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ANANTO TRIWIBOWO
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ananto112793@gmail.com
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Desa Banjarrejo Dusun Cempaka RT/RW 020/001
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International Journal of Islamic Economics (IJIE)
Published by Institut Agama Islam Negeri Metro Lampung
ISSN : 26862131     EISSN : 26862166     DOI : https://doi.org/10.32332/ijie.v6i01
Core Subject : Economy,
Economics, Econometrics & Finance
International Journal of Islamic Economics accepts manuscripts whose topics are in range of economic fields and employs standard economics analysis tools focusing on issues pertaining to Philosophy of Islamic Economics, Islamic Economic Thought, Islamic Economics and Contemporary Issues and Islamic philanthropy (zakat, waqf, sadaqah, and infaq). The topics might be an observation of current economic phenomena that highlights the problem of conventional economic system.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 6 Documents
 1 
Search results for , issue "Vol 2 No 01 (2020): International Journal of Islamic Economics" : 6 Documents clear
THE ROLE OF ISLAMIC FINANCIAL INSTITUTIONS IN SOCIAL INTERMEDIARY SERVICES : EVIDENCE IN METRO CITY Fitri Kurniawati
Jurnal Internasional Ekonomi Islam Vol 2 No 01 (2020): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v2i01.2309

Abstract

Islamic financial institutions are expected to be able to implement their roles as financial intermediaries and social intermediaries. But what happened in the city of Metro, the dominance of the contract on the practice of Islamic financial institutions only felt the benefits for the upper middle class. Besides that, innovative products that have not been able to reach the majority of the community are not optimal yet, where in the aggregate most of them are Muslims. So that the presence of Islamic financial institutions is considered the same as conventional, because it has not been able to answer the fundamental problems of society. Due to the limitations of researchers, the Islamic financial institutions that will be examined in this study are some Baitul Maal Wat Tamwil in Metro City. This research was conducted to analyze the strategies, procedures and product development of Islamic financial institutions in their role of social intermediation. Research is a field research with a descriptive analytical approach. Data collected using interview and documentation methods. Primary data was obtained from Islamic financial institutions (BMT) as social intermediaries in the community, namely the management and members of BMT. Secondary data were obtained from journals, research reports, books and articles. The analysis technique begins with data collection and reduction, data presentation and conclusion drawing. The results of this study are the role of Islamic financial institutions in social intermediation, namely as an intermediary that connects the aghniya and dhu'afa. The implementation procedure does not directly get commercial financing, but educational services using the tabarru agreement 'with social funds. Product development strategy, namely: establishing a special division in Islamic financial institutions and collaborating with social institutions around.
CHALLENGES FACING MALAYSIA IN EXPANDING ITS ISLAMIC FINTECH LANDSCAPE & POSSIBLE REMEDIES Kinan Salim; Abubakar Ilyas
Jurnal Internasional Ekonomi Islam Vol 2 No 01 (2020): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v2i01.2250

Abstract

Despite being a dynamic hub for the Islamic financial products and services, Malaysia’s Islamic fintech landscape does not meet expectations. With a number of challenges such as stringent regulations, lack of adequate funding, shortage of a skilled workforce, fierce conventional competitors etc. the future growth and progress might only remain an unfulfilled dream if they are not addressed timely. This paper is aimed at critically discussing these challenges faced by such companies. Also it aims at proposing potential measures to overcome the highlighted issues. But in order to validate the mentioned challenges and the potential remedies, an interview based approach is employed. The top and middle management of five full-fledged Islamic fintech companies were interviewed with the aim of ensuring whether the mentioned challenges actually exist or not. And whether the proposed solutions are practicable. Based on the findings from the interviews, it is observed that almost all the mentioned challenges are recognized by the companies. Although not all were in consensus regarding every issue, but in general they saw the challenges as legitimate. The proposed solutions were also well received and recognized as beneficial for the companies. Another finding from the interviews was additional challenges the companies saw as worrisome, such as lack of awareness and technological ignorance among the masses. The paper concludes with the recommendation for the relevant authorities to address the highlighted issues with seriousness. Further research may be carried out to provide solutions for the additional issues pointed out by the companies
MODERATING ROLE OF SHARIAH COMMITTEE QUALITY ON THE RELATIONSHIP BETWEEN AUDIT COMMITTEE AND MALAYSIAN TAKAFUL PERFORMANCE Monther Eldaia; saddam ali shatnawi; mustafa Mohamad Hanefah; Ainulashikin Binti Marzuki
Jurnal Internasional Ekonomi Islam Vol 2 No 01 (2020): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v2i01.2031

Abstract

The moderating effect of Shariah Committee Quality (SCQ) on the relationship between Audit Committee (AC) characteristics and Malaysian Takaful performance remains a challenge that is yet to be resolved. Malaysia plays a leader role in Muslim countries in Islamic Finance especially in Takaful industry and Shariah committee roles and duties. AC characteristics have a significant effect on corporate financial performance. The fundamental AC role is to supervise the corporate’s financial reporting practice, review of financial reports, auditing practice, internal accounting controls, and risk management practices. AC characteristics plays a crucial role in the overall Malaysian Takaful companies which is supposed to enhance financial performance. Hence, SCQ as part of the internal governance structure and control body of the institution, thereby, ensure Shariah compliance in all transactions and activities, and enhancing the credibility of institutions in the eyes of its shareholders and customers. SCQ can potentially moderate the relationship between AC and Malaysian Takaful performance. As an important mechanism of Corporate Governance (CG), In addition, agency theory and stewardship theory were used to develop the hypotheses. Several results of the previous literature were found fraternized, and inconsistent regarding the SCQ effect on firm performance or its effect on AC characteristics in general context, while the literature on Malaysia context remain scarce. It is expected that this SCQ moderation may considerably improve corporate performance by determining the strength or weakness of the relationship between AC characteristics and firm performance. Therefore, this paper conceptualized that ‘SCQ’ moderates the relationship between AC Chairman Specialization, Shariah Background, AC Independence and Meeting frequency, and Malaysian Takaful performance.
MONEY IN ISLAM: A SOCIAL CONTRACT PERSPECTIVE Alam Asadov
Jurnal Internasional Ekonomi Islam Vol 2 No 01 (2020): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v2i01.2025

Abstract

Money being the blood of economy and main determinant of many human transactions is an important topic to be discussed. Throughout the history there have been many who tried to explain nature and desired form of money in their writings. This topic has not skipped writings of Islamic religious scholars and economists as well. Current work attempts to review some of recent literature about essence of money from Islamic prospective. The review works which express different views from both Religious and Economic perspectives by six selective authors with diverse backgrounds. In the review, we mainly focus at the role of money as a social contract (between State and its citizens) and at some Shari’ah compliance issues faced by commodity (gold and silver) and paper (fiat) currencies. Some of our important findings show that the commodity currency had problem of breach from State’s side in some occasions, while paper currency is considered as an invalid contract by majority of the authors. The work concludes with summary of the authors’ opinions and points out their relative strengths and weaknesses from Shari’ah and Economic prospective, which is extended with some recommendations for further research.
RISKS AND REMEDY IN ISLAMIC AND CONVENTIONAL LETTER OF CREDIT: JORDANIAN PRACTICES Emad Mohammad Al amaren; Mohd Zakhiri bin Md. Nor; Che Thalbi Bt Md. Ismail
Jurnal Internasional Ekonomi Islam Vol 2 No 01 (2020): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v2i01.2065

Abstract

International trade and the movement of goods between parties living in different countries have spread in the last century and have become one of the fundamental features of the current trade. This proliferation of international contracts, of course, has its own problems. The problems of external Islamic or conventional letters of credit affect export, since letters of credit are considered a valuable tool used in financing foreign trade operations. Therefore, the problems faced by exporters in letter of credit reflect on and impact trade in general. Thus, the fewer the credit problems are, the more active foreign trade especially export will be. But if problems are relatively large, exports will contract. This study attempts to identify the problems of external and internal letters of credit facing the Jordanian traders and Jordanian Islamic and conventional banks, and to analyze them in an organized scientific manner, then proposing the appropriate recommendations to address these problems.
THE ALTERNATIVE ISLAMIC PRICING BASED ON NATURE OF BUSINESS Rachmawaty Rachmawaty
Jurnal Internasional Ekonomi Islam Vol 2 No 01 (2020): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v2i01.2003

Abstract

The contradictive of using interest rate as Islamic Pricing Benchmark (IPB) has been discussed among scholars. A lot of alternatives has been offer by scholars but the implementation is based on market choice which are the competitive pricing of interest rate and the advantage of majority share of conventional financing. In this paper there will be 3 objectives; first to give information of literatures review for some alternatives that already offer by scholars, second is to give information about pro and cons of using interest rates as the benchmark of cost of fund for Islamic Financial Institutions and the final objective is what author’s opinion and what kind alternative that author will provide based on literature review and author’s logic sense. The alternative IPB will be explained in this paper is based on nature of business, which will be categorized as IPB for debt financing, equity financing and combine financing. To implement IPB there are some infrastructure that will need to adjust in order to create fair environment such as educate customer and change the behaviour of customer to choose financing product, to change the role of bank and to see the paradigm of cost of statuary reserve requirement in central bank.

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