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Penerapan Dinar dan Stabilitas Ekonomi: Pendekatan Vector Autoregression Rusydiana, Aam Slamet
IKONOMIKA Vol 2, No 1 (2017)
Publisher : Universitas Islam Negeri Raden Intan Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (222.12 KB) | DOI: 10.24042/febi.v2i1.899

Abstract

The application of fiat money in transaction makes unstability in economy. To solve this problem, it needs a strong monetary system that support by stabil currency. This research is going to analyze the impact of dinar on economic stability in Indonesia. This study use vector error correction model as tool of analysis. The result shows that exchange rate had negative impat of economic growth, but dinar give a positive impact on economic growth. Besides that, the dinar doesn’t give an impact on inflation increasing in Indonesia. This result imply that the application of dinar will make an economy relatively stabil than fiat money currency.
ADVANCEMENT AND SETBACK IN ISLAMIC BANKING PRODUCTIVITY IN ASEAN: DO TECHNOLOGICAL CHANGES MATTER? Aam Slamet Rusydiana; Aisyah Assalafiyah
Journal of Islamic Monetary Economics and Finance Vol 7 No 3 (2021)
Publisher : Bank Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21098/jimf.v7i3.1322

Abstract

This study applies Data Envelopment Analysis (DEA) to measure the efficiency level of 24 Islamic banks in four ASEAN countries (Indonesia, Malaysia, Brunei Darussalam and Thailand) over the 2010-2019 period. Specifically, this study uses the Banker, Charnes and Cooper (BCC) model as a basic approach in DEA with variable return to scale assumption. The Malmquist index was also employed to explain whether the changes in Islamic banks’ efficiency and productivity is affected by the efficiency changes or technological changes. According to the Malmquist index scores on total factor productivity (TFP) change, 17 of the 24 Islamic banks (or 70.8 percent) achieved an improvement in productivity over the research period, with Thailand recording the highest productivity level increase. Overall, the most productive Islamic bank was Affin Islamic Bank Berhad. Finally, it was observed that there was a productivity growth in the last two years of the period, namely 2017-2018 and 2018-2019. The productivity change was driven more by efficiency than by technology, implying that Islamic banks in ASEAN countries must improve the technological aspect.
Efisiensi Dan Stabilitas Bank Umum Syariah Di Indonesia Aam Slamet Rusydiana
Akuntabilitas Vol 11, No 2 (2018)
Publisher : Department of Accounting-Faculty of Economic and Business (FEB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (658.568 KB) | DOI: 10.15408/akt.v11i2.7033

Abstract

The Islamic banking industry is currently one of the main indicators of the development of Islamic financial economics in general in Indonesia. This study tries to analyze the CCR and BCC models as a basic model in the DEA to see the level of efficiency of sharia commercial banks in Indonesia for the period 2007-2014. The results of the study conclude that the average efficiency of CRS as a whole from BUS in Indonesia is relatively low at 66%, while the average standard deviation is 0.14. This indicates the poor performance of the Sharia banking industry in general in Indonesia. Nevertheless, the VRS approach of Islamic banks has a higher efficiency value, namely 81%. For the analysis of bank groups with efficiency and stability efficiency criteria for VRS, there are 2 sharia commercial banks in quadrant 1 (high efficiency low stability), there are 4 Islamic banks in quadrant 2 (high efficiency and stability), and 3 Islamic banks into quadrant 3 (low efficiency and stability). Meanwhile there are 2 sharia commercial banks that are in the quadrant 4 category (low efficiency and high stability). 
Perubahan Teknologi dan Efisiensi pada Organisasi Pengelola Zakat di Indonesia Aam Slamet Rusydiana
Liquidity: Jurnal Riset Akuntansi dan Manajemen Vol 7 No 2 (2018)
Publisher : Institut Teknologi dan Bisnis Ahmad Dahlan Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32546/lq.v7i2.218

Abstract

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 period 2011 to 2016. The increase in productivity growth (1.116) of zakat institutions in Indonesia is generally caused by technological change (1.137) instead of changes in efficiency (0.982). Thus the service of zakat institutions is needed which is more innovative in relation to the development of technology in the future.
Spin-Off Policy of Sharia Bank: Is It Profitable? Aam Slamet Rusydiana; Abrista Devi; Fatin Hasib; Lina Rani
Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 11, No 2 (2019)
Publisher : Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1139.259 KB) | DOI: 10.15408/aiq.v11i2.9157

Abstract

According to Law no. 21 Year 2008, the Sharia Business Unit (SBU) owned by a Conventional Commercial Bank (CCB) is required to separate from its Parent Bank before year 2023. Some Sharia Business Units have initiated a separation step from Conventional Commercial Bank. On the other hand, they are required to keep the level of efficiency in running its business operations. This paper is intended to analyze the efficiency level of Sharia Business Units that have separated from its parent and then compare whether there is difference of efficiency level between before and after separation. The method used is Data Envelopment Analysis (DEA) and Paired Sample t-Test.The results show that based on the total average efficiency of all sharia banks spin off (in this case four sharia banks namely BNI Sharia, BRI Sharia, BJB Sharia and Bukopin Sharia Bank), there occur a decrease in efficiency technically and also pure the technical itself in sharia banks starting from before and after the spin off. This can be read because in the early periods of spin off there was a cost adjustment on the shariah bank spin off. Sharia banks require a 'weaning' from their parents. Nevertheless, there is no statistically significant difference in efficiency levels between before and after the spin off. This should be a booster for other Sharia Business Units to take the decision to spin off immediately, of course, accompanied by careful and prudent planning and implementation.
Mengembangkan Koperasi Syariah di Indonesia: Pendekatan Interpretative Structural Modelling (ISM) Aam Slamet Rusydiana; Abrista Devi
Economica: Jurnal Ekonomi Islam Vol 9, No 1 (2018)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2018.9.1.2181

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Despite growing rapidly, but Islamic cooperatives are still experiencing many obstacles in its development, both from the internal, external and regulatory side. This study attempts to identify the factors of needs, activities, and objectives in the development of sharia cooperatives in Indonesia, using the Interpretative Structural Modelling (ISM) approach. The results of this study provide some conclusions include: (1) Elements of the needs of the key key in sharia cooperative development strategy in Indonesia to improve SMEs is the need for strong support on the legal aspects of sharia cooperatives, (2) Elements of activities that are key to Shariah cooperative development are to conduct training and certification programs for shariah cooperative management and members, and (3) Elements of actors/institutions that are key in sharia cooperative development strategy in Indonesia to improve UMKM is sharia financial institution.Walaupun tumbuh dengan pesat, namun koperasi syariah masih mengalami banyak kendala dalam pengembangannya, baik dari sisi internal, eksternal maupun regulasi. Penelitian ini mencoba untuk mengidentifikasi faktor-faktor kebutuhan, aktifitas dan tujuan dalam pengembangan koperasi syariah di Indonesia, dengan pendekatan metode Interpretative Structural Modelling (ISM). Hasil penelitian memberikan beberapa kesimpulan, antara lain: (1) Elemen kebutuhan yang menjadi kunci utama dalam strategi pengembangan koperasi syariah di Indonesia untuk meningkatkan UMKM adalah perlu adanya dukungan yang kuat pada aspek hukum koperasi syariah, (2) Elemen aktifitas yang menjadi kunci utama dalam pengembangan koperasi syariah adalah mengadakan training dan program sertifikasi bagi manajemen koperasi syariah dan anggota, dan (3) Elemen pelaku/lembaga yang menjadi kunci utama dalam strategi pengembangan koperasi syariah di Indonesia untuk meningkatkan UMKM adalah lembaga keuangan syariah.
Islamic Banking Selection Criteria: Case in Indonesia Using Analytic Network Process Aam Slamet Rusydiana; Fatin Fadhilah Hasib
Economica: Jurnal Ekonomi Islam Vol 10, No 1 (2019)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2019.10.1.2846

Abstract

The Islamic banking industry is currently one of the main indicators of the development of Islamic economics in Indonesia. In Islamic banking issue, one of the important issues is related to people's preferences and behavior towards Islamic banks. The study of the criteria for selecting a bank has been the concern of many bank marketing researchers. Compared to conventional, such studies are relatively minimal, especially in Indonesia. This study tries to analyze the preferences and behavior of criteria for selection of Islamic banks in Indonesia through the Analytical Network Process (ANP) approach.The results conclude that the most priority criteria that influence the selection of Islamic banks in Indonesia are service factors and religiosity factors or the suitability of banks with sharia principles. Therefore, Islamic banks need to constantly improve the quality of services both services and products so that they can compete with conventional banks.Industri perbankan syariah saat ini merupakan salah satu indikator utama perkembangan ekonomi Islam di Indonesia. Dalam masalah perbankan syariah, salah satu masalah penting adalah terkait dengan preferensi dan perilaku pemilihan masyarakat terhadap bank syariah. Studi tentang kriteria pemilihan bank syariah telah menjadi perhatian banyak peneliti. Studi tersebut relatif minimal jika dibandingkan dengan bank konvensional, terutama di Indonesia. Penelitian ini mencoba menganalisis preferensi dan perilaku pemilihan kriteria bank syariah di Indonesia melalui pendekatan Analytical Network Process (ANP). Hasilnya menyimpulkan bahwa kriteria yang paling prioritas yang mempengaruhi nasabah dalam memilih bank syariah di Indonesia adalah faktor layanan dan faktor religiusitas atau kesesuaian bank dengan prinsip syariah. Oleh karena itu, bank syariah perlu terus meningkatkan kualitas layanan baik produk maupun jasa sehingga mereka dapat bersaing dengan bank konvensional.
MASLAHAH BASED MEASUREMENT ON INDONESIA ISLAMIC BANKS Aam Slamet Rusydiana; Hendri Tanjung; Lina Marlina
IJIBE (International Journal of Islamic Business Ethics) Vol 3, No 1 (2018): March 2018
Publisher : UNISSULA

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30659/ijibe.3.1.365-382

Abstract

Every single effort or process taken by Islamic bank to maximize output should also uphold Islamic values, so that maqashid sharia (maslahah-sharia objectives) would be authomatically achieved. There were some research conducted to measure Islamic bank performance using maqashid sharia framework. However, these studies were not explicitly addressing the issue of cost-saving strategies within the framework of efficiency measurement. It is therefore this paper aims to  have  efficiency  and  maslahah  measurement  in  one assessment framework  that  is  maslahah-eficiency  quadrant  (MEQ). There are three aspects measurement of maslahah, namely education, justice, and welfare as maqashid sharia index (MSI). Hence, in order to measure efficiency level of Islamic Banking Industry especially Sharia Business Unit, this study use Data Envelopment Analysis (DEA) method and employ Banxia Frontier Analyst 3.1 for data analysis. Within the MEQ framework, the study revealed that Permata, CIMB, BTN, DKI, Jambi, and Kalbar are excellent since both are within the first quadrant.Whereas Maybank, NISP, Sinarmas, Sumbar, and Sulselbar are considered good at the second quadrant; Danamon, Jatim, Sumut, Riau&Kepri, Kalsel, and Kaltim are fair at the third; and DIY, Jateng, and NTB are poor at the fourth sequentially. It is urge for Islamic bank that are in low level of MSI to have a critical policy to keep in line with the five factor of maqashid sharia apart of having efficiency in order to reach maslahah. keywords: Maslahah-Efficiency Quadrant (MEQ), Maqashid Sharia index (MSI), DEA, Islamic Bank
THE SELECTION OF EFFICIENT SHARIA STOCKS FOR THE FORMATION OF AN OPTIMAL PORTFOLIO Taufik Nugroho; Aam Slamet Rusydiana
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 7 No. 5 (2020): Mei-2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol7iss20205pp985-1001

Abstract

The analysis of the optimal portfolio allows investors to analyze appropriate to minimize the risks accepted by the objective of maximizing profit with the same risk among existing stocks. Data Envelopment Analysis (DEA) is used to determine the stocks with efficient performance based on ratio analysis. Having selected some stocks, the efficient formation of the optimal portfolio is then performed with a single index models and determined how much the proportion of funds invested in each stock. The sample data used are stocks in listed ISSI 2012-2016. Based on the analysis of efficiency as a candidate portfolio models using DEA - CCR and DEA – BCC, it generate 16 efficient stocks that form the candidate portfolio. After the analysis of all 16 efficient stock, it obtained 6 stocks to form the optimal portfolio Keywords: Optimal Portfolio, DEA, Stocks Efficiency, Single Index ModelREFFERENCE Adler N and B Golany. (2001). Evaluation of deregulated airline networks using data envelopment analysis combined with principal component analysis with an application to western europe. EJOR, 132(2), 260-273.Banker, R.D., Charnes, A., and Cooper, W.W. (1984). Some models for estimating technical and `scale inefficiency in data envelopment analysis. Management Science, 30 (9), 1078-92. Brigham, F. Eugene and Philip R. Daves. (2004). Intermediate Financial Management, eighth edition. New York: McGraw-Hill, Inc.Brigham, E.F. and Houston, J.F. (2007). Fundamentals of financial management. London: Thomson. Bursa Efek Indonesia. (2015). Data factbook Bursa Efek Indonesia tahun 2015. Jakarta: Bursa Efek Indonesia. Bursa Efek Indonesia. (2015). Data Statistik Bursa Efek Indonesia tahun 2015. Jakarta: Bursa Efek Indonesia.Charnes, A., Cooper, W.W., and Rhodes, E. (1978). Measuring the efficiency of decision making units. European Journal of Operation Research, 2(6), 429- 44. Chen, Hsin-Hung. (2008). Stock selection using data envelopment analysis. Industrial Management & Data Systems, 108(9), 1255-1268. Elton, Edwin J, Martin J, Gruber, and Manfred W. Padberg. (1976). Simple criteria for optimal portfolio selection. The Journal of Finance, 31(5), 296-302.Elton Edwin J., and Martin J. Gruber. (1995). Risk reduction and portfolio size: An analytical solution. Journal of Business, 50(4), 415-437.Elton, Edwin J and Martim J Gruber. (1995). Modern portofolio theory and insturement analysis, Fith Edition. Toronto: John Willey & Sons, Inc.Hartono, Jogiyanto. (2010). Teori portofolio dan analisis investasi. Yogyakarta; BPFE.Leila Zamazami et al,. (2014). Portfolio selecton using data envelopment analysis (DEA): A case of selected indi invesment companies. International journal of current research and academic review, 2(4), 50-55.Leivo, Timo, H. & Patari, Eero J. (2010). Ehancement of Value Portfolio Performance Using Data Envelopment Analysis. Studie in Economics and Finance, 27(3), 223-246.Werastuti, Desak Nyoman Sri. (2014). Pembentukan Portofolio Optimal melalui Pendekatan Efisiensi. Jurnal Ilmiah Akuntansi dan Humanika, 3(4), 1262-1289.
EFISIENSI SOSIAL DAN FINANSIAL BANK SYARIAH DI INDONESIA: PENDEKATAN NONPARAMETRIK Aam Slamet Rusydiana
Riset Akuntansi dan Keuangan Indonesia Vol 4, No 1 (2019): Riset Akuntansi dan Keuangan Indonesia
Publisher : Universitas Muhammadiyah Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/reaksi.v4i1.6814

Abstract

Every single effort or process taken by Islamic bank to maximize output should also uphold Islamic values, so that maqashid sharia (maslahah-sharia objectives) would be authomatically achieved. There were some research conducted to measure Islamic bank performance using maqashid sharia framework. However, these studies were not explicitly addressing the issue of cost-saving strategies within the framework of efficiency measurement. It is therefore this paper aims to have financial and social efficiency in one assessment framework that is social-financial efficiency quadrant (SFEQ). Hence, in order to measure efficiency level of Islamic Banking Industry this study use Data Envelopment Analysis (DEA) method and employ Banxia Frontier Analyst 3.1 for data analysis. Within the SFEQ framework, the study revealed that Sharia Panin Bank and Sharia Bukopin Bank are excellent since both are within the first quadrant.Whereas Sharia Maybank, and BCA Sharia are considered good at the second quadrant; Bank Sharia Mandiri (BSM), Bank Muamalat, Bank Rakyat Indonesia Sharia (BRIS), Bank Negara Indonesia Sharia (BNI) and Mega Sharia are fair at the third; and Victoria Sharia, and Bank Jabar Banten Sharia (BJB) are poor at the fourth sequentially. It is urge for Islamic bank that are in low level of ‘social efficiency’ to have a critical policy to keep in line with the five factor of maqashid sharia apart of having efficiency in order to reach maslahah.