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Tazkia Islamic Finance and Business Review
ISSN : 24600717     EISSN : 24600717     DOI : -
Core Subject : Economy,
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.
Arjuna Subject : -
Articles 116 Documents
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; Ismail, Nurizal; ., Indra
Tazkia Islamic Finance and Business Review Vol 9, No 2 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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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.
Law Review of Islamic Capital Market Role to Support Sustainable Economic Development Lita, Helza Nova; Utama, Zahera Mega
Tazkia Islamic Finance and Business Review Vol 8, No 2 (2013)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Objective - The objective of this paper is to assess on how the rule of Islamic capital markets to support   sustainable economic development and what kind of instruments can be developed.Method – The method used in this research is the study of normative juridical approach to legislation and the concept of Islamic economics through literature review.Result – Issuers business activities related to support for environmentally friendly business activities are part of the implementation of sharia principles despite the provisions of the implementation of Islamic finance through a decision has not been stated . All types of instruments issued by issuers of sharia in Indonesia should be consistent with Islamic economic values, including the commitment to enforcement of environmentally friendly business activities.Conclusion – This finding suggests to strengthen the legal instruments in the issuers issuance of Islamic instruments in the form of regulations issued by the Securities and Exchange Commission  and through the National Fatwa Council of Sharia.Keywords : Islamic Capital Markets, sustainable economic development, friendly environment
Analisis Strategi Promosi Kredit Pemilikan Rumah (KPR) Sistem Konvensional Dan Syariah (Studi Kasus : BTN Dan BTN Syariah Kantor Cabang Solo) Najib, Mukhamad; Munandar, Jono M.; Setiyawati, Agustina
Tazkia Islamic Finance and Business Review Vol 3, No 1 (2008)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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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.
Preferensi Masyarakat Pesantren Terhadap Bank Syariah (Studi Kasus DKI Jakarta) Noor, Fahd; Sanrego, Yulizar Djamaluddin
Tazkia Islamic Finance and Business Review Vol 6, No 1 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Sebagai basis pendidikan Islam, pondok pesantren berpotensi besar dalam pertumbuhan perbankan syariah di Indonesia khususnya di DKI Jakarta. Namun potensi tersebut belum diperhatikan secara maksimal oleh praktisi perbankan syariah. Hal ini dapat diindikasikan dengan masih minimnya masyarakat pesantren yang menjadi nasabah bank syariah. Tulisan ini ingin melihat sejauh mana preferensi masyarakat pesantren terhadap bank syariah khususnya di DKI Jakarta, dengan menggunakan metode regresi logistik (Logit) yang terdiri dari variable dependen ( Y0 = Non-nasabah dan Y1 = Nasabah) dan beberapa variable independen yang terdiri dari pendidikan, penghasilan, pengetahuan, akses, profesionalitas, fasilitas, popularitas dan bunga bank. Dari hasil hasill analisis yang dilakukan diketahui bahwa pengetahuan dan akses sanggat berpengaruh positif terhadap masyarakat pesantren. Sementara profesionalitas dan fasilitas justru berpengaruh negatif, hal ini dikarenakan masih minimnya pengetahuan masyarakat pesantren terhadap bank syariah sehingga mereka tidak berminat menggunakan bank syariah bahkan lebih cenderung menggunakan bank konvensional. Sosialisasi akan perbankan syariah di indonesia khususnya di DKI Jakarta terhadap masyarakat masih sangat minim khususnya masyarakat pesantren, dibutuhkannya peran dari seluruh stake holder untuk mendukung serta mensosialisasikan perbankan syariah secara berkelanjutan dan tepat sasaran.JEL Classification : G21Kata Kunci : Perbankan syariah, Masyarakat pesantren, Preferensi
Analysis of the Effect of Sharia Supervisory Board (SSB) Function on Earning Quality of Islamic Banks Hendra, Grandis Imama
Tazkia Islamic Finance and Business Review Vol 10, No 2 (2016)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Analysis of the Effect of Sharia Supervisory Board (SSB) Function on Earning Quality of Islamic Banks Grandis Imama Hendra, MSACCLecturer of Islamic Accounting, STEI TazkiaABSTRACT Objective - This study aims to identify the effect of Sharia Supervisory Board (SSB) function on the level of earnings quality in Indonesian Islamic banks. SSB criteria used in this study are size, frequency of Meeting and educational background (Finance / Accounting). Method - Panel data regression is employed to analyze the effect of Sharia Supervisory Board characteristics on the earning quality of Islamic bank. The data were taken from 11 full-fledge Islamic banks in Indonesia with available financial statements from period 2010 to 2015.  Results - The size of Sharia Supervisory Board members has a positive effect on the improvement of earning quality in Islamic banking. Two other variables, namely the frequency of SSB meetings and educational background do not affect the improvement of earnings quality. Conclusion - Studies of the role of Sharia Supervisory Board to the quality of financial statements is still limited, especially in the quality of earning that became the basis in determining the distribution of Islamic banks profit sharing. The main contribution in this research is that the role of SSB should be improved in order to increase the quality of financial reporting. Keyword: Quality of profit, Sharia Supervisory Board (SSB), Sharia/Islamic Bank.  
THE IMPLEMENTATION OF EFFICIENT TRADE MATRIX AND GOLD RESERVE REQUIREMENT FOR COMMODITY TRADE AMONG ASEAN COUNTRIES anisak, nurul
Tazkia Islamic Finance and Business Review Vol 10, No 1 (2016)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Objective - This study attempts to implement the efficient trade matrix among five selected ASEAN countries and its settlement by the gold reserve requirements through Multi-Bilateral Payments Arrangement (MBPA).Methods – The study is a qualitative research with analytic description. The purpose of this qualitative-descriptive study is to simulate the implementation of gold in the Multi-Bilateral Payment Arrangement among ASEAN countries using the current trade data.Results – This paper argues that the Southeast Asian countries can solve the problem through their internal coordination, particularly in terms of trade. One of the efforts is to reduce even eliminate the market risk by using the efficient payment arrangement.Conclusions – The study implied that the quantity amount of gold required to settle the trade balance will be reduced from the early gross payment. However, the ASEAN countries need to strengthen the cooperation among them through maximizing the trade relationship.
POSITIONING ANALYSIS OF ISLAMIC BANK vis-àvis CONVENTIONAL BANK IN INDONESIA USING PARAMETRIC SFA AND DFA METHODS15 Ascarya, Ir; Achsani, Noer; Yumanita, Diana; Rokhimah, Guruh S.
Tazkia Islamic Finance and Business Review Vol 4, No 2 (2009)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

This study will measure and compare the efficiency of Conventional and Islamic banks in Indonesia using parametric approach stochastic frontier approach (SFA) and distribution free approach (DFA). These measurements will provide comprehensive and robust results of efficiency of individual bank compare to its peer group. The results using parametric SFA show that in 2002, conventional banks (0.79) were slightly more efficient than Islamic banks (0.77), while in 2003, the efficiency of Islamic banks improved to 0.84 and the efficiency of conventional banks worsen to 0.76, so that Islamic banks have become more efficient than conventional banks. Conventional and Islamic banks have been improving and converged to the highest level of efficiency (1.00) since 2004. The DFA results show that conventional banks (0.89) are only slightly more efficient than Islamic banks (0.87). Conventional public bank (0.93) is the most efficient, while Islamic regional bank (0.84) is the least efficient. Moreover, efficient banks (conventional and Islamic) do not always have lower OCOI (operating costs divided by operating income), while banks with better OCOI usually are more profitable (have better return on assets or ROA). Therefore, technically, Islamic banks have shown their readiness to compete head to head with their conventional counterparts. However, other aspects, such as, number of networks and branches, service quality, convenience, products and services provided, human resources, and pricing, should have become the next priorities for improvements.JEL Classification : C10, C33, G21, G28Keywords : Islamic Banking, Efficiency, Stochastic Frontier Approach, Distribution Free Approach
IMPLEMENTATION OF CORPORATE SOCIAL RESPONSIBILITY (CSR) THROUGH WAQF RELATED TO LAW NUMBER 41 YEAR 2004 ON WAQF Lita, Helza Nova
Tazkia Islamic Finance and Business Review Vol 9, No 1 (2015)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Objective - Corporate Social Responsibility (CSR) is expected to continue to exist as an integral part of the management of a company. The existence of Law No. 41 Year 2004 on Waqf may be an appropriate alternative for the company to develop the concept of CSR through waqf management. Waqf is basically a form of philanthropy that is derived from Islamic law. It has its own characteristics that differentiate from other philanthropies. Characteristics of waqf  can provide a guarantee of legal protection for waqf objects that can be used to develop sustainable good deeds programs, instead of a normal charity program. The research discussess how the implementation of the concept of Corporate Social Responsibility through Waqf based on Law Number. 41 of 2004, and how the legal position of the company in the management of waqf.Methods – Analytical qualitative method on the legal aspect of waqf and theories of Islamic economics.Results - CSR within an Islamic framework includes a series of business activities in its various forms. The forms of CSR activities can be synergized through a planned management pattern, with separate funding sources.  Conclusions – The allocation of CSR through Waqf should be in accordance with the characteristics and conditions of the receiving society. Moreover, the role of  company in CSR management through waqf is either being a Wakif, Nazhir or partner of waqf institutions to improve productivity of waqf assets. Keywords : CSR, Waqf, Law
Measuring the Competitiveness of Islamic Banking in Indonesian Dual Banking System Ascarya, Ir; Yumanita, Diana
Tazkia Islamic Finance and Business Review Vol 3, No 2 (2008)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

Islamic banks in many countries have emerged as important component of financial system that contributes to the growth and development of the country’s economy. They have proven to be a viable and competitive component of the overall financial system. In the dual banking system, Islamic banks have to be competitive to survive. One of the key to competitiveness is efficiency. This study will measure and compare the efficiency of Islamic and conventional banks in Indonesia using Data Envelopment Analysis (DEA) methodology. DEA is a non-parametric, deterministic methodology for determining the relative efficiency and managerial performance, based on the empirical data on chosen inputs and outputs of a number of decision making units. DEA allows us to compare the relative efficiency of banks by determining the efficient banks as benchmarks and by measuring the inefficiencies in input combinations (slack variables) in other banks relative to the benchmark. Intermediation approach will be applied. This study will identify the sources and level of inefficiency for each of the inputs and outputs of Islamic banks and conventional banks in Indonesia. The result shows that in overall, Islamic banking is relatively more efficient than conventional banking. This means that Islamic banks are competitive enough to compete with conventional banks. Islamic banking is technically more efficient, but less scale efficient than conventional banking. Internal inefficiency is the main source of disintermediation of conventional banking in Indonesia. Furthermore, accelerated expansion, organically and inorganically, is needed to improve scale and overall efficiencies of Islamic banking in Indonesia.Keywords: Banking, Islamic Banking, Efficiency, Data Envelopment Analysis
HUBUNGAN LANGSUNG DAN TIDAK LANGSUNG ANTARA PARTISIPASI ANGGARAN DAN KINERJA MANAJERIAL MELALUI KOMITMEN ORGANISASI PADA INDUSTRI PERBANKAN SYARIAH DI INDONESIA Hasmawati, Anisza; Laela, Sugiyarti Fatma
Tazkia Islamic Finance and Business Review Vol 6, No 2 (2011)
Publisher : Institute for Research and Community Empowerment (LPPM TAZKIA)

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Abstract

mediate the relationship between budgetary participation and managerial performance (indirect relationships), and examines the existence of code of ethics as control variable both in direct and indirect relstionship between budgetary participation and managerial performance in Indonesian Sharia Banking Industry. A path analysis is used to examine the direct and indirect effects of budgetary participation on managerial performance. There is a direct relationship between budgetary participation and managerial performance, but not supported code of ethics as control variable. Budgetary participation affects organizational commitment. There is no relationship between organizational commitment and managerial performance so indirect relationship between budgetary participation and managerial perfomance through organizational commitment is not supported. This research only involved one moderating variable, organizational commitment, when other researchs could bring another moderating variables to examine indirect relationship between budgetary participation and managerial performance. Budgetary participation improves managerial performance in Indonesia Sharia Banking directly as a consequence of management involvement in the budgetary processJEL Classification : M41, C19Keywords : Budgetary participative, managerial performance, code of ethics, organizational commitment, Path Analysis

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