International Journal of Islamic Economics (IJIE)
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.
Articles
62 Documents
<![CDATA[CONTROVERSY ON RIBA PROHIBITION: MAQASHID SHARIAH PERSPECTIVE ]]>
<![CDATA[Muhammad Iqbal Fasa]]>;
<![CDATA[Itsla Yunisva Aviva]]>;
<![CDATA[Yayan Firmansah]]>;
<![CDATA[Suharto Suharto]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 1 No 02 (2019): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v1i02.1804
<![CDATA[Riba is one of debated issues in modern times. Although the Qur'an forbids Riba, there are still Muslim scholars who are debated on the operational definition of Riba. Differences in opinion can be found in the repertoire of fiqh and tafsir al-Qur’an pre-modern and modern. Naturally, the debates are often influenced by the particular sociological context. There is existing view which distinguishes bank interest with usury, thus implies the permissibility interest rate in financial transactions. Prohibition of Riba, from the perspective of maqashid syariah, is based on moral considerations and humanity. It is because the essence of the prohibition is to eliminate of all forms of injustices and unfairness in economic practices. The method of this paper is based on literature review by reviewing in-depth the books, commentaries and writings on maqashid sharia, interest rate transaction, and usury.]]>
<![CDATA[Testing Efficiency of Sudan’s IslamicBanks for Funding Socio-Economics Development using World Rankings Indices ]]>
<![CDATA[Omer Allagabo Omer Mustafa]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 4 No 01 (2022): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v4i01.4854
<![CDATA[Islamic banks(IBs) are based on Sharia principles, which call for attention to human development. Islamic modes of finance (Murabaha, Musharaka, …etc.) enables IBs to achieve socio-economic development through financing real projects compared to the conventional ones based on interest lending. The study aims to measure the efficiency of Sudan’s IBs in financing socio-economic development using world rankings indices(WRsIs). The methodology took banking finance as an independent variable while socio-economic development was the dependent variable. Socio-development was measured by WRsIs including human development, press freedom, political rights, civil liberties, and prosperity. Economic development was measured by GDP growth and GDP per capita. Data covering (2011-2021) was collected from the Central Bank of Sudan (CBOS) and World Economic databases. The ordinary least squares method was used to estimate the nexus between variables. The results concluded that except for political rights, the rapid growth of banking finance (11% in 2011 to 43% in 2021) does not significantly positively influence socio-economic development. Because more50% of finance was provided through Murabaha (high return and low risk) but it doesn’t stimulate economic development. The study recommends the CBOS revise policies and practical frameworks of IBs to enhance social dimensions as well as WRsIs.]]>
<![CDATA[Hyperbolic Discounting in Fiscal Policy: The Case of Malaysian Government Budget ]]>
<![CDATA[Putri Swastika]]>;
<![CDATA[Azura Othman]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 1 No 01 (2019): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v1i01.1571
<![CDATA[Thispaper examines the lag effect of interest payments on the national output represented by GDP. The lag effectimplies the observation of hyperbolic discounting in the fiscal policy. The idea is round-eyed;that the government takes on high debts to finance their spending while not factoring or placing less importanceon the cost of the interest payments. The concept of hyperbolic discounting of behavioral economics is used in this paper to explain this phenomenon in the present path of public policy which operates under an interest-based system. We conduct this analysis by examiningthe present fiscal model and its effect on the economy, wherein debt is preferredin fiscal policy framework.It appears from the findings that the trend in Malaysia’s fiscal policy shows the presence of hyperbolic discounting.Shifting the debt burden to future governments and spending above revenue capacity can be seen as a manifestation of the common pool problem. Two main policy recommendations can be made. Firstly, the fiscal policy structure has to move away from the current interest-based borrowing. This is because an intrinsic feature of the interest-based system is that the risks of a debt transaction are transferred from the lender to the borrower.Secondly, the current tax structure can be simplied to improve tax compliance so as to improve tax revenue collection.Both the above policy recommendations have the potential of reducing the effect of hyperbolic discounting. The first increases the interaction between the government and the public thus enhances the governance structure of the government. The government will have to be more transparent in its dealing as the public has a vested interest in the development projects. The second enhances the first effect by providing a potential increase in tax revenue which will reduce the stress on debt servicing and the need for borrowing.]]>
<![CDATA[The Bank Lending Channel in Dual Banking Systems: How Market Power Shapes Monetary Policy Effectiveness ]]>
<![CDATA[Kinan Salim]]>;
<![CDATA[Moutaz Abojeib]]>;
<![CDATA[Wajahat Azmi]]>;
<![CDATA[Mhd Osama Alchaar]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 5 No 02 (2023): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v5i02.8057
<![CDATA[This paper investigates the effectiveness of the bank lending channel as a mechanism for monetary policy transmission in dual banking systems. Using generalized method of moments (GMM) estimators, we examine how market power and the presence of Islamic banks influence the bank lending channel. Our empirical results reveal that the effectiveness of this channel is conditional on the degree of market power. Specifically, we find that increases in interest rates are effective in altering bank lending only when the Lerner index, a measure of market power, reaches the threshold of 0.35. This suggests that the bank lending channel is only effective in markets with lower to average levels of competition (i.e. high market power). Additionally, we identify unique characteristics of Islamic banks that warrant further research for a comprehensive understanding of their role in the bank lending channel. Our study has important policy implications, particularly for emerging economies and dual banking systems, where regulatory measures may need to consider the intricate balance between market competition and effective monetary policy]]>
<![CDATA[The Circular Economy of the Islamic Group Lending Model: Lending Money for Garbage in Return ]]>
<![CDATA[Yaser Taufik Syamlan]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 2 No 02 (2020): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v2i2.2580
<![CDATA[The Model of Group Lending has been flourishing in the Microfinance Industry. This model has been used widely in the world to serve the needy and un-bankable group of people by lending money plus interest addition. In Islamic finance also embrace this model by omitting the interest and applying the Qardul Hassan to finance the members so that they can fulfill their daily need. The problem of this divine scheme is the sustainability of the microfinance since they have a burden to bare the operational cost due to the non – interest feature of the financing. This paper tries to solve this problem by utilizing the household garbage as the media to repay the Qardul Hassan financing to the Islamic Microfinance Institution (IMFI) so that it can be processed by the IMFI to create more added value product, selling it to get more income and achieving the organization sustainability.]]>
<![CDATA[english English ]]>
<![CDATA[Nur Syamsiyah]]>;
<![CDATA[Misfi Laili Rohmi]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 3 No 02 (2021): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v3i2.3824
<![CDATA[Islamic banks collect funds from the public and then send them for financing as an intermediary institution. In practice, the distribution of financing, which is the main characteristic of Islamic banks, is not as easy as the existing theory. This study will discuss the short-term and long-term effects of inflation, financing, and financing problems on deposit ratios in Indonesia's Islamic banking deposits. This study uses an Error Correction Model with monthly time series data starting from 2019-2020. The results show that all variables significantly affect deposits in Islamic banking in Indonesia in the long run. Meanwhile, in the short term, the inflation and financing variables significantly affect Islamic banking deposits in Indonesia, and the Financing to Deposit Ratio has no significant effect.]]>
<![CDATA[Quick Response Code Indonesian Standard (QRIS) In Terms of Maqashid Sharia ]]>
<![CDATA[Raditio Wahid]]>;
<![CDATA[Muhammad Hanafi Zuardi]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 5 No 01 (2023): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v5i01.7371
<![CDATA[This research discusses technological developments in the economic field. Quick Response Code Indonesian Standard is a tool used to transact through digital technology, in the muamalah point of view, every development must be carried out a legal determination that can be used as a basis for its use. The determination method used in Islamic economics is Maqashid Sharia by weighing the benefits and harms in an object, therefore this study aims to analyze the use of Quick Response Code Indonesian Standard in review of Maqashid Sharia. This research uses qualitative methods with the type of library research that is analyzed maslahah mursalah. In this study it is known that the use of Quick Response Code Indonesian Standard (QRIS) contains benefits. These results are in line with the concept of maqashid sharia whose main goal is benefit, avoiding harm to all people, prioritizing the objectives of shara', not contradicting the Qur'an and sunnah.]]>
<![CDATA[Problematics of Mudharabah Financing at PT BPRS Aman Syariah Lampung ]]>
<![CDATA[Dian Puspitasari]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 4 No 02 (2022): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v4i02.6074
<![CDATA[This article describes how the problems faced by management in the implementation of mudharabah financing at BPRS Aman Syariah Lampung. The research method used is a qualitative research method in which the primary data is obtained from the results of interviews conducted with the leadership and stakeholders of Islamic banks. And then the data will be analyzed using content analysis. The results of this study indicate that there are several problems faced by Islamic bank management when deciding to apply mudharabah financing. Mudharabah is the only contract that uses the principle of profit sharing. However, this problem arises when the fact is that this financing is not very attractive to customers. Ideally, profit sharing is a mechanism that dominates products in Islamic banks. But in reality, the profit sharing mechanism does not show a high enough percentage, it even tends to be low. The cause is the high level of risk in mudharabah financing. From the customer side, there are customers with moral hazard, lack of transparency when providing financial reports to the bank. This results in the amount of profit sharing distributed which tends to be flat and not in accordance with the portion it should be. This happens because of the low level of honesty on the part of the customer so that it damages the mudharabah financing contract from both parties.]]>
<![CDATA[RISKS AND REMEDY IN ISLAMIC AND CONVENTIONAL LETTER OF CREDIT: JORDANIAN PRACTICES ]]>
<![CDATA[Emad Mohammad Al amaren]]>;
<![CDATA[Mohd Zakhiri bin Md. Nor]]>;
<![CDATA[Che Thalbi Bt Md. Ismail]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 2 No 01 (2020): International Journal of Islamic Economics ]]>
Publisher : <![CDATA[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
<![CDATA[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.]]>
<![CDATA[The Effect of Accountability and Transparency on Interest in Paying Zakat at the National Amil Zakat Agency of Buton Regency With Religiosity as a Moderation ]]>
<![CDATA[Lestari Rezki Nurul Amalia]]>;
<![CDATA[Haliah Haliah]]>;
<![CDATA[Nirwana Nirwana]]>
<![CDATA[ Jurnal Internasional Ekonomi Islam Vol 6 No 01 (2024): International Journal of Islamic Economics (IJIE) ]]>
Publisher : <![CDATA[The Postgraduate of Institut Agama Islam Negeri Metro Lampung ]]>
Show Abstract
|
Download Original
|
Original Source
|
Check in Google Scholar
|
DOI: 10.32332/ijie.v6i01.9199
<![CDATA[Introduction: The Buton Regency National Zakat Amil Agency has the potential to pay zakat by increasing accountability, transparency, and religiosity which can be a factor in advancing the level of community welfare. Objectives: This research aims to determine the effect of accountability and transparency on interest in paying zakat and the relationship between religiosity as moderation in strengthening the influence of accountability and transparency on interest in paying zakat. Method: This research was conducted quantitatively and used a questionnaire as a data collection method. The subjects of this research were 150 muzakki BAZNAS (National Amil Zakat Agency) located in Buton Regency. The data analysis method uses Structural Equation Models with Partial Least Square (PLS). Results: The research results show that accountability and transparency regarding interest in paying zakat have positive and significant results. This research also proves that accountability and transparency on interest in paying zakat are significant with religiosity as a moderating variable that strengthens the influence of accountability and transparency on interest in paying zakat. Implications: These results contribute to the development of a model in research that accounting and transparency in zakat institutions with religiosity as moderation can influence interest in paying zakat.]]>
