Responses of Islamic banking variables to monetary policy shocks in Indonesia

Hafidh, Aula Ahmad

doi:10.1108/ies-11-2020-0049

Cited by 3 publications

(4 citation statements)

References 36 publications

Supporting

Mentioning

Contrasting

Unclassified

Order By: Relevance

“…Several previous studies have examined monetary transmission mechanisms, especially the role of Sharia banking. Ascarya (2012), Fikri (2018, Hafidh (2021), and Madani and Widiastuti (2021) examine the monetary transmission mechanism for case studies in Indonesia. Ascarya (2012) states that fluctuations in SBIS, PUAS, profit-sharing, and Sharia financing have a permanent and positive impact on economic growth and inflation.…”

Section: Literature Reviewmentioning

confidence: 99%

“…So, Bank Indonesia, as the implementer of monetary policy in Indonesia, needs to carry out its duties well so that the goal of maintaining the stability of the value of the rupiah. As a country that implements a dual banking system, Indonesia operates Sharia and conventional banking systems side-by-side based on the 1998 Banking Law (Hafidh, 2021). Therefore, Indonesia implements Sharia and conventional monetary policies.…”

Section: Introductionmentioning

confidence: 99%

See 1 more Smart Citation

The effect of Sharia monetary policy instruments and Islamic bank financing on economic growth and inflation

Winarto,

Beik

2024

J. Eko. Keu. Isl.

View full text Add to dashboard Cite

Purpose – This study aims to determine the influence of Open Market Operations (Sertifikat Bank Indonesia Syariah, SBIS), Sukuk of Bank Indonesia (Sukuk Bank Indonesia, SukBI), Bank Indonesia Sharia Deposit Facility (Fasilitas Simpanan Bank Indonesia, FASBIS), Islamic Interbank Money Market (IIMM/Pasar Uang Antar Bank Syariah, PUAS), and Islamic Bank Financing on economic growth and inflation in Indonesia. Methodology – This study uses the Vector Error Correction Model (VECM), which uses monthly data from January 2017 to December 2022.Findings – The results of the VECM analysis show that, in the short and long term, the FASBIS and PUAS variables significantly affect economic growth. The Covid-19 pandemic has a significant effect in the short term, whereas Islamic Bank Financing has a significant effect in the long term. In the Inflation model, only FASBIS has a significant short-term effect. In the long-term, FASBIS, PUAS, and Islamic Bank Financing significantly affect inflation. Implications – The results of this research suggest that the Government and Bank Indonesia will need to re-evaluate Sharia Open Market Operations, especially SBIS and SukBI instruments. This is the impact of the estimation results on the Open Market Operation variable, which are not significant, and the IRF results, which are negative in the Economic Growth Model and positive in the Inflation Model, indicating that the Open Market Operation variable actually inhibits economic growth and triggers inflation. Originality – This study discusses the influence of Sharia monetary instruments before and after the Covid-19 pandemic and adds the SukBI instrument as a Sharia monetary instrument.

show abstract

Section: Literature Reviewmentioning

confidence: 99%

Section: Introductionmentioning

confidence: 99%

The effect of Sharia monetary policy instruments and Islamic bank financing on economic growth and inflation

Winarto,

Beik

2024

J. Eko. Keu. Isl.

View full text Add to dashboard Cite

show abstract

“…Pentingnya bagi bank sentral menentukan jalur -jalur transmisi sebagai landasan acuan stance kebijakan moneter, instrumen yang digunakan, waktu dan besaran respon dari feedback yang diharapkan (Warjiyo & Juhro, 2017). Mekanisme transmisi kebijakan moneter merupakan fenomena yang rumit, karena transmisi pada ekonomi makro memiliki dan melalui beberapa saluran (Hafidh, 2021). Penelitian mengenai mekanisme transmisi kebijakan moneter merupakan hal yang penting karena beririsan dengan makroekonomi dan keuangan dalam membantu pemahaman tentang pilar urgensi mikro dibalik ekonomi makro dan bagaimana saluran transmisi terbukti memiliki nilai teoretis dan signifikan untuk pemahaman yang berlanjut dalam mekanisme transmisi kebijakan moneter di China (Fan & Jianzhou, 2011).…”

Section: Pendahuluanunclassified

Efektivitas Transmisi Kebijakan Moneter Melalui Jalur Kredit Perbankan Dan Harga Aset Dalam Mencapai Inflasi

Mu’ammal

2022

AT-Tadbir j. ilm. manaj.

View full text Add to dashboard Cite

Bank Indonesia as the monetary authority has a role in determining the direction of expansionary and contractionary monetary policy. Monetary policy transmission has an important role in controlling inflation in Indonesia. The role of credit channels and asset prices in the transmission of monetary policy can affect business activities for business people and public actors as consumers and stimulate economic activity. The function of the credit channel and asset prices as an intermediary for monetary policy is to control and minimize information imperfections, the possibility of fraud, and adverse selection. The purpose of this study is to explain the role of credit channels and asset prices in contributing to inflation in the long run. This study uses the VECM method. This study proves that the BI7DayRR, investment credit, working capital credit, JCI and DPK variables have a significant long-term effect on inflation. The important role of Bank Indonesia as the monetary authority is to maintain inflation stability through the credit channel and asset price channel. The importance of continuous coordination between the central government, regulators and the monetary authority, namely Bank Indonesia, in terms of maintaining inflation.

show abstract

“…Sharia banking issues have been widely studied, both from the economic aspect [6][7][8], finance and accounting [9][10][11], HR Management [12,13], and Marketing [14][15][16]. In addition, literature studies on Islamic banking have also been carried out by several researchers, including a study to identify research topics at Islamic Microfinance Institutions [17], a study to identify research topics in Islamic banks using Data Envelopment Analysis (DEA) [18], a study to identify the topic of Islamic economics and finance [19], and a study to identify the topic of shariah governance [20].…”

Section: Introductionmentioning

confidence: 99%

Marketing in Indonesia Islamic Banking and Finance

Christiyanto,

Hurriyati,

Widjajanta

et al. 2023

Proceedings of the 7th Global Conference on Business, Management, and Entrepreneurship (GCBME 2022)

View full text Add to dashboard Cite

Islamic banking has a long history in Indonesia, and it is frequently researched in numerous studies, particularly from the viewpoints of economics, finance, and accounting. On the other hand, there have been few marketing studies on Islamic banking in Indonesia. Furthermore, studies on commercial banks dominate marketing studies on Islamic banking. Marketing research on Islamic Rural Banks, Islamic Finance, Islamic Cooperation, and other Islamic microfinance institutions, on the other hand, has been sparse. Due to the disparity in market share between Islamic and conventional banking in Indonesia, academics have reviewed studies on the marketing of Islamic banks in the country. In economics, finance, and accounting, previous academics did a literature review on Islamic banking in general. On the other hand, this study conducted a literature review on the marketing of Islamic banks in Indonesia, including commercial and microbanks. The purpose of this paper is to determine the design and research methods, the theory used, and the variables involved in the marketing of Islamic Banks and Islamic microfinance institutions in Indonesia. This study did a thorough literature review to discover prior studies' literature. Articles were selected from Proquest, Science Direct, Emerald, Taylor Francis, and EBSCO databases. Only ten articles were connected to marketing in Islamic banking in Indonesia, according to the title, abstract, and content of the 224 articles that matched the search string that has been identified. The result of this study explained (i) the different research designs and methodologies used to study marketing in Islamic banks in Indonesia, (ii) the theories used to explain marketing studies in Islamic banks in Indonesia, and (iii) the variables involved in the Marketing study in Islamic banks in Indonesia. In addition, this work provides a marketing-related model for Islamic banking in Indonesia, which might be extended further for future research. This study's output is a synthesis of other papers on connected subjects. This is because the findings of this study may be utilized to locate, browse, assess, and analyze all existing research on Indonesia's Islamic banking and microfinance industries.

show abstract

Responses of Islamic banking variables to monetary policy shocks in Indonesia

Cited by 3 publications

References 36 publications

The effect of Sharia monetary policy instruments and Islamic bank financing on economic growth and inflation

The effect of Sharia monetary policy instruments and Islamic bank financing on economic growth and inflation

Efektivitas Transmisi Kebijakan Moneter Melalui Jalur Kredit Perbankan Dan Harga Aset Dalam Mencapai Inflasi

Marketing in Indonesia Islamic Banking and Finance

Contact Info

Product

Resources

About