Respon Perbankan Syariah di Indonesia terhadap Bauran Kebijakan Bank Sentral

https://doi.org/10.52593/mtq.04.2.02

Authors

  • Nurul Azizah Az zakiyyah Universitas Ahmad Dahlan, Indonesia
  • Arief Mulyawan STAI DR. KH. EZ. Muttaqien Purwakarta, Indonesia

Keywords:

Makroprudensial, Bauran Kebijakan, Perbankan Syariah, Moneter

Abstract

Indonesia adheres to a dual banking system and a dual monetary system which causes conventional and Islamic banking to operate together. On the other hand, various central bank policies, including fiscal, monetary, portfolio management, and macroprudential policies, are still dominated by the conventional basis, which poses a challenge for sharia banking. This study aims to analyze how Islamic banking responds to various shocks or shocks caused by the policy mix. The method used in this research is VECM analysis accompanied by Impulse Response Function (IRF) and Variance Decomposition (VD). The period used starts in 2012 Q1 to 2021 Q4. The independent variables used are Government Total Expenditure (GEXP), Policy Interest Rate (PIR), Broad Money (M2), Investment Portfolio (PI), Sharia Macroprudential Intermediation Ratio (RIM), and Consumer Price Index (CPI). In contrast, the dependent variable is Total Islamic Banking Assets (TAPS). The results show that PIR, M2, and CPI have a negative response, while GEXP, PI, GDP, and RIM respond positively

References

Bank Indonesia. (2013). Statistik Perbankan Syariah Januari 2013. Jakarta: Bank Indonesia. (http://www.bi.go.id, diakses 8 Februari 2023)

Cahyono, E. F., & Rani, L. N. (2018). Macroprudential Policy on Sharia Banking Financing The Indonesian Experience.Shirkah Journal of Economics and Business, III, 153-177.

Dzulhijjah, Gilang Maulana. (2021). Efektivitas Instrumen Kebijakan Makroprudensial Terhadap Risiko Pembiayaan Bank Syariah (Studi Pada Bank Umum Syariah Periode 2016-2020). Skripsi Jurusan Perbankan Syariah Fakultas Ekonomi dan Bisnis Universitas Islam Negeri Syarif Hidayatullah.

Fadili, F., Zainuri, Z., & Priyono, T. H. (2018). Analisis Risk-Taking Behavior Sektor Perbankan Dalam Merespon Bauran Kebijakan Bank Indonesia. UNEJ e-Proceeding

Ismail, Perbankan Syariah (Jakarta : Kencana-Prenada Media Group 2011), h.31-32

Kassim S. 2015. Islamic Finance and Economic Growth: The Malaysian Experience. Global Finance Journal. 3(38): 15-17.doi:10.1016/j.gfj.2015.11.007

Kassim S. Yusuf RM, Majid MSA. 2009. Impact of Monetary Policy Shocks on the Conventional and Islamic Banks in a dual Banking System: Evidence from Malaysia. Journal of economic Cooperation and Development. 30(1): 41-58.

Leong BT, Abdul Aziz AR. (2015). GFC Impact on Real Estate Investment Trusts (REITs) in Malaysia. Di dalam: 21st Annual Pacific Rim Real Estate Society Conference. 18-21 January 2015; Kuala Lumpur, Malaysia. Kuala Lumpur (MY): 3-6

Machmud A, Rukmana. (2010). BANK SYARIAH Teori, Kebijakan dan Studi Empiris di Indonesia. Jakarta (ID): Erlangga

Maretha VR. 2012. Dampak Kebijakan Fiskal, Kebijakan Moneter dan Keterbukaan Perdagangan terhadap Pertumbuhan Ekonomi: Studi Komparatif Negara-Negara ASEAN+6 [skripsi]. Bogor (ID): Institut Pertanian Bogor

Mutiah A, Tamanni L. (2010). Analisis Pengaruh Monetary Policy Shock Terhadap Jumlah Deposito Perbankan Islam Dalam Sistem Perbankan Ganda: Studi Kasus Indonesia dan Malaysia. Islamic Finance & Business Review. 5(1):34-35.

Nuryana, I. (2017). Assessment Efektifitas Instrumen Makroprudensial Dalam Mengurangi Risiko Kredit Perbankan Di Indonesia (Studi Pada Perbankan Go Public Periode 2012-2015). Referensi: Jurnal Ilmu Manajemen dan Akuntansi, 5(1), 55-68.

Qoyum, A., & Fauziyyah, N. E. (2018). In Search for Islamic Macroprudential Policy in Indonesia: The Case of Financing to Value (FTV) and Property Financing. Ihtifaz: Journal of Islamic Economics, Finance, and Banking, 1(1), 1-20.

Rahayu AS. 2010. Pengantar Kebijakan Fiskal. Jakarta (ID): Bumi Aksara.

Sakti, M. R., Thaker, H. M., Qoyum, A., & Qizam, I. (2018). The Concept and Practice of Macroprudential Policy in Indonesia : Islamic and Conventional.Jurnal Ilmu Ekonomi Syariah ( Journal of Islamic Economics), X No. 1, 75-96

Sari, Indana Zulfa. (2017). Dampak Kebijakan Fiskal dan Moneter Terhadap Perkembangan Perbankan Syariah di Indonesia dan Malaysia

Warjiyo, Perry. Bauran Kebijakan Bank Sentral : Konsepsi Pokok dan Pengalaman Bank Indonesia. Seri Kebanksentralan. H,16

Zulkhibri, M. (2019). Macroprudential policy and tools in a dual banking system: insights from the literature. Borsa Istanbul Review, 19(1), 65-76.

Published

2023-07-31

How to Cite

Az zakiyyah, N. A., & Mulyawan, A. (2023). Respon Perbankan Syariah di Indonesia terhadap Bauran Kebijakan Bank Sentral. Muttaqien; Indonesian Journal of Multidiciplinary Islamic Studies, 4(2), 99–110. https://doi.org/10.52593/mtq.04.2.02

Issue

Vol. 4 No. 2 (2023): Muttaqien; Indonesian Journal of Multidiciplinary Islamic Studies

Section

Articles
Copyright & Licensing

Muttaqien; Indonesian Journal of Multidiciplinary Islamic Studies allow the author(s) to hold the copyright without restrictions and allow the author(s) to retain publishing rights without restrictions and authors who publish with this journal agree to the following terms:

1) Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a Creative Commons Attribution License that allows others to share the work with an acknowledgment of the work's authorship and initial publication in this journal.
 
2) Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgment of its initial publication in this journal.
 
3) Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work.

In developing strategy and setting priorities, Muttaqien; Indonesian Journal of Multidiciplinary Islamic Studies recognize that free access is better than priced access, libre access is better than free access, and libre under CC-BY-SA or the equivalent is better than libre under more restrictive open licenses. We should achieve what we can when we can. We should not delay achieving free in order to achieve libre, and we should not stop with free when we can achieve libre.

Muttaqien; Indonesian Journal of Multidiciplinary Islamic Studies has a CC-BY SA license or its equivalent as the optimal license for publication, distribution, use and reuse of scientific work. This license is under a Creative Commons Attribution 4.0 International License.

Creative Commons License

You are free to:

  • Adapt — remix, transform, and build upon the material for any purpose, even commercially.
  • The licensor cannot revoke these freedoms as long as you follow the license terms.