AL-MUZARA'AH
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Strategi Pengembangan Bank Pembiayaan Rakyat Syariah di Indonesia
Full text linkThe business growth of Islamic rural Bank (BPRS) in Indonesia is higher than conventional rural bank, meanwhile it has the lower market share. One of the reasons could be the intense competition faced by Islamic rural banks with another islamic finance institution such as baitul maal wat tamwil (BMT) and islamic commercial banks which have also penetrated into the MSME segment. It makes islamic rural banks are often called having middle child syndrome, which have no speciality in facing the markets. This study aims to identify the strategy to develop and deep the market of islamic rural banks in Indonesia. This study was conducted using primary data through interview and focus group discussion (FGD) and SWOT. The methods used are business model canvass (BMC) and SWOT. The results of this study identified five key factors that play an important role in the development of the BPRS industry, namely 1) capital factor, 2) human resource (HR) factor, 3) information technology infrastructure factor, 4) business model, and 5) regulatory aspect
Determinan Pola Konsumsi Dharuriyyah, Hajiyyah dan Tahsiniyyah (Studi Kasus Pengguna Marketplace di Kota Malang)
Full text linkThe advancement of technology in the era of digitalization offers convenience to consumers for quick and easy shopping through digital platforms such as marketplaces. Marketplaces provide various products and services, ranging from basic needs to luxury items. This convenience creates new opportunities and challenges in understanding consumer behavior, especially in terms of how a consumer\u27s consumption patterns correspond with Islamic values in the context of meeting their needs. This research aims to analyze the determinants or factors influencing the consumption patterns of a Muslim consumer in meeting various levels of needs, such as financial literacy, hedonic motivation, technological proficiency, and price discounts. A case study was conducted on marketplace users in Malang City using a quantitative method and multiple linear regression analysis. The research results indicate that a consumer\u27s financial literacy and technological proficiency, as well as the presence of price discounts, have an effect on their consumption patterns at the dharuriyyah, hajiyyah, and tahsiniyyah levels of need. However, hedonic motivation does not affect consumption patterns at all levels of needs. By understanding the effect of these factors on consumption patterns, this research offers valuable insights into how consumers perceive and prioritize their various needs in the ever-evolving digital environment
Sustainability Disclosures and Financial Performance of Islamic Banks in Indonesia
Full text linkSustainability practices and disclosures of Islamic banking in Indonesia are still very low. Currently, the disclosure of sustainability reports has been required by the Financial Services Authority (OJK). This paper measures the level of sustainability disclosures (economic, social, and environmental) based on OJK Regulation No. 51/2017 and investigates its impact on the financial performance of Islamic banks in Indonesia. The study was conducted in Islamic banks during 2018-2020 with a total sample of 12 banks obtained through purposive sampling. The results show that there is no significant effect of the sustainability disclosure dimensions on ROA. On the other hand, there is a significant effect of the sustainability disclosure dimensions on ROE and EPS. These results encourage Islamic banks to consistently issue a sustainability report. In the long term, the sustainability disclosure is expected to have a positive impact on the growth of Islamic banks in Indonesia
Is Islamic Economy as that Green?
Full text linkEconomic growth is widely associated with degradation of environmental quality. Green economy is a term that later emerged to save the environment. In Islamic point of view, the environment and the economy are two things that must support each other. This study discusses Islamic economics that should be associated with sustainability, as in line with the teachings of Islam to coexist with the environment. The method used are correlation analysis and panel data regression to find out the association between Islamic economics and green growth in major Islamic economic countries. The results show that the Global Islamic Economy Indicator (GIEI) is positively correlated to the Green Growth Index (GGI). Based on the panel data regression model, Muslim Modest Fashion sector significantly has a positive effect on GGI. Unfortunately, in general, the GGI achievements of the OIC countries are still very lacking compared to non-OIC countries. It is the government\u27s duty to start implementing environmentally oriented policies in all sectors of the Islamic economy inclusively
Domestic and International Macroeconomic Variables on Indonesian Sharia Stock Index with Vector Error Correction Model Approach
Full text linkThe fluctuating movement of the Indonesian Sharia Stock Index (ISSI) is thought to be caused by domestic and international macroeconomic factors. Previous research revealed inconsistent results regarding the factors that influence ISSI price movements with the research time horizon generally in the short to medium term. This study aims to analyze and see the magnitude of the influence of domestic and international macroeconomic variables on ISSI. This study uses the Vector Error Correction Model (VECM) method with monthly time series data from May 2011 to July 2022. The results of the study show that in the long-term, inflation, amount of money supply, world oil price, and Dow Jones Islamic Market US have a significant effect on ISSI. In the short term, only world gold price has a significant effect on ISSI. BI repo rate and exchange rate did not significantly affect ISSI in the short and long term. The Indonesian Sharia Stock Index reaches stability the fastest when it responds to shocks in gold prices. This study recommends the promotion of ISSI and Islamic finance, careful consideration in investment decisions by companies and investors, and the need for an early warning system in the Islamic capital market to anticipate the financial crisis
Peran Zakat terhadap Proses Perubahan Sosial melalui Pemberdayaan Masyarakat: Studi Narrative dan Bibliometrics
Full text linkThis paper presents an analysis of the development of literature on community empowerment through zakat and its relation to social change. A total of 29 documents published between 2016 and 2023 were analyzed using a narrative review approach and bibliometric analysis with the assistance of the RStudio application. Concept mapping and visualization of publications were conducted to identify elements of knowledge, dynamics, relationships, and interactions among publications. The analysis results show that research during the 2016-2023 period generally focuses on the economic aspect of zakat in social change. However, further research is needed to cover other dimensions of social change, such as politics, culture, technology, and environment. Consequently, the study of the impact of zakat on social change needs to be expanded to provide a more comprehensive understanding of the role of zakat in promoting inclusive and sustainable social change within society
Strategy for Developing the Concept of Halal Beach Tourism in Gunung Kidul Regency, Yogyakarta
Full text linkOne sector that is currently being featured in Indonesia is the development of tourism including halal tourism. The concept of halal is trending ranging from culinary, fashion, cosmetics and even the tourism sector. Gunung Kidul Regency of Yogyakarta has the largest beach tourism area and has the potential to be developed into halal beach tourism. However, appropriate strategy for the development of halal beach tourism in Gunung Kidul Regency is still lacking. Study on the topic on the halal beach tourism is also still limited. This study aims to analyze the strategy for developing the potential of halal beach tourism in Gunung Kidul Regency using the Analytic Hierarchy Process (AHP) method and the Strengths, Weaknesses, Opportunities, and Threats (SWOT) approach. The results of this study show that strength is a top priority in developing halal beach tourism in Gunung Kidul Regency. The strategy priorities are: a) improvement of facilities such as prayer facilities and supporting facilities with the concept of halal beach tourism, b) expanding cooperation with various parties and synergies between beaches, c) improving the quality of human resources through training activities and introducing the concept of halal beach tourism, d) designing an integrated promotion and marketing strategy, and e) improvement of services and providing tour guides for tourists. This research implicates for the establishment of a halal certification policy for entrepreneurs as well as promoting clear regulations on halal beach tourism, especially in Gunung Kidul Regency
Contribution of Zubair Hasan to Islamic Economics
Full text linkIslamic economics has been growing immensely for almost four decades since the First International Conference on Islamic economics held in Makkah in February 1976. Many improvements on developing Islamic economics as an independent discipline have been done by many scholars. One of the most prominent contemporary scholars who have made some significant work in building Islamic economics by combining the existing modern economics with Islamic teaching is Zubair Hasan. Therefore, the main objective of the study is to provide a summary and analysis of Hasan’s economic thought on Islamic economics. The study is based on secondary data, taken from some books, articles, and journal that Hasan has produced. This study uses a descriptive analysis and employs an inductive approach in tracking and collecting materials and references written by Zubair Hasan from 1975 to 2014. The analytical approach was used to identify Hasan’s thought on several topics in the area of Islamic economics. The study suggests Hasan views on Islamic economics are comprehensive and cover almost all aspects that Islamic economics needs to explain. This includes underlying assumptions, scope of objectives, the role of state and individual, institutional frameworks, distribution, and profit in Islam. His analysis is basically a critical integration between modern economics with Islamic heritage
Strategi Pemasaran Program Wakaf Yayasan Hutan Wakaf Bogor
Full text linkThe high rate of deforestation makes the forest waqf program attractive to be developed as a support for the reforestation program. The research will identify variables that can influence waqf decision-making. Data collection used a research questionnaire with a sample of 100 people using Judgment Sampling. The analytical tool used in this research is Structural Equation Modeling (SEM) with Partial Least Square (PLS) approach. The results showed that registered buyers of forest waqf products at the Bogor Waqf Forest Foundation were dominated by millennials with single status and incomes between IDR 1,000,000 – IDR 2,000,000. Brand and customer trust affect the marketing effectiveness of trust in forest waqf products. The priorities for the marketing strategy for forest waqf products include strengthening brand image, increasing consumer confidence, conducting social activities, maintaining communication with consumers, and conducting regular data analysis and evaluation
Marketing Mix Strategy in Waqf Online Fundraising Platform: An Importance-Performance Analysis
Full text linkAs an Islamic social finance practice, waqf has a considerable potential to develop community following maqashid sharia and SDGs. At IPB University, one of few universities with authority as a nazir, the implementation of waqf from ‘civa to civa’ on campus has huge benefits for the development of their surrounding without having to rely on government funding. This study, using Islamic Economics students as its respondent, tries to formulate a marketing strategy for waqf online fundraising platform employing an Importance Performance Analysis. Results show that there is still a noticeable gap between the potential and realized the value of waqf in this platform and demography, indicating that the performance has yet to reach the select value from respondents. Three attributes of the marketing mix in IPB’s online waqf platform that needed the most attention: social media promotion, mass media promotion, and integration with other fundraising platforms