cover
Filter by Year
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 9, No 2 (2015)
5
Articles
Batik Painting Employees’ Welfare In Yogyakarta (An Analysis Of Maqasid Sharia Framework)

kirana, kusuma chandra ( "STIE Mitra Indonesia Yogyakarta" ) , Haryani, Sri

Tazkia Islamic Finance and Business Review Vol 9, No 2 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (393.969 KB)

Abstract

Objectives - The main purpose of this study is to analyze the implementation of welfare concept from the Islamic Economic perspective in Sub Sector Batik Painting Industry in Yogyakarta.Methods - This is an explanatory research study with analytical descriptive of kashif analytical. This study uses rational-empirical approach (deductive). The research begins with empirical facts of an event/phenomenon that shows the number of batik industry in Yogyakarta. Maqasid Sharia is used to analyze the object of the research. Therefore, this study can be categorized as empirical-rational (inductive). The study was conducted in Yogyakarta that consists of 5 districts, namely: Sleman, Bantul, Kulon Progo, Gunung Kidul and Yogyakarta.Results - Maqasid sharia as an indicator of welfare has been implemented in most of the batik painting industry in Yogyakarta, with the highest order is hifzhul-‘aql, followed by hifzhul-maal, hifzhun-nasl, hifzhun- nafs, and the lowest is hifzhud-din. By order of the area of application, the highest is Kulon Progo (70.31%), followed by Yogyakarta (70.26%), Bantul (70.25%), Sleman (60.09%) and the lowest is Gunung Kidul (50.29%).Conclusion - Based on the analysis of  socio-economic welfare, as much as 64.7% of employees were able to meet the needs of their family life, while the remaining 33.3% were classified as mustahiq (poor) which require serious attention. Based on the analysis of Ibn Khaldun’s concept on welfare, Batik industry in Yogyakarta has not fully implemented the welfare yet. It is characterized by the application of distributive justice between the owner and the employees are still not in accordance with the Hadith of the Prophet, which is 1: 2.

THE EFFECT OF MAQĀṢID-BASED DEVELOPMENT VARIABLES ON ECONOMIC GROWTH BASED ON UMER CHAPRA’S PERSPECTIVE (CASE STUDY: NINE SELECTED OIC COUNTRIES)

parisi, salman al ( Tazkia Universtiy College for Islamic Economics ) , Ismail, Nurizal ( Tazkia Universtiy College for Islamic Economics ) , ., Indra ( Tazkia Universtiy College for Islamic Economics )

Tazkia Islamic Finance and Business Review Vol 9, No 2 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (515.038 KB)

Abstract

Objectives: Human Development Index (HDI) has multidimensional aspects of life. In fact, HDI measures only physical aspects that are needed by human such as education, health and wealth. Accordingly, discussing on human must cover material, physical and spiritual aspects. Maqāṣid is needed as a wasilah (medium) to promote the benefit of human (maslahat), which contains of daruriyyat, hajiyat and tahsiniyat. By then, this study aims to analyze maqāṣid based development variables of Umer Chapra perspective on economic growth in 9 selected OIC member countries.Method: The methodology of the study used mixed methods: qualitative and quantitative. The quantitative applies panel data regression analysis with 9 selected OIC countries (Indonesia, Jordan, Kazakhstan, Kyrgyzstan, Mesir, Pakistan, Togo, Turkey and Uzbekistan) with time series from 2004 to 2013. For qualitative applies content analysis approach by using tafsir of Ibnu Katsir.Results: The finding shows that all independent variables, which are literacy rate, enrollment of school, poverty rate, gini index, life expectancy at birth, rule of law and voice accountability have significant effect on economic growth in 9 selected OIC member countries, both simultaneously and individually.Conclusion: This study concludes that HDI which is bounded by maqāṣid approach affects on increasing of economic growth in 9 of OIC member countries significantly.

A Critical Review on Interest Rate as a Tool of Monetary Policy

putriani, diyah ( universitas gadjah mada ) , towo, pras ( universitas islam indonesia )

Tazkia Islamic Finance and Business Review Vol 9, No 2 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (640.189 KB)

Abstract

Objectives: This research is aimed to critically review the relationship between interest rate and economic downturnMethods: Meta-analysis.Results: The existing monetary policy will always create higher inflation rate overtime triggering economic crisis in the long run. This is not merely about how the monetary authority strictly manages the supply and demand for money in the economy.Conclusion:This paper concludes that interest rate give negative contribution to the economic growth.

Determining the Real Causes of Financial Crisis in Islamic Economic Perspective: ANP Approach

Ascarya, . ( Center for Central Banking Research and Education, Bank Indonesia )

Tazkia Islamic Finance and Business Review Vol 9, No 2 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (727.585 KB)

Abstract

Objective – The purpose of this study is to determine the real causes of financial crisis from Islamic economic perspective.Methods - This study applies Analytic Network Process (ANP) to determine the real causes of financial crisis from Islamic economic perspective to be able to formulate the real solutions to end financial crisis.Results - The ANP results show that the real causes of financial crisis from Islamic economic perspective are Social Instability (EXTERNAL FACTOR), Speculation (MISBEHAVIOR), Ineffective Fiscal System (UNSUSTAINABLE FISCAL SYSTEM), Hedonism (MISBEHAVIOR), Fractional Reserve Banking System (UNSTABLE MONETARY SYSTEM), Political Instability (EXTERNAL FACTOR), Corruption (POOR GOVERNANCE), Interest Rate (UNSTABLE MONETARY SYSTEM), Fiat Money (UNSTABLE MONETARY SYSTEM), and the Wrong Man in the Wrong Place (POOR GOVERNANCE). These main real causes should be removed gradually in order to systematically and gradually improve the stability of financial system so that financial crisis will not reappear again and again in the future.Conclusions - Financial crisis would not happen under Islamic economic system if all Allah’s laws in financial dealings were followed. Financial crisis in conventional economic system could be prevented or lessened by gradually adopting Islamic economic and finance laws and regulations, partly or fully, especially the main pillars of Islamic financial system, namely the prohibition of ribā (usury or interest), prohibition of maysir (gambling and game of chance or speculation) and prohibition of gharar (excessive uncertainty), in their many forms.

The Urgency of the Regulation of Certification as an Attempt to Optimize the Human Resources in Developing Indonesia’s Sharia Insurance

Gani, lastuti abubakar ( Universitas Padjadjaran Jl. Dipati Ukur No. 35 Bandung ) , Handayani, Tri ( Universitas Padjadjaran )

Tazkia Islamic Finance and Business Review Vol 9, No 2 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (614.801 KB)

Abstract

Objectives - The development of Islamic insurance in Indonesia contributed to economic growth in 2014. The principle of mutual cooperation and tabarru contract is a characteristic of Islamic insurance. The Opportunity to increase the role of Islamic insurance as an economic entity is done by utilizing various aspects of human resource readiness. Human Resource are required to have a comprehensive understanding of Islamic insurance in order to create compliance with Islamic principles for product and services offered.It can provide legal protection against the Takaful participants. Issues to be examined is how the readiness of the relevant regulatory certification and how Regulatory model certification appropriate human resources in order to develop Islamic insurance in Indonesia.              Methods -The method used is a normative juridical that through the efforts of an inventory of rules and descriptive analytical. To obtain the appropriate regulatory models, a legal comparison method is employed.Results - Based on the research results, the regulation of certification is required and should include the human resources, starting from a selling agent to the management as a decision maker. This regulation will push the entire human resources involved in the Islamic insurance industry to has the capacity and capability in providing services to the public, and to ensure and guarantee that the services offered comply with Islamic principles. Association of Islamic Insurance Indonesia was initiated concerning certification provisions, but has not been followed by a strong regulations readiness as a legal basis.Conclusion -Therefore we need a comprehensive regulation and it must be issued by Indonesian Financial Services Authority.