Perbandingan Model Pembiayaan Syariah Dalam Mendorong Pertumbuhan Ekonomi: Analisis Kualitatif Di Negara-Negara Berpenduduk Mayoritas Muslim
DOI:
https://doi.org/10.59841/excellence.v2i1.907Keywords:
Sharia financing, economic growth, Islamic banking, financial literacyAbstract
This research compares the implementation of Sharia financing models in Malaysia, Indonesia, Bahrain, the United Arab Emirates, and Qatar to analyze their roles in driving economic growth. A qualitative approach is employed to evaluate regulations, infrastructure, and literacy levels related to Sharia financing in these five countries. The results indicate differences in product coverage, market structures, and regulations governing the Sharia financing sector in each country. The more rapid development of Sharia financing in Malaysia and Bahrain correlates with higher economic growth in both nations. This study concludes that a conducive regulatory framework and infrastructure are crucial to promoting the development of Sharia financing, enabling it to play an optimal role in driving economic growth. Integrated policies are needed to strengthen the Islamic financial industry across various Muslim-majority countries.
References
Abduh, M., & Azmi Omar, M. (2012). Islamic banking and economic growth: The Indonesian experience. International Journal of Islamic and Middle Eastern Finance and Management, 5(1), 35-47. https://doi.org/10.1108/17538391211216811
Abduh, M., Brahim, S., & Omar, M. A. (2011). Islamic banking and economic growth in GCC & East Asia countries: A panel cointegration analysis. Journal of Islamic Accounting and Business Research, 2(2), 151-172. https://doi.org/10.1108/17590811111170539
Ahmed, H. (2011). Product development in Islamic banks. Edinburgh, Scotland: Edinburgh University Press.
Akram Laldin, M. (2008). Islamic financial system: The Malaysian experience and the way forward. Humanomics, 24(3), 217-238. https://doi.org/10.1108/08288660810909350
Bashir, A.-H. M. (2003). Determinants of profitability in Islamic banks: Some evidence from the Middle East. Islamic Economic Studies, 11(1), 31-57.
Billah, M. M. (2019). Islamic banking and finance in South-East Asia: Its development and future. Singapore: Springer.
Farooq, M., & Zaheer, S. (2015). Are Islamic banks more resilient during financial panics? Pacific Economic Review, 20(1), 101-124. https://doi.org/10.1111/1468-0106.12082.
Hasan, M., & Dridi, J. (2010). The effects of the global crisis on Islamic and conventional banks: A comparative study. IMF Working Paper No. 10/201. https://doi.org/10.5089/9781462302410.001
Iqbal, M., & Molyneux, P. (2016). Thirty years of Islamic banking: History, performance, and prospects. New York, NY: Palgrave Macmillan.
Khir, K., Gupta, L., & Shanmugam, B. (2008). Islamic banking: A practical perspective. Petaling Jaya, Malaysia: Pearson.
Nawaz, T. (2020). Momentum and determinants of Islamic banking in Pakistan. Entrepreneurial Business and Economics Review, 8(2), 119-140. https://doi.org/10.15678/EBER.2020.080207
Rahman, A. R. A. (2010). Islamic microfinance: An ethical alternative to poverty alleviation. Humanomics, 26(4), 284-295. https://doi.org/10.1108/08288661011090884
Safiullah, M., & Shamsuddin, A. (2018). Risk in Islamic banking and corporate governance. Pacific-Basin Finance Journal, 47, 129-149. https://doi.org/10.1016/j.pacfin.2017.12.003
Srairi, S. A. (2015). Corporate governance disclosure practices and performance of Islamic banks in GCC countries. Journal of Islamic Finance, 4(2), 1-17. https://doi.org/10.12816/0019022
Sufian, F. (2007). The efficiency of Islamic banking industry in Malaysia: Foreign vs domestic banks. Humanomics, 23(3), 174-192. https://doi.org/10.1108/08288660710779375
Zaheer, S., & Farooq, M. (2014). On the robustness of Islamic banking during the financial turmoil. Economic Modelling, 42, 50-57. https://doi.org/10.1016/j.econmod.2014.05.025
Zulkhibri, M. (2015). A synthesis of theoretical and empirical research on Islamic banking financial performance. International Journal of Islamic and Middle Eastern Finance and Management, 8(4), 448-466. https://doi.org/10.1108/IMEFM-08-2014-0094
