This study aims to analyze the influence of perceived ease of use, transaction speed, and transaction security on consumer satisfaction in using QRIS as a payment method in the Bogor City MSME sector. The research method used was a quantitative approach with data collection techniques through the distribution of questionnaires to 215 respondents who were selected using purposive sampling techniques. The data was analyzed using the SmartPLS Structural Equation Modeling (SEM) method. The results of the study show that ease of use and transaction security have a positive and significant effect on consumer satisfaction. Meanwhile, the relatively low transaction speed has a negative impact on consumer satisfaction. Transaction security is the most dominant variable in influencing consumer satisfaction. These findings indicate the importance of improving security, convenience, and speed in the QRIS digital payment system to support wider adoption among MSMEs. This research is expected to be a reference for the development of strategies to improve digital payment system services in Indonesia
 

This paper aims to explore how neoliberal ideology is rooted in Indonesian infrastructural powers through the process of international financial reporting standardisation and the forces that divert Islamic Financial Institutions (IFIs) in Indonesia from fulfilling their religious and socio-economic objectives of transparency, justice and accountability, to their stakeholders. This paper, taking a critical perspective, interviewed key actors involved in standard setting in Indonesia to gain insights on their perceptions and experience on the opportunities and challenges from the decision to adopt International Financial Reporting Standards (IFRS) and the impact on sharīʿah standard setting for IFIs in the country. The analysis is informed by the logic of neoliberalism in supporting the IFRS project and suppressing any form of local resistance. The neoliberalism agenda to capture the potential rise of an alternative competing local standards for IFIs was successful through external cohesive powers aided by political and professional elites in ensuring organisations in the country mimic their capitalist counterparts.

This study investigates the impact of non-halal income and interest-based debt on the value of sharia-compliant issuers in Indonesia’s energy sector—a capital-intensive industry where the use of debt is often inevitable. Prior research has explored the influence of capital structure and Sharia compliance broadly, but studies focusing specifically on the interaction of non-halal income and interest-based debt within the energy sector remain limited. Addressing this gap, the study employs a panel data approach covering 15 energy companies listed on the Indonesia Sharia Stock Index (ISSI) over the period 2018–2022. The Price to Book Value (PBV) ratio is used as a proxy for firm value. The results reveal that non-halal income (PNH) does not significantly affect PBV (p = 0.4684), indicating minimal influence on firm value. However, interest-based debt (UBB) negatively affects PBV at a 10% significance level, suggesting that higher UBB reduces firm value. Moreover, the interaction between PNH and UBB shows a significant negative effect on PBV, implying that a high combination of both variables further decreases firm value. In contrast, Return on Assets (ROA), Return on Equity (ROE), and Earnings Per Share (EPS) have significant positive effects on PBV. These findings highlight the need for greater financial discipline and Sharia compliance among energy sector issuers to maintain investor confidence and firm value.

This study critically examines the dynamics of legitimacy in the development of the Indonesian halal industry through an Islamic political economy approach. This article presents a multidimensional analysis of the intersection between political power and Islamic values by integrating Neo-Institutional Sociology Theory (emphasizing the role of norms and institutional legitimacy) with the classical views of Ibn Khaldun (governance, justice, wealth, and sharia law). The findings indicate a shift in halal sector governance from fulfilling sharia-based economic justice to political interests and power consolidation that have created inequality between sub-sectors influenced by selective regulation, political intervention, and instrumentalization of Islamic norms. Three conceptual frameworks are offered: (1) Islamic Political Economy in the Halal Industry; (2) The Urgency of Re-Islamizing Halal Governance; and (3) State Politics in the Formation of Islamic Economic Institutions. All three are synthesized in the Islamic Political Economy Model as a critical analytical tool to evaluate the dynamics of power and institutional legitimacy in the halal economy.

This study aims to determine the extent to which product quality, price, promotion, and service quality significantly influence customer satisfaction at Es Teh Indonesia in Bogor. A total of 430 respondents participated in this study, with questionnaires distributed using a non-probability sampling technique in a descriptive quantitative research design. Data were analyzed using SPSS 29 software, applying multiple linear regression with an error value of α= 0.05. The results indicate that (1) customer satisfaction is positively and significantly influenced by product quality,(2) price significantly and favorably affects customer satisfaction,(3) promotion significantly and positively impacts customer satisfaction, and (4) service quality also has a positive and significant impact on customer satisfaction. Furthermore, the study finds that product quality, price, promotion, and service quality collectively have a positive and significant influence on customer satisfaction at Es Teh Indonesia in Bogor. These findings underscore the importance of each marketing element in fostering customer loyalty and satisfaction. The research has significant implications for Es Teh Indonesia’s strategy to enhance its product offerings, improve service quality, and design effective promotional campaigns. These results can guide the company's marketing practices to achieve a competitive advantage in the local beverage market.

Islamic Microfinance Institutions (IMFIs) play a crucial role in delivering financial services toMicro, Small, and Medium Enterprises (MSMEs),thereby advancing financial inclusion and fostering economic empowerment. Despite their significance, IMFIs frequently encounter major constraints, particularly limited access to capital. In contrast, technological advancements have introduced innovative and efficient financing alternatives, most notably in the form of financial technology (fintech). This study investigates the potential for collaboration between IMFIs andfintech, with a particular emphasis oncrowdfunding as a financing mechanism. It seeks to identify the benefitsand opportunities, alongside the costs and risks, associated with the implementation of fintech-based crowdfunding as an alternative financing source for IMFIs. Adopting a critical review research paradigm and a mixed-method epistemological approach, the study employs two key methodologies: (1) the development of a typology outlining the benefits, opportunities, costs, and risks of collaboration;and (2) the application of the Analytic Network Process (ANP), using the typology asthe foundation for model construction. Findings indicate that experts generally perceive the benefits and opportunities of such collaboration to outweigh the associated costs and risks. Notable advantages include enhanced access to capital and the cultivation of a more robust investment culture within IMFIs. On the other hand, key concerns include infrastructural limitations and the potential for capital loss. To mitigate these risks and maximize collaborative benefits, the study highlights the importance of strengthening institutional management across both IMFIs and fintech platforms

This study aims to analyze the role of compliance mediation in influence of human resource (HR) quality and supervision on accountability of waqf institutions registered with the Indonesian Waqf Board (BWI). This study provides insight into how these factors interact to improve institutional accountability, which is an important element in maintaining public trust in waqf management. This study uses a quantitative approach with the Structural Equation Modeling-Partial Least Squares (SEM-PLS) method. Data were collected through a survey of 164 respondents consisting of stakeholders and practitioners at the Waqf Nadzir Institution. This model evaluates the direct and mediation relationships between variables. The results of the study indicate that the quality of human resources does not have a significant direct effect on the accountability of waqf institutions or on compliance. In contrast, supervision has a positive and significant effect on compliance and accountability. Compliance is proven to only mediate the relationship between supervision and accountability, but cannot mediate the relationship between the quality of human resources and accountability. This finding emphasizes the importance of effective supervision in improving institutional compliance and accountability. The quality of human resources in waqf institutions needs to be considered to improve the accountability of waqf institutions. The novelty of this study is to develop a theory of legitimacy in terms of the need for supervision in improving the accountability of waqf institutions

This study, conducted with a quantitative research approach, aimed to examine the
factors influencing Islamic financial literacy and financial behavior, and their subsequent
impact on financial resilience among young couples post-COVID-19. Employing Structural
Equation Model-Partial Least Squares (SEM-PLS), the research analyzed data collected
through questionnaires from a total of 250 respondents. The findings suggested Islamic
Financial Literacy has both positive effects on Financial Resilience. and Islamic Financial
Behavior. Interestingly, Risk Tolerance Level has a negative effect on Islamic Financial
Behavior. In addition, Financial Behavior has a positive effect on Financial Resilience.

Investigate the significant development of halal industry and the urgent need for countries with Muslim minorities to adopt sharia accounting practices. The focus was on Thailand which was used as a representative of Muslim minority countries. Moreover, the method applied was a Systematic Literature Review using the PRISMA framework. This was achieved by retrieving and filtering different literature from Google Scholar based on certain inclusion or exclusion criteria followed by the conduct of a quality assurance test. The results showed that Thailand successfully dominated halal industry but Sharia accounting practices were rarely adopted. This gap has certain challenges and opportunities related to the integration of Sharia principles into halal industry. The observations were expected to provide a comprehensive analysis of the role of halal industry in advancing the adoption of Sharia accounting in Muslim minority countries.

Waqf Deposits are a form of investment where funds are set aside for waqf purposes and are managed by Sharia Financial Institutions. The profits can be used for social or educational activities. This research uses a qualitative method of literature study/library search which tries to compare several existing regulations, then tries to conclude whether there is a need for new regulatory provisions related to waqf deposits, especially integration between waqf deposit management and the latest regulations, Indonesia Financial Services Authority (OJK) involvement in supervising waqf deposits, protection Customer Law in Waqf Deposit Products. This research provides an in-depth study of aspects of legal protection for customers who own funds in waqf deposit products, considering that there is still limited literature that examines this topic comprehensively. This research not only refers to existing laws, but also integrates the latest regulatory developments related to sharia fintech and the management of waqf funds in the form of deposits. This research also makes a significant contribution in understanding and developing waqf deposit products that comply with sharia law and regulations applicable in Indonesia. 
 

Purpose - This study examines the influence of social media
marketing and green knowledge sharing on climate change awareness
among university students in Indonesia and Turkey. These digital
initiatives are framed as a contemporary form of da'wah bil hal, where
Islamic values of environmental stewardship are promoted through
action-based communication and active engagement on social media
platforms.
Method - A quantitative approach was employed using Partial Least
Squares Structural Equation Modeling (PLS-SEM) to analyze data
collected from 327 students through purposive sampling.
Result - The findings reveal that social media marketing significantly
impacts green knowledge sharing (β = 0.279, p = 0.016) and climate
awareness (β = 0.305, p = 0.012), with green knowledge sharing
mediating the relationship (β = 0.112, p = 0.038). However, climate
awareness alone does not significantly lead to pro-environmental
behavior.
Implication – The study highlights that empowering students
through social media campaigns can be an effective strategy for
environmental da'wah, integrating Islamic values into climate action.
Originality/Value - This study is one of the first cross-cultural
investigations linking social media-driven environmental
communication with Islamic da'wah practices between Indonesia and
Turkey. It highlights cultural variations in environmental awareness
and communication style, where Indonesian students show higher
collectivist-driven engagement in green campaigns. In contrast,
Turkish students tend to approach environmental messaging more
individually. These contrasts enrich understanding of how Islamic
da'wah bil hal can be contextualized across different cultural and
educational settings.

This paper investigates the relations between women's freedom within the family and their access to accounting education, adherence to discipline, and supervision for the cases of Indonesia and Pakistan using the Structural Equation modelling. The participation of women in microfinance is deemed crucial for the success of poverty alleviation programs, particularly in countries where group-based initiatives are prevalent. The observation reveals that women involved in Islamic microfinance programs experience economic, moral, and religious empowerment, enabling them to overcome economic challenges and poverty, thereby enhancing their living standards. The findings indicate that women's ability to manage family finances has a direct impact on their access to accounting education, discipline, and supervision. The argument posits that autonomy plays a significant role in influencing accounting education, discipline, and supervision within the observed groups in Indonesia and Pakistan. The study further documents that the influence of women's life freedom in Baitut Tamkin Tazkia Madani (BTTM) Indonesia on accounting education and supervision surpasses that in Akhuwat Pakistan. Conversely, the impact of women's life freedom in BTTM on accounting discipline is lower than that in Akhuwat. This research addresses the existing gap in the literature concerning the study of women and Islamic microfinance, emphasizing the importance of considering Islamic perspectives on women, family, and microfinance in social policies aimed at poverty eradication.

This study aimed to analyze the influence of social media, social interaction, collaborative promotion, and individual promotion on the continuity of written works and writers' income on the KBM App platform. Using a correlational quantitative method, data was collected through an online survey involving 100 KBM App writers selected using the Slovin sampling technique from a total population of 114,902 writers. Analysis was conducted using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicated that promotion and collaborative promotion, a specific form of collaboration focusing on joint marketing strategies, significantly influenced social media usage, ultimately having a positive impact on writers' income. Additionally, social interaction directly affected the continuity of written works, although it did not significantly contribute to increased social media engagement.These findings highlighted the crucial role of digital marketing strategies in improving the financial well-being of writers on digital platforms

Purpose – This study aims to comprehensively explore and analyse the construct of sharia compliance in marketing to promote innovation and collaboration among Islamic Financial Institutions (IFIs), which will be beneficial for both academics and industry. This study began by exploring the definition of Sharia compliance from highly reputable journal, comparing it with previous research and confirming it to the IFI to construct the Sharia compliance parameters. 

Design/methodology/approach – The parameters extracted from the existing literature are subsequently communicated to practitioners in the field of Islamic finance and subjected to Exploratory Factor Analysis (EFA). In the context of this study, it is postulated that each fundamental component represents Sharia Compliance, including Aqad Fulfilment, Maqasid al-Shariah, Accounting Aspects, and Consumer Protection. Three experts in the field were involved in developing the metrics and designing the questionnaire, which was then completed by 48 leaders of IFIs to be processed using EFA. Finally, this study conducted additional interviews with five CEOs to substantiate this assumption and ensure that the Sharia compliance parameters bridge academia and Islamic finance industry. The exploratory Factor Analysis (EFA) questionnaire comprised 27 items and which was distributed to 48 leaders of IFIs in Indonesia, primarily in the Java region.

Findings – This study emphasizes the need to embrace Sharia compliance within IFIs, especially amid the challenges of volatility, uncertainty, complexity, and ambiguity (VUCA). Sharia compliance should be integral part in marketing especially when IFIs collaborate and introduce innovative products, ensuring alignment with the four aspects. These four aspects are Aqad Fulfilment, Maqasid al-Shariah, Accounting Aspects, and Consumer Protection. Based on EFA, four key aspects have been validated as significant factors. The implementation of these factors reinforces Sharia Compliance as the core principles of the Islamic marketing approach to enhance customer confidence and attracting clienteles. Additionally, industry players recognize these four aspects as crucial in the IFIs marketing process, especially when undertaking innovation and collaboration efforts. 

Research limitations/implications – This research assists Islamic Financial Institutions in assessing whether their marketing initiatives particularly in areas of innovation and collaboration, adhere to Sharia principles.   Moreover, this research will also benefit future research in Islamic finance since it attempts to form the Sharia compliance variable from rigorous academic steps. 

Originality: This research contributes original insights by proposing sharia compliance paramaters that combine ideas from Islamic scholars with practitioners' perspectives. To strengthen this idea, this study utilizes EFA to discern factors to emphasize the contemporary relevance of Sharia compliance in a VUCA environment. The parameters can be used as guidance for IFIs to do marketing by way of collaborative innovation with their cross-industries partners

This study aims to analyze the opportunities and challenges of implementing Sharia-based green finance in State-Owned Enterprises (SOEs), using Perum LKBN Antara as a case study. Sharia-based green finance is an innovative approach that integrates sustainability principles with Islamic values in the financial system. Using a qualitative method with a case study approach, data were collected through in-depth interviews, company documents, and annual reports, which were analyzed using NVivo software. The results show that Perum LKBN Antara has significant potential to adopt Sharia-based green finance, supported by internal awareness, environmentally friendly strategic policies, and ESG reporting practices. However, the implementation still faces several challenges, such as limited human resources, the absence of a structured sustainability roadmap, and a lack of understanding of Sharia principles in the context of green finance. This research recommends strengthening internal literacy, collaborating with Sharia-compliant institutions, and developing a roadmap and sustainability report based on Sharia ESG principles. This study is expected to provide both theoretical and practical contributions to the development of Sharia-based green finance in the public sector as a support for achieving the Sustainable Development Goals (SDGs).

The implementation of mandatory halal certification in Indonesia poses significant challenges for Micro and Small Enterprises (MSEs), primarily due to constrained financial, technical, and human resources, as well as complex regulatory frameworks. This study investigates strategic priorities to support MSEs in navigating the halal certification process by juxtaposing qualitative perspectives from key halal ecosystem stakeholders government officials, certification bodies, MSE practitioners, and halal influencers with insights generated through artificial intelligence (AI). Employing content and thematic analysis, the study addresses the core research question: “What should be prioritized to facilitate halal certification for Indonesian MSEs?” The findings highlight both areas of convergence and divergence between human and AI-generated perspectives, particularly concerning the practicality, scalability, and sustainability of proposed interventions. While stakeholders emphasize the need for institutional support, simplified procedures, and capacity building, AI contributes innovative, data-driven strategies such as automated compliance tools and targeted digital outreach. This integrative analysis offers a novel contribution by bridging human-centric knowledge with AI-enabled foresight, thereby informing evidence-based policymaking and operational strategies. Ultimately, the study provides a multidimensional roadmap for enhancing the accessibility, efficiency, and inclusivity of halal certification in Indonesia, particularly for MSEs that constitute a vital segment of the national economy and halal value chain. 

Introduction:Islamic financial conceptenables an integrationbetween commercial and social finance. It has a substantial benefit for the economy. This study aimsto investigate the factors that influence Muslim millenials intention to contribute toward integrated Islamic commercial and social finance (IICSF), especiallyin Indonesiacase.Research Methods:Using modified TPB framework, primary data is collected from respondents located in Jakarta, Bogor, Depok, Tangerang, and Bekasi.Partial Least Square-Structured Equation Modelling(PLS-SEM) is utilized to analyze the data.Results:The result indicatesthat knowledge, religiosity, attitude, subjective norms, and perceived behavioral control have significant impact on Muslim millennials’intention to contribute toward IICSF. Meanwhile,relative advantage is found to be insignificant.Conclusion:To boost the practice and implementation of IICSF, it is important to raise public knowledge, religiosity, attitude, and to increase education so society are well educated about the products.This study contributes to the limited research on integrated Islamic finance from a consumer perspective, particularly focusing on the behavioral intentions of Muslim millennials in Indonesia.

This research aims to analyze the influence of seller ethics on customer satisfaction, trust, and loyalty. Additionally, it aims to explore the impact of satisfaction and trust on customer loyalty within the automotive industry. Using a quantitative approach and survey method, data was collected from 95 automotive industry employees in the Jabodetabek-Karawang area via cluster sampling. A questionnaire was utilized for data collection, and the analysis was conducted using PLS SEM.The results indicate that seller ethics positively and significantly impact customer trust, satisfaction, and loyalty. Specifically, enhanced seller ethics correlate with higher customer satisfaction, strengthened customer trust, and increased customer loyalty. Moreover, high customer trust boosts loyalty, and customer satisfaction is crucial for fostering loyalty.These findings underscore the importance of seller ethics in cultivating robust and profitable customer relationships. By practicing good ethics in customer interactions,sellers can enhance trust, satisfaction, and loyalty. This study contributes to the automotive industry literature and has practical implications for companies, suggesting that improving salesperson ethical behavior through training and coaching can be beneficial.

This study aims as a first step in determining the financial health of the company using the Early Warning System (EWS) financial ratios and early corporate bankruptcy. This research aims to analyze the Altman Z-Score and Fulmer Model models which will be used as an Early Warning System (EWS) for sharia insurance vulnerabilities in Indonesia. The Altman Z-Score and Fulmer Model methods use data obtained from financial reports and processed as a measure of financial health. The ratio that influences the financial vulnerability of sharia insurance in Indonesia using the Altman method which has been modified using PCA is the ratio of retained earnings/total assets (X2) and income before tax/total assets (X3). Meanwhile, the influential ratios from the Fulmer method modified using PCA found 3 ratios that influenced the financial vulnerability of sharia insurance in Indonesia, namely Retained Earning/Total Assets (V1), EBT/Equity (V3) and Cash Flow/Total Debt (V4).

Ekselensia Tahfizh School (e-Tahfizh) is a human resource development program with a focus on memorizing Al-Qur'an, dirasah Islamiyah,andleadershipundertheauspicesoftheLembagaAmilZakat (LAZ)DompetDhuafa.This study aims to determine the extent to which the effectiveness of the e-Tahfizh program in helping beneficiaries feel a change in welfare in their lives. This study uses a quantitative and descriptive qualitative approach with a random sample technique and data collection through interviews and questionnaires to 28 alumni, as well as applying the CIBEST model and T-test to measure changes in spiritual well-being before and after undergoing program coaching.The results showed that the program was effective, where the spiritual well-being index increased from 75% to 82.14% before and after becoming an alumnus of the e-Tahfizh program. In addition, the t-test also showed statistical significance with a p-value of 0.022 (one-way) and 0.044 (two-way),sothestatisticaltestresultsweredeclaredsignificantbecausethey were smaller than 0.05.The practical implications of this research show that ZISWAF-based education could improvethe spiritual welfare of underprivileged communities. The e-Tahfizh model could expand access to Islamic education and optimize the role of ZISWAF in human resource development.Dompet Dhuafa continues to encourage evaluation to improve program quality and expand access to Islamic values-based education