makwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57255/jovishe.v1i1.76

Abstract

Latar belakang penelilitian ini di awali oleh  kebijakan politik di Indonesia akan memmpengaruhi terhadap risiko politik yang bedampak terhadap risiko ekonomi secara makro di Indonesia. Respon pasar menajadi bagian penentu terkait dengan pertumbuhan ekonomi di ndonesia dengan melihat tren pasar untuk melanjutkan atau membatalkan investasi di Indonesia. Resiko politik menjadi ancaman bagi risiko ekonomi dalam membangun kepercayaan invenstor untuk berinvestasi serta membangun respon pasar yang positif dikalangan invenstor.  Penelitian ini bertujuan untuk menjelaskan respon pasar keuangan terhadap risiko politik dan risiko ekonomi di Indonesia dari tahun 1992-2021. Jenis data dalam penelitian ini adalah data sekunder dengan menggunakan metode kuantitatif dan model VAR . hasil penelitian ini menyatakan bahwa pasar keuangan merespon negative terhadap risiko politik artinya apabila suatau negara terdapat tingkat risiko politik yang tinggi maka pasar keuangan  akan terganggu atau dapat membuat saham menjadi menurun, pasar keuangan juga memberikan respon yang negative terhadap risiko ekonomi artinya ketika risiko ekonomi tinggi maka akan membuat pasar keuangan menjadi tidak stabil. Abstract The background of this research was initiated by the political policies in Indonesia that will affect political risks that have an impact on macro-economic risks in Indonesia. Market response is a determining factor related to economic growth in Indonesia by looking at market trends to continue or cancel investment in Indonesia. Political risk becomes a threat to economic risk in building investor confidence to invest and building a positive market response among investors. This study aims to explain the response of financial markets to political and economic risks in Indonesia from 1992-2021. The type of data in this study is secondary data using quantitative methods and the VAR model. The results of this study state that financial markets respond negatively to political risk, meaning that if a country has a high level of political risk, the financial market will be disrupted or it can make stocks decline, financial markets also respond negatively to economic risk, meaning when economic risk is high, then would make financial markets unstable.
Analisis Pengaruh Simpan Pinjam Khusus Perempuan (SPP) dalam Mengurangi Tingkat Kemiskinan Yossi Desvi Yanti; Awaluddin Awaluddin
JOVISHE : Journal of Visionary Sharia Economy Vol. 1 No. 1 (2022): Edition June 2022
Publisher : Yayasan Lembaga Studi Makwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57255/jovishe.v1i1.77

Abstract

Penelitian ini dilatar belakangi oleh Simpan Pinjam Khusus Perempuan (SPP) merupakan salah satu upaya pembangunan ekonomi guna mengatasi tingkat kemiskinan masyarakat dan untuk dapat meningkatkan taraf hidup dengan mengembangkan usaha yang dikelola. Metode penelitian yang digunakan adalah metode kuantitatif, populasi dalam penelitian ini masyarakat yang menerima dana Simpan Pinjam khusus Perempuan (SPP) melalui UPK Syariah Tujuah Sarumpun Kecamatan Ampek Angkek Kabupaten Agam, Penelitian ini menggunakan uji instrumen penelitian, uji asumsi klasik, teknik analisis regresi linear sederhana dan untuk menguji hipotesis digunakan uji koefisien determinasi (R2) dan uji parsial (t). instrumen penelitian data menggunakan kuesioner dengan skala likert yang sudah di uji dan memenuhi syarat validitas dan reliabilitas. Hasil yang di dapatkan dari penelitian ini menunjukkan Simpan Pinjam Khusus Perempuan (SPP) pada UPK Syariah Tujuah Sarumpun Kecamatan Ampek Angkek Kabupaten Agam berpengaruh signifikan dan positif terhadap variabel Y (Kemiskinan) sebesar 7,4%.AbstractWomen (SPP) is one of the economic development efforts to overcome the poverty level of the community and to be able to increase the standard of living by developing managed businesses. The research method used is a quantitative method, the population in this study is the community that receives special Savings and Loans for Women (SPP) funds through the UPK Syariah Tujuah Sarumpun, Ampek Angkek District, Agam Regency. This research uses research instrument tests, classical assumption tests, simple linear regression analysis techniques and to test the hypothesis used the coefficient of determination test (R2) and partial test (t). data research instrument using a questionnaire with a Likert scale that has been tested and meets the requirements of validity and reliability. The results obtained from this study indicate that the Women's Special Savings and Loans (SPP) at UPK Syariah Tujuah Sarumpun, Ampek Angkek District, Agam Regency has a significant and positive effect on the Y variable (Poverty) of 7.4%
Analisis Peran Strategis Bank Syariah Indonesia Terhadap Pertumbuhan Ekonomi di Indonesia Pasca Covid-19 Resi Harniati; Asnaini Asnaini; Faisal Muttaqin
JOVISHE : Journal of Visionary Sharia Economy Vol. 1 No. 1 (2022): Edition June 2022
Publisher : Yayasan Lembaga Studi Makwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57255/jovishe.v1i1.78

Abstract

Tujuan penelitian ini adalah untuk mengetahui peran keberadaan Bank Syariah Indonesia (BSI) terhadap ekonomi di Indonesia berdasarkan pada perspektif muamalah yang berkaitan dengan syariah islam serta mengetahui peran strategis yang dilakukan Bank Syariah Indonesia (BSI) dalam mendorong pertumbuhan ekonomi di Indonesia pasca covid-19. Untuk menguji hal ini, peneliti menggunakan metode kualitatif dengan desain studi pustaka (library Research) dengan teknik pengumpulan data sekunder berupa observasi, studi literature dan dokumentasi. Teknik analisis data yang digunakan adalah analisis isi (Content Analysis). Dari hasil penelitian ditemukan bahwa keberadaan bank syariah Indonesia memiliki peranan penting dalam pertumbuhan ekonomi sebagai sektor industri keuangan syariah yang menerapkan prinsip muamalah berdasarkan Al-Quran dan as-sunnah,  dan peran strategis bank syariah Indonesia dalam meningkatkan pertumbuhan ekonomi salah satunya dengan meningkatkan perkembangan pembiayaan modal bagi pelaku usaha khususnya dibidang UMKM untuk meningkatkan aktivitas ekonomi yang berpengaruh pada pertumbuhan ekonomi Negara, untuk meningkatkan pendapatan produk domestik bruto (PDB), mengurangi tingkat kemiskinan dan pengangguran serta menjaga tingkat inflasi yang stabil. Dimana saat itu perekonomian Indonesia melemah di tahun 2020, bahkan seluruh dunia mengalami kesulitan ekonomi yang disebabkan oleh wabah covid-19, virus ini tidak hanya menyerang kesehatan fisik namun juga menyerang kesehatan ekonomi finansial manusia. Abstract The purpose of this study was to determine the role of the Indonesian Sharia Bank (BSI) in the economy in Indonesia based on the muamalah perspective related to Islamic sharia and to find out the strategic role played by the Indonesian Sharia Bank (BSI) in encouraging economic growth in Indonesia post-covid-19.  To test this, researchers used qualitative methods with a library research design with secondary data collection techniques in the form of observation, literature study and documentation.  The data analysis technique used is content analysis.  From the results of the study it was found that the existence of Indonesian Islamic banks has an important role in economic growth as an Islamic financial industry sector that applies muamalah principles based on the Al-Quran and as-sunnah, and the strategic role of Indonesian Islamic banks in increasing economic growth is one of them by increasing development  capital financing for business actors, especially in the field of UMKM to increase economic activity that affects the country's economic growth, to increase gross domestic product (GDP) income, reduce poverty and unemployment rates and maintain a stable inflation rate.  At that time, the Indonesian economy was weakening in 2020, even the whole world was experiencing economic difficulties caused by the Covid-19 outbreak. This virus not only attacked physical health but also attacked human financial and economic health.  
Income and Cost Analysis of Profitability in the Baitul Maal Wa Tamwil Sidogiri Savings and Loans Cooperative, Mempawah Branch Al-Amin Al-Amin; Wira Andespa
JOVISHE : Journal of Visionary Sharia Economy Vol. 1 No. 1 (2022): Edition June 2022
Publisher : Yayasan Lembaga Studi Makwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57255/jovishe.v1i1.169

Abstract

BMT cabang mempawah sidogiri sebagai lembaga atau koperasi keuangan syariah yang memberikan jasa keuangan, tentunya menghasilkan pendapatan dan beban sebagai bagian dari kegiatan operasionalnya. Tujuan dari penelitian ini adalah untuk melihat profitabilitas pendapatan biaya. Metode penelitian ini bersifat deskriptif dengan pendekatan kuantitatif dan analisis SPSS windows. Hasil dari penelitian ini adalah hasil uji signifikansi individu (t-test) diperoleh skor signifikansi terhadap pendapatan sebesar 0,001 yang lebih kecil dari 0,05 atau 5%, artinya pendapatan berpengaruh terhadap profitabilitas simpan pinjam syariah. kooperatif . Berdasarkan hasil uji signifikansi individual (Uji-t), diperoleh nilai signifikansi biaya sebesar 0,002, nilai ini kurang dari 5% yang berarti biaya berpengaruh terhadap profitabilitas Koperasi Simpan Pinjam Syariah. Berdasarkan perhitungan koefisien determinasi (R-squared) diperoleh nilai R-squared sebesar 0,990 yang berarti bahwa 99% profitabilitas simpan pinjam syariah dipengaruhi oleh biaya dan pendapatan dan sisanya. Abstract BMT mempawah sidogiri branch As a sharia financial institution or cooperative that provides financial services, of course it generates income and expenses as part of its operational activities . The purpose of this research is to look at the profitability of cost revenues. This research method is descriptive with a quantitative approach and SPSS windows analysis. The results of this study are the results of the individual significance test (t-test) obtained a significance score for income of 0.001 which is less than 0.05 or 5%, meaning that income affects the profitability of Islamic Savings and Loans. cooperative . Based on the results of the individual significance test (t-test), the cost significance value is 0.002, this value is less than 5%, which means that costs affect the profitability of Islamic Savings and Loans Cooperatives. Based on the calculation of the coefficient of determination (R-squared), an R-squared value of 0.990 is obtained, which means that 99% of the profitability of sharia savings and loans is influenced by costs and income and the rest.

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