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The Effectiveness Of Productive Infaq-Based Community Economic Empowerment to The Small And Medium Enterprises (SMEs) Growth in Pekalongan 基于生产性信息的社区经济赋权对Pekalongan中小企业(SME)增长的有效性
Pub Date : 2021-06-25 DOI: 10.21043/IQTISHADIA.V14I1.7910
Nurfani Arisnawati
This study aims to find out (1) the procedure of distributing productive infaq to empower the SMEs’ economy and (2) the effectiveness of productive infaq-based economy empowerment for SMEs growth by BAZNAS through Sharia Financial Institutions in Pekalongan. This research applies a qualitative method using a phenomenology approach, where BAZNAS serves as the primary data. During data collection, this research uses triangulation: observation, interviews, and documentation. Additionally, the sample was selected based on a purposive sampling technique. This study finds out that productive infaq is allocated by sharia financial institutions. Also, the distribution of ZIS (alms and infaq) through the non-profit institutions does not apply profit sharing between BAZNAS and the institutions because it is under qardul hasan. BAZNAS utilizes the productive infaq to increase the capital for business people. If the business has achieved its targets and objectives, the program can be found to be effective. Infaq of Sharia Financial Institutions in 2017-2018 reached 160 million IDR that has been distributed to the SMEs. As a result, the distribution can be considered very effective and may need improvement to get economic growth in Pekalongan.
本研究旨在找出(1)分配生产性资金以赋能中小企业经济的程序,以及(2)BAZNAS透过北加隆岸的伊斯兰金融机构,以生产性资金为基础的经济赋能对中小企业成长的有效性。本研究采用现象学方法的定性方法,其中BAZNAS作为主要数据。在数据收集过程中,本研究使用三角测量法:观察、访谈和文献。此外,样本的选择是基于有目的的抽样技术。本研究发现,生产性收入是由伊斯兰金融机构分配的。此外,通过非营利机构分发的ZIS(救济品和津贴)不适用BAZNAS和机构之间的利润分享,因为它是在争吵中进行的。BAZNAS利用生产力来为商业人士增加资本。如果企业已经实现了它的目标和目的,那么这个计划就可以被认为是有效的。2017-2018年,伊斯兰金融机构的收入达到1.6亿印尼盾,已分配给中小企业。因此,这种分配可以被认为是非常有效的,可能需要改进,以实现北卡隆岸的经济增长。
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引用次数: 0
The Relationship between Love of Money, Islamic Religiosity and Life Satisfaction: a Muslim’s Perspective 从穆斯林视角看金钱之爱、伊斯兰宗教信仰与生活满意度的关系
Pub Date : 2020-06-17 DOI: 10.21043/iqtishadia.v13i1.7333
Arif - Hoetoro

This research scrutinizes the relationship between Love of Money (LOM), hedonic behavior and Islamic religiosity in pursuing life satisfaction in consumption. By utilizing accidental sampling method, the research then employed 99 customers who spent their money in one of the biggest department stores in Malang City. The calculation of data with SmartPLS-3.1.8 revealed that Islamic religiosity significantly affects live satisfaction (β = 0.290; ρ-value = 0.003). In the same time, LOM significantly influences hedonic behavior (β = 0.417; ρ-value = 0.000). However, hedonic behavior does not mediate the relationship between LOM and life satisfaction. This study accordingly concludes that Islamic religiosity plays a main role in consumption. Therefore, it is suggested that every Muslim have to instill Islamic religiosity in daily activities for obtaining life satisfaction.     


 


本研究考察了对金钱的热爱、享乐行为和伊斯兰宗教信仰在追求消费生活满意度方面的关系。采用偶然抽样的方法,该研究雇佣了99名顾客,他们在马朗市最大的百货公司之一消费。SmartPLS-3.1.8的数据计算表明,伊斯兰宗教信仰显著影响生活满意度(β=0.290;ρ-值=0.003)。同时,LOM显著影响享乐行为(β=0.417;ρ-价值=0.000)。然而,享乐行为并不介导LOM与生活满意度之间的关系。因此,本研究得出结论,伊斯兰宗教信仰在消费中起着主要作用。因此,建议每个穆斯林都必须在日常活动中灌输伊斯兰宗教信仰,以获得生活满意度。
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引用次数: 7
Zakah Rate In Islamic Stock Performance Models: Evidence From Indonesia 伊斯兰股票表现模型中的天课率:来自印度尼西亚的证据
Pub Date : 2020-06-15 DOI: 10.21043/iqtishadia.v13i1.6004
Mohammad Farhan Qudratullah
There are three models commonly used to measure the performance of Islamicstocks, named Treynor Ratio, Sharpe Ratio, and Jansen Index. One component of the three models is risk-free returns which are usually approached with interest rates, whereas interest rates are prohibited in the concept of Islamic finance. This paper will approach a risk-free return with zakat-rate on the Islamic capital market in Indonesia from January 2011 - July 2018, then compare it with a model that uses interest rates. The results obtained by the model with interest rates and zakah-rate in this third model have very high suitability values, so that zakah-rate can be used as an alternative substitute for interest rates in measuring the Islamic stock performance. Beside not contradicting the concept of Islamic economics, calculation of models with zakah-rate is simpler than models with interest rates.
有三种常用的模型来衡量伊斯兰股票的表现,分别是特雷诺比率、夏普比率和詹森指数。这三种模式的一个组成部分是无风险回报,通常用利率来计算,而在伊斯兰金融概念中,利率是被禁止的。本文将从2011年1月至2018年7月对印度尼西亚伊斯兰资本市场的天课利率进行无风险回报分析,并将其与使用利率的模型进行比较。第三种模型中利率与天卡率模型所得到的结果具有很高的适宜性值,因此天卡率可以替代利率作为衡量伊斯兰股票业绩的替代指标。除了不与伊斯兰经济学的概念相矛盾之外,用天课利率计算模型比用利率计算模型更简单。
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引用次数: 1
Islamic Financial Literacy, Promotion, and Brand Image Towards Saving Intention in Sharia Bank 伊斯兰金融知识、推广和品牌形象对伊斯兰银行储蓄意向的影响
Pub Date : 2020-06-15 DOI: 10.21043/iqtishadia.v13i1.6489
A. Rozikin, I. Sholekhah
This paper aims to empirically examine the relationship between Islamic financial literacy, promotion, and brand image and the intention of saving in Islamic banks. The data in the study were taken from 125 respondents. Respondents in this study were customers of Islamic banks, conventional banks, and were not yet customers of the two banks. This study uses quantitative research methods and analyzes the data using multiple regression models with SPSS 21 application. The results indicate that Islamic financial literacy, promotion, and brand image affect the intention to save in Islamic banks.
本文旨在实证检验伊斯兰银行的伊斯兰金融素养、促销、品牌形象与储蓄意愿之间的关系。研究中的数据来自125名受访者。这项研究中的受访者是伊斯兰银行和传统银行的客户,目前还不是这两家银行的客户。本研究采用定量研究方法,运用SPSS 21应用多元回归模型对数据进行分析。研究结果表明,伊斯兰金融素养、推广和品牌形象影响伊斯兰银行的储蓄意愿。
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引用次数: 15
Knowledge and Awareness of Islamic Financial in Europe And America Countries 欧美国家对伊斯兰金融的认识与意识
Pub Date : 2020-05-28 DOI: 10.21043/IQTISHADIA.V13I1.7207
E. Ernawati, M. Asri
This study aims to determine the correlation between knowledge and awareness with industrial development, state religious status and state location. The data is sourced from secondary references of IFG-IFDI publication for the 2019 period on 42 countries in the European and American Continent. Data is processed through correlation analysis. The results show that  Islamic financial knowledge correlates with the level of scientific awareness.  Islamic financial knowledge and awareness of Islamic finance are positively correlated with the development of 4 (four) segments of Islamic finance, namely: Islamic banking, takaful, other Islamic finance, and sukuk; and does not correlate with the Islamic funds. The countries with a Muslim majority population will be more active in developing activities related to the Islamic financial industry.  There other side, there is no significant correlation between knowledge and awareness of Islamic finance with the continet location of the country. The research findings recommend an inclusive awareness movement so that it unites the academic and the public aspects in Islamic financial campaigns.
本研究旨在确定知识和意识与工业发展、国家宗教地位和国家地理位置之间的相关性。数据来源于IFG-IFDI出版物2019年期间对欧洲和美洲大陆42个国家的二次参考。数据通过相关性分析进行处理。研究结果表明,伊斯兰金融知识与科学意识水平相关。伊斯兰金融知识和伊斯兰金融意识与伊斯兰金融的四(4)个部分的发展呈正相关,即:伊斯兰银行、takaful、其他伊斯兰金融和sukuk;与伊斯兰基金无关。穆斯林人口占多数的国家将更加积极地发展与伊斯兰金融业有关的活动。另一方面,伊斯兰金融的知识和意识与该国的大陆位置之间没有显著的相关性。研究结果建议开展一场包容性的意识运动,以便将伊斯兰金融运动中的学术和公共方面团结起来。
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引用次数: 2
Mashlaha in Financing Risk Measurement in Sharia Financing Institutions Sharia金融机构融资风险度量中的Mashlaha
Pub Date : 2019-10-23 DOI: 10.21043/iqtishadia.v12i2.4992
Salmah Said, A. Sofyan, A. Amiruddin

The crisis of confidence in the credit rating agency forced Islamic financing institutions to apply risk measurement methods independently and renewed the study of credit risk measurement. Moreover, this research also discusses mashlaha (public interest) in measuring financing risk. This research uses a mixed method approach, combining quantitative methods to measure risk by utilizing CreditRisk+, and qualitative methods in analyzing mashlaha in these measurements. This study revealed that CreditRisk+ is able to measure financing risk accurately. This study also found that there is mashlaha as part of maqashid al-sharia in risk measurement, namely 1) Tahdzib al-Fard, that makes a financial institution capable of independently measuring the risk of its own financing; 2) Iqamah al-Adl, independent measurement will create information justice by comparing measurement results both internally and externally. 3) Mashlaha itself, with internal risk measurement, will reduce systemic risk. The implications of this study is the use of mashlaha in analyzing financing risk provides more stringent prudential in the measurement of financing risk.

对信用评级机构的信心危机迫使伊斯兰金融机构独立应用风险计量方法,并重新启动了对信用风险计量的研究。此外,本研究还探讨了公共利益在衡量融资风险中的作用。本研究采用混合方法,结合定量方法利用CreditRisk+测量风险,并结合定性方法分析这些测量中的mashlaha。这项研究表明,CreditRisk+能够准确地衡量融资风险。这项研究还发现,在风险衡量中,mashlaha是伊斯兰教法的一部分,即1)Tahdzib al-Fard,它使金融机构能够独立衡量自己融资的风险;2) Iqamah al-Adl,独立测量将通过比较内部和外部的测量结果来创造信息正义。3) Mashlaha本身,通过内部风险衡量,将降低系统性风险。本研究的启示是,使用mashlaha分析融资风险为衡量融资风险提供了更严格的审慎性。
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引用次数: 1
The Implementation of Good Corporate Governance to Develop Islamic Micro Insurance In Indonesia 印尼实施良好公司治理发展伊斯兰小额保险
Pub Date : 2019-10-23 DOI: 10.21043/iqtishadia.v12i2.5508
I. Firmansyah
This study is aimed to find the best model in order to create Good Corporate Governance (GCG) for Islamic micro insurance development. The research methodology employed in this study was Analytic Network Process (ANP) using quantitative and qualitative approaches. The informants of this consist of practitioners, academia, and researchers who have good understanding of the problem. The finding of this study shows that the priority to embody good corporate governance principle in order to develop Islamic micro insurance in Indonesia namely, responsibilities, followed by equality and fairness, independences, accountability and transparency. In addition, the priorities of strategies that can be implemented to optimize GCG implementation are training and education for human resources, followed by focus on internal control mechanism, and the third is good corporate governance implementation in each level. The finding of this study also contributed to the best model of good corporate governance model to enhance Islamic micro insurance in Indonesia.
本研究旨在寻找最佳模式,为伊斯兰小额保险的发展创造良好的公司治理(GCG)。本研究采用的研究方法是使用定量和定性方法的分析网络过程(ANP)。这方面的信息提供者包括从业者、学术界和对问题有很好理解的研究人员。本研究结果表明,在印度尼西亚发展伊斯兰小额保险,优先体现良好的公司治理原则,即责任,其次是平等和公平、独立、问责制和透明度。此外,可以实施的优化GCG实施的战略的优先事项是人力资源培训和教育,其次是内部控制机制,第三是在各个层面实施良好的公司治理。本研究的发现也有助于建立印尼伊斯兰小额保险的最佳公司治理模式。
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引用次数: 4
Debt And Equity-Based Financing, Size And Islamic Banks Profitability: Empirical Evidence From Indonesia 基于债务和股权的融资、规模和伊斯兰银行盈利能力:来自印度尼西亚的经验证据
Pub Date : 2019-10-23 DOI: 10.21043/iqtishadia.v12i2.3539
Rofiul Wahyudi, Siti Mujibatun, Riduwan Riduwan

Islamic Banking as a financial institution functions to collect and distribute funds to the public. To carry out these functions, the capital structure scheme uses debt and equity based financing. In addition, the implementation is also influenced by the size which ultimately affect the performance of Islamic banking. This study aims to examine debt and equity-based financing, size and Islamic banks profitability: empirical evidence from Indonesia. The research method used is model estimation test of Moderated Regression Analysis (MRA) to see size as moderation variable. Banks profitability is represented by ROA and ROE. This study uses Islamic bank panel data from financial reports published during the sample period covering 2008-2017. The empirical findings show that debt and equity-based financing affect banks profitability. Furthemore, bank size does not moderate the debt and equity-based financing relationship to Islamic banks profitability.


伊斯兰银行作为一个金融机构,其职能是向公众收集和分配资金。为了实现这些功能,资本结构方案采用了基于债务和股权的融资方式。此外,实施也受到规模的影响,最终影响伊斯兰银行的业绩。本研究旨在考察以债务和股权为基础的融资、规模和伊斯兰银行盈利能力:来自印度尼西亚的经验证据。研究方法采用有调节回归分析(MRA)的模型估计检验,以规模为调节变量。银行盈利能力用ROA和ROE来表示。本研究使用了2008-2017年样本期间发布的财务报告中的伊斯兰银行面板数据。实证结果表明,债务融资和股权融资对银行盈利能力有影响。此外,银行规模并不会缓和债务和股权融资关系对伊斯兰银行盈利能力的影响。
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引用次数: 9
Is There Moral Hazard in Islamic Rural Bank Financing? 伊斯兰村镇银行融资存在道德风险吗?
Pub Date : 2019-10-23 DOI: 10.21043/iqtishadia.v12i2.3875
Adelia Oktarina, Idqan Fahmi, I. Beik
The credit market was identical to asymmetric information in it, both conventional and sharia credit markets. One of the forms of this asymmetric information was moral hazard. This study aimed to identify the existence of moral hazard in credit market (financing) by comparing the customer conditions in islamic rural bank and conventional rural bank. This study also intended to identify the factors influencing the moral hazard. The analysis used was logistic regression method. The result showed that islamic rural bank had a bigger potential to experience moral hazard compared to the conventional customers. Generally, the factors which influence the moral hazard such as age, business conditions, amount of financing, length of financing, and type of bank.
无论是传统信贷市场还是伊斯兰教法信贷市场,信贷市场都与信息不对称完全相同。这种不对称信息的一种形式是道德风险。本研究旨在通过比较伊斯兰村镇银行和传统村镇银行的客户状况,识别信贷市场(融资)中道德风险的存在。本研究还旨在确定影响道德风险的因素。分析采用逻辑回归法。结果表明,与传统客户相比,伊斯兰村镇银行存在更大的道德风险。一般来说,影响道德风险的因素包括年龄、商业条件、融资额、融资期限和银行类型。
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引用次数: 1
Shariah Screening Methodology: Does It ‘Really’ Shariah Compliance? 伊斯兰教法筛选方法:它“真的”符合伊斯兰教法吗?
Pub Date : 2019-10-23 DOI: 10.21043/iqtishadia.v12i2.5573
Abdullah Ayedh, A. Shaharuddin, M. Kamaruddin
The Shariah financial screening indices is to exclude companies with unacceptable levels of conventional debt, liquidity, interest-based investment and/or impure income. Ideally, companies must not borrow on the basis of interest rate, nor invest in debt-bearing instruments, as well as not generating income through any other Shariah-impermissible activities. However, such restrictions would screen out the vast majority - if not all - of the stocks that are available on the market, even those listed in Islamic countries. Based on this condition, Shariah scholars tried to come out with a set of Shariah indices to be tested on existing companies in order to classify them as Shariah-compliant companies. Thus, the aim of this paper is to explore and critically analyse comparison of Shariah screening methodology amongst major Shariah indices in the world. By applying the reviewing for all related literature and contents of Shariah screening’s laws and regulations. It can be stated that several group of Shariah indices can be categorized. Firstly, under qualitative measures (business activities), there are two groups which are: (i) financial activities orientation; and (ii) indic with non-financial activities orientation. Meanwhile, under quantitative measures (financial ratios), another several groups can be categorized based on different adoption in the nominator, denominator and tolerate percentage used. It is hoped that this work would inspire more research on Shariah screening using different research methods and compare between the indices according to segments this research argued. Besides, the policy makers should give more attention to ensure the Shariah screening practices and the enhancement Shariah screening standardizing among the major Shariah indices. Last but not least, investors and stakeholders whom concern of Shariah screening could also benefited of the findings of this study by having better understanding of Shariah screening practices and compare between existed indices.
Shariah财务筛选指数将传统债务、流动性、基于利息的投资和/或收入不纯正的公司排除在外。理想情况下,公司不得基于利率借款,也不得投资于有债务的工具,也不得通过任何其他伊斯兰教法不允许的活动产生收入。然而,这样的限制将屏蔽市场上绝大多数(如果不是全部的话)股票,即使是在伊斯兰国家上市的股票。基于这一条件,Shariah学者试图提出一套Shariah指数,对现有公司进行测试,以将其归类为符合Shariah的公司。因此,本文的目的是探索和批判性地分析Shariah筛查方法与世界上主要Shariah指数的比较。通过对Shariah筛查法律法规的所有相关文献和内容进行审查。可以说,可以对几组Shariah指数进行分类。首先,在定性指标(商业活动)下,有两组:(i)金融活动导向;以及(ii)以非金融活动为导向的指标。同时,在量化指标(财务比率)下,可以根据所使用的提名人、分母和容忍百分比的不同采用情况对其他几组进行分类。希望这项工作能激发更多关于Shariah筛查的研究,使用不同的研究方法,并根据这项研究所争论的细分市场对指标进行比较。此外,政策制定者应更加注意确保Shariah筛查实践和加强Shariah筛选在主要Shariah指数中的标准化。最后但并非最不重要的是,关注Shariah筛查的投资者和利益相关者也可以通过更好地了解Shariah筛选实践并比较现有指数而受益于本研究的结果。
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引用次数: 11
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Iqtishadia
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