Journal of Islamic Economics Lariba

SWOT analysis of fire insurance product marketing strategy at PT Chubb Life Insurance Indonesia Medan Branch: An Islamic perspective

Fauzi Ahmad Romadhon — 2024-01-12

Introduction
Indonesian people are familiar with and use many sharia insurance products. However, research specifically discussing fire insurance products is still limited.
Objectives
This study carries out a SWOT analysis of fire insurance products from the marketing strategy aspect and Islamic perspective.
Method
This study used a quantitative approach with a sample of PT. Chubb Life Insurance (Persero) Medan Branch, Indonesia. Data collection was carried out using interviews and questionnaires. This study uses SWOT Analysis to evaluate internal and external factors that influence a company to identify strengths and weaknesses.
Results
The research results show that the strengths of PT. Chubb Life Insurance were in its principles that are not usury, its brand is strong and its policies and claims services are well served. The opportunity can be found around office buildings that requires fire insurance. The weaknesses faced are low market share and human resources. The threat is the large number of competing companies that have similar products and the public's lack of understanding about insurance.
Implications
This study shows a strong internal position and indicates that the company responded well to existing opportunities and avoided threats in the market.
Originality/Novelty
This study contributes to the study of fire insurance as part of Islamic insurance in Indonesia.

The effect of liquidity and leverage on financial performance with company size as a moderating variable: A study on companies listed in Jakarta Islamic Index 30

Fatma Intan Cahyani — 2024-01-13

Introduction
The Jakarta Islamic Index is an index on the Indonesia Stock Exchange which contains companies that contribute to the halal industry in Indonesia. However, research on financial performance specifically using liquidity, leverage and company size is still limited.
Objectives
The research aims to examine the effect of liquidity and leverage on performance financial with company size as a moderating variable. This research aims to find out which companies in the Jakarta Islamic Index 30 are influenced by factors that can improve their financial performance so that they have a more positive impact on companies and investors.
Method
The subject of this research companies listed on Jakarta Islamic Index 30 for 2020 – 2022. Data collection techniques used in this study were purposive sampling and with a sample size of 114 samples. While the data analysis techniques used in this study is classic multiple regression analysis with interaction.
Results
The analysis show that liquidity has a significant effect on financial performance, leverage has no effect on financial performance, company size moderates liquidity on financial performance but does not moderate leverage to financial performance.
Implications
Companies registered on Jakarta Islamic Index 30 can utilize their debt policy to obtain additional capital as long as the use is reasonable and does not burden the company.
Originality/Novelty
This study contributes to broaden the knowledge on financial performance of companies listed in Jakarta Islamic Index 30.

Interaction analysis of sharia financial institution assets, sharia investment and exports on gross domestic product in Indonesia

Sultan Rasy Nasyaa — 2024-01-25

Introduction
In macroeconomics, one of the key indicators influencing a country's economic success is its economic growth. An essential factor in determining a nation's economic growth is the Gross Domestic Product (GDP).
Objectives
This research aims to analyze the level of interaction between Islamic financial institutions, Sharia investments, and export activities in Indonesia, examining their impact on the Gross Domestic Product (GDP) over the short and long term, spanning the period 2017-2022.
Method
The study employs a quantitative research approach, specifically utilizing the Vector Error Correction Model (VECM) method.
Results
The results of the Vector Error Correction Model (VECM) reveal two significant variables in the long term. The causality test results indicate a significant relationship between Indonesian exports and Sharia investment. The Variance Decomposition analysis reveals that Sharia Financial Institution Assets contribute 2.7 percent, followed by Sharia Investment at 0.3 percent, and Indonesian Exports at 0.03 percent to the variation in GDP.
Implications
This suggests that Indonesian exports significantly impact Sharia investment, and vice versa. However, concerning Gross Domestic Product (GDP), none of the variables exhibit significance. The development of income across various institutions and economic activities in Indonesia indicates a significant increase in the last three years.
Originality/Novelty
These findings provide valuable insights into the economic dynamics of Indonesia, offering a basis for further research and policymaking.

Social and economic impacts of increasing early marriages during the Covid-19 pandemic: A study in Mandailing Natal and South Tapanuli districts

Muhlisah Lubis — 2024-01-30

Introduction
Since the Covid-19 outbreak, underage marriages have become increasingly widespread with all its impact to the society. There are very limited studies on its impact from social and economic aspect, especially among Muslim society in Indonesia.
Objectives
The purpose of this study was to analyse the social and economic impacts of increasing underage marriage during the Covid-19 pandemic. By doing so, the study also aims to provide solution to solve the impacts for the affected communities.
Method
This study uses a qualitative method with a sociological approach that focuses on experiences and socio-cultural phenomena that occur in the midst of society.
Results
There are several social impacts that occur as a result of early marriage, conflict in the family, regret and heavy pressure, loss of opportunity to continue education, not being able to socialize, domestic violence, divorce. The economic impacts that occur due to early marriage, among others, are limited opportunities to get work opportunities, unable to bear the family's economic burden, structural poverty.
Implications
Efforts were made to reduce the number of early marriages, among others, holding meetings several times a month, formally coordinating community leaders, village officials, and KUA, through outreach programs to Majlis Taklim, marriage advice, through marriage sermons, coordinating with sub-districts, youth activities related to early marriage.
Originality/Novelty
The findings of this study contribute to efforts to overcome social and economic problems among Muslim society impacted by the Covid-19 pandemic.

The influence of business capital and cost of space rent (ijarah) on merchants’ income in the traditional market of Lau Dendang Village

Muhammad Rivaldi Pane — 2024-01-31

Introduction
Previous research has been carried out to analyze variables that influence traditional traders' income. However, research with the variables working capital and rental costs in the context of Lau Dendang Village has not been carried out.
Objectives
This research was carried out with the aim of finding out the relationship between business capital and rental costs (Ijarah) on trading income in the traditional market of Lau Dendang Village.
Method
This research was conducted and carried out using quantitative methods and uses data obtained from sampling using research instruments in the form of questionnaires with the population being traders in several markets in Lau Dendang Village.
Results
The results of the research that has been carried out are that a negative and significant influence is obtained on the variable working capital and rental costs as independent variables on merchants income as dependent variable.
Implications
Merchants in traditional market should have adequate capital of their own and need support to lower rental costs to increase their income.
Originality/Novelty
This study contributes to enrich studies in the field of Islamic economics related to the income of traders in traditional markets.

The influence of Natural Certainty Contract (NCC) and Natural Uncertainty Contract (NUC) financings on the financial sustainability of Islamic commercial banks in Indonesia

Deva Ayu Fitriawati — 2024-02-20

Introduction
Research on Islamic banking in Indonesia has extensively addressed its performance and stability. However, studies on stability from the perspective of Natural Certainty Contract and Natural Uncertainty Contract financing have been relatively scarce.
Objectives
This study measures how profitability mediates the impact of Natural Certainty Contract (NCC) financing and Natural Uncertainty Contract (NUC) financing on financial sustainability.
Method
The research utilizes secondary data obtained from quarterly reports for the periods I-IV of 2018-2022 on the official website of Sharia commercial banks. All Sharia commercial banks in Indonesia listed in the OJK for the period 2018-2022 constitute the population for this study, while the sample consists of Sharia commercial banks in Indonesia that meet the criteria. The sampling method employed is purposive sampling, resulting in eight Sharia commercial banks in Indonesia as the sample based on predetermined criteria.
Results
The findings of this study indicate that NCC financing negatively influences profitability, NUC financing has no impact on profitability, NCC financing positively influences financial sustainability, NUC financing negatively influences financial sustainability, profitability (ROA) positively influences financial sustainability, NCC financing indirectly negatively affects financial sustainability through profitability, and NUC financing indirectly has no impact on financial sustainability through profitability.
Implications
Islamic commercial banks should be more selective in financing allocation, focusing on options with lower risks. Furthermore, Islamic commercial banks should also manage financing effectively to minimize existing risks, thereby enhancing profitability.
Originality/Novelty
This study contributes to enrich studies in the field of Islamic finance with emphasize on Islamic commercial banks profitability and financial sustainability.

Contibution of Sharia fintech to micro, small, and medium enterprises’ inclusivity in Kisaran City

Sri Maharani — 2024-02-21

Introduction
Challenges in access to inclusive financial services are still a major issue for many micro, small and medium enterprises in Indonesia, including in Kisaran City. However, research that specifically discusses this is still rarely carried out.
Objectives
This research aims to analyze the role of sharia fintech in increasing the inclusiveness of micro, small and medium enterprises in Kisaran City.
Method
This research uses qualitative approach with primary data is obtained by interviewing three MSMEs owners using Sharia fintech. Secondary data is collected from books, the internet, academic journals, archives, and official records.
Results
The results of this research show an increase in the use of Sharia Fintech by micro, small and medium enterprises in Kisaran City in 2020-2023. Apart from that, the use of Sharia fintech has a positive influence in increasing financial inclusiveness and encouraging the growth of micro, small and medium enterprises in Kisaran City..
Implications
Micro, small and medium enterprises can use financial services from sharia fintech to increase access to funding and to expand customer payment models. Policy makers can continue to increase the role of sharia fintech for inclusiveness of micro, small and medium enterprises through more certain regulations and also increasing public education.
Originality/Novelty
This study contributes to enrich studies in the field of financial inclusion for micro, small, and medium enterprises with emphasize on the use of fintech.

Identity and rationality in Sharia economic practice: A study at Arrahmah Sharia Consumer Cooperative, South Kalimantan Province

Yulia Hafizah — 2024-02-26

Introduction
The Sharia consumer cooperative is one of the many legal forms of Islamic economic activity in Indonesia, including South Kalimantan Province. However, studies on the identity and rationality of this practice are still limited.
Objectives
This research aims to understand how Islamic identity influences economic decisions and how Sharia economic rationality is reflected in the practices of consumer cooperatives. The selection of Arrahmah Sharia Consumer Cooperative (Koperasi Konsumen Syariah Arrahmah) as the subject of the study is based on the institution's claim to be "more Sharia" compared to other cooperatives or Sharia financial institutions.
Method
A qualitative research method was employed using in-depth interviews and observations as data collection tools. Qualitative research was chosen for its relevance to case studies that required in-depth data exploration.
Results
The findings indicate that Islamic identity plays a key role in shaping the economic preferences of cooperative members, whereas Sharia economic rationality is reflected in the principles of justice and sustainability. In the context of Arrahmah Sharia Consumer Cooperative, the institution's assertion of being "more Sharia" is driven by knowledge of fiqh muamalah, particularly the section on usury and its dangers conveyed by Salafi scholars in study forums, websites, and other mass media. This knowledge serves as the main foundation and source of community identity, which distinguishes them from other cooperatives or financial institutions.
Implications
The success of Sharia economics lies not only in economic rationality, but also in the understanding and application of religious identity in every aspect of economic activities. Both are complementary and mutually supportive in achieving sustainable economic development goals, in line with religious values.
Originality/Novelty
This study provides insights into the dynamics of identity and rationality in the context of Sharia economics, focusing on the practices of consumer cooperatives in South Kalimantan.

Impact of attitude, subjective norms, and perceived behavioural control on intention to invest in retail green sukuk among Muslim millennials in Jabodetabek

Muhammad Ananda Ikhsan — 2024-03-06

Introduction
Retail green sukuk is an environmentally friendly investment option for millennials. However, there have not been many studies related to this in the context of millennials in big cities in Indonesia.
Objectives
This research aims to analyse the impact of attitude, subjective norms, and perceived behavioral control in intention to invest in retail green sukuk among Muslim millennials in Jabodetabek.
Method
This research uses the PLS-SEM (Partial Least Square Structural Equation Modeling) which presents the results of regression analysis relating to testing the relationship between endogenous and exogenous variables. A total of 183 Muslim millennials participate in this research by fulfilling an online questionnaire.
Results
The results of this research show that these three variables significantly influence Green Sukuk investment interest among Millennial Muslims in Jabodetabek, with a significance value of attitude of 0.669, subjective norm of 0.213, and perceived behavioral control of 0.030.
Implications
Governments or other corporations issuing retail green sukuk instruments should focus more on promoting their green initiatives. This will create a positive attitude among millennial investors toward Retail green sukuk instruments.
Originality/Novelty
This study provides insights into the intention to invest in environmentally friendly financial product among Muslim millennials living in large cities in Indonesia.

The influence of brand image, halal label, and religiosity on the purchasing attitude of local halal cosmetics in Bogor

Putri Aliza — 2024-03-07

Introduction
In the rapidly growing cosmetics industry, consumers are becoming increasingly conscious of the quality and halal certification of the products they use. People living in Bogor, especially those with strong religious orientations, tend to seek cosmetics that meet quality standards and align with their religious values.
Objectives
This study examines the influence of brand image, halal label, and religiosity on the purchasing attitude of local halal cosmetics in Bogor.
Method
This quantitative descriptive research employs the SEM-PLS approach, utilizing Smart PLS version 3.0 software. The sample data comprises 105 respondents.
Results
The results of the F-test showed that the significance value (sig) is 0.000 < 0.05, indicating that brand image (P-value = 0.048), halal label (0.000), and religiosity (0.000) significantly and positively influence the purchasing attitude of local halal cosmetics.
Implications
This research provided insights for local halal cosmetics companies on the importance of brand image and the halal label of their products for customers. For policymakers, it highlights the importance of halal regulation to protect customers from using non-halal cosmetics products.
Originality/Novelty
This study provides insights into the purchasing attitude of Muslims regarding cosmetics products in Indonesia.

Analysis of consumer protection system in improving expedition services from an Islamic perspective: A case study of insurance at J&T Express Medan

Fadillatunnisa Fadillatunnisa — 2024-03-08

Introduction
As the economic landscape in Indonesia continues to evolve, there is a growing demand for shipping services. Nevertheless, from an Islamic perspective, research regarding insurance protection for shipped goods remains limited.
Objectives
This research aims to examine consumer protection in enhancing expedition services for the shipment of goods at J&T Express Medan, focusing on the forms of protection against delays, damages, and losses during delivery due to negligence in the shipment process, which results in losses for consumers.
Method
The research methodology employed is qualitative research with a descriptive approach. This study utilized both primary and secondary data.
Results
In the context of J&T Express's regular services, the service provider includes protections such as insurance and wooden packaging if deemed necessary by consumers to prevent damages and resultant losses during the shipment of goods. To ensure the safety of shipped items, J&T always offers insurance options for every item dispatched, especially for high-value items. Additionally, J&T Express provides packing services to guarantee the security and safety of the transported goods.
Implications
This research provided insights for sellers on whether they should opt for insurance protection or not based on the nature, fragility, and value of the items being shipped.
Originality/Novelty
This study contributes to insurance protection in the context of shipments from an Islamic perspective in Indonesia.

Zakat and poverty alleviation in Muslim countries: A Biblioshiny application

Putri Wahyuni — 2024-03-16

Introduction
Poverty is a topic that is hotly discussed in the economic world, especially in developing countries, including Muslim countries. However, research on scientific developments regarding poverty in Muslim countries is still limited.
Objectives
This study aims to examine trends in the development of zakat and poverty alleviation in Muslim countries using the Scopus database over a period of 32 years from 1991 with the keyword zakat poverty.
Method
A bibliometric approach was used to answer this goal by mapping research publications with the help of R-Biblioshiny software.
Results
The results found 172 document sources discussing this topic, of which 114 journal articles made the largest contribution. The most relevant journal is Journal of Islamic Accounting and Business Research. Apart from that, the largest country's publication contribution is Malaysia, with 160 articles, with the most productive writer Saad Raj, who has a fairly extensive network of author collaborations. Finally, the relationship between words divided into five naming clusters is an important discussion in this research.
Implications
The mapping results in this study can serve as a reference for developing new research on zakat and poverty alleviation in Muslim countries in the future.
Originality/Novelty
This study contributes to the mapping of scientific developments on the topic of poverty in Muslim countries.

Purchase intention of Sariayu cosmetics among Muslim university students as viewed from green product and product quality: An Islamic economic perspective

Fenni Windi Yati — 2024-03-17

Introduction
The worsening environmental conditions motivate beauty industries to pay attention to ecological aspects in running their businesses, namely creating environmentally friendly (green products) of good quality.
Objectives
This study aimed to determine whether green products and quality affect purchase intention.
Method
The research method used is a quantitative approach. The population was female students of the Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Sumatera Utara Medan, and the sample size was 98 respondents. The analysis technique in the study used multiple linear regression, and the data was processed using SPSS.
Results
The results showed that the green product and product quality together positively affected purchase intention.
Implications
This research provided insights for the beauty industry to enhance their involvement in environmentally friendly products without neglecting their quality.
Originality/Novelty
This study contributes to enriching studies on halal cosmetics among Muslim consumers from an Islamic perspective in Indonesia.

The influence of halal fashion, lifestyle, and brand image on Gen Z's hijab fashion preferences in Indonesia

Riski Rahman — 2024-04-03

Introduction
The hijab is an important part of the daily lives of Muslim women in Indonesia. Several studies have been conducted regarding hijab preferences. However, research focusing on Generation Z is still limited.
Objectives
This research aims to explain how fashion trends, lifestyle, and brand image influence hijab fashion preferences.
Method
This research uses quantitative research methods. The data collection technique used was a questionnaire for 104 respondents, with the criteria being Muslim women who were hijab consumers aged 11-26. The collected data was analyzed using the SEM-PLS approach.
Results
The results of this research show that halal fashion, lifestyle, and brand image have a significant influence on hijab fashion preferences. Lifestyle variables have the most dominant influence.
Implications
The theoretical implications of this research indicate the need for a holistic approach to understanding Generation Z consumer behavior in the context of hijab fashion.
Originality/Novelty
This research shows the importance of collaboration between the fashion industry, religious institutions, and the government to develop regulations that support the growth of a high-quality hijab fashion industry in accordance with religious values.

A comparative analysis of factors determining the value of the Indonesian Sharia Stock Index (ISSI) before and after the Covid-19

Dwi Franadita — 2024-05-18

Introduction
The Covid-19 pandemic had profound impacts on global financial markets, prompting extensive research to understand how various economic sectors, including sharia-compliant stocks, responded to the crisis.
Objectives
This study aims to compare the determinant factors affecting the ISS (Indonesian Sharia Stock Index) during the periods before and after Covid-19 in Indonesia.
Method
A descriptive and verificative quantitative research method was employed, validating collected data and examining the relationships between variables using statistical procedures to test research hypotheses. The data sources utilized were secondary data published by the Indonesia Stock Exchange (IDX). Data analysis techniques included Normality Tests and Paired Sample T-tests. Data processing was assisted by SPSS for Windows Version 22.00. The sample comprised data from the Indonesian Sharia Stock Index before and after Covid-19, covering the period from 2018 to 2022.
Results
The study's findings indicate an increase in the Indonesian Sharia Stock Index post-Covid-19, with a significant difference observed before and after Covid-19.
Implications
The significant increase in the Indonesian Sharia Stock Index post-Covid-19 implies that sharia-compliant investments demonstrated resilience and potential for recovery in the face of economic disruptions, highlighting their viability as a robust investment option during and after financial crises.
Originality/Novelty
This study provides a novel comparative analysis of the factors influencing the Indonesian Sharia Stock Index before and after Covid-19, offering new insights into the pandemic's differential impact on sharia-compliant financial instruments.

Factors influencing interest in saving at Islamic bank: A study on the merchants of Pasar Besar in Malang City

Laila Rahmawati — 2024-06-04

Introduction
The development of Islamic banks in Indonesia is pivotal for the growth of the Islamic economy, given the country's majority Muslim population. However, the adoption rate of Islamic banking services remains relatively low compared to the overall Muslim population, highlighting the need to understand the factors influencing customer interest in saving with Islamic banks.
Objectives
This study aims to examine the impact of Sharia labels, product knowledge, and location on the interest in saving among merchants in Pasar Besar, Malang. Specifically, it seeks to determine how these factors individually and collectively influence customers' decisions to save in Islamic banks.
Method
A quantitative research approach was employed, utilizing non-probability purposive sampling to gather data from 135 respondents through questionnaires. The analysis was conducted using IBM SPSS to perform validity, reliability, normality, heteroscedasticity, multicollinearity, and multiple linear regression tests to validate the hypotheses.
Results
The findings indicate that Sharia labels, product knowledge, and location significantly affect the interest in saving. Specifically, the t-test results show that each variable has a statistically significant impact, with t-values greater than the t-table value of 1.978. Additionally, the F-test confirms that these variables collectively influence the interest in saving, with an F-value of 50.579 exceeding the threshold of 2.67.
Implications
The study's implications for further research suggest exploring additional factors such as customer service quality and financial incentives, and employing mixed-method approaches to gain deeper insights. For policymakers and Islamic banks, the findings highlight the importance of enhancing Sharia compliance visibility, improving customer education on Islamic banking products, and strategically locating bank branches to attract more customers.
Originality/Novelty
This study offers a novel exploration of the combined effects of Sharia labels, product knowledge, and location on saving interest in the context of Islamic banking. It provides new insights into customer behavior in a specific market segment, contributing to the broader understanding of factors that influence the adoption of Islamic financial services.

Fundamental and macroeconomic analysis of stock prices in the consumer non-cyclicals sector listed on the Indonesia Sharia Stock Index

Muhammad Muizul Hanani — 2024-06-26

Introduction
Investors looking for investment choices that comply with sharia law find the Indonesian capital market, namely the Islamic Sharia Stock Index, to be of utmost importance. Understanding the elements that influence stock price movements in the consumer non-cyclicals sector from 2017 to 2022 is necessary.
Objectives
The objective of this study is to examine the influence of Return on Assets (ROA), Earnings Per Share (EPS), Debt to Equity Ratio (DER), inflation, and exchange rates on stock prices in the consumer non-cyclicals sector that is listed on the Indonesia Sharia Stock Index (ISSI). The objective is to ascertain the impact of these variables, both individually and together, on stock prices.
Method
The study employed a quantitative descriptive methodology, gathering data from 2017 to 2022 via official corporate websites. The analysis utilized panel data regression and conducted classical assumption testing using EViews.
Results
The results indicate that Return on Assets (ROA), Earnings per Share (EPS), inflation, and exchange rates all have a considerable influence on stock prices. However, DER does not have a substantial individual impact. The F-test demonstrates a statistically significant combined impact of independent variables on stock prices.
Implications
The results underscore the significance of fundamental financial performance and macroeconomic factors for investors and governments when making investment decisions. Gaining proficiency in financial management and comprehending the macroeconomic effects can provide more effective guidance for investment plans in the consumer non-cyclicals sector.
Originality/Novelty
This study offers novel insights into the dynamics of stock price changes in the context of Sharia-compliant investments, specifically in the consumer non-cyclicals sector. It contributes to the broader understanding of the factors that influence stock prices in Islamic capital markets.

The effectiveness of Bantuan Langsung Tunai (Direct Cash Assistance) implementation in enhancing community welfare from the perspective of Islamic economics

Putri Indriyanti — 2024-06-26

Introduction
The Direct Cash Assistance (BLT) program is a vital government project designed to mitigate poverty and enhance the well-being of low-income households in Indonesia. The BLT program has been launched in Rawa Bening Village, Bandar Subdistrict, Simalungun Regency to offer prompt financial assistance to communities that are at risk.
Objectives
The objective of this study is to assess the efficacy of the BLT program in Rawa Bening Village by analyzing important factors such as comprehension of the program, precise targeting, promptness, achievement of objectives, and tangible outcomes. Furthermore, it examines the utilization of Islamic economic ideas in the execution of the program.
Method
The research employed a qualitative descriptive approach, which entailed conducting interviews with village officials and aid beneficiaries, as well as making observations and documenting the findings. The data analysis adhered to the methodologies provided by Miles and Huberman, which involved the processes of data reduction, data presentation, and drawing conclusions. The program's success was assessed utilizing the Reference Ratio provided by the Research and Development Agency of the Ministry of Home Affairs.
Results
The analysis revealed that the BLT program had a quite effective impact on the living conditions of 78.4% of the residents in Rawa Bening Village. Although the program had a high level of efficiency in terms of being timely and accurately addressing its objectives, it only achieved modest success in terms of program comprehension and producing tangible results.
Implications
The results emphasize the capacity of direct financial support programs to offer immediate relief and contribute to long-term socio-economic progress. The study emphasizes the significance of improving communication tactics and integrating ongoing feedback systems for policymakers. The utilization of Islamic economic principles, including justice, honesty, welfare, and responsibility, offers a sturdy framework for assessing and enhancing social welfare programs.
Originality/Novelty
This study provides a distinctive viewpoint by incorporating Islamic economic ideas into the assessment of a government assistance program. It adds to the overall comprehension of how cultural and religious factors can improve the efficiency of efforts to reduce poverty.

The influence of halal label, price, and brand image on cosmetic product purchase decisions among female students at FEBI UIN KHAS Jember

Ahlam Musaidah — 2024-06-26

Introduction
Humans have two primary needs: basic and secondary needs. Women in particular have distinct needs related to their appearance. Cosmetics serve not only to beautify but also to care for the body from head to toe. Many women incorporate cosmetics into their daily routines and use them from morning to night.
Objectives
The objective of this study is to determine the influence of halal label, price, and brand image on purchasing decisions for cosmetics among female students at UIN KHAS Jember.
Method
This quantitative research employed multiple linear regression analysis. The sample size was determined using Slovin's formula and data were collected through questionnaires distributed to a selected sample of students. The study analyzed the validity, reliability, and classical assumption tests (normality, heteroskedasticity, and multicollinearity) and used multiple linear regression to assess the impact of the independent variables (halal label, price, and brand image) on the dependent variable (purchase decision).
Results
The findings reveal that halal label and brand image positively influence the purchasing decisions of cosmetic products. These results indicate that students at UIN KHAS Jember consider halal label, price, and brand image as determinants when making cosmetic purchase decisions.
Implications
This study highlights the importance of halal labeling in reducing consumer doubts about product halal status, particularly for Muslim consumers who use cosmetics daily. The positive impact of brand image suggests that students are influenced by the reputation and perceived quality of cosmetic brands. These findings also suggest that competitive pricing strategies can significantly affect purchase decisions.
Originality/Novelty
This study provides insights into the factors influencing cosmetic purchase decisions among Muslim students, emphasizing the role of halal certification. This study contributes to the understanding of consumer behavior in the context of halal products, which is critical for marketers targeting Muslim consumers.

The influence of zakat, Human Development Index, open unemployment rate, and income on poverty in Indonesia

Siti Mutmainah — 2024-06-26

Introduction
In Indonesia, poverty is influenced by a complex set of economic, social, and structural factors. Issues such as economic crises, increasing populations, income levels, long-term unemployment, health problems, low educational background, limited access to goods and services, geographical location, and gender contribute to poverty.
Objectives
This study aims to analyze the impact of zakat, the Human Development Index (HDI), the open unemployment rate, and income on poverty in Indonesia from 2013 to 2022.
Method
This study used quantitative methods with multiple linear regression analysis using Eviews. Time-series data were sourced from Statistics Indonesia (Badan Pusat Statistik) and the National Amil Zakat Agency (Badan Amil Zakat Nasional). The analysis includes classical assumption tests such as normality, multicollinearity, heteroscedasticity, and autocorrelation tests.
Results
The findings reveal that zakat, HDI, and income have negative and significant impacts on poverty in Indonesia. This indicates that increases in zakat, HDI, and income lead to reductions in poverty levels. However, the open unemployment rate did not have a significant effect on poverty.
Implications
The results highlight the importance of zakat as a socioeconomic tool to reduce poverty by redistributing wealth. Improving human development through better education, healthcare, and economic opportunities is crucial for alleviating poverty. Policies aimed at increasing income levels can significantly reduce poverty rates.
Originality/Novelty
This study contributes to the literature by examining the simultaneous effects of zakat, HDI, the open unemployment rate, and income on poverty across Indonesia, offering insights into effective poverty reduction strategies.

The influence of digital marketing and Islamic marketing on purchasing decisions of Muslim fashion

Laila Nur Aini — 2024-06-26

Introduction
Today, the business world is experiencing rapid development and change every year. Many businesses have begun implementing Islamic marketing strategies to promote their products. Additionally, digital marketing has become popular among business practitioners conducting buying and selling activities. This study aims to analyze the impact of Islamic and digital marketing on purchasing decisions for Muslim fashion.
Objectives
The objectives of this study are: 1) to analyze the influence of Islamic marketing on purchasing decisions for Muslim fashion. 2) To examine the impact of digital marketing on purchasing decisions in Muslim fashion.
Method
This study employed a quantitative approach, utilizing multiple linear regression analysis with IBM SPSS Statistics version 25. The sample size included 100 respondents. Data were collected using questionnaires distributed through Google Forms.
Results
The study reveals the following: 1) Islamic marketing positively and significantly influences the purchasing decisions of Muslim fashion. 2) Digital marketing also positively and significantly affects purchasing decisions for Muslim fashion.
Implications
The findings indicate that both Islamic and digital marketing are effective strategies for influencing purchasing decisions of Muslim fashion consumers. Businesses should consider integrating these strategies to enhance market reach and customer engagement.
Originality/Novelty
This study provides new insights into the simultaneous effects of Islamic and digital marketing on consumer purchasing decisions in the context of Muslim fashion. This highlights the importance of ethical marketing practices and the use of digital platforms to reach the target audience.

The role of circular economy in supporting sustainable development goals (SDGs) in Indonesia from an Islamic economic perspective

Iffatun Ni’mah — 2024-06-26

Introduction
Human life is currently in a critical situation regarding environmental awareness. Discussions on sustainable development have become a key topic in building sustainable SDGs to achieve environmental preservation. Sustainable development is a crucial benchmark of environmental conservation.
Objectives
This study aims to explain how the use of circular economy strategies can achieve sustainable development goals in line with the SDGs from an Islamic economic perspective.
Method
This study employed a qualitative literature review method. Secondary data sources, such as books, scientific journals, and previous articles, form the basis for analyzing various issues related to circular economy strategies and sustainable development.
Results
The findings indicate that the circular economy plays an important role in supporting sustainable development goals in Indonesia, particularly in achieving SDG goal number 8, which aims for sustainable, inclusive economic growth and the creation of decent work for all. Additionally, the circular economy is closely related to achieving SDG goal number 12, which ensures sustainable consumption and production patterns. Islamic economics plays a crucial role in supporting the implementation of SDGs in Indonesia by involving various products and ecosystems, including Sharia-compliant financial products, halal food and beverages, Islamic entrepreneurs, and the circular economy related to resource utilization.
Implications
The results highlight the importance of the circular economy as a strategic approach for addressing environmental challenges and achieving long-term sustainability. The integration of Islamic economic principles offers a robust framework to promote ethical and responsible resource management.
Originality/Novelty
This study provides a unique perspective by combining the concepts of circular economy and Islamic economics to explore their combined impact on achieving sustainable development goals. This contributes to a broader understanding of how cultural and religious principles can enhance sustainability.

The influence of knowledge and religiosity on saving interest in Islamic banks among Ponorogo residents

Gentur Pratopo — 2024-06-28

Introduction
Ponorogo is a region in East Java Province, located 200 km southwest of Surabaya bordering Central Java. With a population of 973,269, Ponorogo is predominantly Muslim and known for its numerous Islamic boarding schools. This study examines the influence of knowledge and religiosity on interest in saving in Islamic banks among Ponorogo residents.
Objectives
The objective of this research is to determine the effect of knowledge and religiosity on the interest in saving at Islamic banks among the people of Ponorogo.
Method
The study employed a quantitative method with a descriptive approach, using primary data obtained through questionnaires distributed to 400 respondents. Statistical analyses were performed to evaluate the data.
Results
The findings show that both knowledge and religiosity significantly influence interest in saving at Islamic banks, both partially and simultaneously, at a significance level of less than 0.05. The high level of knowledge and religiosity among respondents positively affects their interest in saving in Islamic banks.
Implications
These results highlight the importance of enhancing financial literacy and religious awareness to boost the use of Islamic banking services. This study suggests that Islamic banks should focus on educational campaigns to increase public knowledge and leverage religious values to attract more customers.
Originality/Novelty
This study provides insights into the combined effect of knowledge and religiosity on saving behavior, particularly in a region with a strong Islamic cultural background. This study contributes to the understanding of the factors influencing the adoption of Islamic banking services.

How should Bank Syariah Indonesia respond to cyber-attacks? Churn, sentiments, and emotions analysis with machine learning

Yan Putra Timur — 2024-06-28

Introduction
This study aims to identify the most popular topics and words in Twitter conversations regarding cyber-attacks on Bank Syariah Indonesia that occurred in May 2023. It also seeks to analyze the sentiments, emotions, and potential customer churn of netizens following cyber-attacks.
Objectives
The objective of this study is to investigate the public's response to cyber-attacks on Bank Syariah Indonesia, focusing on identifying key topics, analyzing sentiments and emotions, and estimating potential customer churn.
Method
This study uses a qualitative method with a sentiment analysis approach utilizing Orange Data Mining software. The data comprises tweets collected from May 10, 2023, to May 24, 2023, using keywords such as “BSI” and “Bank Syariah Indonesia,” resulting in 30,014 tweets. Sentiment and emotion analyses were conducted to categorize tweets and identify the prevalent sentiments and emotions.
Results
The analysis reveals that the words “BSI,” “Data,” and “Lockbit” are most frequently mentioned, indicating the relevance of the cyber-attackers who targeted Bank Syariah Indonesia. The sentiment analysis showed that 56% of the tweets were neutral and dominated by emotions of joy. The study also identifies a short-term potential churn rate of 1.60% for Bank Syariah Indonesia's total customer base, indicating the risk of customers switching to other banks.
Implications
The results highlight the importance of robust cybersecurity measures and quick response strategies for maintaining customer trust and satisfaction. Financial institutions, particularly banks, must prioritize information and technology security to prevent customer churn and ensure the continuity of their services.
Originality/Novelty
This study provides insights into public reactions to cyber-attacks on Islamic banks, emphasizing the role of sentiment and emotion analysis in understanding customer behavior. This offers practical implications for improving risk management and customer retention strategies in the banking sector.

Pre- and post-merger efficiency of Islamic state-owned bank: A case study of Bank Syariah Indonesia

Fifi Hakimi — 2024-06-28

Introduction
The increased development of Islamic banks in Indonesia is one way the government promotes state financial inclusion. On January 27, 2021, the Financial Services Authority (Otoritas Jasa Keuangan) formally granted permission for corporate mergers. Subsequently, on February 1, 2021, BRI Syariah, Bank Syariah Mandiri, and BNI Syariah, three state-owned Islamic banking companies, were officially merged to form Bank Syariah Indonesia. This study evaluates the performance efficiency of these three Islamic banks before and after the merger and compares it to other state-owned conventional banks using the Data Envelopment Analysis (DEA) approach with the BCC model framework.
Objectives
This study aims to compare Bank Syariah Indonesia's efficiency levels before and after the merger and assesses its performance relative to other state-owned conventional banks.
Method
This research utilizes the DEA method with the BCC model to analyze quarterly financial data from March 2019 to March 2023. The inputs considered are total deposits, personal expenses, and fixed assets, whereas the outputs are financing (loans) and income.
Results
The results indicate that Bank Syariah Indonesia is more efficient than other conventional state-owned banks after the merger. However, pre-merger, BRI Syariah and BNI Syariah ranked first in efficiency compared to conventional state-owned banks. The post-merger analysis shows a stable and high-efficiency level for Bank Syariah Indonesia despite fluctuations.
Implications
The findings suggest that the merger improved Bank Syariah Indonesia's performance efficiency, making it a benchmark for state-owned banks. The study highlights the importance of mergers in enhancing efficiency and suggests areas for further improvement, such as risk-mitigation strategies during economic downturns.
Originality/Novelty
This study provides additional literature on the impact of mergers on the efficiency of Islamic banks in Indonesia. It extends previous studies on Islamic bank mergers by offering insights into performance differences before and after the merger, using Bank Syariah Indonesia as a case study.

Enhancing entrepreneurship learning: An evaluation of graduate profile-aligned courses at FEBI UIN Antasari

Lutpi Sahal — 2024-06-28

Introduction
In the dynamic landscape of higher education in Indonesia, the Faculty of Islamic Economics and Business (FEBI) at the State Islamic University (UIN) Antasari Banjarmasin faces the challenge of improving the quality of education, particularly in courses designed to align with the entrepreneurship graduate profiles. Entrepreneurial education is emerging as a solution to the high unemployment rates among college graduates.
Objectives
This study aimed to evaluate courses aligned with entrepreneurship graduate profiles at FEBI UIN Antasari, focusing on enhancing students' entrepreneurial motivation. This research employs the Context, Input, Process, Product (CIPP) evaluation model to examine various learning components.
Method
The study used a combination of quantitative and qualitative research methods, including surveys, focus group discussions (FGDs), and in-depth interviews with students, faculty managers, and lecturers. The evaluation focused on curriculum development, teaching materials, collaboration with practitioners, practicum facilities, lecturer training and certification, student internships, talent mapping, and alumni networks.
Results
The findings highlight the importance of curriculum reviews involving entrepreneurship practitioners, development of standardized teaching materials, practical entrepreneurship activities, and collaboration between academics and practitioners. Student feedback indicates a positive evaluation of the courses, but also identifies areas for improvement, such as updating teaching materials, enhancing teaching methods, and maximizing the use of infrastructure.
Implications
The results underscore the need for continuous improvement in entrepreneurial education to foster entrepreneurial motivation and produce graduates equipped to thrive in a competitive job market. Enhancing practical experiences, fostering collaboration, and updating teaching methods are crucial steps for improving the quality of entrepreneurship education.
Originality/Novelty
This study provides a comprehensive evaluation of entrepreneurship courses aligned with graduate profiles, offering valuable insights into the effectiveness of current educational practices and recommendations for future improvement.