• The Journal of Asian Finance, Economics and Business
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• 제8권2호
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• pp.981-992
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• 2021

This study identifies the determinants of potential failure of Islamic Peer-to-Peer (P2P) lending in Indonesia, and the mediating effect of Islamic ethics on reducing the potential for failure of Islamic P2P lending. This study uses primary data retrieved through questionnaires from the perspective of 152 stakeholders in Islamic P2P lending. Using a structural equation model (SEM), the study found that indebtedness, financing size, and governance have positive and significant relationships with the potential failure of Islamic P2P lending. This study provides evidence that the customer's internal conditions and the governance structure applied can increase the potential failure of Islamic P2P lending. Further, Islamic ethics is evidently able to partially reduce the potential failure of Islamic P2P lending by lessening risk management exposure, but it fails to address failure through Ponzi scheme exposure. As an implication, this study suggest that Islamic P2P lending must implement Islamic ethics more comprehensively by optimizing the advisory and supervisory role of the shariah board within their overall boards of directors also in their operational activities. Finally, it also adds to the existing knowledge on financial technology literature, particularly on the determinants of potential failure of financial technology from the perspective of stakeholders.

• The Journal of Asian Finance, Economics and Business
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• 제7권12호
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• pp.721-730
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• 2020

This study investigates the impact of the country's governance on the revenue efficiency of 108 Islamic banks from 26 countries offering Islamic banking and finance products services. The technical efficiencies of individual Islamic banks have been analyzed using the Data Envelopment Analysis method. The data will be pooled across the selected countries and utilize the intermediation approach. The Ordinary Least Square estimation method is employed to examine the impact of country supervision and regulation on the technical efficiency of Islamic banks. As robustness check, the study examines the impact of the level of bank regulations and supervision on the efficiency of Islamic banks operating in different income-level countries. The results found that the stricter the supervisory power, the less strict capital requirement, the tighter the restrictions on non-banking activities, and the stricter the private monitoring enhance statistically significantly the level of efficiency of Islamic banks. In upgrading the regulations and supervision of the Islamic banks, the existing regulatory framework based on the Basel Committee on Banking Supervision (BCBS) must be complemented with the prescriptions on Islamic banking or Shariah compliance diligently, so that the Islamic banks could be regulated accurately and further improve the technical efficiency of their operations.

• The Journal of Asian Finance, Economics and Business
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• 제7권11호
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• pp.1077-1085
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• 2020

This research is a literacy study regarding the implementation and management of the economic role of haria as a new strategy in overcoming the problem of the global financial crisis that has hit the middle of the COVID-19 pandemic. The research method comes from previous studies to compare the capitalist, socialist, and sharia economic systems. In response to various economic uncertainties, both internal and external, the ability to seize opportunities and transform has become the key to economic resilience. Islamic economics can be an alternative in responding to the dynamics of the global and national economy. Several things need to be taken into consideration in fulfilling the sharia economy and the primary strategy chosen must come from the inputs given by the stakeholders, including business actors, associations, regulators as well as experts, and academicians. The primary strategy in implementing the sharia economy also requires the support of various parties in order to develop sustainability. Strengthening regulation and governance is one of the fundamental factors. Optimization of the sharia economy based social sector such as Zakat, Infaq, Sadaqah, and Waqaf can be optimized both for collection and distribution so that the concept of sharing can certainly support the development and the economy both nationally and globally.

• 만화애니메이션 연구
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• 통권25호
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• pp.133-154
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• 2011

양영순의 "천일야화"는 작가 자신에게도 첫 장편 극화라는 의미가 있는 작품이고, 우리나라 만화계에도 웹환경에 최적화된 양질의 웹툰의 시작이라는 의미가 있다. 본 논문은 원작과 차별적으로 재구성된 "천일야화"의 의미구조를 르네 지라르의 모방 욕망 이론과 희생양 메커니즘으로 설명해 보고자 했다. 작가는 매일 여성을 죽이는 왕, 샤 리야르의 수수께기와 같은 내면을 선왕과의 비교의식 위에 진짜 꿈을 잃고 왕비의 사랑이라는 잘못된 대상 추구에 빠져있던 어리석음으로 드러내고, 이와 대비되어 세라자드의 희생정신과 지혜를 보여주었다. 샤 리야르는 세라자드가 들려주는 다섯 이야기를 겪으며 자신을 사로잡고 있던 부정성을 발견하고 자신을 지탱해주고 있던 이들에 대한 감사와 원래의 꿈을 되찾았다. 양영순의 "천일야화"는 인간의 어리석고 어두운 측면을 적극적으로 끌어들여 공감대를 형성했기 때문에 결말부분에 가서는 주인공인 샤 리야르가 그 값을 치루는 희생양으로 죽임을 당한다. 그러나 긍정적인 힘을 보여주었던 세라자드가 낳는 그의 아들을 통하여 샤 리야르가 방황가운데 되찾은 꿈이 이루어지는 보완적인 완결을 이루었다.

• 동남아시아연구
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• 제21권2호
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• pp.155-182
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• 2011

The purpose of this paper is to examine the process of Islamization in Java, focusing on religious discourse among Muslim intellectuals. How Islamic tradition and knowledge have been perceived and utilized and how they have interacted with those of non-Islamic origin will be discussed. For this, three Islam-related books written in different phases of Islamization are to be analyzed: Babad Tanah Jawi compiled by Mataram court in the 17th century, Serat Cabolek written by a court poet in the late 18th or early 19th century, and Fikih Anti-korupsi published by reformist and scriptural organization of Muhammadiyah in 2006. Babad portrays conversion to Islam as a process which does not demand a dramatic outward change in religious practice. Scriptural tradition of Islam and the dichotomy between what is Islamic and what is not were not mentioned in order to explain conversion. Spiritual and mystical enlightenment was emphasized heavily, and for this, the importance of non-Islamic traditions was fully acknowledged. Serat tells us that this period was characterized by the surge of scriptural and shariah-minded Islam, maintenance of non-Islamic traditions, clashes between scriptural Islam and old religious traditions, and Javanese efforts to harmonize these. In Fikih, non-Islamic tradition is replaced by scriptural Islam and disappears totally. Interpretations based on the Scriptures, however, do not monopolize it and are used together with mode of analysis from the West. It is too much to call this 'intellectual syncretism', in that Islamic Scriptures and Western knowledge do not mix but stand side by side. Three books under examination reveal that the process of Islamization in Java has not been uniform. It has been conditioned and shaped by local socio-cultural and historical circumstances, where active engagement and intellectual exercise of Javanese Muslims have played key roles. Even Islamization in the last few decades is not an exception. The surge of scripturalism and fundamentalism does not simply bring about a move to Arabization. Interacting with local intellectual and socio-cultural milieu, this has produced a sort of intellectual hybridity, which is unique to Muslim society of Java.