Scholarly Success as Three Leading Islamic Economics Papers Chosen for Bank Indonesia's Top Journal

The UIII Faculty of Economics and Business (FEB UIII) has marked a significant achievement as three research papers from UIII academics have been selected for publication in the Journal of Islamic Monetary Economics and Finance (JIMF), a highly regarded, Scopus-indexed journal published by the Bank Indonesia Institute. 

The selection for the Call Papers was conducted before the 10th International Islamic Monetary Economics and Finance Conference (IIMEFC) 2024, held at the Fairmont Hotel in Jakarta on August 2-3, 2024. 

The Call Papers from JIMF, known for its rigorous selection process, saw over 300 submissions from 34 countries. In a competitive field where nearly half of the submissions came from international authors, the selection of three UIII papers highlights the university’s growing reputation for academic excellence and its contribution to the discourse on Islamic economics and finance.

Showcasing UIII's Academic Excellence

The first paper, titled "The Determinants of Faith-Based Nonprofit Organizations' Financial Performance Resilient During Economic Shock: An Indonesia Case Study," was authored by M. Luthfi Hamidi (UIII), Ishaq Bhatti (La Trobe University), Gunaro Setiawan (Griffith University), and Muhamad Nagib Alatas (UIII). This study offers valuable insights into how faith-based nonprofit organizations in Indonesia navigate financial challenges during economic downturns, an area of increasing relevance in today’s volatile global economy.

The second paper, "Analyzing the Challenges and Alternative Solutions for Musharakah: Understanding Natural Contract Consequences," co-authored by Muhamad Nagib Alatas (UIII), M. Luthfi Hamidi (UIII), and Dian Masyita (UIII) explores the complexities of Musharakah—a key Islamic finance contract—and proposes innovative solutions to enhance its implementation. This research addresses critical issues that impact the efficacy and adoption of Musharakah in Islamic finance.

The third paper, "Islamic Bank Financing and Sustainable Green Growth," authored by Abubakar Jamilu Baita (UIII), Dian Masyita (UIII), and Rizky Wisnoentoro (UIII), examines the intersection of Islamic banking and sustainable development. The study advocates for the integration of green growth principles into Islamic finance, aligning economic activities with environmental sustainability—a topic of immense importance in the global financial sector.

Recognition and Future Impact

These three papers, soon to be published in JIMF, represent a significant accomplishment for UIII, further establishing the university as a leading institution in the field of Islamic economics and finance. Since 2023, JIMF has achieved a Q2 ranking, with 59% percentile and is indexed in Scopus. In 2024, its reputation continued to improve, demonstrated by its achievement as the top Scopus-ranked journal in Indonesia and the second-ranked journal in the Asia-Pacific region in the Islamic Economics and Finance category. Additionally, JIMF has been nationally accredited at the highest level, Sinta-1, by the Science and Technology Index (Sinta).

As UIII’s academics continue to contribute to high-impact research, their work not only advances academic discourse but also supports the broader goals of innovation and ethical finance in the Muslim world. The university’s success at the IIMEFC 2024 is a testament to its commitment to fostering a vibrant academic community and promoting research that bridges tradition with modern economic challenges.

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