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Global Review of Islamic Economics and Business

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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 168 Documents

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Export-Led Growth Hypothesis: Comparison Between Islamic and Non-Islamic Countries in ASEAN Ahmad Syarif
Global Review of Islamic Economics and Business Vol 3, No 1 (2015)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

This study aims to prove and analyze the effect of export growth on economic growth in the ASEAN countries. Using annual data from 2004 to 2014, the empirical result shows that export growth is significant and gives positive impact on the economic growth in ASEAN. However, investment and labor-force are less to affect the economic growth in ASEAN. This study also provides strong evidence that supports the hypothesis of export-led growth as described by Nurkse (Moon, 1997). Export-led growth is an economic strategy that is also used by Islamic countries in ASEAN. Export-led growth has two important reasons, it can generate profits and allow countries to balance their finances and the export growth can lead to greater productivity. This is consistent with the macro theory assumes that exports are injection to the economy (McCombie et al, 1994).

The Implementation of Good Governance in the Era of Caliphate Omar Ibn Abd al-Aziz (61H-101 H/717-720 M) Luqman Hakim Handoko; Saim Kayadibi
Global Review of Islamic Economics and Business Vol 1, No 2 (2013)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

The discussions of good governance are being widely debatable all over the world. The world has arrived at an agreement that good governance has major influence for human resource development in the society. The debate is currently, going on all sectors of activities such the social, economic, and political imperatives, cultural sources and traditions. These have contribution to supervise and govern societies, how to manage business enterprises. The purposeof this paper is to investigate and to understand the theory of good governance from both a modern and Islamic perspective. Firstly, this paper is aimed to find out what is the good governance in modern term. Secondly, this paper will try to explore and explain the siyasah shar?iyyah means concerning to good governance on modern societies. Thirdly, explaining and exploring the concept of good governance in the reign of caliph Omar ibn Abd al-Aziz. Italready known that within short time he was able to bring the khilafah to glorious administration. This paper find that it is believed that the concept of good governance already practised by Caliph Omar ibn Aziz throughout his reign. In addition, there are many successes have been achieved by Omar either in the field of economy, politics and national defense and religious fields where the field may be difficult to achieve today's leaders.

Does Finance Access Matters for Children? An Evidence Form Indonesia Family Life Survey 5 and 4 Riswanti Budi Sekaringsih
Global Review of Islamic Economics and Business Vol 5, No 1 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

As explained in the declaration of Sustainable Development Goals (SDG) in January 2016, two of the achievements are good health and wellbeing and quality education. Households as one of the drivers of the economy, household should be able to improve this achievement. Because There are two kinds of household’s outcome such as; child health and child education. One of the factors that influence this outcome is household financial access. A household who had better access on finance was more sustain than the other. This study aims to examine the impact of household financial acces on child education and child health. Source of data that used is Indonesia Family Life Survey (IFLS/SAKERTI) year 2014 and 2007. The recognition that finance access is an input in a household's production function has major implications for development. It suggests that the acquisition of human capital and the establishment of a physical infrastructure needs to be complemented by human investment the estimation is done in three ways; pooled OLS, fixed effect and random effect. The result shows that finance access matters for child health, specially the availability of BRI and BMT in village. And for child education, finance access specially the availability of BRI and BMT in village have positive impact for child education.

Financial System Stability in Indonesia during The Global Financial Crisis 2007/2008: Conventional vis-à-vis Islamic Muh. Rudi Nugroho; Ibnu Qizam
Global Review of Islamic Economics and Business Vol 2, No 2 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

This research aims to analyze the financial stability especially in dual banking system in Indonesia and discusses the role of Islamic banks in the financial stability of national banks. In addition, this study also focuses on the analysis of the determinants of financial stability namely on the national banking Industry. This research uses panel data in which combined data between time series and cross section with an observation periods are 2005:1 - 2009:1 by using an internal variable of banks and macroeconomic data. Z-score analysis will be used as main tool analysis regressed with internal variable. Empirical results obtained from this research shows that during the period of 2005:1 - 2009:1 banking financial stability, for both conventional and Islamic and categorized based on an asset scale, the movement of the Z-score value is different. From the Z-score values analysis shows that Islamic banks are the most stable bank with a trend increased sharply when compared with other banks, namely conventional couterparts. If viewed from each category, small conventional banks more stable than small Islamic banks, and there are declining trend in 2005:1 to 2009:1. Whereas for large and middle conventional banks the trend of the Z-score movement are in the same patterns. This study also founds that the determinant of the banking stability can be seen from two sides namely bank's internal factors and macroeconomic factors. Internal factors consist of: Income Diversity (ID), Credit or Financing (Loan), Total Assets (TA), Operational Cost (Cost), Cost Income (CI), Loan Asset (LA), Current Liability (CL), Cash to Current Liabilities (CCL), Capital Bank (MDL). While macroeconomic factors consist of: inflation, BI Rate, Exchange Rate, Composite Index (JCI), the Gross Domestic Product (GDP). This research also examined the extent to which the role of Islamic banks and the global financial crisis to the financial stability of national banking. This analysis shows that the global financial crisis and Islamic banks affect significantly to the financial stability of banking industries in Indonesia.

Did Global Financial Crisis Impact the Islamic Banking Efficiencies? Evidence from Malaysian Islamic Banks Abdus Samad
Global Review of Islamic Economics and Business Vol 6, No 2 (2018)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

First, this paper investigated the loan and deposit efficiencies of Malaysian Islamic banks during 2008-2013 applying the non-parametric technique, Data Envelopment Analysis (DEA), and found that the average technical efficiency (TE) of loan financing was 83%, 88%, 87%, 95%, 100%, and 94% and the average technical efficiency for deposit mobilizations was 87%, 94%, 94%, 96%, 92%, and 96%. Only four banks in 2008, two bank in 2009, three banks in 2010, two banks in 2011-2013 are both technically and scale efficient in loan production. On the other hand, only four banks in 2008 and 2009, five banks in 2010 and 2011, three banks in 2012, and five banks in 2013 are both technical and scale efficient in deposit mobilizations. Second, the paper compares the efficiencies of Islamic banks between the global financial crisis (GFC) and the post global financial crisis (PGFC) in determining whether the efficiencies of banks between the GFCP and PGFCP are stable. Both parametric and non-parametric tests found no significant difference in the efficiencies between the two periods suggesting that the efficiencies of the Malaysian Islamic banks were stable.

The Measurement of Islamic Bank Performance: A Study Using Maqasid Index and Profitability Aam Rusydiana; Salman Al Parisi
Global Review of Islamic Economics and Business Vol 4, No 1 (2016)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

This study aims to 1) measure Syariah Maqasid Index (SMI) and Profitability Index (PI) of Islamic Banks, and 2) compare the Syariah Maqasid and Profitability Index of Islamic Banks during 2011-2014 with cartesian diagram. This research consists of 2 methods: syariah maqasid index weighting (sekaran method), and Comparative Performance Index (CPI). The object of research consist of 11 Islamic Banks (BUS) in Indonesia with annual data 2011 to 2014. Result: Syariah Maqasid Index of BUS during 2011-2014 from the highest to the lowest, namely Panin Syariah (0254), BCAS (0212), BMI (0208), BRIS (0207), BSM (0202), BSB (0.2008), BJBS ( 0.2006), Victoria Syariah (0199), Maybank Syariah (0197), BNIS (0195), Mega Syariah Bank (0172). Then Profitability Index of BUS in 2011-2014 from the highest to the lowest, namely Maybank Syariah (628.5), Bank Mega Syariah (472.1), BSM (459.9), Panin Syariah (395.5), Victoria Sharia (355.4), BNIS (252.6), BMI (218.2), BCAS (155.4), BSB (150.9), BRIS (135.3), and BJBS (122.3). Conclusion: The highest of Syariah Maqasid Index is Panin Syariah Bank in period 2011-2014, while the highest of Profitability Index is Maybank Syariah in period 2011-2014.

Opportunity and Challenges to Integrate Zakat Into Indonesian Fiscal System in The Light of Siyasah Shariyyah Nashr Akbar; Saim Kayadibi
Global Review of Islamic Economics and Business Vol 1, No 1 (2013)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Nowadays, the idea of integrating zakat into fiscal system has arisen in Muslim countries including Indonesia. It is argued that zakat, in history, has played a significant role to create welfare among societies. It is proven at the time of Caliph 'Umar ibn 'Abdul 'Aziz that zakat has alleviated poverty at that time alongside tax. Having considered such achievement, some scholars argued that zakat should be reintegrated into current fiscal system. This paper, therefore, attempts to study the feasibility of integrating zakat into Indonesian fiscal system. Employing descriptive analysis based on Siyasah Shariyyah (high objectives of the Shariah). Therefore, the objectives of the study are set with these following points: 1) to address the strength and the weakness of the implementation of this idea, 2) to assess its opportunity as well as its threat, 3) to examine whether the integration of zakat will secure maslahah (benefit) or create mafsadah (harm). The result shows that the integration of zakat into current fiscal system is in line with the Siyasah Shariyyah. Hence, the strong willingness and commitment of government is strongly required to applicate it. The proper model of integration should also be planned well. Moreover, nurturing the understanding to all parties, especially to the nonMuslims and secularists, that this idea is really beneficial and not discriminatory should be promoted.

Comparison of Income Statement Approach and Shari'ate Value Added Statement Approach in Assessing the Financial Performance of Islamic Banks in Indonesia agus faisal
Global Review of Islamic Economics and Business Vol 4, No 2 (2016)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

The purpose of this study is to comparison in financia performance of Islamic banks in Indonesia by using the Income Statement (IS) approach and Shari'ate Value Added Statement (SVAS) approach. The type of research is quantitative, sample using a purposive sampling technique with the criteria of Islamic banks in Indonesia the which presents a financial annual report the period 2008-2012. Financial ratios used consisted of Return On Asset (ROA), Return on Equity (ROE), the ratio between the total net income by total productive assets (LBAP), Net profite Margin (NPM), and Operating Expense to Operation Income (OEOI), Analysis tool used to prove the hypothesis of this study is an independent sample t-test and Mann Whitney U. The result Showed that the average financial ratios (ROA, ROE, LBAP, NPM and OEOI) there are differences singnificant between the model of IS and SVAS. Differences in the ratio of financial performance is due to the differences in the design of the presentation and disclosures relating to profit and added value. Income Statement "IS" looked at income as profit, whereas the Shari'ate Value Added Statement "SVAS" looked at income as an added value.

Business Cycle and The Macroeconomics Performance: Evidence of Malaysia and Indonesia Abdul Qoyum; M. Miftahussurur; Al-Amin Matae; Muhammad Yousuf; A. Abdurrahman
Global Review of Islamic Economics and Business Vol 2, No 1 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Stable economic growth is the major macroeconomic goal which is all nations seek. Economist and policy makers have been tried to find the ways to sustain and maintain stable economic growth. This paper examines the macroeconomic fluctuations and economic growth in Malaysia and Indonesia and its determinant by using multiple regression models. Five variables were chosen for the model namely variables are Money supply (MS), Industrial production (IP), Interest rate (IR), exchange rate (ER), Consumer price Index (CPI) and stock prices. The study shows that Money supply (MS), Interest rate (IR), exchange rate (ER), and stock prices are among others, the determinant factors of macroeconomic fluctuations in both countries. Specifically, the empirical results reveal that Interest rate (IR), exchange rate (ER), and stock prices has significant contribution to the performance of real GDP in Malaysia while Money supply (MS) and exchange rate (ER) are the main cause of macroeconomic fluctuations in Indonesia. This may be due to the different monetary policies pursued by the two countries. The two countries might have different monetary policy strategies; Malaysia pursues interest rate targeting policy, whereas Indonesia applies inflation rate targeting policy.The study recommends for both countries government policies play an important role in economic performance. Therefore, a careful policy should be the foremost important factor for economic in these nations and the every country in general.

The Determinants of Waqf Preference Toward Money-Cash Waqf Jauhar Faradis
Global Review of Islamic Economics and Business Vol 2, No 3 (2015)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

This research is based on the lackness of societie’s understanding toward cash Waqf and its big chance. The purpose of this research is to understand the factors causing Waqf preference toward the product of money-cash Waqf. The method of this research is factors analysis, and is applied in the Province of Yogyakarta include: Yogyakarta City, Sleman, Kulonprogo, Bantul and Gunung Kidul Regency. The results of this research are the determinants of muslim sociatie’s preference toward Money-Cash Waqf are: wakif’s attitude factor, complain factor, productive action factor, equity factor, product characteristic factor, and religiosity factor as well as generosity factor.

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Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Aris Munandar

Contact Email Aris Munandar

Phone +6282145485255

Journal Mail Official -

Editorial Address Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281

Location Kab. sleman, Daerah istimewa yogyakarta INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Aris Munandar

Contact Email
Aris Munandar

Phone
+6282145485255

Journal Mail Official
-

Editorial Address
Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281

Location
Kab. sleman,

Daerah istimewa yogyakarta

INDONESIA