achmad nasrulloh
pascasarjana uin sayyid ali rahmatullah tulungagung

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A Comparison of Sharia Screening and Environmental, Social, and Governance Investing in Halal Investment Planning for the Muslim Generation achmad nasrulloh; Nungki Hayukusuma; Siti Faridah; Agus Eko Sujianto; Amalia Nuril Hidayati
Ecopreneur : Jurnal Ekonomi dan Bisnis Islam Vol. 7 No. 1 (2026): Ecopreneur : Jurnal Ekonomi dan Bisnis Islam
Publisher : Institute of Research and Community Service at Islamic University of Bunga Bangsa Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47453/ecopreneur.v7i2.4473

Abstract

The rapid growth of the Islamic capital market—dominated by young Muslims—has given rise to dual investment preferences: absolute adherence to Sharia principles and compliance with Environmental, Social, and Governance (ESG) standards. The integration of these two frameworks often creates ethical dilemmas due to their differing philosophical foundations. This study aims to critically compare Sharia screening mechanisms with ESG standards and to formulate adaptive halal financial planning strategies. Using a systematic literature review method, a qualitative analysis was conducted on OJK regulations, DSN-MUI fatwas, and global sustainability literature. The synthesis confirms strong convergence regarding the rejection of “sin stocks” and the need for increased transparency in corporate governance. Fundamental divergence, however, arises regarding the tolerance threshold for usurious debt systems, where ESG standards could potentially approve environmentally friendly projects that involve usury—which is absolutely prohibited under Islamic commercial law (fiqh muamalah). These findings recommend the need for retail investors to implement dual screening (Sharia-ESG integration). As a strategic projection, stock exchange authorities need to immediately develop a single hybrid index to create an investment architecture that is financially profitable, resilient during crises, and consistent with the essence of Maqashid al-Shariah.
Pengaruh Suku Bunga Global dan Inflasi Terhadap Arus Investasi Asing di Negara Asean Achmad Nasrulloh; Nila Nafisatul Bashiroh; Ahmad Ibnul Karim; Sulistiyah Sulistiyah; Rokhmat Subagiyo; Muhammad Aswad
EKOMA : Jurnal Ekonomi, Manajemen, Akuntansi Vol. 5 No. 6: September 2026
Publisher : CV. Ulil Albab Corp

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56799/ekoma.v5i6.19053

Abstract

Arus investasi asing merupakan salah satu indikator penting dalam menilai kinerja dan daya tarik ekonomi suatu negara, khususnya di kawasan ASEAN. Penelitian ini bertujuan untuk menganalisis pengaruh suku bunga global dan inflasi terhadap arus investasi asing di negara-negara ASEAN, yaitu Indonesia, Malaysia, Vietnam, dan Thailand selama periode 2005–2024. Metode yang digunakan adalah kuantitatif dengan jenis penelitian asosiatif menggunakan regresi data panel (regresi linier berganda), dengan data diperoleh dari World Bank. Data penelitian yang digunakan merupakan data time series dan cross section dari empat negara ASEAN dalam periode pengamatan. Analisis data dilakukan menggunakan SPSS. Hasil penelitian menunjukkan bahwa suku bunga global memiliki pengaruh negatif terhadap arus investasi asing, inflasi memiliki pengaruh negatif terhadap arus investasi asing, serta secara simultan kedua variabel independen berpengaruh signifikan terhadap arus investasi asing (F = 8,463; p = 0,02). Nilai koefisien determinasi (R Square) sebesar 0,635 menunjukkan bahwa variasi arus investasi asing dapat dijelaskan oleh kedua variabel tersebut sebesar 63,5%. Hasil ini diharapkan dapat menjadi dasar bagi pemerintah dalam merumuskan kebijakan ekonomi makro yang stabil dan adaptif, serta menjadi kontribusi bagi kajian manajemen keuangan internasional khususnya terkait dinamika investasi asing di kawasan ASEAN.