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Al-Infaq : Jurnal Ekonomi Islam
ISSN : 20872178     EISSN : 25796453     DOI : https://doi.org/10.32832/alinfaq
Core Subject : Economy, Education,
Al-Infaq : Jurnal Ekonomi Islam published twice a year since 2010 (June and December), is a multilingual (Bahasa and English), peer-reviewed journal, and specializes in Islamic Economic. This journal is published by the Islamic Economic Department, Faculty of Islamic Studies, and Doctoral Program of Islamic Economic, Graduate School, Ibn Khaldun University of Bogor, in partnership with Ibn Khaldun University of Bogor, Indonesia, in partnership with Masyarakat Ekonomi Syariah (MES) Wilayah Bogor. Editors welcome scholars, researchers and practitioners of Islamic Economic around the world to submit scholarly articles to be published through this journal. All articles will be reviewed by experts before accepted for publication. Each author is solely responsible for the content of published articles.
Articles 6 Documents
Search results for , issue "Vol. 2 No. 1 (2011)" : 6 Documents clear
PERAN STRATEGIS ORGANISASI ZAKAT DALAM MENGUATKAN ZAKAT DI DUNIA Hafidhuddin, Didin
Al-Infaq: Jurnal Ekonomi Islam Vol. 2 No. 1 (2011)
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

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Abstract

One of the potentials which are still not utilized by the ummah is zakat fund. In Indonesia, this potential reaches 2 percent of GDP, which is not less than Rp 100 trillion per annum. As could be witnessed in the history, the use of zakat was able to alleviate poverty, especially during the glorious era of Caliph Umar bin Abdul Aziz. This paper attempts to discuss the strategies needed in order to realize the country's zakat potential. In addition, strengthening global zakat cooperation and network is highly needed as an effective way to overcome poverty which still exists in the Muslim world.
GLOBALISASI DAN TANTANGAN BAGI SISTEM KEUANGAN ISLAM: PERSPEKTIF FILSAFAT EKONOMI ISLAM Wahyu, Bambang
Al-Infaq: Jurnal Ekonomi Islam Vol. 2 No. 1 (2011)
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

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Abstract

The challenge of Islamic financial system today faced on globalization which has numerous power to influence the character and development of Islamic financial system. The risksharing and profit-sharing as core of Islamic finance be improved in order to increase the final solution of modern financial problems. But such ways has discussed mainly related to lack of financial instruments and diversification of portfolio.
THE IMPACT OF US MONETARY POLICY AND STOCK MARKETS TOWARD INDONESIA STOCK MARKETS Abduh, Muhamad
Al-Infaq: Jurnal Ekonomi Islam Vol. 2 No. 1 (2011)
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

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Abstract

The aim of this paper is to examine the interdependence revulsion of Indonesia Stock Markets (JCI) with the changes in US Monetary policy and Stock Markets (DJCI). The methodology used in this study is time series econometric techniques i.e. the unit root test, cointegration test, Granger’s causality and Vector Error Correction Model (VECM). The result reveals a short-term and long-term dynamic relationship between the US stock markets and the Indonesia one. A 1 percent increase in US stock markets contributes to Indonesia stock markets by 0.4 percent over the next 10 months. One of the policy implications is that the authority of Indonesia stock markets should strengthen and improve their regulations so that the susceptible of the stock markets can be minimized.
ANALISA TINGKAT PENGEMBALIAN PEMBIAYAAN BANK SYARIAH YANG LEBIH TINGGI DIBANDINGKAN DENGAN BANK KONVENSIONAL: STUDI KASUS MALAYSIA Arsyianti, Laily Dwi; Beik, Irfan Syauqi
Al-Infaq: Jurnal Ekonomi Islam Vol. 2 No. 1 (2011)
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

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Abstract

Islamic banking industry has become financial-nerve centre in today’s world economy, particularly in the last three decades. It has attracted various entrepreneurs and enterprises to get its financing. However, Islamic banks tend to have a higher rate of financing compared to the conventional ones. This less competitiveness encourage the demand for Islamic products may fall leaving the Islamic banks. Good debtors opted for conventional loans since the interest rates paid were relatively lower and the rest (the bad debtors) successfully made their way to Islamic banks. Therefore, the non-performing financing of Islamic banks is high. This paper attempts to analyze factors that determine high rate of financing in Islamic banks, by taking the case of Malaysian Islamic banks. In this paper, the top three of Islamic banks and conventional banks are selected for comparison. It finds that high default premium contribute significantly to the high financing rate, while the overheads per capital is no more significantly contribute to it. Hence, the Islamic banks should diversify their assets and implement universal banking concept.
DETERMINANTS OF BANKING CREDIT DEFAULT IN INDONESIA: A COMPARATIVE ANALYSIS Imaduddin, Muhammad
Al-Infaq: Jurnal Ekonomi Islam Vol. 2 No. 1 (2011)
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

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Abstract

Departing from the model developed by Jimẽnez and Saurina (2006), this study aims to analyse the determinants of Islamic banking credit default compared with conventional banking in Indonesia. This study utilised time-series analysis, by which ordinary least square method is adopted. 40 monthly data observations from January 2003 until April 2006 are used. The study is divided into two models, namely Islamic banking model and conventional banking model. The values of non-performing financing (NPF) in Islamic banking and nonperforming loan (NPL) in conventional banking are treated as the dependent variables. The results showed that two-month lagged of non-performing financing (NPF), total asset (ASSET), the amount of third-party-funds (TPF), one-month lagged of total financing (DFIN),and growth of gross-domestic product (GDPG) variables have significant impact to the ratio of non-performing financing (NPF) in Islamic banking. Meanwhile, the three-month lagged of non-performing loan (DDDNPL), total asset (CASSET), three-month as well as two-month period lagged of total loan (DDDCRED and DDCRED), inter-bank money market (PUAB), and growth of gross-domestic (GDPG) are significant to influence the ratio of non-performing loan (NPL) in conventional banking. The result also implied that the general election in 2004 had a significant influence to the ratio of non-performing financing (NPF) in Islamic banking. Eventough from the outset, it seems Islamic banking has a better performance than conventional banking by having a relatively low NPF, this study, however, has found the opposite. Albeit, Islamic banking showing a good long-run as well as short-run dynamics among all variables in the beginning, after modifying the model into autoregressive in the main analysis, results showed that conventional banking has a better performance than Islamic banking with higher correlation of determination. In this regard, we cannot assume that Islamic banking is performing poorly in managing credit default problems. This isbecause the result implied that the level of Islamic banking’s R-squared, R-bar-squared and DW values are good. Therefore, although Islamic banking is relatively a new comer in the Indonesian banking industry, it has shown a good performance in the banking credit risk management and can compete head-on with conventional banking, respectively.
MUSYARAKAH, MUDHARABAH DAN PERTUMBUHAN SEKTOR RIIL Hakiem, Hilman; Waluyo, Desi Silfiaratih
Al-Infaq: Jurnal Ekonomi Islam Vol. 2 No. 1 (2011)
Publisher : Fakultas Agama Islam, Universitas Ibn Khaldun Bogor

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Abstract

Indonesia's economic growth declined in the period 2004-2006. This is caused by too much focus on strengthening the monetary policy, otherwise the real sector less attention. As of May 2006, the bank funds are not channeled into the real sector reached Rp 393 trillion, which is then reinvested in the financial sector. The contradiction of real-monetary sector was due to the high interest rate policy of Bank Indonesia. On the one hand, this policy can reduce inflation, but on the other hand will result in the real sector become slow. This condition requires immediate implementation of an integral and gradual system of Islamic banks as a solution to solving the problem. This paper aims to describe how Islamic banks, through the scheme musyarakah and mudharabah, can improve the real sector growth in the context of overcoming the economic problems of Indonesia.

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