As being known, financial literacy by definition, is knowledge, skills, and beliefs in which in many references influence attitudes and behavior of an individual to improve the quality of decisionmaking and financial management in order to achieve welfare.  In Islamic financial literacy, welfare is falah. This study aims to determine the determinants of Islamic financial literacy levels in 391 productive age Muslim women in Jabodetabek. Methods of data analysis in this research using purposive sampling method and using SEM-PLS analysis. The results showed that of the four variables studied, the financial knowledge variable had no significant influence on Islamic financial literacy. While three other variables (financial attitude, financial behavior and religiosity) show significant influence to Islamic financial literacy

This study aims to analyze factors that affect economic growth in OIC member countries by using neo-classical model of economic growth and economic growth of Ibn Khaldun. The model consists of five variables, namely: labor, capital accumulation, agriculture, trade, and inflation. This study was using regression analysis of panel data with the object 20 OIC member countries (Afghanistan, Bangladesh, Mozambique, Togo, Uzbekistan, Indonesia, Nigeria, Pakistan, Tunisia, Jordan, Kazakhstan, Lebanon, Malaysia, Algeria, Turkey, Brunei, Kuwait, Oman, Arabia, and United Arab Emirates), from 2009 to 2013. The results showed that four of the five variables used to significantly affect the economic growth in OIC countries is variable labor, capital accumulation, agriculture, and trade, while inflation variable has no significant effect. From this study it can be concluded that not all the variables significantly influence economic growth in OIC countries. 
 

This research addresses a specific issue within halal marketing, emphasizing its novelty. Despite widespread recognition in marketing literature of the roles played by various halal components and strategies in influencing consumer purchase intentions, there is a distinct research gap in the lack of studies focusing on specific categories. This study aims to fill that gap by examining the relationship between halal awareness, certification, and other marketing elements in shaping the halal purchase intentions of Mixue consumers in Indonesia. Structural equation model analysis of data from 156 Mixue consumers revealed positive correlations between halal awareness, certification, and brand with purchase intentions, while food quality and promotion showed negative and non-significant relationships. Theoretically, the research strives to advance a conceptual model of halal purchase intentions by integrating halal components with marketing elements, contributing to marketing literature with a specific focus on Mixue and its consumers in Indonesia. The practical implications involve a deeper understanding of factors influencing halal product purchase intentions, aiding marketing decision-making and business strategies in this rapidly growing market.

Digital technological developments have advanced in almost every area of life, including travel, purchasing, donations, tourism, and other digital-based economic activities. As part of the expansion of the payment system, Bank Indonesia introduced the Quick Response Code Indonesian Standard (QRIS). To facilitate the transaction process, QRIS combines several QR codes from different payment system service providers. This research aims to see how the exogenous variables of convenience, benefits and security influence the endogenous variables of the decision to use Qris Bsi Mobile. This type of research is descriptive quantitative with a SEM-PLS approach. the application used by Smart Pls version 3.0. The sample data used was 100 respondents. The results show that the convenience variable has a positive but not significant effect on the decision to use Qris Bsi Mobile with a P-value of 0.329. Furthermore, the benefit and security variables have a positive and significant influence on the decision to use Qris Bsi Mobile with a P-value for the benefit variable of 0.001 and the security variable of 0.004. It is hoped that future researchers will use other variables that have a significant influence to improve the results of further research.

Sustainable financing is one of the international issues that has been widely discussed due to the issue of climate change. Green sukuk is one of the sustainable financing instruments that are sharia-compliant. However, companies in Indonesia have not shown interest in issuing corporate green sukuk. Various problems and challenges faced by the company to be able to issue corporate green sukuk. The purpose of this study is to know the problem of issuing corporate green sukuk in Indonesia and the best solutions that can be used. The research method used is Analytic Network Process (ANP). In this study, respondents came from experts of corporate green sukuk problems. Total respondents of this research were 5 peoples who came from academia, company actors and regulators. The results show that the main problem in issuing corporate green sukuk is the lack of understanding from market participants. Meanwhile, in terms of solutions, the incentive provided by the government is the main solution to encourage the issuance of corporate green sukuk.

This study investigates the role of Shariah investment in Indonesia's inclusive growth. Shariah investment is measured in terms of Shariah stocks and sukuk. As determinants of inclusive growth, the study also includes several control variables adopted from separate literature, including the effect of COVID-19. In contrast to previous research, testing is conducted using a variety of inclusive growth metrics. Using principal component analysis (PCA) to compute the composite index of inclusive growth and time series regression models with monthly data at the national level from 2011 to 2022, this study finds three main conclusions. Evidence shows that Shariah investment contributes to inclusive growth in Indonesia, but the effects vary. Shariah stocks significantly affect poverty and unemployment, whereas Sukuk affects poverty and inequality. Both contributed to improving the Human Development Index (HDI) and inclusive growth. This study also revealed that COVID-19 was instrumental in reducing Indonesia's inclusive growth performance. This study complements prior empirical research on inclusive growth issues in Indonesia by examining the role of Islamic economics and finance. This research contributes to future policy initiatives to strengthen Indonesia's inclusive growth

The research is aim to attest and assess empirically the contribution of Islamic banking (IBs) on the inclusive growth in Indonesia. By taking a trial-stage method i.e. descriptive analysis to elaborate a statistical data, autoregressive distributed lag (ARDL) model to assess empirically the contribution in a long-term, and error correction model (ECM) to assess the contribution in a short-term empirically. The findings are, total deposits and total financing only contribute positively significant into GDP and gini ratio in a long-term, that similiar with the previous study. Then, a total financing contribute negatively to all indicators of inclusive growth in a long-term, but, its only significance on GDP and gini ratio. But, it was contribute significantly to all indicators in a short-term. So. The findings was only evidence the significance contribution of IBs on inclusive growth in a short-term. Based on it, a long-term contribution of IBs still cathegorized as the area that requires an extentions in order to accomplish it.  

This study aims to examine the role of Shariah investment in inclusive growth in Indonesia. Shariah investment is measured through Shariah stocks and Sukuk. The study also adds several control variables adopted from separate literature, including the effect of the Covid-19 pandemic, as determinants of inclusive growth. Unlike previous studies, testing is employed using several different measurements of inclusive growth. Using principal component analysis (PCA) to measure the composite index of inclusive growth and time series regression models with monthly data at the national level throughout 2011-2022, this study produces several main findings. There is evidence that Shariah investment plays a role in inclusive growth in Indonesia, although the results are quite varied. Shariah stocks were found to play a significant role in reducing poverty and unemployment, while Sukuk played a role in reducing poverty and inequality. At the same time, both were able to promote the strengthening of the Human Development Index (HDI) and overall quality of inclusive growth. This study also found that the Covid-19 pandemic was significant in suppressing the performance of inclusive growth in Indonesia.

Methods and techniques adopted in teaching, training, learning, research, professional development, or capacity building are generally standardized across most traditional disciplines, particularly within developing countries. This is not the case, however, when it comes to the Islamic disciplines, and, in particular, in relation to the study of Islamic economics and finance, which is influenced by conventional standards and techniques. This is primarily due to the lack of availability of the requisite standards and mechanisms designed within the spirit of Maqsid al-Shari’ah. This book offers a unique resource and a comprehensive overview of the contemporary methods and smart techniques available for teaching, learning, and researching Islamic eco-finance, and it presents solutions to the challenges in implementing them. Further, the book gives deep insight into the most appropriate methodologies that could be employed empirically to explore, model, analyze, and evaluate Islamic finance theories and models, respectively. It also gives recommendations for improving learning, teaching, and research outcomes in Islamic eco-finance. The book also addresses how, in this advanced technological era, smart tools like artificial intelligence, machine learning, big data, Zoom, and the internet of things can be adapted to help equip students, researchers, and scholars with smart skills. The book will enable those studying Islamic economics and finance to grasp the appropriate tools for research and learning. Additionally, the Islamic economics and finance sector is growing at a significant rate and therefore requires the upskilling and capacity building of its human resources; thus, the book will also be highly beneficial for practitioners involved in the industry.

The multidimensional poverty is one of the big problems faced by some countries. It is a condition of an individual that had a low income, low education and low health care. Then, Amartya Sen and Mahbub Ulhaq had offered a new measure on Development namely Human Development Index (HDI). As in Islam, the development had arranged from the approach of Maqāṣid Syarῑ’ah and Al-Ghazali (1111 H) was the first Muslim intellectual who had Developed the thesis and had divided maqasid into three aspects, ḍaruriyyah, ḥajiyah, taḥsiniyyah. Furthermore, ḍaruriyyah consist of five basic elements namely Ḥifẓ Dῑn (Religion), Ḥifẓ Nafs (Life), Ḥifẓ ‘Aql (Intellectual), Ḥifẓ Nasl (Progeny), Ḥifẓ Māl (Wealth). Therefore the aim of the study was to search how the Maqāṣid Syarῑ’ah contributed to Human development theory and what were the factors of HDI of Maqāṣid Syarῑ’ah of Al-Ghazali approach. The Study selected 37 OIC Countries for eight years by using Data panel regression. The Study Showed that Ḥifẓ ‘Aql (Intellectual) and Ḥifẓ Māl (Wealth) has significant impat on HDI. On the other hand, Ḥifẓ Nafs (Life) Ḥifẓ Nasl (Progeny) have significant impact on HDI. This may due to the quality of Human Resources and Bureaucracy in Some OIC Countries. Meanwhile, the theory of Maqāṣid Syarῑ’ah had been developed well into Human Development but still had a lot of points to be evaluated.

Objectives: Human Development Index (HDI) has multidimensional aspects of life. In fact, HDI measures only physical aspects that are needed by human such as education, health and wealth. Accordingly, discussing on human must cover material, physical and spiritual aspects. Maqāṣid is needed as a wasilah (medium) to promote the benefit of human (maslahat), which contains of daruriyyat, hajiyat and tahsiniyat. By then, this study aims to analyze maqāṣid based development variables of Umer Chapra perspective on economic growth in 9 selected OIC member countries.

Method: The methodology of the study used mixed methods: qualitative and quantitative. The quantitative applies panel data regression analysis with 9 selected OIC countries (Indonesia, Jordan, Kazakhstan, Kyrgyzstan, Mesir, Pakistan, Togo, Turkey and Uzbekistan) with time series from 2004 to 2013. For qualitative applies content analysis approach by using tafsir of Ibnu Katsir.

Results: The finding shows that all independent variables, which are literacy rate, enrollment of school, poverty rate, gini index, life expectancy at birth, rule of law and voice accountability have significant effect on economic growth in 9 selected OIC member countries, both simultaneously and individually.

Conclusion: This study concludes that HDI which is bounded by maqāṣid approach affects on increasing of economic growth in 9 of OIC member countries significantly.

This current paper examined the determinant of the poverty in the OIC countries. Our empirical model was based on IbnKhaldun development model that emphasizes several aspects, namely: the country's wealth (proxied by GDP per capita), the role of government (proxied by health and education expenditures), human resources (proxied by HDI), sharia (proxied by corruption perception index), development (proxied by investment), and justice (proxied by Gini index). We used panel data model consisting nine OIC countries over 2003-2012. This study verified that GDP per capita significantly contribute to the reduction of poverty in the OIC countries. We also found that unemployment (as a control variable) encountered a role in triggering poverty in OIC countries. Meanwhile, it found that education expenditure, Gini index, HDI, and Corruption Perception Index found no significant effect on poverty.

Purpose

The purpose of this paper is to investigate the relationships between expenditure inequality and expenditure polarization in Indonesia during the post-reformation era in 2002–2012. It also explores the various dimensions of regional groups; and finds out in which dimension did the expenditure inequality and polarization occur in Indonesia during the period.

Design/methodology/approach

Gini index was employed to measure expenditure inequality and a number of developed polarization measurement was applied to investigate the linkage between inequality and polarization at national levels. It also applied a polarization index based on inequality decomposition to investigate how the polarization occurs in the regional dimension. It covered several groups of regional dimensions; those are rural and urban areas; eastern and western regions, as well as natural resource-rich provinces and non-natural resource-rich provinces.

Findings

This study found that expenditure inequality and polarization in Indonesia have moved in line, showing an increasing trend during the observation period. In the regional context, the greatest rise was in the region with low initial levels of expenditure inequality and polarization. The trends in each of the regional dimension showed a convergent pattern. It also showed that a significant portion of total polarization was attributed to expenditure differences between urban and rural areas rather than the other groups of regions.

Research limitations/implications

The similar upward movement of expenditure inequality and polarization indicates that not only the differences between groups of expenditure are getting larger, but also the identification of the within groups expenditure are getting stronger. Since the high degree of inequality and polarization are closely related to conflict among groups of communities, this finding is a strong message to the policymaker that the development process in Indonesia during 2002–2012 tended to encourage the creation of social instability.

Practical implications

This study provides an evaluation for further development of social economy in Indonesia.

Originality/value

This paper attempts to give an overview of the relationship between expenditure inequality and polarization in Indonesia during 2002–2012. It also tries to reveal in which regional dimension, expenditure inequality and polarization occurred in Indonesia during the mentioned period. The issues have not been examined in previous empirical studies in Indonesia.

This paper proposes a model to conduct macro-stress tests of credit risk for conventional and Islamic banking in Indonesia based on scenario analysis. The aims are to investigate and to compare the financial system resilience of the two banking systems from various macroeconomic shocks. It used NPL and NPF to measures credit risk of conventional and Islamic banking. It considered several exogenous macroeconomic variables, namely Gross Domestic Product, Exchange Rate, Consumer Price Index, and Interest Rate. It applied the ARDL Model which is estimated for each type of bank credit portfolio that splits into 9 sectors. It found that a decreased in GDP, exchange rate depreciation, an increased in CPI, and interest rates contributed to encouraging a rose in both NPL and NPF levels. CPI was the biggest source of vulnerability to credit risk in both groups of banks, followed by GDP, exchange rates, and interest rates. This evidence indicates that the vulnerability of the financial system in both groups of banks did not only depend on the internal performance in each bank but also depend on the external shocks. It also confirmed that although Islamic banks and conventional banks used different operating systems, they could not be separated from macroeconomic shocks.

Purpose – This paper aims to explore different forms and models of integration between Islamic commercial finance and social finance including the problem that arise as well as the solution of each of the models to promote inclusive economic growth. At the end of the paper, the authors have identified the strategy to execute and validate by the decision-makers. 

Design/methodology/approach – This approach uses two methods which are Delphi and analytical network process (ANP). The authors conduct literature review and four rounds Delphi to construct the integration model, the problem and solution of each model, as well as the questionnaire of ANP. Moreover, using an ANP method, the authors conducted interviews with decision-makers in the areas of Islamic commercial finance as well as social finance, and analyzed the results to identify key models that would create inclusivity and quality of economic growth. To ensure credibility of the results, the authors selected the respondents based on their experience in the fields, as well as their unique perspectives that will complement the group as a whole. 

Findings – After conducting the four rounds Delphi, the authors found five types of Islamic social and commercial integration which are the ownership, institutional, operational, bottom line and mandatory integration. Based on the analysis of the ANP result, the authors argue that all integration can help the country in attaining with the support of government in terms of making the integration as a vision as well as to push the education of social finance more to the stakeholders. 

Originality/value – This study is among the emerging studies that explore operational aspects of integration of social and commercial finance within the context of inclusive growth strategy