EKONOMIKA SYARIAH : Journal of Economic Studies

Analysis of Asset and Financing Contribution to Islamic Banking Profit in Indonesia by Vector Autoregression (VAR) Method

Nofinawati, Dede Ruslan, Muhammad Fitri Rahmadana, Adanan Murroh Nasution — Mon, 30 Dec 2024 00:00:00 +0000

The profit growth of Islamic banks in Indonesia tends to decline from the Covid-19 period to date. However, the number of assets and the amount of financing of Islamic banks tend to increase from one period to the next. This article discusses the contribution of assets and financing to the profitability of Islamic banking in Indonesia. This article was created using quantitative research methods. The data comes from the Financial Services Authority (OJK), namely data related to the amount of profit, assets, and financing in the Sharia Banking Statistics report, especially Sharia Commercial Banks from 2019 to 2023. Then the analysis of the contribution between the variables of assets, financing and profits of Islamic banks was analyzed using an econometric approach, namely the Vector Auto Regression (VAR) Method. The results of this study show that the profit variable of the previous period has a negative contribution to the endogenous profit variable. However, asset and financing variables in the previous period contributed positively to endogenous profit variables. There has been no previous research that discusses the contribution of variable assets and financing to the profit of Islamic banking in Indonesia using Vector Autoregressive Models. In order for the profit of Islamic banks to always increase, Islamic banks must always increase the number of their assets by increasing the amount of financing disbursed.

Pertumbuhan laba bank syariah di Indonesia cenderung menurun dari periode Covid-19 hingga saat ini. Namun, jumlah aset dan jumlah pembiayaan bank syariah cenderung mengalami peningkatan dari satu periode ke periode berikutnya. Artikel ini membahas mengenai kontribusi aset dan pembiayaan terhadap profitabilitas perbankan syariah di Indonesia. Artikel ini dibuat dengan menggunakan metode penelitian kuantitatif. Data berasal dari Otoritas Jasa Keuangan (OJK), yaitu data terkait jumlah laba, aset, dan pembiayaan pada laporan Statistik Perbankan Syariah khususnya Bank Umum Syariah dari tahun 2019 sampai dengan tahun 2023. Kemudian analisis kontribusi antara variabel aset, pembiayaan dan laba bank syariah dianalisis dengan menggunakan pendekatan ekonometrika yaitu Metode Vector Auto Regression (VAR). Hasil temuan penelitian ini menunjukkan bahwa variabel laba periode sebelumnya memiliki kontribusi negatif terhadap variabel laba endogen. Namun, variabel aset dan pembiayaan periode sebelumnya berkontribusi positif terhadap variabel laba endogen. Belum ada penelitian sebelumnya yang membahas mengenai kontribusi variabel aset dan pembiayaan terhadap laba perbankan syariah di Indonesia dengan menggunakan Vector Autoregressive Models. Agar laba bank syariah selalu meningkat, maka bank syariah harus selalu meningkatkan jumlah asetnya dengan cara meningkatkan jumlah pembiayaan yang disalurkan.

Subjective Well-Being, Religiosity, Trust, and Altruism: an Islamic Perspective

Rakhmawati, Fajar Fandi Atmaja — Mon, 30 Dec 2024 00:00:00 +0000

Subjective well-being (SWB) is often associated with increased productivity, creativity, innovation, and improved social relationships, all of which play a significant role in supporting a country's development. This research was carried out to examine SWB from an Islamic perspective. It also evaluated the importance of religiosity, trust, and altruism to SWB. The library research method was used in this research with data collected from journal articles, books, and the Qur’an. First, journal articles on the topic of SWB from an Islamic perspective were searched. Second, the Qur’an was examined to determine the references to the roles of religiosity, trust, and altruism. Third, the publications on the impact of religiosity, trust, and altruism were reviewed. The topic of SWB, from an Islamic perspective, is associated with happiness, as represented by the terms al-falah and al sa’adah. The implications are for individuals, educators, families, and governments to increase SWB through the enhancement of important indicators. The research strengthens empirical evidence on the positive impact of religiosity, trust, and altruism on SWB. It also proved that Islamic teachings on muamalat (social relations) are universal and provided benefits to non-Muslims.

Individu dengan kesejahteraan subjektif (subjective well-being/SWB) yang baik akan lebih produktif, kreatif, inovatif, dan memiliki hubungan sosial yang baik. Hal tersebut merupakan aspek penting dalam pembangunan suatu negara. Penelitian ini bertujuan untuk menganalisis SWB dari perspektif Islam serta bagaimana peran religiositas, kepercayaan, dan altruisme terhadap SWB. Penelitian ini menggunakan metode studi kepustakaan dengan data berasal dari artikel jurnal, buku, dan al-Qur’an. Pertama, artikel jurnal dengan topik SWB dalam perspektif Islam dibahas. Kedua, peran religiositas, kepercayaan dan altruisme dicari di dalam al-Qur’an. Ketiga, artikel jurnal terkait bukti empiris ketiga variabel tersebut terhadap SWB juga dibahas. Topik tentang SWB dalam perspektif Islam dihubungkan dengan kebahagiaan khususnya dengan istilah al-sa’adah dan al-falah. Implikasi dari penelitian ini adalah untuk individu, pendidik, keluarga, dan pemerintah untuk meningkatkan SWB melalui tiga variabel yang dibahas di sini. Penelitian ini menguatkan penelitian empiris bahwa ada peran positif dari religiositas, kepercayaan terhadap orang lain, dan sifat altruisme dalam meningkatkan kebahagiaan. Penelitian ini juga memberikan bukti bahwa ajaran Islam dalam muamalat (hubungan sosial) bersifat universal dan memberikan manfaat pada manusia bahkan untuk yang tidak beragama Islam.

Optimization of Islamic Financial Schemes for MSMEs Development

Agus Ahmad Nasrulloh, Elis Nurhasanah, Heni Sukmawati, Joni Joni — Thu, 09 Jan 2025 00:00:00 +0000

Abstract

The growth rate of Micro, Small, and Medium Enterprises (MSMEs) in the City/District of Tasikmalaya has increased steadily over the past six years at around 6.18% annually. MSMEs face challenges related to capital and business development, and the proposed solution is cooperation with financial institutions. However, MSMEs find it difficult to obtain financing from formal financial institutions due to a lack of collateral and sufficient knowledge about financing schemes suitable for their businesses. As a result, MSMEs have to seek funding from non-formal lenders with ribawi contracts, which contradict Islamic principles and local regulations. This practice is also inconsistent with Local Regulation No. 7 of 2014 of Tasikmalaya City and Governor Regulation No. 1 of 2022 of West Java. The aim of this research is to analyze opportunities, challenges, and strategies for optimizing shariah finance in the MSME sector in Tasikmalaya City/Regency. The type of research carried out was descriptive research with a mixed-method approach (qualitative and quantitative) using the Analytic Network Process (ANP). There were 8 respondents in this research, consisting of academics, practitioners, and regulators of Islamic financial institutions in Tasikmalaya City/Regency. The research results show that there are four problems and four solutions to optimize Islamic financial schemes in developing MSMEs, namely community problems, institutions, access, and regulations. The problems and solutions that must be addressed are primarily in society. Massive Islamic financial education needs to continue to be carried out, supported by access to Islamic financing and also the government's firmness in supporting MSMEs through Islamic financial institutions.

Tingkat pertumbuhan UMKM di Kota/Kabupaten Tasikmalaya meningkat stabil selama enam tahun terakhir dengan pertumbuhan 6,18% setiap tahunnya. UMKM mengalami kendala terkait modal dan pengembangan usaha, dan solusi yang diusulkan adalah kerjasama dengan lembaga keuangan. Namun, UMKM kesulitan mendapatkan pembiayaan dari lembaga keuangan resmi karena tidak memiliki jaminan dan pengetahuan yang cukup tentang skema pembiayaan yang cocok untuk bisnis mereka. Akibatnya, UMKM harus mencari dana dari pemberi pinjaman non-formal dengan akad ribawi, yang bertentangan dengan prinsip Islam dan regulasi setempat. Praktik ini juga tidak sejalan dengan Peraturan Daerah Kota Tasikmalaya Nomor 7 Tahun 2014 dan Peraturan Gubernur Jawa Barat Nomor 1 Tahun 2022. Tujuan dari penelitian ini adalah untuk menganalisis peluang, tantangan dan strategi optimalisasi keuangan syariah pada sektor UMKM di Kota/Kabupaten Tasikmalaya. Jenis penelitian yang dilakukan adalah penelitian deskriptif dengan pendekatan Mixed Method (kualitatif dan kuantitatif) dengan menggunakan Analytic Network Process (ANP). Terdapat 8 orang responden dalam penelitian ini yang terdiri dari praktisi, akademisi, dan regulator lembaga keuangan syariah di Kota/Kabupaten Tasikmalaya. Hasil penelitian menunjukkan bahwa terdapat empat permasalahan dan empat solusi untuk mengoptimalkan skema keuangan syariah dalam mengembangkan UMKM, yaitu permasalahan masyarakat, kelembagaan, akses, regulasi. Permasalahan dan solusi yang harus dibenahi terutama pada masyarakat. Edukasi keuangan syariah secara masif perlu terus dilakukan, didukung dengan akses pembiayaan syariah dan juga ketegasan pemerintah dalam mendukung UMKM melalui lembaga keuangan syariah.

Measuring the Poverty of Productive Zakat Mustahik using the CIBEST Model

Yusril Firmansyah, Hari Sukarno, Nikmatul Masruroh — Mon, 30 Dec 2024 00:00:00 +0000

Abstract

The productive Zakat is expected to contribute to alleviating poverty. The productive zakat model is a sustainable charity model and is not consumptive, so it can be expected to contribute to poverty alleviation. So, this research has some purposes thethe first is to explore the formula about the problem of productive zakat management carried out by BAZNAS; secondly, to analyze the impact of productive zakat on poverty alleviaton; and thirdly, to measure the poverty of mustahik productive zakat using the CIBEST model. The problem is solved using a mixed-method approach, namely qualitative with case study type and quantitative methods with descriptive statistics type. In this study, using qualitative research methods were used first, then continued using quantitative. This research took place in Probolinggo. Regency. The results of this study, first, the management of productive zakat by BAZNAS Probolinggo Regency uses the GAG principle and uses the POAC management system. Second, productive zakat management has not had an impact on material poverty alleviation. Third, the poverty position of mustahik productive zakat using the CIBEST model, which is in quadrant II, it means that Mustahik has spiritual wealth and is materially poor.

Zakat produktif diharapkan bisa berkontribusi dalam mengentaskan kemiskinan. Model zakat produktif merupakan model charity yang berkelanjutan dan tidak bersifat konsumtif, sehingga bisa diharapkan bisa memberikan kontribusi pada pengentasan kemiskinan. Sehingga penelitian ini memiliki tujuan pertama mengeksplorasi tentang masalah pengelolaan zakat produktif yang dilaksanakan oleh BAZNAS, kedua, menganalisis dampak zakat produktif dalam pengentasan kemiskinan, ketiga mengukur kemiskinan mustahik zakat produktif dengan menggunakan model CIBEST. Masalah tersebut diselesaikan menggunakan pendekatan mix method, yaitu metode kualitatif dengan jenis studi kasus dan kuantitatif dengan jenis statistik deskriptif. Dalam penelitian ini menggunakan metode penelitian kualitatif terlebih dahulu, kemudian dilanjutkan menggunakan kuantitatif. Penelitian ini mengambil objek di Kabupaten Probolinggo. Hasil penelitian ini, pertama pengelolaan zakat produktif oleh BAZNAS Kabupaten Probolinggo menggunakan prinsip GAG dan menggunakan sistem manajemen POAC, kedua pengelolaan zakat produktif belum memiliki dampak bagi pengentasan kemiskinan secara materiil, ketiga posisi kemiskinan mustahik zakat produktif dengan model CIBEST, yaitu pada kuadran II artinya mustahik memiliki kekayaan secara spiritual dan miskin secara material.

Extended Factors for Theory of Planned Behavior on Organic Food Consumption: A Review

Oky Primaroni, Tiara Septirosya — Mon, 30 Dec 2024 00:00:00 +0000

Damage to land caused by conventional farming, as a result of the use of synthetic fertilizers and pesticides, threatens future food availability. Organic farming is considered one of the efforts to implement sustainable agriculture. Consumer preferences need to be directed towards consuming organic agricultural products, but there are still many other factors influencing this behavior. Numerous studies have been conducted to assess consumer behavior. Some of these studies use the Theory of Planned Behavior (TPB) model to determine whether or not a specific behavior is performed. The Theory of Planned Behavior (TPB) model still needs to be integrated with other factors that also influence the adoption of a particular behavior. This study aims to propose an alternative model based on the Theory of Planned Behavior (TPB) to understand consumer behavioral intentions regarding the consumption of organic food. A descriptive method with a systematic review approach was used in this study based on a review of articles related to consumer behavior in the organic food domain. An alternative model of the Theory of Planned Behavior (TPB), with several additional influencing factors such as Religiosity, Health Consciousness, Environmental Consciousness, Price Barrier, Trust, Availability, and Knowledge, is provided as input for researchers, practitioners, and policy makers.

The Role of DSN-MUI Fatwa No.153/DSN-MUI/VI/2022 in Realizing Consumer Protection in The Islamic Banking Sector

Irham Anas, A.R. Zulfikar Alfarouq ; Atiqoh Nasution — Mon, 30 Dec 2024 00:00:00 +0000

Murabahah financing, a sale-based model, is one of the key instruments in Islamic banking but faces challenges in Indonesia. One major issue is early repayment, where customers struggle to secure fair discounts, causing dissatisfaction and debates. To address this, the National Sharia Council of the Indonesian Ulama Council (DSN-MUI) issued Fatwa No. 153/DSN-MUI/VI/2022, mandating Islamic banks to provide early repayment discounts as a compulsory provision rather than a discretionary policy. This study aims to analyze the implications of the fatwa on Murabahah financing and identify strategies for its implementation in Islamic banking. A qualitative research method was employed, involving content analysis of the fatwa, Islamic banking regulations, and expert interviews. The results reveal that the fatwa provides legal clarity, ensuring discounts are obligatory, thereby addressing customers’ concerns and fostering fairness. Additionally, the study highlights key strategies, such as integrating discount calculation mechanisms in financing agreements, revising operational guidelines, applying historical cost criteria for determining ta’widh fees and adjustment of the calculation formula of PU-PMSJT in the financing product guidelines for Murabahah in Islamic banking. These measures promote mutual benefits for customers and banks, enhancing trust and sustainability in the Islamic finance ecosystem.

Pembiayaan Murabahah, sebagai model berbasis jual beli, merupakan salah satu instrumen utama dalam perbankan syariah, namun menghadapi tantangan di Indonesia. Salah satu masalah utama adalah pelunasan dipercepat, di mana nasabah kesulitan mendapatkan potongan pelunasan yang adil, sehingga menimbulkan ketidakpuasan dan perdebatan. Untuk mengatasi masalah ini, Dewan Syariah Nasional Majelis Ulama Indonesia (DSN-MUI) mengeluarkan Fatwa No. 153/DSN-MUI/VI/2022 yang mewajibkan bank syariah memberikan potongan pelunasan dipercepat sebagai ketentuan wajib, bukan kebijakan diskresi. Penelitian ini bertujuan untuk menganalisis implikasi fatwa tersebut terhadap pembiayaan Murabahah dan mengidentifikasi strategi penerapannya dalam perbankan syariah. Metode penelitian kualitatif digunakan, meliputi analisis konten terhadap dokumen fatwa, regulasi perbankan syariah, dan wawancara dengan para ahli. Hasil penelitian menunjukkan bahwa fatwa ini memberikan kejelasan hukum, memastikan potongan pelunasan menjadi kewajiban, sehingga menjawab kekhawatiran nasabah dan meningkatkan keadilan. Selain itu, penelitian ini menyoroti strategi utama seperti mengintegrasikan mekanisme perhitungan potongan pelunasan dalam perjanjian pembiayaan, merevisi pedoman operasional, menerapkan kriteria biaya historis untuk menentukan ta’widh atas pelunasan dipercepat dan penyesuaian formula perhitunganPU-PMSJT pada buku pedoman produk pembiayaan murabahah perbankan syariah. Langkah-langkah ini mendorong manfaat bersama bagi nasabah dan bank, sekaligus memperkuat kepercayaan dan keberlanjutan dalam ekosistem keuangan syariah.

The Effectiveness of Sharia Audit in Islamic Financial Institution

Sandra Ayu Ayu, Maisya Pratiwi, Wemi Aryuna — Mon, 30 Dec 2024 00:00:00 +0000

Sharia audit in Islamic financial institutions plays an important role in ensuring that operations, products, and services offered are in accordance with sharia principles to maintain the integrity, transparency, and accountability of the institution. However, sharia auditors face various challenges in conducting sharia audits, such as technical issues, lack of management support, and the absence of comprehensive sharia auditing standards. This qualitative research aims to describe the effectiveness of sharia audit implementation by analyzing the audit framework and audit work papers at Bank Nagari Syariah Business Unit through a phenomenological approach, with data collected through in-depth interviews with bank leaders. The results showed that the implemented sharia audit framework includes the structure of the sharia supervision organization, the scope of the audit, to reporting and follow-up. Sharia audits are proven to increase customer confidence as they provide assurance that the bank's products and services have undergone strict supervision in accordance with sharia principles. Ongoing monitoring from OJK and regular audits by external auditors help maintain audit quality and effectiveness, creating a robust compliance system that contributes to the stability, accountability and reputation of banks in the Islamic finance industry.

Audit syariah pada lembaga keuangan syariah berperan penting dalam memastikan operasional, produk, dan layanan yang ditawarkan sesuai dengan prinsip-prinsip syariah untuk menjaga integritas, transparansi, dan akuntabilitas lembaga. Namun, auditor syariah menghadapi bermacam tantangan dalam pelaksanaan audit syariah, seperti permasalahan teknis, kurangnya dukungan manajemen, dan belum adanya standar audit syariah yang komprehensif. Penelitian kualitatif ini bertujuan mendeskripsikan efektivitas pelaksanaan audit syariah dengan menganalisis kerangka kerja audit dan kertas kerja audit di Bank Nagari Unit Usaha Syariah melalui pendekatan fenomenologis, dengan data yang dikumpulkan melalui wawancara mendalam kepada pimpinan bank. Hasil penelitian menunjukkan bahwa kerangka kerja audit syariah yang diterapkan mencakup struktur organisasi pengawasan syariah, ruang lingkup audit, hingga pelaporan dan tindak lanjut. Audit syariah terbukti meningkatkan kepercayaan nasabah karena memberikan jaminan bahwa produk dan layanan bank telah melalui pengawasan ketat sesuai prinsip syariah. Pemantauan berkelanjutan dari OJK dan audit rutin oleh auditor eksternal turut menjaga kualitas dan efektivitas audit, menciptakan sistem kepatuhan kokoh yang berkontribusi pada stabilitas, akuntabilitas, dan reputasi bank dalam industri keuangan syariah.

The Role of Islamic Values in Married Women's Employment Decisions in Deli Serdang

Khairina Tambunan, Nuri Aslami, Taqiya Zahrowaini, Susana Paixão-Barradas — Mon, 30 Dec 2024 00:00:00 +0000

This study analyzes the factors influencing employment decisions among married women in Deli Serdang from an Islamic perspective. These decisions are shaped by social, economic, cultural, and religious factors, with Islamic ethics and Sharia serving as key considerations for women's roles, especially in economic activities outside the home. Using a quantitative approach with questionnaires and literature review, the study found that employment opportunities significantly affect work decisions, followed by age and family size. While income and education have no significant individual impact, all variables collectively contribute 62.7% to these decisions. Influential factors include family economic needs, social participation, family support, and understanding of women's roles in Islam. Islam permits women to work within Sharia guidelines, ensuring dignity and fulfilling family obligations. This research highlights the balance between women's roles in family and society in line with Islamic teachings.