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The Influenceof Sharia Financial Technology on the Development of MSMEs Hutagalung, Muhammad Wandisyah R; Alfadri, Ferri; Nasution, Eswin
Wealth: Journal of Islamic Banking and Finance Vol. 2 No. 2 (2023)
Publisher : Faculty of Islamic Economics and Business, UIN Prof. K. H. Saifuddin Zuhri Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24090/wealth.v2i2.9679

Currently, the use of fintech is very common in everyday life and continues to increase, but there are still many MSME players who have not been able to realize and be able to use it properly. Increasing financial literacy and the use of fintech can be a big model to help MSME players minimize the risks that occur in making decisions to improve financial performance. The purpose of this study is to determine and analyze the influenceof Fintech Peer to Peer Lending and Payment Gateway on the development of MSMEs in North Sumatra Province. This type of research is field research with a Quantitative approach with primary data obtained from questionnaires that have been distributed to MSME actors in North Sumatra Province, totaling 109 samples which are then processed with Structural Equation Modeling (SEM) techniques.Judging from the results of structural model analysis or inner model throughhypothesis testing path coefficients and T statistical significance values by determining T-statistical values through bootstrapping procedures. So it can be concluded that X1 or P2P has a positive and significant effect on the development of MSMEs in North Sumatra Province. While the resulting value in the variableX2 to Y with t Statistic 2.131 and p Value 0.034 can be explained by the value of t Statistic 2.131 > t table 1.96 or p Value 0.034 < 0.05, then statistically H2 is accepted meaning that variable X2 has a significant effect on Y. So it can be concluded that X2 or Payment Gateway has a positive and significant effect on the development of MSMEs in North Sumatra Province. variabel X2 berpengaruh signifikan terhadap Y. So it can be concluded that X2 or Payment Gateway has a positive and significant effect on the development of MSMEs in North Sumatra Province.

DETERMINANT OF ISLAMIC BANK SUKUK RATINGS IN INDONESIA Hutagalung, Muhammad Wandisyah R; Ana Siregat, Fitria; Arisha, Bella; Zefriani Nasution, Ella
Jurnal Ilmu Akuntansi dan Bisnis Syariah (AKSY) Vol 7, No 1 (2025): Jurnal Ilmu Akuntansi dan Bisnis Syariah
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/aksy.v7i1.43411

This study aims to model the factors influencing the Sukuk Ratings at Sharia Commercial Banks in Indonesia by examining key financial variables, including Return on Assets, Return on Equity, Firm Size, Stock Profit, and Debt-to-Equity Ratio. Sukuk ratings provide crucial information for potential investors to assess the risk and return of purchasing specific sukuks. A decline in Sukuk ratings, as observed in this research, could reduce investor interest and increase the risk of default. Sukuk levels, issued by authorized rating agencies, are essential for enabling investors to estimate the risks associated with their investments. Using a quantitative approach with panel data from the PEFINDO website covering three Sharia Commercial Banks from 2021 to 2023, this research applies the Common Effect Model for regression analysis. The findings indicate that variables ROA, ROE, Firm Size, and Stock Profit significantly influence Sukuk Ratings, while DER does not. The coefficient of determination (R²) is 0.77895, indicating that these independent variables explain 77.895% of the variance in sukuk ratings. This model provides valuable insights for investors and regulators in understanding the factors affecting sukuk ratings, thereby aiding better decision-making, enhancing investor confidence, and supporting the growth of the Islamic capital market.

DETERMINANT OF ISLAMIC BANK SUKUK RATINGS IN INDONESIA Hutagalung, Muhammad Wandisyah R; Fitria Ana Siregat; Bella Arisha; Ella Zefriani Nasution
Jurnal Ilmu Akuntansi dan Bisnis Syariah (AKSY) Vol. 7 No. 2 (2025): Jurnal Ilmu Akuntansi dan Bisnis Syariah
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/aksy.v7i2.45878

This study aims to model the factors influencing the Sukuk Ratings at Sharia Commercial Banks in Indonesia by examining key financial variables, including Return on Assets, Return on Equity, Firm Size, Stock Profit, and Debt-to-Equity Ratio. Sukuk ratings provide crucial information for potential investors to assess the risk and return of purchasing specific sukuks. A decline in Sukuk ratings, as observed in this research, could reduce investor interest and increase the risk of default. Sukuk levels, issued by authorized rating agencies, are essential for enabling investors to estimate the risks associated with their investments. Using a quantitative approach with panel data from the PEFINDO website covering three Sharia Commercial Banks from 2021 to 2023, this research applies the Common Effect Model for regression analysis. The findings indicate that variables ROA, ROE, Firm Size, and Stock Profit significantly influence Sukuk Ratings, while DER does not. The coefficient of determination (R²) is 0.77895, indicating that these independent variables explain 77.895% of the variance in sukuk ratings. This model provides valuable insights for investors and regulators in understanding the factors affecting sukuk ratings, thereby aiding better decision-making, enhancing investor confidence, and supporting the growth of the Islamic capital market.

Cybersecurity Behavior as a Reflection of Ḥifẓ al-Māl in Islamic Banking: A Behavioral Model Based on Protection Motivation Theory Hutagalung, Muhammad Wandisyah R; Siregar, Saparuddin; Furqan, Mhd.; Pulungan, Ismail; Elce, Furkan
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 15 No. 2 (2025): October (on going)
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2025.15.2.127-153

This study examines psychological determinants of cybersecurity protection behavior among Islamic banking customers by applying Protection Motivation Theory (PMT) within a maqāṣid al-sharīʿah framework. Using a quantitative survey (N = 384) and PLS-SEM, it tests the effects of perceived vulnerability, severity, self-efficacy, response efficacy, response cost, and social influence, as well as the moderating role of cybersecurity education. Results show that vulnerability, severity, response efficacy, and social influence significantly predict protection behavior, while self-efficacy and response cost do not. Cybersecurity education has no significant moderating effect. The model explains 69.6% of the variance, indicating strong explanatory power. The study contributes by linking PMT to Islamic economic principles, particularly ḥifẓ al-māl and amānah. It suggests that Islamic banks need community-based, values-driven cybersecurity education to foster sustainable protective behavior.

Determinants of The Use of The Flip Application on UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan Students Hutagalung, Muhammad Wandisyah R; Elce, Furkan; Lestari, Sry
Journal of Islamic Financial Technology Vol 2, No 1 (2023): JIFTECH : Journal Of Islamic Financial Technology
Publisher : UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/jiftech.v2i1.8396

Islamic banking study program students who already know the admin fee-free application, but only a few use the admin fee-free application. Even though it is easy and useful, only some students use the flip application, and some students still believe in doing transactions using the flip applicationfeel more comfortable doing transactions directly to the ATM. The formulation of the problem in this study is whether there is a partial and simultaneous effect of ease, benefit, and trust in the decision to use the flip application for students of the Islamic Banking study program at Syekh Ali Hasan Ahmad Addary State Islamic University Padangsidimpuan. Objective the research was to determine the effect of convenience, usefulness, trust partially and simultaneously on students of the Islamic Banking study program at the State Islamic University of Syekh Ali Hasan Ahmad Addary Padangsidimpuan. The theory in this study uses the factors that influence decisions, namely: perceived usefulness, perceived ease of use, attitude, and behavioral intention. This research is a quantitative research, the data source used is primary data and data collection using questionnaires and documentation techniques.The research sample is 89 samples with techniques purposive sampling. The data analysis techniques used in this study are validity test, reliability test, normality test, multicollinearity test, heteroscedasticity test, coefficient of determination test (R 2 ), partial test (t test), and simultaneous significant test (F test), multiple linear analysis. The results of the study show that partially the variables of convenience, usefulness and trust influence the decision to use the flip application in students of the Islamic Banking study program at Syekh Ali Hasan Ahmad Addary Padangsidimpuan State Islamic University. Simultaneously the variables of convenience, usefulness, and trust influence the decision to use the flip application in students of the Islamic Banking study program at the State Islamic University of Syekh Ali Hasan Ahmad Addary Padangsidimpuan.

Tokenization of Dinar and Dirham: Potential and Implications in the Islamic Digital Financial System Hutagalung, Muhammad Wandisyah R; Majid, M. Shabri Abd; Harahap, Isnaini
Journal of Islamic Financial Technology Vol 3, No 1 (2024): JIFTECH : Journal Of Islamic Financial Technology
Publisher : UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/jiftech.v3i1.12353

In the era of digitalization, the Islamic community faces challenges in integrating modern technology with Shariah principles in financial transactions. This study explores the potential and implications of tokenizing Dinar and Dirham within the Islamic digital financial system. Dinar and Dirham, currencies made of precious metals, can be tokenized using blockchain technology, enabling faster, more secure, and transparent transactions. Tokenization offers benefits such as transparency, security, efficiency, and financial inclusion, which are crucial in Islamic financial principles. However, the main challenges include regulation, Shariah compliance, technological infrastructure, and public awareness and education. Case studies from Dubai and Saudi Arabia demonstrate efforts and successes in asset tokenization. This study concludes that tokenization of Dinar and Dirham has significant potential to address the challenges of digitalization in Islamic finance, but requires collaboration among governments, financial institutions, and communities. Further research is needed to understand the long-term impact and practical application of tokenization in the Islamic financial system.

From Tradition to Innovation: Tokenizing Dinar and Dirham for the Islamic Digital Economy Hutagalung, Muhammad Wandisyah R; Mairiza, Diany
Journal of Islamic Financial Technology Vol 3, No 2 (2024)
Publisher : UIN Syekh Ali Hasan Ahmad Addary Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/jiftech.v3i2.14645

This research explores the potential and implications of tokenizing Dinar and Dirham in the context of Islamic digital finance, with a focus on the use of blockchain technology to facilitate their integration into the global financial system. The study adopts a qualitative approach, analyzing data derived from scholarly publications, online resources, and case studies from countries like the UAE and Malaysia, which are exploring blockchain-based Islamic currencies. The research examines the fundamental principles of Dinar (gold) and Dirham (silver) as intrinsic-value currencies within Islamic finance, highlighting their alignment with Sharia principles such as transparency, fairness, and the prohibition of riba (interest). Furthermore, the study explores the concept of tokenization, its application in the digital economy, and its potential to offer stable, inflation-free payment solutions.Key findings indicate that tokenized Dinar and Dirham can enhance financial inclusion, promote economic stability, and provide an alternative to volatile fiat currencies. Blockchain technology is identified as an effective platform for supporting these tokenized currencies, ensuring transparency, security, and decentralization in compliance with Sharia law. However, the research also identifies several challenges, including regulatory uncertainties, technological scalability issues, and societal resistance to adopting digital currencies. Drawing on case studies, the research highlights the importance of clear regulatory frameworks, technological advancements, and financial literacy programs to support the widespread adoption of tokenized Islamic currencies.The study concludes with policy recommendations aimed at addressing these challenges, emphasizing the need for a collaborative approach involving regulators, financial institutions, and technology providers. Future research directions include exploring the practical implementation of tokenized Dinar and Dirham and examining consumer behavior and the broader economic impact of these digital currencies. This research contributes to the growing discourse on Islamic digital finance and offers insights into how tokenized Dinar and Dirham can potentially reshape the future of finance in Muslim-majority countries. Keywords: Tokenization, Dinar, Dirham, Blockchain, Islamic Finance, Digital Currency, Sharia Compliance.

Analisis Pendistribusian ZIS BAZNAS Tapanuli Selatan Lubis, Wenni Sakinah; Nofinawati, Nofinawati; Hutagalung, Muhammad Wandisyah R
Journal of Islamic Social Finance Management Vol 4, No 2 (2023): DESEMBER 2023
Publisher : Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Negeri Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/jisfim.v4i2.10299

Pendistribusian zakat infak dan sedekah yang ada di BAZNAS kabupaten Tapanuli Selatan belum menyentuh seluruh masyarakat miskin yang ada di Tapanuli Selatan karena dana yang terbatas. Penelitian ini merupakan penelitian kualitatif. Hasil penelitian menjelaskan bahwa mekanisme pendistribusian zakat infak dan sedekah ada 4 kategori yaitu pada bidang ekonomi melalui penyaluran dalam bentuk konsumtif dimana amil zakat BAZNAS Kabupaten Tapanuli Selatan memberikan dana tersebut setiap 4 kali dalam setahun pada bulan safari muharram, safari rabiul awal, safari ramadhan, safarii maulid. Pada bidang pendidikan, BAZNAS Daerah Kabupaten Tapanuli memberikan bantuan berupa dana zakat. Pada bidang kesehatan, bantuann untuk pada fakir miskin yang terkena penyakit yang terkendala pada biaya seperti penyakit tumor, kanker serta bantuan untuk sunatan massal yang bekerjasma dengan dinas kesehatan. Pada bidang sosial, BAZNAS Daerah Kabupaten Tapanuli Selatan memiliki program pendistribusian seperti pembangunan madrasah yang terbengkalai dan pembangunan masjid, yang dananya diambil dari dana infak dan sedekah.

Analisis Pendistribusian Zakat Infak Dan Sedekah BAZNAS Tapanuli Selatan Lubis, Wenni Sakinah; N, Nofinawati; Hutagalung, Muhammad Wandisyah R
Journal of Islamic Social Finance Management Vol 4, No 1 (2023): JANUARI-JUNI 2023
Publisher : Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Negeri Padangsidimpuan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24952/jisfim.v4i1.8233

Abstrak Pendistribusian zakat infak dan sedekah yang ada di BAZNAS Tapanuli Selatan belum menyentuh seluruh masyarakat miskin karena dana yang terbatas. Penelitian ini merupakan penelitian kualitatif. Analisis data yang digunakan adalah reduksi data dan penyajian data. Hasil penelitian menjaelaskan bahwa mekanisme pendistribusian zakat infak dan sedekah ada 4 kategori yaitu pada bidang ekonomi merupakan penyaluran dalam bentuk konsumtif dimana amil zakat BAZNAS Daerah Kabupaten Tapanuli Selatan memberikan dana tersebut setiap 4 kali dalam setahun pada bulan safari Muharram, safari Rabiul awal, safari Ramadhan, safari Maulid. Pada bidang pendidikan, jika seorang anak mempunyai potensi dan terkendala pada dana maka BAZNAS Kabupaten Tapanuli memberikan bantuan berupa dana zakat. Pada bidang kesehatan, bantuan untuk pada fakir miskin yang terkena penyakit yang terkendala pada biaya seperti penyakit tumor, kanker serta bantuan untuk sunatan masal yang bekerjasama dengan dinas kesehatan. Pada bidang sosial, BAZNAS Daerah Kabupaten Tapanuli Selatan memiliki program pendistribusian seperti pembangunan madrasah yang terbengkalai dan pembangunan mesjid terkendala biaya, dana tersebut diambil dari dana infak dan sedekah.Kata Kunci: Zakat, Infak, Sedekah AbstractThe distribution of zakat infaq and alms in BAZNAS Tapanuli Selatan has not touched all the poor due to limited funds. This research is a qualitative research. Data analysis used is data reduction and data presentation. The results of the study explain that the distribution mechanism for zakat infak and alms there are 4 categories, namely in the economic field is distribution in a consumptive form where the amil zakat BAZNAS of South Tapanuli Regency gives these funds every 4 times a year in the month of Muharram safari, Rabiul Awal safari, Ramadhan safari, Mawlid safari. In the education sector, if a child has potential and is constrained by funds, the BAZNAS of Tapanuli Regency will provide assistance in the form of zakat funds. In the health sector, assistance for the poor who are affected by diseases that are constrained by costs such as tumors, cancer and assistance for mass circumcision in collaboration with the health office. In the social sector, the Regional BAZNAS of South Tapanuli Regency has distribution programs such as the construction of abandoned madrasas and the construction of mosques that are constrained by costs, the funds are taken from infaq and alms funds.Keywords: Zakat, Infak, Alms

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