Al-Iqtishad : Jurnal Ilmu Ekonomi Syariah (Journal of Islamic Economics)
This journal focused on Islamic law on economics and finance studies and present developments through the publication of articles. Specifically, the journal will deal with topics, including but not limited to Islamic law on Islamic Banking, Islamic Marketing, Islamic Human Resources, Islamic Finance, Zakah, Waqf, Poverty Alleviation, Islamic Public Finance, Monetary Economics, Economic Development, Maqasid al-Shariah, Institutional Economics, Islamic management, Behavioural Economics and Finance, Corporate Governance, Risk Management, Shariah issues, Financial Engineering, Securitization and Sukuk, Islamic Capital Markets, Insurance and Takaful, Regulatory Issues, Corporate Social Responsibility in Islam and other topics which related to this area. The journal is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines.
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<![CDATA[Islamic Banks Service Innovation Quality: Conceptual Model ]]>
<![CDATA[Tahreem Noor Khan]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.3161
<![CDATA[Customer perspectives and satisfaction level are considered important for analysing the performance of Islamic bank service quality. Sufficient researches has been done to explore customer perception and satisfaction level with Islamic banking service quality, however there is lack of data to compare and find the similarity in understanding the main determinant attributes needed for Islamic banking service quality. The purpose of this paper is to describe and integrate the results of existing wealth of research on service quality in Islamic banks. After weighing up all the views from existing research, common findings, concerns will be discussed. This research did not find much of information or studies indicating toward innovation in Islamic banking service quality. Thus based on review of the literature this paper suggests main key attributes of service for Islamic banks (RIBA Service IQ). This research strongly asserts that sincere motivation, truthful intention, dynamic and practical service innovation of quality approaches can uplift Islamic financial brandDOI: 10.15408/aiq.v8i2.3161]]>
<![CDATA[Islamic Prayer, Spirituality and Productivity: An Exploratory Conceptual Analysis ]]>
<![CDATA[M Ashraf Al Haq]]>;
<![CDATA[Norazlina Abd. Wahab]]>;
<![CDATA[Hj Abdullah Abd Ghani]]>;
<![CDATA[Nor Hayati Ahmad]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.3160
<![CDATA[Prayer plays a noteworthy role in Muslims daily lives. Quran and Sunnah testify that regular prayers can boost one’s health, can remove the level of stress, and may make one more productive and vigour. Such findings also noticed by medical and psychological experts, and likewise many contemporary research have shown wide-ranging outcomes in terms of improved wellbeing when prayer is done with sincere devotion. Nevertheless what is lacking is that the policy makers in the Islamic world need to initiate whether there exist any linkages between prayer and productivity, which needs to be appreciated more by them, as well as by Islamic economists and social scientists, Islamic business professionals and Islamic jurists, and then through a concerted effort and dynamic fact finding mission and verification to ascertain the Qur’anic beliefs in our daily lives. This studies using descriptive analysis to explain the linkage between the Islamic prayer and productivityDOI: 10.15408/aiq.v8i2.3160]]>
<![CDATA[Risk and Return: Bonds and Sukuk in Indonesia ]]>
<![CDATA[Ahmad Rodoni]]>;
<![CDATA[Aris Setiawan]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.3159
<![CDATA[The aim of this research is to compare the degree of risk and return of bonds with sukuk, using several calculations magnitudes, which are, yield to maturity (YTM), Macaulay's duration, and Value at Risk (VaR). The results of this study show that there is no significant difference between the YTM bonds and the YTM of emitted sukuk. Using the Macaulay’s duration formula to evaluate the duration of bonds and sukuk, the research found out that there is no significant difference in the duration of bonds and sukuk. However, the calculation and comparison of the VaR, showed a significant differences between bonds and sukuk , likewise either the comparison of the VaR of a sample group of bonds with a sample group of sukuk using k sample test. But by testing each group of the VaR of bonds sample group and sukuk sample group,the results show no significant differences.DOI: 10.15408/aiq.v8i2.3159]]>
<![CDATA[Determinant of The Corporate Environmental Disclosure: Study on Jakarta Islamic Index ]]>
<![CDATA[Yulianti Yulianti]]>;
<![CDATA[Leis Suzanawaty]]>;
<![CDATA[Zuwesty Eka Putri]]>;
<![CDATA[Ismawati Haribowo]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.3158
<![CDATA[The issue about corporate environment disclosure nowadays is increasing. This research aims to analyze the influence of firm size, leverage, proportion of independent commissioners, corporate secretary and firm age to corporate environmental disclosure. Thirteen companies that listed at Jakarta Islamic Index during 2011-2014 are used as sample. Data was analyzed using multiple regression technique. The independent variables are firm size, leverage, and proportions of independent commissioners, corporate secretary, and firma age. The result shows that simultaneously all independent variables have significant influence to corporate environmental disclosure. Whereas partially, firm size and firm age have significantly influence to corporate environmental disclosure. The implication of this research is the larger of the firm size and the longer firm will make a better corporate environmental disclosure in companies that listed at Jakarta Islamic Index.DOI: 10.15408/aiq.v8i2.3158]]>
<![CDATA[The Effect of Social Capital on Customer’s Repayment Rate at Islamic Microfinance Institution ]]>
<![CDATA[Jaenal Effendi]]>;
<![CDATA[Annisa Rindra Utami]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.2631
<![CDATA[The potency of Micro and Small Enterprises (MSEs) in Indonesia which is great, is not directly proportional to the ease of getting capital from formal financial institutions such as banks because it is not bankable. Meanwhile, microfinance institutions (MFIs) that provide financing to the MSEs are currently thriving. This condition exposes the existence of factors that cause the MFIs continuesly providing financing to MSEs which are not bankable. This research aims to analyze the effect of social capital toward the repayment rate of Islamic MFIs’ customers. The methods used in this research was the logistic regression. The results showed variable relationship with BMT employees, relations with other customers, and Islamic recitation had positive and significant effect toward the repayment rate of the customer. While recommendations, membership status, and travel time from home to the BMT had negative and significant effect. Variable outside the social capital indicator which is income rate had no significant effect.DOI: 10.15408/aiq.v8i2.2631]]>
<![CDATA[Determinants of Liquidity Risk in Indonesian Islamic and Conventional Banks ]]>
<![CDATA[Raditya Sukmana]]>;
<![CDATA[Sari Suryaningtyas]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.2871
<![CDATA[The purpose of the study is to examine the causes of the liquidity risk in Islamic and conventional banks in Indonesia using panel data regression method. The study found the significant and positive relation of ROA and NPF with the liquidity risk, whereas the negative and significant relation of CAR with the liquidity risk in Indonesian Conventional Banks. Meanwhile in Islamic banks, CAR result significantly positive effect on liquidity risk, while ROA shows negative and significant result. Possible explanation for this is that, given the huge profit by the conventional banks, it has more chance to allocate it as liquidity reserve as well as increasing the facilities (improvement on technology). When the NPL is high, conventional banks will increase the liquid assets as a buffer. Unlike that of conventional banks, the Islamic banks in Indonesia might allocate capital as liquidity reserves and might allocate ROA in fixed assets or financing or technology. The result confirm that the role of capital and bank’s performance in indeed important to the banking liquidityDOI: 10.15408/aiq.v8i2.2871]]>
<![CDATA[The Efficiency of Zakah Institutions Using Data Envelopment Analysis ]]>
<![CDATA[Aam Slamet Rusydiana]]>;
<![CDATA[Salman Al Farisi]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.2876
<![CDATA[Although social based, but in its management the Zakah Institutions need to uphold professionalism, transparency and accountability. Most recently, in the measurement of the effectiveness of the management of zakah fund, known Zakah Core Principles concept. This study would try to measure the efficiency of 3 (three) Zakah Institutions with Data Envelopment Analysis (DEA) method. Banxia Frontier Analyst 3.1 used in data calculation. The calculation of the level of Zakah Institutions efficiency in this study are relative, not absolute. The results show that there is 12 fully efficient Decision Making Unit (DMU) Zakah Institution (100% efficient) and 6 DMU inefficient. The main factor inefficiency Zakah Institution from 2007 to 2014 due to the distribution of zakah funds to ashnaf. It is still less than optimal. So it has not been able to resolve the problem of poverty. DOI: 10.15408/aiq.v8i2.2876]]>
<![CDATA[Shari’ah-Compliant E-Commerce Models and Consumer Trust ]]>
<![CDATA[Muhammad Kholifatul I Ardiansyah]]>;
<![CDATA[Yunizar Yunizar]]>;
<![CDATA[Budi Harsanto]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.2913
<![CDATA[This study is aimed at finding out the real picture of Shari’ah-compliant E-commerce model and consumer trust in e-commerce today, analyzing its drawbacks, and finding out how they influence each other. Shari'ah-compliant E-commerce model is a model that describes how e-commerce should run in accordance with the provisions of the Shari’ah. Broadly speaking, e-commerce in the perspective of Shari’ah must comply with some rules, namely: 1. the form of the offer and transaction agreement; 2. the transacting parties (buyers and sellers); 3. Objects and prices in the transaction; 4. Free from major prohibitions in transactions. The sample in this study is Indonesian citizen who are consumers of e-commerce. This research uses descriptive and statistical methods with multiple linear regression model. This model is considered relevant and good to be studied in order to enlighten how e-commerce is currently in the perspective of IslamDOI: 10.15408/aiq.v8i2.2913]]>
<![CDATA[Effectiveness of Zakah Targeting in Alleviating Poverty in Indonesia ]]>
<![CDATA[Rahmatina A Kasri]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.3005
<![CDATA[Zakah is a unique Islamic institution targeted to eight groups of recipients with the aim to redistribute income, reduce poverty and achieve social welfare. However, the impacts and effectiveness of zakah targeting in reducing poverty is rarely measured. This is the main objective of the study. To achieve it, a survey was conducted to collect primary data from zakah recipients in Greater Jakarta Indonesia. The data were subsequently analysed by using descriptive and poverty index analyses. The main results suggest that the incidence, depth and severity of poverty amongst the recipients have decreased due to the contributions from zakah organizations. There are also indications that zakah has been distributed to the most disadvantaged people such as the uneducated and unemployed. The findings provide empirical evidence regarding positive contribution and effectiveness of zakah targeting in reducing poverty in Indonesia. Some policy implications of the findings are also highlighted to enrich discourses on the role of zakah in alleviating poverty in Muslim societies.DOI: 10.15408/aiq.v8i2.3005]]>
<![CDATA[The Patronage Behaviour of Islamic Bank’s Customers: Empirical Studies in Aceh ]]>
<![CDATA[M. Shabri Abd. Majid]]>;
<![CDATA[Said Zulhanizar]]>
<![CDATA[ Al-Iqtishad: Jurnal Ilmu Ekonomi Syariah Vol 8, No 2: July 2016 ]]>
Publisher : <![CDATA[Faculty of Shariah and Law, UIN Syarif Hidayatullah Jakarta ]]>
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DOI: 10.15408/aiq.v8i2.3139
<![CDATA[This study is aimed at empirically exploring the pertinent factors, which customers and non-customer perceive as germane to their selection of Islamic bank in Aceh, Indonesia. A sample of 300 customers and non-customer of Bank Aceh Syariah were selected based on the convenience sampling technique. Using the logistic regression technique, the study documented that the customers’ selection of the banks were influenced by the factors of banks’ characteristic, services and trust, shari’ah compliance, and physical objects. Of these factors, banks’ characteristic and shari’ah compliance were found to be the most pertinent factors perceived by the customers and non-customer to their selection of Islamic bank in Aceh, Indonesia. These findings imply that to attract more customers, the Islamic bank should enhance their unique characteristics and products’ compliance.DOI:10.15408/aiq.v8i2.3139]]>
