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Comparative Analysis of Business Activities of Sharia Banks and Conventional Banks: Sharia and Modern Banking Perspectives
Full text linkThis article aims to explore the distinctions between Sharia Banks and Conventional Banks, along with their respective operations. Essentially, both types of banks serve as institutions that gather funds from the public in the form of savings and then redistribute these funds back to the community through loans or other means. For individuals concerned about bank interest, Sharia banking offers an alternative by implementing a profit-sharing model to calculate returns on funds, which is deemed permissible under Islamic law. The differences between Sharia Banks and Conventional Banks lie in their legal foundations: Sharia banking is governed by Islamic sharia, which is derived from the Quran, Hadith, and Ulema Fatwa (MUI), whereas conventional banks operate under the positive laws applicable in Indonesia, including civil and criminal law. These differences present unique advantages for both types of banks and their customers
Transformation of the Payment System Towards a Cashless Society: Definition, Benefits, and Challenges
Full text linkThe shift toward a cashless society has become a global trend, particularly in Indonesia, accelerated by the impact of the Covid-19 pandemic. Cashless payment systems offer numerous benefits, including convenience, efficiency, improved financial control, and support for digital economic growth. However, challenges such as low digital and financial literacy, cybersecurity risks, and the need for adequate technological infrastructure hinder their widespread adoption. This study employs a descriptive qualitative method through a literature review to explore the concept, development, types, benefits, and challenges of cashless payments in Indonesia. With improvements in digital literacy, regulation, and infrastructure, Indonesian society can transition more easily to a cashless payment system and become part of an inclusive and modern digital economy
Digital Waqf: transforming the Islamic economy in the Modern Era
Full text linkDigital waqf is an innovation in Islamic philanthropy leveraging modern technology to optimize waqf fund management. This study aims to explore the opportunities and challenges of digital waqf and its contribution to wealth redistribution and Islamic economic development. The research employs a literature review method, analyzing various studies on digital waqf and supporting technologies like blockchain. The results indicate that digital waqf enhances efficiency, transparency, and public participation, particularly through digital platforms. However, challenges such as low digital literacy, limited infrastructure, and inadequate regulations hinder the optimization of its potential. This study recommends improving digital literacy, establishing comprehensive regulations, and fostering collaboration among governments, Islamic financial institutions, and fintech to build an inclusive and sustainable digital waqf ecosystem
Marriage Dispensation in Modern Muslim Societies: A Study of Family Law in Indonesia and Morocco
Full text linkThe Islamic law in Indonesia and Morocco is based on different schools of thought, with Indonesia predominantly following the Shafi'i school, while Morocco adheres to the Maliki school. The differences in the schools of thought adopted by these two countries have implications for the age limits for marriage as stipulated in their respective Family Law. However, the disparity is not significantly vast, with only about one or two years of difference. Morocco, in determining the minimum age for marriage, closely aligns with Indonesia by referencing the Shafi'i and Hanbali schools. Morocco also requires the permission of a guardian if both prospective spouses are under 18 years old. This is somewhat similar to the practice in Indonesia, where marriages involving individuals below the legal age require a marriage dispensation granted by the court, obtained upon the request of the parents/guardians of the underage individuals, supported by compelling reasons and sufficient evidence
The Role of Sharia-Based Non-Bank Financial Institutions in Supporting Islamic Banking in Indonesia
Full text linkThe Islamic non-bank financial Industry (NBFI syariah) plays an important role in supporting the growth and strengthening of Islamic banking in Indonesia. The existence of NBFI syariah, such as Islamic insurance, Islamic financing, Islamic pension funds, and Islamic capital markets, is an integral part of the national Islamic financial ecosystem. This article aims to analyze the strategic contribution of NBFI syariah in supporting the development of Islamic banking through a descriptive-qualitative approach based on literature reviews and secondary data from the Financial Services Authority (OJK), Bank Indonesia, and other relevant institutions. The findings indicate that Islamic non-bank financial institutions expand the reach of Islamic financial services, enhance financial literacy and inclusion, and provide alternative financing and risk mitigation options in line with Islamic principles. Synergistic collaboration between Islamic banking and non-banking financial institutions is considered capable of strengthening the overall stability of the Islamic financial system. Therefore, strengthening regulations, improving institutional capacity, and product innovation are key to optimizing the role of Islamic non-bank financial institutions in promoting inclusive and sustainable Islamic banking growth in Indonesia
The Application of Sharia Promotion Strategies through Direct Marketing and Word of Mouth on Consumer Purchase Intentions: A Case Study of Myrooms Printing Pekanbaru
Full text linkThis study aims to analyze the promotional strategies implemented by Myrooms Printing Pekanbaru in increasing consumer purchasing interest through direct marketing and word of mouth marketing approaches based on sharia values. This study uses a qualitative descriptive approach with data collection techniques in the form of observation, interviews, and documentation. The results indicate that Myrooms Printing utilizes social media platforms such as WhatsApp and Instagram for online promotion, as well as direct approaches to consumers as part of offline promotion. Word-of-mouth marketing has proven to significantly contribute to increased customer loyalty and the attraction of new customers. From a sharia economics perspective, the promotional strategies implemented align with the principles of honesty, fairness, transparency, and avoiding excessive profit-taking. Affordable pricing strategies and good customer service also play a key role in increasing consumer purchasing interest. This study recommends that other micro-enterprises integrate Islamic values into their promotional practices to build sustainable and blessed businesses
The Influence Of Green Banking And Capital Adequacy Ratio On Profit Growth Of Commercial Banks In Indonesia (A Study on Commercial Banks Listed on the Indonesia Stock Exchange in 2021-2023)
Full text linkThis study aims to analyze the effect of Green Banking and the Capital Adequacy Ratio on the profit growth of commercial banks in Indonesia. The sample in this study consists of 35 commercial banks listed on the Indonesia Stock Exchange (IDX) during the 2021-2023 period. The data analysis technique used is multiple linear regression with the assistance of EViews software. The results show that Green Banking, measured using the green rating coin indicator, does not have a negative effect on the profit growth of commercial banks. Meanwhile, the Capital Adequacy Ratio (CAR) also does not affect profit growth. Simultaneously, Green Banking and CAR influence the profit growth of commercial banks in Indonesia. The R-Square value in this study is 0.46, indicating that the Green Banking and CAR variables collectively explain 46% of profit growth, while the remaining 54% is influenced by other variables not examined in this study
Analysis of Financial Performance Before and After the Implementation of PSAK 73 on Leases in Transportation and Logistics Companies Listed on the Indonesia Stock Exchange from 2017 to 2022
Full text linkPSAK 73 is the latest accounting standard related to lease accounting adopted from IFRS 16. The implementation of PSAK 73 will become effective in 2020. The classification of finance leases is a type of lease that is permitted in PSAK 73 where the recognition, measurement, presentation and disclosure of right-of-use assets becomes more detailed in financial position reports. This research aims to analyze the impact of implementing PSAK 73 on rent on financial performance as seen by financial ratios. This research uses transportation and logistics sector companies as the research population. The sample selection method used a purposive sampling method and the companies that met the sample criteria were 15 companies. The analytical method used in this research is ratio analysis and statistical analysis using SPSS 23. The results of this research show that there is no significant difference in solvency ratios and profitability ratios between before and after the implementation of PSAK 73 on rents in listed transportation and logistics sector companies on the Indonesian Stock Exchange in 2017-2022
The Effect of Accounting Understanding, Education Level, Business Length and Business Size on the Application of Financial Accounting Standards for Micro, Small and Medium Entities (SAK EMKM) on MSMEs in Binawidya District, Pekanbaru City
Full text linkThis study aims to see how far the influence of understanding accounting, understanding of accounting, level of education, length of business and business size on the application of SAK EMKM to MSMEs in Binawidya District, Pekanbaru City. This study uses quantitative methodology with primary data collection obtained from respondents through questionnaires. The population in this study is all MSME actors in Binawidya District. iSample research method using Purposive Sampling method, The sample in this study is iMSME business actors as many as i 255 businesses. By using PLS and SmartPLS 4.0.9.6, analyze the relationship between dependent and independent variables. The findings of this study show that accounting understanding, education level, length of business and business size have a significant effect on the application of SAK EMKM to MSMEs in Binawidya District, Pekanbaru City
Gharar In Digital Economic Transactions: A Qualitative Analysis of E-Commerce Practices
Full text linkThe development of digital technology has changed e-commerce transactions, where uncertainty in transactions has become an important issue in Islamic economics. This research aims to analyze the form of gharar in e-commerce and find solutions based on sharia principles. The method used is a literature study with a descriptive approach, and data is collected from secondary sources such as books and journals. The research results show that gharar often appears in the form of unclear product descriptions, non-conformity of goods, and non-transparent return policies, which have a negative impact on consumer trust. The recommended solution is to increase information transparency and improve return policies on e-commerce platforms. Technology such as blockchain can be a solution to reduce gharar and create a fair e-commerce ecosystem according to sharia principles