Issues of Sukuk Ijarah

Sukuk Ijarah is the most popular sukuk that increase in over the world since its start to introduce in 2001.  Not only Muslim country who issued this sukuk, so do Non-Muslim Country such as Germany, Japan and China. However, there is issue that come up due to the non-existence of Shariah compliance in this structure such as the requirement of sukuk doesn’t meet Maqasid Shari’ah perspective. Therefore, the aims of this paper to discuss some issue in sukuk Ijarah and give solution in order to develop Islamic capital market

The Impacts of Trade Liberalization on Poverty Reduction in Indonesia

Nowadays, trade liberalization is considered as development strategy policy to increase economic growth and reduce poverty in many countries, particularly in developing countries. It is reported that Indonesia has been actively joining many trade agreements in order to ease the distribution of goods and services to other countries. Hence, this study analyses the impact of trade liberalization on poverty reduction by using an Ordinary Least Square (OLS) method from 1984 to 2017. The Trade Openness Ratio (TOR) is used as a dependent variable in order to measure trade liberalization. Other variables such as GDP, exchange rate and labor force are considered as control variables. The empirical result shows that TOR and labor force have a positive impact on poverty, whereas GDP and exchange rate have a negative impact. This finding is different with previous researches, particularly where trade liberalization has been negatively affecting poverty. Such a result is justifiable because Indonesian firms are not ready to compete with foreign firms where high competitiveness exist

Pengaruh Program Loyalitas terhadap Kesetiaan Konsumen pada Industri Halal di Yogyakarta

This study aims to examine the effect of perceived benefits of loyalty programs, which include: financial benefits, social benefits, hedonic benefits, symbolic benefits of loyalty programs in the Halal Industry. This study also examined the effect of loyalty programs on brand loyalty. This research was conducted using a quantitative approach, namely by conducting surveys, online with a sample of 200 respondents. The data in this study were processed using the Structural Equation Modeling (SEM) analysis version 21. The results showed that the financial benefit variables, social benefits, symbolic benefits had a significant positive effect on loyalty programs. While the hedonic variable on loyalty programs shows a negative relationship. This study also confirms the significant positive effect of the loyalty program on brand loyalty

Effect of early tranexamic acid administration on mortality, hysterectomy, and other morbidities in women with post-partum haemorrhage (WOMAN): an international, randomised, double-blind, placebo-controlled trial

Background Post-partum haemorrhage is the leading cause of maternal death worldwide. Early administration of tranexamic acid reduces deaths due to bleeding in trauma patients. We aimed to assess the effects of early administration of tranexamic acid on death, hysterectomy, and other relevant outcomes in women with post-partum haemorrhage. Methods In this randomised, double-blind, placebo-controlled trial, we recruited women aged 16 years and older with a clinical diagnosis of post-partum haemorrhage after a vaginal birth or caesarean section from 193 hospitals in 21 countries. We randomly assigned women to receive either 1 g intravenous tranexamic acid or matching placebo in addition to usual care. If bleeding continued after 30 min, or stopped and restarted within 24 h of the first dose, a second dose of 1 g of tranexamic acid or placebo could be given. Patients were assigned by selection of a numbered treatment pack from a box containing eight numbered packs that were identical apart from the pack number. Participants, care givers, and those assessing outcomes were masked to allocation. We originally planned to enrol 15 000 women with a composite primary endpoint of death from all-causes or hysterectomy within 42 days of giving birth. However, during the trial it became apparent that the decision to conduct a hysterectomy was often made at the same time as randomisation. Although tranexamic acid could influence the risk of death in these cases, it could not affect the risk of hysterectomy. We therefore increased the sample size from 15 000 to 20 000 women in order to estimate the effect of tranexamic acid on the risk of death from post-partum haemorrhage. All analyses were done on an intention-to-treat basis. This trial is registered with ISRCTN76912190 (Dec 8, 2008); ClinicalTrials.gov, number NCT00872469; and PACTR201007000192283. Findings Between March, 2010, and April, 2016, 20 060 women were enrolled and randomly assigned to receive tranexamic acid (n=10 051) or placebo (n=10 009), of whom 10 036 and 9985, respectively, were included in the analysis. Death due to bleeding was significantly reduced in women given tranexamic acid (155 [1·5%] of 10 036 patients vs 191 [1·9%] of 9985 in the placebo group, risk ratio [RR] 0·81, 95% CI 0·65–1·00; p=0·045), especially in women given treatment within 3 h of giving birth (89 [1·2%] in the tranexamic acid group vs 127 [1·7%] in the placebo group, RR 0·69, 95% CI 0·52–0·91; p=0·008). All other causes of death did not differ significantly by group. Hysterectomy was not reduced with tranexamic acid (358 [3·6%] patients in the tranexamic acid group vs 351 [3·5%] in the placebo group, RR 1·02, 95% CI 0·88–1·07; p=0·84). The composite primary endpoint of death from all causes or hysterectomy was not reduced with tranexamic acid (534 [5·3%] deaths or hysterectomies in the tranexamic acid group vs 546 [5·5%] in the placebo group, RR 0·97, 95% CI 0·87-1·09; p=0·65). Adverse events (including thromboembolic events) did not differ significantly in the tranexamic acid versus placebo group. Interpretation Tranexamic acid reduces death due to bleeding in women with post-partum haemorrhage with no adverse effects. When used as a treatment for postpartum haemorrhage, tranexamic acid should be given as soon as possible after bleeding onset. Funding London School of Hygiene & Tropical Medicine, Pfizer, UK Department of Health, Wellcome Trust, and Bill & Melinda Gates Foundation

THE IMPACT OF TRADE LIBERALIZATION ON POVERTY REDUCTION IN INDONESIA

Nowadays, trade liberalization is considered as development strategy policy to increase economic growth and reduce poverty in many countries, particularly in developing countries. It is reported that Indonesia has been actively joining many trade agreements in order to ease the distribution of goods and services to other countries. Hence, this study analyses the impact of trade liberalization on poverty reduction by using an Ordinary Least Square (OLS) method from 1984 to 2017. The Trade Openness Ratio (TOR) is used as a dependent variable in order to measure trade liberalization. Other variables such as GDP, exchange rate and labor force are considered as control variables. The empirical result shows that TOR and labor force have a positive impact on poverty, whereas GDP and exchange rate have a negative impact. This finding is different with previous researches, particularly where trade liberalization has been negatively affecting poverty. Such a result is justifiable because Indonesian firms are not ready to compete with foreign firms where high competitiveness exist. </p

Determinants of Profitability in Indonesian Islamic Banking: Case Study in the COVID-19 Period

With a high level of COVID-19 virus spread throughout the world, Indonesia is one of the countries in Southeast Asia affected by the largest transmission chain. This affects various layers of the industry in this country, one of which is financial institutions and the banking system. This paper tries to look at the performance of Islamic banking in the face of the COVID-19 pandemic. Using the linear regression method, the authors use ROA as the dependent variable. Whereas CAR, NPF, FDR, and BOPO as independent variables. The results show that CAR and BOPO have significant results while the rest do not show satisfactory results. It can be concluded that during the pandemic, Islamic banking experienced a pretty good and convincing performance

Determinants of Profitability in Indonesian Islamic Banking: Case Study in the COVID-19 Period

With a high level of COVID-19 virus spread throughout the world, Indonesia is one of the countries in Southeast Asia affected by the largest transmission chain. This affects various layers of the industry in this country, one of which is financial institutions and the banking system. This paper tries to look at the performance of Islamic banking in the face of the COVID-19 pandemic. Using the linear regression method, the authors use ROA as the dependent variable. Whereas CAR, NPF, FDR, and BOPO as independent variables. The results show that CAR and BOPO have significant results while the rest do not show satisfactory results. It can be concluded that during the pandemic, Islamic banking experienced a pretty good and convincing performance

Harnessing clinical psychiatric data with an electronic assessment tool (OPCRIT+):the utility of symptom dimensions

Progress in personalised psychiatry is dependent on researchers having access to systematic and accurately acquired symptom data across clinical diagnoses. We have developed a structured psychiatric assessment tool, OPCRIT+, that is being introduced into the electronic medical records system of the South London and Maudsley NHS Foundation Trust which can help to achieve this. In this report we examine the utility of the symptom data being collected with the tool. Cross-sectional mental state data from a mixed-diagnostic cohort of 876 inpatients was subjected to a principal components analysis (PCA). Six components, explaining 46% of the variance in recorded symptoms, were extracted. The components represented dimensions of mania, depression, positive symptoms, anxiety, negative symptoms and disorganization. As indicated by component scores, different clinical diagnoses demonstrated distinct symptom profiles characterized by wide-ranging levels of severity. When comparing the predictive value of symptoms against diagnosis for a variety of clinical outcome measures (e.g. 'Overactive, aggressive behaviour'), symptoms proved superior in five instances (R(2) range: 0.06-0.28) whereas diagnosis was best just once (R(2):0.25). This report demonstrates that symptom data being routinely gathered in an NHS trust, when documented on the appropriate tool, have considerable potential for onward use in a variety of clinical and research applications via representation as dimensions of psychopathology