Penelitian ini bertujuan untuk mengetahui reaksi pasar atas informasi kepatuhan syariah diperoleh melalui pengumuman perubahan komposisi saham dalam penghitungan Indeks Saham Syariah Indonesia tanggal sejak tahun 2011 hingga tahun 2019 terhadap emiten yang memenuhi dan tidak memenuhi aspek kepatuhan syariah. Informasi kepatuhan syariah ini. Dengan menggunakan metodologi event study (studi peristiwa), penelitian ini menunjukkan bahwa sekitar 86% atau 12 dari 14 pengujian reaksi pasar atas pengungkapan kepatuhan syariah pada pengumuman perubahan komposisi saham dalam penghitungan ISSI,  yang artinya terdapat reaksi pasar yang positif terhadap saham perusahaan yang patuh syariah sebesar 86% dari seluruh pengujian yang tersedia. Masuknya perusahaan ke dalam Indeks Saham Syariah Indonesia dianggap sebagai sinyal positif oleh para investor, terutama bagi investor ritel dan manajer investasi yang mengkhususkan diri atau hanya fokus untuk menyalurkan dananya pada produk yang memenuhi aspek syariah saja. Sinyal positif ini kemudian disikapi dengan melakukan pembelian atas saham-saham patuh syariah tersebut.

 This study aims to optimize the role of mosques in increasing economic welfare and reducing widespread public usury loans. Moreover, this study also aims to determine the right model for Islamic financial activities. This is a qualitative study and the Analytic Network Process (ANP) BOCR model was utilized to obtain the ideal model according to literature reviews and expert opinion. This study conducted in-depth interviews with 5 experts (Ulama, Regulators (Financial Services Authority), Fintech Practitioners, fintech academics, and the Indonesian Mosque Council). Three alternative models were chosen by the experts, namely the Crowdfunding Model (0.47), Peer-to-Peer landing (0.37), and Bank Infaq (0.17). In addition, the experts suggested for attention to be made to the cost factor (0.47) so as not to burden the mosque. Moreover, according to the experts, the benefits (0.28) that will be obtained will be greater for the welfare of the mosque and residents around the mosque if fintech crowdfunding is implemented.  Research on the role of mosques in improving people's welfare by utilizing fintech is very rarely done. The results of this study are expected to increase the role of the community in collecting funds and controlling the distribution of tabarru' funds. This type of research is exploratory, and empirical research is needed for in-depth results.  this research is implemented, it will accelerate the recovery of economic conditions during a crisis. The successful implementation of the Islamic Social Finance (ISF) model by utilizing the role of the mosque will improve the welfare of the community evenly

Pada masa pandemi, pemerintah menetapkan sebagian pegawai pada lembaga pemerintah bekerja dari rumah (WFH). Penelitian ini bertujuan untuk menganalisis tingkat keberhasilan sistem informasi manajemen daerah (SIMDA) dari perspektif pengguna di masa pandemi. Penelitian ini menggunakan metode kuantitatif dengan teknik Partial Least Square (PLS). Model yang digunakan adalah model dari De Lone dan Mc Lean untuk pengembangan kuesioner. Hasil dari penelitian ini memberikan bukti bahwa semakin tinggi bagus kualitas informasi yang dihasilkan SIMDA maka akan semakin meningkatkan tingkat kegunaan SIMDA. Semakin bagus kualitas SIMDA dan kualitas informasi yang dihasilkan dapat meningkatkan tingkat kepuasan pengguna. Namun penelitian ini membuktikan tidak ada pengaruh yang signifikan antara tingkat kegunaan SIMDA dan tingkat kepuasan pengguna terhadap dampak individu pegawai. Disisi lain semakin tinggi dampak individu yang dirasakan pegawai terhadap SIMDA dapat meningkatkan dampak organisasi. Penelitian terbatas pada pegawai Kab. Aceh Singkil sehingga hasil yang diharapkan tidak dapat digeneralisir ke seluruh Indonesia. Namun dari hasil penelitian dapat disimpulkan SIMDA berjalan dengan baik walaupun di masa pandemi dan masih dapat meningkatkan kinerja organisasi secara keseluruhan dalam mempertahankan opini Wajar tanpa Pengecualian (WTP).

Research purposes - This study aims to analyze the determinants of millennial employees’ decisions in the Provinces of DKI Jakarta and West Java on the payment of zakat on income and services. The study analyzed the behavioral variables of millennial employees which included zakat literacy, the influence of social media and religiosity and the characteristic factors of millennial employees which included: muzakki education level, type of institution where zakat was paid, frequency of zakat payments, and experience in zakat as factors for millennial employees in doing decision to pay zakat on income and services.

Research methods – The millennial working population is represented by residents aged 20 - 39 years. The distribution of questionnaires is done through Google forms. Respondents who filled out the questionnaire were 400 persons whom 64 people of them live in DKI Jakarta Province and 64 people of them live in West Java Province. Data analysis using SEM PLS.

Results – The decision to pay zakat on income and services among millennial employees  in DKI Jakarta Province and West Java Province is influenced by social media and religiosity factors. Information about zakat on social media is believed to be valid by the millennial generation so that it becomes a determining factor in paying zakat on income and services. Another factor that determines the millennial generation in paying zakat on income and services is the literacy aspect, namely understanding the amount of zakat and the terms in zakat, mustahik, muzakki, amil, nishab. Furthermore, millennials who regularly follow studies on Islam tend to pay more attention to paying zakat on income and services. Thus, the aspect of religiosity becomes one of the determining factors. Then the decision to pay zakat on income and services among millennial employees is also influenced by factors of education level, type of zakat payment preference institution, frequency of zakat payment, and experience in zakat. Where the higher the education, the higher the ability to pay zakat and trust in zakat management institutions/institutions are also believed to be factors for millenials as muzakki to pay zakat. Then the frequency of zakat payments that have been made and experience in paying zakat are believed to have an influence in the decision to pay zakat on income and services.

This study aims to analyze the optimal portfolio of corporate sukuk in Indonesia using the risk return analysis approach and the CML (Capital Market Line) model in order to foster investor interest in investing in corporate sukuk instruments. This research was conducted using data throughout 2014 – 2018 and is divided into three measurement periods, namely the crisis period (2014-2016), post-crisis (2016-2018) and long-term (2014-2018), each period representing Indonesia's economic condition. and globally. The results showed that during the crisis period, sukuk with ijarah were superior both in risk and return compared to mudharabah, so that the optimal portfolio composition was to maximize the composition of ijarah. However, in the post-crisis period (improvement of economic conditions) and long-term measurements, the composition of the existing portfolio is more varied depending on the goals of each investor, either to maximize returns or to minimize risk. However, in the post-crisis period (improvement of economic conditions) and long-term measurements, the composition of the existing portfolio is more varied depending on the goals of each investor, either to maximize returns or to minimize risk. The optimal portfolio combination (referring to the benchmark rate) between sukuk mudharabah and sukuk ijarah is 0% mudharabah: 100% ijarah for the period 2014 – 2016 with a return rate of 3.9 and a risk of 0.49, 81% mudharabah : 19% ijarah for the period 2016 – 2018 with a return rate of 2.71 and a risk of 0.65, and 85% mudharabah: 15% ijarah for the period 2014 – 2018 with a return rate of 2.77 and a risk of 0.79. This combination can form an efficient frontier that provides a comparison of the same level of return and risk.

This article seeks to discuss the renewal of thought into a Muslim (internal renewal) through the internalization of universal insights in Islam. Islamic declarations and statements are universal and flexible to the demands of the times will be realized through understanding and understanding of Islam itself in a kaffah (comprehensively). This research is a conceptual study by utilizing sources of literature. The author will review data from the source of the library with various points of view to determine the value of Islamic universality, including in terms of theology, law, humanity, anthropology, and psychology. The author will carry out internalization efforts through the cultivation of a strong understanding of insight into Islam. Thus a Muslim will be able to renew the pattern of thinking precisely according to the purpose because renewal without insight is nonsense.

Kali ini sakinah finance ingin berbagi beberapa pendapatan yang harapannya dapat dijadikan Bujukan untuk mengelola keuangan pribadi atau keluarga kita. Siapa tahu salah satu atau sebagian prinsip prinsip gitu dapat menjadi solusi masalah keuangan kita selama ini. Menurut penelitian dan observasi kami, ada tiga prinsip dalam mengelola keuangan syariah yaitu (1) memasang niat, (2) memastikan apa yang dihasilkan dan dibelanjakan adalah halal dan toyib (3) mulai bekerja atau berbisnis di waktu masih pagi (4) Silaturahim (5) menunaikan zakat Infaq, sodaqoh, hibah wakaf, (6) tobat jika ada kesalahan dan (7) selalu sabar dan syukur. dalam Islam, terkait penggunaan harta, kita diajarkan untuk tidak berlaku pelit atau boros, karena keduanya merupakan sifat yang tercela. Sementara itu sampai hari ini belum ada seseorang dikatakan pelit atau boros dalam penggunaan harta. Kenapa? Karena harta, Tuhan, dan kelas sosial setiap orang selalu berbeda. Lantas bagaimana agar kita tidak terjerumus ke dalam sifat atau situasi politik dan boros tersebut? Kita butuh perencanaan yang tepat berdasarkan prinsip syariah, dan itulah alasan utama kenapa buku ini dihadirkan untuk anda sebuah buku seri sakinah finance tujuh prinsip pendapatan.

Fenomena kurangnya kompetensi auditor syariah internal menjadi dasar untuk pengembangan penelitian ini dengan tujuan untuk menguji pengaruh kompetensi terhadap efektivitas audit syariah internal dengan mempertimbangkan peran dukungan manajemen senior. Data penelitian dikumpulkan menggunakan kuesioner dan diperoleh 34 responden yang merupakan auditor internal di empat bank umum syariah di Indonesia. Penelitian ini menggunakan pendekatan kuantitatif dan pengujian statistik dilakukan dengan menggunakan smart.pls. Hasil penelitian ini menegaskan bahwa kompetensi tidak berpengaruh pada efektivitas audit syariah internal dan dukungan manajemen senior tidak memoderasi hubungan antara kompetensi dan efektivitas audit syariah internal. Dukungan manajemen senior diidentifikasi sebagai moderasi homologizer. Penelitian ini memberikan insight bahwa efektivitas audit syariah internal tidak akan terwujud jika kompetensi auditor internal tidak ditingkatkan, terutama kompetensi terkait pengetahuan auditor tentang muamalah syariah/fiqih atau audit syariah yang dapat dibuktikan dengan kepemilikan sertifikasi terkait syariah. Jika ingin efektivitas audit syariah internal meningkat maka manajemen senior dapat merancang pendidikan berkelanjutan bagi karyawannya untuk meningkatkan kompetensi di bidang syariah/fiqih muamalah/audit syariah

The theory of wealth management suggested that investors and households always behave like rational economic agents and take rational decisions and maximize their utility. However, they have certain constraints based on their socio-economic environment. Their ultimate objective is to get economic, social, psychological, and religious security. Therefore, they expect that the market should behave efficiently to earn a good return. However, since 1987, the financial markets all over the world have suffered several financial crises; in the resultant outcome were numerous bankruptcies and huge fertilities. This posited rather market inefficiency, asymmetric information, or irrational behavior of the market agents. It is also leading to a major problem for the old retired individuals. These dysfunctions are a disposition effect, regret aversion, loss aversion, cognitive dissonance, anchoring, mental accounting, overconfidence, over-and under-reaction, reference-dependent preferences, confirmation biases, herding behavior, hindsight bias, and many other behavioral biases. All these attributes made the financial markets extremely complex. Over and above asymmetric information contributed more to this apathy due to moral hazards and adverse selection.

This study investigates the characteristics of Islamic Consumer Behavior (ICB) articles published in the Scopus-indexed journals between the years 2001 and 2020. The data was collected from Scopus-indexed and Conference articles between the years 2001 and 2020. To obtain the data, publish and perish application was employed. The articles were filtered by using the keyword “Islamic Consumer Behavior”. This study was descriptive and quantitative in nature and used the bibliometric approach. To analyze the data, the VOSviewer software was employed. During 20 years, 142 articles on Islamic consumer behavior were published. The number of publications fluctuated; it increased significantly in 2012, decreased from 10 to 30% between 2013 and 2018 but almost doubled in 2019 and 2020. Based on co-occurrence analysis of 47 keywords in 142 publications, it is evident that there are 5 clusters with the keywords; 1). product, 2). religiosity, 3). model, 4). intention, and 5). value as the most frequent keywords in each cluster. It is also found that between the years 2016 and 2018, there was a shift in the topics from theory and model in 2016, customer relationship in 2017, and loyalty and halal product in 2018. Journal of Islamic Marketing was found to be the dominant publisher on Islamic consumer behaviors with 56 articles Amin was the most productive and impactful author.

The recent studies about the role of Islamic philanthropy in addressing socio-economic problems have been growing and confirming its significant role in overcoming the problem. This is in line with the existence of regulations that support the effectiveness of its role in poverty reduction in Indonesia, such as Law No. 23 of 2011 on Zakat Management and Law No. 41 of 2004 on Waqf. This study has two objectives. First, to analyze the impact of Islamic philanthropy on poverty reduction as the socio-economic problems in Indonesia in the short and long run. Second, to analyze the effectiveness of integrated Islamic commercial and social-economic or finance to address the poverty compared to unintegrated one. This study used Auto-Regressive Distributed Lag (ARDL) approach to analyze annual data for the period of 2002-2019 while investigating the long and short-run relationships among variables. It found that Islamic philanthropy reduces poverty both in the short and long run, particularly in the integration of Islamic social and commercial finance in a single model. The government should therefore include Islamic philanthropy or other Islamic social finances as a fundamental strategy for building financial stability and sustainable development. (Menjamurnya studi-studi terbaru terkait peran filantropi Islam dalam mengatasi masalah sosial-ekonomi telah mengkonfirmasi peran pentingnya dalam mengatasi masalah ini.  Hal ini sejalan dengan adanya regulasi yang mendukung efektivitas perannya dalam pengentasan kemiskinan di Indonesia, seperti Undang-Undang Nomor 23 Tahun 2011 tentang Pengelolaan Zakat dan Undang-Undang Nomor 41 Tahun 2004 tentang Wakaf. Penelitian ini memiliki dua tujuan. Pertama, untuk menganalisis dampak filantropi Islam terhadap penurunan tingkat kemiskinan sebagai sebuah permasalahan sosial-ekonomi di Indonesia, baik dalam jangka pendek maupun jangka panjang. Kedua, untuk menganalisis efektifitas integrasi atau antara filantropi dan komersial dalam kerangka ekonomi Islam dalam mengatasi permasalahan kemiskinan. Penelitian ini menggunakan pendekatan Auto-Regressive Distributed Lag (ARDL) untuk menginvestigasi hubungan jangka pendek dan jangka panjang antara filantropi Islam dan tingkat kemiskinan selama periode tahun 2002-2019. Penelitian ini menemukan bahwa filantropi Islam dapat menurunkan tingkat kemiskinan baik dalam jangka pendek maupun jangka panjang. Penelitian ini juga menemukan bahwa ketika filantropi dan komersial dalam kerangka ekonomi Islam diintegrasikan, tingkat kemiskinan dapat diturunkan baik dalam jangka pendek maupun jangka panjang. Pemerintah seyogiyanya menempatkan filantropi Islam sebagai kebijakan dan strategi fundamental dalam rangka mewujudkan stabilitas keuangan dan pembangunan berkelanjutan.

The Muslim population of Indonesia in 2010 reached 207 million, while the number of poor people reached 27,76 million. On the other hand, Indonesia is prone to natural disaster. By 2015 there are 16,830 villages hit by floods, 3,827 villages experiencing earthquakes, and 7,861 villages experiencing landslides. It is important for Indonesian people to pool fundraising to help each other (ta'awun). One of the schemes is through the microtakaful program. The next issue is the inability of the poor Indonesian to pay a pooling fund. The research is conducted with the aim to analyze the appropriate model of microtakaful in Indonesia using infaq/sadaqah and zakah fund as an alternative payment of subsidy of microtakaful contribution. The research is conducted with several methods, namely the study of indepth literature on the utilization of infaq/sadaqah and zakah fund. The proposed models of utilization of infaq/sadaqah and zakah fund to subsidy ta’awun fund, validate the model through interviews to experts, practitioners and fund managers, process the data through Analytic Network Process (ANP), and determine the best model in utilizing infaq/sadaqah and zakah fund to subsidy ta’awun fund. Fund management model to become the object of research are microtakaful model and subsidy fund from the government model. The study shows that: Firstly, Ta'awun's fundraising in Ind

This study intends to conduct a comparative test of efficiency of the 3 merged state-owned banks using 5 merged Simulation models which will be measured by the 2-stage Data Envelopment Analysis (2-stage DEA) method with Islamic banks and also conventional in Indonesia. This study uses a quantitative approach using the 2-Stages Data Envelopment Analysis (DEA) method. By using in the first stage this method can measure the efficiency score generated from the input and also the output that has been determined, among others, by inputs namely Savings, Administrative Costs, Personal Costs. The outputs used are Financing and Income. In the second stage the method used is Tobit Regression which will see whether there is an influence between the dependent variables determined on the efficiency score. The dependent variable consists of 2 types, namely macrobanks consisting of GDP, Inflation, and Interest Rate. While the other is the Microbank variable including NPF, FDR, and ROA. In this study, 5 combination simulations will also be examined, which will see which combination is the most efficient. From the results of the study, it was found that the efficiency of Islamic banking as a whole is still below the efficiency of conventional banking. Meanwhile, by using 5 simulations of the merger planned by the government, namely combining BRI Syariah, BNI Syariah, and Mandiri Syariah, it was found that the merger of the 3 banks is the most optimal option in terms of efficiency. In this study also found that the dependent variable that affects the efficiency score is the ROA variable. Meanwhile, for other variables, namely NPF, FDR, GDP, Inflation, and also Interest rate does not significantly affect the efficiency score.

    Usul fiqh is a sharia research method that is used to analyze various fiqh laws related to contemporary Islamic economic activities. This paper describes the position of ushul fiqh as a method of learning sharia. This paper also describes the position of ushul fiqh as a method in contemporary economic practice. The results of the study indicate that ushul fiqh is an important aspect in analyzing contemporary fiqh legal findings, especially in Islamic economic activities. The mechanism is referred to the texts of the Qur'an and al-Sunnah, the arguments of Ijma' and Qiyas, as well as the use of the Maslahah and 'Urf methods in an effort to achieve in-depth analysis results related to economic cases that arise at the present time. 

Furthermost previous research emphasis on only electronic word of mouth (e-WOM) from e-commerce (EC-e WOM) and another research focus on social media with e-WOM. The problem is which of the two approaches is more effective and this research focuses on how e-WOM on e-commerce websites and e-WOM on social media affect customers. This research aims to compare between E-Commerce E-WOM and Social Media E-WOM and which one the consumer chooses and to prove that electronic WOM is very effective in supporting the credibility of electronic commerce and supporting sales via social media commerce. This study uses a quantitative method with a Likert scale, tests 4 hypotheses, tests the theory and the consistency of the theory from previous research. The result show EC-e WOM integrity influence is greater for EC-e WOM credibility and contributes an indirect influence to SM-e WOM. Other results show that EC-e WOM source credibility has a very large influence on EC-e WOM credibility and contributes an indirect effect on EC-e WOM adoption and the effect becomes weaker on SM-e WOM adoption. In conclusion, consumers will adopt information from electronic WOM if the information from electronic WOM is credible and integrated.

Kegiatan ekonomi terus mengalami peningkatan. Hal ini tidak terlepas dari kemajuan di bidang teknologi yang menuntut aktivitas manusia mengikuti “irama” perkembangan yang ada. Mashlahah mursalah dipandang sebagai satu metode yang sesuai untuk dijadikan panduan bagi kaum Muslimin dalam melakukan aktivitas ekonomi berdasarkan tuntunan syariat. Metode mashlahah mursalah kerap dijadikan dasar bagi pembentukan suatu hukum untuk aktivitas yang bersifat kontemporari. Tulisan ini akan membahas ketetapan ulama ushul berkaitan dengan mashlahah mursalah dalam membangun fiqh Islam. Tulisan ini juga akan melihat peranan mashlahah mursalah dalam inovasi perkembangan kegiatan ekonomi Islam. Metodologi yang digunakan dalam kajian ini adalah analisis deskriptif dengan data-data dirujuk pada sumber-sumber kepustakaan. Hasil kajian menunjukkan bahwa mashlahah mursalah 

Islamic law is basically a universal law that can be applied without being constrained by time. The elasticity of Islamic law provides answers to every phenomenon that arises so that Islamic law will always be relevant to be applied anytime and anywhere and there is no doubt that Islamic law is eternal. Lately there are many alternative treatments commonly called hypnotherapy. Hypnotherapy is a method of treatment using hypnotic patterns. Hypnotherapy in its development continues to undergo modifications from its practitioners, because each hypnotherapist has values that make it unique. The review of Islamic law on hypnotherapy contracts aims to find out the truth about the practice of hypnotherapy, especially in the PPT Counseling and Psychotherapy Clinic in Yogyakarta. In this study using qualitative methods with data collection through interviews and documentation. The primary informants in the study were hypnotherapists and clients who had undergone hypnotherapy. The data obtained is then analyzed by relating it to Islamic law. The application of the contract in hypnotherapy at the PPT Counseling and Psychotherapy Clinic in the Yogyakarta area does not violate sharia principles. This is because the contract that occurs in hypnotherapy is fulfilled properly. In addition, there is no element of coercion at all, because the hypnotherapy they undergo requires a voluntary state from the client to facilitate the hypnotherapy process

The purpose of this study is to analyze the effect of attitude has a significant influence on agent intentions, the influence of subjective norms on agent intentions, the effect of self-control on agent intentions in marketing halal mart products. This study uses the Theory Planned Behavior method and structured equation modeling (SEM) to see the effect of agents on the intentions and performance of agents to market halalmart products through measurement in terms of attitudes, subjective norms and self-control. The results of the research data show that attitudes, subjective norms and self-control have a significant and positive influence on the intentions of the agents to improve performance in marketing halalmart products.

This research aims to analyze (i) how the productive waqf management strategy carried out by the Yayasan Wakaf Produktif Pengelola Aset Islami Indonesia and (ii) Priority of the benefits, opportunities, costs and risks (BOCR) of the Yayasan's development strategy in managing its productive waqf projects. The respondents in this research consisted of experts, academics and waqf practitioners. The type of this research is qualitative and the data analysis method used in this research is the two-story of Analytic Network Process (ANP) with super-decision software. In this research, the aspects of benefits, opportunities, costs and risks (BOCR) are divided into 2 aspects, first internal aspects; aspects which have point of view from the perspective inside the institution and the second external aspects, aspects seen from the point of view outside the Yayasan. Before the existing strategy of the Yayasan is analysed using the ANP- BOCR method, the researcher maps out the strategy into the business model canvas (BMC). The results of the research, the strategies that have been carried out by Yayasan are (1) Intensive good use of Nazir who is competent and knows knowledge about waqf, and (2) the feasibility study before choosing a business for waqf funds and (3). Productive Collection of waqf funds using a personal approach to potential waqifs. This study shows that the three strategies above which are carried out by the Yayasan - are things that most respondents preferred, showed a rater agreement (W) at the the level of agreement between respondents at the medium level, namely = 0.39 - which is in accordance with the study result of long-term strategy. The Yayasan has proven to generate maximized and sustainable profits which have been distributed to mawquf alayh in accordance with the initial objectives of its project.

This paper discusses the impact of corruption on foreign direct investment (FDI) in Malaysia. Corruption is an abuse of power to obtain personal benefits while foreign direct investment (FDI) refers to a growing investment relationship between nation, people and economic activities. In this regard, this study examines the relationship between corruption and FDI in Malaysia. Since this study need the latest information, this study uses quantitative secondary data. The data were obtained from 1995 to 2016. This study covers time series data, then the statistical test such as Unit Root Test, Vector Autoregression Estimates (VAR) Test, ARDL Method Test, Breusch-Godfrey Test, White Test Heteroskedasticity and the Ramsey Reset Test are used. The results of the study show that when foreign direct investment in a country increases, the level of corruption in the country will increases as well. The corruption can be reduced by certain actions and strict laws.