Al-Amwal : Jurnal Ekonomi dan Perbankan Syari'ah
About the Journal Journal Title : Al-Amwal: Jurnal Ekonomi dan Perbankan Syariah ISSN : P-ISSN 2303-1573 (print) | E-ISSN 2527-3876 (online) DOI Prefix : Crossref Prefix 10.70095 by Crossref Editor in Chief : Layaman Managing Editor : Wartoyo Publisher : UIN Siber Syekh Nurjati Cirebon Frequency : 2 issues per year (July and December) Citation Analysis : SINTA | GARUDA | Google Scholar | DIMENSIONS | Moraref | et., Al-Amwal: Jurnal Ekonomi dan Perbankan Syariah is a peer-reviewed journal published by the Department of Islamic Banking Syariah Faculty of Islamic Economics and Business (FEBI) of UIN Siber Syekh Nurjati Cirebon. The journal publishes papers in the accounting and finance field that contribute significantly to the development of the economic and sharia banking profession in Indonesia. Al-Amwal: Jurnal Ekonomi dan Perbankan Syariah is published twice a year; the first edition is published in July and the second edition is published in December. Al-Amwal: Jurnal Ekonomi dan Perbankan Syariah receives academic and academic research results from both internal and external. Al-Amwal: Jurnal Ekonomi dan Perbankan Syariah has been registered with ISSN 2303-1573 for the print version and e-ISSN 2527-3876 for the online version. Al-Amwal: Jurnal Ekonomi dan Perbankan Syariah has been accredited SINTA 4 at June 6, 2022 by Ministry of Education, Culture, Research and Technology (Kemendikbudristek) of The Republic of Indonesia as an academic journal in Decree (SK Dirjen No. 105/E/KPT/2022) and effective until 2026.
The copyright of the published article shall be assigned to the journal as the publisher of the journal. The intended copyright includes the right to publish the article in various forms {including reprints}. The journal maintains the publishing rights to the published articles. This work is licensed under a Creative Commons Attribution 4.0 International License.
Determinant of Moslem Consumer Purchasing Decisions at Mixue Franchise in Sidoarjo City East Java
This study analyzes the factors that influence purchasing decisions in the Sharia market, both partially and simultaneously. Partially, the study examines the influence of price, product variety, taste, and location on purchasing decisions. Simultaneously, research looks at the combined effects of these factors. The method used is quantitative with an associative research model, as well as a purposive sampling technique to select respondents according to Sharia market criteria. The research results show that price (p = 0,011), product variety (p = 0,043), and location (p = 0,018) have a significant effect on purchasing decisions, while taste (p = 0.562) has no significant effect. Overall, all these factors significantly influence purchasing decisions (p = 0,000). These findings emphasize the importance of Sharia principles in pricing, product variety, and location in improving consumer purchasing behavior in Islamic markets.This study analyzes the factors that influence purchasing decisions in the Sharia market, both partially and simultaneously. Partially, the study examines the influence of price, product variety, taste, and location on purchasing decisions. Simultaneously, research looks at the combined effects of these factors. The method used is quantitative with an associative research model, as well as a purposive sampling technique to select respondents according to Sharia market criteria. The research results show that price (p = 0,011), product variety (p = 0,043), and location (p = 0,018) have a significant effect on purchasing decisions, while taste (p = 0.562) has no significant effect. Overall, all these factors significantly influence purchasing decisions (p = 0,000). These findings emphasize the importance of Sharia principles in pricing, product variety, and location in improving consumer purchasing behavior in Islamic markets.
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Traditional Markets in Pekalongan City: Imam Al-Ghazali’s Perspective and SWOT Analysis Construction
This study aims to find out how traditional markets in Pekalongan Regency are from the perspective of Imam Al-Ghazali and the construction of SWOT analysis. This research is qualitative research that combines field studies and literature studies. The data in this study were obtained from interviews, observations, documentation, and also literature reviews such as books, journals, and other sources that are considered credible and relevant to the research topic. The results of the study show that the existence of traditional markets is very important for the people of Pekalongan Regency, both from the perspective of traders and buyers. Traditional markets have become a place for some people to find a source of livelihood. And for some other people, traditional markets are places to get various goods they need. This is following Imam Al-Ghazali’s thoughts about the importance of the market and the economic system in it. However, from a practical point of view, there are also things in traditional markets that are not following Imam Al-Ghazali’s thoughts. In the construction of SWOT analysis, traditional markets have various strengths, weaknesses, opportunities, and challenges that will affect their existence and development.
Integrating Sustainability into the Strategic Management of Financial Institutions in Developing Economies
This study discusses the role of financial institution management in supporting sustainable development and strengthening the national economy. In the context of globalization and dynamic economic challenges, financial institutions have a strategic role in channeling responsible financing, managing risks effectively, and encouraging sustainability-oriented investment. This study examines how policies, product innovations, and governance implemented by financial institutions can create positive social, economic, and environmental impacts. Through a qualitative approach with literature studies and secondary data analysis, this study found that the integration of Environmental, Social, and Governance (ESG) principles in financial management can encourage inclusive and sustainable economic growth. The results of this study are expected to be a reference for policymakers and financial industry players in designing strategies that balance profitability and sustainability.
Moderating Role of Religiosity on Islamic Financial Inclusion & Literacy on the Decision to Save at Islamic Banks
The presence of Islamic banks benefits society by meeting financial needs and following Islamic principles. Based on a case study of vocational school students majoring in Islamic Banking in Yogyakarta, this research focuses on the influence of religiosity as a moderating factor on Islamic financial literacy and the decision to save at an Islamic bank. This research aims to analyze the impact of Islamic financial literacy and inclusion on the decision to save at Islamic banks among vocational school students majoring in Islamic Banking in Yogyakarta, with religiosity as the moderating variable. This quantitative research uses questionnaires to collect data, with a sample as large as the number of respondents. The data are analyzed using the Test for Moderated Regression Analysis and SPSS 2. The results aim to reveal how these factors influence the decision to save at Islamic banks and their impact on Islamic financial education. The research results show that Islamic financial literacy and inclusion partially influence the savings decisions of vocational school students majoring in Islamic Banking at Islamic banks. The moderated regression analysis test shows that religiosity can moderate Islamic financial literacy and inclusion in the decisions of vocational school students majoring in Islamic Banking at Islamic banks. Keywords: Islamic Financial Literacy, Islamic Financial Inclusion, Decision to Save, Religiosity.
Determinant Factors of Consumer Satisfaction in Syariah Hotels Service to Costumer Decision Impact
This research aims to find out the rate of consumer satisfaction regarding the decision to stay at a sharia hotel in North Sumatra. This research approach is quantitatif multivariance analysis. The population is all consumers and the sample is 100 consumers. In this research, the analysis was assisted by the SPSS 29.00 application using simple linear regression analysis to prove whether or not there was an impact provided by the independent variable on the dependent variable. The data analysis technique in this research uses the classic assumption test which includes the normality test, linearity test and heteroscedasticity test, and hypothesis testing which includes the t test. To find out the coefficient of determination, a partial test will then be carried out to test the impact that the independent variable partially has on the dependent variable. Partially, the consumer satisfaction variable has a significant effect on decisions. Keywords: Sharia Hotel, Consumer Satisfaction, Decision to Stay
The Mediating Impact of Islamic Lifestyle and Religion Perceived Behavior Control on the Infulence of Income and Consumer Behavior Among Muslimah Career
The purpose of this study was to determine how good the effect of income on consumptive behavior with Islamic lifestyle and religious perceived behavior control as intervening variables for career Muslim women in Salatiga city. The type of research used is quantitative research with data collection by distributing questionnaires using an interval scale (1-10) with a population of Salatiga career Muslim women. The sample taken was 100 respondents using the Purposive Sampling technique. The analysis technique in this study uses Structural Equation Modeling (SEM) with Partial Least Square (PLS) technique, while the analytical tool used in this study is the SmartPLS 4.0 program. The results of this study indicate that: (1) Income has a Positive and Significant Effect on Islamic Lifestyle. (2) Income has a Positive and Significant Effect on Religious Perceived Behavior Control. (3) Income has a Negative and Insignificant Effect on Consumptive Behavior. (4) Islamic Lifestyle has a Negative and Significant Effect on Consumptive Behavior. (5) Religious Perceived Behavior Control Negatively and Significantly Affects Consumptive Behavior. (6) Income has a Significant Negative Effect on Consumptive Behavior with Islamic Lifestyle as an intervening variable. (7) Income has a Significant Negative Effect on Consumptive Behavior with Religious Perceived Behavior Control as an intervening variable. Keywords: Consumptive Behavior, Income, Islamic Lifestyle and Religious Percheived Behavior Control
Determinant of Risk Financing in Peer-To-Peer Lending on Sharia Perspective
This paper aims to discuss the implementation of sharia fintech financing and risks that have the potential to occur in Indonesia. Fintech operational activities sharia with a peer-to-peer (P2P) financing model and risk mitigation can carried out to minimize the risks in Indonesia that make MSMEs as the main market segment. This paper discusses the development of sharia fintech in Indonesia and more specifically its contribution nationally. Case studies are derived from Wrong One platforms P2P Which Once get award as The best Sharia fintech in providing services to MSMEs in Indonesia. Finally, will closed with resolution sharia in finish financing problematic. This paper contributes to the development of sharia fintech Because give description difference risks fintech sharia with other sharia financial institutions because sharia fintech places more emphasis on risk sharing and not making financial intermediation institutions the only the only one risk bearer greatest liquidity.
Assessing the Health Level of Islamic Commercial Banks for the Period 2018-2022: RGEC Analysis
Â Public perception of the stability and reliability of a bank is strongly influenced by various indicators of bank health, which in turn will affect their decision to choose the bank. This study aims to analyze the health level of Islamic Commercial Banks in Indonesia during 2018-2022 with the RGEC approach. The research method uses quantitative descriptive techniques on secondary data from financial statements and GCG reports from Islamic Commercial Banks between 2018 and 2022. The findings of this study reveal that overall the Islamic Commercial Bank is at PK-3 with a fairly good predicate. The risk profile component was evaluated, as measured by the NPF and FDR ratios obtained PK-2 with a healthy predicate. The Good Corporate Governance (GCG) component, evaluated through self-assessment analysis obtained PK-2 with a healthy predicate. In the earnings aspect, which is measured through the return on assets (ROA) ratio, obtaining PK-3 is quite healthy. However, the Operating Cost-Operating Income (BOPO) ratio is categorized as unhealthy with PK-5. Meanwhile, the assessment of the capital component received PK-1 with a very healthy predicate. Keywords: Bank health level, RGEC, Islamic Commercial Bank
The Dynamics of Islamic Finance in Kazakhstan: Exploring Opportunities and Addressing Challenges
Introduction: This paper explores the burgeoning field of Islamic finance in Kazakhstan, highlighting the opportunities and challenges that lie ahead. Islamic finance, which adheres to Sharia law, provides a distinct alternative to conventional banking systems. As Kazakhstan seeks to diversify its financial sector and attract investments from Muslim-majority countries, understanding the dynamics of Islamic finance becomes crucial. This study examines the legislative framework, market potential, key players, and the socio-economic implications of Islamic finance in Kazakhstan. The case study of existing Islamic banks is given, and their financial performance is examined. Methods: This research employed a qualitative approach, incorporating a literature review and descriptive-exploratory analysis. Primary data were obtained from academic literature, official reports from international financial institutions, Kazakh government regulations, and publications related to the development of Islamic finance in Central Asia. Data analysis techniques included reduction, categorization, and thematic interpretation to identify the dynamics, opportunities, and challenges associated with the implementation of Islamic finance in Kazakhstan. This approach was chosen to provide an in-depth understanding of the actual conditions and prospects of Islamic finance, while also generating strategic recommendations for the development of the industry at the national and regional levels. Results: The research paper also highlights the obstacles faced by the Islamic finance sector and the potential for expanding its implementation. Conclusion and suggestion: The paper further recommends solutions for integrating Islamic finance into Kazakhstan’s economy.
Nexus Between Energy Poverty, Economic Growth, Ijarah Sukuk and Environmental Degradation in Nigeria
Introduction: Poor energy access leads to environmental degradation among developing countries in Africa. This study investigated the nexus among energy poverty, economic growth, Ijarah Sukuk and environmental degradation in Nigeria based on time series data covering 1981 to 2023. The study intends to explore the effect of energy poverty, Ijarah Sukuk and economic growth on environmental degradation. Methods: The variables used were environmental degradation (dependent variable), energy poverty, Ijarah Sukuk and economic growth (independent variables). Population growth and capital formation were the control variables. Autoregressive Distributive Lag and Vector Error Correction were concurrently applied. Results: The study found a long run relationship based ARDL Bound test which justifies for both long and short run estimations. The result of long run revealed that energy poverty and Ijarah Sukuk are negatively and significantly related to environmental degradation, while economic growth is positively and significantly associated. Also, the short run, result is consistent to its long run estimates even at 10%. This shows that, an increase in current value of energy poverty and Ijarak Sukuk will decrease environmental degradation but increase by an increase in one-year lag value of energy poverty, while a point growth of economy will increase environmental degradation. Finally, the Vector Error Causality result indicates evidence of uni-directional causality from economic growth and energy poverty in the short run. Therefore, the growth of economy which leads to a reduction in energy poverty will result to higher environmental degradation reflecting two-sided blades of the same razor for Nigeria. Study of this nature reveals how the interplay among poor energy consumption, economic growth and environmental degradation, and concludes that energy poverty and economic growth have significant effect on environmental degradation for Nigeria. Conclusion and suggestion: Finally, it was recommended that, policymakers should prioritize energy poverty reduction strategy through adopting economic growth and environmentally friendly technology policy framework in Nigeria.
Deprived of the Islamic Financing and Lack of Inclusion of Muslim Populated States in India: An Empirical Study
Introduction: Financing is the backbone of economic growth. It serves as the lifeblood of any business. However, any financial exclusion, especially Islamic financing exclusion driven by a socio-economic and political purpose to deprive of certain segment of society due to suspicion of terrorism or suppressions by state, makes a difference. In fact, these are banking services and financing facilities originally intended to provide socio-economic benefits to the overall citizenry and the general public, but they have certain limitations in policy prescriptions. It is crucial to make the availability of financial services the leading and primary objective of the public policy, and not discriminate on the basis of ones’ social status, caste, religio, or wealth. In March 2005, the former Prime Minister Dr. Manmohan Singh, an architect of modern Indian economic revilism who passed away recently, appointed a high-level committee to prepare a report on the social, economic, and educational status of Indian Muslims, under the chairmanship of Justice Rajendra Sachar. The Sachar Report is considered the most valuable document that delves into the social, economic, and educational status of the Muslim community of India. The findings of this report revealed a shocking testimony to decades of institutional neglect and bias that have left the Indian Muslims far behind other Socio-Religious Communities, in the fields of education, employment, access to credit, and other social and physical infrastructure. The Indian banking sector has evolved over the years in terms of performance and complexity. Despite this development and growth, a large number of people have limited access to the financial services offered by financial institutions. Methods: The concern on which this study is based is the increasing financial exclusion among the Indian population generally and the Muslims in India specifically. In this novel study, we utilized panel data covering 14 Muslim-populated Indian regions (13 states and 1 Union Territory) from 2009 to 2016 to assess the factors influencing financial inclusion in terms of credit and deposit penetration. Results: By employing an explicit econometric model for panel data, it is found that the number of banking offices, per capita net state domestic product, outstanding liabilities, social sector expenditure, number of employees, and interest payments are some of the factors that influence financial inclusion. Conclusion and suggestion: This study will benefit the policymakers, state and government officials, society in general, especially Muslim populations in the relevant areas of Republic of India.
Islamic Economics under Colonial Rule: The British Encounter with Muslim Northern Nigeria and Its Enduring Economic Legacies
Introduction: The antagonism against Islam and Muslims, once manifested through the military campaigns of the Crusades, has evolved into more subtle yet pervasive forms in the modern era – most notably, Western imperialism and colonialism. British colonial rule in Northern Nigeria exemplifies this trajectory, as it entailed not only political domination but also efforts to impose Christian missionary ideals and systematically restructure indigenous Islamic institutions. This study investigates the historical, judicial, and economic impacts of British colonialism on Islam in Northern Nigeria, with particular attention to the responses of Muslim communities and the enduring consequences for Islamic governance and identity in the region. Methods: This paper employed historical and analytical methods, drawing on archival materials, Islamic scholarly sources, and relevant secondary literature to assess the colonial encounter. It contextualizes the arrival of Islam in Northern Nigeria and the subsequent British incursion, revealing that the most critical internal weakness of the Sokoto Caliphate was the inability of successive Sultans and Emirs to uphold the reformist ideals that defined its foundation. The dilution of Shari’a authority, particularly during the pre-independence period, led to a decline in public trust due to the appointment of poorly trained and morally compromised judicial officers. At the same time, British colonial economic policies rooted in exploitation and resource extraction undermined indigenous economic structures, marginalized Islamic leadership, and entrenched structural inequalities that continue to affect the region. Results: The research highlighted that Muslim resistance to colonial rule, often framed within the Islamic ideal of martyrdom (shahāda), played a significant role in preserving religious identity and Islamic culture. This historical resilience forms a critical basis for contemporary efforts toward Islamic institutional renewal. The paper concludes by recommending the revitalization of Islamic reformist principles, the promotion of dual (Islamic and Western) education, the restoration of integrity within Shari’a courts, the empowerment of qualified Ulama, and an economic reorientation rooted in Islamic ethics. Conclusion and Suggestion: It further suggests documenting Muslim resistance history and forging strategic partnerships with development actors to advance justice, education, and institutional strengthening within Northern Nigeria.
Halal Food Production and Nutritional Value: A Study of MSMEs in Northern Nigeria
Introduction: The rapid growth of micro, small, and medium enterprises (MSMEs) in Northern Nigeria has coincided with an increase in consumer demand for halal–tayyib food products that meet both Islamic dietary requirements and nutritional criteria. This study explores the practices of halal food–producing MSMEs in Kaduna and Kano states, evaluating how they achieve compliance with Shariʿah criteria while delivering nutritionally balanced offers. For cultural, religious, and health reasons, the largely Muslim populace of northern Nigeria depends significantly on halal-certified goods. However, there is a dearth of empirical studies on how local MSMEs simultaneously manage certification, ingredient procurement, processing, and nutritional adequacy. While halal certification addresses ritual purity, it does not guarantee nutritional quality. Anecdotal evidence suggests that many small producers prioritize certification over nutrient profiling, which may potentially jeopardize public health. This study fills the gap by evaluating both halal compliance and nutritional value in the outputs of MSMEs. Methods: Using a mixed methods approach, 20 halal certified MSMEs were surveyed on their sourcing, processing, and quality control practices; 40 food samples (such as meat products, dairy, and baked goods) were analyzed in a lab to measure macro and micronutrient content; 20 in-depth interviews with MSME owners, halal certifiers, and nutrition experts provided contextual insights; quantitative data were analyzed using descriptive statistics and correlation tests; qualitative data were subjected to thematic analysis. Results: Only 40% of the sampled MSMEs met national standards for essential nutrients (protein, iron, and vitamin A), despite the fact that 90% of them maintained valid halal certification. Common obstacles to nutritional quality included gaps in regulatory oversight, limited technical capacity, and cost constraints on fortified ingredients. MSME owners expressed a strong commitment to halal integrity but lacked knowledge about nutritional guidelines. The study emphasizes the need for integrated halal–nutritional frameworks and capacity-building initiatives aimed at MSMEs. Policymakers and Islamic authorities can collaborate to develop training modules and offer incentives for nutrient enrichment, in addition to halal certification. Conclusion and Suggestion: Ensuring both halal compliance and nutritional adequacy is crucial for maintaining public health and fostering consumer trust. In Northern Nigeria, enhanced collaboration among certification organizations, nutrition organizations, and MSMEs can foster a halal food industry that is both ethically sound and health-promoting.
Fintech, Blockchain, Islamic Finance: A Systematic Literature Review
Introduction: The rapid development of financial technology (fintech) and blockchain has brought a major transformation in the global industry, including in the Islamic finance sector. However, integrating fintech and blockchain with Sharia principles remains a challenge and has not been studied systematically. This research aims to map and analyze the development of research related to Fintech, Blockchain, and Islamic finance, identifying trends, research gaps, and future development directions. Methods: This study employed a qualitative research method with a Systematic Literature Review approach, utilizing a model prism. The data source for this study consisted of published articles obtained from Scopus and Emerald. The study's results showed that 30 articles, published in Scopus and Emerald, were published between 2015 and 2024. Results: Based on the findings obtained, it is evident that blockchain technology, fintech, and digital innovation have significant potential in enhancing the efficiency, transparency, and inclusivity of Islamic finance, particularly through applications in zakat, waqf, sukuk, and crowdfunding. Despite regulatory and collaboration challenges, these technologies have been able to eradicate poverty, support economic development, and expand access to finance, including in non-Muslim countries. Technology adoption is also influenced by religiosity factors and perception of benefits, confirming the need for global regulatory and standard support to maximize its benefits. Conclusion and Suggestion: The reviewed studies suggest that blockchain technology has significant potential to strengthen trust and compliance with Shariah by enabling smart contracts, decentralized financial products, and transparent auditing mechanisms. Moreover, fintech solutions can expand financial inclusion in Muslim-majority countries and beyond, especially for the unbanked population. However, challenges remain in terms of regulatory frameworks, Shariah standardization, scalability of blockchain applications, and the readiness of financial institutions and customers to adopt these innovations. In conclusion, while fintech and blockchain present strong prospects for advancing Islamic finance, further research and practical implementation are required to fully realize their potential in providing Shariah-compliant, inclusive, and sustainable financial services.
Risk Management for the Distribution of Zakat, Infaq, and Shadaqah (ZIS) Funds on the Mentari Scholarship Programme at Zakat Center LAZISMU Gresik
This research analyzes the risks in distributing Zakat, Infaq, and Shadaqah (ZIS) funds in the Mentari Scholarship Program at LAZISMU Gresik and how risk management is applied. This research uses descriptive qualitative methods with triangulation data collection techniques: observation, semi-structured interviews, and documentation. The results showed that there are risks in the distribution of Zakat, Infaq, and Shadaqah (ZIS) funds in the Mentari scholarship program, including (1) Risk of uneven allocation, (2) Risk of lack of coordination between Zakat Management Organisations , (3) Risk of delays in distribution and the risk of findings, namely the risk of administrative delays. The application of risk management in the distribution of Zakat, Infaq, and Shadaqah (ZIS) Scholarship Mentari funds refers to the risk management model in zakat institutions in the BAZNAS and Bank Indonesia books, including the context establishment phase, risk identification, and its impact, risk measurement, risk evaluation, and risk treatment. In addition, risk management applies the principles of priority scale and transparency. The distribution of Zakat, Infaq, and Shadaqah (ZIS) funds must be guided by the SOP for the implementation of pentasyarufan / utilization activities listed in the policy book and LAZISMU management strategic plan for Gresik Regency in 2022. Â
Determinant of Customer Decisions in Choosing The Savings Products at Bank Riyal Irsyadi
Abstract The purpose of this study is to find out the factors that influence customers in choosing the Riyal Irsyadi Bekasi Islamic bank. The respondents in this study were 100 people with the provision of Sharia bank savings user Riyal Irsyadi as a sample and the place of the research conducted in the city of Bekasi. The research method uses descriptive quantitative with purposive sampling techniques. The results of this study show that the factors of religiosity, social, and marketing promotion. It is evidenced by the results of the percentage of questionnaires distributed to the sample with a value of 58% of the variables studied, 42% of the variables that were not studied where other factors were outside the variables that had been studied. Based on the results of multiple linear regression analysis, it can be stated that of the three variables studied, it turns out that the service factor variable is 143.214 which has a more dominant coefficient value than other factor variables. The second high coefficient value is the social environment with a value of 1.054 then the lowest coefficient value is the religiosity variable 0.357 It can be concluded from the results of the research that the biggest factor that influences customers to choose Riyal Irsyadi Sharia Bank savings is the service factor where Islamic bank products have excellent service, have products needed by customers, as well as the existence of offers with Islamic principles without usury, garar, and maysir, all of which include aspects of the principles of the Riyal Irsyadi's Islamic bank. Keywords: Islamic Bank, Customer Service, Savings product. Abstrak Tujuan penelitian ini adalah untuk mengetahui faktor-faktor yang mempengaruhi nasabah dalam memilih bank syariah Riyal Irsyadi bekasi. Responden dalam penelitian ini berjumlah 100 orang dengan ketentuan nasabah tabungan bank syariah Riyal Irsyadi sebagai sampel dan tempat penelitian dilakukan di kota bekasi. Metode penelitian menggunakan deskriptif kuantitatif dengan teknik purposive sampling. Hasil penelitian ini menunjukkan bahwa faktor religiusitas, sosial, dan promosi pemasaran. Dibuktikan dengan hasil presentase kuesioner yang disebarkan kepada sampel dengan nilai sebesar 58% variabel yang diteliti, 42% variabel yang tidak diteliti dimana faktor lainnya berada diluar variabel yang telah diteliti. Berdasarkan hasil analisis regresi linier berganda dapat dinyatakan bahwa dari ketiga variabel yang diteliti ternyata variabel faktor pelayanan sebesar 143,214 memiliki nilai koefisien yang lebih dominan dibandingkan variabel faktor lainnya. Nilai koefisien tinggi kedua yaitu variabel lingkungan sosial dengan nilai sebesar 1,054 kemudian nilai koefisien terendah yaitu variabel religiusitas 0,357. Dari hasil penelitian dapat disimpulkan bahwa faktor terbesar yang mempengaruhi nasabah memilih tabungan Bank Syariah Riyal Irsyadi adalah faktor pelayanan dimana produk bank syariah memiliki pelayanan yang sangat baik, memiliki produk yang dibutuhkan oleh nasabah, serta adanya penawaran dengan prinsip syariah tanpa riba, garar, dan maysir yang kesemuanya itu sudah termasuk aspek prinsip bank syariah Riyal Irsyadi. Kata Kunci : Bank Syariah Riyal Irsyadi, Nasabah, Keputusan Memilih Produk.
Dynamics of Fundamental Factors and Macroeconomics in Determining The Stock Prices of Islamic Banks in Indonesia
This study aims to analyse the influence of fundamental variables of Islamic banks in Indonesia and Indonesian macroeconomic variables on the dynamics of Islamic bank stock prices in Indonesia in the period 2020 to 2023. This study uses a quantitative method with secondary data in the form of Islamic bank financial reports and publication data from Bank Indonesia. The analysis techniques used include descriptive statistics, classical assumption tests consisting of normality tests, multicollinearity tests, autocorrelation tests, and heteroscedasticity tests, as well as panel data regression techniques. The results of the study show that EPS has a positive but insignificant effect on stock prices, NPM has a negative but insignificant impact on stock prices, inflation has a negative but insignificant effect on stock prices, and interest rates have a positive but insignificant impact on stock prices. While together, all independent variables have a positive but insignificant impact on stock prices.
The Analysis of Implementation Halal Certification for Micro, Small, And Medium Enterprises (MSMES) In Padangsidimpuan City
This study aims to analyse the implementation of halal certification for Micro, Small, and Medium Enterprises (MSMEs) in Padangsidimpuan City, focusing on the impacts, challenges, and government support in the certification process. Halal certification has excellent potential to increase the competitiveness of MSMEs in the domestic and international markets, considering that most of the residents of Padangsidimpuan City are Muslims. The results of the study show that halal certification has a positive impact on increasing sales, consumer confidence, and market expansion. However, MSMEs face several significant obstacles, such as high certification costs, the complexity of procedures, and the need to understand the importance of halal certification. Through training, socialisation, and subsidies for certification fees, government support has made a positive contribution but still needs improvement. This research provides policy recommendations to overcome these obstacles, including increasing subsidies, digitising the certification process, and public awareness campaigns about the importance of halal products. Overall, this study reveals halal certification’s great potential in encouraging halal-based MSMEs’ growth in Padangsidimpuan City. Still, a better-supporting mechanism is required so that more MSMEs can exploit halal market opportunities. Â
The Impact of Islamic Banks Productive and Consumptive Financing on Indonesia Economic Growth
This research aims to determine the role of Islamic banks institution financial programs encourages the Indonesia's real economy. The financing variable is explained in more detail through the type of financing channeled, namely productive financing, consumptive financing, third-party funds (ID) as one of the sources of funds for financing distribution by Islamic banks, and gross fixed capital formation (GFCF) variables as control variables. Panel data regression is used in this research to investigate the influence of variables in 33 provinces in Indonesia in the period 2013-2023. It was found that the growth of productive financing, third-party funds, and GFCF had a significant positive effect on GRDP growth partially, while the consumptive financing growth variable had an insignificant negative impact. Simultaneously, all four independent variables successfully influence the dependent variable significantly. According to this study findings, researchers urge Islamic bank institutions to encourage the distribution of productive type financing to increase the productivity of economic activities in Indonesia, considering that most of the Islamic financing channeled is consumptive.
The Mediating Role of Reputation on Trust, Governance and Sharia Bank Performance
This research aims to analyze the influence of trust and governance on Islamic bank performance which is mediated by corporate reputation. This research uses quantitative methods with data collection techniques through questionnaires with sampling using Accidental Sampling. Data analysis uses Partial Least Square Structual Equation Model (SEM PLS). The research results show that trust has a positive effect on the performance of Islamic banks, but trust does not act as a mediator in the relationship between governance and Islamic bank performance. Furthermore, governance variables have a significant influence on reputation. However, other variables such as governance and reputation have no effect on the performance of Islamic banks. Apart from that, governance on the performance of Islamic banks which is mediated by reputation does not have a significant influence. Overall, trust, governance and reputation play an important role, but to improve the overall performance of Islamic banks requires support from various other factors such as product innovation, operational efficiency, service quality and effective risk management. The results of this research contribute to Sharia Banking to improve company performance through the implementation of Trust, Governance and Corporate Reputation. Keywords: Trust, Governance, Reputation, Company performance Â
The Impact of FOMO on The Hedonism Attitude of Generation Z In Islamic Consumption Behavior
This study discusses the impact of the Fear of Missing Out (FOMO) phenomenon on hedonistic attitudes in Generation Z's consumption behavior, focusing on the context of Islamic economics. The 20th century witnessed technological advances that brought significant changes in people's lifestyles, especially among Generation Z who are always connected to social media. This encourages excessive consumer behavior, which can be seen as a response to social pressure to keep up with trends. This study identifies that FOMO encourages individuals to adopt a hedonistic lifestyle, which prioritizes temporary satisfaction over long-term considerations. A literature analysis approach is used to explore the relationship between FOMO, hedonism, and Islamic consumption principles. The results show that the application of Islamic values, such as justice and moderation, can help Generation Z manage their consumption behavior, avoid waste, and find a balance between material and spiritual needs. These findings are expected to provide insight for the younger generation to develop more responsible and sustainable consumption patterns.
The Analysis of Product Differentiation & Brand Awareness on Interest in Becoming a Customer of Commercial Islamic Bank
Islamic banking is one type of banking activity whose activities are based on sharia principles, which aims to be free from usury. However, in its development it has experienced obstacles, especially in the field of marketing. So that the right strategy is needed, so that Islamic banking can be accepted by the community. In this case, in order to win the competition, it must create a product that is different from similar products, this difference is called product differentiation. In addition, the company can raise public awareness of its existence with a positive and innovative impression through the products offered. The purpose of this study is to determine the effect of product differentiation and brand awareness on the interest in becoming a customer of Bank Muamalat Indonesia. The method used in this study is descriptive analysis with a quantitative approach. While the number of samples in this study was 100 respondents. The data analysis tool used was Multiple Linear Regression Analysis. The results of this study show that product differentiation and brand awareness together influence the interest in becoming a customer; (2) product differentiation has a positive effect on purchasing interest; (3) brand awareness has a positive effect on purchasing interest.
A Challenge and Development of Corporate Zakat Distribution on Shari'ah Commercial Banks in Nanggroe Aceh Darussalam
The purpose of this study is to find out how the concept and mechanism of corporate zakat distribution in Islamic banking, as well as the challenges and obstacles in the issuance of corporate zakat with special case of Islamic Commercial Banks in Aceh. This study uses a normative sociological approach where the main data is obtained from the results of interviews and annual reports of Islamic banking in Aceh from the period 2020 to 2021. Data collection techniques through interviews and documentation data. The results showed that of the 4 Islamic Commercial Banks only Bank Muamalat Indonesia paid corporate zakat and the other 3 Banks only issued employee zakat. But the three banks in 2020 did not issue their zakat to Baitul Mal but to zakat institutions managed through foundations. One of the obstacles or causes of some Islamic Commercial Banks that do not pay zakat to Baitul Mal is that at that time covid-19 was rife, this resulted / had an impact on the bank experiencing a decrease in income or it could be said that the economy was paralyzed due to the impact of covid-19, finally the zakat management organization decreased its income. So the zakat that should have been issued by the company to Baitul Mal has been channeled to the handling of the corona virus public health center for needs during the pandemic, the aim is that the community can avoid the covid outbreak that is currently raging.
Economic Growth: Addressing the Nexus of Education, Unemployment, and Poverty, an Islamic Perspective
This research aims to analyze the effects of education, unemployment, and poverty on economic growth in West Java. This research used a quantitative technique. The research was conducted from 2018 to 2022. The data source used is secondary data acquired from the Central Statistics Agency (BPS) using panel data methods. This research included 27 cross-sectional analyses across 27 districts/cities in West Java over a period of 5 years. The total number of observations included 135 samples. This research used panel data regression methods. The results indicate that educational attainment and unemployment rates affect economic growth. The poverty variable has a little influence on economic development. The findings indicated that all independent variables concurrently influence the dependent variable.
Determinants of Sustainability Report On Mining Companies In Indonesia Sharia Stock Index (ISSI)
Sustainability Report recent years have become crucial part of Integrated Reporting, which combines financial and non-financial parameters. In Indonesia, 144 issuers have implemented Environment-Social-Governance principles and sustainability reporting. This aims of research to determine how board size, gender representation, profitability, leverage, and institutional ownership affected sustainability report disclosure. This form of field study uses explanatory research approaches based on quantitative analysis. In data analysis, statistical computation is used to evaluate the hypothesis, which is a verification using SPSS 26. This research found that the disclosure of sustainability reports is unaffected by profitability, leverage, or the participation of female directors. However, the size of the board of directors positively affects the disclosure of sustainability reports, whereas institutional ownership negatively affects sustainability reports disclosure. Keywords: Sustainability Report, Profitability, Leverage, Good Governance
Determinants of Financial Performance on Islamic Banks in ASEAN for Period 2019-2023
Islamic banks in ASEAN have a strategic role in supporting regional economic stability, but they also face various challenges in managing risks that can affect their financial performance. This study aims to analyze the determinants of the financial performance of Islamic banks in ASEAN, especially the influence of financing risk, liquidity risk, and capital adequacy on Return on Assets (ROA) as an indicator of financial performance. This study uses a purposive sampling method with a sample of five Islamic banks in ASEAN, namely Bank Muamalat Indonesia, Bank Islam Brunei Darussalam, Amanah Islamic Bank Philippines, Bank Islam Malaysia Berhad, and Bank Islamic Thailand, using annual data for the 2019-2023 period. The analysis was carried out with a panel data regression model using the EViews 10 program. The independent variables in this study include financing risk (NPF), liquidity risk (FDR), and capital adequacy (CAR). The results showed that partially, FDR had a significant negative influence on ROA with a value of Sig. 0.04 < 0.05, while NPF showed a positive significant influence with a value of Sig. 0.00 < 0.05. In contrast, CAR had no significant effect on ROA with a value of Sig. 0.5651 > 0.05. Simultaneously, FDR, NPF and CAR have a significant effect on the ROA of Islamic Banks in ASEAN for the 2019-2023 period. Keywords: Liquidity Risk (FDR), Financing Risk (NPF), Capital Adequacy (CAR), Financial Performance, Islamic Banks, ASEAN.
Endorsement Practices Of Syariah Digital Investment By Influencers: An Islamic Economic Perspective In Ethics And Sustainability Studies
The rise of influencers who become affiliates of fraudulent investments provides benefits for investors. The younger generation who tend to FOMO will easily suffer losses due to content created by influencers. Where influencers do not necessarily convey information honestly through content created related to digital investment. This study aims to analyze the role of influencers in sharia digital investment. The trend of sharia investment and the use of influencers has increased, making it an opportunity for investors to choose. In fact, in Indonesia, digital investment results in major losses. This study uses a qualitative approach that uses a literature review method as a method used by researchers. The results of the study provide an overview of the importance of influencers maintaining ethics. In the Islamic perspective, it is regulated about the importance of receiving information that is true and providing information that can be accounted for. Islam provides guidance on investments that are far from gharar and destructive. Influencers and investors need to be equipped with good financial literacy and strengthen the principle of caution. Where previously the principle of caution had not been studied in sharia digital investment through influencers
Measurement of the Efficiency Level of Islamic Insurance Firms in Indonesia: DEA and SFA Analysis
This study aims to measure the efficiency level of Islamic insurance companies in Indonesia using DEA and SFA, with secondary data from 13 companies in the 2019-2023 period. DEA measures the relative technical efficiency of a company compared to other companies in the same group, while SFA measures efficiency by considering stochastic factors that can affect company performance. The results show that there is high variation in efficiency between companies in DEA, while SFA produces efficiency scores above 60%, tending to be higher than DEA. This research provides practical implications for Islamic insurance companies to improve efficiency through resource optimization, in order to get maximum output so that the efficiency level of Islamic insurance companies can increase.
Strategy for Increasing Interest in Muzakki Through Digital Payment Applications: Case Study in Baznas Jombang
Â In this digital era, many institutions have implemented digital payments as a tool for transactions easily and efficiently. But there are still many people in general, especially Muzakki, who don't know how to make transactions via digital payments. This causes people's interest in becoming muzakki in giving zakat to not increase due to several factors such as a lack of understanding about what digital payments are used, then a lack of socialization regarding the benefits of digital payments for muzakki. institutions must socialize about Digital Payment so that it is easier for Muzakki to carry out zakat transactions. The research methods used by researchers are descriptive qualitative methods and case studies. By writing this journal, researchers can conclude that the existence of digital payments which have been implemented by the Jombang national zakat amil institution (BAZNAS) is not widely known by the community as a whole. So the public's interest in becoming muzakki has increased but not too significantly. Of the many digital payments used by institutions, many muzak choose to transact via banks. Keywords: Digital Payment, Interest, Muzakki, Zakat
Exploring Trust Dynamics in Islamic Insurance Company
This paper examines the determinants of customer trust in Islamic insurance agents in Bumida Islamic Unit Insurance. An online questionnaire that included information on customers' views of Islamic insurance agents was used to collect data from all Bumida Islamic Unit Insurance branch offices. The Structural Equation Models with Partial Least Square (SEM-PLS) approach is used for quantitative analysis. The primary data used in this research was obtained from 60 respondents from some Islamic branches of Bumida Islamic Unit Insurance. It was found that communication, expertise, and image determine customers' trust in Islamic insurance agents on Bumida Islamic Unit Insurance's significant values. These findings support the previous research findings on this issue. Customer trust in Islamic insurance agents is essential, but more is needed to construct customer trust. This research proposes a new perspective on what determines the trust of insurance customers in Islamic insurance agents.