Purpose – This study tries to find out what factors influence the intention to use cryptocurrency from a social and religious perspective using Self Determination Theory (SDT) and Theory of Planned Behavior (TPB).Methodology – Respondents were chosen using purposive sampling targeting z generation and analyze using Structural Equation Modeling - Pooled Least Square (SEM-PLS). 100 respondents took part in this study and analyze using SmartPLS 3.2.9 Software.Findings – The result of this study indicates that FoMO and Islamic financial literacy does not have influences on intention to use cryptocurrency while Attitude has a positive effect on intention to use cryptocurrency. The other finding of this study is religiosity and subjective norms has influence on attitude while higher level of religiosity will increase the Islamic financial literacy.Implications – Theoretically, this study contributes to financial behavior and financial technology study. Practically, this study can be used by developer of sharia investment platform to optimize their product. Because even all of our respondents are a moslem, majority of them didn’t investing in sharia product but also don’t have intention to engage in Cryptocurrency. Originality – We believe this study is the first empirical study that investigates the intention to use cryptocurrency from a religious perspective, specifically Islamic financial literacy.
{"title":"Intention to use cryptocurrency: Social and religious perspective","authors":"Noorfaiz Athallah Koeswandana, Fakhruddin Amanullah Sugino","doi":"10.20885/jeki.vol9.iss1.art7","DOIUrl":"https://doi.org/10.20885/jeki.vol9.iss1.art7","url":null,"abstract":"Purpose – This study tries to find out what factors influence the intention to use cryptocurrency from a social and religious perspective using Self Determination Theory (SDT) and Theory of Planned Behavior (TPB).Methodology – Respondents were chosen using purposive sampling targeting z generation and analyze using Structural Equation Modeling - Pooled Least Square (SEM-PLS). 100 respondents took part in this study and analyze using SmartPLS 3.2.9 Software.Findings – The result of this study indicates that FoMO and Islamic financial literacy does not have influences on intention to use cryptocurrency while Attitude has a positive effect on intention to use cryptocurrency. The other finding of this study is religiosity and subjective norms has influence on attitude while higher level of religiosity will increase the Islamic financial literacy.Implications – Theoretically, this study contributes to financial behavior and financial technology study. Practically, this study can be used by developer of sharia investment platform to optimize their product. Because even all of our respondents are a moslem, majority of them didn’t investing in sharia product but also don’t have intention to engage in Cryptocurrency. Originality – We believe this study is the first empirical study that investigates the intention to use cryptocurrency from a religious perspective, specifically Islamic financial literacy.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"82204923","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.20885/jeki.vol9.iss1.art4
Nawir Yuslem, N. Nurhayati, A. Hasibuan
Purpose – This study aims to investigate the problem of the literacy level on Islamic financial among the Ulama. This study uses data from scholars engaged in the field of da'wah Islamic community organizations, including Nahdatul Ulama, Muhammadiyah, Al-Washliyah, and the Indonesian Ulama Council located in North Sumatra.Methodology – This study employs descriptive qualitative approach with a case study as the research methods. In addition, the Analytic Network Process (ANP) technique with a weighted questionnaire given to informants is also used as the analytical technique. Weighting is done through comparison between criteria and sub-criteria.Findings –The results showed that problem of Islamic financial knowledge (at 29.80 percent) is the highest Islamic financial literacy problem. It then was followed by Islamic financial belief at 25.75 percent, financial attitudes at 16.97 percent, Islamic financial behavior at 17.69 percent, and the lowest was financial skill by 9.77 percent. Furthermore, the rate of agreement value of all respondents at 27 percent implies that the respondent's level of agreement on the priority order of Islamic financial literacy issues in the form of Islamic financial knowledge orientation, Islamic financial beliefs, financial attitudes, Islamic financial behavior, and financial skills is 27 percent.Implications – This research is a reference for regulators in formulating policy strategies to increase Islamic financial literacy in Indonesia.Originality – The novelty of this study is that it identifies the problems of Islamic financial literacy among scholars in North Sumatra by analyzing the opinions of experts from various groups of scholars and stakeholders of Islamic finance.
{"title":"Analysis of the problems of Islamic financial literacy for Muslim scholars","authors":"Nawir Yuslem, N. Nurhayati, A. Hasibuan","doi":"10.20885/jeki.vol9.iss1.art4","DOIUrl":"https://doi.org/10.20885/jeki.vol9.iss1.art4","url":null,"abstract":"Purpose – This study aims to investigate the problem of the literacy level on Islamic financial among the Ulama. This study uses data from scholars engaged in the field of da'wah Islamic community organizations, including Nahdatul Ulama, Muhammadiyah, Al-Washliyah, and the Indonesian Ulama Council located in North Sumatra.Methodology – This study employs descriptive qualitative approach with a case study as the research methods. In addition, the Analytic Network Process (ANP) technique with a weighted questionnaire given to informants is also used as the analytical technique. Weighting is done through comparison between criteria and sub-criteria.Findings –The results showed that problem of Islamic financial knowledge (at 29.80 percent) is the highest Islamic financial literacy problem. It then was followed by Islamic financial belief at 25.75 percent, financial attitudes at 16.97 percent, Islamic financial behavior at 17.69 percent, and the lowest was financial skill by 9.77 percent. Furthermore, the rate of agreement value of all respondents at 27 percent implies that the respondent's level of agreement on the priority order of Islamic financial literacy issues in the form of Islamic financial knowledge orientation, Islamic financial beliefs, financial attitudes, Islamic financial behavior, and financial skills is 27 percent.Implications – This research is a reference for regulators in formulating policy strategies to increase Islamic financial literacy in Indonesia.Originality – The novelty of this study is that it identifies the problems of Islamic financial literacy among scholars in North Sumatra by analyzing the opinions of experts from various groups of scholars and stakeholders of Islamic finance.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86103131","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.20885/jeki.vol9.iss1.art5
Dzuliyati Kadji, D. Widiyanti
Purpose – This study aims to analyze the influence of the five dimensions of Maqashid Sharia on the life satisfaction of Muslim volunteers of charitable organizations di Indonesia.Methodology – This study used data from the World Value Survey Wave 7 with a sample of 504 muslim volunteers who are active members of charitable organizations in Indonesia. The data were analyzed using logit and probit regression.Findings – The results of this study reveal that both the logit and probit methods consistently show that from the five Maqashid Syariah dimensions, the dimensions of faith, life and wealth positively influence the life satisfaction of volunteers. In contrast, the intellectual and descendants dimensions are not significant to the life satisfaction of volunteers. Furthermore, the wealth dimension has the greatest tendency toward the life satisfaction of Muslim volunteers from charitable organizations in Indonesia. Implications – This research has implications for developing empirical analysis of individual well-being in Indonesia and the research on the subjective well-being of volunteers, which is part of a national and international analysis of economic happiness linked with the Islamic economy, specifically maqashid sharia as an essential part of Muslim individuals. Originality – This research is expected to fill in the existing research gap regarding welfare analysis of volunteer life satisfaction from an Islamic economic point of view through the Dimension of Maqashid Sharia. This study employs volunteers as objects because Indonesian volunteers are the most numerous in the world, contributing to Indonesia's position as the most generous country in the world.
{"title":"Volunteers’ well-being with the maqashid shariah approach: Evidence from charitable organizations in Indonesia","authors":"Dzuliyati Kadji, D. Widiyanti","doi":"10.20885/jeki.vol9.iss1.art5","DOIUrl":"https://doi.org/10.20885/jeki.vol9.iss1.art5","url":null,"abstract":"Purpose – This study aims to analyze the influence of the five dimensions of Maqashid Sharia on the life satisfaction of Muslim volunteers of charitable organizations di Indonesia.Methodology – This study used data from the World Value Survey Wave 7 with a sample of 504 muslim volunteers who are active members of charitable organizations in Indonesia. The data were analyzed using logit and probit regression.Findings – The results of this study reveal that both the logit and probit methods consistently show that from the five Maqashid Syariah dimensions, the dimensions of faith, life and wealth positively influence the life satisfaction of volunteers. In contrast, the intellectual and descendants dimensions are not significant to the life satisfaction of volunteers. Furthermore, the wealth dimension has the greatest tendency toward the life satisfaction of Muslim volunteers from charitable organizations in Indonesia. Implications – This research has implications for developing empirical analysis of individual well-being in Indonesia and the research on the subjective well-being of volunteers, which is part of a national and international analysis of economic happiness linked with the Islamic economy, specifically maqashid sharia as an essential part of Muslim individuals. Originality – This research is expected to fill in the existing research gap regarding welfare analysis of volunteer life satisfaction from an Islamic economic point of view through the Dimension of Maqashid Sharia. This study employs volunteers as objects because Indonesian volunteers are the most numerous in the world, contributing to Indonesia's position as the most generous country in the world.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84759785","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-02-01DOI: 10.20885/jeki.vol9.iss1.art6
Miftakhul Khasanah, Basu Swahtha Dharmmesta, B. Sutikno
This study aims to develop the Halal Food Literacy scale (HFL) concept and measurement. The concept of HFL in this study is based on the concept of literacy for consumers. In this case, the SDGs are the theoretical basis for building the HFL concept. Cognitive aspects related to Bloom's concept of Taxonomy were used as the basis for compiling this concept. The study includes four stages: developing, compiling, and describing the concept of Halal Food Literacy based on literature studies, interviews, discussions with experts and scholars, drafting items, testing the validity of the contents, and lastly, data testing with exploratory factor analysis. The results of the scale test revealed that there are four HFL factors, namely Halal awareness, Halal knowledge, Behavioral beliefs, and halal-related label beliefs. These four factors contributed 69.758% of the general variant and 57.828% of the variance from 11 items.
{"title":"Halal Food Literacy: Conceptual Framework, Dimension, and Scale Development","authors":"Miftakhul Khasanah, Basu Swahtha Dharmmesta, B. Sutikno","doi":"10.20885/jeki.vol9.iss1.art6","DOIUrl":"https://doi.org/10.20885/jeki.vol9.iss1.art6","url":null,"abstract":"This study aims to develop the Halal Food Literacy scale (HFL) concept and measurement. The concept of HFL in this study is based on the concept of literacy for consumers. In this case, the SDGs are the theoretical basis for building the HFL concept. Cognitive aspects related to Bloom's concept of Taxonomy were used as the basis for compiling this concept. The study includes four stages: developing, compiling, and describing the concept of Halal Food Literacy based on literature studies, interviews, discussions with experts and scholars, drafting items, testing the validity of the contents, and lastly, data testing with exploratory factor analysis. The results of the scale test revealed that there are four HFL factors, namely Halal awareness, Halal knowledge, Behavioral beliefs, and halal-related label beliefs. These four factors contributed 69.758% of the general variant and 57.828% of the variance from 11 items. \u0000 ","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-02-01","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"75759890","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-05DOI: 10.20885/jeki.vol9.iss1.art2
Dwila Sempi Yusiani, E. Kusrini, Eley Suzana Kasim
Purpose – The study aims to develop a risk mitigation approach based on the operational aspects of services and restaurants in sharia hotels.Methodology – A series of semi structured interviews was conducted with various relevant participants consisting of lecturers and Indonesian Ulema Council (MUI) employees. The interviews aimed to elicit information pertaining to the identification of risks and risk handling priorities in halal certification sharia hotels.Findings – In general, risk identification and risk handling were proposed to provide recommendation to sharia hotels in mitigating risks to obtain halal certificate. The findings indicate that numerous risk factors made it difficult for hotels to obtain halal certification. Therefore, the hotel needs to know potential hazards in their operational activities of the given services so that appropriate risk mitigation can be implemented.Implications – This study's findings can be applied to improve research in the field of sharia hotels, specifically certification and implementation criteria. With the exact terms and circumstances of each criterion, it will be easier for the hotel to prepare to become a sharia hotel that adheres to Islamic sharia principles, particularly in growing halal tourism in various regions of Indonesia.Originality – This research contributes significantly to the area of halal tourism. In addition, this paper investigates risk analysis based on Indonesian regulations that are hardly ever discussed. Therefore, the findings of this study can assist hotel management, sharia tourism practitioners, and policymakers with relatively new information.
{"title":"The strategy for mitigating risk in sharia hotels based on the DSN-MUI Fatwa regarding the service and restaurant operational aspects","authors":"Dwila Sempi Yusiani, E. Kusrini, Eley Suzana Kasim","doi":"10.20885/jeki.vol9.iss1.art2","DOIUrl":"https://doi.org/10.20885/jeki.vol9.iss1.art2","url":null,"abstract":"Purpose – The study aims to develop a risk mitigation approach based on the operational aspects of services and restaurants in sharia hotels.Methodology – A series of semi structured interviews was conducted with various relevant participants consisting of lecturers and Indonesian Ulema Council (MUI) employees. The interviews aimed to elicit information pertaining to the identification of risks and risk handling priorities in halal certification sharia hotels.Findings – In general, risk identification and risk handling were proposed to provide recommendation to sharia hotels in mitigating risks to obtain halal certificate. The findings indicate that numerous risk factors made it difficult for hotels to obtain halal certification. Therefore, the hotel needs to know potential hazards in their operational activities of the given services so that appropriate risk mitigation can be implemented.Implications – This study's findings can be applied to improve research in the field of sharia hotels, specifically certification and implementation criteria. With the exact terms and circumstances of each criterion, it will be easier for the hotel to prepare to become a sharia hotel that adheres to Islamic sharia principles, particularly in growing halal tourism in various regions of Indonesia.Originality – This research contributes significantly to the area of halal tourism. In addition, this paper investigates risk analysis based on Indonesian regulations that are hardly ever discussed. Therefore, the findings of this study can assist hotel management, sharia tourism practitioners, and policymakers with relatively new information.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"80438771","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-05DOI: 10.20885/jeki.vol9.iss1.art3
Novita Rahayu Pratiwi, N. K. Indrawati, Risna Wijayanti
Purpose – This study aims to explore and understand how the mindset of merchant women in Montong Traditional Market so choose loan sharks as their loan source, which refers to the perspective of behavior and financial literacy.Methodology – This qualitative research with a Schutz phenomenological design, takes the research setting in Montong Traditional Market, Tuban. Data were collected through observation, interviews, and documentation.Findings – The results of the study show five biased of merchant women towards loan sharks, namely confirmation bias, framing, herding effect, hindsight bias, and representativeness. 'Agamis' in the merchant women in Montong Traditional Market does not guarantee that she is free from loan sharks. Implications – The results of this study indicate that related parties, such as religious leaders, the society leader, and cooperatives in Montong Traditional Market, Tuban, are expected to be able to increase education related to financial literacy through existing programs effectively and efficiently. Banks and cooperatives in the Montong Traditional Market area should be able to pick up the ball by providing door-to-door services to merchant women in Montong Traditional Market as a maximum effort to eradicate loan shark practices.Originality – This study explores the mindset of merchant women on loan sharks, whereas previous studies related to loan sharks have only explored them from an economic perspective.
{"title":"Biased behavior in borrowing from loan sharks","authors":"Novita Rahayu Pratiwi, N. K. Indrawati, Risna Wijayanti","doi":"10.20885/jeki.vol9.iss1.art3","DOIUrl":"https://doi.org/10.20885/jeki.vol9.iss1.art3","url":null,"abstract":"Purpose – This study aims to explore and understand how the mindset of merchant women in Montong Traditional Market so choose loan sharks as their loan source, which refers to the perspective of behavior and financial literacy.Methodology – This qualitative research with a Schutz phenomenological design, takes the research setting in Montong Traditional Market, Tuban. Data were collected through observation, interviews, and documentation.Findings – The results of the study show five biased of merchant women towards loan sharks, namely confirmation bias, framing, herding effect, hindsight bias, and representativeness. 'Agamis' in the merchant women in Montong Traditional Market does not guarantee that she is free from loan sharks. Implications – The results of this study indicate that related parties, such as religious leaders, the society leader, and cooperatives in Montong Traditional Market, Tuban, are expected to be able to increase education related to financial literacy through existing programs effectively and efficiently. Banks and cooperatives in the Montong Traditional Market area should be able to pick up the ball by providing door-to-door services to merchant women in Montong Traditional Market as a maximum effort to eradicate loan shark practices.Originality – This study explores the mindset of merchant women on loan sharks, whereas previous studies related to loan sharks have only explored them from an economic perspective.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"86339544","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-01-05DOI: 10.20885/jeki.vol9.iss1.art1
Chajar Matari Fath Mala, M. N. Hosen, M. N. R. Al Arif
Purpose – This paper aims to investigate whether the Islamic banking industry in Indonesia and Malaysia is collusive or efficient. Indonesian Islamic banking is expected to meet the Qualified ASEAN Bank (QAB) to compete with other Islamic banks, including Malaysia.Methodology – The data used in this study was panel data on Islamic banking in Indonesia and Malaysia from January 2010 to December 2019. Data analysis employed static panel data regression.Findings – The findings of the study disclosed no collusive behavior from Islamic banking in Indonesia and Malaysia to increase profitability. Meanwhile, market share has been shown to boost profitability in terms of equity, despite the fact that there is an endogeneity problem. Technical efficiency and scale efficiency in Islamic banking in Indonesia have been shown to significantly increase market share, but not profitability and market power. This study concludes that if Islamic banking market in Indonesia and Malaysia are opened and state boundaries are lifted, Indonesian Islamic banking still will not be able to compete since it has not been able to acquire economies of scale.Implications – Islamic banking in Indonedia needs to establish Islamic-Finance-Friendly Regulations. It is expected to pave the way for the value-added character of Islamic banking, it is the most important strategy to boost market share of Indonesian Islamic banking.Originality – This study seeks to fill the validation gap of endogeneity test in Islamic banking. There is the limitation on studies of Islamic banks since the validation of endogeneity test deal only with conventional banking studies.
{"title":"An analysis of market power and efficiency of Islamic banking in Indonesia and Malaysia","authors":"Chajar Matari Fath Mala, M. N. Hosen, M. N. R. Al Arif","doi":"10.20885/jeki.vol9.iss1.art1","DOIUrl":"https://doi.org/10.20885/jeki.vol9.iss1.art1","url":null,"abstract":"Purpose – This paper aims to investigate whether the Islamic banking industry in Indonesia and Malaysia is collusive or efficient. Indonesian Islamic banking is expected to meet the Qualified ASEAN Bank (QAB) to compete with other Islamic banks, including Malaysia.Methodology – The data used in this study was panel data on Islamic banking in Indonesia and Malaysia from January 2010 to December 2019. Data analysis employed static panel data regression.Findings – The findings of the study disclosed no collusive behavior from Islamic banking in Indonesia and Malaysia to increase profitability. Meanwhile, market share has been shown to boost profitability in terms of equity, despite the fact that there is an endogeneity problem. Technical efficiency and scale efficiency in Islamic banking in Indonesia have been shown to significantly increase market share, but not profitability and market power. This study concludes that if Islamic banking market in Indonesia and Malaysia are opened and state boundaries are lifted, Indonesian Islamic banking still will not be able to compete since it has not been able to acquire economies of scale.Implications – Islamic banking in Indonedia needs to establish Islamic-Finance-Friendly Regulations. It is expected to pave the way for the value-added character of Islamic banking, it is the most important strategy to boost market share of Indonesian Islamic banking.Originality – This study seeks to fill the validation gap of endogeneity test in Islamic banking. There is the limitation on studies of Islamic banks since the validation of endogeneity test deal only with conventional banking studies.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2023-01-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"83749597","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-12DOI: 10.20885/jeki.vol8.iss2.art10
Ronald Rulindo, Muhammad Rifqi
Purpose – This paper investigates Sharia concerns on existing bank resolution framework and propose recommendations on how to resolve those concerns in Sharia-compliant manners. It also assesses compatibility of resolution powers mandated by the FSB’s Key Attributes of Effective Resolution Regimes for Financial Institutions if applied to resolve failed Islamic bank, especially focusing on operational aspect of executing the resolution options. Methodology – We conduct a series of focus group discussion with various relevant stakeholders, including Indonesian Sharia scholars, regulators, professional associations, Islamic bankers and academics. The discussions were performed in group interviews format, with the authors took part as moderators. The discussions took place between July 2020 to January 2021, and were part of development of fatwa and regulations on the resolution for Islamic banks.Findings – In general, the existing bank resolution framework can be applied to Islamic banks. However, there are some resolution powers of the authority that possesses inherent sharia issues, but are still allowed according to Dewan Syariah Nasional (DSN) (the National Sharia Council). There should be clear measures attached to those powers prior to implementation. For some aspects, some adjustments to the resolution powers are also needed through establishment of infrastructures and regulations, particularly with regards to resolution options.Originality – The novelty of this study is the analysis of suitability of banking resolution issues from Sharia perspective. This paper also serves to enhance awareness on issues related to resolution of Islamic banks and promote wider implementation of Sharia approaches for bank resolution in other jurisdictions.
目的-本文调查伊斯兰教法对现有银行决议框架的关注，并就如何以符合伊斯兰教法的方式解决这些问题提出建议。本报告还评估了金融稳定理事会《金融机构有效处置机制的关键属性》规定的处置权力在处置失败的伊斯兰银行时的兼容性，尤其侧重于执行处置方案的操作方面。方法-我们与各种相关利益相关者进行了一系列焦点小组讨论，包括印度尼西亚伊斯兰教法学者、监管机构、专业协会、伊斯兰银行家和学者。讨论以小组访谈的形式进行，作者作为主持人参与讨论。这些讨论是在2020年7月至2021年1月期间进行的，是制定伊斯兰银行决议的法特瓦和法规的一部分。调查结果-一般而言，现有的银行处置框架可适用于伊斯兰银行。然而，有一些具有固有伊斯兰教法问题的权威的决议权力，但根据Dewan Syariah Nasional (DSN)(国家伊斯兰教法委员会)仍然允许。在执行这些权力之前，应附有明确的措施。在某些方面，还需要通过建立基础设施和法规对决议权力进行一些调整，特别是在决议选择方面。独创性-本研究的新颖之处在于从伊斯兰教法的角度分析银行处置问题的适宜性。本文还有助于提高对解决伊斯兰银行问题的认识，并促进在其他司法管辖区更广泛地实施伊斯兰教法解决银行问题的方法。
{"title":"In search of sharia-compliant resolution framework for islamic banks: The case of Indonesia","authors":"Ronald Rulindo, Muhammad Rifqi","doi":"10.20885/jeki.vol8.iss2.art10","DOIUrl":"https://doi.org/10.20885/jeki.vol8.iss2.art10","url":null,"abstract":"Purpose – This paper investigates Sharia concerns on existing bank resolution framework and propose recommendations on how to resolve those concerns in Sharia-compliant manners. It also assesses compatibility of resolution powers mandated by the FSB’s Key Attributes of Effective Resolution Regimes for Financial Institutions if applied to resolve failed Islamic bank, especially focusing on operational aspect of executing the resolution options. Methodology – We conduct a series of focus group discussion with various relevant stakeholders, including Indonesian Sharia scholars, regulators, professional associations, Islamic bankers and academics. The discussions were performed in group interviews format, with the authors took part as moderators. The discussions took place between July 2020 to January 2021, and were part of development of fatwa and regulations on the resolution for Islamic banks.Findings – In general, the existing bank resolution framework can be applied to Islamic banks. However, there are some resolution powers of the authority that possesses inherent sharia issues, but are still allowed according to Dewan Syariah Nasional (DSN) (the National Sharia Council). There should be clear measures attached to those powers prior to implementation. For some aspects, some adjustments to the resolution powers are also needed through establishment of infrastructures and regulations, particularly with regards to resolution options.Originality – The novelty of this study is the analysis of suitability of banking resolution issues from Sharia perspective. This paper also serves to enhance awareness on issues related to resolution of Islamic banks and promote wider implementation of Sharia approaches for bank resolution in other jurisdictions.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-12","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"90251836","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-09-09DOI: 10.20885/jeki.vol8.iss2.art9
Deni Lubis, Kurnia Tri Wahyuni, Yekti Mahanani, Aditya Hadad Riyadi
Purpose – This study aims to examine the factors that affect the younger generation's use of the Bibit platform to invest in sharia mutual funds.Methodology – This study relies on primary data from 300 people aged 17 to 40 who used the Bibit platform to invest in sharia mutual funds and the study used Structural Equation Modelling Partial Least Squares (SEM-PLS) to analyze the relationship between independent variables and dependent variables using the SmartPLS 3.2.9 application. Data transformation is supported by Microsoft Excel 2019 and IBM SPSS Statistics 25.Finding – It has been discovered that a variety of factors, including behavioral goals, social influence, attitudes toward use, perceived risks, and perceived rewards all have an impact on whether or not the young generation uses the Bibit platform for investing in Islamic mutual funds.Implication – This research will assist stakeholders in developing strategies and policies to increase demand for sharia instruments among the younger generation.Originality – Indonesia's population is dominated by the younger generation who are the main potential investors in the future. This research contributes to attracting young investors to invest in Islamic mutual funds in Indonesia so that Islamic finance is increasingly developed.
{"title":"Why does the young generation invest in sharia mutual funds on the Bibit platform?","authors":"Deni Lubis, Kurnia Tri Wahyuni, Yekti Mahanani, Aditya Hadad Riyadi","doi":"10.20885/jeki.vol8.iss2.art9","DOIUrl":"https://doi.org/10.20885/jeki.vol8.iss2.art9","url":null,"abstract":"Purpose – This study aims to examine the factors that affect the younger generation's use of the Bibit platform to invest in sharia mutual funds.Methodology – This study relies on primary data from 300 people aged 17 to 40 who used the Bibit platform to invest in sharia mutual funds and the study used Structural Equation Modelling Partial Least Squares (SEM-PLS) to analyze the relationship between independent variables and dependent variables using the SmartPLS 3.2.9 application. Data transformation is supported by Microsoft Excel 2019 and IBM SPSS Statistics 25.Finding – It has been discovered that a variety of factors, including behavioral goals, social influence, attitudes toward use, perceived risks, and perceived rewards all have an impact on whether or not the young generation uses the Bibit platform for investing in Islamic mutual funds.Implication – This research will assist stakeholders in developing strategies and policies to increase demand for sharia instruments among the younger generation.Originality – Indonesia's population is dominated by the younger generation who are the main potential investors in the future. This research contributes to attracting young investors to invest in Islamic mutual funds in Indonesia so that Islamic finance is increasingly developed.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-09-09","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"89723504","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2022-08-03DOI: 10.20885/jeki.vol8.iss2.art8
Tri Wahyudi Wahyudi, Gita Puspita
Purpose – This study aims to analyze the influence of intellectual capital; and corporate governance on the performance of zakat in Islamic commercial banks. Methodology – Population in this study is Islamic commercial banks registered in the Bank Indonesia database with the period spanning from 2014 to 2019. The samples were filtered using purposive sampling technique based on financial statement data. Analyses were carried out using classical assumption test and multiple linear regression analysis. Findings – The results from multiple linear regression analysess indicate that intellectual capital significantly influences zakat performance at 5 percent alpha level. However, intellectual capital has no effect on zakat performance when variable of corporate governance is treated as an intervening variable. Implications – This research can be used in the future both as a literature review and as a reference material that can be used by zakat institutions, Islamic banking, and the government, especially in Indonesia in managing and determining strategies to improve future company performance.Originality – In general, research using sharia principles for each variable calculation (iB-VAIC and Zakat) are still limited. In addition, there is only a few researchers who use the corporate governance variable as an intervening variable.
{"title":"Intellectual capital on zakat performance with corporate governance as an intervening variable in sharia commercial banks","authors":"Tri Wahyudi Wahyudi, Gita Puspita","doi":"10.20885/jeki.vol8.iss2.art8","DOIUrl":"https://doi.org/10.20885/jeki.vol8.iss2.art8","url":null,"abstract":"Purpose – This study aims to analyze the influence of intellectual capital; and corporate governance on the performance of zakat in Islamic commercial banks. Methodology – Population in this study is Islamic commercial banks registered in the Bank Indonesia database with the period spanning from 2014 to 2019. The samples were filtered using purposive sampling technique based on financial statement data. Analyses were carried out using classical assumption test and multiple linear regression analysis. Findings – The results from multiple linear regression analysess indicate that intellectual capital significantly influences zakat performance at 5 percent alpha level. However, intellectual capital has no effect on zakat performance when variable of corporate governance is treated as an intervening variable. Implications – This research can be used in the future both as a literature review and as a reference material that can be used by zakat institutions, Islamic banking, and the government, especially in Indonesia in managing and determining strategies to improve future company performance.Originality – In general, research using sharia principles for each variable calculation (iB-VAIC and Zakat) are still limited. In addition, there is only a few researchers who use the corporate governance variable as an intervening variable.","PeriodicalId":34834,"journal":{"name":"Jurnal Ekonomi dan Keuangan Islam","volume":null,"pages":null},"PeriodicalIF":0.0,"publicationDate":"2022-08-03","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"84021147","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
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