<p><em>This study aims to determine the correlation between knowledge and awareness with industrial development, state religious status and state location. The data is sourced from secondary references of IFG-IFDI publication for the 2019 period on 42 countries in the European and American Continent. Data is processed through correlation analysis. The results show that Islamic financial knowledge correlates with the level of scientific awareness. Islamic financial knowledge and awareness of Islamic finance are positively correlated with the development of 4 (four) segments of Islamic finance, namely: Islamic banking, takaful, other Islamic finance, and sukuk; and does not correlate with the Islamic funds. The countries with a Muslim majority population will be more active in developing activities related to the Islamic financial industry. There other side, there is no significant correlation between knowledge and awareness of Islamic finance with the continet location of the country. The research findings recommend an inclusive awareness movement so that it unites the academic and the public aspects in Islamic financial campaigns.</em></p><p><em><br /></em></p>
The development of Islamic finance industry in many countries, it has not been in line with the Moslem population, because beside the potential demand reason, the Islamic financial industry services is also influenced by knowledge and regulation support.This study aims to determine the effect of knowledge and regulation toward the development of the Islamic financial industry. The study uses secondary data from ICD publications in 2013-2019 period for 41 countries. The data were analyzed using the panel data regression and moderating variables, where knowledge has been estimated as a moderating variable for the regulations effect on the Islamic financial industry development. The results showed that: (1) the regulation and the level of knowledge had a positive significant effect to the Islamic finance industry development; and (2) the knowledge variable becomes the moderator between regulation and the development of the Islamic financial industry. This shows that the knowledge would encourage the strengthening of the regulatory effect on the development of Islamic finance.
The Covid-19 pandemic has resulted in low demand for goods and services. The price level tends to be low. Meanwhile, the unemployment rate tends to be high due to weak demand. This condition appears to be in line with Phillips' view of the trade-off between the inflation rate and unemployment. This study aims to examine whether the Phillips curve phenomenon applies to the Indonesian economy during the Covid-19 pandemic. The research data was obtained from the publication of the Statistics Indonesia (BPS) with 34 provinces of analysis unit, period 2020. The data were analyzed using correlation and difference tests. The results show that the Phillips curve does not exist for the case of Indonesia nationally, but only exists in the Eastern Region of Indonesia. The results also show that there is no significant difference between inflation and unemployment rates in the group of provinces that implement Large-Scale Social Restrictions (pembatasan sosial berskala besar, PSBB) during the pandemic and those that do not implement PSBB. This paper recommends a more streamlined coordination of monetary and fiscal policies with the goal of achieving price stability for monetary policy and reducing unemployment for fiscal policy
Islamic Commercial Banks in Indonesia behave risk averse, which is indicated by financing based on murabaha. The focus of this research is to examine the composition of optimal financing and its correlation to the allocation of financing at the Islamic Commercial Bank. The research data was obtained through the publication of the Indonesian Financial Services Authority with an analysis period of June 2014 to December 2017. There were 13 types of financing allocated by Sharia commercial banks in Indonesia, but based on the completeness of the data, the types of financing estimated were 9 types. Data analysis is used with the mean variance and correlation. Calculation of data using the Excel Solver program. The results showed: (1) the composition of optimal financing at the Islamic Commercial Bank consisted of seven types of financing, and was based on four main groups, namely: mudharaba rupiah, murabaha forex, murabaha rupiah, and istisna rupiah; and (2) the composition of optimal financing and the composition of financing allocations to Islamic banks showed a low correlation; and (3) qardh financing which is the last ranking in the optimal portfolio composition, is still prioritized by Islamic Commercial Banks; driven by the sharia function on adapts non-commercial purposes.
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