Garuda - Garba Rujukan Digital

Article Per Year (5 Year)

All

Global Review of Islamic Economics and Business

grieb
Website

Published by Universitas Islam Negeri Sunan Kalijaga Yogyakarta

ISSN : 23387920 EISSN : 23382619 DOI : -

Core Subject : Economy,

Economics, Econometrics & Finance

The scope or coverage of this International journal will include but are not limited to: Islamic Economics, Islamic Business, Islamic banking, Islamic capital markets, Islamic wealth management, Issues on shariah implementation/practices of Islamic banking, Zakat and awqaf, Takaful, Islamic Corporate Finance, Shariah-compliant risk management, Islamic derivatives, Issues of Shari`ah Supervisory Boards, Islamic business ethics, Islamic Accounting, Islamic Auditing.

Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)

Articles 135 Documents

1 2 3 4 5

An Exploratory Study of Shari'ah Issues in the Application of Tabarru' for Takaful M. Mahbubi Ali; Rusni Hassan; Shabana M. Hasan
Global Review of Islamic Economics and Business Vol 1, No 3 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Takaful industry has witnessed an exponential growth across the world over the last decade, demonstrating an enormous demand for takaful products ranging from short-term general takaful to long-term family takaful. It has attracted considerable attention not only from the Muslim countries, but also from the non-Muslim countries. Despite its promising growth, however, the takaful industry continues to face numerous contentious Shari'ah issues. The present study aims to discuss some of the most fundamental Shari'ah issues in takaful, namely the issue of applying tabarru' concept in takaful and the issue of underwriting surplus of tabarru' fund.

Islamization of Monetary Policy of 27 OIC Muslim Countries in Asia: The Successes, The Barriers and The Future Directions Basharat Hossain
Global Review of Islamic Economics and Business Vol 7, No 2 (2019)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

The Islamization of banking, monetary policy, and the financial system began in 1975 after the setup of the Islamic development bank (IDB). Firstly, this paper discusses a concise framework of Islamic monetary policy. Then it presents the success and obstacles of the Islamization process of the monetary policy among the 27 OIC member Muslim countries in Asia and provides future directions to enhance the Islamization process. This paper employed secondary data and used the three criteria to measure the Islamization process: 1) Islamization of commercial banking; 2) making Islamic banking guidelines & regulations; 3) innovation and starting the Islamic monetary policy instruments. This paper finds that more than 154 Islamic commercial banks are operating under the Conventional monetary policy in 23 countries with very few Islamic monetary tools. On the contrary, Iran follows full-pledged Islamic monetary policy with 30 Islamic commercial banks. More precisely, in these countries, only 17% of total banks are Islamic bank, whereas 83% are still interest-based banks. Regrettably, two countries (Turkmenistan and Uzbekistan) do not have any tools of Islamic monetary policy. This paper also finds that though 64% of Islamic banks were established during 1970-2000 periods in 27 countries, only 25% of countries prepared Islamic banking regulation at this period. On the other hand, 75% of Islamic banking regulations were made during 2000-2015 periods. Most common Islamic monetary instruments are project-based Sukuk, project-based debt instruments, etc. Finally, this paper recommends six steps to enhance the Islamization process.

The Relation Between Minimum Wages and Poverty in Indonesia: An Islamic Perspective Ahmad Syarif; Wahyu Hadi Wibowo
Global Review of Islamic Economics and Business Vol 5, No 2 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

This study is part of Islamic economics research that aims to determine the relationship between the minimum wage and poverty rate in Indonesia, especially case studies in West Java, Central Java, East Java, Special Region of Yogyakarta, and Banten during the period 2007-2013. In addition to the primary independent variable, there are six control variables are used, the level of education, the GDP per capita, unemployment rate, inflation rate, average wages and economic growth. The analysis technique used in this study are Arellano Bond Dynamic GMM (Generalized Method of Moment). The results of this study found that the minimum wage is not a significant effect on poverty levels in 2007-2013, especially in the districts/cities in West Java, Central Java, East Java, Special Region of Yogyakarta and Banten. Based on the explanation above, it can be concluded that government has responsibilities and sufficient role to reduce poverty through minimum wage standardization, the state also has responsibilities to create social security, both for those who are unable to work, informal workers and vulnerable workers, so that the level of wages (income) they can meet any basic needs according to Ibn Hazm include food, clothing, health, education and housing.

Measuring The Efficiency of Pesantren Cooperatives: Evidence in Indonesia Solihah Sari Rahayu; Aam S. Rusydiana
Global Review of Islamic Economics and Business Vol 6, No 2 (2018)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

The Cooperative (Koperasi) as a non-Bank financial institution has the purpose of improving the welfare of its members as Koperasi Hidmat and the staffs of Latifah Mubarokiyah Koperasi Ponses Suryalaya that have been since decades ago. Over time, the ideal cooperative can show a significant development and increase the welfare of its members. This study aims to determine the efficiency of cooperative as a benchmark, because by known the performance value of a cooperation, it will known the weeknesses and advantages so that it can be improved the weaknesses and maintain the advantages.The method used is apply Data Envelopment Analysis (DEA). Inputs used from principal savings, mandatory savings, and fixed assets while the output used from savings in the cooperative, savings in other cooperative and SHU. As for result of this research indicates there are 9 perfect efficient DMUs (100 %) and inefficient DMU is 11 DMUs, consisting of 7 (IRS conditions) and 4 (DRS condition). The most inefficient cooperative is Koperasi Hidmat (2014) of 30.66% efficiency level.Kopkar IAILM is able to maintain its grade efficiency level from 2009 to 2015 when compared to other DMUs cooperatives in the observation, except in 2014. The calculation of efficiency level in this research is relative and it is not absolute, so that it is possible when the cooperative sample is added or the observation year is expanded, so it will get different result. The necessity of any cooperative or BMT based on Pondok Pesantren to make annual financial statements in order to increase accountability and transparency of fund management.

Framing Information and its Impact on Saving Decision in Conventional and Sharia Banks: Experimental Study of Students of the Faculty of Islamic Economics and Business in Yogyakarta Ipuk Widayanti
Global Review of Islamic Economics and Business Vol 3, No 1 (2015)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Islamic and Conventional Banks in delivering information of margin in saving product have different ways. Islamic bank uses “nisbah” while conventional bank uses interest. Both have different words and disclosure but in the nominal calculation of nisbah and interest is same, because Islamic bank uses Profit Equilization Reserve which the function is as allowance, and to simply it, Islamic banking informs that to consumer as Equivalent Rate. By using Attribute Framing and Risky Choice Framing this research aims to test the information frame of nisbah and interest and it influences on saving decision making. Quasi Experiment Model is used with 49 students of Islamic Economic Studies as subject of experimental group and 20 students of other studies except Islamic Economic as subject of control group. Experimental design of this research is between subject 2X2 by using 2 cases and Random Assignment technique. Two Way ANOVA is used as analitical tool. The result of this research is when information of margin is framed in gain domain/positive frame and loss domain/positive frame subject decision in saving is less risky while when information of margin is framed in gain domain/negative frame and loss domain/negative frame subject decision in saving is risk seeking. The largest framing effect is on the certain/probability (gain domain/positive frame) and the smallest effect is on uncertain/presentation (loss domain/negative frame).

Significance and Key Challenges in Conducting Stress Testing for Islamic Commercial Banks Jamshaid Anwar Chattha
Global Review of Islamic Economics and Business Vol 1, No 2 (2013)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

With the current cross-border growth in Islamic finance, Islamic commercial banks (ICBs) are looking forward to being perceived as an industry in the process of becoming mature. This would require the establishment of some basic infrastructure, including sophisticated risk management tools that enhance the soundness and resilience of the ICBS. This paper focuses on the latter that is the role and significance of stress testing as a risk management tool. The stress testing has become part of the regulatory and supervisory authorities within the financial stability analysis. The global financial crisis (2008) has placed the spotlight squarely on stress tests. Though, ICBs operate within the similar financial environment, and their balance sheet composition, however, calls for different treatment in stress testing. Apart from the specificities of ICBs, there are key issues and challenges that should be given due considerations in developing an appropriate stress testing regime. This paper explores key specificities and challenges. The paper argues that in the beginning, conducting the stress testing may not appear a simple task for the ICBs. However, a proper consideration to the challenges identified in the paper would certainly tend to improve the overall effectiveness and credibility of the stress testing programmes.

Measuring Efficiency of Life Insurance Instution in Indonesia: Data Envelopment Analysis Approach Aam S. Rusydiana; Taufiq Nugroho
Global Review of Islamic Economics and Business Vol 5, No 1 (2017)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

This study aims to measure the level of efficiency of the life insurance industry in Indonesia. The calculation of the efficiency level in this study is relative, not absolute. The approach used is Data Envelopment Analysis (DEA). There are 8 research objects: Prudential, BNI Life, PaninDai-IchiLife, Asuransi Jiwasraya and Life Insurance Adisaranan Wanaartha, Takaful Takaful Insurance, Amanahjiwa Giri sharia insurance and Al-Amin sharia life insurance. This study consists of three input variables (cost of Commissive (X1), Operational Cost (X2), Total Equity (X3) and 2 output variables (Premium) (Y1) and Investment Revenue (Y2)). The results explain that there are 15 perfectly efficient DMUs (100%). And an inefficient of 24 DMU, consisting of 7 DMU conditions IRS and 17 DMU with DRS conditions. Of all the DMU observed, Prudential insurance is a life insurance company that is able to maintain its gradual efficiency level from 2013 to 2016 when compared to other life insurance in this observation. In general, the main factor inefficiency of life insurance industry in Indonesia (in observation) from 2012 to 2016 is from the output side. To be more efficient then life insurance companies should increase the value of premiums by 91% and investment income of 8%.

The Effectiveness of Zakah, Infaq, Sadaqah (ZIS) Management by BAZDA to Improve the Welfare of Society in Central Java Heru Sulistyo; Budhi Cahyono
Global Review of Islamic Economics and Business Vol 2, No 2 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

The big potential of Zakah, infaq, and Sadaqah (ZIS) in Central Java is one of the instruments for reducing poverty and improving the welfare of the society. This study aims to assess the effectiveness of management ZIS optimally so as to make a significant contribution to poverty reduction and improved well-being. Regulation No. 23 of 2011 on the management of Zakah has provided the legal basis which is very strong in the management of Zakah, by collecting, distributing, and accountability of it.The unit of analysis in this study is the Bazda in Central Java Province. The sample is four districts/cities, including: the city and regency of Semarang, Jepara and Demak district. In addition, the study respondents aremanagers of Bazda, muzzaki, and mustahik in four districts/cities.The findings show that all Bazda have already had database on muzaki and mustahik, but still incomplete, so it cannot be done for the sake of collecting and mapping the distribution of ZIS effectively and efficiently. Moreover, the condition of the building, infrastructure and operational funds sourced budgets have not been able to support the operations and performance of the collection, distribution and reporting effectively and efficiently. Distribution and utilization of ZIS is dominated for the fulfillment of consumer needs and focused on the areas of health, education and social, while, empowering productive business activities is still slightly low, so that it is necessary to have a paradigm shift in the management of the ZIS to make mustahikbecome more productive. It is required a coordinated and integrated cooperation between Bazda District/City, Baz Districts, the regency/state, enterprises, SOEs and private agencies in order to collect ZIS effectively and efficiently and not only dominated merely by the civil servants. Reporting and accountability system, so far, has been conducted in a transparent and accountable through a written report to the District / City Government and Parliament, but some Bazdado not provide it to mustahikin detail, either in book form or through the WEB. Only the district of Jepara which has a complete reporting system, regular, detailed and printed in book form to be sent to the Government, Parliament, and the muzaki of related parties.

Syariah Compliance Stock: Current Issues and The Way Forward M. Yazid Afandi
Global Review of Islamic Economics and Business Vol 4, No 1 (2016)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Shariah compliance stock shows promising growth in Islamic finance industrty in the last three decades. It can be seen from the number of company listed in the Islamic capital market, issued by shariah committe. To be categorized as shariah compliance stock, stock screening will be conducted in ensuring that all company activities comply to shariah standard. The objective of this paper is to describe the shariah standar of stock screening in accordance with fiqh concept. In addition, this paper also illusterate some practice of stock screening in many countries. By conducting library research, this study found that shariah standard applied in stock screening is fully based on shariah and doesnt contravene with fiqh concept. Moreover, the practice of stock screening, still shows some differences which is affected by the difference of Islamic finance model.

The Foundations of Islamic Finance: Appraising the Approaches and Challenges Hafas Furqani; Nazaruddin A. Wahid
Global Review of Islamic Economics and Business Vol 1, No 1 (2013)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

The emergence of Islamic finance as a system of thought and practice is timely in the midst of world crisis and the uncertain proposals for solving it. It is hoped that Islamic finance could offer a coherent perspective for understanding real economic problems as well as a genuine alternative to the very foundations of how finance should be managed to actualize human prosperity. It is widely expected that Islamic finance will continuously evolve into a more sophisticated form and structure in the next decade. Some, however, question whether the development is moving on the right track to realize the hopes pinned on it at the time of its initial establishment. This embarks from the differences in understanding the raison d?etre of Islamic finance emergence and hence approach taken in developing the industry. In this paper we argue that Islamic finance should be directed to provide for meaningful development in thetwenty-first century, Islamic finance must realize its full potential as a system, not merely a stopgap means of surviving the crisis. It must go beyond that to provide the guidelines for managing a good economy, stimulating growth and development, realizing socio-economic justice and promoting employment and stability. It cannot limit itself to merely offering economic and financial practices that satisfy the minimum standard of legal requirements.

Page 3 of 14 | Total Record : 135

1 2 3 4 5

Filter by Year

2013 2023

Filter By Issues

All Issue Vol. 11 No. 1 (2023) Vol. 10 No. 2 (2022) Vol. 10 No. 1 (2022) Vol 9, No 2 (2021) Vol 9, No 1 (2021) Vol 8, No 2 (2020) Vol 8, No 1 (2020) Vol 7, No 2 (2019) Vol 7, No 1 (2019) Vol 6, No 2 (2018) Vol 6, No 1 (2018) Vol 5, No 2 (2017) Vol 5, No 1 (2017) Vol 4, No 2 (2016) Vol 4, No 1 (2016) Vol 3, No 2 (2015) Vol 3, No 1 (2015) Vol 2, No 3 (2015) Vol 2, No 2 (2014) Vol 2, No 1 (2014) Vol 1, No 3 (2014) Vol 1, No 2 (2013) Vol 1, No 1 (2013) More Issue

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name
Aris Munandar

Contact Email
Aris Munandar

Phone
+6282145485255

Journal Mail Official
-

Editorial Address
Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281

Location
Kab. sleman,

Daerah istimewa yogyakarta

INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Aris Munandar

Contact Email Aris Munandar

Phone +6282145485255

Journal Mail Official -

Editorial Address Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281

Location Kab. sleman, Daerah istimewa yogyakarta INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Aris Munandar

Contact Email
Aris Munandar

Phone
+6282145485255

Journal Mail Official
-

Editorial Address
Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281

Location
Kab. sleman,

Daerah istimewa yogyakarta

INDONESIA