Hasil Pencarian


Tanggal Publikasi: 16 Jun 2016

Loan Loss Provisions, Income Smoothing and Loan Growth: Evidence from Islamic Banks

This paper analyses income smoothing behavior and procyclical effect of loan loss provisions in Islamic bank. The model includes the use of loan loss provisions for discretionary and non-discretionary purposes in Islamic banks and relates it to the ways of Islamic banks disburse loans. The empirical results show that Islamic banks use loan loss provisions for non-discretionary purposes, while well-capitalized banks and banks focusing on lending activities may use loan loss provisions for income smoothing to a lesser extent. Moreover, it is documented that higher non-discretionary component of loan loss provisions results in a decline in loan growth and hence, non-discretionary provisions are procyclical. In contrast, the discretionary component of loan loss provisions does not exhibit any significant impact on loan growth. Finally, the findings show that the negative link between non-discretionary provisions and loan growth does not hold for well-capitalized banks, and banks focusing on lending activities. This paper, therefore, highlights that higher capitalization and higher loan asset portfolios tend to neutralize the procyclical impact of non-discretionary provisions through their income smoothing behaviour. In this regard, the provisioning system is particularly recommended for less-capitalized banks and banks which do not focus on lending activities since they do not conduct income smoothing strategies.


Tanggal Publikasi: 1 Jun 2016


Murabahah funding at syari’ah banking is the transaction selling buy where the bank to mention the price of goods and the number of profit. The bank act as a seller while customer as a buyer. This study attemp to analyse the fines implementationof murabahah funding in particular motorists on the Bank Syari’ah Mandiri (BSM)branches Dumai. The results of the kind showsthat the system fines murabahah funding motor vehicles that implemented BSM in accor- dance with the concept of Dewan Syari’ah Nasional Majelis Ulama Indonesia (DSN MUI), but does not comply with the legal verdict Fiqih Islam that take shelter under Munazzamah Mu’tamar al-Islami.



Tanggal Publikasi: 26 Mei 2016

A Proposed Formula for Reserve Requirement–Financing to Deposit Ratio: The Case of Islamic Banking in Indonesia

This chapter attempts to find the ideal reserve requirement–financing to deposit ratio (RR-FDR) ratio for Islamic banking industry in Indonesia by deriving the ideal quantitative formula of the ideal RR-FDR and conducting simulations to identify its impact to each Islamic bank. Simulations on the financial ratios related to calculating RR-FDR are conducted based on the bank profit maximization model and the bank balance sheet approach. The results find that FDR is suggested to be between 77 and 109 % with 5 % RR. However, the liquidity reserve position of each Islamic bank shows that there are five Islamic banks having a minimum liquidity reserve (less than 5 % RR) and seven Islamic banks having a minimum liquidity reserve (less than 8 % RR). It means Islamic banking industry in Indonesia does not have enough liquidity reserves to mitigate both short-term and long-term liquidity mismatches leading to liquidity pressures. Hence, the regulator is suggested to consider such an optimal FDR-RR in Islamic banking industry for an effective implementation of the macroprudential policies.


Tanggal Publikasi: 19 Apr 2016


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.


Tanggal Publikasi: 29 Mar 2016

Pengayaan Fitur Laporan Pada Senayan Library Management System (Slims) Di Perpustakaan President University

Information technology application of in libraries functionsin a variety offorms, one of which shaped by the utilization of libraryi nformation system to enablet he processing of data and reports quickly. Therefore the libraryi nformation system is in dispensable in determining business decisions. The development of library information systems are needed to carried out in accordance with the need of the business process. The purposeof this research is developing feature reports SliMS at President University Libraryto meet business process. SLiMS has been chosenasone of the development library information system to creat the enrichment of the report feature.  They are Annual Circulation, Circulation per Capita, Membership Report, Registration as a Percentage of Population, Visitor perYear, Library Visit perCapita, Growing of Collection, with using the method of prototyping model.The Testing sistem results the enrichment of report feature can help to create library report with user friendly dan based on decision making for future library planning at President University Library.


Tanggal Publikasi: 1 Mar 2016


This current paper examined the determinant of the poverty in the OIC countries. Our empirical model was based on IbnKhaldun development model that emphasizes several aspects, namely: the country's wealth (proxied by GDP per capita), the role of government (proxied by health and education expenditures), human resources (proxied by HDI), sharia (proxied by corruption perception index), development (proxied by investment), and justice (proxied by Gini index). We used panel data model consisting nine OIC countries over 2003-2012. This study verified that GDP per capita significantly contribute to the reduction of poverty in the OIC countries. We also found that unemployment (as a control variable) encountered a role in triggering poverty in OIC countries. Meanwhile, it found that education expenditure, Gini index, HDI, and Corruption Perception Index found no significant effect on poverty.


Tanggal Publikasi: 13 Jan 2016

Indonesian Islamic microϐinance in the ASEAN Economic Community era

In its application at the end of 2015, AEC will implement 12 priority sectors — agro-based products; air travel (air transport); automotive; e-ASEAN; electronics; fi sheries, health care; rubber-based products; textiles and apparel; tourism; wood-based products; and logistics, as well as the food, agriculture and forestry sectors. Free trade includes the reduction and elimination of tariff s and non-tariff s signifi cantly in accordance to the Asean Free Trade Area scheme.


Tanggal Publikasi: 1 Jan 2016


An Empirical Model of the Islamic Pooled Fund in the Light of the Fund of Tawhidi Unity Knowledge

An application of the Tawhidi methodology is developed in this chapter. This now takes the form of unification by participatory dynamics of the various segmented Islamic financing instruments into a pooled fund. Various consequences of financial and economic stability and development are thereby studied by means of unified development-financing formalism


Tanggal Publikasi: 1 Jan 2016

Managing Banking Liquidity Risk in the Current Economic Conditions: A Conceptual Framework

The paper attempts to analyze the conceptual basis for managing banking liquidity risk in the current economic conditions. After identifying and profiling risks in banking institution, the current concept of liquidity risk management requires the banks to set up a liquidity risk management process. It consists of determining liquidity risk management policies, setting the roles of ALCO, establishing an effective information system and, conducting internal control system for liquidity management. Further, after analyzing factors triggering assetliability imbalance, the banks prepare techniques to mitigate liquidity imbalance and liquid financial instruments to fulfill the demand for liquidity. Finally, this comprehensive concept is expected to help banks to properly manage liquidity in the challenging economic/business condition nowadays.


Tanggal Publikasi: 1 Jan 2016


Microfinance as an effective tool provides financial service for those who do not have the access or could not be accessed by a commercial bank or other financial institution. The Growth of Baitul Maal wa tamwil (BMT) as one of the Islamic financial institution is very fast and massive. There are many challenges and obstacles that inhibit the growth of it, either from internal or external of BMT. The purpose of this study is to identify the issues faced by the urban of BMT (Bogor City), used Analytic Network Process (ANP). The study also attempt to provide solution of the BMT problem faced. The result of this study showed that the problem of internal Issues was more dominant than External Issues, with the priority level of 54%. Based on the Internal Problems aspect, the dominant issue was the problem of “Low Quality and understanding of Human Resource”. Meanwhile an aspect of the external problem is “the strictness of Business Competition”. Furthermore, the solution could be implemented are 1) Training for Human Recourse 2) BMT Mentoring by the relevant government.


Tanggal Publikasi: 8 Des 2015

Determinan Indeks Pembangunan Manusia: Analisa Pendekatan Maqāṣid SyarῙ’ah Al-Ghazali

The multidimensional poverty is one of the big problems faced by some countries. It is a condition of an individual that had a low income, low education and low health care. Then, Amartya Sen and Mahbub Ulhaq had offered a new measure on Development namely Human Development Index (HDI). As in Islam, the development had arranged from the approach of Maqāṣid Syarῑ’ah and Al-Ghazali (1111 H) was the first Muslim intellectual who had Developed the thesis and had divided maqasid into three aspects, ḍaruriyyah, ḥajiyah, taḥsiniyyah. Furthermore, ḍaruriyyah consist of five basic elements namely Ḥifẓ Dῑn (Religion), Ḥifẓ Nafs (Life), Ḥifẓ ‘Aql (Intellectual), Ḥifẓ Nasl (Progeny), Ḥifẓ Māl (Wealth). Therefore the aim of the study was to search how the Maqāṣid Syarῑ’ah contributed to Human development theory and what were the factors of HDI of Maqāṣid Syarῑ’ah of Al-Ghazali approach. The Study selected 37 OIC Countries for eight years by using Data panel regression. The Study Showed that Ḥifẓ ‘Aql (Intellectual) and Ḥifẓ Māl (Wealth) has significant impat on HDI. On the other hand, Ḥifẓ Nafs (Life) Ḥifẓ Nasl (Progeny) have significant impact on HDI. This may due to the quality of Human Resources and Bureaucracy in Some OIC Countries. Meanwhile, the theory of Maqāṣid Syarῑ’ah had been developed well into Human Development but still had a lot of points to be evaluated.


Tanggal Publikasi: 2 Des 2015

Analisis Faktor-Faktor yang Memengaruhi Tingkat Pertumbuhan Ekonomi pada 20 Negara OKI Tahun 2009-2013 

This study aims to analyze factors that affect economic growth in OIC member countries by using neo-classical model of economic growth and economic growth of Ibn Khaldun. The model consists of five variables, namely: labor, capital accumulation, agriculture, trade, and inflation. This study was using regression analysis of panel data with the object 20 OIC member countries (Afghanistan, Bangladesh, Mozambique, Togo, Uzbekistan, Indonesia, Nigeria, Pakistan, Tunisia, Jordan, Kazakhstan, Lebanon, Malaysia, Algeria, Turkey, Brunei, Kuwait, Oman, Arabia, and United Arab Emirates), from 2009 to 2013. The results showed that four of the five variables used to significantly affect the economic growth in OIC countries is variable labor, capital accumulation, agriculture, and trade, while inflation variable has no significant effect. From this study it can be concluded that not all the variables significantly influence economic growth in OIC countries. 


Tanggal Publikasi: 16 Nov 2015

The need for Shariah harmonization in financial reporting standardization: The case of Indonesia


This study aims to analyze IFIs’ stakeholders’ perception on Shariah harmonization for financial reporting standards inIndonesia as a part of the development effort of linking the emerging global Islamic banking to Indonesian financial and industrial markets.


A sample of 160 respondents, who were stakeholders of Islamic banks, was taken from Jakarta, the capital city of Indonesia and its surrounding major districts to examine the stakeholders’ perception on Shariah harmonization effort toward the implementation of a uniformed financial reporting standard for Islamic financial institutions. Data for this study were collected using a structured questionnaire.


Through this study, the authors found several measures to be taken to ensure Shariah harmonization efforts in Indonesia such as deep understanding on the fatawā brought into practices and strict monitoring on the Islamic banks in applying the financial reporting standards that imply practicing the fatawā, both de jure and de facto. However, the respondents differ in their opinion on the possibility of Shariah harmonization, both de jure and de facto. The role of various actors involved in the financial reporting standardization may impede Shariah harmonization to take place.

Research limitations/implications

The study is only looking at one case study, which is Indonesia. Therefore, future studies should consider more countries and significant number of respondents. Different research instruments to measure the perception can also be an interesting research exploration. In addition, adopting deep Islamic political economy of accounting theory may support better analysis on the issue of financial reporting standardization for Islamic financial institutions.


This paper has practical significance for financial reporting standard setters for Islamic banks and policy-makers to understand the key behavioral and demographical dimensions of their stakeholders and using these dimensions to effectively position important aspects in financial reporting standards setting.


Tanggal Publikasi: 12 Nov 2015

Qur'anic Work Ethic

The Qur’an is the primary source in all Islamic matters, including in work ethics. This article attempts to discuss work ethics as scripted in the Qur’an. In overall, the values and ethics in the Qur’an could be classified into three major components, namely religious, quality and personal values. These three components have a significant impact on work culture in the organization. It is hoped that this article can enhance the understanding of Muslim employers/employees towards work ethics.This understanding will encourage them to implement work ethics in their daily activities.


Tanggal Publikasi: 2 Sep 2015

The Economic of Religion: An Epistemological Insight

Religion always go hand in hand with economic science, moreover the both is un-separated part of analysis to explain behaviour of economic. In the western and mainstream economic, the significance impact of religion in socially, politically, and economically complex world standing lag behind the perception of religion and economic itself. Beside interconnected between religion or ideology to economic science, this paper tries to examine some philosophical determinants of economic consequences of Islam, and through its worldview and epistemology, Islamic economic is an outstanding economic science because the religion and ideological matter coherently in its body of science.


Tanggal Publikasi: 27 Agt 2015

A Fairness Model Based on Interval Type-2 Fuzzy Set for Sharia Financing Scoring

Conventional credit scoring model could lead to serious and unfair problems because in certain case it would incriminate one party in financing. Sharia financing scoring model complies with Sharia rules and ensure fairness among parties. Currently, there are no certain rules in Sharia financing scoring model which lead to subjective judgements. In the subjective judgements, words could mean different things to different people. Thus, this paper proposed and deployed models for scoring of default risk level by using Interval Type-2 Fuzzy Set model to support the subjective judgements in maintaining Sharia rules. Installment amount and sum of delay period were used as variables for that scoring. Interval Type-2 Fuzzy Set model was proposed to support the subjective judgements in maintaining Sharia rules. Beginning delay period also used as weighted to the risk scoring results. Beside that, this paper also proposed the method for computing real lost value. It was used as basis in fines computation according to default risk level, bad debt expense, and installment weighted average.


Tanggal Publikasi: 1 Jun 2015

Keuangan Islam untuk Wong Cilik  (Miskin)

Poverty is the wide world problem to the present. Various programs are presented in an effort to reduce and minimize the problem posed. This paper described the approach based on Islamic teachings. It is the combination of the social contract, business and cooperation. It start form social akad, followed by the business and commercial contract, and the last is the risk solving problem. A Comprehensive stage that cannot be directly implemented in stages, and it is good preparation. Meaning the poor in the hadith also indicates the importance of attention of all the parties is not limited to any material deficiencies. Abolishing riba contracts become a compulsory, because the impact of usury posed for the poor. Pairing the word riba in Quran with three words will inspirese the solutions and replacement of such contract.


Tanggal Publikasi: 5 Mei 2015

Isra’iliyyat in interpretive literature of Indonesia: A comparison between Tafsir Marah Labid and Tafsir al-Azhar

Isra’iliyyat is one of the elements frequently used in interpretive literature. It is not an important element in the interpretation of al-Qur’an, but its presence may be found in numerous interpretive literature, including those written by Indonesian scholars. This article discusses the use of isra’iliyyat narratives in Nusantara interpretive literature by comparing traditional to contemporary interpretations. The traditional interpretive work selected is tafsir Marah Labid or also known as tafsir al-Munir by Nawawi al-Bantani. A contemporary interpretation selected is tafsir al-Azhar by Hamka. Both these interpretations are selected based on their complete 30 chapters which are still widely referred to by Indonesian society. By using the methodology of document analysis, the researcher compares the attitude of the authors towards isra’iliyyat narratives as well as the methodology of writing isra’iliyyat. Research results find that there is a difference in attitude between Nawawi al-Bantani and Hamka towards isra’iliyyat narratives. Nawawi’s attitude in his interpretation is similar to that of other traditional interpretations which insert such narratives without any explanations whether the narratives may be accepted or otherwise. In contrast, Hamka was more critical towards isra’iliyyat narratives, even though the isra’iliyyat narratives he inserted in his interpretation were selected based on their acceptability and non-contradiction with al-Qur’an or the Prophet’s (pbuh) hadith


Tanggal Publikasi: 4 Mei 2015

An Exploratory Study of Shari'ah Issues in the Application of Tabarru' for Takaful

world over the last decade, demonstrating an enormous demand for takaful products ranging from short-term general takaful to long-term family takaful. It has attracted considerable attention not only from the Muslim countries, but also from the non-Muslim countries. Despite its promising growth, however, the takaful industry continues to face numerous contentious Shari'ah issues. The present study aims to discuss some of the most fundamental Shari'ah issues in takaful, namely the issue of applying tabarru' concept in takaful and the issue of underwriting surplus of tabarru' fund


Tanggal Publikasi: 4 Mei 2015

pportunity and Challenges to Integrate ZakatIntoIndonesian Fiscal System in The Light of Siyasah Shar‘iyyah

arisen in Muslim countries including Indonesia. It is argued that zakat, in history, has played a significant role to create welfare among societies. It is proven at the time of Caliph 'Umar ibn 'Abdul 'Aziz that zakat has alleviated poverty at that time alongside tax. Having considered such achievement, some scholars argued that zakat should be reintegrated into current fiscal system. This paper, therefore, attempts to study the feasibility of integrating zakat into Indonesian fiscal system. Employing descriptive analysis based on Siyasah Shariyyah (high objectives of the Shariah). Therefore, the objectives of the study are set with these following points: 1) to address the strength and the weakness of the implementation of this idea, 2) to assess its opportunity as well as its threat, 3) to examine whether the integration of zakat will secure maslahah (benefit) or create mafsadah (harm). The result shows that the integration of zakat into current fiscal system is in line with the Siyasah Shariyyah. Hence, the strong willingness and commitment of government is strongly required to applicate it. The proper model of integration should also be planned well. Moreover, nurturing the understanding to all parties, especially to the nonMuslims and secularists, that this idea is really beneficial and not discriminatory should be promoted.