UIN (Universitas Islam Negeri) Sunan Kalijaga, Yogyakarta: E-Journal Fakultas Ekonomi dan Bisnis Islam
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Building a Halal Ecosystem Through Sharia Business Education and MSME Mentoring
No full textThe concepts of halal and thayyib serve as fundamental pillars of Islamic-based business, encompassing not only the products consumed but also the entire underlying business process. Micro, Small, and Medium Enterprises (MSMEs) located around the Faculty of Business and Economics (FBE), Universitas Islam Indonesia (UII), particularly in Dero Hamlet, Ngringin, demonstrate considerable potential for developing Sharia-compliant business practices. However, limited knowledge regarding the concepts of halal, Islamic business management, and the halal certification process remains a major constraint. This community service program was designed to enhance literacy and practical implementation of halal business principles through the Sharia Business School for MSMEs, which integrates educational sessions, training activities, and halal certification assistance. The methodology comprised three main stages: assessment, training, and evaluation. The results indicate an improvement in participants’ understanding of the Islamic business cycle and a heightened awareness of the importance of halal certification. This initiative is expected to serve as a sustainable model for community empowerment, contributing to the establishment of a Halalan Thayyiban business ecosystem within the FBE UII environment
Sustainable Wealth: Attracting Foregin Direct Investment through Environmental Regulations in OIC Countries
No full textThis study examines the ongoing discourse on whether environmental regulations serve as a barrier or an incentive for foreign direct investment (FDI). The literature presents a divided perspective, with previous studies producing inconsistent findings that have led to ambiguity in empirical evidence. Such disparities often arise from variations in datasets and methodologies employed in earlier research. To resolve these inconsistencies, this research provides a comprehensive empirical assessment of the presumed negative impact of strict environmental policies on FDI in Organization of Islamic Cooperation (OIC) member states. Using a panel dataset comprising 32 OIC countries over the period 2010–2020, the study investigates this intricate relationship. The results, which counter the "pollution haven" hypothesis, indicate that stringent environmental regulations can, in fact, promote FDI inflows. The robustness of these findings is reinforced by their consistency across multiple methodological approaches
Transparency, Accountability, and Customer Trust in Islamic Banking: A Panel Data Analysis from Selected OIC Countries
No full textThis study examines how transparency and accountability shape customer trust in Islamic banking across selected OIC countries. Using panel data from 2010–2023, the analysis captures cross-country and time variations to reflect differences in institutional settings and developments over time. Governance and performance metrics are employed to represent transparency and accountability, while customer trust is proxied by deposit-related indicators. Applying fixed effects and system GMM estimations, the findings reveal a coherent pattern: transparency plays a dominant role in strengthening customer trust, as clear disclosure and accessible information directly reduce information asymmetry and enhance perceived Shariah credibility. Accountability also contributes positively, but its impact is comparatively weaker, reflecting the more indirect and internally oriented nature of accountability mechanisms. Importantly, transparency and accountability reinforce each other, indicating that trust is most effectively built when open communication is supported by robust governance structures. These results extend the Islamic finance literature by highlighting governance as a key driver of non-financial outcomes. Policy implications suggest the need for harmonized governance frameworks across OIC countries, with particular emphasis on strengthening transparency as a foundation for sustainable trust in Islamic banking
Determinants of Islamic Banking Profitability: A Cross-Country Panel Analysis from IFSB Data (2016-2024)
No full textBackground: Islamic banking plays a crucial role in promoting financial inclusion and economic stability across member countries of the Islamic Financial Services Board (IFSB). However, the variability in profitability across nations raises questions regarding which internal financial factors most strongly influence performance at the industry level.
Objectives: This study aims to analyze the influence of CAR, NPF, CIR, and LR on the ROA of Islamic banking industries across twelve IFSB member countries during 2016-2024.
Novelty: This study provides a cross-country industry-level analysis of Islamic banking profitability, revealing that efficiency and credit risk management are stronger determinants of performance than capital strength.
Research Methodology / Design: This research employs panel data regression using secondary data from IFSB. The sample includes 12 countries with consistent financial reporting from 2016–2024.
Findings: The results reveal that NPF and CIR have significant negative effects on profitability, while LR has a significant positive effect. CAR shows a positive but statistically insignificant relationship.
Implication: Theoretically, the study reinforces the efficiency and risk management theories within Islamic financial systems. Practically, regulators should prioritize policies enhancing operational efficiency and credit risk governance, while banks should optimize liquidity without compromising profitability sustainability
The Moderating Role of Profitability in The Relationship Liquidity and Leverage on Financial Distress in Islamic Banking
No full textThe purpose of this study is to examine the role of profitability in moderating the relationship between liquidity and leverage on financial distress in Islamic banking. This study uses a quantitative descriptive approach, and the panel data analysis method is implemented using E-views 12. The sample Islamic banking companies listed on The Financial Services Authority (OJK) for a period of four years, namely the 2021-2024 period. The sampling technique employs purposive sampling to collect company data that matches the specified criteria. The results showed that the liquidity ratio does not have a significant effect on financial distress, while leverage has a significant effect on financial distress. Profitability is unable to moderate the relationship between the liquidity ratio and financial distress, but profitability is able to moderate the relationship between leverage and financial distress. The implications of this study help to understand the development and performance of the companies studied and can be used as input and consideration for companies in taking steps to prevent bankruptcy
Artificial Intelligence Adoption and Financial Stability under Geopolitical Pressure: Evidence from Indonesia’s Digital Banking Sector
No full textResearch Aims: This study investigates how Artificial Intelligence (AI) adoption and Geopolitical Risk Index (GPR) influence the financial stability of Indonesia’s digital banking sector, focusing on profitability (ROA) and credit risk (NPL).
Design/methodology/approach: Using annual panel data from 2021–2024 and employing regression and scenario-based simulations to evaluates both structural effects and conditional responses to varying GPR levels.
Research Findings: The findings reveal that higher AI adoption generally enhances profitability and reduces credit risk under low to moderate geopolitical risk. However, AI’s influence remains statistically insignificant, while GPR significantly decreases NPL, indicating conservative lending behaviorduring uncertainty. Operational efficiency and capital adequacy are identified as key internal factors influencing profitability.
Theoretical Contribution/Originality: This study contributes to the understanding of digital banking resilience by integrating econometric and simulation techniques, providing policy insights that emphasize adaptive credit risk frameworks, AI-driven risk management, and capital buffer adjustments amid geopolitical volatility.
Research limitation and implication: These findings imply that digital banks should prioritize strengthening operational efficiency and capital buffers, while leveraging AI adoption and GPR monitoring as supportive tools to mitigate potential pressures on profitability and credit quality.
This research model can be recalibrated using GPR data to predict NPL spikes and ROA decline
Generation Z’s Investment Interest In Indonesia’s Blockchain-Based Green Sukuk
No full textBackground: As sustainable finance gains prominence, blockchain technology has emerged as an innovative tool to enhance transparency, efficiency, and trust in Islamic capital markets. Blockchain-based Green Sukuk is one of the applications in finance and has the potential to attract investment interest from Generation Z, a demographic characterized by a strong openness to innovation.
Objectives: This study aims to examines the determinants of Generation Z’s investment interest in Indonesia’s blockchain-based Green Sukuk.
Novelty: This study addresses the relationships between digital financial literacy, Islamic fintech, and Generation Z’s investment interest in blockchain-based green sukuk.
Research Methodology / Design: This research adopts a quantitative approach, collecting survey data from Generation Z respondents with knowledge or experience in digital financial services. The study focuses on two main predictors: digital financial literacy and Islamic fintech adoption.
Findings: Findings reveal that higher digital financial literacy significantly increases the likelihood of investing in blockchain-based Green Sukuk, as it equips young investors with the ability to assess risks, understand product features, and navigate digital investment platforms. Furthermore, Islamic fintech serves as an enabler by providing Sharia-compliant, user-friendly, and accessible channels for sustainable investment products. The integration of blockchain in Green Sukuk issuance is found to strengthen investor confidence by ensuring accountability and traceability of funds toward environmentally beneficial projects.
Implication: The results offer practical implications for policymakers, Islamic financial institutions, and fintech providers seeking to engage younger generations in sustainable Islamic finance. By combining sustainability goals, Sharia compliance, and emerging technology, this study contributes to bridging the gap between environmental objectives and the evolving investment preferences of Generation Z in Indonesia
Does Islamic Social Reporting Enhance the Profitability of Islamic Banks? Evidence from Selected OIC Countries
No full textBackground: Awareness of social responsibility within Islamic banking has grown rapidly in recent years, driven by increasing expectations for Islamic financial institutions to fulfill not only financial but also social and environmental obligations. This evolution reflects the growing importance of legitimacy and trust among stakeholders. Countries with a majority Muslim population, such as Indonesia, Malaysia, and the Gulf states, are expected to lead in implementing Islamic-based social responsibility practices and transparent reporting through Islamic Social Reporting (ISR)
Objectives: This research aims to examine the impact of Islamic Social Reporting (ISR) disclosure on the profitability of Islamic banks in selected Organization of Islamic Cooperation (OIC) member countries.
Novelty: The novelty of the study lies in its cross-country comparative analysis of ISR practices among Islamic banks within OIC member nations. While prior studies have explored the relationship between ISR and financial performance, limited research has examined how cultural, regulatory, and institutional contexts across Islamic economies shape this relationship. This study contributes to the literature by providing empirical evidence on how ISR may entail short-term trade-offs with profitability but serve as a foundation for long-term sustainability and ethical accountability.
Research Methodology / Design: A quantitative research approach was employed using secondary data derived from the financial statements and sustainability reports of Islamic banks from 2021 to 2024. Data analysis involved classical assumption testing, simple linear regression to test the relationship between ISR and profitability (ROA, ROE), and one-way ANOVA to identify cross-country differences. Statistical analysis was performed using SPSS software.
Findings: The findings reveal that ISR disclosure has a significant negative influence on Islamic banks’ profitability as measured by both ROA and ROE. Additionally, ISR disclosure levels vary significantly across countries, with Indonesia demonstrating higher levels compared to Malaysia and the Gulf states. These results indicate that while ISR strengthens ethical accountability and transparency, its financial benefits are not immediate but may accumulate over time.
Implication: The study implies that Islamic banks must strategically balance their social and financial objectives. Theoretically, the findings support the legitimacy theory and stakeholder theory by emphasizing that socially responsible behavior enhances institutional credibility. Practically, policymakers and banking regulators should encourage standardized ISR frameworks to ensure that social responsibility reporting contributes not only to ethical governance but also to sustainable financial performance in the long term
Penerapan Metode Analytic Hierarchy Process (AHP) dalam Pemilihan Metode Pembayaran e-Wallet di Yogyakarta
Full text linkPerkembangan teknologi digital yang pesat telah mengubah pola transaksi masyarakat, termasuk meningkatnya penggunaan dompet digital (e-wallet). Beragam pilihan layanan e-wallet seperti OVO, ShopeePay, GoPay, dan Dana sering kali menyebabkan pengguna kesulitan dalam menentukan platform yang paling sesuai dengan kebutuhan mereka. Penelitian ini bertujuan untuk menerapkan metode Analytic Hierarchy Process (AHP) dalam membantu pengambilan keputusan pemilihan e-wallet terbaik di Yogyakarta berdasarkan empat kriteria utama: keamanan, biaya, kemudahan penggunaan, dan kecepatan transaksi. Data dikumpulkan melalui penyebaran kuesioner kepada pengguna e-wallet di wilayah Yogyakarta dan dianalisis secara kuantitatif. Hasil penelitian menunjukkan bahwa keamanan merupakan kriteria yang paling dominan. Dari hasil perhitungan akhir, OVO menjadi alternatif terbaik dengan bobot 36%, diikuti oleh ShopeePay (31%), GoPay (18%), dan Dana (14%)
Macroeconomic Influence on Zakat Growth in 34 Indonesian Provinces
Full text linkThis study aims to evaluate the effect of macroeconomic variables on zakat growth in Indonesia using the Random Effect Model (REM). The data used is panel data from 2019-2023. The variables analyzed include Gross Regional Income (GRDP) per capita, Regency/City Minimum Wage (MSW), percentage of Muslim population, and Covid-19 pandemic. The regression results show that GRDP per capita and UMK do not have significant influence on zakat growth, with p-value greater than 0.05. In contrast, the percentage of Muslim population has a significant influence on zakat growth, with p-value <0.05, which indicates that the higher the percentage of Muslim population, the greater the potential for zakat growth. In addition, the condition of the Covid-19 pandemic does not show a significant influence on zakat revenue. This study found that demographic factors, especially the proportion of Muslim population, have more influence on zakat collection than economic indicators such as GRDP per capita and UMK. The findings of this study can be used to evaluate the performance of zakat collection by zakat management organizations in Indonesia and by policymakers in order to improve the realization of zakat collection more optimally