AL-IQTISHAD : JOURNAL OF ISLAMIC ECONOMICS

10

Authors: Wiwiek Rabiatul Adawiyah

The aim of this research is analyze the state of efficiency demonstrated by foreign banks, as aggressor, as compared to that of the local banks – government banks and Islamic banks during the period 2009-2012. Data Envelopment Analysis (DEA) with intermediation approach is used as the main tool of analysis. Input variable chosen are deposit, asset, and personnel expenses. Meanwhile loan and income are chosen as output variable. To find out the difference of efficiency between foreign banks and islamic banks, this study use parametric different test of Independent Sample T-test. The study indicates that foreign banks are less efficient if compared to the local banks, especially Islamic banks and Sharia Business Units. It is also evidenced that there is no significant difference between the efficiency of foreign and Islamic banks during the period 2009-2012.

10

Authors: Rizky Andriati, Nurul Huda

The purpose of this study was to determine the influences of productive zakah mentoring to the saving attitude, the confidence of saving ability, the saving behavior and the prosperity of poor housewives which become partners of Masyarakat Mandiri Dompet Dhuafa. This is a quantitative research using Structual Equation Modelling. The respondents are 115 poor housewives in Parung, Bogor, West Java; Cipinang, East Jakarta; Tanjung Pasir, Tangerang, Banten; and Bantar Gebang, Bekasi, West Java. The variables that used on this research are the mentoring of zakah productive, saving attitude, saving behavior, and prosperity. The result showed that the mentoring of productive zakah program has significant influence for the saving attitude and saving behavior. Saving behavior also affects significantly the prosperity of poor housewives

11

Authors: Any Setyaningrum

The aim of this study is to analyze the possibility of Islamic state revenue to improve the ability of Indonesia’s fiscal. This thing is important in the way to diversify the fiscal instruments in Indonesia. The result shows that several Islamic revenues instruments still relevant to applied in Indonesia, exclude the ghanimah and Jizya. But, it is necessary to adjust the nomenclature and connectivity with state financial regulations. The application does not have to be exclusive and labels associated with Islam, but should be more focused on the exploration of universal values and utility, which is inherent in all of Islam income instruments.

12

Authors: Erika Amelia

This research aims to analyze the influence of the Capital Adequacy Ratio (CAR), Non Performing Financing (NPF), Financing to Deposit Ratio (FDR) and Biaya Operasional Pendapatan Operasional (BOPO) to Return on Asset (ROA) in Bank Muamalat Indonesia and Bank Syariah Mega. The data analysis method used in this research is multiple regression analysis. From the test results show that the Capital Adequacy Ratio (CAR), Non Performing Financing (NPF), Financing to Deposit Ratio (FDR) and Biaya Operasional Pendapatan Operasional (BOPO) simultaneously effect to Return on Asset (ROA). Based on the test results of the t statistic was concluded that the Capital Adequacy Ratio (CAR), Non Performing Financing (NPF) and the Financing to Deposit Ratio (FDR) partially no significant effect to Return on Asset (ROA), while Biaya Operasional Pendapatan Operasional (BOPO) partially significant effect to Return on Asset (ROA)

16

Authors: Muniaty Aisyah

The purposes of this research are to analyze peer group effects on Moslem consumers’decision to purchase halal-labeled cosmetics directly and indirectly which is mediated by consumers’ religious behavior. This research applies Structural Equation Model and convenience random sampling with 215 samples who have bought halal-labeled cosmeticsand live in Southern Tangerang. The findings show that: first, peer groupdirectly affect consumers’ decisionto purchase halal-labeled cosmetics; second, hablumminannas behavior mediates peer group and consumers’decision to purchase halal-labeled cosmeticsindirectly, third, hablumminallah behavior has the most dominant effect on Moslem consumers’ decision to purchase halal-labeled cosmetics. Based on the findings, it could be concluded that the reason of consumers’ decision to purchase halal-labeled cosmetics is because their religious behavior are high. Therefore, it is suggested that government and related institutions need to implement the Security Act of Halal Products immediately in order to protect the consumer from consuming non-halal products

10

Authors: Abdul Hamid

The purpose of this paper is to analyze that the spinoff policy that based on Islamic Banking Act No. 21/2008 had an impact on the profitability ratio of Islamic banking industry in Indonesia. This research used ordinary least square regression. The variable used in this paper is spin-off which is used as a dummy variable, and also included the internal factor of industry such as deposit margin, non-performing financing (NPF), and efficiency ratio (measured by BOPO). The result showed that dummy variable of spin-off, NPF and BOPO had an impact on the profitability in Indonesian Islamic banking industry. The implication of this result is spin-off policy had a good impact on the profitability in Indonesian Islamic banking industry. According to this result, Bank Indonesia should stimulate the Islamic banking unit to spin-off from their parents conventional banks.

12

Authors: M. Sabri Haron, Riki Rahman & Bayu T Possumah

Objective of this article is to assess how far the principles of inclusiveness in the Economic New Model in Malaysia can fulfil the needs of maqasid syar’iyyah. The assessment is conducted through the key concepts and strategic measures of the principles of inclusiveness. This study is a qualitative which descriptive and analytical approach is used for assessing the principles of inclusiveness in the Economic New Model based on maqasid syar’iyyah perspective. The method of this study is using the literature review with references from secondary data. This study is expected to provide recommendations about the important role of maqasid syar’iyyah for maintaining the welfare of society and developing of a country, in this context for developing the Malaysian economy, in line with the vision 2020, Malaysia on par with developed countries

14

Authors: Suryani & Hendryadi

This research aims to develop a measurement tool of service quality in Islamic banking sector, and examine its relationship among satisfaction, word of mouth (WOM), and consumer loyalty. A convenience sampling of 235 respondents collected from seven locations in the Lhokseumawe, Aceh. Partial least square -structural equation modeling- (PLS-SEM) was used to test the research hypotheses. The results revealed that the quality of service has four dimensions, they are: service portfolio and assurance/SPA, tangibles/TAN, reliability of communication/COM, and Islamic values/IVA. The PLS-SEM results suggest that SPA and COM are dominant factors affecting satisfaction, and satisfaction were significantly related to WOM and loyalty. Loyalty also positively and significantly related to WOM

14

Authors: Zuhairan Y. Yunan & Mia Rahmasari

The aim of this research is to analyze the shariah stock performance using risk adjusted performance method. There are three parameters to measure the stock performance i.e. Sharpe, Treynor, and Jensen. This performance’s measurements calculate the return and risk factor from shariah stocks. The data that used on this research is using the data of stocks at Jakarta Islamic Index. Sampling method that used on this paper is purposive sampling. This research is using ten companies as a sample. The result shows that from three parameters, the stock that have a best performance are AALI, ANTM, ASII, CPIN, INDF, KLBF, LSIP, and UNTR

18

Authors: Euis Amalia & Mahmudah Atiqah

This study focuses on evaluating the performances of three sharia microfinance models, i.e. cooperative model represented by BMT al Fath, Grameen model represented by MBK, Ltd.co, and mixed model represented by Baytul Amanah Ikhtiar cooperative. ANP approach is used to evaluate the performances of those models from five important aspects (clusters) as the determiners, such as human resource, finance, management, sharia compliance, and marketing. The findings of this research show that the most important aspect (priority) among the clusters is human resource. Thus, the best strategy is the mixed-based; the model which integrates the cooperative system with grameen system. It becomes the best model inasmuch as it implements values of both co ownership and co responsibility, in addition to power of collectivity resulting in no cash collateral.

11

Authors: Rahmat Dahlan

The purpose of this study is to analyze what factors are influencing cash waqf perceptions of nazhir. The sampling method that used in this research is nonprobability sampling with adjusted sampling technique. The method was used to analyze the data are descriptive analysisi and logistic regression. The result of this study showed that perception nazhir influenced by the media access information and understanding of waqf regulation. Nazhir that agree with cash waqf and understand with waqf regulation is about 0,94 times if we compare with the nazhir that not understand with waqf requlation. The educational background will be influence to the mindset of nazhir perception and understanding

12

Authors: Suryani

The aim of this study is to determine and identify the factors forming quality of service in PT. Bank Muamalat Indonesia, Tbk Branch Medan. Instruments of research use questionnaires and factor analysis. This research is quantitative research using survey methods. The sample method that used in this research is accidental sampling. The reliability and validity test shown that 13 question had been fulfilled the reliability and validity requirements. From the extraction gives three factors. Factor 1 explained 45,299%, factor 2 explained 12,819%, and factor 3 explained 8,904%. The results show that quality of communication is dominant factor to explain service quality. Then product innovation and physical aspects

16

Authors: Abdul Wahab, M. Nadratuzaman Hosen, & Syafaat Muhari

This research is to compare the levels of technical efficiency between BUK and BUS by employing non-parametric Data Envelopment Analysis (DEA). This research assigns Third Party Funds, Labor Expenses and Fixed Assets which are input variable, meanwhile Total Credit and Other Incomes are determined as Output Variables. This research also examines the Profitability of BUK and BUS by Using Panel Regression Model with CAR, LDR, NPL and BOPO as independent variables, where ROA and ROE are dependent variables. The result showed that the average technical efficiency of the Conventional Banks is better than that of the Islamic Banks. That is because of the inefficient utilization of Input Variables, namely Third Party Funds, Labor Expenses and Fixed Assets in the Islamic Banks

16

Authors: Nurul Huda, Desti Anggraini, Khalifah M. Ali, Yosi Mardono, Nova Rini

The aim of this study is to map the priority problems and solutions in the management of zakat by using AHP (Analytic Hierarchy Process). Results of a study reveals that there are three kinds of priority issues and solutions zakat management divided by stakeholder agencies (stakeholders) zakat, i.e regulators, zakat organization (OPZ), muzaki and mustahik . The Analytical Hierarchy Process (AHP) model at Banten and Jakarta give a same priority score, i.e. the institution for solving problem in zakat management is OPS dan regulator solution priority is amil sertification.

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Authors: Jamaluddin Madjid & Safri Halding

Fair value accounting (FVA) paradigm replaced the historical cost accounting (HCA) in the development of accounting standards that FVA is more relevant that HCA probably did not provide the real financial and income information. This paper tries to explore critical aspects of the fair value accounting and its implications to Islamic Financial Institutions implications. This study concludes that that fair value accounting measurement provides many critical aspects to be implemented to Islamic Financial Institutions (IFIs). AAOIFI proposed cash equivalent value as respond to fair value measurement that cash equivalent value when the attribute condition are present such as the relevance, reliability and understandability of the resulting information

10

Authors: Siti Aisyah

The aim of this research is to measure the micro and small entreprise preference in Pasar Baru Cikarang in selecting of conventional or shariah financing access with using 100 responden. The Method that used in this research is binary logistic regression and descriptive analysis. There are two result of this research, first, the factor that influence the micro and small enterprise preference are the lower interest/yield, diverse product, financing plafond, and presence a guidance of business development. Second, the micro and small medium enterprise in Pasar Baru Cikarang is more preferrable access in conventional financial institution

12

Authors: Jamaluddin Madjid dan Safri Halding

This article tries to analyze the term “Islamization of knowledge method through accountancy. The economic system and the foundation of philosophy its system may influence the accounting practice that Islamic worldview provides the original source of revelation in a Muslim society by using Islamic literally of being the adherents to Islam due to be vicegerents of god and providing accountability in all aspects. Islam as a way of life, covering all activities and economic activities as accounting as well are only small part of Islam, through Al Quran and Al Hadits. In terms of developing of Islamic accounting system that as social science and institution may provide a way to satisfy its social economic objective in order to meet the benefit in this world and hereafter

12

Authors: Rifa Farhah

The aim of this research is to analyze the effectiveness of weekend banking services at Bank Muamalat Indonesia. The method that used in this research is linier regression and. The result shown that the value of adjusted R-squared was 0.313409. It means that customer’s preference (dependent variable) was influenced by location, brand image, and, product and services in the amount of 31.34% and the others 68.66% was influenced by the others factor. From the paired sample t-test shown that the weekend banking services still not effective to increase the third party funds

12

Authors: Andi Iswandi

In the discourse of conventional economics, ethics in economic activity does not have an important role in his studies even denied. This view is based sphere of ethics that is different from the economic sphere. Ethics is more inclined to religious values are just talking about good-bad and the world hereafter. While the economy discussing with the sistem and the material welfare. In contrast to conventional economics, Islamic economics is the view that ethics plays a role in the economic activity, even ethics and economics can’t be separated. In Islamic economics, ethics or morals qur’ani contained in the Quran has an important role on the formation of an Islamic economic system.

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Authors: Nurul Ichsan

this article is about management of liquidity which discuss about the position of cash money in the company and its ability to fulfill the obligation (pay the debt) on time. Management of liquidity is one of the essential function which is done by banking institution and inside its efficient management, is needed instrument and finance market which is taking not only short term but also long term,and not only conventional banking but also syariat. Through that natural necessity (placement and fulfillment of short term need), for Islamic banking in Indonesia has been availabled some instruments such as (IMA) certificate of Mudhorobah Investment between bank, (PUAS) market banking regulations between syariat bank, (SWBI) Bank of Indonesia Wadiah certificate, (FPJPS)provision about short term cost facility for Islamic banks