Indonesian Journal of Islamic Economics and Finance

Policy Strategy for Resolving the Post Pandemi Covid-19 Economic Crisis in Sri Lanka

Toshiwa Wijaretne — 2023-05-19

This study provides an overview of the condition of the declining economy faced by cleavage world with exists plague pandemic Covid-19 as well as shape policies taken by Sri Lanka in responding to the threat of the economic crisis in future. It can be concluded that the existence of the Covid-19 pandemic has had an impact which is quite large and influential throughout the world. A number of sector affected industry even went bankrupt. With there policies taken by some countries to disconnect the spread of this virus is like barring out entry of foreign nationals into a country, self-quarantine or regional quarantine or restrictions on individual activities that have various impacts sector like sector tourism, economy etc. Individual activity restrictions and the economy has an impact for sectors such as decreased income, decreased purchasing power up to massive increase in layoffs and rising unemployment. This condition if no handled with good and serious in period long worried could raises the threat of a prolonged economic crisis, this will disrupt stability country. Policy fiscal nor monetary is effort which conducted in framework recovery economy national or could prevent happening crisis monetary which deep. The conclusion from this research is that the economy will recover in 2023 after the pandemic COVID-19 needs attention and must be resolved seriously and thoroughly with exists virus this could causing crisis in period long in field economy as well as health.

The Impact of The Zimbabwe Government's Fiscal Policy on The Destruction of The Country's Economy

Tonderai Kudzai — 2023-06-01

This political economy study in international relations explains the impact of the government's fiscal policy on foreign loans to the IMF in 2020. The fiscal policy carried out by the Robert Mugabe government has negatively impacted Zimbabwe's economy. The land reform policy was carried out to forcibly take land belonging to white farmers and give it to supporters of Robert Mugabe's political party. The land reform policy reduced economic growth and experienced hyperinflation, and as a result, the IMF suspended aid for Zimbabwe's foreign loans. This study aims to explain the impact of land reform policies on IMF foreign loans in 2020 and describe their impact on the Zimbabwean economy. The object of this research is land reform policies in Zimbabwe. This qualitative research uses descriptive methods and collects data from books, journals, official publications, and relevant websites. This paper uses a behavioralist perspective and the theory of international economic cooperation by Anne Kruenger, Deepak Lal. The results showed that hyperinflation in Zimbabwe was terrible for society, and the IMF decided to make economic aid to Zimbabwe worse.

Russian-Ukraine 2022 War: A Review of The Economic Impact of The Russian-Ukraine Crisis on The Several Developing Countries

Alexei Svetlana Pavel — 2023-06-01

The war between Russia and Ukraine is one of the international tragedies that burden many countries today—affected countries incident war, Of course in Europe. Supply energy in Europe is almost half more originates from Russia, so war makes the area of Europe and around No stable. Another problem is war. It also involves many countries, not only Russia and Ukraine, directly. War Russia opposes Ukraine has caused enhanced consumption of energy and food on the ground in Europe. The rupture crisis economy causes enough inflation high in several countries. Therefore appearance challenges the economy in modern times. Peace and stability in the world economy should be maintained, now ravaged by war. War raises Lots of dire consequences for the world community. Among other things, the raw material price rose sharply and changed the global energy trading system. Plus, with the increased price of energy and items, attacks Russia to Ukraine, the supplier country food. As a result, food shortages threaten and influence hunger in the global community. Wartime has influenced many countries, such as increasing food and fertilizer prices. In condition this kind is necessary, there is an action real from the United Nations to complete the organization's most extensive international at this time. Due to the war between Russia and Ukraine in 2022, a crisis economy happened, plus there is Covid 19. Several impacts price of commodity oil and gas rebound high, a threat to food, and stock market shocks.

The Conception of Sharia Fintech Lending and Its Regulatory Preparedness in Indonesia

Suad Fikriawan — 2023-06-08

This study aims to describe the concept of Sharia Fintech Lending and its regulatory readiness in Indonesia. Along with the development of technology and online lending issues that are troubling the public, sharia fintech lending grows and develops. However, the challenges of online lending make this industry little known to the public, so its development tends to be slow. In quantitative terms, this industry is not as much as conventional fintech. Therefore the government (OJK) initiated regulations for this industry supported by the DSN MUI Fatwa. However, after it was implemented, it turned out that there were many obstacles that hindered the growth of sharia fintech lending. Based on the research findings, OJK needs to review this regulation to make it more flexible and support the development of Islamic banking fintech more rapidly

The Strength of Islamic Bank in Nigeria Facing the Economic Crisis

Nkechi Zuri — 2023-06-08

Time is ticking and times of economic crisis will continue to recur with various causes that may be different and require different solutions to problems. In Nigeria, there was an economic crisis to a food crisis, this was also triggered by the Covid-19 Pandemic, this crisis began to be felt in 2020. The research method used in this research is to use descriptive qualitative analysis. No one expects an economic crisis anywhere and anytime. Nigeria is known as a country prone to racial and religious conflicts. In 2020, the capital city of Borno state often faced conflicts between civilians. Deputy head of the UN Office for the Coordination of Humanitarian Affairs (OCHA) Nigeria, Esty Sutyoko, said Nigerians have lost their livelihoods for more than a decade. This was triggered by violence and the Covid-19 pandemic as well as food insecurity in the region. The Covid-19 pandemic began with reports of cases of pneumonia (pneumonia) with unknown causes in Wuhan, China at the end of December 2019. But on the other hand, Islamic banking has again proven that the system used is really resistant to crises, not just theory and coincidence because it has been proven three times through economic crises and the power of Islamic banking is very strong to beat conventional banking.