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Tazkia Islamic Finance and Business Review
ISSN : -     EISSN : -
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
116
Articles
Maqasid Ash-Shariʻah Framework and the Development of Islamic Finance Products: The Case of Indonesia

Qoyum, Abdul ( UIN Sunan Kalijaga Yogyakarta )

Tazkia Islamic Finance and Business Review Vol 12, No 2 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

The objective of this research is to discuss the concept of Maqasid ash-Shariʻah as well as to propose new concept of Maqasid ash-Shariʻah framemork that will give many benefit in Islamic financial product development. Using a qualitative approach and using literature review, this study concludes that, the purpose of sharia can be in the form of micro and macro as well. Both of these goals must be able to be realized by Islamic finance, primarily through its  products. In order to realize these two objectives, the process of the development of Islamic financial products is not only the concern of the sharia council, but also involving microprudential and macropruedential authorities. Therefore, here, the process of establishing Islamic financial products may involve Bank Indonesia, OJK, LPS, as well as DSN. The big goal is that every product can actually generate maslahah, both at micro and macro levels.

Determinant of Repayment Rate of Islamic Mortgate Financing Product

El Baqiy, Hawari Muhammad ( STEI Tazkia ) , Ardiansyah, Ferry ( STEI Tazkia )

Tazkia Islamic Finance and Business Review Vol 12, No 2 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Penelitian ini bertujuan untuk menganalisis faktor penentu tingkat pembayaran kembali pembiayaan perumahan di perbankan syariah. Penelitian ini menggunakan model analisis regresi logistik; dengan variabel dependen yang digunakan adalah tingkat kolektabilitas sedangkan variabel bebasnya adalah usia, jumlah anggota keluarga, tingkat pendidikan, rekening bank, saldo tabungan, rekam jejak di bank syariah XYZ, rekam jejak di Bank Sentral Indonesia, referensi, status perumahan, lama tinggal, jenis perusahaan, posisi di tempat kerja, lama kerja, pendapatan, lama pembiayaan, kemampuan pembayaran kewajiban, rekomendasi penilaian, ukuran bangunan, tujuan pembiayaan, dan rasio pembiayaan terhadap agunan. Hasilnya menunjukkan bahwa hanya lima determinan yang mampu mempengaruhi tingkat pembayaran pembiayaan KPR syariah atau KPR di bank syariah XYZ di Jakarta, Bogor, Depok, Tangerang, Bekasi, dan Cilegon pada periode tahun 2014-2016. Faktor-faktor penentu tersebut adalah rekam jejak di Bank Syariah XYZ dan Bank Sentral Indonesia, jenis perusahaan, lama pembiayaan, dan kemmampuan pembayaran kewajiban. Pada saat yang sama, rekam jejak di Bank Sentral Indonesia dan lamanya pembiayaan memiliki efek negatif terhadap tingkat pengembalian KPR Islam.

Exploring Strategies to Optimize the Collection of Zakat on Shares in Indonesia

Amalia, Sheila ( STEI Tazkia )

Tazkia Islamic Finance and Business Review Vol 12, No 2 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

This research aims to analyze the priorities of the problems in the collection of zakat on shares, and then identify the best solutions and strategies to enhance the collection performance. The employed method is Analytic Network Process (ANP). The result shows that there are three main problems in collecting zakat on shares: (1) The absence of government enforcement, (2) No integrated services to the zakat institutions (OPZ), and (3) The less understanding of investors about zakat on shares. As for the solutions by priority are: (1) Providing integrated services to the OPZ, (2) Make a collaboration to the securities, and (3) To increase the awareness to pay out zakat on shares. Meanwhile, the best strategies by priority are (1) Regulatory approach from Indonesian Stock Exchange to securities, (2) Zakat payroll system on shares, and (3) Campaign in the television.

Implementation of Auditing in Zakat Institutions: Case studies of BAZNAS Riau and Pekanbaru

Megawati, Devi ( Universitas Islam Negeri Sultan Syarif Kasim Riau )

Tazkia Islamic Finance and Business Review Vol 12, No 2 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

This paper examines the implementation of auditing in Zakat Institutions with a case study in BAZNAS Riau Province and BAZNAS Pekanbaru. Nowadays, the government and citizen’s attention for zakat management has become so high. Therefore, there are publications of rules about the obligation of zakat Institutions to make the report which, then, is an object to be audited. The researcher interviewed some regarding this topic, such as the Commisioner Head and Manager of BAZNAS Riau province and BAZNAS Pekanbaru and some staff of the Ministry of Religion who are in charge of zakat. The findings show the high attention of important role of internal auditor in zakat institutions. In the case at BAZNAS Pekanbaru, a team of internal auditors has been formed in 2017. The internal auditing activities can be the starting point for the external auditing activity. External auditing in zakat institutions industry facing many challenges such as waiting the release of technical rules of sharia audit from Ministry of Religious Affairs. The paper contributes to the better governance for zakat institutions to increase the trust of moslems especially muzakki in Riau province.

Liquidity Management in Islamic Banking: Issues and Challenges

Rizkiah, Siti Kholifatul ( International Centre for Education in Islamic Finance )

Tazkia Islamic Finance and Business Review Vol 12, No 2 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

As a financial intermediation, banking industry has and will always be bound with mismatch maturity problem between asset and liabilities which leads to liquidity issue. This article uses a literature study to observe the current liquidity trend in Islamic banking, the issues faced by the existing Islamic liquidity instruments and ways to overcome it. It is found that the common issues associated with Islamic liquidity instruments are sharia issue, inactivity of its secondary market, key issues on short term sukuk issuance and difficulty of cross-border transactions. A better management on liquidity position and a more robust liquidity infrastructure are needed for a better liquidty management in Islamic banking industry.

Back Matter Vol. 12 (2), 2018

akbar, nashr

Tazkia Islamic Finance and Business Review Vol 12, No 2 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Cover Vol. 12 (2), 2018

akbar, nashr

Tazkia Islamic Finance and Business Review Vol 12, No 2 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Front Matter Vol. 12 (2), 2018

akbar, nashr

Tazkia Islamic Finance and Business Review Vol 12, No 2 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

An Assessment of Customer’s Preferences on The Selection of Takaful Over Conventional: A Case of Saudi Arabia

Nazir, Faisal ( Institute of Islamic Banking and Finance ) , Bin Mohd. Noor, Azman ( International Islamic University Malaysia )

Tazkia Islamic Finance and Business Review Vol 12, No 1 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

This paper aims at assessing the motivational factors that influence the customer’s preferences of Takaful over conventional insurance. The customers’ information about the Takaful products and services based on sharia are identified in order to enable them differentiate Takaful and conventional insurance. The research uses mixed method of data collection. This comprises of questionnaires and in-depth interviews with the respondents from four selected Takaful industries in Saudi Arabia. The questionnaires were analysed using simple percentages and for the interviews, thematic analyses were used. Based on the findings of the study, the customer’s preferences on the selection of Takaful over conventional insurance include protection of Takaful product by sharia, support from the government. Similarly, the absence of risk incurred or transferred to participants, funds contributed in the spirit of brotherhood for all members. Moreover, another customer’s preferences is that contributions (tabarru’) are invested in non-interest based capitalization by the Takaful agents and profits are shared according to individual contributions. Based on Takaful, donations are established at the pooling system in line with sharia and they are formed on the bases of sympathy, consciousness of the idea of tabarru’ as well as abstaining from gharar, maysir and riba.

Cover Vol. 12 (1), 2018

akbar, nashr

Tazkia Islamic Finance and Business Review Vol 12, No 1 (2018)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract