cover
Contact Name
Eko Fajar Cahyono
Contact Email
ekofajarc@feb.unair.ac.id
Phone
+6285645454959
Journal Mail Official
aijief@journal.unair.ac.id
Editorial Address
Islamic Economics Departement Faculty Of Economics and Bussines Universitas Airlangga Jl. Airlangga No. 4-6, Surabaya 60286, Indonesia Telp. 031-5033642, 031-5036584 ext. 144, Fax 031 026288
Location
Kota surabaya,
Jawa timur
INDONESIA
Airlangga International Journal of Islamic Economics and Finance
Published by Universitas Airlangga
ISSN : 25799169     EISSN : 26158205     DOI : 10.20473/aijief.v3i2.23878
Core Subject : Economy,
Airlangga International Journal of Islamic Economic and finance (AIJIEF) publishes quality and in-depth analysis of current issues within Islamic finance and Islamic economics. The journal welcomes robust evidence-based empirical studies and results-focused case studies that share research in product development and clarify best practices. The central theme of the paper received in Airlangga International Journal of Islamic Economics and finance (AIJIEF) is the study of international Islamic economics and international Islamic finance. What is meant by the theme is a case study of Islamic economics and Islamic finance in the Asia Pacific region, especially Southeast Asia, or a case study of Islamic economics and Islamic wear that occurs in member countries of the Islamic Conference Organization. All the main themes mentioned in the previous paragraph Airlangga International Journal of Islamic Economic and Finance (AIJIEF) also accept papers with the themes of Islamic economics and Islamic finance. The spread of Islamic finance and Islamic economics include: 1. Islamic finance: Fundamentals, trends, and opportunities in Islamic Finance Islamic banking and financial markets Risk Management Corporate finance Investment strategy Islamic Sosial Finance Financial Planning Housing Finance Legal and regulatory issues 2. Islamic economics: Islamic Microeconomy Islamic Macroeconomy Islamic Monetary Economy Zakah, Waqf and Sadaqoh Economics of Natural Resource and Environment in Islamic Economics
Articles 30 Documents
COMPARISON OF ISLAMIC BANK PERFORMANCE AND CONVENTIONAL BANK PERFORMANCE IN PROVINCE WITH MUSLIM MAJORITY AND PROVINCE WITH NONMUSLIM MAJORITY POPULATION IN INDONESIA Cahyono, Eko Fajar; Mardianto, M Fariz Fadillah; Widiastuti, Tika
Airlangga International Journal of Islamic Economics and Finance Vol 1, No 2 (2018): July-December 2018
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v1i2.20844

Abstract

This study aims to examine the universality of Islamic banking services and products and conventional banks in Indonesia to test whether all circles both Muslims and non-Muslims can accept the services and products of Islamic banks and conventional banks. The method used using MANOVA ( Multivariate Analysis of Variance )  test by comparing the performance of Islamic banks and conventional banks represented by several indicators like third party fund and financing or lending in some provinces in Indonesia. There are two categories of provinces, namely the first category is the province of the province with the majority Muslim population and the second is the provincial category of provinces with non-Muslim majority population in Indonesia. There is no significant difference in the performance of third-party funding of Conventional Commercial and Islamic Banking in Provinces with Majority of Moslems and Non-Muslim Majority  Provinces. There is no significant difference in the performance of credit distribution of Conventional Commercial Banking and Islamic Comercial Banking in Provinces with Majority of Moslems and Non-Muslim Majority Provinces.
NOKEN LITERATION: A WISDOM LOCAL IN IMPROVING INVESTMENT AWARENESS COMMUNITIES Juniati, Wike
Airlangga International Journal of Islamic Economics and Finance Vol 2, No 2 (2019): July-December 2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v2i2.20642

Abstract

Noken literacy is a local wisdom program implemented by a literacycommunity in the land of Papua. This program was initiated with theaim of increasing the understanding of people in Papua about financialliteracy. The method of implementation is by conducting field trips anddirect assistance to the people involved in the economic activities of themarket center in the Jayapura area. What distinguishes this programfrom other programs is because of the uniqueness of the objects carriedby literacy activists when they go down to the field, namely a noken bag.Noken is one type of typical Papuan bag that has many philosophiesabout the Papuan people. It is hoped that the approach to using thisunique bag of Papua will make people interested in understanding aboutfinancial literacy carried out by literacy activists. So that the decline ofliteracy and financial inclusion in the Sharia capital market in Papuacan be overcome.  
ISLAMIC INVESTMENT AND HOW TO TAKE ADVANTAGE OF CAPITAL (THE CASE OF GLOBAL MERCHANTS IN THE CITY OF MATARAM, LOMBOK, INDONESIA) Busaini, Busaini
Airlangga International Journal of Islamic Economics and Finance Vol 1, No 1 (2018): JANUARY-JUNE 2018
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v1i1.10137

Abstract

This paper describes how the economic development of Islam in Indonesia and Islamic investment offender, specific investment is viewed from two musty mudharabah and ijarah. We know people are familiar with conventional investments that rely on the interest rate, but the author tries to see a bunch of people who do not invest based on the interest rate. Community groups in question are gold and pearl merchants in the city of Mataram; they traded with the islamic law principle informed with the actual quality of the goods, weighing, and make an appointment with either. Associated with investments, they provided capital among traders with profit sharing agreement at the end of the year, 60 percent to 40 percent owner of capital for business managers. Labor they take an average of 2 people for each trader with wage system 50 thousand rupiahs per day. Contribution to the development of economic gold traders Mataram is helpful in employment, supporting the development of West Nusa Tenggara Tourism, both domestic and abroad, especially in the area of increased income tax payments, an increase in the welfare of the community with many traders who perform the Hajj.
PUBLIC RELATIONS ACTIVITIES IN MALAYSIAN ISLAMIC BANKING: THE CASE OF BANK ISLAM MALAYSIA BERHAD (BIMB) Fauziyyah, Neneng Ela; Binti Mohamed, Erna Farina
Airlangga International Journal of Islamic Economics and Finance Vol 3, No 1 (2020): JANUARY-JUNE 2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v3i1.16864

Abstract

The public relations concept is a basic concept that must exist in various organizations. The strategy taken might be affected by or affect a cultural image. In the current world, Islamic institutions have emerged and grown rapidly. In particular, in the financial industry, Islamic banking in Malaysia has become a pioneer and evidently survives within the industry. Having said that, the public relations concept supposes to engage within their activities, also. But then, as Islamic values are being their foundation, it might influence their public relations strategy. Hence, the objective of this study is to observe the Islamic values that influencing the public relations and the cultural image strategy of the Islamic institution which primarily is Bank Islam Malaysia Berhad (BIMB). We chose them because Bank Islam is a first and pioneer of Islamic banking in Malaysia that expected to be a very Islamic banking version. By using a case study approach dependent on a circuit of culture (COC) model, this study found that Bank Islam as full-pledge Islamic banking has engaged with Islamic culture in their business activities and well-done in applying public relations strategies. Five elements of the COC framework consist of regulation, production, consumption, representation, and identity have been interlinked with the annual report as well as Bank Islam’s website.
THE ROLE OF MICROFINANCE IN POVERTY ALLEVIATIONS: CASE STUDY INDONESIA Yasin, Mohammad Zeqi
Airlangga International Journal of Islamic Economics and Finance Vol 3, No 2 (2020): JULY-DECEMBER 2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v3i2.23879

Abstract

The debate on whether microfinance genuinely alleviates poverty has captivatedmany researchers to investigate this issue. The results are mixed up and varied.Hence, this study aims to convey how the schemes of microfinance can deal with poverty, especially in Indonesia. Moreover, this study also investigates thesustainability of microfinance institutions in dealing with the trade-off betweensocial goal and profit goal. This study employs a descriptive analysis approach with literature study data collection technique. The discussion of this study reveals that the emergence of microfinance in Indonesia, in any ways, has had a significant role as a source of income for poor or micro entrepreneurs. The schemes of conventional and Islamic have also diversified opportunity to gain funding. However, the mix possible success of microfinance, either high-profit goal or high-social goal, have to be seriously concerned. In this regard, the finding implication of this study is that the management structure requires new approaches to avoid such possible mix results. As the involvement of microfinance with most of unexperienced debtors, microfinance institutions as creditor have to, at least, not only provide financial help for the poor, but also offer non-financial help such as training and good relationship. This can be organized along with extending the deeper credit outreach, even if, for absolute poor.
GOVERNMENT INTERVENTION IN DETERMINING PRICES ACCORDING TO IBN TAIMIYAH’S Nurfaizah, Khanifah
Airlangga International Journal of Islamic Economics and Finance Vol 2, No 2 (2019): July-December 2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v2i2.20821

Abstract

Government intervention in pricing, has always been debated among economists. Islam as a religion which the last has a good economic outlook in terms of micro, macro as well as domestic scale, regional and even international. Prophet was the first in Taimiyah’s book by the public regarding the intervention price, at the time of the Prophet give answers like the following hadith "From Anas bin Malik, he said: the price of goods once expensive at the time of the Prophet. then people said: Messenger of Allah, the prices to be expensive, set a standard price for us, the Messenger of Allah said: Surely it is God who sets the price, holding and distributing rizki, and indeed just hoped that I could meet Allah in a state no one among you who prosecute me because of the injustice in the bloodshed (killer) and treasures. "(HR. Abu Dawud, Ahmad, Tirmidhi and Ibn Majah)" based on the tradition is causing debate among scientists, they have a different view of these traditions. One of them Muslim scientist Ibn Taymiyyah who see his government intervention in pricing, Ibn Taymiyyah was found Ibn Taymiyyah, found the price to be considered by the forces of supply and demand. Due to a shortfall in production or a decrease in imports of goods requested. So, if the need to increase the number of goods, while the ability to provide it decreases, prices will naturally increased. Determines prices by Ibn Taymiyyah can be divided into two types, namely injustice and tyranny of elements. found the price to be considered by the forces of supply and demand. due to a shortfallin production or a decrease in imports of goods requested. So, if the need to increase the number of goods, while the ability to provide it decreases, prices will naturally increased. Determines prices by Ibn Taymiyyah can be divided into two types, namely injustice and tyranny of elements. found the price to be considered by the forces of supply and demand. due to a shortfall in production or a decrease in imports of goods requested. So, if the need to increase the number of goods, while the ability to provide it decreases, prices will naturally increased. Determines prices by Ibn Taymiyyah can be divided into two types, namely injustice and tyranny of elements. Intervention pricing allowed even obligatory in Islam for the benefit of welfaresociety.
A FAIRNESS MODEL BASED ON INTERVAL TYPE-2 FUZZY SET FOR ISLAMIC FINANCING SCORING IN INDONESIA Sidik, Galih Kurniawan; Djatna, Taufik
Airlangga International Journal of Islamic Economics and Finance Vol 1, No 1 (2018): JANUARY-JUNE 2018
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v1i1.10431

Abstract

Conventional credit scoring model could lead to serious and unfair problems because in certain case it would incriminate one party in financing. Islamic financing scoring model complies with Sharia rules and ensures fairness among parties. Currently, there are no certain rules on Islamic financing scoring model which lead to subjective judgments. In the subjective judgments, words could mean different things to different people. Thus, this paper proposed and deployed models for scoring of default risk level by using Interval Type-2 Fuzzy Set model to support the subjective judgments in maintaining Sharia rules. Installment amount and the sum of delay period has used as variables for that scoring. Interval Type-2 Fuzzy Set model was proposed to support the subjective judgments in maintaining Sharia rules. Beginning delay period also used as a weight to the risk scoring results. Besides that, this paper also proposed the method for computing real loss value. It has used as a basis for fines computation according to default risk level, bad debt expense, and installment weighted average.
ISLAMIC FINANCE IN SUSTAINABLE ECONOMY: EMPOWERMENT OF SUKUK WAKALAH TO BUILD WASTE INDUSTRY Farhand, Muhammad Zaid; Nurjanah, Putri Leli; Nurcholis, Muhammad
Airlangga International Journal of Islamic Economics and Finance Vol 3, No 1 (2020): JANUARY-JUNE 2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v3i1.20161

Abstract

The challenge that Indonesia faces in processing natural and non-biological natural resources is the problem of waste management. High population figures, as well as increased incomes, affect consumption patterns that lead to increased waste generation in Indonesia. It is projected that in 2030 - 2050 waste production will increase, the problem of waste management in Indonesia can be seen from the following indicators, namely the high amount of waste generated, the level of waste management services is still low, limited number of final landfills, waste management institutions and cost problem. To overcome this problem, the issuance of wakalah sukuk as a source of funding for the waste industry center is a solution that can be done by the government. This research uses descriptive analysis research methodology with literature study data collection techniques. In the discussion explained about the concept of sustainable economy and wakalah state sukuk scheme in providing technology procurement financing to the waste processing industry. This research concluded that the wakalah state sukuk could be an alternative financing for technology procurement for the waste industry in increasing the effectiveness and efficiency of the company so that it is more environmentally sound and appropriate with SDG's.
THE ECONOMICS OF IḤTIKĀR Rosyidi, Suherman
Airlangga International Journal of Islamic Economics and Finance Vol 1, No 2 (2018): July-December 2018
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v1i2.20823

Abstract

AbstracsIḥtikār is not a new problem in Islamic economics. The Prophet (peace be upon him) himself firmly stated that the perpetrator of iḥtikār are sinners. Nevertheless, Islamic thinkers, since the very beginning, not one voice in understanding this issue, both its meaning and the type of goods concerned. Among the modern Islamic economists, some interpret iḥtikār as monopoly, and some are simply declare it as an action of hoarding. They also not one voice in the matter of the type of goods hoarded; the majority stated that the goods that should not be hoarded is just food stuff alone, while others declare all items. This article will explain the issue.
HALAL INDUSTRY INFLUENCE ON STATE GDP - OIC COUNTRIES IN THE ASIAN REGION IN 2013 - 2016 Badi, Ahmad Samsul
Airlangga International Journal of Islamic Economics and Finance Vol 2, No 1 (2019): JANUARY-JUNE 2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v2i1.15472

Abstract

The purpose of this study is to Determine the relationship between the influence of Islamic finance, halal food and halal tourism to GDP in the OIC countries in 2013 - 2016. This is a quantitative study using data panel method. The Data used is secondary Data from Thomson Reuters in 2013 - 2016. The results Showed that Islamic finance, halal food and sharia tourism cumulatively to positively Affect show. From the results of the independent F-test in know that

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