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INDONESIA
Tazkia Islamic Finance and Business Review
ISSN : 24600717     EISSN : 24600717     DOI : -
Core Subject : Economy,
Tazkia Islamic Finance and Business Review (TIFBR) is a peer-reviewed journal published by the Institute for Research and Community Empowerment (IRCE), Tazkia University College of Islamic Economics in collaboration with Association of Islamic Economics Lecturers (ADESY). The Journal is semi-annual journal issued in July and December. The aim of the journal is to disseminate Islamic Economics, finance and business researches done by researchers both from Indonesia and overseas.
Arjuna Subject : -
Articles 123 Documents
PRIORITY BANKING SERVICES IN INDONESIA IN ISLAMIC PERSPECTIVES Syamlan, Yaser Taufik; Prawiro, Abdurrahman Misno Bambang
Tazkia Islamic Finance and Business Review Vol 13, No 1 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i1.202

Abstract

The purpose of the study is to analyze the practice of Priority Banking in Indonesia at PT. Bank Syariah Mandiri (hereinafter referred to as BSM), especially in the use of wadiah contracts in priority banking services. The research method is normative legal studies with analysis using Usul Fiqh to identify the presence or absence of usury in priority banking services. Data is obtained through observation techniques, direct interviews and document studies. The results of this study are that there are 3 types of Priority Banking Services offered to customers both from deposits with wadiah or mudharabah contracts, namely Financial Services, Non-Financial Services, and Special Programs for Priority Banking Customers. The three services are funded by BSM internal cash. Priority banking services conducted by BSM violated the provisions of the DSN-MUI fatwa No. 01/DSN-MUI/IV/2000 regarding Current Account and DSN-MUI fatwa No. 02/DSN-MUI/IV/2000 which states that the banks are not permitted to give bonuses if promised in advance. This study concludes that for services which yield material benefits that have a wadiah contract, then it is usury. However, if it yields immaterial benefits, it is not usury so that it is permitted.
DETERMINANTS OF CUSTOMER’S INTENTION TO USE MURABAHA FINANCING IN INDONESIA: MODIFIED THE TRA MODEL Nurfadilah, Dety; Samidi, Sudarmawan
Tazkia Islamic Finance and Business Review Vol 13, No 1 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i1.191

Abstract

This study aims to investigate factors influencing customer?s intention to use murabaha financing in Indonesia, and to what extent do attitude, social influence, religious obligation, price mechanism, and government support affect customer?s intention to use murabaha financing in Indonesian Islamic banks. 200 customers of Bank Muamalat Indonesia and Bank Syariah Mandiri were collected through a semi-structured questionnaire. The study modifies the theory of reasoned action and extends the earlier research conducted by Amin et al. (2011) and Ali et al. (2015). The findings show that attitude, social influence, government support, and price mechanism have a positive and strong relationship with intention to use murabaha financing. In the contrary, the religious obligation is not the main factors that determine the customer?s intention to use murabaha financing. The findings have practical implications to fill the gap between the current practices of Islamic banks and perception from a consumer point of view. This study also analyzed possible variables that may influence the strategies to attract more customers to use murabaha financing and increase Islamic bank?s market share. To the best of author?s knowledge, this is the first study which modified the TRA model in the context of murabaha financing in Indonesian Islamic Banks. 
FRONT MATTER VOL. 13 (1), 2019 akbar, nashr
Tazkia Islamic Finance and Business Review Vol 13, No 1 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i1.204

Abstract

ANALYSIS OF NAZHIR ACCOUNTABILITY IMPLEMENTATION IN EMPOWERMENT OF PRODUCTIVE WAQF IN INDONESIA Astuti, Henik Hari; Tanjung, Hendri
Tazkia Islamic Finance and Business Review Vol 13, No 1 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i1.199

Abstract

This study aims to find constraints or problems in applying accountability, find solutions and strategies that can be done by nazhir and related institutions, namely Ministry of Religion and BWI using the ANP (Analytical Network Process) method. This research was conducted in the period 2015 to 2018. The results of this study indicate that many problems in the implementation of accountability include people's understanding of waqf is still low, nazhir is not professional, the system is inadequate, nazhir is not transparent and BWI and Ministry of Religion are not optimal. The implications of this research are in the form of a theory of problem mapping formulation, accountability strategies and solutions that can be applied by nazhir, BWI and Ministry of Religion as productive waqf management organisations to increase their productivity to improve the welfare of the people.
BACK MATTER VOL. 13 (1), 2019 akbar, nashr
Tazkia Islamic Finance and Business Review Vol 13, No 1 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i1.205

Abstract

AN ANALYSIS OF THE EFFECT OF FASHION CONSCIOUSNESS AS A MEDIATING FACTOR ON HIJAB FASHION CONSUMPTION IN INDONESIA Edastami, Mayangsari; -, Miyasto; Mahfudz, Akhmad Affandi
Tazkia Islamic Finance and Business Review Vol 13, No 1 (2019)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30993/tifbr.v13i1.200

Abstract

This research aims to analyze the influence factors in fashion consciousness on consumers in Indonesia, especially in relation to consumption of hijab-fashion. This matter is affected by the increasing of halal fashion industry in the world. Beside that, Indonesia is a country with large number of consumption in Hijab-fashion industry. So it is important to know about the contribution of aspects of fashion consciousness to the interest of these onsumen in consuming hijab-fashion. This study focus to the factors that influence fashion consciousness and consumption of hijab-fashion in Indonesia. These factors are religiosity, dressing style, source of knowledge, fashion motivation, and uniqueness also tha fashion consciousness as a intervening variable. This study use a structural equation model by analyzing the facts that have occurred. In this study, the primary data was collected using questionaire with a total of 483 respondents. In this study the first interesting finding was that religiosity has a negative effect to hijab fashion consciousness. Furthermore, there is a positive significant influence on dressing style and fashion motivation in fashion consciousness, but there is no significant influence on the source of knowledge and the uniqueness in the fashion consciousness. This study also found that fashion consciousness has a significant effect on the consumption of hijab-fashion in Indonesia. By looking at the results of this study, it is hoped that it can be useful especially for hijab-fashion manufacturers and industru in Indonesia in considering a more effective strategy in attracting the attention of Muslim consumers in Indonesia. Producers are expected to be able to provide the consumer expectations, especially for religious consumers. Because religious consumers will be more critical in decision related to the selection of fashion models and consumption of hijab-fashion. Thus, producers must provide fashionable product innovations in accordance with the criteria and regulations stipulated in the Islamic religion. So that religious consumers feel comfortable in consuming the modest of hijab-fashion.
An Analysis of Yusuf (AS)s Counter-Cyclical Principle and its Implementation in the Modern World Ahmed, Jameel; Mydin Meera, Ahamed Kameel; Collins, Patrick
Tazkia Islamic Finance and Business Review Vol 7, No 2 (2012)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1215.942 KB)

Abstract

Objective - This study examines the present-day implementation of the counter-cyclical principle suggested by Yusuf (AS) around four thousand years ago, in response to the King of Egypts dream, to overcome the famine of seven years through saving grain during seven years of abundance. In general, the counter-cyclical principle encourages saving during times of plenty and spending during times of scarcity, activities which today help to stabilise the business-cycle.Method - Library research is applied since this paper relies on secondary data by thoroughly reviewing the most relevant literature. This paper reviews the commodity-based currency systems proposed before, during and after the Second World War by several prominent economists (particularly Keynes, 1938; Graham, 1940; Hayek, 1943; Grondona, 1950 and Lietaer, 2001) all of which basically incorporated the counter-cyclical principle of Prophet Yusuf (AS). The primary purpose of these commodity-based currency systems is to stabilise the real value of money in order to improve macroeconomic stability. Additionally, this paper provides an in-depth analysis of Grondona system of conditional currency convertibility.Results - The Grondona system would partially stabilise the real value of each countrys national currency in terms of a range of durable, essential, basic imported commodities, thereby also partially stabilising the prices of the selected commodities in terms of the national currency of each country implementing the system.Conclusion - The Grondona system of conditional currency convertibility as compared to other commodity-based currency systems is more practical. Its primary advantage in comparison to other proposals of commodity reserve currency is that it could be implemented in parallel with the existing monetary system. Accordingly, it could be taken as a preliminary step towards a monetary system based on real money such as gold dinar.Keywords : Counter-cyclical principle; Grondona system; Commodity-based currency system (s).
Corporate Social Responsibility And Islamic Business Organizations: A Proposed Model Muhamad, Rusnah; Muwazir, Mohd Rizal
Tazkia Islamic Finance and Business Review Vol 3, No 1 (2008)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (391.789 KB)

Abstract

The issue of corporate social responsibility (CSR) has been of growing concern among business communities in recent years. Various corporate leaders maintain that business is considered to contribute fully to the society if it is effi cient, profi table and socially responsible. Islam is considered as addin (a way of life), thus, providing comprehensive guidelines in every aspects of the believers’ life. It is the aim of this paper to propose an Islamic model of corporate social responsibility based on human relationships with the God (hablun min’Allah); with other fellow human being (hablun min’an-nas) and with the environment.Keywords : Corporate Social Responsibility, Islamic Business Organization
ANALISIS DETERMINAN PERINGKAT SUKUK DAN PERINGKAT OBLIGASI DI INDONESIA Sudaryanti, Neneng; Mahfud, Akhmad Affandi; Wulandari, Ries
Tazkia Islamic Finance and Business Review Vol 6, No 2 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (649.737 KB)

Abstract

This study attempts to analyze the determinants of sukuk and bond rating in Indonesia. The purpose of this study is to determine factors influencing sukuk and bond rating using separate test. The study uses financial and non financial ratios such as company growth, firm size, profitability, liquidity, leverage ratio, and sukuk and bond maturity. This study examines corporate sukuk and bond that listed from 2004-2006 (9 sukuk and 15 bonds) at Indonesian Stock Exchange for the period of 2007-2009. This research employs ordinal logistic regression. The result of the study reveales that only firm size variable determines sukuk rating while others are not (growth, profitability, liquidity, leverage ratio and maturity). Firm size, profitability, and maturity influences the bond rating above 5 years while growth, liquidity, and leverage ratio are not significantly influence the bond rating.JEL Classification: E44,G11Key words: sukuk rating,bond rating,ordinal logistic regression
The Comparison of Sukuk and Bond Absorption; Deficit Budget Financing in Indonesia parisi, salman al; Rusydiana, Aam Slamet
Tazkia Islamic Finance and Business Review Vol 10, No 2 (2016)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (866.433 KB)

Abstract

Objectives: This study aims to analyze: (i) the comparison of sukuk and bond absorption in deficit budget financing; and (ii) which variable that has significant effect on deficit budget (Y1= equation 1), on bond (Y2= equation 2) and on sukuk (Y3 = equation 3).Method: This study uses Two Stage Least Square (2SLS) method. The data used is from Bank of Indonesia, BPS, Ministry of Finance, IDX, ministry of trade, with monthly data, February 2009 – December 2015.Results: The result shows that sukuk has a significant negative effect on deficit budget while bond has a significant positive effect on deficit budget. In addition, import has a significant negative effect on deficit budget while exchange rate variable has a significant positive effect on deficit budget (the first equation). BI rate has significant negative effect on bond, while SBI and deficit budget has significant positive effect on bond (the second equation). Then, Inflation and bond has significant positive effect on sukuk, while deficit budget has significant negative effect on sukuk (the third equation).Conclusion: Both sukuk and bond have significant correlation in increasing each of them. Furthermore, both sukuk and bond have significant effect on deficit budget.

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