UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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ASEAN Halal Markets Analysis: Regulatory and Harmonization Challenges
Get PDFThis article examines important aspects of the halal market’s development, including halal food in seven advanced members of ASEAN countries. The qualitative method has been used by examining the main aspects of the regulation, a form of institutions, a SWOT analysis, a study of the impact of halal food regulations, and an analysis of ASEAN regulatory harmonization. Data on halal food regulations in ASEAN-7 countries were obtained from literature reviews, official documents, publications, interviews, and direct field observations. The study shows that halal regulations in ASEAN-7 generally are adequate for their purpose but reveal diversity in halal standards, institutional forms, internal and external environmental conditions, and their impacts. The implication shows that the ASEAN can potentially increase halal business and global halal trade. Although various efforts have been made, more synergistic cooperation is needed to develop harmonious halal trade regulations to increase economic, social, and consumer protection benefits for the ASEAN region.
Originality/Value: This study investigates the existence of research gaps between empirical data and literature or theories concerning the trade in halal food products within the ASEAN region. The study on the harmonization of halal regulations in ASEAN and its relationship to trade flows has not been extensively conducted. It is hoped that this research will prove beneficial to both academic literature and the formulation of regional policies regarding the halal food trade among ASEAN countries
Islamic Ethnomethodology Studies to Uncover Local Cultural Values Behind Capital Accounting Practices
Get PDFPurpose: The purpose of this study is to find the value of local wisdom behind the business capital of food stalls in Gorontalo.
Methodology : the type of method used is qualitative. there are five stages of data analysis namely charity, knowledge of faith, revelation information, and courtesy.
Findings: The informants obtained capital sourced from debt through their relatives, so there was no guarantee, interest, and flexible terms of debt repayment. Meanwhile, informants who used capital sourced from personal funds were because places to eat, equipment, and business equipment were inherited from their parents. So that informants only need to spend a small amount of money on starting a business. The capital practiced by the owners of the food stalls is conditional on non-material values in the form of kinship. In the culture of the people of Gorontalo, the value of kinship is one of the spirits that the elders often internalize through the expression "dilla bo ilaato binthe wawu pale" This expression means a family statement because of blood relations or is still allied.
Novelty: The novelty of this research is to present capital accounting practices based on local cultural value
Local Wisdom, Dignity, Trust, and the Construction of Social Collateral for Micro Financing
Get PDFMicro business plays an important role in poverty alleviation. Yet, its development is constrained by the absence of access to banking at a reasonable cost. This is simply due to the unavailability of collateral to back up the loan/financing. Actually, the lack of physical collateral may be substituted by social collateral that informally exists in society and the micro-business community. Therefore, there has to be an effort to officialize and construct the social collateral in order for the banking industry to admit and accept it as collateral. This work begins with research on the effect of social capital on repayment performance. This is to the extent that the effect of social capital has long been recognized by many economists, even though not formally theorized. Yet, there are ample notions stating that there is a close relationship between those variables. This research was carried out to see in more detail the role of local wisdom, approached from religiosity. This research was accomplished using a survey method, which got primary data directly from the respondents. The ground of research was the Southern Region of Kedu, Central Java, Indonesia. The results suggest that religiosity shares the effect with social dignity as well as trust and they all show to be dominant variables affecting repayment. The implication is it seems better for both the government and banking industry to consider this arrangement a substitute for physical collateral. Moreover, the construction of social collateral is, indeed, in accord with the uncovered fact.
Originality/Value: This paper addresses the issue of loan repayment in Islamic micro financing. Because of the unavailability of collateral in small and micro firms to support loans or financing, this study examines the importance of social capital to substitute physical collateral in dealing with repayment performance
Public Service Journal About Sharia Pawnshop
Get PDFThis journal is the result of the final report of the final assignment for the Islamic Financial Management course in the form of community service. The form of service that is carried out is by educating the general public about Sharia Pawnshops. This education regarding Sharia Pawnshops is carried out because it turns out that there are still many Indonesian people, especially the Muslim community who do not know about Sharia Pawnshops. Many people still use conventional pawnshops. In fact, when viewed in terms of its products, Pegadaian Syariah has products that are more in line with Islamic Sharia. The purpose of this education is to increase the literacy of the Indonesian people, especially the Muslim community regarding Sharia Pawnshops. In carrying out this service, we use the implementation method which consists of 3 stages. Namely the preparation stage (preparing material to be taught), the stage of making educational media (making posters), and the third is the stage of delivering material (delivered using Instagram media). From this dedication, we made several conclusions, it turns out that the Muslim community in Indonesia still doesn\u27t use it much, even they know about the existence of Sharia Pawnshops and their products
Sharia Financing Online Education: Mudhorobah, Musyarokah and Murobahah Financing
Get PDFThe development of digital technology has benefits as a learning support material. Instagram is a social media network that can be used to share photos or videos. This service aims to utilize Instagram social media for the purposes of Syairah investment education: Sukuk. The results of this activity show quite satisfactory results with 781 views and 69 likes and several comments that show the enthusiasm of Instagram users for the Sukuk Sharia investment education video. In the future, it is hoped that activities like this can be reproduced not only through Instagram but also through other social media
Analysis of the Influence of Macroeconomic and Global Factors on the Composite Stock Price Index on the Indonesia Stock Exchange
Get PDFFluctuations in the movement of the Composite Stock Price Index are caused by the influence of macroeconomic and global factors. Looking at the inconsistencies in the results of previous research, the significance of the influence is still questionable. In this context, this study aims to analyze the Influence of Macroeconomic Factors with indicators of Inflation and Money Supply, as well as Global Factors with indicators of World Oil Prices with the Error Correction Model (ECM) approach. Using research observations from 2021-2023, it was found that the variables Inflation, Money Supply and World Oil Price have a long-term influence on the Composite Stock Price Index on the IDX, while in the short term, only the World Oil Price variable influences the Composite Stock Price Index on the JCI
The Measurement of Efficiency and Productivity of Small Banks Comparative Study in Central Java and Yogyakarta
Get PDFResearch Aims: The purpose of this study was to determine the effect of promotion and service quality on students\u27 interest in choosing SIPINTAR products at PT. Bank Perkreditan Rakyat Pembangunan Kerinci.
Methodology: This study uses a quantitative research design with a survey approach. The research sample was 60 students in Kerinci Regency while the sampling technique was the convenience sampling method. The data analysis technique used multiple linear analysis, while the hypothesis testing used the statistical t test and F test with the help of the IBM SPSS 26 application.
Research Findings: The results of this study found that partially promotion had a positive and significant effect on students\u27 interest in using SIPINTAR products, while service quality had no effect on students\u27 interest in using SIPINTAR PT. Kerinci Development People\u27s Credit Bank. The results of the F test show that promotion and service quality simultaneously have a significant effect on using PT. SIPINTAR products. Kerinci Development People\u27s Credit Bank, with the magnitude of this influence, namely 20.6%.
Theoretical Contribution: This research is beneficial for the development of the banking business, especially for regional banks.
Research limitation and implication: This study has limitations, namely only examining promotion factors and service quality in influencing the intention to save. However, the results of this study provide information that promotion is a factor in forming interest in using banking products
Analisis Dampak Perdagangan Internasional Komoditas Crude Palm Oil (CPO) Terhadap Pertumbuhan Ekonomi di Indonesia
Get PDFIndonesia is a country that adheres to an open economic system with international trade as a driving force for economic growth. This study aims to analyze the impact of international trade on Crude Palm Oil (CPO) commodities, which consist of CPO exports, CPO production, exchange rates, inflation, and unemployment, on economic growth in Indonesia. The method used is multiple linear regression using the Ordinary Least Square (OLS) approach and the eviews 10 application. The data used is an annual time series from 1990–2021. The results of the study simultaneously show that the variables of CPO exports, CPO production, exchange rates, inflation, and unemployment have a joint effect on economic growth. While partially CPO exports have a significant positive effect on economic growth, CPO production, exchange rates and inflation have a negative and insignificant relationship to economic growth and unemployment has a significant negative effect on economic growth in Indonesia
The Effects of Economic Competitiveness, Economic Freedom, Financial Development and Gender Equality on International Trade in ASEAN Countries
Get PDFInternational trade plays a strategic position towards the success of the economic structure and is one of the crucial topics that can attract the attention of many countries, including ASEAN member states. This research study aims to explore, analyze and predict the effect of economic competitiveness, economic freedom, financial development, and gender equality on international trade in ASEAN countries. The study used panel-based secondary data with the Structural Least Squares analysis model. Research findings are known that economic competitiveness, economic freedom, financial development and gender equality are significantly able to increase the productivity of international trade in ASEAN countries. The results of the research can be used as evaluation and reference material for the government, business people and individuals in formulating regulations, policies, and taking steps to achieve economic goals
Navigating Uncertainty: The Role of Digital Assets
Get PDFThis research studies the dynamic connectedness among digital assets proxied by non-fungible tokens (NFTs), Islamic cryptocurrencies, and conventional cryptocurrencies with the US Economic Policy Uncertainty (EPU) and Geopolitical Risk (GPR) indices. We also examine the hedge and safe haven properties of the aforementioned digital assets against the uncertainties. Using wavelet coherence analysis from 19 January 2018 to 31 October 2023, we show that NFTs react heterogeneously to changes in uncertainties while cryptocurrency reacts inversely. NFTs and conventional cryptocurrencies can only act as diversifiers, but neither as a hedge nor a safe haven against uncertainties. However, Islamic cryptocurrencies have the potential to act as both a hedge and a safe haven against uncertainties. Our findings shed light on the role of emerging digital assets in formulating investment strategies and ensuring stability in the financial markets.
Originality/Value: Given the immense potential of digital assets, a remaining research gap concerns their interplay with uncertainty. In other words, given the presence of extreme market turmoil over recent years, no consensus is present in terms of highlighting the dynamic co-movement between digital assets such as NFT, Islamic cryptocurrencies, and global uncertainty factors. In addition to that, the lead-lag relationship among digital assets and uncertainties are also unknown till date. The current study fills this gap by providing robust evidence