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The Effect of Exchange Rates and Interest Rates on Sharia Stock Index in Indonesia: Before and During the Covid-19 Pandemic Dewi, Sri Yanita; Maesya’bani; Mutmainah, Lu'liyatul
ITQAN: Journal of Islamic Economics, Management, and Finance Vol. 1 No. 2 (2022): ITQAN: Journal of Islamic Economics, Management, and Finance
Publisher : Itqanpreneurs Publishing, Yayasan Mitra Peduli Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (696.937 KB) | DOI: 10.57053/itqan.v1i2.8

Abstract

The Islamic Stock Market is starting to take on a role in Indonesia's developing Islamic finance sector. One of the stock price indicators can be seen from the combined sharia stock index, which currently has four types of stock indexes. Previous research found several factors that influence the fluctuations in the sharia stock index, both from internal company factors and macroeconomic conditions. However, little research still compares the effects of exchange rates before and during the Covid-19 pandemic. This study aims to provide new empirical data on the conditions of the Islamic stock market in Indonesia before and during the Covid-19 pandemic. Practically, this research analyses the Islamic capital market and regulators in formulating financial policies. What used the linear regression method to process secondary data in daily data on the JII stock index, JII 70, exchange rates, and interest rates. The study results show that exchange rates and interest rates affect ISSI, JII, and JII70 before and during the pandemic.
Measuring The Trust of Corporate Waqifs to Donate Cash Waqf to The Indonesian Waqf Board Dewi, Sri Yanita; Ismal, Rifki; Tanjung, Hendri
International Journal of Economics (IJEC) Vol. 3 No. 1 (2024): January-June
Publisher : PT Inovasi Pratama Internasional

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55299/ijec.v3i1.791

Abstract

This research aims to measure the trust of institutional waqif to distribute waqf to waqf institutions, in this case, the Indonesian Waqf Board (BWI), in the form of an index referring to the Waqf Core Principles (WCP). This study measures the trust of institutional waqif to distribute cash waqf through BWI based on WCP using an index (100 scale), which composed of individual index of waqf supervision, nazhir governance, risk management, sharia governance, and the overall trust index. The institutional waqif trust index to distribute waqf to BWI is “trust” (53.36). Based on components: a. waqf supervision index is trust (13.49), b. nazhir governance index is trust (3.18), risk management index is trust (25.24), and sharia governance index is trust (11.45). Increasing the trust of institutional waqf in BWI can be done through the improvement and management of waqf from large-scale institutional waqf, preparation of BWI communication strategies which include implementation of waqf and policies, and transfer of knowledge from waqf institutions to institutional waqif. This thesis will provide additional knowledge to academics regarding the potential of institutional waqif and the implementation of WCP in Indonesia. In addition, this research practically provides recommendations for regulators, waqf institutions, and related parties to optimize the collection, management, and supervision of waqf in Indonesia. Based on the author's knowledge, this is the first paper to measure the trustworthiness of institutional waqif. This paper is expected to provide novelty regarding the level of trust of a institutional waqif to a waqf institution in the form of an index.