Kontribusi Pembiayaan Bank Syariah untuk Sektor Pertanian di Indonesia

Based on Islamic Banking Law Article 1 paragraph 2 funding was the main activity for Islamic banking in its function as a financial intermediary and drived real sector. This study was aim to determine how much the influences of SBIS, amount of DPK, Non Performing Financing and the exchange rate of dollar against the Islamic banking financing as well as the contribution of Islamic bank financing for the agricultural sector in Indonesia by using VAR/VECM approach. VECM results indicated variables that affected agricultural financing in the short term was variable LNER and SBIS. While in the long term variable lnDPK and lnNPF statistically significant against to agricultural financing. The results of IRF showed that lnDPK, lnNPF and LNER responded positively influencing the contribution of financing on Islamic bank for the agricultural sector in Indonesia. As for The contribution of financing on Islamic bank for the agricultural sector in Indonesia, LNER gave the largest contribution to the Islamic bank financing for the agricultural sector in Indonesia, followed by the variable SBIS, lnDPK, and lnNPF. The higher value of rupiah would increase the financing by the islamic banking for Agricultural sector, as would as the lower of rate SBIS would increase the financing of islamic banking

Analisis Determinan Peringkat Sukuk dan Peringkat Obligasi di Indonesia

This study attempts to analyze the determinants of sukuk and bond rating in Indonesia. The purpose of this study is to determine factors influencing sukuk and bond rating using separate test. The study uses financial and non financial ratios such as company growth, firm size, profitability, liquidity, leverage ratio, and sukuk and bond maturity. This study examines corporate sukuk and bond that listed from 2004-2006 (9 sukuk and 15 bonds) at Indonesian Stock Exchange for the period of 2007-2009. This research employs ordinal logistic regression. The result of the study reveales that only firm size variable determines sukuk rating while others are not (growth, profitability, liquidity, leverage ratio and maturity). Firm size, profitability, and maturity influences the bond rating above 5 years while growth, liquidity, and leverage ratio are not significantly influence the bond rating.JEL Classification: E44,G1