Tanggal Publikasi: 13 Des 2023
Development Of Conventional Savings And Loan Business Activities Into Sharia Savings And Loan Business Activities
Seeing the potential of the Muslim majority in this country and the euphoria of desire from the leader in the region to apply the Sharia economic principle. However, it is not by the quantity of the successful conversion of the conventional Savings and Loans Business Cooperatives into Sharia Saving and Financing Cooperatives. This research aims to identify problems, formulate solutions, and design strategies for converting conventional Savings and Loans Business Cooperatives into Sharia Saving and Financing Cooperatives. This research uses the Analytic Network Process (ANP) method by collecting opinions from various experts, such as practitioners, regulators, and experts in converting conventional Savings and loan cooperatives into Sharia Savings and loan cooperatives. This research discovers that there were similar opinions on the problems, that internal aspects caused the low conversion rate. Stakeholder interests and human resource needs are the dominant internal problems influencing the most. To solve this problem by processing data from all the respondents based on average results, the priority is the aspect of education and communication. The second priority is the aspect of gradual conversion. The proposed solution will be more effective using a market-driven strategy and rational persuasion. The implication is that the government and other stakeholders can promote the education and communication sector, where education in the form of internships and DPS or Sharia Economics training will have a significant impact.
Tanggal Publikasi: 12 Des 2023
Discussion on Halal Assurance for Micro and Small Business: A Bibliometric and Content Analysis
The integration and comprehensiveness of the halal system are essential for ensuring halal assurance. The issue of halal certification has become a topic of interest, particularly when considering micro and small businesses. Various perspectives have been examined in the study of halal certificates. In Indonesia, the implementation of Halal Assurance Law no 33 Year 2014 has made halal certification mandatory at the national level. This requirement poses challenges, particularly for small and micro businesses that typically have limited resources. Various bibliometric studies have been done on small and micro businesses and similarly have been conducted on halal topics as well. However, no bibliometric study has been done on small and micro businesses in the context of halal and halal assurance implementation. This research analyzes current trends and discussions surrounding halal studies in relation to micro and small businesses. The Google Scholar Database is utilized to ensure broader coverage. The research employs bibliometric analysis and systematic literature review to address the research questions. The study reveals that limited resources are frequently cited as a significant problem for micro and small enterprises. To ensure the implementation of halal assurance practices in these businesses, sustainable support is necessary, considering their constrained financial capabilities
Tanggal Publikasi: 4 Des 2023
CASH WAQF LINKED DINFRA (CWL-FRA) AS WAQF INNOVATION MODEL INTEGRATED WITH INFRASTRUCTURE INSTRUMENT FOR NATIONAL ECONOMIC RECOVERY AND SUSTAINABILITY
Cash waqf is a form of contemporary waqf that has great potential in the modern world. In Indonesia, despite its potential of 180 trillion per year, cash waqf collection, management, and distribution are not optimal. Nonetheless, the infrastructure sector in Indonesia faces obstacles, particularly in terms of funding. The innovation of the CWLFRA (Cash Waqf Linked DINFRA) model is, therefore, a solution to these two issues, as the proposed model is the result of an integration between efforts to optimize cash waqf and infrastructure financing via the Infrastructure Investment Fund (DINFRA). In this CWL-FRA innovation, waqf funds will be allocated to the mauquf 'alaih from the profits of infrastructure investment funds, which will become a source of long-term usable assets. As a result, the purpose of this academic paper is to develop a model capable of bolstering the ecosystem of Islamic social financial institutions and maximizing the potential achievement of cash waqf in Indonesia as a means of implementing sustainable finance and an effective instrument in reviving national economy through infrastructure development. In addition, this study seeks to determine the viability of the potential for developing the productivity of cash waqf in an effort to increase the effectiveness of achieving cash waqf to support economic sustainability with infrastructure potential. Nine respondents representing academicians and expert practitioners from both the waqf and infrastructure sectors filled out questionnaires to collect data. According to the results of the Delphi test, all respondents believed that there was a relationship between the Strengths, Weaknesses, Opportunities and Threats (SWOT) indicators, indicating that this model is implementable. Moreover, based on the level of agreement of respondents, this model has the potential to contribute positively to national economic recovery, become a sustainable source of social funds, optimize the potential of waqf in Indonesia, strengthen the ecosystem of waqf social finance institutions, and improve the quality of management and maintenance of Indonesia's infrastructure. These findings demonstrate that integrating financial waqf with existing public infrastructure could positively affect the sustainability of national economic development. The novel aspect of this paper is the proposed cash waqf management system, which can serve as a useful reference for policymakers and waqf institutions seeking to develop a more effective waqf concept in terms of collection, administration, and distribution. Consequently, this study aims to demonstrate the potential for cash waqf, which can be integrated with DINFRA's product through the innovation of the CWL-FRA model, to become an investment instrument and offer a diversity of options to the waqf community.
Tanggal Publikasi: 1 Des 2023
Development of Digital Payment Systems in Indonesia
This research explores the dynamics and development of the digital payment system in Indonesia along with rapid technological transformation, including the growth of the digital finance industry and a shift in consumer behavior towards non-cash transactions. The aim of this research is to analyze the impact of the development of digital payment systems on the existence of cash in the digital economy era as well as reduce risks that may arise from the use of digital payment systems and prevent price increases due to the amount of cash in circulation. The method used in this research is a qualitative method with a phenomenological approach. Data was analyzed involving measuring and testing data by considering theoretical concepts related to the development of digital payment systems. The results of this research indicate that technological progress in the digital economy era, especially in the development of digital payment systems, has increased rapidly. The COVID-19 pandemic has accelerated the use of e-commerce and digital wallets, triggering digital transformation in the Micro, Small and Medium Enterprises (MSME) sector. Efforts from governments, regulators and service providers to maintain user security and privacy are important steps to build public trust in digital payments.
Tanggal Publikasi: 1 Des 2023
CASH WAQF LINKED DINFRA (CWL-FRA) AS WAQF INNOVATION MODEL INTEGRATED WITH INFRASTRUCTURE INSTRUMENT FOR NATIONAL ECONOMIC RECOVERY AND SUSTAINABILITY
Cash waqf is a form of contemporary waqf that has great potential in the modern world. In Indonesia, despite its potential of 180 trillion per year, cash waqf collection, management, and distribution are not optimal. Nonetheless, the infrastructure sector in Indonesia confronts obstacles, particularly in terms of funding. The innovation of the CWLFRA (Cash Waqf Linked DINFRA) model is, therefore, a solution to these two issues, as the proposed model is the result of an integration between efforts to optimize cash waqf and infrastructure financing via the Infrastructure Investment Fund (DINFRA). In this CWL-FRA innovation, waqf funds will be allocated to the mauquf 'alaih from the profits of infrastructure investment funds, which will become a source of long-term usable assets. As a result, the purpose of this academic paper is to develop a model capable of bolstering the ecosystem of Islamic social financial institutions and maximizing the potential achievement of cash waqf in Indonesia as a means of implementing sustainable finance and an effective instrument in reviving national economy through infrastructure development. In addition, this study seeks to determine the viability of the potential for developing the productivity of cash waqf in an effort to increase the effectiveness of achieving cash waqf to support economic sustainability with infrastructure potential. Nine respondents representing academicians and expert practitioners from both the waqf and infrastructure sectors filled out questionnaires to collect data. According to the results of the Delphi test, all respondents believed that there was a relationship between the SWOT indicators, indicating that this model is implementable. Moreover, based on the level of agreement of respondents, this model has the potential to contribute positively to national economic recovery, become a sustainable source of social funds, optimize the potential of waqf in Indonesia, strengthen the ecosystem of waqf social finance institutions, and improve the quality of management and maintenance of Indonesia's infrastructure. These findings demonstrate that integrating financial waqf with existing public infrastructure could positively affect the sustainability of national economic development. The novel aspect of this paper is the proposed cash waqf management system, which can serve as a useful reference for policymakers and waqf institutions seeking to develop a more effective waqf concept in terms of collection, administration, and distribution. Consequently, this study aims to demonstrate the potential for cash waqf, which can be integrated with DINFRA's product through the innovation of the CWL-FRA model, to become an investment instrument and offer a diversity of options to the waqf community.
Tanggal Publikasi: 1 Des 2023
Analisis Strategi Pemsaran pada Perusahaan Jasa Travel Haji dan Umrah di Era New Normal
The growth of Umrah and Hajj travel business before the COVID-19 pandemic significantly incfreased. The COVID-19 pandemic caused Umrah and Hajj travel companies to experience losses. The new normal policy after the pandemic allows Umrah and Hajj travel companies to reopen their businesses. However, companies need to implement appropriate marketing strategies to maximize their profits. The goal of this research is to analyze the external and internal factors of X Tour & Travel, as well as the strategies usedto increase the sales of umrah and hajj packages in the new normal era.The methods used were SWOT analysis, CPM, and QSPM.Research has shown that increased public enthusiasm for performing umrah and hajj is a primary opportunity for X Tour & Travel. Thethreat factors for X Tour & Travel include the lack of significant solutions from governments when policies change, high levels of business competition, and Saudi Arabia's unstable regulations in the new normal era. According to the QSPM matrix, the strategies that X Tour & Travel can implement include utilizing pilgrims' testimonies and endorsements on social media to provide insight to the public about umrah according to the sunnah, using various media and developing affordable umrah packages to cater toa wider community.
Tanggal Publikasi: 30 Nov 2023
Uncovering Halal Label Food Purchase Intention Behavior in Indonesia: A Twitter Analytics and SEM-Based Investigation
This study examined the factors that influence the intention to buy food labeled halal among Muslim consumers in Indonesia using mixed methods, this research used qualitative analysis by identifying trending topics related to 2.665 conversations on halal labels on Twitter in Indonesia using Drone Emprit Academic (DEA) and NVivo 12 Plus to uncover the underlying perception. A quantitative hypothesis was then developed based on the qualitative investigation and the adoption literature. Survey data was collected from 407 Muslim consumers in Indonesia using SEM-PLS. The results showed that the variables halal labeled food intention, halal labeled food safety, and halal labeled food knowledge showed a significant and positive influence on the intention to buy halal labeled food and repeat purchases of halal labeled food. This shows increasing consumer awareness about product halalness, health, and perceived value, which in turn encourages consumer interest to buy food products labeled halal.
Tanggal Publikasi: 25 Nov 2023
Zakat, Accounting of Zakat, SAK Design of Zakat Accounting Guidelines Based on Comparative Analysis of PSAK 109 and FAS (9) AAOIFI"
This research will examine Sharia Accounting specifically which deals with the analysis of Zakat based on comparative analysis of PSAK 109 with FAS (9) AAOIFI and makes a draft of Zakat Accounting Guidelines based on comparison of PSAK 109 with FAS (9) AAOIFI which can be applied in Indonesia. The research used in this research is a descriptive qualitative research that is a method that describes, describes, compares a data and a situation and explains a situation in such a way that a conclusion can be drawn, with in-depth interviews, discussions and literature studies in order to obtain information from primary and secondary sources, using content analysis, literature review and SWOT.
Tanggal Publikasi: 15 Nov 2023
Halal and Digitalization: A Bibliometric and Content Analysis.
Research on halal has been conducted in various disciplines and on various topics. Bibliometric analysis on halal-related studies has also been conducted several times. As information technology and computer-based applications develop rapidly, digitalization in the halal industry has become an emerging concern. This study aims to analyze the articles indexed by Google Scholar on the topics of halal and digitalization. This index is used to allow for wider coverage and to include articles in Bahasa Indonesia. This is important since halal certification has now become mandatory in the country. This has attracted researchers to conduct more studies on halal-related research. The keywords used are limited to halal and digital. Bibliometric and content analysis is used to structure the discussion and answer the research question. The result for articles in Bahasa Indonesia and articles in English are separated to see whether there is any difference. The result shows that the research topics in Bahasa Indonesia are dominated by Muslim-friendly tourism and digital marketing for almost all halal industry sectors. Papers in English have more varied topics including cryptocurrency but are dominated by cases in Indonesia and Malaysia. Therefore, research in Bahasa Indonesia related to halal and digitalization may cover uncovered topics such as halal bitcoin and cryptocurrency. Research in English may adopt cases from the two most mentioned cases, but with implementation in other countries.
Tanggal Publikasi: 26 Okt 2023
This research aims to analyze the influence of rewards, supervision, career development, co-workers, and the nature of work on the job satisfaction of Bank Syariah Indonesia employees. This research uses a quantitative approach with primary data. The population of this research is Bank Syariah Indonesia employees who work at the head office and the network undergoing a merger. The sampling technique used random samples, and the number was determined using Slovin's measurements so that 354 respondents were obtained. The data collection technique uses a questionnaire with a Likert scale. Data analysis uses a structural equation model with the help of SmartPLS 3 software. This research shows that rewards, supervision, career development, co-workers, and the nature of work positively and significantly affect the job satisfaction of Bank Syariah Indonesia employees after the merger. Theoretical research results complement existing theory and can be a reference for merging companies regarding management programs to increase employee performance satisfaction.
Tanggal Publikasi: 1 Okt 2023
Unlocking Inclusive Growth: The Impact of Shariah Investment in Indonesia
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
Tanggal Publikasi: 26 Sep 2023
Impact of Financing Problems on Baitul Mal wa Tamwil during Covid-19
This study evaluates the cause and effect of financing problems on Baitul Mal wa Tamwil (BMT) during COVID-19 and analyzes the strategy taken by BMT to handle financing problems. This study is qualitative research. The primary and secondary data were obtained from observations, interviews, and documentation. The informants of the study are top management and members of BMT Al Hidayah Kotaraja Lombok Timur. The data are analyzed using the FMEA (Failure Mode and Effect Analysis) approach. The FMEA method is a systematic method used to identify and prevent problems in a company's product or business process. All process is calculated in a score, namely Risk Priority Number (RPN), and shown in the Pareto diagram. Financing problems are categorized as substandard, doubtful, and bad financing. The causes of financing problems are, among others, the employee’s lack of ability to assess the personality of the prospective debtors in fulfilling their installments, and natural disasters (the COVID-19 pandemic) that may affect someone’s financial ability. Financing problems have an impact on the emergence of financing risk. BMT Al Hidayah Kotaraja is also directly impacted by the inefficient money flow because monthly profit sharing still needs to be distributed to the members. The main factor causing this problem is staff members' inability to evaluate potential debtors. Additionally, the company's approach to these financing problems has not been working. The management, in that case, focused on the debtors instead of their employee’s capability. In that circumstance, the management ought to focus on improving the capacity of their staff to evaluate potential members. According to this study's findings, the FMEA is applicable in resolving finance issues in BMT.
Tanggal Publikasi: 22 Sep 2023
syariah fintech growth in industriy revolution 5.0
Currently, the development of fintech (financial technology) is growing in Indonesia, not to mention the syariah economic industry is also competing in financial technology and providing financial services based on Islamic law. A number of studies have shown the potential of sharia fintech applications, along with the future challenges that will be face by syariah fintech in Indonesia. ALAMI Sharia is one of the pioneers in the field of syariah fintech with the specification of crowdfunding funds from the public and channeling it to encourage the development of MSMEs that have difficulty getting capital injections from banks. The growth of ALAMI Sharia which has drastically increased in just 3 years is an interesting case study to discuss that it can become learning material for other syariah fintech. Operational cost efficiency, Strict funding assessment standards, employees dominated by young generations, conducive office-culture, and human resource management that not only emphasizes target achievement but alignment of productivity with Islamic values that are consistently applied have proven to be able to turn ALAMI Sharia into the best syariah fintech in Indonesia today.
Tanggal Publikasi: 19 Sep 2023
The Influence of Islamic Service Quality and Trust on Customer Satisfaction and Intention in Reusing The Services in The Implementation of Umrah and Special Hajj Pilgrimage.
Hasil penelitian menunjukkan, kualitas pelayanan islami y perusahaan travel dan kepercayaan jamaah memiliki pengaruh yang signifikan terhadap kepuasan pelanggan yang dirasakan oleh jamaah umroh dan haji khusus,
Tanggal Publikasi: 8 Sep 2023
The Thoughts of Sheikh Al Maududi and Ayatollah Baqir Shadr on Interest
The past victories of Islam were weakened by stagnating scientific progress, slowing Muslim economic growth, and weakening military power in Islamic countries, and were easily defeated by the West. During this period, scholars were stigmatized as closed doors to Izhad and experienced a so-called sluggishness in which there was little development and innovation in both religion and science. Open the door to Ijtihad such as Johor ulema Dato' Syed Salim Abdullah al-Attas (1873-1899), Dato' Abdullah Musa (1899-1907), Syed 'Abd Qadir Muhsin al-Attas (1909 -1933) ) and Syed Alwi Tahir al-Haddad (1933-1941). Currently, Muslims are undergoing various attacks from scientific and economic aspects, especially in relation to interest, and until now, there are still some Muslims who do not consider interest, especially bank interest, to be haram. It's a pity. That's why scholars tried to empower Muslims, such as Sunni Abul Ala al-Moudi and Shia Sheikh Bakr Sadr. This study uses a literature review method with reference to selected journals and books and aims to explore whether there are differences between Sunnis and Shiites regarding this interest.
Tanggal Publikasi: 31 Agt 2023
SHARIA STARTUP DEVELOPMENT MODEL THROUGH BUSINESS INCUBATORS
Startups have an important role in economic development, but they also have a high failure rate. A business incubator is an institution that aims to help startups with services and resources to facilitate their development. However, currently there is no business incubator that specifically specializes in developing sharia startups. This study has objectives to (1) describe the structure of the incubation model in the current business incubator, (2) identify the needs of startups in developing their business from the sharia side and (3) propose the development of an incubation model for the right business incubator for sharia startups. Methods of data analysis in this research using a qualitative study where business incubators and sharia startups are interviewed about the incubation process model and the business needs of sharia startups. The results of this study are (1) the three incubation models of the three business incubators consist of a process that is divided into 3 stages, namely pre-incubation, incubation, and post-incubation, but the three business models are not suitable for developing a sharia startup business. Startups hope to participate in a business incubation program that supports their business in terms of sharia. (2) The results of research on startup needs in developing their business found that 50% of startups need knowledge of sharia muamalah fiqh knowledge principles, 25% of startups need digital branding training according to sharia, 50% of startups need networking and mentoring with mentors who have experience and expertise in the field. sharia sector and the most dominant is 75% startups need access to sharia business funding. (3) Therefore, the results of the last study, the researchers developed an incubation model based on the needs of sharia startups which have differences in the general/conventional incubation model, namely the addition of sharia-based activities at each stage. In the pre-incubation stage, namely the selection process for sharia-based startups, introduction to sharia economics and sharia digital training capabilities. In the incubation stage, namely knowledge of sharia muamalah fiqh, networking and mentoring with mentors who have experience and expertise in the field of sharia and character training of Muslim entrepreneurs. In the post-incubation stage, namely access to sharia business funding and a network of Muslim entrepreneurs.
Tanggal Publikasi: 8 Agt 2023
Pengaruh Transfer Pricing Dan Profitabilitas Terhadap Penghindaran Pajak Pada Perusahaan Konglomerasi Yang Terdaftar Di Issi
Penelitian ini bertujuan untuk mencari tahu apakah terdapat pengaruh tranfer pricing dan profitabilitas terhadap penghindaran pajak yang terjadi pada perusahaan konglomerasi yang terdaftar di ISSI.Metode : Penelitian ini menggunakan pendekatan kuantitatif. Teknik pengambilan data penelitian ini menggunakan purposive sampling yang diuji dari tiga puluh dua perushaan konglomerasi yang terdaftar di ISSI pada tahun 2019-2020. Teknik analisis yang digunakan dalam penelitian ini adalah analisis regresi linear berganda data panel.vHasil/Temuan : Hasil analisis dari penelitian ini menunjukan bahwa (1) tranfer pricing tidak berpengaruh terhadap penghindaran pajak, (2) Profitabilitas secara signifikan tidak berpengaruh terhadap penghindaran pajak.
Tanggal Publikasi: 4 Agt 2023
Functionalization of Cash Waqf for Solving Poverty Problems in Indonesia
Increased economic power and growth in a country can be signaled from indicators of poverty levels and economic weakness. Poverty is the main reason for moral hazart and the unstable economy of a nation. Cash waqf exists to solve and overcome these socio-economic problems. Cash waqf has universal power and strength where every individual will be able to donate wealth without certain limits. Cash waqf is also very strategic in building and presenting employment areas and reducing unemployment in selective production activities according to Sharia rules and benefits. waqf has the potential to empower the real sector and strengthen economic fundamentals. Through the instrument of cash waqf, poverty alleviation can be overcome through the hands of the Government in the channel of community empowerment programs. The target of waqf in Indonesia is actually able to create social welfare for the community as the goal of economic justice, hence the need for effective waqf nadzir governance. Cash waqf has tremendous economic potential to take care of the mustadh'afiin group as well as to alleviate poverty, especially because the sociological conditions of the Indonesian people are Muslim so that waqf funds that can be collected from the community are very possible
Tanggal Publikasi: 2 Agt 2023
Halal Research During COVID-19 Pandemic: A Bibliometric Analysis
After the COVID-19 pandemic, there has been a worldwide increase in awareness of the concept of halal. During this crisis, the number of research papers published on Halal and COVID-19 has also increased, possibly due to the increased reliance on the internet. This study conducts a systematic review and bibliometric analysis of 156 relevant papers, using Google Scholar and Harzing Publish or Perish, to identify trends and provide future research directions in the field of halal studies. The result of Vosviewer shows that there are six clusters of keywords with a significant number of studies discussing halal tourism and halal food. Indonesia and Malaysia are frequently studied on this topic. Towards the end of the pandemic, the topic of halal tends to increase in certification issues.
Tanggal Publikasi: 2 Agt 2023
Gen Z and Support Towards Islamic Commercial and Social Finance Integration
e integration of Islamic commercial and social finance is receiving increasing attention, especially as the global economy attempts to recover from the aftermath of Covid-19. Therefore, it is important to examine what factors contribute to the success of the integration of Islamic commercial and social finance. One form of integration is operational integration between Islamic banks and ZISWAF institutions (zakat, infaq, sadaqa, and waqf). These institutions could offer various joint products, including specialized savings accounts where profit sharing is distributed directly to the social institution rather than to the account holders. The objective of this study is to analyse the determinants of Generation Z's intention to support the program. The Partial Least Square-Structural Equation Model is used to analyse the responses of 425 Muslim Gen Z in Bogor. The result shows that attitude, religiosity, knowledge, functional factor, and trust have a significant and positive influence on the intention to support the Islamic commercial and social integration. Moreover, trust also moderates the positive influence of knowledge on Gen Z intention