Journal of Islamic Economics Lariba
https://journal.uii.ac.id/JIELariba
<p>The Journal of Islamic Economics Lariba provides a platform for academicians, researchers, lecturers, students, and others having concerns about Islamic economics to communicate their research using a qualitative or quantitative approach.</p> <p>The journal welcomes contributions on the following topics:</p> <ul> <li>Islamic finance</li> <li>Halal food</li> <li>Muslim-friendly travel</li> <li>Modest fashion</li> <li>Halal media and recreation</li> <li>Halal pharma and cosmetics</li> <li>other relevant Islamic economic studies.</li> </ul>Universitas Islam Indonesiaen-USJournal of Islamic Economics Lariba2477-4839<p>Authors who publish with this journal agree to the following terms:</p> <ol type="a"> <li>Authors retain copyright and grant the journal right of first publication with the work simultaneously licensed under a <a href="https://creativecommons.org/licenses/by-sa/4.0/" target="_blank" rel="noopener">Creative Commons Attribution License</a> that allows others to share the work with an acknowledgement of the work's authorship and initial publication in this journal.</li> <li>Authors are able to enter into separate, additional contractual arrangements for the non-exclusive distribution of the journal's published version of the work (e.g., post it to an institutional repository or publish it in a book), with an acknowledgement of its initial publication in this journal.</li> <li>Authors are permitted and encouraged to post their work online (e.g., in institutional repositories or on their website) prior to and during the submission process, as it can lead to productive exchanges, as well as earlier and greater citation of published work (See <a href="http://opcit.eprints.org/oacitation-biblio.html">The Effect of Open Access</a>).</li> </ol>The impact of non-performing financing and operational efficiency on the stability of Islamic banks in Persian Gulf countries
https://journal.uii.ac.id/JIELariba/article/view/34567
<p><strong>Introduction</strong><br />Islamic banking has become an integral part of the global financial system, particularly in the Persian Gulf region. Due to its reliance on profit-sharing and non-interest-based operations, Islamic banking faces unique challenges in maintaining stability, particularly when financing problems arise. <br /><strong>Objectives</strong><br />This study analyzes the effect of Non-Performing Financing (NPF), operational efficiency, and input-output optimization on the stability of Islamic banks in the Persian Gulf countries. <br /><strong>Method</strong><br />This study employs a quantitative approach using panel data regression models, specifically the random effects model (REM), to analyze data from 27 Islamic banks in eight Persian Gulf countries. The study includes classical assumption tests, such as normality, multicollinearity, and heteroscedasticity, followed by hypothesis testing using t-tests and F-tests.<br /><strong>Results</strong><br />The results indicate that both NPF and efficiency have significant negative impacts on the stability of Islamic banks. The t-test reveals that NPF has a probability value of 0.0447 and a negative coefficient, suggesting that higher NPF levels reduce bank stability. Similarly, operational efficiency, as measured by the input and output variables, also shows a negative influence on stability, with a probability value of 0.0435. The F-test confirms that NPF, input, and output significantly affect Islamic bank stability, with an F-statistic probability value of 0.038223.<br /><strong>Implications</strong><br />These findings have important implications for the management of Islamic banks in the Persian Gulf countries. Effective management of NPF is critical for maintaining stability, and operational improvements in efficiency can also enhance financial performance. Islamic banks should focus on improving their financing practices, including better monitoring problematic loans and diversifying revenue streams to reduce reliance on financing income.<br /><strong>Originality/Novelty</strong><br />This study contributes to the understanding of Islamic bank stability by exploring the combined effects of Non-Performing Financing (NPF) and operational efficiency on bank financial health. By focusing on Islamic banks in the Persian Gulf countries, this study highlights region-specific challenges and offers strategies for mitigating financial risks and enhancing bank resilience through better management of NPF and operational efficiency.</p>Lathifah Zaina SalsabillaTiara Juliana Jaya
Copyright (c) 2024 Lathifah Zaina Salsabilla, Tiara Juliana Jaya
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2024-10-152024-10-1510210.20885/jielariba.vol10.iss2.art1Implementation of policies regarding zakat as a deduction of taxable income: A case study in regencies and city in southern Tapanuli
https://journal.uii.ac.id/JIELariba/article/view/35180
<p><strong>Introduction</strong><br />Zakat plays a crucial role in improving the welfare of the Muslim community in Indonesia. However, Indonesian Muslims face a dual obligation: to pay both zakat and taxes. To alleviate this burden, the government implemented a policy that allows zakat to be deducted from taxable income. This policy aims to encourage zakat payers (<em>muzakki</em>) to distribute their zakat through official institutions such as BAZNAS. Nevertheless, zakat collection by BAZNAS in southern Tapanuli remains relatively low, necessitating an examination of the policy’s effectiveness. <br /><strong>Objectives</strong><br />This study aimed to evaluate the effectiveness of the zakat as a deduction of taxable income in southern Tapanuli and identify the factors affecting zakat collection through official institutions. <br /><strong>Method</strong><br />This study employed a qualitative descriptive approach using empirical methods. Data were gathered from regulations related to zakat as a deduction of taxable income, and from observations of the performance of institutions managing zakat and taxes.<br /><strong>Results</strong><br />This study shows that while zakat can be applied as a deduction of taxable income, its implementation has not yet been optimal. Factors impacting the ineffectiveness of this policy include limited legal impact on payment obligations, administrative complexity, insufficient synergy between zakat and tax offices, lack of public outreach, and societal preference for directly paying zakat to recipients (<em>mustahiq</em>).<br /><strong>Implications</strong><br />The study suggests the need to increase public outreach and synergy among institutions and simplify administrative processes to optimize zakat collection as a tax deduction. These improvements are expected to encourage broader participation in zakat distribution through official channels.<br /><strong>Originality/Novelty</strong><br />This study contributes to the literature on the effectiveness of zakat as a tax deduction in Indonesia, particularly in southern Tapanuli. It offers insights into the challenges and opportunities of implementing this policy at the regional level.</p>Faisal AhmadZuhdi HsbSiti Kholijah
Copyright (c) 2024 Faisal Ahmad
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2024-11-052024-11-0510210.20885/jielariba.vol10.iss2.art2Muthawif concessions in Umrah travel bureau management
https://journal.uii.ac.id/JIELariba/article/view/36284
<p><strong>Introduction</strong><br />In Indonesia, the demand for Umrah services has grown significantly, amplifying the need for skilled muthawif who can support pilgrims both spiritually and logistically. The unique position of muthawif within the Umrah travel ecosystem requires well-structured management to ensure that service quality meets pilgrims' expectations. This study addresses the gaps in understanding how muthawif management practices are implemented within Indonesian travel bureaus and identifies the role of Saudi concessions in shaping these practices.<br /><strong>Objectives</strong><br />The primary objectives of this study are to assess the responsibilities of muthawif within the framework of concessions provided by Saudi and Indonesian authorities and to analyze the management approaches that optimize muthawif roles in enhancing the pilgrim experience. This research also seeks to identify the operational challenges faced by muthawif in balancing their duties across various management structures.<br /><strong>Method</strong><br />A qualitative field research approach was adopted, involving interviews and observations with key stakeholders such as muthawif, Umrah bureau directors, and agency leaders. Data was collected in both Indonesia and Saudi Arabia, allowing for an in-depth exploration of how muthawif function within different organizational and regulatory contexts. This approach provides contextual insights into the management practices influencing muthawif performance.<br /><strong>Results</strong><br />The study found that muthawif in Indonesia operate within three main categories: government-managed, agency-affiliated, and freelance. Each type of muthawif has different levels of flexibility and operational scope, impacting the quality and consistency of guidance services. Saudi government concessions offer operational flexibility, while Indonesian travel bureaus emphasize standardized training and service quality aligned with Islamic principles. These differences impact how muthawif adapt to the needs of diverse pilgrim groups.<br /><strong>Implications</strong><br />The findings suggest that structured management and regulatory concessions are crucial to enhancing muthawif performance and service quality. Collaborative efforts between Indonesian travel bureaus and muthawif agencies contribute to a more professional and efficient Umrah guidance service. This study provides practical insights for travel bureaus and policymakers seeking to improve muthawif training standards and management practices within the Umrah industry.<br /><strong>Originality/Novelty</strong><br />This research expands the literature on Umrah service management by focusing on the specific roles and concessions governing muthawif. It introduces new perspectives on optimizing muthawif performance through coordinated management approaches and cross-agency collaboration, addressing a critical area of service quality for Indonesian pilgrims undertaking Umrah.</p>Afanin Atiqa Fallahkurnia muhajarah
Copyright (c) 2024 Afanin Atiqa Fallah, Kurnia Muhajarah
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2024-11-102024-11-1010210.20885/jielariba.vol10.iss2.art3Cashless society trend: A bibliometric analysis and Islamic economic research opportunities
https://journal.uii.ac.id/JIELariba/article/view/34462
<p><strong>Introduction</strong> <br />Rapid technological developments, especially in the banking sector, such as digital or non-cash payments, have encouraged people to switch from traditional cash transactions to non-cash transactions. This behavioral change has become a trend in a cashless society. <br /><strong>Objectives</strong> <br />This study aims to analyze the behavior of a cashless society based on publications indexed in the Scopus database. <br /><strong>Method</strong> <br />This study utilizes bibliometric analysis using R Biblioshiny to collect and analyze literature related to cashless society and Sharia principles. <br /><strong>Results</strong> <br />The results show a significant increase in publications related to the cashless society since 2015 until 2023. Additionally, the most analyzed documents include articles, conference papers, and books. Batiz Lazo B is the most cited and influential author and frequently used keywords include cashless society, economics, Malaysia, payment methods, technology adoption, digital payment, and others. <br /><strong>Implications</strong> <br />The study highlights the importance of the shift towards non-cash transactions, which offer significant benefits, underscoring the need for further research and development in the future. <br /><strong>Originality/Novelty</strong> <br />This research contributes to the recent literature on cashless society and its relations with Sharia-compliant practices in Muslim society.</p>Faiq Shidqi RabbaniSebastian Herman
Copyright (c) 2024 Faiq Shidqi Rabbani, Sebastian Herman
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2024-11-182024-11-1810210.20885/jielariba.vol10.iss2.art4The influence of technology perception, perceived risk, and complaint handling on customer interest in using Internet banking at Bank Syariah Indonesia KCP Sungai Penuh
https://journal.uii.ac.id/JIELariba/article/view/35204
<p><strong>Introduction</strong> <br />Bank Syariah Indonesia actively uses information technology through digital services. However, not all digital services have a large user base, such as Internet banking, which has fewer users than m-banking. <br /><strong>Objectives</strong> <br />This study analyzed the impact of perceptions of technology, risk, and complaint handling on customer interest in using Internet banking services at Bank Syariah Indonesia KCP Sungai Penuh.<br /><strong>Method</strong> <br />This study used a quantitative descriptive research design. The study population comprised Bank Syariah Indonesia KCP Sungai Penuh customers. A sample of 100 customers was used to collect data through questionnaires and documentation. The data were analyzed using a Structural Equation Model (SEM) with Smart PLS 3.2.9.<br /><strong>Results</strong> <br />The results show that perceptions of technology do not significantly influence customer interest in using Internet banking services at Bank Syariah Indonesia KCP Sungai Penuh. Meanwhile, risk significantly influences customer interest, and complaint-handling does not affect customer interest in the service.<br /><strong>Implications</strong> <br />The findings suggest that Bank Syariah Indonesia KCP Sungai Penuh should increase outreach and promotional efforts to introduce Internet banking to potential customers, increasing their interest and participation in utilizing this service.<br /><strong>Originality/Novelty</strong> <br />This study contributes to the body of knowledge on risk perception among customers who adopt Internet banking in the Islamic banking sector.</p>Yeni RafinaElex SarmigiDafiar SyarifYoga Travilo
Copyright (c) 2024 Yeni Rafina, Elex Sarmigi, Dafiar Syarif, Yoga Travilo
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2024-11-232024-11-2310210.20885/jielariba.vol10.iss2.art5The impact of perceived brand integrity in increasing brand legitimacy in halal cosmetics among Muslim customers in Jakarta, Indonesia
https://journal.uii.ac.id/JIELariba/article/view/35249
<p><strong>Introduction</strong> <br />The rapid growth of halal cosmetic consumption has forced companies to compete in the Indonesian market. Many halal cosmetic companies use modern strategies that involve environmental concerns. <br /><strong>Objectives</strong> <br />This study aims to analyze the role of perceived brand ethics and environmentally friendly packaging in influencing brand legitimacy through perceptions of brand integrity in halal cosmetics. <br /><strong>Method</strong> <br />This research used quantitative methods. The research population was users of halal cosmetics, so a sample of 200 respondents was obtained using nonprobability sampling techniques. The questionnaires were distributed with five-point Likert-scale measurements. The analysis technique used in this study was structural equation modeling using IBM SPSS AMOS. <br /><strong>Results</strong> <br />The results prove that perceived brand ethics and environmentally friendly packaging have a positive effect on perceived brand integrity. Perceived brand integrity has a positive effect on brand legitimacy and can mediate the influence of perceived brand ethics on brand legitimacy. <br /><strong>Implications</strong> <br />The implication of this research is that it is hoped that companies will continue to improve their brand ethics by continuing to comply with brand ethics laws. Furthermore, it can provide education to consumers regarding environmentally friendly cosmetics and increase brand integrity through communities such as halal cosmetic brands. <br /><strong>Originality/Novelty</strong> <br />This study contributes to the literature on halal cosmetics in Indonesia, one of the largest Muslim markets. </p>Intan Kemala Hidayat KartasasmitaKurniawati Kurniawati
Copyright (c) 2024 Intan Kemala Hidayat Kartasasmita, Kurniawati Kurniawati
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2024-12-032024-12-0310210.20885/jielariba.vol10.iss2.art6Examining the relationship between organizational intelligence, religious commitment, spiritual well-being, and organizational agility among multireligious creative economy businessmen in Yogyakarta
https://journal.uii.ac.id/JIELariba/article/view/35203
<p><strong>Introduction</strong> <br />Organizational agility, a novel concept in the business domain, measures the speed and flexibility with which organizations can face inevitable disruptions, particularly among creative economy actors with a religious foundation. <br /><strong>Objectives</strong> <br />This study examines the causal relationship between organizational intelligence, religiosity, spirituality, and organizational agility. <br /><strong>Method</strong> <br />The study employed a multivariate associative hypothesis testing approach using path analysis to investigate the relationships among organizational agility (OA), organizational Intelligence (OI), religious commitment (RC), and spiritual well-being (SWB). Measurement instruments, including the agility capabilities scale, religious commitment scale, spiritual well-being scale, and organizational intelligence scale, were adapted and validated as psychometric tools within Indonesian society's specific cultural and behavioral context. The sample consisted of 150 creative economy actors involved in religious organizations and engaged in the fashion, culinary, and handicraft sectors. Data analysis was conducted using IBM SPSS Statistics and SmartPLS. <br /><strong>Results</strong> <br />The findings indicate that religious commitment does not significantly impact organizational agility but positively and significantly influences organizational intelligence. Furthermore, organizational intelligence significantly contributes to organizational agility. However, spiritual well-being does not significantly influence organizational agility or intelligence. <br /><strong>Implications</strong> <br />These findings have implications for practitioners and decision-makers who want to develop successful business strategies in the religious-based creative economy sector. They emphasize the importance of religious commitment and the enhancement of spiritual values. <br /><strong>Originality/Novelty</strong> <br />This study contributes to the literature on organizational intelligence, religiosity, spirituality, and organizational agility in creative economy businesses. </p>Mujahid QuraisyAnton Priyo Nugroho
Copyright (c) 2024 Mujahid Quraisy, Anton Priyo Nugroho
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2024-12-172024-12-1710210.20885/jielariba.vol10.iss2.art7Prospects for the development of Sharia financing contract on KPR Syariah iB Hebat at BPRS Dana Amanah Surakarta
https://journal.uii.ac.id/JIELariba/article/view/35491
<p><strong>Introduction</strong><br />The KPR Syariah iB Hebat product at BPRS Dana Amanah Surakarta currently uses murabahah, istishna', and MMQ contracts. However, from the perspective of regulations and fatwa, the KPR Syariah can also be developed using the salam contract, IMBT contract, IMFD contract, and MMBT contract.<br /><strong>Objectives</strong><br />This research aims to analyze the prospects for developing Sharia financing contracts on KPR Syariah iB Hebat at BPRS Dana Amanah Surakarta.<br /><strong>Method</strong><br />This research uses a qualitative, descriptive, field research approach. Primary data are in the form of literature review results and field data findings, while secondary data are in the form of other data sources that support primary data, such as books, journal articles, and websites. Data were obtained using observation, interview, and documentation methods and then analyzed using the inductive method.<br /><strong>Results</strong><br />According to the results obtained, BPRS Dana Amanah Surakarta should consider six risks: credit risk, operational risk, compliance risk, liquidity risk, reputation risk, and strategic risk.<br /><strong>Implications</strong><br />Based on the analysis of the characteristics of the KPR Syariah iB Hebat at BPRS Dana Amanah Surakarta, the contract prospects to be developed are the salam contract, IMBT contract, and IMFD contract.<br /><strong>Originality/Novelty</strong><br />This research made an important contribution in the form of contract prospects to be developed in the context of BPRS in Indonesia, which has similarities with KPR Syariah iB Hebat at BPRS Dana Amanah Surakarta. </p>Devid Frastiawan Amir SupMuhammad Irkham FirdausAqil Mutashim Bilhaq
Copyright (c) 2024 Devid Frastiawan Amir Sup, Muhammad Irkham Firdaus, Aqil Mutashim Bilhaq
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2024-12-232024-12-2310210.20885/jielariba.vol10.iss2.art8Analysis of futures trading on the Binance platform from the perspective of Fiqh Muamalah
https://journal.uii.ac.id/JIELariba/article/view/33018
<p><strong>Introduction</strong><br />One of the business transactions that developed in the digital era is futures trading. This type of transaction involves high risk where profit is obtained from the difference between buying and selling, with goods being delivered at a later date. Profits are obtained from price fluctuations on traded commodities. This type of futures trading is also done on the Binance platform. Many traders are interested in this type of trade but do not have sufficient knowledge and understanding, especially regarding Fiqh legality.<br /><strong>Objectives</strong><br />The study aims to explain the practice of futures trading on the Binance platform from the perspective of Fiqh Muamalah. <br /><strong>Method</strong><br />This study is literature research with a juridical-normative approach that relates facts to futures trading cases.<br /><strong>Results</strong><br />The results of this study explain that futures trading on the Binance platform includes bay' al-şarf, a type of money trade in which money is obtained and delivered at a later date. <br /><strong>Implications</strong><br />Futures trading on the Binance platform in Fiqh Muamalah is prohibited because it involves elements of uncertainty <em>(gharar)</em> and speculation <em>(maysir).</em> The exchange rate is uncertain, which can cause one party to benefit and the other party to be harmed.<br /><strong>Originality/Novelty</strong><br />This research contributes to the theory of Fiqh legality in future trading practices. </p>Rifki Zulkarnain M. Roem Syibly
Copyright (c) 2024 Rifki Zulkarnain , M. Roem Syibly
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2024-12-292024-12-2910210.20885/jielariba.vol10.iss2.art9The influence of social media on the decision to boycott Israel-affiliated products among the Muslim community in Jabodetabek
https://journal.uii.ac.id/JIELariba/article/view/34895
<p><strong>Introduction</strong><br />The recent escalation of the conflict between Israel and Palestine triggered a global solidarity movement, including Boycott campaigns against products affiliated with Israel.<br /><strong>Objectives</strong><br />This study aims to analyze the determinants of digitalization's influence on online boycott product buying behavior among Muslim communities in Jabodetabek (Jakarta–Bogor–Depok–Tangerang—Bekasi), the Jakarta Metropolitan Area, or Greater Jakarta. <br /><strong>Method</strong><br />This study's hypothesis is that social media, religiosity, subjective norms, behavioral control, and attitude have a positive and significant influence on boycotting behavior. It used an online survey with a randomly selected sample of 100 respondents. To test the hypothesis, it used structural equation modeling (SEM) with partial least squares (PLS).<br /><strong>Results</strong><br />The results show that social media and religiosity have a positive and significant influence on boycotting attitudes, while subjective norms and behavioral control do not have a significant influence on boycotting attitudes. Boycotting attitude also has a positive and significant influence on buying behavior. The R-square value of the model is 0.763, which means that the independent variables can explain 76.3% of the variability of buying behavior. <br /><strong>Implications</strong><br />This study also provides implications for marketers and policymakers to understand the factors influencing the attitude and behavior of boycotting products affiliated with Israel among Muslim communities in Jabodetabek.<br /><strong>Originality/Novelty</strong><br />This study contributes to the literature on consumer behavior, especially in the context of boycotting products related to political and religious issues. </p>Muhyiddin SyarifSebastian Herman
Copyright (c) 2024 Muhyiddin Syarif, Sebastian Herman
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2024-12-292024-12-2910210.20885/jielariba.vol10.iss2.art10Conceptualizing money creation as a ḥabs in debt market
https://journal.uii.ac.id/JIELariba/article/view/35394
<p><strong>Introduction</strong><br />Monetary creation is one of the major weak points of the in-depth analysis of economic life. The literature on Islamic economics, Islamic finance, and the jurisprudence of contemporary financial transactions is no exception to this rule. The reason is that money is reduced to its functionalist dimensions as a simple means of exchange, and considered a secondary issue with regard to the prohibition of ribāʿ.<br /><strong>Objectives</strong><br />This research proposes a new theoretical framework that conceptualizes money creation as a ḥabs in debt market. This conceptual framework makes it possible to avoid subjecting economic life to the system of monetary creation withholded, in debt and to nourish the illusion of economic growth boosted by debt.<br /><strong>Method</strong><br />The study is based on genealogical method, which strives to trace the origins of things, and fundamentally takes its source from ancient literature on ansāb (lineage), al-awāʿil (things done for the first time), and long history, starting from the question: Where does it come from? It is a question of linking the phenomenon of ḥabs to its source, which is the building of the Kaʿaba by Ādam as the original ḥabs on earth.<br /><strong>Results</strong><br />The first significant result is that ḥabs is a general phenomenon that applies to a range of things. The waqf is only one of a number of possible forms. The second result is that reading the meaning of the word ḥabs allows us to link the various forms of withhold to the origin of life on earth when God ordered Adam to live on earth, then to build the Kaʿaba. The third result is the proposal of a new analytical framework for economic life which considers monetary creation as a ḥabs in debt market. <br /><strong>Implications</strong><br />This study shows that ḥabs is an original conceptual tool which must be fully integrated into the analysis of economic life to broaden perspectives, promote understanding, and open new paths to action, in terms of social and economic policy, to build more resilient societies, while improving quality of life.<br /><strong>Originality/Novelty</strong> <br />This result provides a conceptualization of monetary creation on an unprecedented approach of ḥabs in debt market, and constitutes a basis for the development of policies, that move away from false economic growth boosted by debt, towards modes of existence based on voluntary cooperation, participative administration in community affairs, and the primacy of social purpose over capital. </p>Abderrazak Belabes
Copyright (c) 2024 Abderrazak Belabes
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2024-12-292024-12-2910210.20885/jielariba.vol10.iss2.art11Religiosity and determinants of food consumption in urban and rural communities in Lampung Province
https://journal.uii.ac.id/JIELariba/article/view/36988
<p><strong>Introduction</strong><br />Lampung Province consists of heterogeneous tribes and ethnicities. The majority is Muslim, followed by Protestants, Catholics, Hindus, and Buddhists. This makes Lampung Province known as the earth of ruwai jurai. This condition makes Lampung Province a miniature of the State of Indonesia.<br /><strong>Objectives</strong><br />This study investigates the religiosity and determinants of consumption of urban and sub-urban communities in Lampung Province.<br /><strong>Method</strong><br />This study uses a quantitative research approach with a sample of 262 participants.<br /><strong>Results</strong><br />The findings revealed that there was no significant difference between rural and urban communities in purchasing food. Further, it was revealed that the respondents who made the object were consumers in the modern market with ages between 21-40 years old at 64.9% and with high school and Strata 1 education at 89.7%. Education level and age are the main factors in public consumption both in urban and rural areas. Based on the results of data analysis, it is known that the better understanding of religion a Muslim community has, the more selective they will be in purchasing the products they need. Therefore, it can be concluded that urban and rural communities consume research variables from the aspect of religiosity and economic determinants in the same condition so that modern markets as research locations provide an equal impact on urban and rural communities in consumption. <br /><strong>Implications</strong><br />Stakeholders need to expand permits for the operation of modern markets by paying attention to the economy of traditional economic actors. Other factors, such as improving the quality and equitable distribution of education and increasing information about products both by producers and the government through mass media and social media, are also actively carried out carefully.<br /><strong>Originality/Novelty</strong> <br />This study provides an additional understanding of how religiosity contributes to consumption in societies with differing religious backgrounds. </p>Ahmad HabibiAdib FachriPertiwi Utami
Copyright (c) 2024 Ahmad Habibi, Adib Fachri, Pertiwi Utami
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2024-12-292024-12-2910210.20885/jielariba.vol10.iss2.art12Homo Islamicus as an agent of socio-economic change: A study in the perspective of Surah An-Nisa
https://journal.uii.ac.id/JIELariba/article/view/37560
<p><strong>Introduction</strong><br />There are several challenges faced by Homo Islamicus when dealing with the conventional economic principles that often dominate economic practice today.<br /><strong>Objectives</strong><br />This research aims to explore the role of Homo Islamicus in creating social and economic welfare and how Islamic values can be integrated into everyday economic practices. This research focuses on the concept of Homo Islamicus as an agent of social and economic change in the context of modern society, with an emphasis on the perspective of Surah An-Nisa. <br /><strong>Method</strong><br />The method used in this research is a qualitative analysis of the Qur'anic texts, especially Surah An-Nisa, and a literature study on the application of Islamic economic principles in a modern context. The scope of the research includes an analysis of the differences between Homo Islamicus and Homo Economicus, where Homo Islamicus is not only oriented towards material gain but also considers moral and social responsibility.<br /><strong>Results</strong><br />The results show that although there are challenges in applying the concept of Homo Islamicus, such as the gap between ideality and reality, this concept remains relevant as an ethical framework for building a more just and prosperous society. Homo Islamicus plays an essential role in maintaining justice in economic transactions and contributing to the welfare of society through the practice of zakat, infaq, and sadaqah.<br /><strong>Implications</strong><br />The conclusion of this research confirms that sustainable social and economic welfare should be achieved. An adaptive and educative approach is needed in applying the principles of Homo Islamicus. This research recommends strengthening Islamic economic education, emphasizing social responsibility and ethics in every economic interaction.<br /><strong>Originality/Novelty</strong> <br />This study contributes to the body of knowledge on Homo Islamicus in the Quranic perspective as a basis for the philosophy of Islamic economics. </p>Salisa AminiAzhari Akmal TariganRahmi SyahrizaIsmail Ismail
Copyright (c) 2024 Salisa Amini, Azhari Akmal Tarigan, Rahmi Syahriza, Ismail Ismail
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2024-12-302024-12-3010210.20885/jielariba.vol10.iss2.art13Reuse of dinar and dirham in the frame of contemporary Muamalah: A study in South Kalimantan, Indonesia
https://journal.uii.ac.id/JIELariba/article/view/37577
<p><strong>Introduction</strong><br />The Muslim community is making several efforts to reuse the dinar and dirham for transactions and other purposes in the current era.<br /><strong>Objectives</strong><br />This research examines the phenomenon of reusing dinar and dirham as alternative financial instruments in the South Kalimantan region. It aims to reveal the reasons behind the reuse of dinar and dirham and the form of activities carried out by the movement carried out by the contemporary Muslim community. <br /><strong>Method</strong><br />This research method uses a qualitative approach with a case study on Komunitas Muamalah Kalsel, with data collection techniques through interviews, observations, and documentation studies.<br /><strong>Results</strong><br />The results show that the main reason for using dinar and dirham is theological, namely an effort to restore more authentic economic practices according to Islamic teachings, with legitimacy from local clerical figures. The results also reveal the existence of a unique alms distribution model through Pasar Muamalah, which exchanges fiat money into dirhams to be distributed to underprivileged communities. The results also identified three critical aspects of a faith-based financial system, namely (1) the stability of the intrinsic value of precious metals, (2) criticism of the fiat-based financial system that is prone to inflation, and (3) efforts to uphold the principle of economic justice in transactions.<br /><strong>Implications</strong><br />The Muslim community can consider reusing dinar and dirham to maintain the religious and economic aspects of their daily transactions.<br /><strong>Originality/Novelty</strong> <br />This study contributes to better understanding of application of dinar and dirham in modern society. </p>Yulia HafizahErissa NilasariMoh. Iqbal Assyauqi
Copyright (c) 2024 Yulia Hafizah, Erissa Nilasari, Moh. Iqbal Assyauqi
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2024-12-302024-12-3010210.20885/jielariba.vol10.iss2.art14Analysis of digital-based sustainable fishermen cooperative risk management in Pangandaran Regency
https://journal.uii.ac.id/JIELariba/article/view/37584
<p><strong>Introduction</strong></p> <p>This research analyzes the risk management of digital-based fishing cooperatives in Pangandaran Regency in the context of implementing the Blue Economy.</p> <p><strong>Objectives</strong></p> <p>Fishermen's cooperatives face various external challenges such as fish price fluctuations, climate change and environmental damage.</p> <p><strong>Method</strong></p> <p>This research uses a mixed methods approach with a sequential explanatory design. Quantitative data was obtained through a survey of 233 members of the Minasari Village Unit Cooperative (KUD), while qualitative data was collected through interviews and case studies.</p> <p><strong>Results</strong></p> <p>The research results show that the implementation of a cloud computing-based Management Information System (MIS) has the potential to strengthen risk management and support better governance in cooperatives.</p> <p><strong>Implications</strong></p> <p>MIS is also able to increase transparency and operational efficiency, support the implementation of Blue Economy principles, and encourage long-term sustainability of cooperatives through real-time data management and system integration.</p>Muhammad Taufan AshshiddiqiReza Fauzi BukhoriHelsa DesembrianiFahmi Hidayatul Rohmat
Copyright (c) 2024 Muhammad Taufan Ashshiddiqi, Reza Fauzi Bukhori, Helsa Desembriani, Fahmi Hidayatul Rohmat
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2024-12-302024-12-3010210.20885/jielariba.vol10.iss2.art15The effect of cash on delivery (COD) payments on purchasing decisions of the Wamena Community: A case study of Shopee
https://journal.uii.ac.id/JIELariba/article/view/37615
<p><strong>Introduction</strong><br />Indonesians, especially when shopping online, increasingly use the cash on delivery (COD) system to pay for goods.<br /><strong>Objectives</strong><br />This study aims to determine the effect of the cash on delivery (COD) payment method on the purchasing decisions of the Wamena community on the Shopee e-commerce platform.<br /><strong>Method</strong><br />This research method uses an approach. The type of research used, namely the mixed method, is a research method that combines quantitative and qualitative data to produce more comprehensive data. The sample used amounted to 100 respondents who actively use Shopee in Wamena. Quantitative research measures the Cash on Delivery (COD) variable through Convenience, Privacy, and Trust. The purchasing decision variable is measured through indicators of Problem recognition, Information search, and Evaluation of alternatives. The data analysis techniques used in this study are validity tests, reliability tests, correlation tests, regression tests, t-tests, and determination coefficient tests.<br /><strong>Results</strong><br />The results showed that the COD payment method positively and significantly affected the purchasing decisions of the Wamena city community at Shopee E-Commerce. The contribution given by the cod variable is 49% to purchasing decisions. Researchers conducted interviews to strengthen the results. The interview results show that the people of Wamena city choose cod payment because the average estimated delivery from Java to Papua is at least 7 days, so buyers find it easier to control expenses because they only pay when the goods are in hand. This payment system is also felt to be able to avoid bills that come after transactions and can control excessive shopping desires.<br /><strong>Implications</strong><br />With the increasing trend of COD usage, this study's results underscore the importance of buyers' and sellers' protection for this type of transaction.<br /><strong>Originality/Novelty</strong> <br />This study contributes to studies on online purchasing, especially in areas outside Java Island, where facilities and infrastructure are limited to support fast delivery.</p>Fitri FitriSyarifah Syarifah
Copyright (c) 2024 Fitri Fitri, Syarifah Syarifah
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2024-12-302024-12-3010210.20885/jielariba.vol10.iss2.art16The role of the agricultural sector in increasing economic growth from an Islamic economic perspective: A study in Deli Serdang Regency, North Sumatera Province, Indonesia
https://journal.uii.ac.id/JIELariba/article/view/37644
<p><strong>Introduction</strong><br />The agricultural sector is vital for economic growth in agrarian regions, particularly in Indonesia. Despite its substantial contributions to employment, food security, and regional GDP, the sector faces systemic challenges, including limited technological adoption and inadequate infrastructure. Islamic economics, emphasizing equity, sustainability, and social welfare, offers a promising framework for addressing these challenges.<br /><strong>Objectives</strong><br />This study explores the role of the agricultural sector in promoting economic growth in Deli Serdang Regency, North Sumatra, from the perspective of Islamic economics. It aims to assess the impact of government interventions and the potential of Islamic financial instruments, such as zakat and waqf, in enhancing agricultural productivity and sustainability.<br /><strong>Method</strong><br />A qualitative descriptive approach incorporated field observations, semi-structured interviews, focus group discussions, and document analysis. Data were analyzed using interactive qualitative analysis to identify themes and patterns, supported by triangulation to ensure reliability.<br /><strong>Results</strong><br />The findings reveal that agriculture remains a cornerstone of economic stability in Deli Serdang, contributing significantly to employment and regional development. Government interventions, including subsidies, infrastructure investments, and training programs, have improved productivity but face challenges in equitable implementation. Islamic economic principles, particularly the use of zakat and waqf, offer transformative potential by addressing financial and ethical dimensions of agricultural development.<br /><strong>Implications</strong><br />This study highlights the need for a synergistic approach that integrates Islamic economics with government policies to revitalize agriculture sustainably. The findings contribute to the discourse on ethical and inclusive economic development, offering practical insights for policymakers and stakeholders.<br /><strong>Originality/Novelty</strong><br />By integrating Islamic economic principles into agricultural development analysis, this study provides a unique framework for addressing systemic challenges while promoting sustainability and inclusivity in agrarian economies.</p>Iqbal Fahri TobingMaryam BatubaraYusrizal Yusrizal
Copyright (c) 2024 Iqbal Fahri Tobing, Maryam Batubara, Yusrizal Yusrizal
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2024-12-302024-12-3010210.20885/jielariba.vol10.iss2.art17Donor fund empowerment strategy in increasing donor trust: A case study on Lazismu Sidoarjo
https://journal.uii.ac.id/JIELariba/article/view/37783
<p><strong>Introduction</strong><br />Indonesians are known for their philanthropic behavior, which can be seen from the number of zakat and infaq organizations in Indonesia.<br /><strong>Objectives</strong><br />This study aims to analyze the strategy of empowering donor funds and its effectiveness in increasing donor trust in Lazismu Sidoarjo.<br /><strong>Method</strong><br />Data was collected using a qualitative approach through in-depth interviews with 14 informants, field observations, and document analysis.<br /><strong>Results</strong><br />The results showed that Lazismu Sidoarjo implemented a distribution strategy through 6 pillar programs (education, economy, social, environment, health, and da'wah) with an effectiveness rate of 85% based on the increase in the number of donors from 2021-2024. The effectiveness of the strategy is supported by three main activities: financial transparency, program publication, and activity documentation.<br /><strong>Implications</strong><br />This study highlights the importance of transparent, accessible, and documented donor fund management to ensure trust. Zakat and infaq organizations can use the findings to improve public trust.<br /><strong>Originality/Novelty</strong><br />This research contributes to developing a donor fund management model that can increase public trust in Amil Zakat institutions.</p>Muhammad Nasrulloh IlmiImas Maesaroh
Copyright (c) 2024 Muhammad Nasrulloh Ilmi, Imas Maesaroh
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2024-12-302024-12-3010210.20885/jielariba.vol10.iss2.art18From Global Financial Crisis to post-COVID: Mapping the transition in Sukuk research
https://journal.uii.ac.id/JIELariba/article/view/36763
<p><strong>Introduction</strong><br />The financial sector has experienced substantial changes throughout history, and sukuk has gained widespread recognition as a reliable funding option.<br /><strong>Objectives</strong><br />This study explores the evolution and impact of Sukuk financing from the Global Financial Crisis to the post-COVID era, emphasizing its importance within Islamic finance and its broader economic implications.<br /><strong>Method</strong><br />Using a bibliometric analysis approach, data were extracted from the Scopus database, focusing on 287 English-language research articles containing "Sukuk" in their titles. Advanced bibliometric tools such as R’s Biblioshiny package and Microsoft Excel facilitated a quantitative assessment of publication trends, authorship, and thematic developments in Sukuk research.<br /><strong>Results</strong><br />The findings highlight a significant expansion in Sukuk-related research, with diversification in themes such as sustainability, governance, and innovation in Islamic finance. Key contributors and influential works were identified, showing a shift towards addressing contemporary financial challenges through Islamic principles. While the study acknowledges limitations in scope due to its bibliometric approach, it suggests that future research could incorporate more qualitative analyses to deepen the understanding of emerging trends.<br /><strong>Implications</strong><br />The insights from this study provide valuable guidance for practitioners, policymakers, and investors in Islamic finance, underlining the role of Sukuk in promoting sustainable economic growth and financial stability. Additionally, the findings demonstrate the potential of Sukuk to contribute to ethical and socially responsible investment, aligning financial practices with broader societal values.<br /><strong>Originality/Novelty</strong><br />This study adds to academic discourse by offering a comprehensive overview of Sukuk literature’s evolution and serves as a foundational resource for further investigation and practical application in the field of Islamic finance.</p>Hassnian AliAhmad Jafar
Copyright (c) 2024 Hassnian Ali, Ahmad Jafar
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2024-12-302024-12-3010210.20885/jielariba.vol10.iss2.art19The effect of financial literacy and financial capability on the interest in social investment-based cash waqf linked Sukuk investment
https://journal.uii.ac.id/JIELariba/article/view/38015
<p><strong>Introduction</strong><br />The Cash Waqf Linked Sukuk (CWLS) represents an innovative instrument that combines Islamic philanthropy and investment principles to support social development. Despite its potential, Generation Z's participation in CWLS remains limited, presenting a challenge for its broader adoption.<br /><strong>Objectives</strong><br />This study examines the influence of financial literacy and financial capability on Generation Z's interest in CWLS investments. It seeks to identify the key barriers and enablers shaping investment behavior in the context of Islamic social finance.<br /><strong>Method</strong><br />Using a quantitative approach, data were collected from 100 Generation Z respondents in Yogyakarta through structured questionnaires. Multiple regression analysis was employed to assess the relationship between financial literacy, financial capability, and investment interest in CWLS.<br /><strong>Results</strong><br />The findings indicate that financial literacy and financial capability have significant positive effects on investment interest in CWLS. Respondents with higher financial literacy demonstrated greater awareness of CWLS benefits, while stronger financial capability enabled practical decision-making. However, issues of trust in waqf management and limited awareness of CWLS were identified as barriers to participation.<br /><strong>Implications</strong><br />The results underscore the importance of targeted financial education, transparency in waqf management, and innovative outreach strategies to enhance CWLS adoption. These insights are critical for policymakers, educators, and financial institutions in promoting Islamic social finance.<br /><strong>Originality/Novelty</strong><br />This study contributes to the growing body of knowledge on Islamic social finance by exploring the unique dynamics of Generation Z's engagement with CWLS. It highlights actionable strategies to address barriers and foster greater participation in waqf-based investments.</p>Ulfi Sheila PinastiSiti Achiria
Copyright (c) 2024 Ulfi Sheila Pinasti, Siti Achiria
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art20Analysis of factors affecting the satisfaction of using Aisyah BSI Chatbot using UTAUT 2 Theory
https://journal.uii.ac.id/JIELariba/article/view/38017
<p><strong>Introduction</strong><br />Chatbots have become an integral part of digital banking, offering seamless and efficient customer service. However, their adoption in Islamic banking raises unique challenges, particularly in fostering user satisfaction and loyalty, as emotional and personal connections are often limited.<br /><strong>Objectives</strong><br />This study analyzes the factors influencing user satisfaction and adoption of the Aisyah BSI chatbot, employing the Unified Theory of Acceptance and Use of Technology 2 (UTAUT 2). The study explores constructs such as habit, behavioral intention, and use behavior, offering insights into their roles in shaping user engagement.<br /><strong>Method</strong><br />A quantitative approach was adopted, utilizing a structured questionnaire to collect data from 68 respondents who were users of the Aisyah BSI chatbot. Partial Least Squares Structural Equation Modeling (PLS-SEM) was employed to test the relationships among variables, including performance expectancy, effort expectancy, social influence, facilitating conditions, hedonic motivation, price value, habit, behavioral intention, and use behavior.<br /><strong>Results</strong><br />The findings reveal that habit significantly influences behavioral intention, and behavioral intention mediates the relationship between habit and use behavior. Conversely, constructs such as performance expectancy, effort expectancy, social influence, and price value showed no significant impact on behavioral intention or use behavior. The model demonstrated a good fit, with an SRMR value of 0.094.<br /><strong>Implications</strong><br />The study highlights the importance of fostering habitual use and strengthening behavioral intention to enhance user satisfaction with banking chatbots. These findings provide actionable recommendations for improving chatbot design and strategy, particularly in the Islamic banking sector.<br /><strong>Originality/Novelty</strong><br />This research extends the application of the UTAUT 2 framework to a culturally specific context, contributing to the theoretical understanding of chatbot adoption in Islamic banking and offering practical insights for enhancing user engagement.</p>Hasna Hanifah Isnaini Tulasmi Tulasmi
Copyright (c) 2024 Hasna Hanifah Isnaini , Tulasmi Tulasmi
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art21The effects of brand image, halal label, and animosity on purchasing decision with promotion as a moderating variable: A case study of Scarlett Whitening sales at Mutiara Kosmetik Shop
https://journal.uii.ac.id/JIELariba/article/view/38018
<p><strong>Introduction</strong><br />The Indonesian skincare market has experienced rapid growth, driven by increased consumer awareness and demand for affordable, high-quality products. Scarlett Whitening has emerged as a leading local brand, leveraging its brand image and halal certification. However, challenges such as limited consumer awareness of halal certification and socio-political animosity complicate purchasing decisions.<br /><strong>Objectives</strong><br />This study examines the influence of brand image, halal certification, and consumer animosity on purchasing decisions for Scarlett Whitening products. It also investigates the moderating role of promotional activities in these relationships.<br /><strong>Method</strong><br />A quantitative approach was adopted, using Structural Equation Modeling (SEM) to analyze data from 220 respondents at Mutiara Kosmetik in Yogyakarta, Indonesia. The study employed a structured questionnaire to measure brand image, halal certification, animosity, promotions, and purchasing decisions, ensuring validity and reliability through established scales.<br /><strong>Results</strong><br />Brand image significantly and positively influenced purchasing decisions, highlighting its role in fostering consumer loyalty. Halal certification exhibited a negative relationship with purchasing decisions, suggesting gaps in consumer awareness. Animosity had no direct impact but was moderated by promotions, which effectively mitigated its effects. Promotions also amplified the positive influence of brand image but had limited impact on halal certification.<br /><strong>Implications</strong><br />The findings underscore the importance of integrated marketing strategies that leverage brand strength, address consumer trust in ethical certifications, and mitigate socio-political challenges through targeted promotions. These insights are vital for enhancing market positioning in culturally sensitive contexts.<br /><strong>Originality/Novelty</strong><br />This study provides a holistic framework for understanding purchasing decisions by integrating brand image, halal certification, animosity, and promotions, offering actionable recommendations for culturally and politically sensitive markets.</p>Alma HeydianaFitri Eka Aliyanti
Copyright (c) 2024 Alma Heydiana, Fitri Eka Aliyanti
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art22Financial behavior of working women in the sandwich generation in Sleman Regency, Yogyakarta, Indonesia
https://journal.uii.ac.id/JIELariba/article/view/38021
<p><strong>Introduction</strong><br />Women in the sandwich generation face unique financial challenges, managing intergenerational responsibilities while navigating socio-economic disparities. This study examines the financial behaviors of sandwich generation women in Sleman District, Indonesia, where regional and cultural differences significantly impact financial practices.<br /><strong>Objectives</strong><br />This study aims to explore key aspects of financial behavior, including planning, savings, insurance, investments, debt management, and expenditures. The research investigates how these behaviors differ between urban and rural (tourist area) participants and identifies areas for improvement to promote financial resilience.<br /><strong>Method</strong><br />A qualitative descriptive comparative approach was employed. Data were collected through structured questionnaires and semi-structured interviews with 34 participants, divided evenly between urban and rural regions. The analysis focused on identifying patterns and disparities in financial behaviors and contextual influences.<br /><strong>Results</strong><br />Findings revealed gaps in retirement planning, emergency savings, and investment practices, with urban participants demonstrating better financial literacy and access to formal financial systems. Rural participants relied heavily on informal financial mechanisms and community networks. Insurance uptake was low due to mistrust and limited awareness of Islamic financial products, while debt management reflected strong financial responsibility. Participants also displayed commendable prioritization of essential expenses and charitable giving.<br /><strong>Implications</strong><br />The study highlights the need for targeted financial literacy programs, accessible financial products, and interventions tailored to regional and cultural contexts. Addressing these gaps can empower sandwich generation women to achieve greater financial independence and resilience.<br /><strong>Originality/Novelty</strong><br />This research integrates gender, regional, and cultural perspectives to provide a nuanced understanding of financial behavior among sandwich generation women. It contributes actionable insights for policymakers and financial institutions to design effective interventions, addressing an underexplored demographic in the literature.</p>Honesty ArtantySoya Sobaya
Copyright (c) 2024 Honesty Artanty, Soya Sobaya
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art23Readiness of micro, small, and medium enterprises (MSMEs) in the food and beverage sector for halal certification implementation: A case study in Magelang, Indonesia
https://journal.uii.ac.id/JIELariba/article/view/38031
<p><strong>Introduction</strong><br />Halal certification is increasingly critical for Micro, Small, and Medium Enterprises (MSMEs) in Indonesia, especially in the food and beverage sector. Despite its mandatory status under Halal Product Assurance Law, many MSMEs face challenges in achieving compliance due to limited knowledge, inadequate service support, and operational constraints.<br /><strong>Objectives</strong><br />This study investigates the readiness of MSMEs in Magelang to implement halal certification. It analyzes the influence of knowledge, service quality, halal awareness, production processes, and human resource capabilities on MSME readiness while identifying the most significant factors affecting compliance.<br /><strong>Method</strong><br />The research employs a quantitative cross-sectional approach, surveying 110 MSME operators in Magelang. Data were collected using structured questionnaires and analyzed using descriptive statistics, classical assumption tests, and multiple linear regression analysis.<br /><strong>Results</strong><br />The findings reveal that knowledge, service quality, and halal awareness significantly influence MSME readiness for halal certification, with knowledge being the most dominant factor. Human resource capabilities also positively impact readiness, while production processes were found to be insignificant. The model explains 74% of the variance in readiness, emphasizing the importance of integrating these factors.<br /><strong>Implications</strong><br />The study highlights the need for targeted educational initiatives, streamlined certification processes, and enhanced institutional support to improve MSME compliance. It provides actionable insights for policymakers, certification bodies, and MSME operators to foster a robust halal certification ecosystem.<br /><strong>Originality/Novelty</strong><br />This research contributes to the understanding of halal certification readiness by offering a multidimensional analysis of critical factors, addressing gaps in existing literature, and proposing practical interventions to enhance MSME participation in the halal market.</p>Akbar Dwikiwibowo TuhuteruMuhammad Iqbal
Copyright (c) 2024 Akbar Dwikiwibowo Tuhuteru, Muhammad Iqbal
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art24Effect of investment returns, risk-based capital, and underwriting results on the profit of Islamic life insurance company: A case study of PT. Takaful Keluarga 2017-2024
https://journal.uii.ac.id/JIELariba/article/view/38034
<p><strong>Introduction</strong><br />The role of Islamic life insurance in addressing financial risks and promoting sustainable growth is increasingly important, particularly in Muslim-majority countries like Indonesia. Understanding the financial determinants of profitability in this sector provides critical insights into its operations and resilience.<br /><strong>Objectives</strong><br />This study examines the impact of investment returns, risk-based capital, and underwriting results on the profitability of PT Takaful Keluarga. It aims to evaluate both individual and combined effects of these financial variables and analyze their role during economic disruptions, such as the COVID-19 pandemic.<br /><strong>Method</strong><br />The study employs a quantitative approach, utilizing multiple linear regression analysis on quarterly financial data from 2017 to 2024. The analysis focuses on the interplay of key financial variables and their influence on net profit, providing a comprehensive view of profitability determinants in Islamic life insurance.<br /><strong>Results</strong><br />Investment returns were found to significantly and positively affect profitability, highlighting the importance of effective asset management. Risk-based capital and underwriting results showed limited individual impacts but contributed significantly in combination with investment returns. The findings also underscore the company’s resilience, with profitability rebounding in the post-pandemic period.<br /><strong>Implications</strong><br />The results emphasize the need for integrated financial strategies that align investment, solvency, and risk management practices. These findings offer actionable insights for practitioners and policymakers aiming to optimize the financial performance of Islamic life insurance providers.<br /><strong>Originality/Novelty</strong><br />This study contributes to the understanding of financial dynamics in Islamic life insurance by addressing the interdependence of key financial variables and exploring their role in sustaining profitability under economic uncertainty.</p>Sitti Annisa HaeraniNur Kholis
Copyright (c) 2024 Sitti Annisa Haerani, Nur Kholis
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art25Factors influencing the decision to use BSI Mobile Banking among Gen Z and Millennials in Yogyakarta, Indonesia
https://journal.uii.ac.id/JIELariba/article/view/38048
<p><strong>Introduction</strong><br />Mobile banking has become an essential aspect of modern financial services, particularly among digitally literate populations such as Gen Z and Millennials. Despite the widespread adoption of mobile banking, understanding the factors influencing its use in specific cultural and demographic contexts remains underexplored. This study investigates the adoption of Bank Syariah Indonesia's (BSI) mobile banking services among Gen Z and Millennials in Yogyakarta using the Unified Theory of Acceptance and Use of Technology 2 (UTAUT2) framework.<br /><strong>Objectives</strong><br />The research aims to identify and analyze the key factors driving the decision to adopt mobile banking services, focusing on intrinsic motivators such as performance expectancy, effort expectancy, hedonic motivation, price value, and habit, as well as external factors like social influence and facilitating conditions.<br /><strong>Method</strong><br />This study employed a quantitative approach, collecting data from 124 respondents through structured questionnaires. Using Partial Least Squares Structural Equation Modeling (PLS-SEM), the relationships between the UTAUT2 factors and mobile banking adoption were evaluated.<br /><strong>Results</strong><br />The findings indicate that intrinsic factors, particularly habit, performance expectancy, and effort expectancy, significantly influence mobile banking adoption. Hedonic motivation and price value also play essential roles, whereas external factors such as social influence and facilitating conditions were found to have no significant impact.<br /><strong>Implications</strong><br />The study underscores the importance of user-centered strategies that enhance functionality, ease of use, and emotional satisfaction. It suggests that financial institutions should focus on fostering habitual engagement and cost-effective services to drive adoption.<br /><strong>Originality/Novelty</strong><br />This research contributes to the literature on digital financial services by offering insights into mobile banking adoption among Gen Z and Millennials in Indonesia, emphasizing the relevance of intrinsic motivators in a technologically advanced context.</p>Yasminah Nur Fitriah Anom Garbo
Copyright (c) 2024 Yasminah Nur Fitriah , Anom Garbo
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art26Evaluation of gourami farmers’ welfare in the IZI Yogyakarta Smartfarm Program using the CIBEST Method
https://journal.uii.ac.id/JIELariba/article/view/38050
<p><strong>Introduction</strong><br />The integration of productive zakat programs with sector-specific interventions has emerged as a promising strategy for poverty alleviation and community empowerment. In Indonesia, the aquaculture sector, particularly gourami farming, holds significant potential for improving rural livelihoods. However, challenges such as low productivity, economic dependency, and limited market access hinder its growth. Addressing these issues requires innovative programs that align technical, financial, and spiritual support.<br /><strong>Objectives</strong><br />This research aims to evaluate the welfare of gourami fish farmers who have received business capital assistance, technical training, and support based on productive zakat. The research was conducted on gourami farmers in Bantul Regency, Yogyakarta Province, who are beneficiaries of the Smartfarm program. The program is managed by the IZI Institution (Indonesian Zakat Initiative) with the support of the XL Axiata Ta’lim Assembly.<br /><strong>Method</strong><br />This research is a population study, meaning it examines all recipients of the Smartfarm program. The respondents have been participants in the program since November 2022, but only five beneficiaries were successfully studied. Data analysis was conducted using the CIBEST method, which includes the calculation of Material Value (MV) and Spiritual Value (SV) scores. Beneficiaries are classified into four welfare categories based on these scores, namely materially and spiritually prosperous, materially prosperous only, spiritually prosperous only, and not prosperous. The comparison of MV and SV scores before and after the program was conducted to determine changes in welfare.<br /><strong>Results</strong><br />The results show that the material value and spiritual value of each mustahik increased after participating in the zakat program. However, the category of mustahik based on the CIBEST quadrant did not change.<br /><strong>Implications</strong><br />By evaluating the welfare changes in recipients of the Smartfarm program, the study highlights the potential benefits and limitations of zakat as a tool for poverty alleviation, particularly within the context of fisheries.<br /><strong>Originality/Novelty</strong><br />This research contributes to the literature on productive zakat by applying the CIBEST framework in the aquaculture sector, offering a replicable model for addressing multi-dimensional welfare challenges.</p>Liebe SobandiRakhmawati Rakhmawati
Copyright (c) 2024 Liebe Sobandi, Rakhmawati Rakhmawati
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art27Analysis of factors affecting the satisfaction of Sharia stock investors in Bangka Belitung and Riau, Indonesia
https://journal.uii.ac.id/JIELariba/article/view/38061
<p><strong>Introduction</strong><br />The Indonesian Sharia stock market has experienced significant growth, reflecting increasing demand for ethical investment options that align with Islamic principles. Despite this expansion, limited research has explored the factors influencing investor satisfaction in Sharia-compliant markets, particularly the role of behavioral traits and financial literacy alongside adherence to Sharia values.<br /><strong>Objectives</strong><br />This study examines the interplay between Sharia values, financial literacy, behavioral traits (overconfidence, self-efficacy, herding behavior, and risk tolerance), and investment decisions in determining investor satisfaction in the Indonesian Sharia stock market.<br /><strong>Method</strong><br />A quantitative explanatory research design was employed, gathering data from 151 individual Sharia stock investors in Bangka Belitung and Riau provinces through online surveys. Structural Equation Modeling (SEM) was used to analyze relationships among variables, including sharia values, behavioral traits, financial literacy, investment decisions, and investor satisfaction.<br /><strong>Results</strong><br />The findings reveal that sharia values are the strongest determinant of investor satisfaction, emphasizing the importance of ethical alignment. Behavioral traits, particularly overconfidence and self-efficacy, positively influence investment decisions mediating satisfaction. Financial literacy, herding behavior, and risk tolerance exhibit limited or indirect effects on satisfaction, highlighting the complex dynamics of Sharia-compliant investing.<br /><strong>Implications</strong><br />The study underscores the critical role of ethical principles and behavioral traits in shaping satisfaction within sharia markets. It provides practical insights for financial institutions, policymakers, and educators to design more effective investment strategies and educational programs.<br /><strong>Originality/Novelty</strong><br />This research integrates behavioral finance and Sharia principles, contributing to the growing literature on ethical investing. The study offers a comprehensive framework for understanding investor satisfaction, providing a foundation for future research and practical applications in Sharia-compliant markets.</p>Firman AbadiMuhammad Adi Wicaksono
Copyright (c) 2024 Firman Abadi, Muhammad Adi Wicaksono
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art28Enhancing Sharia compliance: Evaluating supervisory roles in a rural Islamic bank in Yogyakarta, Indonesia
https://journal.uii.ac.id/JIELariba/article/view/37394
<p><strong>Introduction</strong> <br />Islamic Rural Banks (<em>Bank Perekonomian Rakyat Syariah</em> abbreviated BPRS in Bahasa Indonesia) play a vital role in promoting Islamic finance in Indonesia. Central to their operation is the Sharia Supervisory Board (<em>Dewan Pengawas Syariah</em> abbreviated DPS in Bahasa Indonesia), tasked with ensuring that all financial activities align with Islamic principles. Despite their importance, gaps in the implementation of Sharia compliance suggest limitations in Sharia Supervisory Board effectiveness, which may undermine the integrity of Islamic Rural Banks operations. <br /><strong>Objectives</strong> <br />This study investigates the effectiveness of the Sharia Supervisory Board in maintaining Sharia compliance within an Islamic Rural Bank in Yogyakarta, Indonesia. It aims to identify key challenges, such as regulatory clarity, institutional support, and the qualifications of the Sharia Supervisory Board members, and their impact on the Islamic Rural Bank’s governance and performance. <br /><strong>Method</strong> <br />The research employs a mixed-methods approach, combining qualitative and quantitative analyses. Data were collected through structured interviews with Sharia Supervisory Board members, Islamic Rural Bank executives, and regulatory bodies, alongside a review of regulatory documents and institutional records. The study uses thematic analysis and statistical tools to evaluate the factors influencing the Sharia Supervisory Board’s effectiveness. <br /><strong>Results</strong> <br />Findings reveal that the effectiveness of the Sharia Supervisory Board is significantly influenced by their qualifications, access to training, and institutional support. Regulatory ambiguities lead to inconsistent Sharia compliance practices across Islamic Rural Banks. Institutions with robust internal frameworks and better resource allocation exhibit higher levels of Sharia compliance and customer trust. <br /><strong>Implications</strong> <br />The study highlights the necessity for comprehensive training programs, more explicit regulatory guidelines, and more substantial institutional support to enhance the role of the Sharia Supervisory Board. These improvements are essential for maintaining the credibility of Islamic financial institutions and fostering customer confidence. <br /><strong>Originality/Novelty</strong> <br />This research contributes to the literature on Islamic finance governance by addressing systemic and practical challenges faced by the Sharia Supervisory Board in Islamic Rural Banks. It offers actionable recommendations for policymakers, regulators, and financial institutions to strengthen the governance and compliance mechanisms in Islamic banking. </p>Dzuriyatun RahmatikaYuli AndriansyahAdnan Qubbaja
Copyright (c) 2024 Dzuriyatun Rahmatika, Yuli Andriansyah, Andan Qubbaja
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2024-12-312024-12-3110210.20885/jielariba.vol10.iss2.art29