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Tazkia Islamic Finance and Business Review
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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
A Service Quality of Islamic Microfinance Institutions in Indonesia: An Importance-Performance Analysis Approach

Nurfadilah, Dety ( Universitas Krisnadwipayana ) , Samidi, Sudarmawan ( Krisnadwipayana University ) , Subagja, Iwan Kurniawan ( Krisnadwipayana University )

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

The rapid growth of financial system in Indonesia creates an intensive competition between Conventional and Islamic financial institutions. The study aims to evaluate the service quality of Islamic Microfinance Institution in Indonesia. The survey was carried out to acquire data from 126 respondents. Descriptive statistics and importance performance analysis (IPA) was used to analyze the data. The finding show that attributes plotted in quadrant “keep up the good work” are providing prompt service, and helpful response to customer requests, Ability in providing services to the customer as needed, prompt service on financial counselling,  Ability of staff in giving proper explanation to the customer, Ability to keep the transaction process secure, and Sharia compliance banking products. Meanwhile, the attributes plotted in quadrant “concentrate here” are accessible of location of ATM, easy to access the location, ability to navigate customer to find what they intend, ability to maintain accuracy of bank statement, and ability in providing after sale services. To the best of author’s knowledge, it is the first study that measuring the service quality of Islamic microfinance from customer perspective using importance-performance approach. 

Front Matter 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)

Show Abstract | Original Source | Check in Google Scholar | Full PDF (317.154 KB)

Abstract

Design the Roadmap of Holistic Financial Inclusion for Baitul Maal wat Tamwil

Ascarya, . ( Center for Central Banking Research and Education, Bank Indonesia ) , Rahmawati, Siti ( Islamic Economic and Finance Department, Bank Indonesia ) , Tanjung, Hendri ( Head of Islamic Economics Society, Ibn Khaldun University, Bogor )

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 to design the roadmap of Holistic Financial Inclusion (HFI) by Baitul Maal wat Tamwil (BMT), where Baitul Maal carries out social inclusion and Baitut Tamwil carries out financial inclusion, using Analysis Network Process (ANP). The results show that the most important aspects of HFI are Sustainability, Development Program, Financing Program and Islamic Microfinance Services, while the most important elements of HFI are regular meeting, micro savings, simplicity and easy access, consumption smoothing, bailout debt, savings program and income increase, followed by funding independent, total deposits, mindset change, and micro financing. HFI of BMT could be developed gradually. At the first stage, BMT should have the minimum 16 elements of HFI comprising 4 (four) Social Inclusion elements, 4 (four) Financial Inclusion elements, 4 (four) Double bottom-Line elements and 4 (four) Welfare Impact elements. At the second stage, BMT should add the next 16 elements comprising 5 (five) Social Inclusion elements and 3 (three) Financial Inclusion elements, 5 (five) Double Bottom-Line elements and 3 (three) Welfare Impact elements. Moreover, at the third stage, the remaining 24 elements of HFI should be fulfilled. All Islamic financial institution must have the characteristic of HFI.

Islamic Law and Sustainable Development Goals

Mukhtar, Sohaib ( National University of Malaysia ) , Zainol, Zinatul Ashiqin ( National University of Malaysia ) , Jusoh, Sufian ( National University of 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 study aims to analyze Sustainable Development Goals (SDGs) prescribed by United Nations Development Program (UNDP) under Islamic Law. This paper is qualitative method of research analyzing SDGs under verses of Holy Qur’an and traditions of Prophet Muhammad ﷺ. This study found that what SDGs ask member states to do has been prescribed in Holy Qur’an and Sunnah of Prophet Muhammad ﷺ way back 1400 years ago and demanded by Almighty Allah and the last Prophet Muhammad ﷺ for eradication of poverty, hunger, malnutrition etc. Islamic law prohibits usury, gambling, uncertainty and other illegal activities to protect poor people of the society against rich landlords. Therefore, member states are required to follow SDGs to achieve peace, harmony and economic growth for betterment of humanity which is also a duty under verses of Holy Qur’an and traditions of Prophet Muhammad ﷺ to achieve success in this world and in the hereafter.

Back Matter 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

GCG, ROE and Size on CSR Based on Sharia Enterprises Theory

Aryani, Dwi Nita ( STIE MALANGKUCECWARA ) , Zuchroh, Imama ( STIE MALANGKUCECWARA )

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

The purposes of this paper are to investigate the Corporate Social Responsibility (CSR) reporting information at Indonesia sharia banks based on Sharia Enterprise Theory and explores the potential effects of Corporate Governance (CG) elements, Return on Equity (ROE) on CSR based on sharia enterprises theory, with size as the moderating variable.  Using the sample of 10 sharia banks which published annual reports, CG, and CSR reports above the year 2014 to 2016, the panel data are examined by regression.  The statistic test reveals that size is not fit as a moderating variable in testing the effect of CG and ROE on CSR. Aggregately, GCG, Size and ROE influence CSR.  A large and high-profit sharia bank which apply good corporate governance will implement CSR by considering horizontal and vertical accountability based on Sharia Enterprise theory. This study makes a significant contribution to the Corporate Social Responsibility (CSR) and enterprise theory by offering Sharia Enterprise theory as the foundation of the CSR implementation at sharia banks.

Halal Purchase Intention on Processed Food

Nurhasanah, Saniatun ( STEI Tazkia ) , Hariyani, Happy Febrina ( University of Muhammadiyah Malang )

Tazkia Islamic Finance and Business Review Vol 11, No 2 (2017)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

The objective of this study is to investigate the factors affecting customers on purchasing halal purchase intention on processed food. A purposive sampling method with 193 respondents and the data analysis is done by SEM-PLS method. The results show that halal awareness, health reason, and perceived value have a significant and positive direct effect on purchasing intention. Halal marketing also shows a significant and positive effect on purchasing intention. The food safety, halal certification, brand image, and perceived quality show the same effect which has no direct effect on purchasing intention. Furthermore, Food safety has an indirect effect on purchasing intention through health reason. Halal certification has an indirect effect on purchase intention through brand image variable. Meanwhile, brand image and perceived quality have an indirect effect through perceived value variable on purchasing intention.

CSR in Islamic Financial Institution : A Literature Review

Trianaputri, Anisa Ramadhini ( Universitas Indonesia ) , Siswantoro, Dodik ( Universitas Indonesia ) , Dewi, Miranti Kartika ( Universitas Indonesia )

Tazkia Islamic Finance and Business Review Vol 11, No 2 (2017)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

This study aims to provide a literature review of previous research related to Corporate Social Responsibility (CSR) in Islamic Financial Institution (IFI). This study contains review of 53 published articles throughout 2006-2016, both in the Islamic economic and financial journal and general journal. The literature review is presented into 5 sections, (a) review by journal and publication year, (b) by research type, (c) by methodology used, (d) by research topics and (e) by theme and region. Based on the review by publication year, it shows that the concept of CSR is still a fairly new topic. Most of the studies is still dominated by qualitative research with literature review method. The majority topic is still limited to the general review of the existing CSR practices, which are descriptively presented only. The results of this study are expected to provide a research mapping of CSR in Islamic Financial Institution, so it can inspire the subsequent research to explore potential areas related to this topic. This attempt becomes increasingly necessary, with regards to the rapid development of Islamic business and finance practices around the world.

Optimization Strategy of Laku Pandai Policy in Islamic Bank: A Study Case

Bakhtiar, Junarti ( Ahmad Dahlan School of Economics ) , Anwar, Saiful ( Ahmad Dahlan School of Economics ) , Anisa, Fitra ( Ahmad Dahlan School of Economics )

Tazkia Islamic Finance and Business Review Vol 11, No 2 (2017)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Laku Pandai is a program providing banking services and/or other financial services through cooperating with other parties (bank agents) and supported by the usage of modern facilities to increase and expand any accesses to financial services. Laku Pandai is quite effective and efficient if its implementation and optimization are conducted by the banks that are eager in expanding their services in lower average cost. As for how it is, its significant development then triggered BRI Sharia to participate. However, Financial Services Authority thinks that conventional banking is not yet optimal, so it comes up with an argumentative assumption on sharia banking if it successfully implements the program. The purpose of this study is to determine appropriate strategies for optimizing Laku Pandai outputs in sharia banking using SWOT and AHP analysis. SWOT analysis is used to determine internal and external factors related to application of the output, while AHP is used to capture the best precise strategy. The result of the research shows that the main output of Laku Pandai is to successfully reach unbanked people with the exact alternative that is by improving marketing and promotion, improving socialization and education to society, improving agent quality and establishing vision and mission.

Macroeconomic Determinants of Islamic Banking Financing

Nursyamsiah, Tita ( Bogor Agricultural University )

Tazkia Islamic Finance and Business Review Vol 11, No 2 (2017)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

The purpose of this study is to analyze the relationship between Islamic banking financing and macroeconomic variables as well as its response to key economic variables including real output, price level, interest rate and trade for the case of Indonesia. This research uses time series econometric analysis such as Granger Causality and Vector Error Correction Model (VECM). Time series data used are total Islamic banking financing, industrial production index (IPI), customer price index (CPI), Certificate Bank Indonesia (SBI) rate and international trade. The results show that there is bi-directional relationship between Islamic banking financing and price level as well as Islamic banking financing and interest rate. Meanwhile, the uni directional causality occurs between Islamic banking financing and real output as well as Islamic banking financing and trade. In this case, Islamic banking financing is affected by IPI. Islamic banking financing is not affected by trade but trade is significantly affected by Islamic banking financing. In addition, Islamic banking financing is relatively sensitive to the shock of price level, real output and interest rate.