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Penelitian

Tanggal Publikasi: 25 Jan 2023

STRATEGI PENGELOLAAN ZAKAT: ANALISIS KOMPARASI ERA KHALIFAH UMAR BIN ABDUL AZIZ DAN ERA SEKARANG DI INDONESIA

Indonesia is a country with the largest number of Muslims in the world, this makes the potential of zakat in Indonesia reach 233.8 T. Caliph Umar bin Abdul Aziz is one of the successful caliphs in managing zakat. This study aims to determine the management strategy and distribution of zakat during the caliphate and in Indonesia, which then analyzed the possibility of its application in Indonesia. This analysis uses qualitative methods with literature review and content analysis tools. The results of this study indicate that the fundamental factor of the success of the caliph in the management of zakat is in the legal system governed by the government. So that in the collection, management and distribution becomes centralized. In addition, public trust in the government also determines the success of the caliph in managing zakat.

Penelitian

Tanggal Publikasi: 25 Jan 2023

TAWHIDIC BASED ECONOMIC SYSTEM: A PRELIMINARY CONCEPTION

Tawhidic Based Economic System: A Preliminary Conception. This study investigates contemporary mainstream economic system, does Islamic Economics taking advantage of the shortfall of the system outlined above based on Tawhidical approach? By using descriptive qualitative method this paper proposed the appropriate of Islamic economics theorize that the Islamic system provide the ideal form of a socio-economic order. This paper found that Tawhidic based economics approaches can be focused towards seeing wholes of economics, rather than parts; seeing economics activities as a worship, rather than competition; cultivating the solidarity (charity), rather than individualism and creating the justice, rather than injustice. Thus this paper designed to provide the concept of Islamic economic system with Tawhid as the basis, to fit the philosophy of economic science and reality of human life. The paper also shows the position of Tawhid in the system and theory of economy in creating prosperity and benefit for all mankind comparing to mainstream economic system and their theory

Penelitian

Tanggal Publikasi: 25 Jan 2023

Institutional Support in Managerial Capacity Building and Ghanaian SMEs Growth: The Mediating Effect of Marketing Orientation

This study examined the effect of institutional support in managerial capacity building on marketing orientation and Small and Medium Enterprises (SME) growth. The study employed positivist research paradigm which necessitated the use of survey method. The study sample consisted of 147 participants across the Ghanaian SMEs sector. The study conterminously employed Structural Equation Modelling (SEM) and Smart-Partial Least Square (PLS) to analyze the survey questionnaire data and test the research hypotheses. The study found that institutional support in managerial capacity building had positive and significant impact on SMEs comparative advantage and performance. The study further revealed that marketing orientation has significant on SMEs growth. On contrary, the study found that institutional support in managerial capacity building has insignificant effect on marketing orientation. These results imply that continue investment and support in managerial capacity building and marketing intelligence are required to enhance SMEs growth. We suggest replication of this study in other Sub-Sahara countries since this was limited to only Ghanaian SMEs. 

Penelitian

Tanggal Publikasi: 25 Jan 2023

LOCAL TOURISM DEVELOPMENT AND SOCIO-ECONOMIC CHANGE CHANGE IN BELITUNG

This study aims to describe the implications of socio-economic change caused by tourism development and to explore the relationship between society and tourism from a sociological perspective. By using a qualitative approach with a case study research design, this study analyses data that was obtained through observation, documentation, and interviews. The participants involved were the local community living in Keciput village, the Keciput village staff members, the Tanjung Kelayang Beach tourism manager, and the Belitung Regency tourism office staff members. The study found that the tourism development of Keciput village had caused changes in the social and economic life of the local communities. In terms of social life, the emergence of tourism development had caused interactions to decrease. Previously, when the interactions among the people were still very intense, the economy of the community was also on the rise. However, ever since the tourism development took place, it has changed the people’s type of livelihood: where previously they had worked as fishermen, they are now working as transport services fishermen. The economic value of tourist activities is also classified into a higher category because the yield from the marine sources is very dependent on the season.

Penelitian

Tanggal Publikasi: 25 Jan 2023

Identifying and prioritizing factors of the formation of investment strategy in the Ghana’s downstream oil and gas industry

We present a new model to identify and prioritize factors affecting small and medium enterprises (SMEs) investment intentions by integrating existing models. Structured questionnaire is used to sample respondents from the Ghanaian SMEs between 2017 and 2018. Data analyses have been conducted using variancebased Smart Partial Least Square (SmartPLS) technique. The major findings of the study are that macro environment factors, resource competitive strategies and oil and gas policy-specific factors are the significant determinants of SMEs investment intentions. Again, the study revealed that the resource competitive strategies significantly mediate the relationship between macro environment factors, industry force, oil and gas policy support and investment intentions. These results are robust and consistent with resource-based view, theory of constraint and theory of strategic positioning. Moreover, these results contribute new knowledge towards developing investment strategy for the downstream oil and gas industry. Besides, these findings have managerial implications needed by policy makers to renew commitment and provide the needed framework to investors to enhance indigenous participation in the industry.

Penelitian

Tanggal Publikasi: 25 Jan 2023

ISLAMIC FINANCIAL DEVELOPMENT, ECONOMIC GROWTH AND CO2 EMISSIONS IN INDONESIA

This study examines the dynamic relationship between CO2 emissions, Islamic financial development and economic growth in Indonesia, using the Environmental Kuznets Curve (EKC) approach over the period 2000-2018. Employing ARDL and ECM testing to examine the existence of long- and short-run relationships between the variables, we found that no EKC’s support existence in Indonesia. The study also found no dynamic short-run relationship between growth, Islamic finance development and CO2 emissions. The long-run findings suggest that CO2 emissions from transport; other sectors, excluding residential buildings and commercial and public services; and the residential buildings and commercial and public services sectors are significantly associated with Islamic finance development in Indonesia. Hence, the findings of the study show that the country may need to adjust its CO2 emissions and promote eco-friendly and energy-saving activities to protect nature through Islamic finance development Strength and cost-efficiency.based financial sector development, especially in improved loans for business, would be valuable to limit CO2 emissions

Penelitian

Tanggal Publikasi: 25 Jan 2023

Do Industry Forces Affect Small and Medium Enterprise’s Investment in Downstream Oil and Gas Sector? Empirical Evidence from Ghana

There is the need to reexamine the nexus between industry forces and investment behavior due to mixed and ambiguous results in most previous studies. The purpose of this study is to investigate how the antecedents of industry forces affect investment behavior of Small and medium enterprises (SMEs) in Ghana’s downstream oil and gas sector. The SMEs manager’s perceived benefits of oil and gas trade have also been examined. A cross sectional survey methodology has been used to collect data from 475 Ghanaian SMEs via structured questionnaire. Data have been analyzed using partial least square method. Using exploratory factor analysis and multiple regression analysis our results reveal that threat of entry, competitive rivalry, power of suppliers and power of buyers are related to SMEs investment behavior. We find insufficient empirical evidence to support the relationship between threat of substitutes and investment behavior. Our substantive evidence further show that SMEs managers/owners have high expectation from the oil and gas trade notably: High earnings, employment opportunities, improvement in infrastructure and service extension to Ghanaians. Our robust results are partially consistent with Porters’ five forces model. These results have important implication on oil and gas investment and industrial restructuring to facilitate SMEs participation in the sector.

Penelitian

Tanggal Publikasi: 25 Jan 2023

Does the Capital Structure Matter for Islamic Microfinance Institutions?

One of the leading and contemporarily become prominent issue in the finance institutions is the capital structure. Islamic microfinance institutions as one of instrument to solve the poverty problem have risen to the forefront as invaluable institutions in the development process. Since capital constraints have precluded the expansion of microfinance programs and microfinance institutions have had various degrees of performance and sustainability, the question of how best to finance these organizations is a key issue. This paper attempt to explore how changes and variety source of fund in capital structure could improve Islamic microfinance institutions efficiency and financial performance.

Penelitian

Tanggal Publikasi: 25 Jan 2023

SMALL AND MEDIUM ENTERPRISE’S INTERNAL RESOURCES AND INVESTMENT DECISIONS IN GHANA: THE RESOURCE-BASED APPROACH

We report new evidence on Small and Medium Enterprises’ (SMEs’) internal resources, i.e investment capital, business stability, customer size, type of ownership, legal status, industrial structure and location on investment decisions in the Ghanaian oil and gas sector between 2016 and 2017. Overall, we find that SMEs of larger business size, with large investment capital, large fixed assets, more business stability, structured business ownership, large customer size, registered status, operations in urban locations and reinvested annual profits -- are more likely to invest in Ghanaian oil and gas sector. Per contra, the results reveal that industrial structure has no influence on SMEs’ investment decisions. Additionally, our findings are most robust to SMEs that choose to invest in the oil and gas value chain which is consistent with the resource-based theory. This empirical study has been conducted through a survey. Data has been collected using a stratified sampling technique and structured questionnaires with 245 SMEs across diverse industries. The survey data has been analyzed using binominal logit regression and Chisquare test. The results are expected to be of substantial importance for investment decisions in the domestic business environment. We strongly recommend the replication of this study in other emerging oil and gas economies.

Penelitian

Tanggal Publikasi: 25 Jan 2023

Had Kifayah Zakah and Adequacy of Income Redistribution: A Proposal Framework

Social security systems traditionally serve a dual purpose: they maintain acquired living standards in the event of the materialization of social risks and combat poverty by guaranteeing adequate minimum income. In this paper we consider Zakat as an important mechanism that strengthens the economy of the entire society by providing Had kifayah as a way to redistribute income. Zakat is also a source of social security to the community, especially to those under inadequate living standards. Had Kifayah Zakat can work as a minimum standard to manage redistribution of income, thereby reducing poverty and balancing economic growth in our society.

Penelitian

Tanggal Publikasi: 25 Jan 2023

Consumerism in Personal Finance: An Islamic Wealth Management Approach

The aims of this study are to understand the causes and impacts of consumerism on personal finance and find the solution to this problem by using Islamic wealth management. By using thematic analysis this study reviewing consumerism from the perspective of personal finance in Islamic wealth management approach. This study found that the causes of consumerism involve both external and internal factors. The impacts of consumerism on personal finance are the debt trap, no productive and charity allocation. An exact number of maximum consumption cannot be set for every individual or family, but they are all agreed that allocating income should be based on the right priority scale. The second finding is we propose Islamic Wealth Management (IWM) approaches in reducing the problem of Consumerism.

Penelitian

Tanggal Publikasi: 25 Jan 2023

Baitul Mal and Legal Constraint: Public Wealth Management in Malaysian Context

Baitul-Mal is normally known as a charitable institution. This point is true because presently Baitul-Mal role is more prominent in terms of providing assistance and charitable contributions and donations to the public. In essence, the original scope of Baitul-Mal covers a wider role compared to the current concept of Baitul-Mal. If we view from the context of Baitul-Mal at the early Islam, it turns out that Baitul-Mal is the only and center for the treasury of the state, but in the Malaysian context, scope and functions of Baitul-Mal are limited by the legal constraint. This paper is aimed to analyze the legal constraint and propose some procedures to empower the function and resource mobilization of Baitul-Mal. This paper will also expose that to improve the functions it can be done by using Islamic financial instruments.

Penelitian

Tanggal Publikasi: 25 Jan 2023

ISSUES AND ECONOMIC ROLE OF WAQF IN HIGHER EDUCATION INSTITUTION: MALAYSIAN EXPERIENCE

Issues and Economic Role of Waqf in Higher Education Institution: Malaysian Experience. As early as 1980, the Malaysian federal government’s spending on education, was the highest in East Asia and higher than the OECD average of 3.4% of GDP. This demonstrates that the Malaysian Government has big expenses from educational sector and respectively is amenability for Malaysian economic budget. In other side Waqf in Malaysia is one of large financial source that has not been fully explored. By using qualitative methodology through content analysis this paper attempt to explore the issues and economic role of Waqf in Malaysia, especially in Higher Education Institution (HEI) and attempt to study how Waqf fund empowering the education. This study found that taking the que from the institutions of Waqf, the exploration and development of waqf fund can be exalarate through the formation of formal organizations at state and federal level and rearrange the Malaysian educational budget and policy to support the better quality of HEI.

Penelitian

Tanggal Publikasi: 25 Jan 2023

Business Strategy Based on the Comparison of Sun Tzu and Khandaq War Management Strategy

Among the business strategy models that have developed so far, some use military strategy as a business strategy model. Business strategy has many similarities to military strategy, and one of them is Sun Tzu's war strategy. In the history of Islam, there is a war strategy of the Prophet SAW whose principle is similar to Sun Tzu's war strategy, this strategy is the Khandaq war strategy. It is necessary to research to compare the principles of Sun Tzu's war strategy and the Khandaq War. This research aims to; 1). Discover the principles of Sun Tzu's war strategy and Khandaq's war strategy, 2). Compares the two principles of Sun Tzu's war strategy and Khandaq's war strategy and 3). Formulating the principles of business strategy as a result of the comparison of the principles of Sun Tzu's war strategy and Khandaq's war strategy. The research uses a qualitative approach and to analyze the data, the Analytic Network Processing (ANP) method is used. The data was obtained through interviews with 18 selected respondents, consisting of 9 sharia economics academics and 9 sharia business practitioners.This study found; 1). Khandaq war and Sun Tzu war, have the same 6 main strategic principles (goal formulation, condition calculation, strategy determination, strategy implementation, control strategy, and leadership) and can be used in business strategy, 2). Interesting findings from this study are that there are differences in the forming indicators and 3). The results of the preparation of ANP compose the principles of business strategy as a result of the comparison of the strategies of Sun Tzu and Khandaq, namely the principles of leadership, then the formulation of objectives, implementation strategies, control strategies, determination of strategies and calculation of conditions with all forming indicators. So that the priority principles of the ANP processed strategy can be used as the principles of a new business strategy.

Penelitian

Tanggal Publikasi: 25 Jan 2023

MEDICAL ETHICS IN A MULTICULTURAL COUNTRY: DIFFERENCES IN PRINCIPLES AND PRACTICES AMONG MUSLIMS AND BUDDHISTS

Religion plays an imperial role in the ever-changing healthcare system of Malaysia. The Malaysian, being a multi-racial society, has to adapt and accommodate various practices of religion from different cultural and religious backgrounds. It is this diversity that demands the understanding of the different ideologies of faith as a necessity to the healthcare giver such as doctors, nurses, and paramedics. This article aims to compare the principles and practices of the official religion of Malaysia, Islam, as compared to the mainstream religion of the Chinese, which is Buddhism. The discussions focus on the general beliefs and practices of these two religions, the approach towards health and disease and dealing with the issues of death and dying.

Penelitian

Tanggal Publikasi: 25 Jan 2023

JARINGAN KEILMUAN HADIS DAN KARYA-KARYA HADIS DI NUSANTARA

Perkembangan keilmuan Islam di Nusantara tidak lepas dari perkembangan hubungan antara muslim Nusantara dengan Haramain sebagai salah satu pusat ilmu dan pendidikan Islam. Abad 17 merupakan masa yang menjadi titik tolak bagi perkembangan sosio-intelektual muslim Nusantara. Pada abad tersebut mula terhasil karya-karya ilmiah karangan Ilmuan Nusantara dalam pelbagai bidang keilmuan termasuk dalam bidang hadis. Artikel ini cuba memaparkan perkembangan pengajian hadis serta peranan institusi pendidikan di Haramain yang telah berjaya melahirkan ramai ilmuan Islam Nusantara. Selain itu, artikel ini ingin menggali khazanah keilmuan para ilmuan Nusantara silam khususnya dalam bidang hadis serta jaringan keilmuan di kalangan ulama Nusantara. Kajian mendapati bahawa penerbitan karya hadis di Nusantara ditandai dengan lahirnya kitab Sharh al-Latif cala Arbac in Hadith karangan Syeikh Abd al-Racuf al-Fansuri. Selepas itu banyak karya-karya hadis yang dihasilkan oleh para ilmuan Nusantara sehinggalah kitab Misbah al-Zalam Sharh Bulugh al-Maram yang dikarang oleh Syeikh Muhammad Muhajirin Amsar. Selain itu, artikel ini juga membuktikan adanya ketersambungan sanad keilmuan antara para Ulama Nusantara dalam kalangan mereka sehingga membentuk satu jaringan keilmuan.

Penelitian

Tanggal Publikasi: 25 Jan 2023

DOES FRACTIONAL RESERVE BANKING SYSTEM EXIST IN INDONESIAN ISLAMIC BANKING?

Fractional Reserve Banking is a banking and financial system used in most countries around the world. This research aims to look at its impact empirically and at the contributions given from the components of fractional reserve banking against inflation that occurs in Sharia Commercial Banks and Sharia Business Unit. The fractional reserve banking components covered in these studies are statutory reserve requirements, total deposit, total financing, Mismatch Ratio, and total non-performing financing. This research used VAR VECM and ECM as analysis tools and collected secondary data from Indonesia’s Financial Service Authority (OJK) that spanned from June 2014 to September 2018. The results of this research found that the largest contributor on Sharia Commercial Bank (BUS) is the Statutory Reserve Requirement while in sharia Business Unit the results showed that Third Party Fund and Mismatch ratio provided the greatest contributions against inflation. Moreover, it shows that fractional reserve banking occurred both in UUS and BUS. To prevent fractional reserve banking from affecting in the future, the control of mismatch and introducing the irrevocable investment account might be the solutions.

Penelitian

Tanggal Publikasi: 25 Jan 2023

Do Islamic Bankers Optimist on Islamic Banking Growth? Case Study of Islamic Banking Employees in Indonesia

This study aims to determine the perceptions of Islamic banking employees on the growth of Islamic banking in the future. This research is also to find out the influence of products and services, experience and skills, marketing of products and services, and practices of Islamic banking on the growth of Islamic banking. The sample used in this study was 100 respondents of Islamic banking employees in Indonesia. The method used is path analysis. The results of this study indicate that the perception of products and services has no significant and positive effect on Islamic banking practices, perceptions of experience and skills have a significant and positive effect on Islamic banking practices, perceptions of product and service marketing have a significant and positive effect on sharia banking practices, then product perceptions and services have no significant and positive effect on the growth of Islamic banking, perceptions of experience and skills have no significant and positive effect on the growth of Islamic banking, perceptions of product and service marketing have a significant and positive effect on the growth of Islamic banking, and the perception of Islamic banking practices has a significant and positive effect on growth of Islamic banking. From the results of this study, it is expected that Islamic banking employees need to improve the practice of Islamic banking in the perception of products and services. Then sharia banking employees also need to improve products and services and perceptions of experience and skills in the growth of Islamic banking.

Penelitian

Tanggal Publikasi: 25 Jan 2023

FAKTOR– FAKTOR YANG MEMPENGARUHI MISMATCH PADA BANK UMUM SYARIAH DAN UNIT USAHA SYARIAH DI INDONESIA

This research aims to determine the effect, to find out the shock and to find out how much the contribution given by variables to the mismatch that occurs in Islamic Commercial Banks and Sharia Business Units. The variables used in this studies are total Third Party Funds Saving, total Third Party Funds Investment, total Uncertain Financing, total Certain Financing and Non Performing Financing (NPF). This research method using Error Correction Model (ECM) and Vector Autoregression and Vector Error Correction Model (VAR-VECM) with data starting from June 2014 - September 2018. The results of this research indicate that the main cause of Mismatch in Sharia Commercial Banks is the distribution of funds while the main cause of Mismatch in Sharia Business Units is withdrawal of Third Party Funds

Penelitian

Tanggal Publikasi: 25 Jan 2023

The Effect of Radio Broadcasting, Nganggung Traditional, Local Influencer, and Education to Sharia Financial Literation’s Level of Central Bangka’s Society

This research was conducted to see the influence of Radio Broadcasts, Traditional Singing, Local Influencers, and Education on the Level of Islamic Financial Literacy in the People of Central Bangka. This type of research is a quantitative study using the regression analysis model. To measure the dependent variable indicators the ordinal scale is used (0-1), and the independent variables are using the Likert scale (1-4). The results of this study indicate that the results of simultaneous testing show that all variables have a significant effect on Islamic financial literacy. This can be seen from the results of the Chi-Square test. However, in the significance test, one of the variables was not significant, namely education, only 3 variables had a significant effect, namely radio broadcasts, local influencers, and culture (nganggung). Based on these statistical results, it can be understood that through radio broadcasts with sharia economic programs, the public gets important information about this matter. Likewise, influential figures such as traditional leaders, community leaders, and religious leaders who have adequate sharia economic insight will contribute to increasing sharia economic literacy. Through the Nganggung Culture, the community will receive this information more quickly