Aam S L A M E T Rusydiana | Sakarya University (original) (raw)
Papers by Aam S L A M E T Rusydiana
Tamkin Journal
The Islamic financial industry in Indonesia is currently a global concern, one of which is bank f... more The Islamic financial industry in Indonesia is currently a global concern, one of which is bank financial institutions, so measuring productivity is essential for Islamic rural banks (BPRS) in Indonesia. This study tries to analyze the BCC model as a basic model to see the level of productivity in a BPRS using the Malmquist productivity index, both in terms of changes in efficiency and changes in technology. The results obtained from the Malmquist index score or total productivity change (TFPCH) show that, in general, BPRS has experienced a decline in productivity but has increased in the last two years. However, there are six BPRS out of 16 BPRS that get an average score of more than one and show an increase in productivity. The BPRS with the highest productivity level score is PT BPD East Kalimantan and North Kalimantan, and the BPRS with the lowest productivity level score is PT BPD Central Java (UUS). However, East Java still has not reached the optimal level of productivity, wi...
International Journal of Waqf
The practice of waqf is usually focused on a building or piece of land. Many donors end up not be... more The practice of waqf is usually focused on a building or piece of land. Many donors end up not being able to afford the assets to participate in the Waqf. Cash waqf allows people of all backgrounds to engage in long-term charitable work. This study aims to analyze the sentiment generated from the social media ‘Twitter’ application regarding cash waqf. The technique employed is sentiment analysis of secondary data consisting of 330 tweets. The results showed that positive sentiment was the highest result with a percentage of 53%, followed by neutral sentiment at 32.1%, and negative sentiment at 14.8%. The good (positive) sentiment is the opinion of Twitter users who tweet about cash waqf topics by being positive and tend to be optimistic in responding to the existence of cash waqf and supporting the development of cash waqf. While the negative sentiment is the opinion of Twitter users who tend to express criticism in reviewing developments related to cash waqf. According to the findi...
Journal of Islamic Economic Literatures
This bibliometric study investigated the current state of documents on Islamic financial technolo... more This bibliometric study investigated the current state of documents on Islamic financial technology published by digital object identifier equipped journals listed in Dimension. The analysis focused on the description of characterictics and trends of the keywords, authors and journals. The data analyzed were 229 publications of research publications in Dimension (https://dimension.ai). The searches used to establish the study dataset were last updated on 30 January 2021. Descriptive statistical methods were used, and a bibliometric analysis was conducted using the R Biblioshiny to find out the bibliometric map. The number of articles discussing the theme of Islamic fintech has been quite large in recent years. There are many journals that publish this theme, among which the most impactful is the SSRN Electronic Journal which has many authors who research regarding this theme with various keywords. The most popular keywords used are ‘Islamic, Fintech, Financial’. This study provides ...
Ekonomi Islam Indonesia
The purpose of this study is to analyze the comparison of the level of efficiency between time an... more The purpose of this study is to analyze the comparison of the level of efficiency between time and the productivity of state commercial banks in Indonesia. State commercial banks in this case are grouped into 4 major groups including BUS, BUK, BPD, UUS. Measurement of the value of efficiency in this study uses the method of Data Envelopment Analysis (DEA). The use of the DEA method can measure the efficiency of banking by using many inputs and outputs. The continued application of the use of DEA is to use DEA Window Analysis, the result is the BUS has the best efficiency stability value with an average of 0.03 LDY then BUK with an average of 0.04, BPD with an average of 0.05 and UUS with an average an average of 0.09. Also this study wants to see the extent of the productivity of the country's commercial banks, the results using the Malmquist Index obtained BUS with the highest level of productivity with an average value of 1.008 then BPD with a value of 1.004, continued BUK 0.9...
Ekonomi Islam Indonesia
This study aims to determine the development map of waqf research that is indexed by Scopus. The ... more This study aims to determine the development map of waqf research that is indexed by Scopus. The research was conducted in November 2019 by searching through the Scopus database with the keyword "waqf". The data analyzed were 104 publications of Scopus indexed waqf research publications. The development map of waqf research is obtained through the export process into the .txt file format. The export data is then processed and analyzed using the VOSviewer application program to find out the bibliometric map of the development of waqf research that is indexed by Scopus. The results showed that the number of publications on the development of waqf research indexed Scopus from 2010-2019 experienced a significant increase and the most were published in ISRA International Journal of Islamic Finance. Network visualization showed that the map of the development of waqf research was divided into 5 clusters. Cluster 1 consists of 10 topics, cluster 2 consists of 10 topics, cluster 3...
Journal of Islamic Philanthropy and Disaster (JOIPAD)
ICR Journal
A green economy is expected to solve the failure of the conventional economy to address climate c... more A green economy is expected to solve the failure of the conventional economy to address climate change. It would do this by emphasising the balance between economic and environmental factors – an approach that is in line with the existing concept of Islamic finance. As a new field, research related to the green economy is still developing. This study attempts to provide quantitative information on this development. In total, Scopus lists 1183 papers, including journal articles, book chapters, and conference papers, on this subject, all produced between 1961 and 2021. This study employed the Biblioshiny package from R-studio and Excel software to synthesise and analyse this data. In addition, we identified relevancies between the green economy and Islamic finance using existing research. Regarding the results obtained, the natural fit between Islamic finance and a green economy would naturally support the implementation of the latter. Furthermore, the results show that sukuk, in part...
International Journal of Islamic Economics and Finance (IJIEF), 2021
This study aims to determine the development map of mathematic model in islamic economics and fin... more This study aims to determine the development map of mathematic model in islamic economics and finance research that is indexed by Scopus and other reputable journal with the keyword "Mathematic model in islamic economics and finance". The data analyzed were 100 selected publications. The development map of mathematic model in islamic economics and finance research analyzed using the VOSviewer application program to find out the bibliometric map. The results showed that the number of publications on the development of mathematic model in islamic economics and finance research indexed Scopus from 1983-2019 experienced a significant increase and the most were published in Journal of King Abdulaziz University: Islamic Economics. Network visualization showed that the map of the development of mathematic model in islamic economics and finance research was divided into 3 clusters. The majority of research is related to modeling of Profit Loss Sharing (PLS) schemes. However, despi...
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business), 2020
This study aims to determine the opinions and recommendations from the experts regarding the prob... more This study aims to determine the opinions and recommendations from the experts regarding the problem of the audit system in zakat institutions in Indonesia to determine the priority of the most important variables to be fixed. This research was conducted in August 2020 using primary data obtained from interviews with experts consisting of academics, practitioners and regulators with a background in sharia economics. The data were analyzed by the Delphi method to find the main priority and agreed upon convergence by experts. The results showed that of the 15 variables of audit problems at zakat institutions in Indonesia, there are 13 variables with convergent-convergent consensus based on expert opinion and only 2 variables with divergent consensus. The 3 main priority problems of auditing in zakat institutions in Indonesia are (1) an Insufficient number of sharia auditors, (2) The absence of strong rules related to sharia auditing, (3) HR competence. This research can be used by rea...
International Journal of Zakat, 2020
This study aims to determine the development and trend map of the Zakat and Technology outbreak r... more This study aims to determine the development and trend map of the Zakat and Technology outbreak research that is published by reputable journals in the theme of Islamic economics and finance. The data analyzed covering more than 440 publications of indexed research publications. The export data is then processed and analyzed using the R Biblioshiny application program to find out the bibliometric map of the development of the role of Islamic economics and finance in zakat and technology research. The results showed that the number of publications on the development of the role of Islamic economics and finance research experienced a significant increase. The results show that the highest number of document types are journaled articles. The most popular authors are Kuran T, and the most popular keyword topics are zakat, Islam, and Indonesia.
International Conference of Zakat, 2019
Zakah institution is the intermediary organizations based on social. Although based on social act... more Zakah institution is the intermediary organizations based on social. Although based on social activities, but the management is still needs to uphold professional, accountability and transparency principles. This study attempts to analyze the productivity level of zakat organization in Indonesia, both in terms of changes of its efficiency and also its technological. There are two things that are calculated in Malmquist index measurement that is catch-up effect and frontier shift effect. The catch-up effect measures the rate of change in relative efficiency from period 1 to period 2. Meanwhile the frontier shift effect measures the rate of technological change that is a combination of input and output from period 1 to period 2. The frontier shift effect is often called an innovation effect. Findings from the results of the productivity index analysis are very interesting. In general, there has been an increase in the level of productivity of zakat institutions in Indonesia in the per...
Shirkah: Journal of Economics and Business, 2018
The Development of Islamic Banking Industry in Indonesia relatively shows a good tendency. In the... more The Development of Islamic Banking Industry in Indonesia relatively shows a good tendency. In the market, inefficiency would be the great obstacles in head to head to conventional bank. Despite of efficiency performance in Islamic Bank, Islamic Bank also must have sharia compliance performance. So it needed to identified the efficiency of Islamic Bank in Indonesia and the achievement of Maslahah in term of three aspects, there are education, the creating of justice, and the attainment of welfare. This study would try to measure the efficiency of Islamic Banking Industry with Data Envelopment Analysis (DEA) method and also to evaluate the performance by using Maqasid Sharia Index (MSI). Banxia Frontier Analyst 3.1 used in the data calculation. The calculation of the level of Islamic Bank efficiency in this study are relative, not absolute. Result of this study indicate four main findings, first, Islamic bank involve in quadran 1 is Islamic bank who reached the highest efficiency and ...
Shirkah: Journal of Economics and Business, 2019
This article emphasizes to analyze the effect of macroeconomic variables on sharia capital market... more This article emphasizes to analyze the effect of macroeconomic variables on sharia capital market in Indonesia by using Vector Error Correlation Model (VECM) approach method. The variables used are world oil price, Industry Production Index (IPI) Currency Exchange Rate to Dollar and Consumer Price Index (CPI) in Indonesia. The research show that in the Indonesian Stock Sharia Index (ISSI) model, the VECM in the ISSI model can explain in the short term the IPI variable, world oil price, rupiah to dollar, DJIA and CPI does not affect to ISSI variable. While in the long term, world oil prices are positive climate and Dow Jones Industrial Average (DJIA) variables negatively affect ISSI. In addition, FEVD test the world oil price has more dominant contribution than other variable 6.02%. Keywords: sharia capital market, macroeconomics, VECM, ISSI
Journal of Islamic Monetary Economics and Finance, 2018
Despite of market condition under perfect or unperfect competition, Islamic banking has to reach ... more Despite of market condition under perfect or unperfect competition, Islamic banking has to reach their level of efficiency in order to succeed and make a profit; those who do not will fail and be forced to exit the market. However apart of having a sound performance, Islamic banking also has to comply with the sharia principles. This paper aims to have efficiency and maslahah measurement in one assessment framework that is maslahah-efficiency quadrant (MEQ). The study from 2011-2014 revealed that Bank Muamalat Indonesia (BMI) and Sharia Panin Bank are excellent since both are within the first quadrant. Whereas Bank Sharia Mandiri (BSM), Sharia Maybank, and Sharia Bukopin Bank are considered good at the second quadrant; Bank Rakyak Indonesia Sharia (BRI) and BCA Sharia are fair at the third; and Bank Mega Sharia, Victoria Sharia, Bank Negara Indonesia Sharia (BNI), and Bank Jabar Banten Sharia (BJB) are poor at the fourth sequentially. It is urge for Islamic bank that are in low leve...
journal of king Abdulaziz University Islamic Economics, 2018
This research aims at detecting early indicators that cause conventional banking and Islamic bank... more This research aims at detecting early indicators that cause conventional banking and Islamic banking crises, identifying the longest crisis period for both types of banks, and comparing the stability between the two kinds of banks. The method used is the Markov Switching Vector Autoregressive (MS-VAR) approach. This study uses secondary data obtained from official sources and in monthly form from January 2004 to March 2017. The results show that Islamic banking is more stable against internal and external shocks than conventional banking. Z-score for Islamic banking is higher (11,933) than the Z-score for conventional banking (11,679). The longest crisis period for conventional banking was around April 2013 – March 2017 while for Islamic banking was around January 2008 – October 2008.
Global Review of Islamic Economics and Business, 2018
The Cooperative (Koperasi) as a non-Bank financial institution has the purpose of improving the w... more The Cooperative (Koperasi) as a non-Bank financial institution has the purpose of improving the welfare of its members as Koperasi Hidmat and the staffs of Latifah Mubarokiyah Koperasi Ponses Suryalaya that have been since decades ago. Over time, the ideal cooperative can show a significant development and increase the welfare of its members. This study aims to determine the efficiency of cooperative as a benchmark, because by known the performance value of a cooperation, it will known the weeknesses and advantages so that it can be improved the weaknesses and maintain the advantages.The method used is apply Data Envelopment Analysis (DEA). Inputs used from principal savings, mandatory savings, and fixed assets while the output used from savings in the cooperative, savings in other cooperative and SHU. As for result of this research indicates there are 9 perfect efficient DMUs (100 %) and inefficient DMU is 11 DMUs, consisting of 7 (IRS conditions) and 4 (DRS condition). The mos...
Global Review of Islamic Economics and Business, 2017
This study aims to measure the level of efficiency of the life insurance industry in Indonesia. T... more This study aims to measure the level of efficiency of the life insurance industry in Indonesia. The calculation of the efficiency level in this study is relative, not absolute. The approach used is Data Envelopment Analysis (DEA). There are 8 research objects: Prudential, BNI Life, PaninDai-IchiLife, Asuransi Jiwasraya and Life Insurance Adisaranan Wanaartha, Takaful Takaful Insurance, Amanahjiwa Giri sharia insurance and Al-Amin sharia life insurance. This study consists of three input variables (cost of Commissive (X1), Operational Cost (X2), Total Equity (X3) and 2 output variables (Premium) (Y1) and Investment Revenue (Y2)). The results explain that there are 15 perfectly efficient DMUs (100%). And an inefficient of 24 DMU, consisting of 7 DMU conditions IRS and 17 DMU with DRS conditions. Of all the DMU observed, Prudential insurance is a life insurance company that is able to maintain its gradual efficiency level from 2013 to 2016 when compared to other life insurance in this ...
Global Review of Islamic Economics and Business, 2016
This study aims to 1) measure Syariah Maqasid Index (SMI) and Profitability Index (PI) of Islamic... more 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)...
Tamkin Journal
The Islamic financial industry in Indonesia is currently a global concern, one of which is bank f... more The Islamic financial industry in Indonesia is currently a global concern, one of which is bank financial institutions, so measuring productivity is essential for Islamic rural banks (BPRS) in Indonesia. This study tries to analyze the BCC model as a basic model to see the level of productivity in a BPRS using the Malmquist productivity index, both in terms of changes in efficiency and changes in technology. The results obtained from the Malmquist index score or total productivity change (TFPCH) show that, in general, BPRS has experienced a decline in productivity but has increased in the last two years. However, there are six BPRS out of 16 BPRS that get an average score of more than one and show an increase in productivity. The BPRS with the highest productivity level score is PT BPD East Kalimantan and North Kalimantan, and the BPRS with the lowest productivity level score is PT BPD Central Java (UUS). However, East Java still has not reached the optimal level of productivity, wi...
International Journal of Waqf
The practice of waqf is usually focused on a building or piece of land. Many donors end up not be... more The practice of waqf is usually focused on a building or piece of land. Many donors end up not being able to afford the assets to participate in the Waqf. Cash waqf allows people of all backgrounds to engage in long-term charitable work. This study aims to analyze the sentiment generated from the social media ‘Twitter’ application regarding cash waqf. The technique employed is sentiment analysis of secondary data consisting of 330 tweets. The results showed that positive sentiment was the highest result with a percentage of 53%, followed by neutral sentiment at 32.1%, and negative sentiment at 14.8%. The good (positive) sentiment is the opinion of Twitter users who tweet about cash waqf topics by being positive and tend to be optimistic in responding to the existence of cash waqf and supporting the development of cash waqf. While the negative sentiment is the opinion of Twitter users who tend to express criticism in reviewing developments related to cash waqf. According to the findi...
Journal of Islamic Economic Literatures
This bibliometric study investigated the current state of documents on Islamic financial technolo... more This bibliometric study investigated the current state of documents on Islamic financial technology published by digital object identifier equipped journals listed in Dimension. The analysis focused on the description of characterictics and trends of the keywords, authors and journals. The data analyzed were 229 publications of research publications in Dimension (https://dimension.ai). The searches used to establish the study dataset were last updated on 30 January 2021. Descriptive statistical methods were used, and a bibliometric analysis was conducted using the R Biblioshiny to find out the bibliometric map. The number of articles discussing the theme of Islamic fintech has been quite large in recent years. There are many journals that publish this theme, among which the most impactful is the SSRN Electronic Journal which has many authors who research regarding this theme with various keywords. The most popular keywords used are ‘Islamic, Fintech, Financial’. This study provides ...
Ekonomi Islam Indonesia
The purpose of this study is to analyze the comparison of the level of efficiency between time an... more The purpose of this study is to analyze the comparison of the level of efficiency between time and the productivity of state commercial banks in Indonesia. State commercial banks in this case are grouped into 4 major groups including BUS, BUK, BPD, UUS. Measurement of the value of efficiency in this study uses the method of Data Envelopment Analysis (DEA). The use of the DEA method can measure the efficiency of banking by using many inputs and outputs. The continued application of the use of DEA is to use DEA Window Analysis, the result is the BUS has the best efficiency stability value with an average of 0.03 LDY then BUK with an average of 0.04, BPD with an average of 0.05 and UUS with an average an average of 0.09. Also this study wants to see the extent of the productivity of the country's commercial banks, the results using the Malmquist Index obtained BUS with the highest level of productivity with an average value of 1.008 then BPD with a value of 1.004, continued BUK 0.9...
Ekonomi Islam Indonesia
This study aims to determine the development map of waqf research that is indexed by Scopus. The ... more This study aims to determine the development map of waqf research that is indexed by Scopus. The research was conducted in November 2019 by searching through the Scopus database with the keyword "waqf". The data analyzed were 104 publications of Scopus indexed waqf research publications. The development map of waqf research is obtained through the export process into the .txt file format. The export data is then processed and analyzed using the VOSviewer application program to find out the bibliometric map of the development of waqf research that is indexed by Scopus. The results showed that the number of publications on the development of waqf research indexed Scopus from 2010-2019 experienced a significant increase and the most were published in ISRA International Journal of Islamic Finance. Network visualization showed that the map of the development of waqf research was divided into 5 clusters. Cluster 1 consists of 10 topics, cluster 2 consists of 10 topics, cluster 3...
Journal of Islamic Philanthropy and Disaster (JOIPAD)
ICR Journal
A green economy is expected to solve the failure of the conventional economy to address climate c... more A green economy is expected to solve the failure of the conventional economy to address climate change. It would do this by emphasising the balance between economic and environmental factors – an approach that is in line with the existing concept of Islamic finance. As a new field, research related to the green economy is still developing. This study attempts to provide quantitative information on this development. In total, Scopus lists 1183 papers, including journal articles, book chapters, and conference papers, on this subject, all produced between 1961 and 2021. This study employed the Biblioshiny package from R-studio and Excel software to synthesise and analyse this data. In addition, we identified relevancies between the green economy and Islamic finance using existing research. Regarding the results obtained, the natural fit between Islamic finance and a green economy would naturally support the implementation of the latter. Furthermore, the results show that sukuk, in part...
International Journal of Islamic Economics and Finance (IJIEF), 2021
This study aims to determine the development map of mathematic model in islamic economics and fin... more This study aims to determine the development map of mathematic model in islamic economics and finance research that is indexed by Scopus and other reputable journal with the keyword "Mathematic model in islamic economics and finance". The data analyzed were 100 selected publications. The development map of mathematic model in islamic economics and finance research analyzed using the VOSviewer application program to find out the bibliometric map. The results showed that the number of publications on the development of mathematic model in islamic economics and finance research indexed Scopus from 1983-2019 experienced a significant increase and the most were published in Journal of King Abdulaziz University: Islamic Economics. Network visualization showed that the map of the development of mathematic model in islamic economics and finance research was divided into 3 clusters. The majority of research is related to modeling of Profit Loss Sharing (PLS) schemes. However, despi...
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business), 2020
This study aims to determine the opinions and recommendations from the experts regarding the prob... more This study aims to determine the opinions and recommendations from the experts regarding the problem of the audit system in zakat institutions in Indonesia to determine the priority of the most important variables to be fixed. This research was conducted in August 2020 using primary data obtained from interviews with experts consisting of academics, practitioners and regulators with a background in sharia economics. The data were analyzed by the Delphi method to find the main priority and agreed upon convergence by experts. The results showed that of the 15 variables of audit problems at zakat institutions in Indonesia, there are 13 variables with convergent-convergent consensus based on expert opinion and only 2 variables with divergent consensus. The 3 main priority problems of auditing in zakat institutions in Indonesia are (1) an Insufficient number of sharia auditors, (2) The absence of strong rules related to sharia auditing, (3) HR competence. This research can be used by rea...
International Journal of Zakat, 2020
This study aims to determine the development and trend map of the Zakat and Technology outbreak r... more This study aims to determine the development and trend map of the Zakat and Technology outbreak research that is published by reputable journals in the theme of Islamic economics and finance. The data analyzed covering more than 440 publications of indexed research publications. The export data is then processed and analyzed using the R Biblioshiny application program to find out the bibliometric map of the development of the role of Islamic economics and finance in zakat and technology research. The results showed that the number of publications on the development of the role of Islamic economics and finance research experienced a significant increase. The results show that the highest number of document types are journaled articles. The most popular authors are Kuran T, and the most popular keyword topics are zakat, Islam, and Indonesia.
International Conference of Zakat, 2019
Zakah institution is the intermediary organizations based on social. Although based on social act... more Zakah institution is the intermediary organizations based on social. Although based on social activities, but the management is still needs to uphold professional, accountability and transparency principles. This study attempts to analyze the productivity level of zakat organization in Indonesia, both in terms of changes of its efficiency and also its technological. There are two things that are calculated in Malmquist index measurement that is catch-up effect and frontier shift effect. The catch-up effect measures the rate of change in relative efficiency from period 1 to period 2. Meanwhile the frontier shift effect measures the rate of technological change that is a combination of input and output from period 1 to period 2. The frontier shift effect is often called an innovation effect. Findings from the results of the productivity index analysis are very interesting. In general, there has been an increase in the level of productivity of zakat institutions in Indonesia in the per...
Shirkah: Journal of Economics and Business, 2018
The Development of Islamic Banking Industry in Indonesia relatively shows a good tendency. In the... more The Development of Islamic Banking Industry in Indonesia relatively shows a good tendency. In the market, inefficiency would be the great obstacles in head to head to conventional bank. Despite of efficiency performance in Islamic Bank, Islamic Bank also must have sharia compliance performance. So it needed to identified the efficiency of Islamic Bank in Indonesia and the achievement of Maslahah in term of three aspects, there are education, the creating of justice, and the attainment of welfare. This study would try to measure the efficiency of Islamic Banking Industry with Data Envelopment Analysis (DEA) method and also to evaluate the performance by using Maqasid Sharia Index (MSI). Banxia Frontier Analyst 3.1 used in the data calculation. The calculation of the level of Islamic Bank efficiency in this study are relative, not absolute. Result of this study indicate four main findings, first, Islamic bank involve in quadran 1 is Islamic bank who reached the highest efficiency and ...
Shirkah: Journal of Economics and Business, 2019
This article emphasizes to analyze the effect of macroeconomic variables on sharia capital market... more This article emphasizes to analyze the effect of macroeconomic variables on sharia capital market in Indonesia by using Vector Error Correlation Model (VECM) approach method. The variables used are world oil price, Industry Production Index (IPI) Currency Exchange Rate to Dollar and Consumer Price Index (CPI) in Indonesia. The research show that in the Indonesian Stock Sharia Index (ISSI) model, the VECM in the ISSI model can explain in the short term the IPI variable, world oil price, rupiah to dollar, DJIA and CPI does not affect to ISSI variable. While in the long term, world oil prices are positive climate and Dow Jones Industrial Average (DJIA) variables negatively affect ISSI. In addition, FEVD test the world oil price has more dominant contribution than other variable 6.02%. Keywords: sharia capital market, macroeconomics, VECM, ISSI
Journal of Islamic Monetary Economics and Finance, 2018
Despite of market condition under perfect or unperfect competition, Islamic banking has to reach ... more Despite of market condition under perfect or unperfect competition, Islamic banking has to reach their level of efficiency in order to succeed and make a profit; those who do not will fail and be forced to exit the market. However apart of having a sound performance, Islamic banking also has to comply with the sharia principles. This paper aims to have efficiency and maslahah measurement in one assessment framework that is maslahah-efficiency quadrant (MEQ). The study from 2011-2014 revealed that Bank Muamalat Indonesia (BMI) and Sharia Panin Bank are excellent since both are within the first quadrant. Whereas Bank Sharia Mandiri (BSM), Sharia Maybank, and Sharia Bukopin Bank are considered good at the second quadrant; Bank Rakyak Indonesia Sharia (BRI) and BCA Sharia are fair at the third; and Bank Mega Sharia, Victoria Sharia, Bank Negara Indonesia Sharia (BNI), and Bank Jabar Banten Sharia (BJB) are poor at the fourth sequentially. It is urge for Islamic bank that are in low leve...
journal of king Abdulaziz University Islamic Economics, 2018
This research aims at detecting early indicators that cause conventional banking and Islamic bank... more This research aims at detecting early indicators that cause conventional banking and Islamic banking crises, identifying the longest crisis period for both types of banks, and comparing the stability between the two kinds of banks. The method used is the Markov Switching Vector Autoregressive (MS-VAR) approach. This study uses secondary data obtained from official sources and in monthly form from January 2004 to March 2017. The results show that Islamic banking is more stable against internal and external shocks than conventional banking. Z-score for Islamic banking is higher (11,933) than the Z-score for conventional banking (11,679). The longest crisis period for conventional banking was around April 2013 – March 2017 while for Islamic banking was around January 2008 – October 2008.
Global Review of Islamic Economics and Business, 2018
The Cooperative (Koperasi) as a non-Bank financial institution has the purpose of improving the w... more The Cooperative (Koperasi) as a non-Bank financial institution has the purpose of improving the welfare of its members as Koperasi Hidmat and the staffs of Latifah Mubarokiyah Koperasi Ponses Suryalaya that have been since decades ago. Over time, the ideal cooperative can show a significant development and increase the welfare of its members. This study aims to determine the efficiency of cooperative as a benchmark, because by known the performance value of a cooperation, it will known the weeknesses and advantages so that it can be improved the weaknesses and maintain the advantages.The method used is apply Data Envelopment Analysis (DEA). Inputs used from principal savings, mandatory savings, and fixed assets while the output used from savings in the cooperative, savings in other cooperative and SHU. As for result of this research indicates there are 9 perfect efficient DMUs (100 %) and inefficient DMU is 11 DMUs, consisting of 7 (IRS conditions) and 4 (DRS condition). The mos...
Global Review of Islamic Economics and Business, 2017
This study aims to measure the level of efficiency of the life insurance industry in Indonesia. T... more This study aims to measure the level of efficiency of the life insurance industry in Indonesia. The calculation of the efficiency level in this study is relative, not absolute. The approach used is Data Envelopment Analysis (DEA). There are 8 research objects: Prudential, BNI Life, PaninDai-IchiLife, Asuransi Jiwasraya and Life Insurance Adisaranan Wanaartha, Takaful Takaful Insurance, Amanahjiwa Giri sharia insurance and Al-Amin sharia life insurance. This study consists of three input variables (cost of Commissive (X1), Operational Cost (X2), Total Equity (X3) and 2 output variables (Premium) (Y1) and Investment Revenue (Y2)). The results explain that there are 15 perfectly efficient DMUs (100%). And an inefficient of 24 DMU, consisting of 7 DMU conditions IRS and 17 DMU with DRS conditions. Of all the DMU observed, Prudential insurance is a life insurance company that is able to maintain its gradual efficiency level from 2013 to 2016 when compared to other life insurance in this ...
Global Review of Islamic Economics and Business, 2016
This study aims to 1) measure Syariah Maqasid Index (SMI) and Profitability Index (PI) of Islamic... more 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)...
Puskas Baznas, 2020
Konsep Zakatnomics secara umum adalah gerakan kesadaran untuk membangun tatanan ekonomi baru untu... more Konsep Zakatnomics secara umum adalah gerakan kesadaran
untuk membangun tatanan ekonomi baru untuk mencapai
kebahagiaan, keseimbangan kehidupan dan kemuliaan
hakiki manusia yang didasari dari semangat dan nilai-nilai
luhur syariat zakat bertujuan untuk melihat peran aktivitas
zakat, dari pengumpulan dana muzaki, dinamika distribusi
hingga empowerment kepada mustahik berdampak terhadap
perkembangan ekonomi secara luas. Potensi tersebut lalu
didorong melalui 4 pilar pembangunan zakatnomics yaitu
keimanan, produktivitas, keadilan ekonomi termasuk didalamnya
potensi halal industri dan kelembagaan ZISWAF (Zakat Infaq,
Sedekah dan Wakaf).
Buku ini adalah kompilasi dari berbagai tema hasil penelitian kompetitif pada tahun anggaran 2014... more Buku ini adalah kompilasi dari berbagai tema hasil penelitian kompetitif pada tahun anggaran 2014 yang diselenggarakan oleh Puslitbang Kehidupan Keagamaan, Badan Litbang dan Diklat Kementerian Agama.
Penerbitan buku ini adalah upaya untuk menyebarluaskan hasil penelitian yang telah dilakukan oleh Puslitbang Kehidupan Keagamaan, sebagai wujud tanggungjawab kami untuk melakukan transformasi pengetahuan kepada masyarakat khususnya tentang kehidupan keagamaan. Buku ini diharapkan bisa meningkatkan kapasitas ruang pengetahuan dan informasi di tengah-tengah masyarakat.
Secara garis besar, karakteristik artikel-artikel dalam buku ini terbagi menjadi tiga bagian. Per... more Secara garis besar, karakteristik artikel-artikel dalam buku ini terbagi menjadi tiga bagian. Pertama, bersifat konseptual ekonomi Islam itu sendiri. Kedua, bersifat kritik terhadap kapitalisme yang sedang ‘sakit’ dan konsep ekonomi Islam sebagai alternatif solutif. Ketiga, bersifat otokritik terhadap pengembangan ekonomi Islam saat ini disertai masukan membangun.
Pengalaman krisis demi krisis yang menimpa ekonomi dunia dalam satu abad terakhir ini seharusnya ... more Pengalaman krisis demi krisis yang menimpa ekonomi dunia dalam satu abad terakhir ini seharusnya telah menyadarkan kepada kita bahwa masalah inflasi telah berkembang menjadi persoalan yang semakin kompleks. Diawali dengan terjadinya malapetaka yang besar (the great depressions) pada tahun 1930-an, kemudian disusul dengan terjadinya krisis Amerika Latin pada dekade 1980-an, akhirnya muncul kembali pada krisis moneter di Asia pada pertengahan tahun 1997-an, adalah pengalaman ekonomi dunia dengan inflasi tingginya (hyper inflation) yang sangat merusakkan sendi-sendi ekonomi (Triono, 2006).
Hari ini, dunia sedang dikejutkan dengan perkembangan yang mencengangkan akan sebuah disiplin ilm... more Hari ini, dunia sedang dikejutkan dengan perkembangan yang mencengangkan akan sebuah disiplin ilmu –yang sesungguhnya bukanlah barang baru- yang dipastikan paling banyak menyentuh problem masyarakat dunia. Ya, saat ini Ekonomi Islam sedang mengalami euforia, baik di negara berkembang, atau di negara maju sekalipun. Industri keuangan serta bentuk lembaga ekonomi Islam lain tumbuh di seantero jagat, mulai dari Timur Tengah, kawasan Asia hingga negara-negara Barat seperti Inggris. Di Indonesia, Ekonomi Islam sebagian besar mengejahwantah menjadi ‘industri keuangan syariah’, utamanya Bank Syariah yang juga menjadi entitas yang paling laku ‘dijual’ pasca krisis moneter 1997.
Dunia tersentak. Kaget sekaligus takjub. Amatlah langka –bahkan nyaris tak ada, seorang yang berl... more Dunia tersentak. Kaget sekaligus takjub. Amatlah langka –bahkan nyaris tak ada, seorang yang berlatar belakang ekonomi meraih penghargaan nobel di bidang perdamaian. Lazimnya, penerima penghargaan jenis ini adalah ia yang aktif dalam hal rekonsiliasi antarnegara atau yang sejenisnya. Dan bukan lulusan strata tiga ekonomi yang tiap harinya dekat dan bergumul dengan kebanyakan orang miskin. Barangkali menjadi suatu hal wajar andaikata sang doktor meraih penghargaan nobel yang sama di bidang ekonomi. Namun tidak. Ia justru mendapat nobel dalam bidang lain: Perdamaian. Ada apa gerangan? Mengapa dan siapakah sang doktor yang kini menjadi bahan perbincangan hangat seantero dunia itu?
Membincangkan ekonomi, selalu saja menarik. Apalagi tema ekonomi Islam yang saat ini digaungkan d... more Membincangkan ekonomi, selalu saja menarik. Apalagi tema ekonomi Islam yang saat ini digaungkan dapat menjadi salah satu alternatif sistem ekonomi pengganti mazhab ekonomi kapitalis yang sedang sakit. Konon, pusat Vatikan pun menyuruh umatnya untuk mempelajari sistem ekonomi dan keuangan Islam. Lantas muncullah tesis: There's something wrong with capitalism. Kita perlu lebih memakai moral dan etika dalam berekonomi
Walaupun dipandang sangat potensial dan prospektif, perkembangan obligasi syariah di indonesia d... more Walaupun dipandang sangat potensial dan prospektif, perkembangan obligasi syariah di indonesia dapat dikategorikan sangat lambat. Total emisi hingga akhir 2009 baru mencapai 6.71 triliun rupiah (sekitar 700juta)dibandingkandenganMalaysiayangpadapertengahan2007sajatelahmembukukantotalemisiRM111,5miliar(700 juta) dibandingkan dengan Malaysia yang pada pertengahan 2007 saja telah membukukan total emisi RM 111,5 miliar (700juta)dibandingkandenganMalaysiayangpadapertengahan2007sajatelahmembukukantotalemisiRM111,5miliar(33 miliar).
Achsien (2004) menjelaskan bahwa banyak tantangan yang dihadapi dalam pengembangan obligasi syariah di Indonesia, diantaranya adalah sosialisasi kepada investor, opportunity cost, aspek likuiditas, sampai regulasi atau perundang-undangan
The problem on money is a complex one. It relates to almost every aspects in economic. Because of... more The problem on money is a complex one. It relates to almost every aspects in economic. Because of that, the process in making monetary policy that can get through real sectors becomes a complex problem too. This process commonly known as transmission mechanism on monetary policy.
The transmission mechanism is a channel between monetary policy and economics (Pohan, 2008).
Interest free banking have instrument base on the concept of profit sharing that gives flexibility to lenders. With this system, the increase of money in market will followed by the increase of real sectors.
Waqf is one of Islamic law that concern to people’s lives which is has a function for the communi... more Waqf is one of Islamic law that concern to people’s lives which is has a function for the community interest in order to obey to Allah SWT. In practice, waqf in Indonesia faces many hard problems, because commonly known as non-productive waqf. Talking about cash waqf, waqf institution not only as religious rituality but also could touch humanity aspect by empowering its potency to maximize public wealth.
This research is aim to identify the priority factors that being barrier to develop the practice of cash waqf in Indonesia using Analytic Network Process (ANP) method. Here is also offered some solutions for the problems identified.
Result show that the problems appeared in managing cash waqf in Indonesia divided into 4 important aspects, there are: Human Resource aspect, trust aspect, system aspect, and sharia aspect. The rank for most priority problems to less priority based on the priority result are: 1) trust problems (whereas the most priority for this sub-criteria is donators’ lack of trust), 2) sharia problems (is unfulfilled waqf covenants), 3) human resource problems (is misappropriation of waqf funds, 4) system problems (is weak of management systems). Strategies that can be built to develop the practice of cash waqf in Indonesia based on the priorities are: 1) more computerized cash waqf management, 2) the development of waqf education institutions, 3) more comprehensive fund manager quality improvement, 4) transparency and accountability in every step.
Keywords: Cash Waqf, Management, ANP
Inflation is a monetary phenomenon which always be a problem for the economist in every country. ... more Inflation is a monetary phenomenon which always be a problem for the economist in every country. The determinant factor of increasing price can be analyzed to get the best solution. Islamic and conventional economic have different paradigm about solution that should be done. This study try to analyze the determinant of Indonesian inflation with two approaches model using Vector Auto Regression (VAR) and Vector Error Correction Model (VECM) methods.
The results of variance decomposition, show that contribution of independent variable in Islamic model is greater than conventional one with 14.8 percent and 7.4 percent, respectively. Other findings show that interest rate gives positive influence and dominant contribution to IHK than other variables both, in Islamic model (13%) and mixed model (39%). Therefore, interest system in the Indonesian economy should be reconsidered to achieve monetary stability.
JEL Classification: C32, E31, E52
Keyword: Determinan Inflasi, Sistem Moneter, VAR/VECM