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Do Poverty and Human Development Index Influence Happiness? Evidence from Indonesia through Islamic Studies Approach Dini Maulana Lestari; Aziz Muslim; Reni Furwanti; Iin Solikhin
el-Jizya: Jurnal Ekonomi Islam Vol. 10 No. 1 (2022): el-Jizya : Jurnal Ekonomi Islam
Publisher : Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Prof. K.H. Saifuddin Zuhri Purwokerto

This research aims to examine the relationship between poverty and human development index to happiness rate in Indonesia through Islamic studies approach. This is because poverty Indonesia till become a prominent economic issue but, it has a high rate of happiness compared to another developed country in ASIA at the same time. Besides, to reach such happiness, it also needs a great human development as an indicator to create welfare of such countries. This is a quantitative research with multiple regressions, using macro-economic data since 2014 & 2017 from 33 provinces of Indonesia as a sample. The result revealed that poverty and human development index have a positive significant effect on happiness. Then, this empirical finding is in line with the concept of maqāṣid al-syariah, specifically hifdz al- dīn and hifdz al-‘aql.

Bunga Bank Halal? (Tinjauan Insider/Outsider dalam Studi Islam) Reni Furwanti; Dini Maulana Lestari; Hardiyono Hardiyono
Masyrif : Jurnal Ekonomi, Bisnis dan Manajemen Vol 3, No 2 (2022): Masyrif : Jurnal Ekonomi, Bisnis dan Manajemen
Publisher : Institut Dirosat Islamiyah Al-Amien Prenduan Sumenep

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28944/masyrif.v3i2.833

Artikel ini bertujuan untuk menganalisa dan mendiskusikan terkait kedudukan dan hukum bunga bank yang masih menjadi perdebatan apakah bunga bank bisa dikatakan halal atau tidak. Hal ini dapat terjadi dikarenakan adanya perbedaan sudut pandang, metode serta landasan epistimologi seseorang dalam memahami serta menganalisa suatu fenomena tertentu sehingga mengakibatkan hasil pemahaman yang beragam. Dengan demikian, artikel ini berupaya untuk mengkaji bunga bank dalam perspektif insider (yang mempunyai pandangan tradisional) akan tetapi juga akan mengkaji dalam perspektif outsider (yang mempunyai pandangan kontemporer) dengan tujuan untuk memperoleh kesimpulan yang objektif terkait bunga bank dalam studi IslamArtikel ini dianalisa menggunakan metode library research dengan pendekatan deskriptif kualitatif dimana penulis melakukan pengumpulan data pustaka, dokumen-dokumen tertulis yang berisikan pemahaman beserta keterangan mengenai persoalan yang sesuai dengan masalah dan tujuan penelitian. Adapun hasil analisa dari artikel ini mengungkapkan bahwa bunga bank memiliki kesamaan dengan margin sehingga secara emic dan etik bunga bank dibolehkan dengan tetap memperhatikan batas yang telah ditentukan oleh regulator.

Criticism of Margin Actualization in Murābahah Financing at Sharia Banking Evidence from Indonesia Reni Furwanti; Dini Maulana Lestari; Abdul Mustaqim; Iin Solikhin
Ijtimā iyya Journal of Muslim Society Research Vol. 8 No. 1 (2023)
Publisher : Postgraduate Program, State Islamic University Prof. K.H. Saifuddin Zuhri Purwokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24090/ijtimaiyya.v8i1.6113

This study aims to analyze margin actualization of murābaha contract. It is because, although murābaha is a favorable financing contract at sharia banking, it still has problem due to the related issue. This happens due to lack of trust form such customers, who have a tendency that sharia bank is the same with conventional bank due to the issue of margin actualization. This is a qualitative descriptive reseach with library reseach approach, exploring the issue and relating to the Islamic study to get such deep analysis. The result revealed that relating to the issue it needs such a fatwa or other binding which aligned with sharia principles, and such reconstruction of the contract which appropriate with sharia principle reflected by maqāṣid al-sharia.

Assimilating Islamic Banking Customer Loyalty: A Halal Brand Personality Perspective Model Raden Roro Fosa Sarassina; Reni Furwanti; Dini Maulana Lestari
ETIKONOMI Vol 22, No 2 (2023)
Publisher : Faculty of Economic and Business

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15408/etk.v22i2.31566

As Indonesian government promotes Indonesia as the center of the Halal Industry Nation, numerous strategies are being implemented across every sector, including Islamic Financial Institution. This research focuses investigating factors that can influence customer loyalty. To bridge this gap, the study aims to create a model for increasing customer loyalty based on the Halal Brand Personality approach, by exploring competitive advantage as a mediating variable. This research is considered important due to the relatively small market share of Islamic banking in Indonesia, which faces intense competition. This is an explanatory research with a quantitative approach that employs survey method to collect 225 data points. Structural Equation Modeling (SEM) is used to analyze the direct and indirect relationship of each variable. It was found that from all the hypotheses, six were rejected, and the model was validated. The result delineated that the model proposed in this research can assist branch managers in maximizing and strengthening Islamic banking’s distinctive products and sophisticated technology, which are its primary competitive advantages when competing with other banking sectors.JEL Classification: M20, M21, M31How to Cite:Sarassina, R. R. F., Furwanti, R., & Lestari, D. M., (2023). Assimilating Islamic Banking Customer Loyalty: A Halal Brand Perspective Model. Etikonomi, 22(2), 247 – 262. https://doi.org/10.15408/etk.v22i2.31566.

Criticism of Sharia Supervisory Board Position at Islamic Financial Institution: Evidence from Indonesia Hardiyono Hardiyono; Dini Maulana Lestari; Reni Furwanti; Ifah Finatri Latiep
IQTISHODUNA IQTISHODUNA (VOL.19, No.2, 2023)
Publisher : Fakultas Ekonomi, UIN Maliki Malang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18860/iq.v19i2.20753

This research aims to analyze and critic the role of Sharia Supervisory Board (SSB) at Islamic Financial Institution. This considered iportant because SSB is a core organization of Islamic Financial Institutions (IFIs) to legitimate and maintan all IFIs’ operational activities that have to appropriate through sharia compliance. Nevertheless, the position of SSB in Indonesia is lack of power and independecy while doing its duties, which absolutely this issue does not accordance through fatwa of National Sharia Council regarding to SSB’s position and funcition. This research criticize the position and function of SSB on sharia audit for IFIs. This is a qualitative research with library method approach. Furthermore, this research delineates, that there is such a decentralization position and function of SSB due to lack of power and decentral position of SSB when carry out its duties regarding to supervising IFIs whether are appropriate through sharia compliance or not. Thus, it requires such a training in order to boost independency of SSB when supervise IFIs.

Redefining CRM for the Digital Age: The Role of Customer Data Protection from an Islamic Perspective Furwanti, Reni; Casmini, Casmini; Wibowo, Muhammad Ghafur
Share: Jurnal Ekonomi dan Keuangan Islam Vol 13, No 1 (2024)
Publisher : Faculty of Islamic Economics and Business, Universitas Islam Negeri Ar-Raniry

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22373/share.v13i1.22521

ABSTRACT - This study refines Customer Relationship Management (CRM) as a strategic approach for the digital era. It proposes Customer Data Protection (CDP) as a crucial new dimension for a more holistic CRM framework. This revised framework addresses inconsistencies in past CRM definitions, which have contributed to implementation failures across industries. The urgency for this refinement is further emphasized by Indonesia's weak data security landscape. Employing a quantitative survey methodology, the study gathers data from 412 respondents selected through purposive sampling. Confirmatory Factor Analysis (CFA) is then utilized to analyze each CRM dimension within the collected data. The empirical findings establish five significant dimensions of CRM, forming a strategic framework referred to as the "5C CRM." This framework encompasses processes for cultivating positive stakeholder relationships, preserving company value, and ultimately enhancing customer satisfaction. From an Islamic perspective, data protection aligns with the Maqāṣid Sharia principle of hifdz al-nafs (protecting life). By securing customer data, companies safeguard customers from potential dangers associated with cybercrime and unauthorized access. This aligns with the Quranic verse An-Nur:27, which emphasizes seeking permission before entry. This verse signifies the company's responsibility to secure and protect customer data from unauthorized access. Ultimately, businesses that actively safeguard personal information are more likely to cultivate customer satisfaction and loyalty. The findings suggest that prioritizing data security not only aligns with Islamic principles but also fosters stronger customer relationships.========================================================================================================ABSTRAK - Redefinisi CRM untuk Era Digital: Peran Perlindungan Data Konsumen dalam Perspektif Islam. Penelitian ini meredefinisi konsep Customer Relationship Management (CRM) sebagai pendekatan strategis untuk era digital dengan mengusulkan dimensi baru, yaitu Perlindungan Data Konsumen (Customer Data Protection - CDP), untuk menciptakan kerangka kerja CRM yang lebih komprehensif. Penyempurnaan ini bertujuan untuk mengatasi persoalan inkonsistensi definisi CRM yang berakibat pada kurang efektifnya implementasi di berbagai sektor. Urgensi penyempurnaan ini disebabkan oleh kondisi keamanan data di Indonesia yang masih lemah sehingga sering terjadi kebocoran data. Penelitian ini menggunakan metode kuantitatif yang mengumpulkan data melalui survei kuesioner dari 412 responden yang dipilih secara purposif. Confirmatory Factor Analysis (CFA) digunakan untuk menganalisis dimensi-dimensi CRM dari data yang terkumpul. Hasil kajian menetapkan lima dimensi kunci CRM yang membentuk kerangka strategis yang disebut “5C CRM”. Kerangka ini mencakup proses yang dilakukan perusahaan untuk membina hubungan positif dengan pemangku kepentingan internal dan eksternal, menjaga nilai perusahaan, dan meningkatkan kepuasan pelanggan. Dari perspektif Islam, perlindungan data konsumen sejalan dengan prinsip Maqashid Syariah, khususnya aspek hifdz al-nafs (melindungi kehidupan). Dengan pengamanan data konsumen, perusahaan akan melindungi pelanggan dari bahaya kejahatan dunia maya dan akses yang tidak sah. Hal ini sesuai dengan ayat Al-Qur’an An-Nur:27 yang menekankan pentingnya meminta izin sebelum memasuki suatu tempat, yang menandakan tanggung jawab perusahaan untuk mengamankan dan melindungi data konsumen dari akses tidak sah. Pada akhirnya, perusahaan yang secara aktif melindungi informasi pribadi cenderung meningkatkan kepuasan dan loyalitas pelanggan. Temuan penelitian menunjukkan bahwa prioritas terhadap keamanan data tidak hanya sejalan dengan prinsip Islam tetapi juga memperkuat hubungan dengan pelanggan.

Bunga Bank Halal? (Tinjauan Insider/Outsider dalam Studi Islam) Reni Furwanti; Dini Maulana Lestari; Hardiyono Hardiyono
Masyrif : Jurnal Ekonomi, Bisnis dan Manajemen Vol 3, No 2 (2022): Masyrif : Jurnal Ekonomi, Bisnis dan Manajemen
Publisher : Institut Dirosat Islamiyah Al-Amien Prenduan Sumenep

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28944/masyrif.v3i2.833

Artikel ini bertujuan untuk menganalisa dan mendiskusikan terkait kedudukan dan hukum bunga bank yang masih menjadi perdebatan apakah bunga bank bisa dikatakan halal atau tidak. Hal ini dapat terjadi dikarenakan adanya perbedaan sudut pandang, metode serta landasan epistimologi seseorang dalam memahami serta menganalisa suatu fenomena tertentu sehingga mengakibatkan hasil pemahaman yang beragam. Dengan demikian, artikel ini berupaya untuk mengkaji bunga bank dalam perspektif insider (yang mempunyai pandangan tradisional) akan tetapi juga akan mengkaji dalam perspektif outsider (yang mempunyai pandangan kontemporer) dengan tujuan untuk memperoleh kesimpulan yang objektif terkait bunga bank dalam studi IslamArtikel ini dianalisa menggunakan metode library research dengan pendekatan deskriptif kualitatif dimana penulis melakukan pengumpulan data pustaka, dokumen-dokumen tertulis yang berisikan pemahaman beserta keterangan mengenai persoalan yang sesuai dengan masalah dan tujuan penelitian. Adapun hasil analisa dari artikel ini mengungkapkan bahwa bunga bank memiliki kesamaan dengan margin sehingga secara emic dan etik bunga bank dibolehkan dengan tetap memperhatikan batas yang telah ditentukan oleh regulator.

Is Islamic Banking Social Performance Able to Maintain Stock Price Stabilization by Exploring the Role of Profitability As An Intervening Variable? Furwanti, Reni; Adilla, Adilla; Qoyum, Abdul
Global Review of Islamic Economics and Business Vol. 12 No. 1 (2024)
Publisher : Faculty of Islamic Economics and Business, State Islamic University Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/grieb.2024.121-04

This study aims to analyze the effect of profitability as an intervening variable on the Islamic and social performance of Islamic Banking in order to maintain earnings per share. The purpose of maintaining earnings per share is to attract investors to invest in Islamic bank issuers. Therefore, this study also endeavors to forecast Islamic banking stock price volatility for companies listed on IDX and propose a framework for its mitigation. This framework considers the role of social performance in enhancing profitability, utilizing the path analysis method. This study focused on 3 Islamic banking companies (PNBS, BRIS, and BTPS) as a sample, using quarterly data specifically for the period of 2017 to 2021 with a purposive sampling method. In addition, Data sources include financial statements encompassing profit-sharing ratio, distribution of zakat, and distribution of qard al-hasan. Furthermore, this study employed an ARIMA regression model, subsequently adjusted using ARCH (Autoregressive Conditional Heteroscedasticity) and GARCH (Generalized Autoregressive Conditional Heteroscedasticity) as an analysis method for data forecasting. Based on the path diagram, it indicatedd that all hypotheses are accepted except for qard al-hasan, which has a significant and negative effect on profitability and stock prices. Therefore, based on these findings, this study contributes to expanding the scope of knowledge in the field of Sharia finance, as well as offers valuable guidance to Islamic finance industries on maximizing Islamic and social instruments to increase profitability, ultimately leading to a positive effect on stock price volatility.

DOES ISLAMIC FINANCIAL DEVELOPMENT MATTER TO IMPROVE STANDARD LIVABILITY? EVIDENCE FROM INDONESIA Furwanti, Reni; Lestari, Dini Maulana; Solikhin, Iin; Hardiyono, Hardiyono
Jurnal Ilmiah Ekonomi Bisnis Vol 29, No 3 (2024)
Publisher : Universitas Gunadarma

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35760/eb.2024.v29i3.10895

This research aims to examine and analyze the relationship between Islamic financial development and Indonesia's standard of livability from an Islamic perspective. This is considered significant because, as a developing country, it is crucial for Indonesia to sustain high economic growth along with a good standard of livability. This is a quantitative study using a panel data regression method, utilizing panel data such as Islamic financing disbursement and real expenditure per capita across 33 provinces in Indonesia from 2017 to 2022. The results revealed that Islamic financial development plays a significant role in improving the standard of livability. Moreover, these findings will help understand the role of financial inclusion in sustainable development, contributing to discussions on financial and distribution policies for lower-income groups.

Understanding Islamic Banking Usage Continuance in Indonesia: A Relevance of Religiosity Perspective Lestari, Dini Maualana; Furwanti, Reni; Masri, Syahril
Invest Journal of Sharia & Economic Law Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v5i1.10420

This study explores and analyzes religiosity as a key factor in muamalah activities to boost Islamic banking customers' intention to continue using the service. This focus arises from the intense competition in Indonesia's Islamic financial industry. Despite this competition, the Islamic banking sector still has a relatively small percentage of loyal customers, contributing to its low market share in the country. Therefore, banks must devise strategies that leverage religious factors to enhance customers' continuance intention usage (CUI). This quantitative study employed a survey method, utilizing structural equation modeling (SEM-AMOS) to meet its research objectives. The study selected Islamic banking customers as its sample and gathered 403 participants through convenience sampling. The findings indicate that this study adjusted the religiosity indicator to assess economic activity, particularly customer behavior. Additionally, the model demonstrated that religiosity can significantly enhance Islamic banking customers' CUI. This study offers policy recommendations for regulators in the Islamic banking industry, emphasizing the importance of religious factors in attracting customer continuance intention usage, as most Indonesian Muslims exhibit greater confidence in such factors.

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