Article Sidebar
Main Article Content
Abstract
Introduction
Islamic banking has become an integral part of the global financial system, particularly in the Persian Gulf region. Due to its reliance on profit-sharing and non-interest-based operations, Islamic banking faces unique challenges in maintaining stability, particularly when financing problems arise.
Objectives
This study analyzes the effect of Non-Performing Financing (NPF), operational efficiency, and input-output optimization on the stability of Islamic banks in the Persian Gulf countries.
Method
This study employs a quantitative approach using panel data regression models, specifically the random effects model (REM), to analyze data from 27 Islamic banks in eight Persian Gulf countries. The study includes classical assumption tests, such as normality, multicollinearity, and heteroscedasticity, followed by hypothesis testing using t-tests and F-tests.
Results
The results indicate that both NPF and efficiency have significant negative impacts on the stability of Islamic banks. The t-test reveals that NPF has a probability value of 0.0447 and a negative coefficient, suggesting that higher NPF levels reduce bank stability. Similarly, operational efficiency, as measured by the input and output variables, also shows a negative influence on stability, with a probability value of 0.0435. The F-test confirms that NPF, input, and output significantly affect Islamic bank stability, with an F-statistic probability value of 0.038223.
Implications
These findings have important implications for the management of Islamic banks in the Persian Gulf countries. Effective management of NPF is critical for maintaining stability, and operational improvements in efficiency can also enhance financial performance. Islamic banks should focus on improving their financing practices, including better monitoring problematic loans and diversifying revenue streams to reduce reliance on financing income.
Originality/Novelty
This study contributes to the understanding of Islamic bank stability by exploring the combined effects of Non-Performing Financing (NPF) and operational efficiency on bank financial health. By focusing on Islamic banks in the Persian Gulf countries, this study highlights region-specific challenges and offers strategies for mitigating financial risks and enhancing bank resilience through better management of NPF and operational efficiency.
Keywords
Article Details
Copyright (c) 2024 Lathifah Zaina Salsabilla, Tiara Juliana Jaya
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:
- 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 acknowledgement of the work's authorship and initial publication in this journal.
- 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 acknowledgement of its initial publication in this journal.
- 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).
References
Anggraini, D., & Kusufiyah, Y. V. (2020). Dampak profitabilitas, leverage dan biaya operasional terhadap pajak penghasilan badan: Studi empiris pada perusahaan food and beverage yang terdaftar di Bursa Efek Indonesia [The impact of profitability, leverage and operating costs on corporate income tax: An empirical study on food and beverage companies listed on the Indonesia Stock Exchange]. Jurnal Ekonomi Dan Bisnis Dharma Andalas, 22(1), 32–47. https://jurnal.unidha.ac.id/index.php/JEBD/article/view/76
Ardichy, M. F., & Rahayu, Y. S. (2022). Pengaruh rasio keuangan terhadap profitabilitas pada bank umum syariah di Indonesia periode 2017-2021 [The influence of financial ratios on profitability in Islamic commercial banks in Indonesia for the period 2017-2021]. Owner, 6(3), 1432–1445. https://doi.org/10.33395/owner.v6i3.924
Budi L. P., G., Kusnendi, K., & Utami, S. A. (2020). The influence of inflation, exchange rates, CAR and NPF to stability of Islamic banks in Indonesia period 2015-2019. IQTISHODUNA: Jurnal Ekonomi Islam, 9(1), 29–54. https://doi.org/10.36835/iqtishoduna.v9i1.468
Daradkah, D., & Al-Sayyah, M. (2020). The effect of financing and non-financing income on Islamic banks’ risk: Evidence from Gulf Cooperation Council countries. International Journal of Economics and Business Administration, 8(1), 180–192. https://doi.org/10.35808/ijeba/417
El Islami, M. F., & Jaya, T. J. (2022). Effect of inflation rate, non performing financing (NPF), and number of branch offices on murabahah financing at Bank Muamalat Indonesia. Al Iqtishadiyah Jurnal Ekonomi Syariah Dan Hukum Ekonomi Syariah, 8(1), 21–37. https://doi.org/10.31602/iqt.v8i1.6876
Fathonah, A. S., & Hermawan, D. (2020). Estimasi pengaruh faktor internal bank dan stabilitas makroekonomi terhadap profitabilitas dengan mediasi rasio pembiayaan bermasalah di PT Bank Muamalat Indonesia [Estimation of the influence of internal bank factors and macroeconomic stability on profitability with the mediation of the ratio of default financing at PT Bank Muamalat Indonesia]. Jurnal Maps (Manajemen Perbankan Syariah), 3(2), 93–108. https://doi.org/10.32627/maps.v3i2.134
Fatoni, A. (2022). Pengaruh ketidakpastian ekonomi terhadap stabilitas perbankan syariah di Indonesia [The impact of economic uncertainty on the stability of Islamic banking in Indonesia]. Jurnal Ilmiah Ekonomi Islam, 8(3), 2903–2909. https://doi.org/10.29040/jiei.v8i3.5385
Fatoni, A., & Sidiq, S. (2019). Analisis perbandingan stabilitas sistem perbankan syariah dan konvensional di Indonesia [Comparative analysis of the stability of the Islamic and conventional banking systems in Indonesia]. Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan Dan Akuntansi, 11(2), 179–198. https://doi.org/10.35313/ekspansi.v11i2.1350
Fitri, S. D., & Sriyana, J. (2023). Analisis faktor-faktor yang memengaruhi tingkat non-performing financing (NPF) di bank umum syariah Indonesia periode 2015-2021 [Analysis of factors influencing the level of non-performing financing in Indonesian Islamic commercial banks for the period 2015-2021]. Jurnal Informatika Ekonomi Bisnis, 5(1), 232–239. https://doi.org/10.37034/infeb.v5i1.240
Harahap, B., & Prima, A. P. (2019). Pengaruh biaya bahan baku, biaya tenaga kerja langsung dan factory overhead cost terhadap peningkatan hasil produksi pada perusahaan kecil industri tahu tempe di Kota Batam [The influence of raw material costs, direct labor costs and factory overhead costs on increasing production results in small tofu and tempeh industry companies in Batam City]. Jurnal Akuntansi Barelang, 4(1), 12–20. https://doi.org/10.33884/jab.v4i1.1476
Hasanatina, F. H., Budiantoro, R. A., & Oktavia, V. (2021). Perbandingan efisiensi pada industri asuransi jiwa syariah dan konvensional dengan Data Envelopment Analysis (DEA) [Comparison of efficiency in the sharia and conventional life insurance industry using Data Envelopment Analysis (DEA)]. EKUITAS (Jurnal Ekonomi Dan Keuangan), 4(4), 503–521. https://doi.org/10.24034/j25485024.y2020.v4.i4.4004
Hassan, M. K., & Aliyu, S. (2018). A contemporary survey of Islamic banking literature. Journal of Financial Stability, 34, 12–43. https://doi.org/10.1016/j.jfs.2017.11.006
Ikhsan, R. (2023). Analisis faktor-faktor yang mempengaruhi non performing financing (NPF) pada bank syariah di Indonesia [Analysis of factors influencing non-performing financing (NPF) in Islamic banks in Indonesia]. Jurnal Locus Penelitian Dan Pengabdian, 2(2), 135–144. https://doi.org/10.58344/locus.v2i2.865
Islamic Financial Services Board. (2024a). Data & metadata. Islamic Financial Services Board. https://www.ifsb.org/data-metadata/
Islamic Financial Services Board. (2024b). Islamic Financial Services Industry Stability Report. Islamic Financial Services Board. https://www.ifsb.org/wp-content/uploads/2024/09/IFSB-Stability-Report-2024-8.pdf
Karima, N. K., Astary, J., Mamuji, M., Zamali, I., & Munir, M. (2024). Faktor yang mempengaruhi non performing financing perbankan syariah di Indonesia [Factors affecting non-performing financing of Islamic banking in Indonesia]. Islamic Economics and Business Review, 3(1), 514–527. https://doi.org/10.59580/iesbir.v3i1.7025
Ketaren, E. V., & Haryanto, A. M. (2020). Pengaruh kinerja keuangan terhadap stabilitas perbankan yang terdaftar di Bursa Efek Indonesia (Studi kasus pada bank yang terdaftar di BEI tahun 2014-2018) [The influence of financial performance on the stability of banks listed on the Indonesia Stock Exchange (Case study on banks listed on the IDX in 2014-2018)]. Diponegoro Journal of Management, 9(2), 1–13. https://ejournal3.undip.ac.id/index.php/djom/article/view/30304
Kuntadi, C., & Kristin, F. J. (2022). Faktor-faktor kecurangan laporan keuangan: Stabilitas keuangan, kondisi industri, dan tekanan eksternal [Factors of financial reporting fraud: Financial stability, industry conditions, and external pressures]. SENTRI: Jurnal Riset Ilmiah, 1(4), 898–906. https://doi.org/10.55681/sentri.v1i4.305
Kusumastuti, W. I., & Alam, A. (2019). Analysis of impact of CAR, NPF, BOPO on profitability of Islamic banks (Year 2015-2017). Journal of Islamic Economic Laws, 2(1), 30–59. https://doi.org/10.23917/jisel.v2i1.6370
Lestari, D. R., & Suprayogi, N. (2020). Pengaruh faktor internal dan faktor makroekonomi terhadap stabilitas bank umum syariah di Indonesia periode 2012-2018 [The influence of internal factors and macroeconomic factors on the stability of Islamic commercial banks in Indonesia for the period 2012-2018]. Jurnal Ekonomi Syariah Teori Dan Terapan, 7(11), 2062–2073. https://doi.org/10.20473/vol7iss202011pp2062-2073
Marsondang, A., Purwanto, B., & Mulyati, H. (2020). Pengukuran efisiensi serta analisis faktor internal dan eksternal bank yang memengaruhinya [Efficiency measurement and analysis of internal and external factors that influence the bank]. Jurnal Manajemen Dan Organisasi, 10(1), 48–62. https://doi.org/10.29244/jmo.v10i1.28860
Minarni, Abidin, M., & Ekowati, V. M. (2023). The influence of financial performance on profitability of sharia commercial banks in Indonesia using the CAMEL method. Journal of Islamic Economics Lariba, 9(2), 329–352. https://doi.org/10.20885/jielariba.vol9.iss2.art4
Mokodenseho, S., Thomas, F., Abraham, I., Birah, I. F., & Mokodompit, A. T. (2024). History and development of Sharia banking in Indonesia. An-Nubuwwah: Journal of Islamic Studies, 3(1), 130–151. https://journal.iaimkotamobagu.ac.id/index.php/annubuwwah/article/view/52
Muarif, H., Ibrahim, A., & Amri, A. (2021). Likuiditas, kecukupan modal, pembiayaan bermasalah dan pengaruhnya terhadap profitabilitas bank umum syariah di Indonesia periode 2016-2018 [Liquidity, capital adequacy, non-performing financing and their influence on the profitability of Islamic commercial banks in Indonesia for the period 2016-2018]. Jihbiz: Global Journal of Islamic Banking and Finance., 3(1), 36. https://doi.org/10.22373/jihbiz.v3i1.9631
Musyafah, A. A. (2019). Perkembangan perekonomian Islam di beberapa negara di dunia [The development of Islamic economics in several countries in the world]. Diponegoro Private Law Review, 4(1), 419–427. https://ejournal2.undip.ac.id/index.php/dplr/article/view/5103
Najib, M. I. A., & Iskandar, D. D. (2022). Efficiency analysis of Sharia commercial banks (BUS) in Indonesia during 2015 – 2019. Journal of Islamic Economics Lariba, 8(1), 33–51. https://doi.org/10.20885/jielariba.vol8.iss1.art3
Nugroho, L., & Anisa, N. (2018). Pengaruh manajemen bank induk, kualitas aset, dan efisiensi terhadap stabilitas bank syariah di Indonesia (periode tahun 2013-2017) [The influence of parent bank management, asset quality, and efficiency on the stability of Islamic banks in Indonesia (2013-2017)]. Inovbiz: Jurnal Inovasi Bisnis, 6(2), 114–122. https://doi.org/10.35314/inovbiz.v6i2.833
Qurotulaeni, Q., & Wirman, W. (2021). Pengaruh FDR dan NPF terhadap profitabilitas bank umum syariah di Indonesia (Studi pada bank umum syariah yang terdaftar di Otoritas Jasa Keuangan periode 2012-2019) [The influence of financing to deposit ratio and non-performing financing on the profitability of Islamic commercial banks in Indonesia (Study on Islamic commercial banks registered with the Financial Services Authority for the period 2012-2019)]. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 6(3), 586–602. https://doi.org/10.30651/jms.v6i3.7173
Raharjo, R. O. (2018). Perkembangan dan tantangan bank syariah di Timur Tengah [The development and challenges of Islamic banking in the Middle East]. An-Nisbah: Jurnal Ekonomi Syariah, 5(1), 216–235. https://doi.org/10.21274/an.2018.5.1.216-235
Rambe, L. A. (2021). Perkembangan perbankan syariah di Timur Tengah dan Pakistan [The development of Islamic banking in the Middle East and Pakistan]. Az-Zarqa’: Jurnal Hukum Bisnis Islam, 13(1), 33–58. https://doi.org/10.14421/azzarqa.v13i1.2245
Retnasih, N. R. (2023). Exploring the dynamic nexus between Indonesian economic forces and Islamic banking financial performance. Journal of Islamic Economics and Finance Studies, 4(2), 236–256. https://doi.org/10.47700/jiefes.v4i2.6581
Riauwanto, S., & Sulastiningsih, S. (2019). Pengaruh total aset dan bagi hasil perbankan terhadap volume dana pihak ketiga (DPK) pada bank umum syariah [The influence of total assets and banking profit sharing on the volume of third party funds in Islamic commercial banks]. Jurnal Riset Manajemen Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha Program Magister Manajemen, 6(2), 131–146. https://doi.org/10.32477/jrm.v6i2.354
Rusydiana, A. S., Laila, N., & Sudana, S. (2019). Efisiensi dan produktivitas industri perbankan pada sistem moneter ganda di Indonesia [Efficiency and productivity of the banking industry in the dual monetary system in Indonesia]. Jurnal Siasat Bisnis, 23(1), 50–66. https://doi.org/10.20885/jsb.vol23.iss1.art5
Saputri, P. L., & Ahmadi, H. (2022). Financing distribution and its effect on non-performing financing of Islamic banks. Jurnal Alwatzikhoebillah : Kajian Islam, Pendidikan, Ekonomi, Humaniora, 8(2), 96–106. https://doi.org/10.37567/alwatzikhoebillah.v8i2.1472
Sholihah, E. (2021). Efisiensi kinerja keuangan sektor perbankan Indonesia di masa pandemi Covid-19 [Efficiency of financial performance of the Indonesian banking sector during the Covid-19 pandemic]. JRMSI - Jurnal Riset Manajemen Sains Indonesia, 12(2), 287–304. https://doi.org/10.21009/JRMSI.012.2.06
Siyamto, Y. (2023). Economic policy uncertainty; impact on financing risk and total financing of Islamic banks. International Journal of Economics, Business and Accounting Research (IJEBAR), 7(2), 732–742. https://doi.org/10.29040/ijebar.v7i2.9278
Tamimah, T. (2020). Faktor yang mempengaruhi profitabilitas perbankan syariah di Indonesia [Factors influencing the profitability of Islamic banking in Indonesia]. Jurnal Syarikah: Jurnal Ekonomi Islam, 6(1), 104–113. https://doi.org/10.30997/jsei.v6i1.2175
Tétreault, M. A., Okruhlik, G., & Kapiszewski, A. (Eds.). (2011). Political change in the Arab Gulf states: Stuck in transition. Lynne Rienner Publishers. https://doi.org/10.1515/9781588269942
Windarsari, W. R. & Zainuddin S. (2020). Analisis kausalitas stabilitas perekonomian terhadap pengembangan bank syariah menggunakan pendekatan vector error correction model [Causality analysis of economic stability towards the development of Islamic banks using the vector error correction model approach]. Al-Kharaj: Journal of Islamic Economic and Business, 2(1), 1–15. https://doi.org/10.24256/kharaj.v2i1.1265
Yulianti, M. L., Pakata, R., & Fitriyadi S., N. (2023). The impact of liquidity risk optimization on stability. Jurnal Ekonomi, 12(1), 630–639. https://ejournal.seaninstitute.or.id/index.php/Ekonomi/article/view/1243
Yurida, Siregar, S., & Harahap, R. D. (2023). Pengaruh liquidity risk dan credit risk terhadap stabilitas bank dengan operational efficiency sebagai variabel intervening pada bank umum syariah di Indonesia [The influence of liquidity risk and credit risk on bank stability with operational efficiency as an intervening variable in Islamic commercial banks in Indonesia]. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 8(3), 602–634. https://doi.org/10.30651/jms.v8i3.20787
References
Anggraini, D., & Kusufiyah, Y. V. (2020). Dampak profitabilitas, leverage dan biaya operasional terhadap pajak penghasilan badan: Studi empiris pada perusahaan food and beverage yang terdaftar di Bursa Efek Indonesia [The impact of profitability, leverage and operating costs on corporate income tax: An empirical study on food and beverage companies listed on the Indonesia Stock Exchange]. Jurnal Ekonomi Dan Bisnis Dharma Andalas, 22(1), 32–47. https://jurnal.unidha.ac.id/index.php/JEBD/article/view/76
Ardichy, M. F., & Rahayu, Y. S. (2022). Pengaruh rasio keuangan terhadap profitabilitas pada bank umum syariah di Indonesia periode 2017-2021 [The influence of financial ratios on profitability in Islamic commercial banks in Indonesia for the period 2017-2021]. Owner, 6(3), 1432–1445. https://doi.org/10.33395/owner.v6i3.924
Budi L. P., G., Kusnendi, K., & Utami, S. A. (2020). The influence of inflation, exchange rates, CAR and NPF to stability of Islamic banks in Indonesia period 2015-2019. IQTISHODUNA: Jurnal Ekonomi Islam, 9(1), 29–54. https://doi.org/10.36835/iqtishoduna.v9i1.468
Daradkah, D., & Al-Sayyah, M. (2020). The effect of financing and non-financing income on Islamic banks’ risk: Evidence from Gulf Cooperation Council countries. International Journal of Economics and Business Administration, 8(1), 180–192. https://doi.org/10.35808/ijeba/417
El Islami, M. F., & Jaya, T. J. (2022). Effect of inflation rate, non performing financing (NPF), and number of branch offices on murabahah financing at Bank Muamalat Indonesia. Al Iqtishadiyah Jurnal Ekonomi Syariah Dan Hukum Ekonomi Syariah, 8(1), 21–37. https://doi.org/10.31602/iqt.v8i1.6876
Fathonah, A. S., & Hermawan, D. (2020). Estimasi pengaruh faktor internal bank dan stabilitas makroekonomi terhadap profitabilitas dengan mediasi rasio pembiayaan bermasalah di PT Bank Muamalat Indonesia [Estimation of the influence of internal bank factors and macroeconomic stability on profitability with the mediation of the ratio of default financing at PT Bank Muamalat Indonesia]. Jurnal Maps (Manajemen Perbankan Syariah), 3(2), 93–108. https://doi.org/10.32627/maps.v3i2.134
Fatoni, A. (2022). Pengaruh ketidakpastian ekonomi terhadap stabilitas perbankan syariah di Indonesia [The impact of economic uncertainty on the stability of Islamic banking in Indonesia]. Jurnal Ilmiah Ekonomi Islam, 8(3), 2903–2909. https://doi.org/10.29040/jiei.v8i3.5385
Fatoni, A., & Sidiq, S. (2019). Analisis perbandingan stabilitas sistem perbankan syariah dan konvensional di Indonesia [Comparative analysis of the stability of the Islamic and conventional banking systems in Indonesia]. Ekspansi: Jurnal Ekonomi, Keuangan, Perbankan Dan Akuntansi, 11(2), 179–198. https://doi.org/10.35313/ekspansi.v11i2.1350
Fitri, S. D., & Sriyana, J. (2023). Analisis faktor-faktor yang memengaruhi tingkat non-performing financing (NPF) di bank umum syariah Indonesia periode 2015-2021 [Analysis of factors influencing the level of non-performing financing in Indonesian Islamic commercial banks for the period 2015-2021]. Jurnal Informatika Ekonomi Bisnis, 5(1), 232–239. https://doi.org/10.37034/infeb.v5i1.240
Harahap, B., & Prima, A. P. (2019). Pengaruh biaya bahan baku, biaya tenaga kerja langsung dan factory overhead cost terhadap peningkatan hasil produksi pada perusahaan kecil industri tahu tempe di Kota Batam [The influence of raw material costs, direct labor costs and factory overhead costs on increasing production results in small tofu and tempeh industry companies in Batam City]. Jurnal Akuntansi Barelang, 4(1), 12–20. https://doi.org/10.33884/jab.v4i1.1476
Hasanatina, F. H., Budiantoro, R. A., & Oktavia, V. (2021). Perbandingan efisiensi pada industri asuransi jiwa syariah dan konvensional dengan Data Envelopment Analysis (DEA) [Comparison of efficiency in the sharia and conventional life insurance industry using Data Envelopment Analysis (DEA)]. EKUITAS (Jurnal Ekonomi Dan Keuangan), 4(4), 503–521. https://doi.org/10.24034/j25485024.y2020.v4.i4.4004
Hassan, M. K., & Aliyu, S. (2018). A contemporary survey of Islamic banking literature. Journal of Financial Stability, 34, 12–43. https://doi.org/10.1016/j.jfs.2017.11.006
Ikhsan, R. (2023). Analisis faktor-faktor yang mempengaruhi non performing financing (NPF) pada bank syariah di Indonesia [Analysis of factors influencing non-performing financing (NPF) in Islamic banks in Indonesia]. Jurnal Locus Penelitian Dan Pengabdian, 2(2), 135–144. https://doi.org/10.58344/locus.v2i2.865
Islamic Financial Services Board. (2024a). Data & metadata. Islamic Financial Services Board. https://www.ifsb.org/data-metadata/
Islamic Financial Services Board. (2024b). Islamic Financial Services Industry Stability Report. Islamic Financial Services Board. https://www.ifsb.org/wp-content/uploads/2024/09/IFSB-Stability-Report-2024-8.pdf
Karima, N. K., Astary, J., Mamuji, M., Zamali, I., & Munir, M. (2024). Faktor yang mempengaruhi non performing financing perbankan syariah di Indonesia [Factors affecting non-performing financing of Islamic banking in Indonesia]. Islamic Economics and Business Review, 3(1), 514–527. https://doi.org/10.59580/iesbir.v3i1.7025
Ketaren, E. V., & Haryanto, A. M. (2020). Pengaruh kinerja keuangan terhadap stabilitas perbankan yang terdaftar di Bursa Efek Indonesia (Studi kasus pada bank yang terdaftar di BEI tahun 2014-2018) [The influence of financial performance on the stability of banks listed on the Indonesia Stock Exchange (Case study on banks listed on the IDX in 2014-2018)]. Diponegoro Journal of Management, 9(2), 1–13. https://ejournal3.undip.ac.id/index.php/djom/article/view/30304
Kuntadi, C., & Kristin, F. J. (2022). Faktor-faktor kecurangan laporan keuangan: Stabilitas keuangan, kondisi industri, dan tekanan eksternal [Factors of financial reporting fraud: Financial stability, industry conditions, and external pressures]. SENTRI: Jurnal Riset Ilmiah, 1(4), 898–906. https://doi.org/10.55681/sentri.v1i4.305
Kusumastuti, W. I., & Alam, A. (2019). Analysis of impact of CAR, NPF, BOPO on profitability of Islamic banks (Year 2015-2017). Journal of Islamic Economic Laws, 2(1), 30–59. https://doi.org/10.23917/jisel.v2i1.6370
Lestari, D. R., & Suprayogi, N. (2020). Pengaruh faktor internal dan faktor makroekonomi terhadap stabilitas bank umum syariah di Indonesia periode 2012-2018 [The influence of internal factors and macroeconomic factors on the stability of Islamic commercial banks in Indonesia for the period 2012-2018]. Jurnal Ekonomi Syariah Teori Dan Terapan, 7(11), 2062–2073. https://doi.org/10.20473/vol7iss202011pp2062-2073
Marsondang, A., Purwanto, B., & Mulyati, H. (2020). Pengukuran efisiensi serta analisis faktor internal dan eksternal bank yang memengaruhinya [Efficiency measurement and analysis of internal and external factors that influence the bank]. Jurnal Manajemen Dan Organisasi, 10(1), 48–62. https://doi.org/10.29244/jmo.v10i1.28860
Minarni, Abidin, M., & Ekowati, V. M. (2023). The influence of financial performance on profitability of sharia commercial banks in Indonesia using the CAMEL method. Journal of Islamic Economics Lariba, 9(2), 329–352. https://doi.org/10.20885/jielariba.vol9.iss2.art4
Mokodenseho, S., Thomas, F., Abraham, I., Birah, I. F., & Mokodompit, A. T. (2024). History and development of Sharia banking in Indonesia. An-Nubuwwah: Journal of Islamic Studies, 3(1), 130–151. https://journal.iaimkotamobagu.ac.id/index.php/annubuwwah/article/view/52
Muarif, H., Ibrahim, A., & Amri, A. (2021). Likuiditas, kecukupan modal, pembiayaan bermasalah dan pengaruhnya terhadap profitabilitas bank umum syariah di Indonesia periode 2016-2018 [Liquidity, capital adequacy, non-performing financing and their influence on the profitability of Islamic commercial banks in Indonesia for the period 2016-2018]. Jihbiz: Global Journal of Islamic Banking and Finance., 3(1), 36. https://doi.org/10.22373/jihbiz.v3i1.9631
Musyafah, A. A. (2019). Perkembangan perekonomian Islam di beberapa negara di dunia [The development of Islamic economics in several countries in the world]. Diponegoro Private Law Review, 4(1), 419–427. https://ejournal2.undip.ac.id/index.php/dplr/article/view/5103
Najib, M. I. A., & Iskandar, D. D. (2022). Efficiency analysis of Sharia commercial banks (BUS) in Indonesia during 2015 – 2019. Journal of Islamic Economics Lariba, 8(1), 33–51. https://doi.org/10.20885/jielariba.vol8.iss1.art3
Nugroho, L., & Anisa, N. (2018). Pengaruh manajemen bank induk, kualitas aset, dan efisiensi terhadap stabilitas bank syariah di Indonesia (periode tahun 2013-2017) [The influence of parent bank management, asset quality, and efficiency on the stability of Islamic banks in Indonesia (2013-2017)]. Inovbiz: Jurnal Inovasi Bisnis, 6(2), 114–122. https://doi.org/10.35314/inovbiz.v6i2.833
Qurotulaeni, Q., & Wirman, W. (2021). Pengaruh FDR dan NPF terhadap profitabilitas bank umum syariah di Indonesia (Studi pada bank umum syariah yang terdaftar di Otoritas Jasa Keuangan periode 2012-2019) [The influence of financing to deposit ratio and non-performing financing on the profitability of Islamic commercial banks in Indonesia (Study on Islamic commercial banks registered with the Financial Services Authority for the period 2012-2019)]. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 6(3), 586–602. https://doi.org/10.30651/jms.v6i3.7173
Raharjo, R. O. (2018). Perkembangan dan tantangan bank syariah di Timur Tengah [The development and challenges of Islamic banking in the Middle East]. An-Nisbah: Jurnal Ekonomi Syariah, 5(1), 216–235. https://doi.org/10.21274/an.2018.5.1.216-235
Rambe, L. A. (2021). Perkembangan perbankan syariah di Timur Tengah dan Pakistan [The development of Islamic banking in the Middle East and Pakistan]. Az-Zarqa’: Jurnal Hukum Bisnis Islam, 13(1), 33–58. https://doi.org/10.14421/azzarqa.v13i1.2245
Retnasih, N. R. (2023). Exploring the dynamic nexus between Indonesian economic forces and Islamic banking financial performance. Journal of Islamic Economics and Finance Studies, 4(2), 236–256. https://doi.org/10.47700/jiefes.v4i2.6581
Riauwanto, S., & Sulastiningsih, S. (2019). Pengaruh total aset dan bagi hasil perbankan terhadap volume dana pihak ketiga (DPK) pada bank umum syariah [The influence of total assets and banking profit sharing on the volume of third party funds in Islamic commercial banks]. Jurnal Riset Manajemen Sekolah Tinggi Ilmu Ekonomi Widya Wiwaha Program Magister Manajemen, 6(2), 131–146. https://doi.org/10.32477/jrm.v6i2.354
Rusydiana, A. S., Laila, N., & Sudana, S. (2019). Efisiensi dan produktivitas industri perbankan pada sistem moneter ganda di Indonesia [Efficiency and productivity of the banking industry in the dual monetary system in Indonesia]. Jurnal Siasat Bisnis, 23(1), 50–66. https://doi.org/10.20885/jsb.vol23.iss1.art5
Saputri, P. L., & Ahmadi, H. (2022). Financing distribution and its effect on non-performing financing of Islamic banks. Jurnal Alwatzikhoebillah : Kajian Islam, Pendidikan, Ekonomi, Humaniora, 8(2), 96–106. https://doi.org/10.37567/alwatzikhoebillah.v8i2.1472
Sholihah, E. (2021). Efisiensi kinerja keuangan sektor perbankan Indonesia di masa pandemi Covid-19 [Efficiency of financial performance of the Indonesian banking sector during the Covid-19 pandemic]. JRMSI - Jurnal Riset Manajemen Sains Indonesia, 12(2), 287–304. https://doi.org/10.21009/JRMSI.012.2.06
Siyamto, Y. (2023). Economic policy uncertainty; impact on financing risk and total financing of Islamic banks. International Journal of Economics, Business and Accounting Research (IJEBAR), 7(2), 732–742. https://doi.org/10.29040/ijebar.v7i2.9278
Tamimah, T. (2020). Faktor yang mempengaruhi profitabilitas perbankan syariah di Indonesia [Factors influencing the profitability of Islamic banking in Indonesia]. Jurnal Syarikah: Jurnal Ekonomi Islam, 6(1), 104–113. https://doi.org/10.30997/jsei.v6i1.2175
Tétreault, M. A., Okruhlik, G., & Kapiszewski, A. (Eds.). (2011). Political change in the Arab Gulf states: Stuck in transition. Lynne Rienner Publishers. https://doi.org/10.1515/9781588269942
Windarsari, W. R. & Zainuddin S. (2020). Analisis kausalitas stabilitas perekonomian terhadap pengembangan bank syariah menggunakan pendekatan vector error correction model [Causality analysis of economic stability towards the development of Islamic banks using the vector error correction model approach]. Al-Kharaj: Journal of Islamic Economic and Business, 2(1), 1–15. https://doi.org/10.24256/kharaj.v2i1.1265
Yulianti, M. L., Pakata, R., & Fitriyadi S., N. (2023). The impact of liquidity risk optimization on stability. Jurnal Ekonomi, 12(1), 630–639. https://ejournal.seaninstitute.or.id/index.php/Ekonomi/article/view/1243
Yurida, Siregar, S., & Harahap, R. D. (2023). Pengaruh liquidity risk dan credit risk terhadap stabilitas bank dengan operational efficiency sebagai variabel intervening pada bank umum syariah di Indonesia [The influence of liquidity risk and credit risk on bank stability with operational efficiency as an intervening variable in Islamic commercial banks in Indonesia]. Jurnal Masharif Al-Syariah: Jurnal Ekonomi Dan Perbankan Syariah, 8(3), 602–634. https://doi.org/10.30651/jms.v8i3.20787