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Journal : Jurnal Ilmiah Manajemen Kesatuan

Hisbah in the Context of Shariah Governance in Islamic Finance: A Comparison Between Indonesia and Malaysia Febrina, Ilza; Abdulah, Budiman
Jurnal Ilmiah Manajemen Kesatuan Vol. 12 No. 6 (2024): JIMKES Edisi November 2024
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v12i6.2957

Abstract

The Role of Hisbah has been more essential in contemporary world in promoting Ethical Values and Justice in the Society. In Islamic finance setting, the role of  Hisbah has been increasingly relevant in modern financial governance especially to ensure that its operation align with the ethical standards  and Shariah principles. This paper is aimed to overview the concept and urgency of Hisbah and several related major issues such as Core values of the  Shariah governance framework (SGF) in Islamic Finance, at last to further discuss the SGF’s comparison between Malaysia and Indonesia. The paper adopts  a descriptive approach to examine the role of Hisbah in Islamic Finance specifically in the context of SGF. The data, sourced from various journals and books were collected and analysed to find the conclusion  regarding the role of Hisbah in promoting adherence to Sharia principles in contemporary Islamic Finance and a brief comparative overview of SGF between Malaysia and Indonesia. The findings of the paper highlight  that Malaysia's Shariah governance framework is characterized by a centralized, standardized approach with compliance mechanisms strictly enforced through BNM and SAC to ensure consistency. In contrast, the Indonesian framework is more flexible.  the DSN-MUI gives guidance for IFIs as an independent body that exercise their discretion in interpreting Shariah rulings. These two approaches represent the level of regulatory priorities and development aspects of Islamic finance in each country.
The Influence Of Digital Transformation And Transparency On Ziswaf Payment Decisions And Its Impact On Millennial Loyalty Mustafa, Ahmad Zaenal; Abdulah, Budiman
Jurnal Ilmiah Manajemen Kesatuan Vol. 13 No. 5 (2025): JIMKES Edisi September 2025
Publisher : LPPM Institut Bisnis dan Informatika Kesatuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37641/jimkes.v13i5.3624

Abstract

This study investigates the influence of digital transformation and transparency on ZISWAF (Zakat, Infaq, Sadaqah, and Waqf) payment decisions and their subsequent impact on millennial loyalty, with a focus on LAZISMU DKI Jakarta. Employing a quantitative, associative research approach, data were collected from 150 millennial respondents through structured questionnaires. Structural Equation Modeling using Partial Least Squares (SEM-PLS) was applied for data analysis. The results demonstrate that digital transformation significantly affects both payment decisions and user loyalty, while transparency does not directly influence payment decisions but contributes to loyalty. Furthermore, ZISWAF payment decisions are shown to have a positive and significant effect on millennial loyalty. These findings underscore the strategic importance of service digitization and transparent fund management in enhancing youth engagement and long-term donor commitment in Islamic philanthropic institutions. Keywords: Digital Transformation, Transparency, ZISWAF, Payment Decision, Millennial Loyalty