Journal title : Jurnal Ilmiah Ekonomi Islam Initials : JIEI Abbreviation : J. ilm. ekon. Islam. Language : English, Indonesian Accreditation : Scientific and Technology Index (SINTA 4) Frequency : 6 issues every year (February, April, June, August, October and December) DOI Prefix : 10.29040/jiei E-ISSN : 2579-6534 (online); 2477-6157 (printed) Publisher : LPPM ITB AAS Indonesia Editor-in-Chief : Dr. Sumadi, S.E., M.E. License : CC BY 4.0 Citation Analysis : Google Scholar ll Dimensions ll DOAJ ll Index Copernicus Jurnal Ilmiah Ekonomi Islam (JIEI) merupakan jurnal ilmiah yang diterbitkan oleh LPPM ITB AAS Indonesia sebagai media publikasi akademik bagi para peneliti, akademisi, praktisi, dan mahasiswa untuk menyebarluaskan hasil penelitian, kajian konseptual, maupun analisis praktis di bidang ekonomi Islam. Jurnal ini bertujuan untuk mengembangkan dan memperkaya khazanah keilmuan ekonomi Islam melalui publikasi artikel yang berkualitas, inovatif, dan relevan dengan perkembangan ilmu pengetahuan serta praktik ekonomi syariah di tingkat nasional maupun internasional. Ruang lingkup kajian dalam jurnal ini meliputi berbagai topik yang berkaitan dengan ekonomi Islam, antara lain perbankan syariah, lembaga keuangan syariah, keuangan publik Islam, akuntansi syariah, bisnis dan kewirausahaan syariah, industri halal, zakat dan wakaf, ekonomi pembangunan Islam, serta isu-isu kontemporer yang berkaitan dengan sistem ekonomi berbasis nilai-nilai Islam. JIEI menerima artikel berupa hasil penelitian empiris, kajian konseptual, maupun artikel telaah pustaka yang memberikan kontribusi terhadap pengembangan teori dan praktik ekonomi Islam. Setiap artikel yang diterbitkan melalui proses peer review untuk memastikan kualitas akademik dan integritas ilmiah dari setiap naskah yang dipublikasikan. Jurnal Ilmiah Ekonomi Islam menerima artikel ilmiah yang berkaitan dengan berbagai topik dalam bidang ekonomi Islam, antara lain: 1. Perbankan Syariah 2. Lembaga Keuangan Syariah 3. Akuntansi dan Keuangan Syariah 4. Zakat, Wakaf, dan Filantropi Islam 5. Bisnis dan Kewirausahaan Syariah 6. Industri Halal 7. Pembangunan Ekonomi Islam 8. Kebijakan Publik dalam Ekonomi Islam 9. Ekonomi Digital dan Financial Technology Syariah 10. Topik relevan lainnya dalam bidang manajemen atau investasi syariah JIEI didukung sepenuhnya oleh ITB AAS Indonesia (Website : https://itbaas.ac.id atau https://tbaas.id)
This work is licensed under a Creative Commons Attribution 4.0 International License.
Analisis penghindaran pajak dalam perspektif Islam: Peran moderasi GCG pada koneksi politik, CSR, dan profitabilitas
This study aims to analyze the influence of political connections, rent-seeking, and corporate social responsibility (CSR) on corporate tax avoidance behavior, with the results indicating that corporate social responsibility (CSR) acts as a driving factor. Using quantitative methods and panel data regression analysis, this study examines manufacturing companies listed on the Indonesia Stock Exchange during the period from 2021 to 2024. The sample used is specific, resulting in 556 observations from 139 selected companies. Tax avoidance is measured using the Effective Tax Rate (ETR), political ties using a dummy variable, Corporate Social Responsibility (CSR) using the Corporate Social Responsibility Performance Index, and profitability using Return on Assets (ROA), while Corporate Governance (GCG) is represented by the ratio of independent board members. The results of the study indicate that political ties and corporate profitability significantly influence tax avoidance, while corporate social responsibility (CSR) does not have a significant influence on this. Furthermore, good corporate governance (GCG) was found to mitigate the influence of political ties on tax avoidance. According to Islamic teachings, tax avoidance contradicts the principles of justice and integrity.
Copyright (c) 2026 Amanda Nurfadillah, Agung Yulianto, Itah Miftahul Ulum https://creativecommons.org/licenses/by/4.0
Determinasi pengungkapan Islamic social reporting (ISR) sebagai wujud akuntabilitas syariah pada perusahaan di Jakarta Islamic Index (JII) periode 2022–2024
This study aims to examine the effect of profitability, leverage, and firm size on Islamic Social Reporting (ISR) disclosure as a form of sharia accountability in companies listed on the Jakarta Islamic Index (JII) during 2022 - 2024. A quantitative associative approach with purposive sampling was employed, resulting in 20 companies and 60 observations. Secondary data were analyzed using classical assumption tests and multiple linear regression with SPSS version 30. The regression model was transformed using the Cochrane-Orcutt (LAG) method to address autocorrelation. The results show that profitability and firm size have a positive and significant effect on ISR disclosure, while leverage has no significant effect. Simultaneously, the three variables significantly affect ISR disclosure, with an R-squared of 26.1%.
Copyright (c) 2026 Neng Pipit Nurlatipa, Retno Dyah Pekerti https://creativecommons.org/licenses/by/4.0
Minat berwakaf melalui uang di lingkungan pesantren: Pengaruh literasi wakaf dan sikap terhadap wakaf
Waqf is one of the Islamic philanthropic instruments with significant potential to support social development, education, and community economic empowerment. However, the realization of waqf collection in Indonesia remains far below its estimated potential. As Islamic educational institutions, pesantren (Islamic boarding schools) hold a strategic position in promoting cash-based waqf due to their strong community networks and deeply rooted philanthropic culture. This study aims to examine the influence of waqf literacy and attitudes toward waqf on the intention to participate in waqf through money within the pesantren environment, as well as to identify the waqf model preferred by the pesantren community. This research employed a quantitative approach using a survey method involving 120 respondents consisting of students, teachers, administrative staff, and employees of Pesantren Al-Ma'tuq Sukabumi. Data were analyzed using descriptive statistics, validity testing, reliability testing, and multiple linear regression analysis. The findings reveal that waqf literacy has a positive and significant effect on the intention to participate in waqf through money (β = 0.290; p < 0.05), while attitudes toward waqf also have a positive and significant effect on such intention (β = 0.437; p < 0.05). Simultaneously, both variables significantly influence the intention to participate in waqf through money, as indicated by an F-value of 64.74 and a coefficient of determination (R²) of 0.525. Furthermore, most respondents preferred a regular waqf scheme with a small contribution amount, particularly IDR 5,000 per week, and demonstrated a high willingness to participate in a routine waqf program. These findings suggest that improving waqf literacy and fostering positive attitudes toward waqf are essential factors in developing pesantren-based waqf- through-money programs.
Copyright (c) 2026 Didik Gelar Permana, Firman Jofani, M. Rizqon, Nurul Huda https://creativecommons.org/licenses/by/4.0
Pengaruh sertifikasi halal dan inovasi produk terhadap kinerja pemasaran UMKM makanan dan minuman di Kecamatan Dlanggu Kabupaten Mojokerto
The dynamics of the food and beverage industry require Micro, Small, and Medium Enterprises (MSMEs) to balance compliance with religious regulations and business innovation strategies. This study aims to investigate the impact of Halal Certification and Product Innovation on Marketing Performance among MSME actors in the food and beverage sector in the Dlanggu District area. Utilizing a quantitative approach and survey methods, primary data were gathered from 99 business respondents determined through a purposive sampling technique. Hypothesis testing was carried out using multiple linear regression analysis in SPSS. The research findings partially support the view that the ownership of Halal Certification provides a significant positive contribution to boosting local marketing performance. On the other hand, the aspect of Product Innovation does not show a significant effect on marketing achievements. Even so, when tested simultaneously, the interaction between Halal Certification and Product Innovation variables proved to have a very significant influence, contributing 72.7% to variations in marketing performance. This research emphasizes that, for the characteristics of suburban consumers, the presence of innovation in new products will receive a positive response and be absorbed by the market only if it is supported by a valid guarantee of halal legality.
Copyright (c) 2026 Muhammad Haris Muhasibi, Abdillah Mundir, Ifdlolul Maghfur https://creativecommons.org/licenses/by/4.0
Kontekstualisasi Islamic corporate governance di BMT Pesantren Nurul Hakim, Kediri, Lombok Barat
The implementation of Islamic Corporate Governance (ICG) is essential for ensuring transparent, accountable, and Sharia-compliant governance within Islamic microfinance institutions. This study aims to analyze the implementation of Islamic Corporate Governance at Baitul Maal wat Tamwil (BMT) Pondok Pesantren Nurul Hakim, Kediri, West Lombok, and to identify the challenges and strategies for strengthening its governance practices. The study employed a descriptive qualitative approach using library research combined with document analysis. Data were collected from secondary sources, including scientific journals, books, regulations, official institutional reports, and organizational documents, which were analyzed using thematic content analysis. The findings indicate that the implementation of ICG at BMT Pondok Pesantren Nurul Hakim reflects the fundamental principles of Islamic governance through its organizational structure, the role of the Sharia Supervisory Board, the application of Sharia contracts, reporting mechanisms to members, and ongoing digitalization initiatives. Nevertheless, its implementation continues to face several challenges, including limited human resource competencies, the need to harmonize pesantren values with professional governance practices, dual compliance requirements, limited Islamic financial literacy, and inadequate supporting infrastructure. Strengthening ICG therefore requires improving human resource capacity, enhancing the effectiveness of the Sharia Supervisory Board, developing integrated information systems, and establishing governance guidelines rooted in pesantren values. This study contributes to the development of the Islamic Corporate Governance literature within pesantren-based Islamic microfinance institutions and provides practical insights for BMT managers and policymakers in strengthening sustainable Sharia governance.
Copyright (c) 2026 Muzafar Sahidu https://creativecommons.org/licenses/by/4.0
Peran e-commerce dalam perspektif ekonomi Syariah
The rapid development of e-commerce has transformed commercial activities into a more efficient and accessible digital trading system. However, digital transactions also present challenges related to compliance with Islamic economic principles, including the potential presence of riba, gharar, and a lack of transparency in transactions. This study aims to analyze the role of e-commerce from the perspective of Islamic economics, examine the implementation of Sharia principles on e-commerce platforms in Indonesia, and identify the challenges to their development. The study employed a descriptive qualitative approach using library research and document analysis. Data were collected from secondary sources, including books, scientific articles, regulations, fatwas, and official institutional reports, and analyzed using thematic content analysis. The findings indicate that e-commerce plays an important role in expanding market access, empowering micro, small, and medium enterprises (MSMEs), enhancing Islamic financial literacy, and supporting the development of the halal economic ecosystem. The implementation of Sharia principles is reflected in the provision of halal products, the application of valid Islamic contracts, transparent transaction mechanisms, and interest-free financial services. Nevertheless, the development of Sharia e-commerce continues to face challenges, including limited Sharia digital literacy, the absence of comprehensive operational standards, and the need to strengthen Sharia compliance supervision. Therefore, collaboration among the government, regulators, business actors, and Islamic financial institutions is essential to establish a transparent, inclusive, and sustainable Sharia e-commerce ecosystem.
Copyright (c) 2026 Dwi Priyadi, Agus Marimin, Wikan Budi Utami https://creativecommons.org/licenses/by/4.0
Peran DPS dalam penguatan SOP operasional LKS: Studi implementasi dan pengawasan
This study aims to analyze the role of the Sharia Supervisory Board (Dewan Pengawas Syariah/DPS) in strengthening Standard Operating Procedures (SOPs) within the operational activities of Islamic Financial Institutions (Lembaga Keuangan Syariah/LKS). The research also examines the DPS's implementation of SOP supervision, identifies constraints, and identifies efforts to optimize sharia supervision. The study employs a qualitative research design with a descriptive-analytical approach. Data were collected through literature review and documentation, using various sources, including peer-reviewed journals, books, fatwas issued by the National Sharia Board–Indonesian Council of Ulama (DSN-MUI), regulations from the Financial Services Authority (OJK), the Sharia Banking Law, and other relevant supporting documents. The collected data were then analyzed using descriptive analysis techniques to connect the findings with theories of sharia compliance and sharia governance. The results of the study indicate that the DPS plays a strategic role in strengthening operational SOPs through its functions of monitoring sharia compliance, providing recommendations, evaluating SOPs, supervising the implementation of contracts (akad), and reviewing new products and services. The DPS also contributes to building a culture of sharia compliance and improving the quality of institutional sharia governance. However, the effectiveness of the DPS’s supervision still faces several challenges, including limited human resource competencies, issues related to independence, and insufficient supporting facilities for supervision. Therefore, enhancing competence and professionalism, and strengthening the institutional position of the DPS, are essential steps to optimize sharia supervision in LKS.
Copyright (c) 2026 Eko Arief Cahyono, Melisa Agustin Maharani, Moh. Nur Hidayatulloh, Dilla Nisa’ul Mufida, Afif Zainal Musthofa https://creativecommons.org/licenses/by/4.0
Pengaruh Net allocation to Collection Ratio (Net ACR) dan pertumbuhan penghimpunan terhadap kinerja keuangan pada organisasi pengelola Zakat (OPZ) nasional di Indonesia periode 2019-2024
This study aims to analyze the effect of Net Allocation to Collection Ratio (Net ACR) and Collection Growth on Financial Performance as measured by the Operational Expenses Ratio (OER) in the National Zakat Management Organization (OPZ) in Indonesia for the 2019-2024 period. This study uses a quantitative approach with a documentation method, namely by collecting secondary data in the form of financial reports published by OPZ. The sample in this study was determined by the purposive sampling technique and consisted of 9 OPZs with 54 observation data points. Data analysis was carried out using panel data regression through EViews 12 with descriptive statistical testing, model feasibility testing, classical assumption testing, and hypothesis testing through t-test, F-test, and coefficient of determination. The results of the study indicate that Net ACR has a positive and insignificant relationship with OER. Conversely, collection growth has a positive and significant effect on OER. Simultaneously, Net ACR and Collection Growth have a significant effect on OER. This finding indicates that fund collection growth is a more influential factor on OER than the effectiveness of fund distribution reflected in Net ACR. Overall, the results indicate that financial performance, as measured by OER, does not reflect operational efficiency. Therefore, efforts are needed to improve OPZ financial performance optimally.
Copyright (c) 2026 Ica Khoerunnisa, Intan Rahayu https://creativecommons.org/licenses/by/4.0
Praktik ijon dalam komoditas pertanian: Analisis dan solusi berdasarkan perspektif fikih muamalah
This study aims to identify and analyze the practice of ijon in the agricultural sector and to formulate alternative solutions from of fiqh muamalah perspective. The practice of ijon persists in agrarian communities due to limited access to capital, economic pressures, and farmers' lack of access to formal financial institutions. This research employs a qualitative case study method to gain an in-depth understanding of the ijon phenomenon in rural communities. Data were collected through semi-structured interviews, participatory observation, and documentation studies. The research informants consisted of farmers, middlemen, religious leaders, agricultural extension officers, and village officials selected through purposive and snowball sampling techniques. The findings reveal that the practice of ijon is shaped by interconnected economic, social, and cultural factors. Limited business capital and the necessity to fulfill daily living needs are the primary reasons farmers engage in ijon transactions. In addition, the patron-client relationship between farmers and middlemen reinforces the continuity of this practice. The study also identifies the presence of elements of gharar in ijon transactions, characterized by uncertainty regarding prices, quality, and the quantity of harvest yields at the time the contract is agreed upon. Farmers’ limited understanding of sharia-based transaction mechanisms has contributed to the persistence of traditional ijon practices. Furthermore, the study indicates that the salam contract has the potential to serve as an alternative agricultural transaction model that is more consistent with the principles of fiqh muamalah, as it provides contractual certainty and legal protection for the parties involved. This research contributes to the development of fiqh muamalah studies in the agricultural sector while also offering practical implications for strengthening sharia-based agricultural financing systems. Future research is expected to further examine the implementation of sharia contracts in the agricultural sector with broader regional coverage and more diverse methodological approaches.
Copyright (c) 2026 Hasriliandi Halim, Bahaking Rama, Ilham Muchtar https://creativecommons.org/licenses/by/4.0
Analisis pemenuhan defisit bpjs melalui optimalisasi penggunaan dana wakaf dengan pendekatan model regresi time series
The sustainability of the national health financing system is a significant challenge as the BPJS Kesehatan financial deficit persists due to an imbalance between premium revenue and healthcare service costs. This study aims to analyze the potential for optimizing the Waqf Fund as an alternative financing source to help reduce the BPJS Kesehatan deficit in Indonesia. The study used a quantitative approach with a time series regression method based on secondary data obtained from BPJS Kesehatan, the Indonesian Waqf Board (BWI), and various other supporting sources. The results show that the collection of the Waqf Fund has experienced a positive upward trend, from approximately IDR 855 billion in 2019 to IDR 2.23 trillion in 2023. Projections for the 2025–2029 period indicate that the Waqf Fund has the potential to increase to IDR 7.6 trillion, while the BPJS Kesehatan deficit is estimated to increase from IDR 16 trillion to IDR 25 trillion. Although it cannot yet cover the entire deficit, the Waqf Fund is projected to contribute approximately 18–35% to the financing needs of the BPJS Kesehatan deficit. Furthermore, the use of Waqf Funds for healthcare financing aligns with the principles of maqasid sharia, particularly hifz al-nafs (protection of life). Therefore, optimizing productive waqf has the potential to become a sustainable, complementary financing instrument to support the national healthcare system.
Copyright (c) 2026 Siti Fazriah https://creativecommons.org/licenses/by/4.0
Analisis economic value added (EVA) sebagai ukuran kinerja berbasis nilai pada perbankan Syariah yang terdaftar di bursa efek Indonesia (BEI) periode 2018–2025
This study analyzes value-based financial performance of four conventional Islamic banks listed on the Indonesia Stock Exchange (IDX), namely PT Bank Syariah Indonesia Tbk (BRIS), PT Bank BTPN Syariah Tbk (BTPS), PT Bank Aladin Syariah Tbk (BANK), and Bank Panin Dubai Syariah Tbk (PNBS) during the period 2018–2025, using the Economic Value Added (EVA) method. The study results show that (1) BRIS experienced significant NOPAT growth after the 2021 merger, but EVA remained negative for most of the period due to high cost of capital compared to large capital; (2) BTPS recorded positive EVA in 5 out of 8 years with the second-highest average NOPAT but was affected by changes in cost of capital; (3) BANK (Aladin Syariah) had the highest proportion of years with positive EVA (7 out of 8 years) despite low NOPAT, reflecting relatively good capital efficiency; and (4) PNBS consistently recorded negative EVA until it finally turned positive in 2025. This finding shows that growth in operating profit alone does not guarantee value creation for shareholders if it is not accompanied by efficient management of capital costs.
Copyright (c) 2026 Fathia Ahya Iman https://creativecommons.org/licenses/by/4.0
Pengaruh literasi keuangan syariah, persepsi risiko, sikap, norma subjektif, dan persepsi kendali perilaku terhadap minat berinvestasi emas
The low interest of Generation Z in gold investment is a contradictory phenomenon amid increasing investment awareness and easy access to investment platforms in Indonesia, especially in East Java, with has the second-largest Generation Z population in Indonesia. This study aims to analyze the influence of Islamic financial literacy, risk perception, attitudes, subjective norms, and perceived behavioral control on the interest in gold investment of Generation Z in East Java. This study uses a quantitative approach with primary data collected through questionnaires and analyzed using SEM-PLS (SmartPLS3). The results of the study indicate that the variables of Islamic financial literacy, risk perception, attitudes, subjective norms, and perceived behavioral control significantly influence Generation Z's interest in gold investment of Generation Z in East Java. Therefore, the government, financial institutions, and investment service providers should design more effective Islamic financial education programs or risk management for Generation Z, in order to encourage interest in gold investment.
Copyright (c) 2026 Dela Akira Rimadani, Ach. Yasin https://creativecommons.org/licenses/by/4.0
Penerapan prinsip ekonomi sirkular melalui program memilah sampah menjadi emas dalam perspektif Islam: Studi pada bank Sampah Jekan Mandiri
This study aims to analyze the implementation of circular economy principles through the Waste-to-Gold Savings Program at Bank Sampah Jekan Mandiri and its conformity with the principles of tawāzun and hifdz al-bi'ah from the perspective of Islamic economics. This study employed a qualitative approach with a case study design. Data were collected through observation, interviews, and documentation involving the management and customers of Bank Sampah Jekan Mandiri. The results show that the Waste-to-Gold Savings Program integrates waste management with gold savings through a partnership with PT Pegadaian and has been joined by 101 customers. The implementation of circular economy principles is reflected in the application of the reduce, reuse, and recycle (3R) aspects, which contribute to waste reduction, increased public awareness, and the creation of economic value from waste. The program is also in line with the principle of tawāzun as it balances economic, social, and environmental aspects, and is consistent with the concept of hifdz al-bi'ah through environmental preservation efforts, as indicated by increased community participation in waste management activities. However, the program faces several challenges, including low public awareness of waste sorting, fluctuations in waste prices, and limited operational facilities.
Copyright (c) 2026 Muhammad Noor Amin, Itsla Yunisva Aviva, Sofyan Hakim, Muhammad Noor Sayuti https://creativecommons.org/licenses/by/4.0
Legal gaps in digital zakat crowdfunding: Positive and Islamic law perspectives
Advances in digital technology have spurred the use of crowdfunding as a more convenient and efficient means of collecting zakat. However, the involvement of crowdfunding platforms raises legal issues regarding legality, authority, and accountability, as Law No. 23 of 2011 grants the authority to collect zakat solely to the National Zakat Agency (BAZNAS) and Zakat Management Institutions (LAZ). This study aims to analyze the regulations and practices of crowdfunding in zakat collection, examine its legality based on positive law and Islamic law, and identify legal gaps that arise in the practice of digital zakat collection. This study is a normative legal study employing legislative, conceptual, and Islamic legal approaches. Legal materials were collected through a literature review and analyzed using a descriptive-qualitative method. The results indicate that crowdfunding no longer functions solely as an intermediary for zakat payments but also performs functions akin to zakat collection activities. This situation creates ambiguity regarding authority and accountability, as there are no explicit regulations defining the role of crowdfunding platforms within the national zakat management system. This study concludes that there is a legal gap between regulations and the practice of digital zakat collection. Therefore, regulatory updates are needed to ensure legal certainty, accountability, and compliance with Sharia principles in the management of digital zakat.
Copyright (c) 2026 Restu Hilwani Azra', Nurul Izza https://creativecommons.org/licenses/by/4.0
Pengaruh collection period variance dan kebijakan modal kerja terhadap profitabilitas pada perusahaan syariah sektor properti dan konstruksi di ISSI periode 2015-2024
This study aims to examine the effect of collection period variance (CPV), working capital investment policy (WCIP), and working capital financing policy (WCFP) on return on asset (ROA) among 113 property and construction sector companies listed in the Indonesian Sharia Stock Index (ISSI) over the period 2015-2024. Secondary data in the form of annual financial statements were obtained from the official website of the Indonesia Stock Exchange (IDX) and the respective company websites. The sample consists of 113 companies selected through purposive sampling, yielding a total of 601 observations using unbalanced panel data. Data were analyzed using panel data regression, with model selection conducted through the Chow Test and Hausman Test, resulting in the Fixed Effect Model as the chosen estimation approach. The findings indicate that CPV has a significant negative effect on ROA, suggesting that a wider gap between the speed of trade payables settlement and receivables collection is associated with lower firm profitability. WCIP has a significant positive effect on ROA, indicating that adequate current asset availability supports operational continuity and enhances profitability. WCFP has a significant negative effect on ROA, suggesting that excessive reliance on current liabilities as a financing source suppresses firm profitability. These findings imply that efficient and consistent working capital management is a key determinant in maintaining and improving the profitability of Sharia-compliant firms in Indonesia’s property and construction sector.
Copyright (c) 2026 Dien Azzizah Azzahra Farhani, Mochamad Edman Syarief, Setiawan https://creativecommons.org/licenses/by/4.0
Inflasi, perdagangan internasional, dan kapitalisasi saham syariah sebagai determinan pertumbuhan ekonomi Indonesia periode 2011–2025
Economic growth is a key indicator of a country’s development success and reflects the economy’s ability to improve the welfare of its people in a sustainable manner. Various macroeconomic and financial factors play a role in determining the dynamics of economic growth, including inflation, international trade, and the development of the Islamic capital market. This study analyzes the effects of inflation, international trade, and Islamic stock market capitalization on Indonesia’s economic growth from 2011 to 2025, incorporating exchange rates and interest rates as control variables. The study employs a quantitative approach using monthly time-series data from January 2011 to December 2025 obtained from the Central Statistics Agency, Bank Indonesia, and the Financial Services Authority. The analysis was conducted using the Autoregressive Distributed Lag (ARDL) model, as it is capable of identifying both short-run and long-run relationships among the variables. The results indicate that all variables exhibit long-run cointegration. In the long-run estimation, inflation has a negative and significant effect on economic growth, while sharia stock market capitalization has a positive and significant effect on economic growth. International trade shows no significant effect in the long run. In short-run estimates, international trade has a significant negative effect at several lag periods, while the exchange rate, as a control variable, shows a significant effect on economic growth. Interest rates have a significant negative effect in the long run but no significant effect in the short run. The research findings underscore the importance of price stability and the strengthening of the Islamic capital market in driving sustainable economic growth in Indonesia. Furthermore, the use of the exchange rate and interest rates as control variables enhances the model’s reliability in explaining the dynamics of Indonesia’s economic growth.
Copyright (c) 2026 Yuni Asri, Datien Eriska Utami https://creativecommons.org/licenses/by/4.0
Pengaruh angkatan kerja dan investasi terhadap aglomerasi industri di pulau Sumatera dalam perspektif ekonomi Islam (Analisis data panel 2018-2024)
This study analyzes the influence of labor force and investment on industrial agglomeration in Sumatera Island from an Islamic economics perspective during 2018–2024. The study employs a quantitative approach using panel data covering 10 provinces in Sumatera Island. The study obtained secondary data from Statistics Indonesia (BPS) and analyzed them using panel data regression techniques. Model selection used the Chow and Hausman Tests, which indicated that the Fixed Effect Model (FEM) was the most appropriate estimation model. The results show that the labor force variable has a positive and significant effect on industrial agglomeration, with a coefficient of 0.219315 and a probability value of 0.0492. Meanwhile, investment has a negative and insignificant effect on industrial agglomeration, with a coefficient of -0.003042 and a probability of 0.8274. Simultaneously, labor force and investment significantly affect industrial agglomeration, as indicated by an F-statistic probability value of 0.000000. The Adjusted R-squared value of 0.994003 indicates that labor force and investment explain 99.40% of the variation in industrial agglomeration, while the remaining 0.60% is explained by factors outside the model. From the perspective of Islamic economics, labor force and investment are strategic instruments for promoting economic development that is just, balanced, and oriented toward public welfare (maslahah). Therefore, industrial agglomeration should be directed not only to improve economic efficiency but also to achieve equitable regional development in accordance with the principles of al-'adl (justice), tawazun (balance), and maslahah (public interest).
Copyright (c) 2026 Veri Yulianto, Dimas Pratomo, Citra Etika https://creativecommons.org/licenses/by/4.0
Pengaruh literasi halal, labelisasi halal, dan gaya hidup terhadap keputusan pembelian minuman halal dalam kemasan pada masyarakat muslim di kota Surabaya
The growing consumption of packaged beverages among Muslims, along with the growth of the halal industry, has made halal literacy, halal labeling, and lifestyle key factors influencing purchasing decisions. However, there are still differences in consumer understanding of product halalness, attention to halal labels, and diverse lifestyles that influence purchasing behavior. This study aims to analyze the influence of halal literacy, halal labeling, and lifestyle on halal drinks packaged beverage purchasing decisions among the Muslim community in Surabaya. This research is a quantitative study with an associative research design. The study was conducted in Surabaya, with Muslim consumers of packaged beverages as subjects. The data source used was primary data obtained through questionnaires. Data analysis was performed using multiple linear regression with SPSS through instrument testing, classical assumption testing, t-tests, F-tests, and coefficient of determination tests. The results showed that halal literacy, halal labeling, and lifestyle partially and simultaneously had a positive and significant influence on purchasing decisions for packaged beverages among Muslims in Surabaya. This study concluded that halal literacy, halal labeling, and lifestyle are important factors in increasing purchasing decisions for packaged beverages. Therefore, the government, BPJPH (Indonesian Food and Drug Authority), and business actors are advised to improve halal literacy education, strengthen the implementation of halal labeling, and develop marketing strategies that align with the lifestyles of Muslim consumers.
Copyright (c) 2026 Eva Natasha, Ach. Yasin https://creativecommons.org/licenses/by/4.0
Pengaruh tingkat bagi hasil dan kualitas pelayanan terhadap minat menabung nasabah pada PT Bank Syariah Indonesia Kc Mataram Hasanuddin
Interest in saving is not determined by a single factor but is influenced by various interrelated factors. This study analyzes the effect of profit-sharing rates and service quality on customers’ interest in saving at PT Bank Syariah Indonesia’s Mataram Hasanuddin Branch. The method used is a quantitative approach with primary data obtained through a questionnaire survey. Data analysis was conducted using statistical methods based on the Statistical Package for the Social Sciences (SPSS) with the assistance of IBM SPSS Statistics 26. The results of the study indicate that profit-sharing rates and service quality have a positive and significant effect on interest in saving, both partially and simultaneously.
Copyright (c) 2026 Nurul Uswathun, Nurwinsyah Rohmaningtyas https://creativecommons.org/licenses/by/4.0
Dampak sertifikasi halal terhadap penjualan produk makanan UMKM
This study aims to analyze the impact of halal certification on increasing sales of food products among Micro, Small, and Medium Enterprises (MSMEs), with a case study in Kalibata. Halal certification is considered a crucial factor in building consumer trust, particularly in Indonesia, where most of the population is Muslim, and a strategic tool for expanding market share. The research employs a quantitative approach, with data collected through questionnaires distributed to MSME actors in the Kalibata area. The data were analyzed using statistical techniques to examine the relationship between halal certification ownership and changes in sales levels. The results indicate that MSMEs with halal certification experience a significant increase in sales compared to those without certification. This finding suggests that halal certification not only serves as a guarantee of compliance with Islamic law but also functions as an effective marketing tool to enhance product competitiveness in the market. The implications of this study highlight the importance of government and related institutions in facilitating access, providing education, and supporting the halal certification process for MSMEs. Such efforts are expected to promote local economic growth and improve the sustainable competitiveness of MSME products.
Copyright (c) 2026 Fitriyadi Omamoy, Muhammad Tho’in, Sumadi https://creativecommons.org/licenses/by/4.0
Faktor-faktor yang memengaruhi niat membeli kosmetik halal yang ramah lingkungan di e-commerce: Perluasan model UTAUT 2 dengan variabel trust dan label halal
Growing public awareness of environmental issues is driving changes in consumer behavior toward choosing more environmentally friendly products, including cosmetics. At the same time, digital advancements have made it easier for consumers to make online purchases through e-commerce. This study aims to analyze the factors that may influence the intention to purchase eco-friendly halal cosmetics via e-commerce among residents of East Java, using an extension of the Unified Theory of Acceptance and Use of Technology 2 (UTAUT 2) model that incorporates the variables of trust and halal labeling. A quantitative approach was used. The study used purposive sampling, with a total of 414 respondents. Data analysis was performed using the PLS-SEM (Partial Least Squares - Structural Equation Modeling) method. The results of the study indicate that effort expectancy, facilitating conditions, hedonic motivation, price-value, habit, and trust have a significant positive influence on the intention to purchase eco-friendly halal cosmetics on e-commerce platforms. Meanwhile, performance expectancy, social influence, and the halal label do not significantly influence the intention to purchase eco-friendly halal cosmetics on e-commerce platforms.
Copyright (c) 2026 Lailatul Mufidah, Ach. Yasin https://creativecommons.org/licenses/by/4.0
Pengaruh kemudahan, kegunaan, dan kepercayaan terhadap minat berinfak menggunakan QRIS di Surabaya
Although infak offers flexibility in terms of the amount and timing of donations, the proportion of funds collected through infak remains lower than that of zakat. This situation highlights the need to study the factors that drive public interest in using the Quick Response Code Indonesian Standard (QRIS) to channel infak. This study aims to analyze the influence of convenience, usefulness, and trust on the public’s interest in making infak donations using QRIS in Surabaya. The study used a quantitative approach with Partial Least Squares Structural Equation Modeling (PLS-SEM). A total of 152 Respondents residing in Surabaya, aged 17 or older, and who had previously used QRIS were selected using purposive sampling, while data were collected through an online questionnaire using a five-point Likert scale. The analysis results confirmed that ease of use (0.173; p-value = 0.014), perceived usefulness (0.282; p-value = 0.003), and trust (0.447; p-value = 0.000) play a role in increasing the interest in making charitable donations using QRIS. Among these three variables, trust emerged as the dominant factor influencing the interest in making charitable donations using QRIS. The coefficient of determination (R²) value of 0.653 indicates that the research model explains 65.3% of the variance in interest in making charitable donations using QRIS, while the remainder is explained by other factors not included in this research model.
Copyright (c) 2026 Dian Puspita Rahmawati, Rachma Indrarini https://creativecommons.org/licenses/by/4.0
Pengaruh persepsi dan literasi nasabah terhadap minat menabung pada Pt BPR BKK Tasikmadu (Perseroda)
This study examined the influence of customer perception and financial literacy on saving interest during the conversion of PT BPR BKK Tasikmadu (Perseroda) into an Islamic Rural Bank (BPRS). The analysis focused on the effect of each variable individually as well as their simultaneous effect. This research used a quantitative approach based on primary data collected through questionnaire distribution. From a total population of 590 customers, 100 respondents were selected as the sample using simple random sampling. The data were analyzed using SPSS through validity testing, reliability testing, classical assumption testing, and hypothesis testing. The results showed that customer perception had a positive and significant effect on saving interest with a significance value of 0.003. Financial literacy also showed a positive and significant effect with a significance value of 0.000. Simultaneously, both variables significantly influenced saving interest with a significance value of 0.000. The Adjusted R Square value of 0.685 indicates that 68.5% of the variation in saving interest can be explained by the two independent variables tested, while the remaining 31.5% is influenced by factors outside this study.
Copyright (c) 2026 Rini Dwi Hastuti, Agus Marimin, Sumadi https://creativecommons.org/licenses/by/4.0
Pengaruh model AIDA pada konten youtube beramal bersama terhadap keputusan berdonasi
This study aims to analyze the influence of the AIDA model (Attention, Interest, Desire, Action) on the decision to donate through the “Beramal Bersama” YouTube channel, using a quantitative approach with 100 respondents selected through a purposive sampling process based on Lemeshow’s formula. Data were collected via a 1–5 Likert-scale questionnaire and analyzed using multiple linear regression with IBM SPSS Statistics. The results of the partial tests indicate that attention (sig. = 0.007), interest (sig.=0.006), and action (sig.=0.000) have a significant effect on the decision to donate, while desire does not have a significant effect (sig.=0.931). Simultaneously, all four variables had a significant effect, contributing 68.2% of the variance, with action being the most dominant variable (β = 0.500). These findings confirm that the AIDA model is not only relevant in the context of commercial marketing communication but is also applicable to video-based digital fundraising.
Copyright (c) 2026 Zahida Zahro, Betty Eliya Rokhmah https://creativecommons.org/licenses/by/4.0
Pengaruh kualitas pelayanan dan transaction fee terhadap kepuasan penggunaan layanan BSI smart agent UIN Madura
This study aims to determine the effect of service quality and transaction fees on the satisfaction of BSI Smart Agent service users at the State Islamic University of Madura, both partially and simultaneously. This study employs a quantitative approach using multiple linear regression analysis on 100 respondents selected via accidental sampling. Data were collected through a questionnaire that had been validated for both validity and reliability, ensuring all items were deemed valid and reliable. The T-test results indicate that service quality has a positive and significant effect on user satisfaction with a significance value of 0.000 < 0.05, and transaction fees have a positive and significant effect on user satisfaction with a significance value of 0.000 < 0.05, where transaction fees are the most dominant variable with a Beta value of 0.452. The F-test results show that service quality and transaction fees simultaneously have a significant effect on user satisfaction with a significance value of 0.000 < 0.05, and an adjusted R-squared value of 0.546, indicating that these two variables account for 54.6% of the variation in user satisfaction Consequently, the managers of the BSI Smart Agent service at UIN Madura need to prioritize evaluating the transaction fee structure while continuing to improve service quality so that user satisfaction particularly among students can be sustainably enhanced.
Copyright (c) 2026 Dian Puspita Sari, Lukmanul Hakim https://creativecommons.org/licenses/by/4.0
Peran implementasi pembiayaan syariah untuk meningkatkan kinerja UMKM
This research focuses on examining the mechanisms and implementation of Sharia financing applied to support the operations of MSMEs (Micro, Small, and Medium Enterprises). Furthermore, it reviews the extent of the impact of Sharia financing on improving the financial and non-financial performance of MSMEs. Additionally, it explores the obstacles faced by MSMEs in accessing Sharia financing and the solutions to overcome them. The research method employs a descriptive qualitative approach. The data source used is secondary data, such as references, journals, books, or documentation related to the research. The data collection technique includes a literature review. The data analysis technique used is qualitative analysis, where the literature review is conducted through several stages, including formulating research questions, searching for literature sources, and evaluating literature sources. The results show that the partnership mechanism in Sharia financing provides profit-sharing, buying-and-selling, and leasing schemes based on real transactions. However, its implementation in the productive sector is still hindered by low literacy levels and banking policies that tend to be consumer-oriented. Furthermore, the multi-dimensional impact of the Sharia scheme is proven to improve the financial performance of MSMEs through cash flow stability and cost efficiency, while simultaneously enhancing non-financial aspects such as management professionalism and the ethical integrity of business actors. Also, regarding synergy and solutions, although hindered by legality and collateral issues, obstacles in accessing capital can be overcome through the digitalization of financial reports, the optimization of Ziswaf (Zakat, Infaq, Sadaqah, and Waqf) funds as guarantors, and character-based scoring assessments. Lastly, economic sustainability is needed, as strengthening Sharia financing for MSMEs creates a positive economic cycle that not only increases the income of business actors but also supports the profitability of Sharia banking and national economic growth.
Copyright (c) 2026 Anto Budi Raharjo Anto Budi, Iin Emy Prastiwi, Abdul Haris Romdhoni https://creativecommons.org/licenses/by/4.0
Pengaruh religiusitas, brand awareness, persepsi kegunaan, persepsi risiko, dan persepsi kualitas terhadap minat berasuransi syariah dengan sikap sebagai variabel mediasi pada generasi milenial
The low level of Islamic insurance adoption in Indonesia indicates that public interest in Islamic insurance products remains relatively low. This study aims to analyze the influence of religiosity, brand awareness, perceived usefulness, perceived risk, and perceived quality on the intention to purchase Islamic insurance, with attitude as a mediating variable among the millennial generation. The study employed a quantitative approach using a purposive sampling technique involving 323 Muslim millennial respondents in Indonesia. The method used was a quantitative approach with primary data collected through questionnaire distribution. This study applied the Structural Equation Modeling–Partial Least Squares (SEM-PLS) method using the SmartPLS application. The results indicate that religiosity (p-value = 0.371) and brand awareness (p-value = 0.687) do not have a significant effect on the intention to purchase Islamic insurance. In contrast, perceived usefulness (p-value = 0.009), perceived risk (p-value = 0.028), perceived quality (p-value = 0.008), and attitude (p-value < 0.001) have significant effects on intention. Attitude was found to mediate the effects of religiosity, brand awareness, and perceived quality on intention, but it did not mediate the effects of perceived usefulness or perceived risk. The novelty of this study lies in examining the role of attitude as a mediating variable within the Theory of Planned Behavior (TPB) model by integrating religiosity, brand awareness, perceived usefulness, perceived risk, and perceived quality in the context of Indonesia's millennial generation. These findings imply that Islamic insurance companies should prioritize improving service quality, product benefits, and fostering positive consumer attitudes to increase the intention to purchase Islamic insurance.
Copyright (c) 2026 Maulita Cahyani, Ach. https://creativecommons.org/licenses/by/4.0
Pengaruh pengetahuan halal dan kesadaran halal terhadap keputusan pembelian konsumen rumah potong hewan Krian kabupaten Sidoarjo
This study aims to analyze the influence of halal knowledge and halal awareness on the purchasing decisions of consumers at the Krian Slaughterhouse (RPH) in Sidoarjo Regency. A quantitative approach was employed, utilizing a survey method involving 148 respondents who were consumers of the Krian Slaughterhouse. The sample was selected using purposive sampling, and data analysis was conducted using Partial Least Squares-Structural Equation Modeling (PLS-SEM). The results indicate that halal knowledge influences purchasing decisions (p < 0.001), whereas halal awareness does not (p = 0.122). These findings suggest that purchasing decisions regarding slaughterhouse services are driven more by the level of understanding concerning the halal concept, Sharia-compliant slaughtering processes, and halal assurance than by the consumers' level of halal awareness. The study's novelty lies in its focus on consumers of slaughterhouse services—specifically meat traders, meat-processing business operators, and service users—a group that has been relatively under-researched compared to consumers of halal products in general. Practically, the study implies that the management of the Krian Slaughterhouse needs to enhance education regarding halal slaughtering processes and the transparency of halal certification information, as well as promote the importance of using official slaughterhouse facilities to boost consumer purchasing decisions regarding these services.
Copyright (c) 2026 Yudhistira Satria Dewa, Moch Khoirul Anwar https://creativecommons.org/licenses/by/4.0
Peran lembaga keuangan syariah BMT Hira dalam pemberdayaan ekonomi masyarakat Donoyudan Kalijambe Sragen
This study aims to analyze the role of Baitul Maal wat Tamwil (BMT) Hira in the economic empowerment of the community in Donoyudan Village, Kalijambe District, Sragen Regency. The study employed a qualitative approach with a descriptive design. Data were collected through in-depth interviews, field observations, and documentation, and were analyzed using domain, taxonomic, componential, and cultural theme analysis. The findings show that BMT Hira contributes to economic empowerment through the provision of sharia-based financing, savings services, financial education, business assistance, and the management of ZISWAF funds. These roles demonstrate the integration of the Baitul Tamwil function through financing services and the Baitul Maal function through social activities. In its implementation, BMT Hira faces several challenges, including limited public understanding of Islamic finance, financing risks associated with agricultural activities, limitations in capital and technology, and competition from informal financing sources. BMT Hira responds to these challenges through direct education using a jemput bola approach, flexible financing arrangements based on business conditions and harvest periods, cooperation with larger institutions, information system modernization, and relatively accessible and responsive services while maintaining sharia principles. The study indicates that economic empowerment through BMT involves the integration of financing, social functions, education, business assistance, and institutional adaptability to local community conditions.
Copyright (c) 2026 Widodo, Muhammad Tho'in, Iin Emy Prastiwi https://creativecommons.org/licenses/by/4.0
Pengaruh religiusitas, kepercayaan, dan gaya hidup terhadap keputusan berdonasi uang kembalian
The growth of "spare change" donation programs in modern retail has turned shopping into a vehicle for public philanthropy, making it important to examine the factors influencing consumer decisions to donate. This study aims to analyze the influence of religiosity, trust, and lifestyle on the decision of modern retail consumers in Surabaya to donate their spare change. A quantitative approach was employed, utilizing primary data collected via Google Forms questionnaires from 110 Muslim consumers selected through purposive sampling. Data analysis was conducted using multiple linear regression with the aid of SPSS (Statistical Product and Service Solutions) software, version 22. The results indicate that trust has a positive and significant effect on the donation decision (significance value of 0.006), followed by lifestyle (significance value of 0.000), whereas religiosity does not have a significant effect (significance value of 0.514). These findings suggest that, in the context of spare change donations at modern retail outlets, consumer decisions are driven more by trust or lifestyle than by religiosity; this may be attributed to the fact that the majority of respondents were aged 17–24 a stage of early adulthood characterized by emotional instability and susceptibility to rapid change, factors that often influence an individual's level of religiosity as they mature.
Copyright (c) 2026 Muhammad Ad Din Shofi, Irfan Ramis https://creativecommons.org/licenses/by/4.0
Perilaku konsumen muslim dalam perspektif etika konsumsi Islami
Research on Muslim consumer behavior in participating in modern retail promotional programs is still relatively limited, especially those that examine consumers' subjective experiences from the perspective of Islamic consumption ethics. This study aims to analyze the shopping behavior of Muslim consumers and examine the application of Islamic consumption ethics in participating in the Tebus Murah Program at Indomaret in Bogokidul Village. The study used a qualitative approach with a phenomenological method through observation, in-depth interviews, and documentation techniques. The results show that consumer shopping behavior is influenced by needs, price considerations, product benefits, and promotional programs, as well as through stages of consumer decision-making. In general, Muslim consumer shopping behavior has reflected the principles of Islamic consumption ethics, although its application has not been fully consistent in every purchasing decision. The findings of this study contribute to the development of studies on Muslim consumer behavior in the context of modern retail promotions and serve as a reference for retail managers in designing promotional strategies that are in line with sharia values.
Copyright (c) 2026 Rizki Amalia Indana Ardiyanti , Irfan Ramis https://creativecommons.org/licenses/by/4.0