cover
Contact Name
-
Contact Email
-
Phone
-
Journal Mail Official
-
Editorial Address
-
Location
Kota bandung,
Jawa barat
INDONESIA
AFEBI Islamic Finance and Economic Review
ISSN : 25485288     EISSN : 25485296     DOI : -
Core Subject : Economy,
AFEBI Islamic Finance And Economic Review (AIFER) is an academic journal which is published twice a year (June and December) by The Association of The Faculty of Economics and Business Indonesia. AIFER is aimed as an outlet for theoretical and empirical research in the field of Islamic Finance and Economics and to disseminate the information of the Islamic Finance and Economics research was conducted by members of AFEBI in particular and researchers in general to the academics, practitioners, students, and others who interested in Islamic Finance and Economics research.
Arjuna Subject : -
Articles 71 Documents
Customer Loyalty of Islamic Banks Adi, Pramono Hari
AFEBI Islamic Finance and Economic Review Vol 1, No 01 (2016)
Publisher : AFEBI Islamic Finance and Economic Review

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The highly rapid growth of sharia commercial banks have required them to compete in obtaining and retaining customers. Therefore, it is important to look carefully at the position of their brands within the industry. Among the measures to see how strong the position of a brand in the market is the level of customers’ brand loyalty. There are five levels of brand loyalty, each of which indicates particular marketing challenge to be addressed. Those levels - from least loyal to most loyal - include switcher, habitual buyer, satisfied buyer, liking the brand, and committed buyer. Using questionnaire to collect primary data from 100 respondents, the results indicate that the highest brand loyalty to Islamic banks has been at the level of satisfied buyer and liking the brand, indicating that consumer loyalty to the Islamic banks has not been perfect. Loyalty needs to be improved towards the committed buyer.Keywords: Brand, Customer Loyalty, Islamic Bank
Efficiency Analysis of Indonesian Sharia Banks Nur Khalimah; Edy Yusuf Agung Gunanto
AFEBI Islamic Finance and Economic Review Vol 4, No 01 (2019)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

The development of Islamic banking in Indonesia is still not optimal, so it requires performance improvement. It is necessary to measure efficiency and productivity to achieve predetermined targets. This study measures the level of efficiency of 12 Islamic commercial banks in Indonesia for the 2016-2018 period using DEA (Data Envelopment Analysis), method with the assumption of CRS (Constant Return to Scale) and maximizing output. Furthermore, the malmquist index analysis is to see the productivity level of Islamic commercial banks. The results show that the overall efficiency of Islamic commercial banks in Indonesia has decreased. In 2016, the average efficiency of Islamic commercial banks was 100 percent. In 2017 the average efficiency was 99.93 percent with 3 Islamic commercial banks that were not efficient. In 2018 the average efficiency was 98.4 percent with 2 Islamic commercial banks that were not efficient. The results of the malmquist index analysis in 2017, there were 8 Islamic commercial banks increasing returns to scale, while 4 Islamic commercial banks decreasing returns to scale. In 2018, 11 Islamic commercial banks increasing returns to scale and 1 Islamic commercial banks decreasing returns to scale.Keywords: Efficiency, productivity, DEA, Islamic Bank.
Zakat Impact on Poverty and Welfare of Mustahik: A CIBEST Model Approach Irfan Syauqi Beik; Caesar Pratama
AFEBI Islamic Finance and Economic Review Vol 1, No 01 (2016)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (784.335 KB) | DOI: 10.47312/aifer.v1i01.16

Abstract

This research aims to analyze the impact of productive zakat program in poverty alleviation of mustahik households, based on materially and spiritually aspects. Primary data was used as the source of data through distributing administered questionnaires in four rural areas in Bogor Regency. 121 respondents had been interviewed. They were the recipients of Masyarakat Mandiri program of Dompet Dhuafa Amil Institution. CIBEST model which have been developed by Beik dan Arsyianti (2014) was used as the tool of analysis. CIBEST model comprising four indices is used as tool of analysis. These indices are welfare index, material poverty index, spiritual poverty index and absolute poverty index. It is found that the presence of zakat utilization program is able to increase welfare index of the mustahik by 147.14 percent. The material poverty index, spiritual poverty index and absolute poverty index can also be reduced by 49.6 percent 1.6 and 12.3 percent, respectively. Meanwhile, welfare index increase by 63.7 percent. In conclusion, productive zakat program give positive impact to the mustahik household life.Keywords: CIBEST model, Islamic poverty index, poverty, productive-based zakat program
Customer Loyalty of Islamic Banks Pramono Hari Adi
AFEBI Islamic Finance and Economic Review Vol 1, No 01 (2016)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (457.315 KB) | DOI: 10.47312/aifer.v1i01.17

Abstract

The highly rapid growth of sharia commercial banks have required them to compete in obtaining and retaining customers. Therefore, it is important to look carefully at the position of their brands within the industry. Among the measures to see how strong the position of a brand in the market is the level of customers’ brand loyalty. There are five levels of brand loyalty, each of which indicates particular marketing challenge to be addressed. Those levels - from least loyal to most loyal - include switcher, habitual buyer, satisfied buyer, liking the brand, and committed buyer. Using questionnaire to collect primary data from 100 respondents, the results indicate that the highest brand loyalty to Islamic banks has been at the level of satisfied buyer and liking the brand, indicating that consumer loyalty to the Islamic banks has not been perfect. Loyalty needs to be improved towards the committed buyer.Keywords: Brand, Customer Loyalty, Islamic Bank
The Marketing Concept in Islamic Perspective: A Literature Review Mirza Tabrani; Marlizar Marlizar
AFEBI Islamic Finance and Economic Review Vol 1, No 01 (2016)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (508.565 KB) | DOI: 10.47312/aifer.v1i01.19

Abstract

The objectives of this paper is to review some researches on marketing concept in Islamic perspective. The expected of this review is to provide benefits for related researches in the future. This study uses some review papers, empirical studies and books related to marketing concept in Islamic perspective. The analysis allows identifying interesting points for future research on the topic of marketing concept in Islamic perspective. This paper provides a better understanding on how Islamic perspective on marketing concept. This paper only reviewed concerned articles from Science Direct, Emerald Insight and books. The results of the review showed that the limited studies about the marketing concept in Islamic perspective (Islamic marketing concept). Result of this study is believed to give worth understanding about actual situation in this field of research. It proposed some notions that will stimulate more intensive researches in this field in the future.Keywords: Islamic Perspective, Literature Review, Marketing Concept, Marketing Mix
The Effect of US Monetary Policy Normalization Toward The Financing Growth of Indonesian Islamic Banking Industry: Short-Term and Long-Term Approaches Ahmad Mikail; Kenny Devita Indraswari
AFEBI Islamic Finance and Economic Review Vol 1, No 01 (2016)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1091.266 KB) | DOI: 10.47312/aifer.v1i01.20

Abstract

The study identifies the effect of The Fed Fund Rate (FFR) normalization toward the financing growth of Islamic banks as well as toward the industrial credit growth in Indonesia. To acquire better understanding about the effect of the increasing FFR, Vector Error Correction Model is being utilized in order to identify short run and long run effects. The data employed are the quarterly data of total credit in banking industry, total financing in Islamic banking industry, FFR, real GDP growth, real interest rate, exchange rate and Indonesian composite index from 2003 - 2015. To forecast the dynamic effect of the rising FFR towards financing growth in the Islamic banks, Impulse Response Function is being applied. The result from the long run estimation suggests that the Fed’s monetary policy has negative effect toward the Indonesian banking credit growth as well as the Islamic financing growth. Moreover, the estimated coefficient shows that the effect is quite low in the long run for the conventional bank and relatively high for the Islamic banks. From the short run dynamic analysis, the study reveals that the Islamic banks financing growth is mostly determined by FFR where Islamic financing growth affects Indonesian composite index and real interest rate. However, the Impulse Response Function result exhibits that the Fed’s monetary policy normalization will not affect Islamic banks financing in Indonesia.Keywords: Fed Fund Rate, Financing Growth, Islamic Banking, Indonesia, Monetary Policy
Difference Analysis of Social Performance With The Islamic Social Reporting (ISR) in Syariah Banking That Are in Indonesia and Malaysia Aprila Dwi Widayati; Raditya Sukmana
AFEBI Islamic Finance and Economic Review Vol 1, No 01 (2016)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (376.533 KB) | DOI: 10.47312/aifer.v1i01.21

Abstract

The purpose of this research is to examine the difference of Islamic Social Reporting (ISR) disclosure level of islamic banking in Indonesia and Malaysia based on ISR index. The samples were selected by purposive sampling method. The samples that is used in this research is five islamic banks in Indonesia and five islamic banks in Malaysia. This research uses secondary data, that is annual report from 2010-2012. Annual reports were analyzed using content analysis method. Furthermore, the differences of ISR disclosure level were tested using independent sample t-test. The results showed that ISR disclosure level of islamic banking in Indonesia is better than ISR disclosure level of islamic banking in Malaysia. Based on the results of hypothesis testing, found that there are significant differences in the disclosure level between islamic banking in Indonesia and Malaysia.Keywords: Islamic Social Reporting, Islamic Social Reporting Index, Islamic Banking
Shari’ah Compliances Stock Market Integration: Evidence From Indonesia and Malaysia Helma Malini
AFEBI Islamic Finance and Economic Review Vol 2, No 01 (2017)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (894.465 KB) | DOI: 10.47312/aifer.v2i01.59

Abstract

The nature of stock market integration has been an issue for almost a decade; this issue is more complicated toward Shari’ah compliance between countries since there are differences of companies screening process that can be classified as Shari’ah compliances. The differences make the integration of Shari’ah compliances stock market become a major issue in trying to answer the question whether one country can be the placed for Shari’ah portfolio diversification. This study aims to measure Shari’ah compliances integration and portfolio diversification in Indonesia and Malaysia Shari’ah compliances toward other Shari’ah compliances in the world. Six Shari’ah compliances are selected based on countries level of development and geographical factor. This studies relies on two major time series investigation techniques, namely the Auto-Regressive Distributed Lag (ARDL) approach and multi-variate Vector Error Correction Mechanism (VECM), based on the Generalized Methods of Moments (GMM). The ARDL approach is used to determine the existence of long run integration among Shari’ah compliances, while the multi-variate VECM based on the GMM is adopted to provide a robust analysis of short and long-run dynamic causal linkages among the stock markets.Keywords: Efficient Market Hypothesis, Portfolio Diversification, Shari’ah compliances Integration
The Application of Al-Ijarah Muntahiya Bi al tamlik (Financial Lease With Purchase Option) As a Financing Solution in the Sharia Non-Bank Finance Industry Bustami Bustami
AFEBI Islamic Finance and Economic Review Vol 2, No 01 (2017)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (694.873 KB) | DOI: 10.47312/aifer.v2i01.60

Abstract

To avoid buying and selling through installment (credit) that does not fall in buying and selling that contains the element of riba (that is not allowed by sharia), buying and selling through credit or bai’ al taqsit} is able to be implemented by using a pact of selling and leasing through the financing principle of Al-Ijarah Muntahiya Bi al Tamlik (Financial Lease With Purchase Option). The application of the Al-Ijarah Muntahiya Bi al Tamlik is more advantageous than the al-Murabahah pact and the interest system. Other than that it reflects the presence of the principles of justice and togetherness between the capital owner party (shahib al mal) with those that need financing.Keywords: Al-Ijarah Muntahiya Bi al tamlik, Bai’ al taqsîth, Justice, Togetherness
Economic Perspective, Cultural Perspectives, and Sharia Perspective in Revenue Sharing For Village Economic Empowerment (Case Study on Gaduh Culture in East Java) Moch. Khoirul Anwar; Hariyati Hariyati
AFEBI Islamic Finance and Economic Review Vol 2, No 01 (2017)
Publisher : Asosiasi Fakultas Ekonomi dan Bisnis Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (933.481 KB) | DOI: 10.47312/aifer.v2i01.61

Abstract

Theoretically, revenue is one of local wisdom community empowerment models which is effective nowadays. This model is based on potential and social fabric conditions of the local community. The study aims to analyze the influence of the economic perspectives, cultural perspective and sharia perspective on revenue of society’s income in East Java.This study uses a mixed methods study, with a qualitative and quantitative approach. The population and samples are the society in Blitar, Jombang, and Madiun. The result of the qualitative analysis showed that there are three (3) models of implementasion in cow-calf lease agreement (gaduh) and share farming (paron) system. The first model implements profit sharing system by taking maintenance cost into account. The second model implements sharing system as well but it takes farming workers in the deficit of profit cost into account. The revenue that is based on profit sharing is still in 50:50. While the third model uses revenue sharing system without taking administration and workers cost as the cost component. However, the revenue proportion becomes 75:25. Those models are reviewed from shariah perspective, economic perspective and cultural perspective. From quantitative analysis showed that economic perspective has bigger influence.Keywords: Economic Perspectives, Mixed Method, Profit Sharing, Revenue, Shariah Perspective