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INDONESIA
IQTISHADIA
ISSN : 19790724     EISSN : 25023993     DOI : -
Core Subject : Economy,
IQTISHADIA, particularly focuses on the main problems in the development of the sciences of Islamic Business and economics areas. It covers Islamic management, Islamic Banking, Islamic Marketing, Islamic Human Resources, Islamic Finance, Zakah, Waqf, Poverty Alleviation, Islamic Public Finance, Monetary Economics, Economic Development, Maqasid al-Shariah, Institutional Economics, Behavioural Economics and Finance, Corporate Governance, Risk Management, Shariah issues, Financial Engineering, Securitization and Sukuk, Islamic Capital Markets, Insurance and Takaful, Regulatory Issues, Corporate Social Responsibility in Islam and other topics which related to this area.
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Articles 9 Documents
Search results for , issue " Vol 11, No 1 (2018): IQTISHADIA" : 9 Documents clear
INTELLECTUAL CAPITAL APPROACH FOR A BETTER CORPORATE GOVERNANCE OF SHARIA BANKING Purnomo, Hadi
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.3204

Abstract

AbstractThe Implementation of corporate governance of sharia banking in Indonesia has not been effective. Sharia banking in Indonesia do not yet have a standard of sharia governance framework as a guideline for the implementation of corporate governance. This study was conducted to analyze the implementation of corporate governance and intellectual capital condition of sharia banks, and to develop a more effective model of corporate governance by using the approach of intellectual capital. The data came from the annual financial statements of 12 Sharia Commercial Banks (BUS), and information based on answers to questionnaires by sharia banking practitioners. The results of this study indicate that the condition of intellectual capital contributes to the performance of BUS, while the implementation of corporate governance does not contribute significantly. However, corporate governance and intellectual capital contribute simultaneously to the performance of BUS. The implication based on finding indicated that intellectual capital can be developed as a basic for implementation of corporate governance in sharia banking. This is a new approach because the concept of corporate governance is generally more focused on rules and policies, it is rare to consider a holistic approach and align with the conditions of the companys intellectual capital.Keywords: corporate governance; intellectual capital; sharia commercial bank (BUS); sharia governance framework
The Impact of Corporate Culture on Marketing Performance Fathoni, Muhammad Anwar; Rodoni, Ahmad
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.2847

Abstract

ABSTRACT The purpose of this study is to determine the typology of corporate culture of Islamic banking. This study also aims to determine the influence of corporate culture of Islamic banking on marketing performance.This study proves that the corporate culture of Islamic banking that accommodates the Islamic teaching has influence on marketing performance.This study is a comparative study between Bank Muamalat and BNI Syariah. Mixed method is used in this study to analyze collected data. The primary data obtained through survey and interview with employees of the Islamic bank. While secondary data obtained from the annual report documentation, books and articles in scientific journals and other sources that relevant to the research. Keywords: Corporate Culture, Marketing Performance, Islamic Banking
Analysis on the Effect of Deposits and Financing on The Net Income (SHU) at KPN Al Ikhlas IAIN Batusangkar Rizal, R.; David, D.; Fitri, Sri Adella; Ramadanis, R.
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.2941

Abstract

Cooperative is an institution founded by and for the members with the purpose to prosper the members with maximum achievement of outcome. The phenomenon that happened in Sharia civil servant cooperative Al-Ikhlas in IAIN Batusangkar from year of 2015 until the closing book in 2016, shows that member deposits and financing toward members has increased. Meanwhile, the net income is decreased. This phenomenon is interesting to investigate because it seems like the increasing of deposits and financing do not influence the net income. Consequently, This research aims to analysis the effect of deposit, such as special obligatory deposit, financing deposit and financing simultaneously and partially towards net income (SHU) at sharia civil servant cooperative (KPN) Al Ikhlas IAIN Batusangkar. This is a field research with quantitative approach during the year of 2015 and 2016 as the secondary data. The Result of this research shows that partially, merely financing that has effect towards net income (SHU) with significance level accost 6% that is 0.059 on wald value in the amount of 3,561.While basic contribution, obligatory deposit, special obligatory deposit, financing deposit have no significant effect on net income (SHU). Furhtermore, the amount of basic contribution effect, obligatory deposit effect, special obligatory deposit effect, financing deposit and financing simultaneously on net income (SHU) is 57.2%, while the remaining 42.8% is influenced by other factors that not examined in this research. It is suggested to the management of this sharia cooperative to find out another halal finance to increase financing so it can increase net income such as increasing member participation by gaining the amount of deposits. 
Contribution of National Sharia Council Fatwa of Indonesian Council of Ulama (DSN-MUI) in The Islamic Economic Development in Indonesia Kasdi, Abdurrohman
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.3187

Abstract

This research aims to identify the contribution of fatwa (Islamic instructions of rules) from DSN-MUI in developing the theories and practices of the Islamic economics in Indonesia. The research method used is qualitative, which consists of 116 fatwa DSN-MUI as the main subjects of study. The collected data had been analyzed using content analysis method by creating inimitable and valid data inferences related to its context. The results show that DSN-MUI is the only institution mandated by the law to establish fatwa on Islamic economics and finance, and to provide the provisions of Islamic law toward the Islamic financial institutions in carrying out their activities. Since its establishment in 1998, the roles of DSN-MUI are enormous in laying the foundations of the development of Islamic economics in Indonesia. Until the end of 2017, DSN-MUI has issued 116 fatwa on Islamic economics and finances. Even, DSN-MUI has a very important and strategic role in developing and applying sharia values in the economic field. MUI's important and strategic roles are shown from its position as a pioneer in socialization, internalization, and triggering the Islamic economic growth in Indonesia. 
The Study of Fraud in Financial Institutions (Analysis of the Theory of Fraud Triangle in Perspective of Islamic Sharia) Nadhirin, N.; Husnurrosyidah, H.
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.3354

Abstract

This research aims to (1) reveal the fraud practices and the factors that caused it, (2) understand and analyze the practices of fraud in the perspective of the theory of triangle of fraud and fraud in the Islamic perspective (3) find the pattern prevention of practice fraud. This study used a qualitative approach. Engineering data collection with interviews, observation and documentation. The location of this research on BPR Mandiri Arta Abadi, Semarang. The subject of this research include leadership of the BPR, customers and some employees. The validity of the data was tested with triangulation, include angulasi techniques, resources and time. Data were analyzed with the interactive silkus technique, namely, collecting, reducing, displaying and verifying. The research found that fraud was done by because many factors, both factors that is internal or external. Internally the offender committing fraud because the urge to want to earn more income outside official income received. A sense of responsibility both morally and awareness religions are less well encourage perpetrators to commit fraud. The academic level of education principals, pushing data to rationalize, and make a decision. The external pressure that is encouraging the perpetrators of fraud are due to the pressure of the needs and desires of your family and those near loved as well as supply of goods and services that encourage actors to do the fraud at work. Approach to fraud from the perspective of Sharia and triangle, resulting in a more comprehensive understanding of fraud, academic, ethical and transcendental. So with a comprehensive understanding of this, is able to prevent acts of fraud in financial institutions.
ANALYSIS OF INDONESIA’S ISLAMIC BANKING BANKRUPTCY PREDICTION FOR PERIOD 2014-2016 Bawono, Anton; Setyaningrum, Aisyah
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.3141

Abstract

The background of this study was based on market share of Isalmic banks in which it is only 5% of National Banks in Indonesia. This indicates ineffective Islamic banks performance. Therefore it will lead to the bankruptcy. Assessing bankruptcy required deep assessment of company performance through its financial ratios; these are Working Capital to Total Assets (WCTA), Earnings Before Interest and Tax to Total Assets (EBITTA), Retained Earnings to Total Assets (RETA) and Book Value of Equity to Book Value of Total Debt (BVEBVTD). The purpose of this study was intended to explain about the influence of those financial ratios on bankruptcy prediction of banks based on Altman Z-Score Model.The data was conducted through indirect observation from quarterly financial report of banks for period 2014-2016. The samples were 11 Sharia banks from 13 Sharia banks listed on Indonesia Financial Services Authority (OJK-RI) by January 2017. The process of analysis was started by conducting Stationery analysis then Regression analysis, the test of assumptions and Multiple Discriminant Analysis (MDA).The result suggests that WCTA, EBITTA and BVEBVTD variable show positive and significance effect on bankruptcy prediction, while the RETA variable shows negative and insignificance. Based on this study, there are only two variables, WCTA and BVEBVTD, that couldpredict bankruptcy with 98.2% accuracy.
The Determinants of Dividend Payout: Evidence from the Malaysian Property Market Chun Lin, Ong; Mohd Thas Thaker, Hassanudin; Khaliq, Ahmad; Mohd Thas Thaker, Mohamed Asmy
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.3157

Abstract

The paper aims to investigate the determinants of dividend payout among the Malaysian property companies. The sample size consists of 30 property listed companies on Bursa Malaysia. The data are generally obtained from the company’s annual report for the period of 2012 to 2016. The study employs multiple regression analysis to examine the influence of firms specific and macroeconomic variables on dividend payout. Result of the test shows that the dividend payout has a significant negative relationship with ownership structure and positive relationship on return on equity, quick ratio and GDP. The study instigates to enrich the literature on dividend determinants especially in the context of Malaysia.
Profitability Determinants of Kuwait Banking Industry: Comparative Analysis between Islamic and Conventional Banks Abduh, Muhamad; Issa, Mohamed Saeed
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.2834

Abstract

This study is aimed at evaluating the impact bank specific and macroeconomic variables including the global financial crisis upon the performance of Islamic and conventional banks in Kuwait. The data are collected from nine banks operated in Kuwait over the period of 2005 to 2012 with four of them are Islamic banks and five are conventional banks. The ROA and ROE are used to measure profitability while the size, credit risk, bank diversification, efficiency, capital strength, and liquidity were used to measure bank specific variables. There are also three external variables that would be used to measure macroeconomic condition i.e. GDP growth, inflation, and financial crisis. The findings from pooled OLS have shown that credit risk, liquidity and efficiency significantly affecting profitability for both Islamic and conventional banks. For macroeconomic conditions, GDP is positively significantly affecting profitability of Islamic banking sector, while inflation is negatively affecting the profitability of conventional banking sector. The result also evidence that Islamic banking sector is more stable than the conventional banking sector in terms of their performance during and after the crisis period.
Obstacles and Solutions in Performing Islamic Financial Contracts Hoetoro, Arif
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah STAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.3200

Abstract

There are some obstacles faced by Islamic microfinance institutions in performing Islamic financial contracts as purely demanded by Islamic law. In case of Bayt al-Maal wa al-Tamweel (BMT), the application of Islamic financial contracts needs a special approach and innovation. By taking BMT Sidogiri of East Java as the research site, this study qualitatively evaluated the practice of murabahah, mudlarabah, and musharakah contracts conducted by such an insti-tution. In examining these obstacles, this study had conducted several in-depth interviews with the branch manajer of BMT Sidogiri of Malang City. The findings revealed that the obstacles in performing Islamic financial contracts are dominated by lack of knowledge, asymmetric information, limited cooperation among related institutions, opportunistic behavior, and lack of social capital. To overcome these obstacles, it is recommended that the practices of Islamic financial transactions were not only in line with shari’ah-compliant but also with shari’ah-based schemes.

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