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All Journal IJIBE (International Journal of Islamic Business Ethics) Journal of Islamic Monetary Economics and Finance
Bayu Taufiq Possumah
Institut Agama Islam Tazkia, Indonesia
Economics, Econometrics & Finance

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ISLAMIC FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND CO2 EMISSIONS IN INDONESIA Azwar Iskandar; Bayu Taufiq Possumah; Khaerul Aqbar
Journal of Islamic Monetary Economics and Finance Vol 6 No 2 (2020)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v6i2.1159

Abstract

This study aims to investigate the dynamic relationship between Islamic financial development, economic growth, and CO2 emissions with Environmental Kuznets Curve (EKC) approach in Indonesia over the 2000-2018 period. This study employs the Auto Regressive Distributed Lag (ARDL) bound testing approach and the Error Correction Mechanism (ECM) to examine the existence of long-run and short-run relationship between variables. From the results of the model, we do not find any support for the existence of the EKC for Indonesia. Moreover, the results present that there is no dynamic relationship in the short run among growth, Islamic finance development and CO2 emission. Long-run findings suggest that CO2 emission from transport; other sectors, excluding residential buildings and commercial and public services; and residential buildings and commercial and public services sector are significantly associated to the Islamic finance development in Indonesia. The findings of this study shows that Islamic finance development can help the country to adjust its CO2 emissions and play its role in protecting the environment by encouraging environmental-friendly and energy-efficient projects. A strong and efficient financial sector would be helpful in facilitating the investment process by advancing loans for business in condition with curbing CO2 emissions.
GLOBAL COVID-19: WHAT ISLAMIC ECONOMIC AND FINANCE CAN DO? INDONESIA EXPERIENCE Azwar Iskandar; Bayu Taufiq Possumah; Khaerul Aqbar
IJIBE (International Journal of Islamic Business Ethics) Vol 6, No 2 (2021): September 2021
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ijibe.6.2.119-134

Abstract

Pandemic of COVID-19 has shocked and spread all over the world, including Indonesia. This research was conducted with the aim to lay out the role of Islamic economic and finance policies, as well as to propose a number of solutions which could be offered to solve various problems in time of the COVID-19 pandemic in Indonesia. By using descriptive qualitative approach, this research attempts to analyse various concepts that found in the research process trough content analysis techniques and library research. The results show that within the framework of Islamic economic and finance, some strategies that we can employ to dispose the social impact of COVID-19 such as: (1) distribution of direct cash assistance from zakat and infaq, collected by zakat and other social institutions; (2) strengthening infaq programs for various needs; (3) strengthening waqf programs, including cash waqf for social waqf projects, productive waqf, combination of social-productive waqf, or cash waqf linked sukuk; (4) superior venture capital assistance for the business sectors or Micro and Small Enterprises (MSEs); (5) the qardh al-hasan scheme; (6) strengthening MSMEs businesses; (7) improvement of Islamic economic and finance literacy; and (8) the development of Islamic financial technology. If the above programs using Islamic economic and finance instruments could really be encouraged, the economic surplus would be re-established and the acceleration of economic recovery could be realized, while at the same time reducing poverty and supporting the achievement of equitable distribution of income and wealth.
Co-Authors Azwar, Azwar Khaerul Aqbar