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Global Review of Islamic Economics and Business
Published by Universitas Islam Negeri Sunan Kalijaga Yogyakarta
ISSN : 23387920     EISSN : 23382619     DOI : -
Core Subject : Economy,
Economics, Econometrics & Finance
The scope or coverage of this International journal will include but are not limited to: Islamic Economics, Islamic Business, Islamic banking, Islamic capital markets, Islamic wealth management, Issues on shariah implementation/practices of Islamic banking, Zakat and awqaf, Takaful, Islamic Corporate Finance, Shariah-compliant risk management, Islamic derivatives, Issues of Shari`ah Supervisory Boards, Islamic business ethics, Islamic Accounting, Islamic Auditing.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 9 Documents
 1 
Search results for , issue "Vol 9, No 1 (2021)" : 9 Documents clear
The Determinants of Indonesian Islamic Rural Banks' Non-Performing Financing Agus Widarjono; Ari Rudatin
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-03

Abstract

Islamic bank encounters a high financing risk because of scheme contract using the profit-loss sharing system leading to an agency problem. The non-performing financing of Islamic rural banks as small Islamic banks in Indonesia is above the maximum threshold and is higher than that of conventional rural banks as their competitors. This paper investigates the impact of bank characteristic variables and macroeconomic variables on the non-performing financing of Islamic rural banks. Our study employs aggregate Islamic rural banks data, spanning from January 2009 to December 2018. Non-linear autoregressive distributed lag model (NARDL) is applied to address this issue. Capital adequacy ratio obviously increases impaired financing and income diversification clearly reduces non-performing financing. More interestingly, domestic output and inflation have an asymmetric effect on non-performing financing. Economic downturns increase non-performing financing but economic upturns have no impact on non-performing financing. Meanwhile, inflation deteriorates non-performing financing but deflation does not reduce non-performing financing.
Quantitative Sharia-Screening Effect on Portfolio Performance and Volatility: Evidence from Indonesia Syamsul Arifin; Ibnu Qizam
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-04

Abstract

The aim of this study is to examine the comparative performance and volatility between Sharia and conventional portfolios listed on the Indonesia Stock Exchange (IDX) and to investigate the effect of quantitative (debt-ratio) screening on the Sharia-and-conventional-portfolios returns specifically applied in the selected public firms with the inter-industrial low-correlations. Applying a non-parametric test, the autoregressive integrated moving average (ARIMA) model, and the regression analysis, the results suggest that there is no difference in performance between Sharia and conventional portfolios; Sharia portfolios show the lower risks than conventional portfolios. Using quantitative Sharia-screening, the debt-to-equity ratio (DER) affects Sharia-portfolio returns, but not conventional-portfolio returns. This study contributes to providing country-specific evidence on applying quantitative Sharia-screening. Taking notice of the existing high-profile debt-ratio and applying the relatively loose standard of quantitative Sharia-screening for the public firms in Indonesia, this suggests that a country-specific quantitative Sharia-screening standard should be supported.
Islamic Fintech: A Solution for Financial Problem Dwi Marlina Wijayanti; Fachmi Pachlevi Yandra
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-05

Abstract

This research aims to examine the role of Islamic fintech in solving users’ financial problem. Furthermore, technology acceptance model (TAM) construct is used to explain individual acceptance on Islamic fintech. This research use self-administered survey including 185 Islamic fintech users spread all over Indonesia. This research provides empirical insights about user satisfaction on Islamic fintech product. It show that almost predictors have significant positive effect on user satisfaction. The TAM’s construct can predict and assess user perceptions on the use of new technologies or products. Furthermore, Islamic fintech makes it easy for users to solve their financial problems. This research proves that Islamic fintech product can be an option in solving financial problem without worrying about halal status.
The Effectiveness of Banking Countercyclical Policies in the Development of Priority Economic Sectors in Indonesia Muh Rudi Nugroho; Akhmad Syakir Kurnia
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-01

Abstract

Economic development leads to the evolution and improvement of the financial system. In particular, banks grew relatively larger than national output in line with economic developments. This study aims to analyze how banking policy can cause multiplier effects for the macroeconomic sector and be able to reduce the procyclicality of the banking sector with economic growth that touches the aspect of reverse causality. To answer this concern, many international forums approved the formation of documents one of which includes macroprudential aspects by developing countercyclical capital buffer (CCB) indicators that function to monitor the level of procyclicality of the financial system. The research period used is quarterly data from 2010Q1 to 2019Q4. The analytical tool used is structural vector autoregression (SVAR). Based on the results of the impulse response function, all macroeconomic variables used in this study, namely real GDP, inflation, investment, and the exchange rate respond negatively to CCB policies in conventional banks, Islamic banks, and both. The biggest contribution of the three bank models is to the investment variable. Based on the results of sector mapping, it was found that the direction of the development of Indonesia's priority sectors was in the secondary sector or business fields related to the processing industry, such as both food and beverage, clothing and textiles, and chemicals. Public and foreign public confidence in the products of the processing industry in Indonesia is certainly inseparable from the guarantee of certainty in doing business and investment security that will increase the flow of private capital, especially foreign direct investment. This investment security guarantee is an effect of good financial capital liquidity.
Covid-19, Financial Markets (Islamic vs Non-Islamic), and Exchange Rate: Does the Malaysian Market Offers Diversification Opportunities to the Investors? Hassanudin Mohd Thas Thaker; K. Chandra Sakaran
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-02

Abstract

We explore the impact of Covid-19 towards Islamic and non-Islamic financial markets in Malaysia. We employ the wavelet coherency approach (WCA) which allows a deeper investigation of the relationship between the selected variables in terms time-frequency domain. We document that (i) Islamic capital markets represented by FTSEBMEI and MyETFDJIMMT25 are performing better during the Covid-19 period and also offer a greater investment opportunity to the investors for diversification purposes, (ii) non-Islamic index, FTSEBMKLCI, was less affected during this pandemic, and the market offers better risk and optimal diversification benefits to the investors as time progresses, and (iii) exchange rate appears to be more stable and within the phase category, indicating the co-movements are relatively strong in smaller scales. Understanding the impact of Covid-19 on the financial markets will lend to a better portfolio investment design which considers return and risk.
Measuring Maslahah on Collateral Implementation in Mudaraba Contract at Sharia Banking Dini Maulana Lestari; Abdul Qoyum
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-06

Abstract

This research aims to measure maslahah level on collateral implementation in mudaraba financing contract at sharia banking. This is important, because although the existence of collateral in the contract is able to create such maslahah, but there is no specific level regarding to it. Then, this research also tries to examine the relationship between collateral to maslahah itself in order to know the effect which give by those variables. This is an explanatory research uses a quantitative approach with survey method. This research also uses descriptive statistic and path analysis method by IBM SPSS Statistic 22 in order to reach the purpose of this research. This research picked sharia banking practitioners and customers specifically in Cirebon as the population, reaching 116 respondent which used as the sample of research. The result of this research reported that the implementation of collateral in mudaraba financing contract is truly provide maslahah level both for sharia banking practitioners and customers. This result was also strengthened by the direct effect between each variable which revealed a positive significant effect.
Potential of Islamic Insurance Market: Islamic Banking and Sukuk Sectors Case Study in Indonesia Jaenal Effendi
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-07

Abstract

This paper predicts the potential of the Indonesian Islamic insurance market, approached by calculating the premium contribution from the Islamic banking and sukuk sectors. This paper aims to determine and analyze the potential development of Islamic insurance market in Indonesia, seen from total contributions from Islamic banking and sukuk sectors over the next five years. The paper uses the Box-Jenkins ARIMA method which is one of the quantitative forecasting methods. The results of this study indicate that over the next five years, the total contribution of Islamic insurance will experience positive growth and it is predicted that it will have a total contribution of IDR 11,568.40 billion in 2023 from Islamic banking and sukuk sectors with the biggest contributor from the Islamic banking sector. The ARIMA forecasting results show a positive trend in the premium contribution of the Islamic banking and sukuk sectors from year to year. Even so, the growth will experience a slowdown. The prediction of a slowdown in the two sectors in its contribution to the Islamic insurance market in Indonesia is a sign that there might be a decline in the total financing growth by Islamic banking. Likewise with the sukuk sector, both state and corporate sukuk are predicted to experience a slowdown in the growth of Islamic insurance premiums.
Assessing the Online Purchasing Behavior during the Covid-19 Pandemic: A Case Study in the Kingdom of Bahrain Mohamed Khalifa Al-Khalifa; Muhammad Rizky Prima Sakti; Abdullah Alhadrami
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-08

Abstract

The Covid-19 pandemic has disrupted consumer habits of buying and shopping. It is anticipated that online purchasing transactions are increased during the pandemic, since the consumers are urged to stay home and practice new normal behavior. This study examines the online purchasing transactions in the Kingdom of Bahrain during the pandemic. Particularly, the study investigates the impacts of product price, product availability, social media, product details, and easiness toward online purchasing decision during Covid-19 pandemic. Using hand-collected data from 200 respondents, the study discovers that all variables have significant impacts toward online purchasing behavior in the Kingdom of Bahrain during the pandemic age.
Exploring the Brand Effect of Islamic Bank on the General Population of Scotland Jacob Jackson; Fawad Khaleel
Global Review of Islamic Economics and Business Vol 9, No 1 (2021)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2021.091-09

Abstract

The United Kingdom (UK) currently has one of the most attractive regulatory and tax systems in the world for Islamic finance, as well as being far ahead of other western nations for provision of Islamic finance, with five sharia-compliant banks. Yet despite this, the patronage of these banks is extremely low, often times below that of smaller building societies. While the largest Islamic bank in the UK, Al Rayan (formerly Islamic Bank of Britain), have one third of its customer base have religious affiliations other than Islam, and a further 80% of all fixed-term deposits also patroned by non-Muslims. This study explores why general consumers do not pursue patronage with Islamic banking.This is an inductive research enquiry that uses descriptive statistics within a social constructivist paradigm to construct a line of reasoning, based on the primary data is collected through detailed questionnaire (n=29).The findings from this research highlight the need for Islamic banks to better fund information programmes, advertisements and promotions to further spread awareness of their offerings as consumers are positive in their reception to Islamic finance concepts but unaware of its offerings.

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