Article Sidebar

Download
Full text PDF
Statistic
Read Counter : 282 Download : 757

Downloads

Download data is not yet available.

Main Article Content

Abstract

Purpose – This study aims to evaluate the impact of financial services authority's regulation (POJK) regarding the implementation of Covid-19 Countercyclical in Islamic rural banks.
Methodology – This study uses time-series data taken from Financial Services Authority (OJK)'s database covering the period from March 2020 - March 2022. Cointegration test show that there is no cointeggration and the variable is not stationary at the same order/degree, therefore the VAR method is used.
Findings – This study reveals that POJK have significant impact on CAR, EAQ, and REO ratios and integrated in the long term. Moreover, this study also find that POJK have a causal or reciprocal effect on CAR and REO which occur in one direction. Futhermore, this study portrays that POJK have a positive impact in returning CAR, EAQ and REO ratios to a positive condition at least 10 months since POJK published, except for CR that before pandemic was in a positive condition.
Implications – It is necessary for the BPRS to conduct a stress test on the implementation of the said restructuring and its impact on the finances and ratios of the BPRS as the first step for the BPRS to carry out mitigation if things that are not desired by the BPRS occur.
Originality – This paper examines the effect of the implementation of POJK Number 11/POJK.03/2020 which is further amended through POJK Number 48/POJK.03/2020 concerning national economic stimulus as a countercyclical policy impact of the spread of coronavirus disease 2019 on the Islamic rural bank soundness level during Covid 19 pandemic.

Keywords

NPF Ratio CAR EAQ Ratio REO CR

Article Details

License

Copyright (c) 2023 Rizki Maulana, Jaka Sriyana

Creative Commons License

This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License.

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 (See The Effect of Open Access).
How to Cite
Maulana, R., & Sriyana, J. (2023). The The effect of a countercyclical Covid 19 policy on the main financial ratios in Islamic rural banks . Jurnal Ekonomi & Keuangan Islam, 9(1), 122–135. https://doi.org/10.20885/JEKI.vol9.iss1.art9
Download Citation
Endnote/Zotero/Mendeley (RIS)
BibTeX
Crossref
Scopus
Google Scholar
Europe PMC

References

  1. Africano, F. (2016). Pengaruh NPF terhadap CAR serta dampaknya terhadap profitabilitas bank umum syariah di Indonesia, Jurnal Ilmiah STIE MDP, 6(1), 61-70. http://forbiswira.stie-mdp.ac.id/wp-content/uploads/2016/09/6.-Jurnal-Fernando.pdf
  2. Amelia, E., & Hardini, E. F. (2017). Determinant of mudharabah financing: A study at Indonesian Islamic rural banking. Etikonomi, 16(1), 43–52. https://doi.org/10.15408 /etk.v16i1.4638.
  3. Ariffin, N. M., Kassim, S. H., & Razak, D. A. (2015). Exploring application of equity-based financing through mushārakah mutanāqiṣah in Islamic banks in Malaysia: Perspective from the industry players, International Journal of Economics, Management and Accounting, 2, 241-261. https://journals.iium.edu. my/enmjournal/index.php/enmj/article/view/338.
  4. Arianto, B. (2020). Dampak pandemi Covid-19 terhadap perekonomian dunia. Jurnal Ekonomi Perjuangan, 2(2), 106-126. https://doi.org/10.36423/jumper.v2i2.665
  5. Aziz, M. I. A., & Dahalan, J. (2015). Oil price shocks and macroeconomic activities in Asean-5 countries: A panel VAR approach. Eurasian Journal of Business and Economics, 8(16), 101-120. https://www.ejbe.org/index.php/EJBE/article/view/156
  6. Dipoyanti, M. P., Fasa, M. I., & Suharto, S. (2022). Pengaruh implementasi POJK No.11/POJK.03/2020 terhadap non performing financing (NPF) di bank syariah Mandiri. JIHBIZ: Global Journal of Islamic Banking and Finance, 4(1), 51-52. http://dx.doi.org/10.22373/jihbiz.v4i1.12430
  7. Effendi, I., & Hariani, P. R. S . (2020). Dampak Covid 19 terhadap bank syariah. Ekonomikawan: Jurnal Ilmu ekonomi dan Studi Pembangunan. 20(2), 221-230. https://doi.org/ 10.30596/ekonomikawan.v%vi%i.5553
  8. Hasan, N. F. (2022). Performance of Indonesian sharia rural bank during Covid-19 pandemic: A descriptive analysis, Velocity: Journal of Sharia Finance and Banking. 2(1), 25-33. https://doi.org/10.28918/velocity.v2i1.5192
  9. Kadir, R. D. (2019). Estimasi jangka pendek dan jangka panjang risiko pembiayaan BPR Syariah di Indonesia. Nisbah: Jurnal Perbankan Syariah, 5(2), 100–105. https://doi.org/10.30997/jn.v5i2.2166
  10. Maghfiroh, R. N. (2021). Analisis dampak covid-19 terhadap kinerja keuangan bank di Indonesia. Thesis, State University of Islam Maulana Malik Ibrahim. http://etheses.uin-malang.ac.id/29093/1/17540025.pdf
  11. Morakinyo, A., Muller, C. & Sibanda, M. (2018). Non-performing loans, banking system and macroeconomy. Studia Universitatis Babes-Bolyai Oeconomica, 63(2) 67-86. https://doi.org/10.2478/subboec-2018-0009
  12. Nabila, S., Buchari, N. S., & Suprapto, E. (2022). Analysis on the soundness level of shariah commercial banks using RGEC during the Covid-19. Jurnal Ekonomi dan Perbankan Syariah, 10(1), 66-85. https://doi.org/10.46899/jeps.v10i1.316
  13. Otoritas Jasa Keuangan. (2020). Peraturan Otoritas Jasa Keuangan Nomor 11/POJK.03/2020 yang diubah lebih lanjut melalui POJK Nomor 48/POJK.03/2020 tentang stimulus perekonomian nasional sebagai kebijakan countercyclical dampak penyebaran coronavirus disease 2019. https://www.ojk.go.id/id/berita-dan-kegiatan/siaran-pers/Pages/Siaran-Pers-OJK-Keluarkan-Peraturan-Perpanjangan-Kebijakan-Stimulus-Covid-19.aspx
  14. Otoritas Jasa Keuangan. (2019). Surat Edaran Otoritas Jasa Keuangan nomor 28/SEOJK.03/2019 tentang sistem penilaian tingkat kesehatan bank perkreditan rakyat syariah. https://ojk.go.id/id/regulasi/Pages/-Sistem-Penilaian-Tingkat-Kesehatan-Bank-Pembiayaan-Rakyat-Syariah.aspx
  15. Pravasanti, Y. A (2018). Pengaruh NPF dan FDR terhadap CAR dan dampaknya terhadap ROA pada Perbankan Syariah di Indonesia. Jurnal Ilmiah Ekonomi Islam, 4(3), 156. http://dx.doi.org/10.29040/jiei.v4i03.302
  16. Rachmad, M. H. F., & Fitria, S. (2021). Analisis perbandingan kinerja bank pembiayaan rakyat syariah (BPRS) sebelum dan selama pandemi Covid- 19. Undergraduate thesis, Universitas Diponegoro. https://repofeb.undip.ac.id/9940/
  17. Rehman, O. U. (2017). Determinants of non-performing loan in South Asia: The role of financial crisis. Eurasian Journal of Business and Economics, 10(20), 105-124. https://doi.org/10.17015/ejbe.2017.020.07.
  18. Rolianah, W. S., Miftahurrahman, M., & Sari, D. P. (2021). Analisis rasio keuangan bank pembiayaan rakyat syariah sebelum dan selama pandemi Covid-19. Iqtishaduna, 12(2), 136–149. https://doi.org/10.20414/iqtishaduna.v12i2.3457
  19. Sriyana, J., (2020). Metode Regresi Dinamik, Ekonesia, Yogyakarta.
  20. Sudarsono, H. (2017). Modelling respon rasio keuangan terhadap pembiayaan pada bank syariah di Indonesia, Jurnal Ekonomi Syariah Indonesia, 7(1), 1-13. http://dx.doi.org/10.21927/jesi.2017.7(1).1-13
  21. Widarjono, A. (2013). Pengantar ekonometrika dan aplikasinya dengan panduan untuk Eviews (ed. ke-4). UPP STIM YKPN.
  22. Zuhroh, I., Kusuma, H., & Kurniawati, S. (2017). An approach of vector autoregression model for inflation analysis in Indonesia. Ventura: Journal of Economics, Business, & Accountancy, 20(3), 261-268. http://dx.doi.org/10.14414/jebav.v20i3.1019

Most read articles by the same author(s)