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Contact Name
Aris Munandar
Contact Email
Aris Munandar
Phone
+6282145485255
Journal Mail Official
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Editorial Address
Jl. Laksda Adisucipto, Papringan, Caturtunggal, Kec. Depok, Kabupaten Sleman, Daerah Istimewa Yogyakarta 55281
Location
Kab. sleman,
Daerah istimewa yogyakarta
INDONESIA
Global Review of Islamic Economics and Business
ISSN : 23387920     EISSN : 23382619     DOI : -
Core Subject : Economy,
The scope or coverage of this International journal will include but are not limited to: Islamic Economics, Islamic Business, Islamic banking, Islamic capital markets, Islamic wealth management, Issues on shariah implementation/practices of Islamic banking, Zakat and awqaf, Takaful, Islamic Corporate Finance, Shariah-compliant risk management, Islamic derivatives, Issues of Shari`ah Supervisory Boards, Islamic business ethics, Islamic Accounting, Islamic Auditing.
Articles 5 Documents
Search results for , issue "Vol 2, No 1 (2014)" : 5 Documents clear
Application of Islamic Consumer Theory: An Empirical Analysis in the Context of Bangladesh Hossain, Basharat
Global Review of Islamic Economics and Business Vol 2, No 1 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (432.795 KB) | DOI: 10.14421/grieb.2014.021-05

Abstract

One of the main goals of economics is to satisfy the wants of consumer. Like as conventional economics, Islamic economics has also its own law of consumption which is superior to that of conventional economics. This paper presents an empirical survey report on the application of Islamic consumer theory in Bangladesh.The survey is conducted on 184 graduate students of economics from university of Dhaka, Bangladesh. Besides, the consumption framework of Islamic economics has been discussed in this paper. The research finds that, the majority percent of respondents consider Halal (lawful), Haram (unlawful), economic disadvantages of other consumers, scope of reward and punishment in hereafter life (life after death) in their consumptions and other economic activities. The report explores that, though the wants is unlimited, the respondents are capable to control their wants and choose moderate and simple standard of living. In addition, they mentioned that, the use of interest is not essential to run economic activities and interest free economy is possible. It is found that, a large proportion of the respondents did not study Islamic economics due to unavailability of the reading materials in spite of having their interest while half of the respondents read it. Finally, the opinion is found that, religious and ethical instruments (Zakat, donation, hereafter life etc.) should be included in the syllabus of modern economics in school, college and university level. The findings satisfy the assumptions of Islamic consumption framework. Finally, it presents the problems, prospects and recommendations to apply the Islamic consumer theory in Bangladesh.
The Financing Problems Facing the Agricultural Sector in Nigeria and the Prospect of Waqf-Muzaraah-Supply Chain Model (WMSCM) Olaniyi, Oladokun Nafiu; Thaker, Mohamad Asmy Bin Mohd Thas; Thaker, Hassanudin Mohd Thas; Pitchay, Anwar Allah
Global Review of Islamic Economics and Business Vol 2, No 1 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (422.944 KB) | DOI: 10.14421/grieb.2014.021-01

Abstract

Agriculture sector becomes important sector in many developing countries including in Nigeria. The contribution of agricultural sector to the development of Nigeria is considerable. This important sector was the economic backbone upon which the government of the Federal Republic of Nigeria relied for its foreign exchange and revenue. A country was once a net exporter of agricultural products. However, since the discovery of oil in the early 1960, agricultural productivity has continually decreased due to many problems, especially related to financial aspect. Several programmes and policies have been adopted by various administrations to find solution to the dwindling agricultural productivity but to no avail. These solutions have mainly focused on alleviating the financial problems the farmers face. Usually financial intermediaries including banks would provide micro-financing to the farmers but with high interest rates coupled with collateral requirements. Hence, this mode of financing has not produced any significant result. This study will therefore examine problems facing agricultural sector in Nigeria with special emphasis on its financial aspect and propose a Waqf-MuzaraahSupply Chain model (WMSCM). Under this model, Waqf fund will be used for providing financial facility of the farmers. The relationship between farmers and financial institutions is based on partnership where profit and loss will be shared by both parties. This will enhance commitment by and cooperation among both parties to ensure the success of the business. Furthermore, the issues of collateral and high interest rate that constrain the financial ability of the farmers and their agricultural output are inherently solved by the model. Moreover, the model has features of investment and risk diversification for both the financial institutions and the farmers that will lead to high agricultural productivity and employment generation in the economy.
Financial Reporting Quality on Indonesia Islamic Banks: An Internal Stakeholders Perception Rini, R.
Global Review of Islamic Economics and Business Vol 2, No 1 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (542.946 KB) | DOI: 10.14421/grieb.2014.021-02

Abstract

This study describes financial reporting quality of 33 Islamic Banks in Indonesia. The data was taken by questionnaires from 173 respondents, consist of employees (head of group, head of division, and internal auditor), audit committee members, and sharia supervisory board members. The questionnaires consist of 24 questions with eight dimensions of research instruments, they are financial reporting quality (ie. timeliness, verifiability, completeness, representation faithfulness, neutrality, comparability, consistency and clarity). This research is qualitative, therefore using interpretive analysis as data analysis. The result shows that representative faithfulness is considered as the most important component by internal party of Islamic banks.
Testing the conditional correlations and volatility spillovers between US and ASEAN Islamic stock markets: A Multivariate GARCH Analysis Sakti, Muhammad Rizky Prima
Global Review of Islamic Economics and Business Vol 2, No 1 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (1081.029 KB) | DOI: 10.14421/grieb.2014.021-03

Abstract

This study examines the conditional correlations and volatility spillovers between the US and ASEAN Islamic stock markets. The empirical design uses MSCI (Morgan Stanley Capital International) Islamic indexes as it adopted stringent restriction to include companies in sharia list. By using a three multivariate GARCH models (BEKK, diagonal VECH, and CCC model), we find evidence of returns and volatility spillovers from the US to the ASEAN Islamic stock markets. However, as the estimated time-varying conditional correlations and volatilities indicate there is still a room for diversification benefits, particularly in the single markets. The Islamic MSCI of Thailand, Indonesia, and Singapore are less correlate to the US MSCI Islamic index. The implication is that foreign investors may benefit from the reduction of risk by adding the Islamic stocks in those countries.
Business Cycle and The Macroeconomics Performance: Evidence of Malaysia and Indonesia Qoyum, Abdul; Miftahussurur, M.; Matae, Al-Amin; Yousuf, Muhammad; Abdurrahman, A.
Global Review of Islamic Economics and Business Vol 2, No 1 (2014)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (560.668 KB) | DOI: 10.14421/grieb.2014.021-04

Abstract

Stable economic growth is the major macroeconomic goal which is all nations seek. Economist and policy makers have been tried to find the ways to sustain and maintain stable economic growth. This paper examines the macroeconomic fluctuations and economic growth in Malaysia and Indonesia and its determinant by using multiple regression models. Five variables were chosen for the model namely variables are Money supply (MS), Industrial production (IP), Interest rate (IR), exchange rate (ER), Consumer price Index (CPI) and stock prices. The study shows that Money supply (MS), Interest rate (IR), exchange rate (ER), and stock prices are among others, the determinant factors of macroeconomic fluctuations in both countries. Specifically, the empirical results reveal that Interest rate (IR), exchange rate (ER), and stock prices has significant contribution to the performance of real GDP in Malaysia while Money supply (MS) and exchange rate (ER) are the main cause of macroeconomic fluctuations in Indonesia. This may be due to the different monetary policies pursued by the two countries. The two countries might have different monetary policy strategies; Malaysia pursues interest rate targeting policy, whereas Indonesia applies inflation rate targeting policy.The study recommends for both countries government policies play an important role in economic performance. Therefore, a careful policy should be the foremost important factor for economic in these nations and the every country in general.

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