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Tazkia Islamic Finance and Business Review
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.
Articles by issue : Vol 3, No 1 (2008)
4
Articles
Corporate Social Responsibility And Islamic Business Organizations: A Proposed Model

Muhamad, Rusnah ( University of Malaya Kuala Lumpur Malaysia ) , Muwazir, Mohd Rizal ( University of Malaya Kuala Lumpur Malaysia )

Tazkia Islamic Finance and Business Review Vol 3, No 1 (2008)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | 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

Why The Rate Of Financing In Islamic Banks Is High? An Analysis Based On Malaysian Case

Beik, Irfan Syauqi ( Department of Economics, Bogor Agricultural University ) , Arsyianti, Laily Dwi ( Alumnus of the International Islamic University, Malaysia )

Tazkia Islamic Finance and Business Review Vol 3, No 1 (2008)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (388.666 KB)

Abstract

Islamic banking has grown rapidly and has become fi nancial-nerve centre in today’s world economy, particularly in the last three decades. It has attracted various entrepreneurs and enterprises to get its fi nancing. However, Islamic banks tend to have a higher rate of fi nancing compared to the conventional ones. This less competitiveness encourage the demand for Islamic products may fall leaving the Islamic banks. Good debtors opted for conventional loans since the interest rates paid were relatively lower and the rest (the bad debtors) successfully made their way to Islamic banks. Therefore, the nonperforming financing of Islamic banks is high. This paper attempts to analyze factors that determine high rate of fi nancing in Islamic banks, by taking the case of Malaysian Islamic banks. In this paper, the top three of Islamic banks and conventional banks are selected for comparison. It finds that high default premium and overheads per capital contribute signifi cantly to the high fi nancing rate. Hence, the Islamic banks should diversify their assets and implement universal banking concept.Keywords: Islamic bank, rate of fi nancing, NPF (Non-Performing Financing), universal banking system

Analisis Strategi Promosi Kredit Pemilikan Rumah (KPR) Sistem Konvensional Dan Syariah (Studi Kasus : BTN Dan BTN Syariah Kantor Cabang Solo)

Najib, Mukhamad ( Tazkia University College of Islamic Economics ) , Munandar, Jono M. ( Department of Management Bogor Agricultural Institute ) , Setiyawati, Agustina ( Department of Management Bogor Agricultural Institute )

Tazkia Islamic Finance and Business Review Vol 3, No 1 (2008)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (468.205 KB)

Abstract

Residence is one of the primary needs for human being’s life, besides food, clothing, education, and healthy. Many of banks now, have started to offer a residence service product (Kredit Pemilikan Rumah, KPR). As one of the biggest bank in Indonesia, Bank Tabungan Negara (BTN) has an advantage as a pioneer to provide such KPR. To compete with other banks, KPR BTN (including BTN Konvensional and BTN Sharia branch offi ce Solo), as one of the branch unit of Central BTN, has to do strategic promotion effectively so that BTN can come up with their brand image and makes a strong position in market. The aims of this research are: (1). To learn about the promotion activity being used by BTN and BTN Sharia branch offi ce Solo; (2). To identify factors which develop a promotion strategy in BTN and BTN Sharia branch office Solo; (3). To analyze an alternative promotion strategy that might effective to be applied in both BTN and BTN Sharia branch Solo. This research used primary and secondary data. The primary data was collected through out interview and questionnaire while secondary data was obtained from company’s information, literature and electronic publication. In the process of data analysis, it will use factor analysis and Analytical Hierarchy Process using Expert Choice 2000 and Microsoft Excel.BTN and BTN Sharia branch offi ce Solo develop the KPR’s promotion with advertising, sales promotion, publicity and public relation, personal selling, marketing and direct selling. The results of this analysis clearly fi ng out that promotion strategy of BTN branch offi ce Solo is set by fi ve factors, such as market characteristic, facility and equipment, consumer’s characteristic, competition, and company’s Segmenting, Targeting, and Positioning (STP). While, the factors of promotion strategy in BTN Sharia branch office Solo consist of competition, promotion budget, consumer’s characteristic, human research and other marketing mix except promotion. The alternatives which can be pursued are BTN branch offi ces Solo have to increase the advertising activity as the main alternative strategy. The alternative strategy for BTN Sharia branch offi ce Solo is to increase the publicity and public relation as the main strategy alternative.Keywords: Residence Service Product (KPR), Promotion Strategy.

Comparing Conventional Bank Credit Vis A Vis Shariah Bank Musharakah: Experimental Economic Approach

Abduh, Muhamad ( Department of Economics, International Islamic University Malaysia ) , Sanrego, Yulizar Djamaluddin ( Tazkia University College of Islamic Economics )

Tazkia Islamic Finance and Business Review Vol 3, No 1 (2008)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (516.388 KB)

Abstract

Central Bank of Indonesia with dual banking system – i.e Shariah and Conventional Bank – keep on developing system that considered as an answer to generate the national economic growth. One of the banking activities that emphasized by the Central Bank of Indonesia is fund distribution through either conventional bank credit or shariah bank fi nancing. Having the Experimental Economic Approach based on Induced Value Theory and employing ANOVA, this paper found that shariah bank musharakah fi nancing system would come up with higher profi t opportunity compare to conventional credit system. One main reason is that musharakah fi nancing in shariah bank applies profi t and lost sharing (PLS) scheme so that will not be a burden to the customer when he fi nd low profi t.Keywords: Credit Loan, Musharakah Financing, Induced Value Theory, Experimental Economic Approach, Analysis of Variance (ANOVA).