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IMPACT INVESTING VS. PHILANTHROPY: A COMPARATIVE ANALYSIS OF FUNDING MODELS FOR LONG-TERM SUSTAINABILITY IN SOCIAL ENTREPRENEURSHIP Murah Murah; Rashid Rahman; Robert Harris
Journal of Social Entrepreneurship and Creative Technology Vol. 2 No. 4 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/jseact.v2i4.2595

Abstract

Social entrepreneurship has emerged as a critical force for addressing complex global challenges. However, the long-term sustainability of these ventures remains a significant hurdle. A central debate within the sector concerns the efficacy of its two primary funding paradigms: traditional grant-based philanthropy, which prioritizes social outcomes, and market-driven impact investing, which demands both social and financial returns. This research provides a rigorous comparative analysis of impact investing and philanthropic funding models. It specifically investigates how each model distinctly influences the long-term operational and financial sustainability, scalability, and mission integrity of established social enterprises. A qualitative, multiple case study methodology was employed. The study analyzed a purposively selected sample of (n=12) mature social enterprises, stratified into two cohorts: six funded primarily by philanthropy and six funded primarily by impact capital. Data were gathered via semi-structured interviews with founders/CEOs and longitudinal analysis of organizational reports and financial statements. The findings indicate that philanthropic funding is essential for early-stage risk-taking and deep-impact programming but often correlates with restricted growth and long-term funding dependency. Conversely, impact investing successfully drives operational discipline and scalability. This model, however, introduces significant pressures that increase the risk of “mission drift” as enterprises prioritize financial benchmarks over core social objectives. Neither funding model is unilaterally superior. The research concludes that long-term sustainability in social entrepreneurship is not an “either/or” proposition. It is best achieved through a strategically phased, hybrid financial ecosystem that leverages philanthropy for mission-critical capacity-building and impact investing for scaling proven, market-based solutions.
Sustainable Aquaculture Models for Coastal Communities in Indonesia: A Review of Integrated Mangrove-Shrimp Farming Systems Muhammad Amien; Rashid Rahman; Nurul huda; Anna Dara
Journal of Multidisciplinary Sustainability Asean Vol. 2 No. 5 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/ijmsa.v2i5.2763

Abstract

Background. Coastal communities in Indonesia depend heavily on aquaculture for economic security, yet conventional shrimp farming practices have contributed to substantial mangrove loss, declining water quality, and reduced long-term productivity. Growing recognition of these environmental challenges has led to increasing interest in integrated mangrove–shrimp farming systems as a sustainable alternative capable of balancing ecological restoration with livelihood needs. Purpose. This review aims to evaluate existing models of integrated mangrove shrimp aquaculture in Indonesia by examining their ecological performance, economic benefits, and socio-cultural relevance for coastal communities.   Method. A qualitative research design was employed using a systematic literature review of national and international studies published between 2010 and 2024, supported by thematic analysis to identify dominant patterns and gaps. Results. The findings reveal that integrated systems particularly the silvofishery model combining mangrove restoration with semi-intensive shrimp cultivation provide measurable ecological advantages, including improved water filtration, enhanced biodiversity, and reduced disease outbreaks. Economic outcomes vary but generally demonstrate increased long-term profitability due to lower input costs and more stable yields compared to conventional monoculture farms. Social acceptance is strong in communities with existing mangrove stewardship practices, although constraints such as limited technical knowledge and unclear tenure arrangements remain significant barriers. Conclusion. The study concludes that integrated mangrove–shrimp systems offer a viable sustainability pathway for Indonesian coastal regions when supported by community training, clear land-use regulations, and targeted government incentives. These models illustrate how ecological conservation and aquaculture productivity can be mutually reinforcing within community-based resource management frameworks.
The Role of Nahdatul Ulama (NU) in Ptomoting Islam Wasatiyyah (Moderate Islam) As A Counter- Narrative to Global Radicalism Mirzon Daheri; Syafiq Amir; Rashid Rahman; Saiful Fallah
Journal of Noesantara Islamic Studies Vol. 2 No. 4 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/jnis.v2i4.3227

Abstract

The rise of global radicalism in recent decades has posed significant challenges to the integrity and peace of the Muslim community. In response to this, Islamic organizations such as Nahdlatul Ulama (NU) have become pivotal in promoting Islam Wasatiyyah, or moderate Islam, as an antidote to extremism. NU’s unique position in Indonesia and its global influence present an opportunity to examine its role in counteracting radical ideologies. This study aims to explore the contributions of Nahdlatul Ulama in promoting Islam Wasatiyyah as a counter-narrative to the growing threat of global radicalism. It investigates how NU’s teachings and activities advocate for moderation, tolerance, and inclusivity in Islamic practices. This qualitative study employs a literature review and content analysis of key NU texts, official statements, and related theological works. Interviews with NU scholars and activists further enrich the understanding of NU’s strategies in promoting a moderate Islam. The findings suggest that NU’s emphasis on the middle path of Islam has provided a strong theological foundation against radical ideologies. Through its educational programs, interfaith dialogues, and advocacy for pluralism, NU has successfully advocated for Islam Wasatiyyah as a key component of peace-building efforts. Nahdlatul Ulama plays a significant role in fostering a moderate interpretation of Islam, thereby offering an effective counter-narrative to global radicalism. Its efforts are crucial in the global fight against extremism.
ISLAMIC ART AND ARCHITECTURE: THE INTERSECTION OF THEOLOGY, CULTURE, AND AESTHETICS IN THE MUSLIM WORLD Rashid Rahman; Nina Anis; Muchlis Daroini
Journal of Noesantara Islamic Studies Vol. 3 No. 1 (2026)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/jnis.v3i1.3462

Abstract

Islamic art and architecture represent a profound manifestation of the spiritual, cultural, and intellectual traditions of the Muslim world. Throughout history, artistic and architectural expressions in Islamic civilization have not only served aesthetic purposes but have also embodied theological principles and cultural identities. This study aims to analyze how theological concepts, cultural contexts, and aesthetic philosophies interact in shaping Islamic art and architecture across the Muslim world. The study employs a qualitative research design using an interdisciplinary analytical approach that integrates perspectives from Islamic studies, art history, cultural studies, and architectural theory. Data were collected through document analysis of architectural records, historical sources, and scholarly literature, followed by thematic interpretation and comparative analysis of selected Islamic architectural examples. The findings reveal that Islamic art and architecture consistently reflect theological concepts such as tawhid, harmony, and transcendence through geometric ornamentation, calligraphic decoration, and balanced spatial structures. Cultural diversity across regions contributes to stylistic variation while maintaining shared symbolic principles rooted in Islamic belief. The study concludes that Islamic art and architecture function as integrated expressions of theology, culture, and aesthetics, illustrating how religious worldview and cultural identity shape artistic creativity within the Muslim world.
THE USE OF MOBILE APPLICATIONS FOR LANGUAGE LEARNING: A STUDY ON EFFECTIVENESS AND STUDENT PERCEPTIONS Nyak Mustakim; Syafiq Amir; Rashid Rahman
Journal International Inspire Education Technology Vol. 5 No. 2 (2026)
Publisher : Sekolah Tinggi Agama Islam Al-Hikmah Pariangan Batusangkar, West Sumatra, Indonesia.

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55849/jiiet.v5i2.1248

Abstract

The integration of mobile applications in language learning has gained significant attention due to their potential to enhance educational experiences. While several studies have explored their effectiveness, the relationship between mobile app usage and language proficiency improvements remains unclear. This research aims to evaluate the effectiveness of mobile applications for language learning and to explore students’ perceptions of these tools. A mixed-methods approach was employed, combining quantitative assessments of language proficiency (pre- and post-test scores) and qualitative student feedback through perception questionnaires and interviews. The sample consisted of 200 undergraduate students from a university, with 100 students using mobile applications and 100 using traditional methods. The findings revealed that the experimental group showed significant improvements in language proficiency, particularly in vocabulary and grammar, compared to the control group. Moreover, students in the experimental group reported higher satisfaction and engagement levels. These results suggest that mobile applications can significantly enhance language learning outcomes while offering an engaging, flexible learning experience. The study contributes to the growing body of research on mobile learning by providing a comprehensive evaluation of both objective outcomes and subjective experiences. Further research is needed to explore long-term impacts and the effectiveness of specific app features on language acquisition.
THE EFFECT OF PROJECT-BASED LEARNING ON 21ST CENTURY SKILLS IN MIDDLE SCHOOL STUDENTS IN INDONESIA Rashid Rahman; Chak Sothy; Yoga Anjas Pratama; Omar Khan
Lingeduca: Journal of Language and Education Studies Vol. 4 No. 1 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/lingeduca.v4i1.2125

Abstract

In the context of global educational transformation, the integration of 21st-century skills into learning practices has become imperative, particularly for preparing students to face complex challenges in the modern era. This study investigates the effect of Project-Based Learning (PjBL) on the development of 21st-century skills—critical thinking, collaboration, creativity, and communication—among middle school students in Indonesia. The objective of the research is to determine whether PjBL significantly enhances these competencies compared to conventional instructional methods. A quantitative approach with a quasi-experimental design was employed, involving two groups of Grade 8 students from a public middle school in West Java. The experimental group received instruction through PjBL, while the control group experienced traditional teaching. Data were collected using a 21st-century skills rubric and analyzed using independent sample t-tests. The findings revealed that students exposed to PjBL demonstrated significantly higher performance in all four skill domains. These results underscore the effectiveness of PjBL as a student-centered approach that fosters meaningful learning experiences aligned with real-world contexts. In conclusion, Project-Based Learning has a positive and significant impact on the enhancement of 21st-century skills in middle school students and is recommended for broader implementation in Indonesian education.
Supply Chain Risk Management and Financial Performance: Empirical Study of Manufacturing Companies in Southeast Asia Rizal Perlambang; Rashid Rahman; Aiman Fariq
Journal Markcount Finance Vol. 3 No. 1 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/jmf.v3i1.1951

Abstract

Supply chain risk management (SCRM) has become a critical concern for manufacturing companies, particularly in Southeast Asia, where globalization and market volatility pose significant challenges. Effective SCRM is essential for maintaining operational stability and achieving financial performance. However, empirical evidence on the relationship between SCRM practices and financial outcomes in this region remains limited. This study aims to investigate the impact of supply chain risk management on the financial performance of manufacturing companies in Southeast Asia, providing insights into how SCRM practices can enhance profitability and resilience. A quantitative research design was employed, utilizing survey data collected from 250 manufacturing companies across Southeast Asia. Structural equation modeling (SEM) was used to analyze the relationships between SCRM practices and financial performance indicators, such as return on assets (ROA) and profit margins. The findings reveal that effective SCRM practices, including risk identification, assessment, and mitigation, significantly improve financial performance. Companies with robust SCRM systems reported higher profitability and greater resilience to disruptions. Risk mitigation strategies, in particular, were found to have the strongest positive impact on financial outcomes. This study highlights the importance of implementing comprehensive SCRM practices to enhance financial performance in the manufacturing sector.  
Big Data Analytics for Corporate Financial Decision-Making: Evidence from ASEAN Capital Markets Gogor Christmass Setyawan; Rina Farah; Rashid Rahman; Ii Sopiandi
Journal Markcount Finance Vol. 3 No. 2 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/jmf.v3i2.2493

Abstract

The increasing availability and complexity of big data have revolutionized decision-making in various sectors, including corporate finance. In the context of ASEAN capital markets, companies are facing pressure to adopt data-driven strategies to enhance their financial decision-making processes. Big data analytics offers the potential to improve the accuracy of predictions, optimize investment strategies, and manage risks more effectively. This study aims to explore the impact of big data analytics on corporate financial decision-making in ASEAN capital markets, focusing on how organizations utilize data-driven insights to enhance decision-making efficiency and profitability. The research employs a mixed-methods approach, combining quantitative analysis of financial data from publicly listed companies in ASEAN with qualitative interviews from financial executives. The results indicate a positive relationship between big data analytics adoption and improved financial decision-making, particularly in areas of market forecasting, risk management, and asset allocation. Companies that have integrated big data analytics into their financial strategies report better performance in terms of profitability and shareholder value. The study concludes that big data analytics can significantly enhance corporate financial decision-making in ASEAN markets, offering a competitive edge in a rapidly evolving global economy.
Blockchain-Based Smart Contracts in Microfinance: Enhancing Trust and Reducing Transaction Costs in Southeast Asia Farida Akbarina; Nina Anis; Rashid Rahman
Journal Markcount Finance Vol. 3 No. 3 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/jmf.v3i3.3022

Abstract

Microfinance plays a vital role in financial inclusion in Southeast Asia, yet persistent challenges such as high transaction costs, information asymmetry, and limited transparency continue to undermine institutional sustainability and borrower trust. This study aims to examine how blockchain-based smart contracts enhance trust and reduce transaction costs within microfinance institutions operating in Southeast Asia. A mixed-methods research design is employed, combining quantitative analysis of transaction cost indicators, loan processing efficiency, and repayment performance with qualitative insights from microfinance practitioners and borrowers. Data are collected from selected institutions implementing smart contract systems in Indonesia, Vietnam, and the Philippines. The results indicate significant reductions in administrative, monitoring, and enforcement costs alongside faster loan disbursement processes. Improved transparency and automated contract execution contribute to higher levels of borrower trust, fewer disputes, and stronger repayment discipline. The findings reveal a positive relationship between transaction cost reduction and trust enhancement, suggesting that operational efficiency reinforces institutional credibility. The study concludes that blockchain-based smart contracts function as socio-technical mechanisms that reshape governance structures in microfinance rather than serving solely as efficiency tools. The novelty of this research lies in its empirical demonstration that technological trust embedded in smart contracts can complement and partially replace relational trust, offering a context-sensitive framework for digital financial inclusion in Southeast Asia.
BLOCKCHAIN-BASED WAQF MANAGEMENT: A SHARIA-COMPLIANT INNOVATION FOR TRANSPARENT GOVERNANCE IN MALAYSIA Zain Nizam; Rashid Rahman; Aiman Fariq
Sharia Oikonomia Law Journal Vol. 3 No. 4 (2025)
Publisher : Yayasan Adra Karima Hubbi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70177/solj.v3i4.2196

Abstract

The governance of waqf institutions in Malaysia has faced persistent challenges related to transparency, accountability, and public trust. Traditional waqf management practices often lack systematic reporting, real-time monitoring, and effective stakeholder engagement, leading to inefficiencies and potential misuse of assets. In response to these issues, this study explores the implementation of blockchain technology as an innovative and Sharia-compliant solution to enhance waqf governance. The aim of this research is to examine the potential of blockchain-based systems to provide transparent, immutable, and decentralized management mechanisms for waqf assets within the Malaysian context. Employing a qualitative methodology, data were gathered through interviews with Islamic finance experts, waqf practitioners, and blockchain developers, complemented by document analysis of regulatory frameworks and case studies. The findings indicate that blockchain technology can significantly improve waqf transparency, traceability of donations, and real-time auditability, while ensuring compliance with Islamic legal principles. However, successful adoption requires legal reform, stakeholder digital literacy, and standardized technical frameworks. This research contributes to the evolving discourse on Islamic financial innovation, highlighting the transformative potential of blockchain for ethical and transparent asset management in Muslim societies.