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Nur Hidayah
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iqtishad@uinjkt.ac.id
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Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta Jl. Ir. H. Juanda 95, Ciputat, South Tangerang, Banten-15412
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Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics)
Published by Universitas Islam Negeri Syarif Hidayatullah Jakarta
ISSN : 2087135X     EISSN : 24078654     DOI : 10.15408/aiq.v14i1.
Core Subject : Religion, Economy, Social,
Religion Economics, Econometrics & Finance Social Sciences
This journal focused on Islamic law on economics and finance studies and present developments through the publication of articles. Specifically, the journal will deal with topics, including but not limited to Islamic law on Islamic Banking, Islamic Marketing, Islamic Human Resources, Islamic Finance, Zakah, Waqf, Poverty Alleviation, Islamic Public Finance, Monetary Economics, Economic Development, Maqasid al-Shariah, Institutional Economics, Islamic management, Behavioural Economics and Finance, Corporate Governance, Risk Management, Shariah issues, Financial Engineering, Securitization and Sukuk, Islamic Capital Markets, Insurance and Takaful, Regulatory Issues, Corporate Social Responsibility in Islam and other topics which related to this area. The journal is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 11 Documents
 1   2 
Search results for , issue "Vol. 9 No. 2 (2017)" : 11 Documents clear
Effective Zakat Distribution: Highlighting Few Issues and Gaps in Kedah, Malaysia Al Haq, M Ashraf; Abd. Wahab, Norazlina Binti
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.4002

Abstract

The aim of this paper is to identify what are the impediments in implementing an effective Zakah distribution in Kedah, Malaysia. Auspiciously, post-colonial Malaysia is experiencing robustness in terms of Zakah collections, as the statistics are currently signifying, but at the same breath the degree of effectiveness in Zakah distribution has not been providentially catching that optimistic evolution. And even if, the Zakah is duly distributed, the point to note is that the effectivity of that distribution has indubitably remained in question. So this gap is an issue that has been observed by the givers, and if the collection is to increase further, the issue of effectivity in Zakah distribution needs to show a healthier trend to convince these worried payers. The implications of resolving the issues discussed below may assist to enhance this sector, if timely addressed and taken applicable measures for remediation. DOI: 10.15408/aiq.v9i2.4002
Bankruptcy Model Analysis: Comparative Studies Between Sharia and Non Sharia Manufacturing Companies Ruhadi, Ruhadi; Mai, Muhammad Umar
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.4466

Abstract

This study aims to find out three important things: first is based on the analysis of three bankruptcy models that Altman, Springate and Zmijewsky, which is the most accurate in predicting the potential bankruptcy of sharia and non sharia, secondly based on the most accurate model, whether sharia companies have a potential bankruptcy smaller than non_sharia. The third is to identify what is the most influential factors to the potential bankcruptcy for both sharia and non sharia companies. Trought the number of 458 unit observations of manufacturing companies and studies performed using Mean Square Error (MSE) and analysis of variance, it was found that the most accurate model in predicting potential bankruptcy is Altman Z_score. Based on this model could be found, statistically significant that a group of sharia has a potential bankruptcy smaller than the non_sharia. Based on the third question, could be found that good corporate governance have positive and significant effect to potential bankcruptcy for the sharia companies, while the rate exchange of rupiah to US dollar has negative and significant effect to ones. Other finding that the only institutional ownwership factor that have positif and significant effect to the potential bankcruptcy of the non sharia companies.DOI: 10.15408/aiq.v9i2.4466
The Important Selection Criteria in Choosing Islamic Banks: A Survey in Bahrain Al-Hadrami, Abdullah Hamzah; Hidayat, Sutan Emir; Al-Sharbti, Mohamed Isa
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.4635

Abstract

Selection criteria of banks in general and Islamic banks in particular have been given high attention by the marketing researchers nowadays. But this kind of research is still insufficient in numbers especially in the developing countries. Therefore, this study aims to identify the important selection criteria that are considered by customers in selecting Islamic banks in the Kingdom of Bahrain. A 5-Likert scale survey questionnaire and ANOVA were used as the research method. The results indicate that the religious factors were ranked as the most important selection criteria for selecting Islamic banks. The study also found service quality factors as the second important selection criteria. This study is expected to provide Islamic banks in Bahrain with some inputs in setting up their marketing strategies in order to attract new customers and retain their existing customers. This study is also expected to add value to the literature by providing the updated empirical study in the area. DOI: 10.15408/aiq9i2.4635
Currency System and Its Impact on Economic Stability Saharuddin, Desmadi; Rama, Ali
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.4749

Abstract

A number of economic problems that occurred during the power of Mamluk (1250-1517 AD) was considered as a result of the change to currency system, namely from the system of commodity-based money (gold and silver) into paper-based money (fiat). Instability prices, decrease of trading activities, high of unemployment number were a number of economic indicators that occurred at that time. This issue of macro-economy was considered as a result of changes in the money system. This study analyzes the dynamic relationship between the price of gold as a representation of commodity money system and M2 as a representation of fiat money against the stability of economic indicators such as inflation, economic growth, stock prices, and unemployment and interest rates. This study found that both systems not vary significantly against each other in its influence on macroeconomic variables. It means that the two systems do not have contrast distinction. Indeed, it was found that the commodity-based money system is not free of inflation, as propagated by the supporters of the dinar and dirham (dinarist). DOI: 10.15408/aiq.v9i2.4749
Risk of Debt-Based Financing in Indonesian Islamic Banking Effendi, Kharisya Ayu
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.4821

Abstract

The purpose of this study is to know the risk of debt-based financing in Islamic banking in Indonesia by using an accounting based calculation, those are NPF analysis, Credit risk Z-score and Altman Z-score. This study is telling about the risk of debt-based finacing on Indonesian Islamic banking using an accounting based measurement, those are NPF analysis, Credit Risk Z-score analysis and Altman Z-score analysis. The data was obtained from 2011 to 2015 from the website of each bank. The result is a risk on debt-based financing on Indonesian Islamic banking is low. The measurement using 3 accounting based measurement tool gives a consistent result, that is Indonesian Islamic banking use a debt-based financing have a high financial stability and a low risk.DOI: 10.15408/aiq.v9i2.4821
Islamic Banking Existence and Domestic Credit: Study at Seven Countries Yuafi, Hamdan; Bawono, Anton
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.4906

Abstract

This paper empirically investigates the determinants of domestic credit across a wide range of 7 countries; these are United Kingdom, Malaysia, Egypt, Kuwait, Qatar, Bahrain and Indonesia. We use dynamic panel estimation to examine effects of exchange rate, inflation, lending interest rate, banking crisis and existence of wholesale Islamic banking on domestic credit. We obtain several notable empirical results. First, the lending interest rate, banking crisis negatively and insignificantly contribute to domestic credit. The existence of Islamic bank has positive and insignificant contribution to domestic credit, while exchange rate positively and significantly contributes to domestic credit.  Inflation negatively and significantly contributes to domestic credit. Second, banking crisis and existence of wholesale Islamic banking show insignificant effect on domestic credit. Third, we find that today’s domestic credit is depended on domestic credit in the previous year.DOI: 10.15408/aiq9i2.4906
Zakah for Asnaf Al-Gharimun in Brunei Darussalam: Concepts and Practices Abdullah, Rose; Haqqi, Abdurrahman Raden Aji
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.5092

Abstract

This research paper discusses the concepts of debt in Islam in relation to the category of al-gharimun that entitle for receive zakah. The data from the authority department has shown an alarming increase in number of applicant for zakah under the category of asnaf Al-Gharimun. Why was the number increased and who are actually eligible to receive zakah under the category of Al-Gharimun? This paper tries to answer these questions. The concept of debt in al-Qur’an will be discussed and various discussions by Islamic scholars and researchers will be analysed. Data gathered from several officers of Islamic Religious Council of Brunei Darussalam through personal interviews. The phenomenon was due to misunderstanding and ignorant among the public with regards to what kind of debts that are eligible under the category of Al-Gharimun to receive zakahDOI: 10.15408/aiq.v9i2.5092
Comparing Efficiency and Productivity in Islamic Banking : Case Study Indonesia, Malaysia and Pakistan Rodoni, Ahmad; Salim, M. Arskal; Amalia, Euis; Rakhmadi, Rezki Syahri
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.5153

Abstract

The objective of this research is to analyze both efficiency and productivity of  Islamic Banking Industry in Indonesia, Malaysia and Pakistan. The technique that used in this research is Data Envelopment Analysis (DEA) as for measuring efficiency and thus Malmquist Index (MI) as for measuring productivity. The result of this research found that Islamic Banking Industry in Indonesia is facing inefficiency that shown by five years average that is not reach 100% efficiency rate. Malaysia also experiences the problem of inefficiency but the condition is better compared to Indonesia. In five years, the efficiency rate of Malaysia Islamic Bank has not reach 100% efficiency rate. Pakistan among the closest country that could reach an efficient rate level for their Islamic banks. Pakistan close to reach 100% efficient rate within the last five years. DOI: 10.15408/aiq.v9i2.5153
Determining Factors of Deposit Level of Islamic Bank in Indonesia Baehaqie, Sofyan; Fahmi, Idqan; Beik, Irfan Syauqi
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.5156

Abstract

One Way to maintain the stability of banking industry is by applying the deposit insurance scheme. The application of the deposit insurance scheme has an impact by increasing the level of bank deposits. The objectives of the research are to identify the factors affecting the level of deposits of Islamic banks in Indonesia and managerial implications regarding to the functions of Indonesia Deposit Insurance Corporation (LPS). The technique used is the panel data regression with fixed effect model using the data from the 11 Islamic banks for the period of 2011 -2015. The results show that the factors affecting the level of deposits of the Islamic banks in Indonesia significantly and positively include the size of banks and their non-performing financing (NPF); however, they influence the capital negatively. Based on these results, LPS is required to build or sharpen the surveillance systems as part of its early detection by doing the mapping based on the size and to monitor the bank capital structure and bank finance portfolio structure.DOI: 10.15408/aiq.v9i2.5156
Fatwa and The Development of Islamic Financial Industry: A Lesson From Indonesia Amin, Ma'ruf
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol. 9 No. 2 (2017)
Publisher : UNIVERSITAS ISLAM NEGERI SYARIF HIDAYATULLAH JAKARTA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/aiq.v9i2.5353

Abstract

This article is a critical study to analyze the impact of the Fatwa issued by Ulema of the Indonesian Ulema Council (MUI) against the Development of Sharia Financial Industry in Indonesia. The development of Sharia financial industry in Indonesia has been started since the early 1990s. But the most improved level of development was since 2003, when MUI issued a fatwa on the illegitimate Bank’s Interest. It was a necessity for the Ulema to perform ijtihad or istinbat laws in order to give a fatwa on his people. Ulema as the agents of social change oriented to make continuous improvements (islahiyyah) in the social -economic order, especially in the financial industry. Considering that the circulation of money in the community is a reflection of society, if the financial flows controlled by virtuous people then so the community. Conversely if the flows of finance are controlled by people who are not good, then the community became devastated.DOI: 10.15408/aiq.v9i2.5353

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