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All Journal Jurnal Ekonomi dan Bisnis Islam al-Uqud : Journal of Islamic Economics Share: Jurnal Ekonomi dan Keuangan Islam
Al Mustofa, Muhammad Ubaidillah
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Religion Economics, Econometrics & Finance

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Does Zakat and Non-Zakat Empowerment Affect Mustahiq Welfare Based on Maqashid Shariah? Widiastuti, Tika; Auwalin, Ilmiawan; Rani, Lina Nugraha; Mawardi, Imron; Al Mustofa, Muhammad Ubaidillah; Rosyidah, Norma; Mahmudah, Siti Nur
al-Uqud : Journal of Islamic Economics Vol 5, No 1 (2021): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (499.588 KB) | DOI: 10.26740/al-uqud.v5n1.p76-96

Abstract

This study explores the effect of zakat and non-zakat empowerment programs on the beneficiaries' welfare (mustahiq). This study focuses on the influence of the intervening variable, namely the mustahiq businesses' growth on mustahiq welfare. This study also examines the role of demographic characteristics, such as age, gender, and years of education on mustahiq business growth. This study employs the Partial Least Square-Structural Equation Model (PLS-SEM) using data from 100 respondents who received empowerment assistance from three different zakat institutions. The sample of mustahiq was selected from three zakat institutions to provide a diversity of respondents. The results indicate that zakat and non-zakat programs' empowerment through business growth has significantly affected mustahiq welfare. With these results, both zakat and non-zakat productive programs should be more developed to assist the community businesses' growth optimally. Previous studies measure the welfare of mustahiq with material aspects. In this study, the indicator of welfare is based on maqashid sharia, which includes the protection of Ad-Din (religion), An-Nafs (Soul), Al-Aql (intellect), Al-Nasl (descendant), and Al-Maal (wealth). Examining the impact of two variables, namely productive empowerment programs through zakat and non-zakat, on mustahiq business growth and welfare is the novelty of this study.
Do Indonesian Islamic Microfinance Institutions Need Lender of the Last Resort? Mawardi, Imron; Widiastuti, Tika; Al Mustofa, Muhammad Ubaidillah; Prasetyo, Ari
al-Uqud : Journal of Islamic Economics Vol 4, No 2 (2020): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (288.251 KB) | DOI: 10.26740/al-uqud.v4n2.p235-249

Abstract

Liquidity risk is one of significant risk managed by financial intermediaries including Islamic Microfinance Institutions (IMFIs). The financial intermediaries accept short-term deposits and disburse these deposits in the form of long-term loans. This situation makes IMFI desperately need a lender of last resort (LOLR). Nevertheless, there has been no formal LOLR for Indonesian IMFIs. This study intends to construct the LOLR model for IMFI in Indonesia. This qualitative study applies a case study analysis. This study's subjects are IMFIs in East Java Province that was selected purposively with thirty managers as the key informants. Research findings show that the best model of LOLR is developing a secondary cooperative since the majority form of IMFIs in Indonesia are cooperative entities. With all members of a secondary cooperative deposit for reserve requirements, they can place excess liquidity in the secondary cooperative and ask for financial support.
RAISING COMMUNITY AWARENESS OF HALAL PRODUCT CONSUMPTION AND HALAL LIFESTYLE: A TRIPLE HELIX MODEL Mardhiyah, Dien; Mawardi, Imron; Widiastuti, Tika; Al Mustofa, Muhammad Ubaidillah; Abdullah, Syahidah; Sinulingga, Rizky Amalia; Saptowati, Errin Dwi
Jurnal Ekonomi dan Bisnis Islam | Journal of Islamic Economics and Business Vol. 9 No. 2 (2023): JULY - DECEMBER 2023
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v9i2.48403

Abstract

This study formulates a triple helix model for increasing community awareness of halal product consumption and lifestyle. It is essential to increase halal awareness not only as a form of religious obedience but also to provide consumers protection, improve product quality, encourage product innovation, and fulfil international standards. This qualitative study constructs a Triple Helix model using a descriptive analysis technique and the Inputs, Activities, Outputs, Outcomes, and Impact (IAOOI) Approach. The findings indicate that the government is crucial in answering the research question. The government is expected to provide optimal support for creating such an environment through laws, regulations, infrastructure development, and other methods. Academicians are responsible for conducting scientific research in the halal industry and social programs and disseminating their findings to the general public. Practitioners in the halal industry can participate in community-based events to increase public awareness of halal products and lifestyles. This research contributes to developing relevant policies for related stakeholders to increase community awareness of halal product consumption and lifestyle.
Nexus between Sharia Governance and Financial Performance: Evidence from Indonesian Islamic Banking Hijriah, Hanifiyah Yuliatul; Kholidah, Himmatul; Alkausar, Bani; Laila, Nisful; Al Mustofa, Muhammad Ubaidillah
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.v13i1.20233

Abstract

ABSTRACT – This study critically evaluates the effectiveness of Islamic governance on the financial performance of Islamic banks in Indonesia. Due to the absence of regulations defining optimal Sharia Supervisory Board (SSB) structure and qualifications, the research explores the empirical relationship between SSB characteristics and financial performance. Using a quantitative approach, the study analyzes data from 14 Islamic banks over a seven-year period (2014-2020). Multiple regression analysis reveals that SSB size, educational background, and financial/accounting expertise have minimal impact on financial performance. Interestingly, cross-membership on SSBs is found to have a negative effect. These findings, coupled with the observation of SSBs often lacking banking and finance backgrounds, suggest a potential disconnect between Sharia governance and managerial activities. The study advocates for clear and comprehensive regulations to strengthen SSB composition and competence, ultimately promoting the sustainable development of Islamic banking in Indonesia.========================================================================================================ABSTRAK – Hubungan Antara Tata Kelola Syariah dan Kinerja Keuangan: Bukti dari Perbankan Syariah Indonesia. Studi ini secara kritis mengevaluasi efektivitas tata kelola Syariah terhadap kinerja keuangan perbankan syariah di Indonesia. Mengingat belum adanya peraturan yang mengatur struktur minimum dan kualifikasi optimal Dewan Pengawas Syariah (DPS), penelitian ini bermaksud mengkaji secara empiris empiris hubungan antara karakteristik DPS dan kinerja keuangan. Dengan menggunakan pendekatan kuantitatif, penelitian ini menganalisis data dari 14 bank Islam selama tujuh tahun (2014-2020). Hasil analisis regresi berganda menunjukkan bahwa ukuran DPS, latar belakang pendidikan, dan keahlian keuangan dan akuntansi kurang memiliki dampak terhadap kinerja keuangan perbankan syariah. Menariknya, cross-membership pada DPS ditemukan memiliki efek negatif. Temuan ini, ditambah dengan pengamatan terhadap DPS yang seringkali tidak memiliki latar belakang perbankan dan keuangan, menunjukkan potensi keterputusan antara tata kelola Syariah dan aktivitas manajerial. Studi ini merekomendasikan adanya peraturan yang jelas dan komprehensif untuk memperkuat komposisi dan kompetensi DPS, yang pada akhirnya mendorong pengembangan bank syariah yang berkelanjutan di Indonesia.
HALAL VALUE CHAIN: A BIBLIOMETRIC ANALYSIS A. Noer, Faza Muhlizoh; Al Mustofa, Muhammad Ubaidillah; Noer, Lissa Rosdiana; Aqilah, Nafla
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.61557

Abstract

Introduction: Despite growing interest in halal research, there is a lack of complete understanding regarding the strategic contribution of the halal value chain to business performance and operations. Issues such as fragmented regulations and limited standardization beyond the food sector exacerbate this. This study aims to systematically analyze the evolution of halal value chain topics within academic discourse, identifying trends, evaluating the impact of research, recognizing key contributors, and suggesting directions for future research. Methods: This study adopts a bibliometric analysis methodology. The study analyzed 233 Scopus and 116 Web of Science-indexed research publications. The export data is then processed and analyzed using R-studio software to determine the bibliometric map of the halal value chain. Results: The findings demonstrate a significant increase in halal value chain research since 2011, with a primary concentration in Southeast Asia and a focus on micro, small, and medium-sized enterprises (MSMEs) and the halal food industry. Researchers have identified the gaps in non-food halal sectors, including cosmetics, pharmaceuticals, finance, and tourism. The analysis also highlights three strategic clusters—governance and certification, technological and operational integration, and market-oriented strategies—each contributing to economic, operational, and ethical outcomes. Conclusion and Suggestion: This study reveals that adopting a value chain perspective in halal supply chain management necessitates a comprehensive and integrated strategy. Future research should focus on empirical studies, sectoral diversification, and innovation in digital halal assurance to enhance the sustainability of the global halal ecosystem.
Co-Authors A. Noer, Faza Muhlizoh Abdullah, Syahidah Aqilah, Nafla Ari Prasetyo Bani Alkausar, Bani Dien Mardhiyah Hanifiyah Yuliatul Hijriah, Hanifiyah Yuliatul Ilmiawan Auwalin Imron Mawardi Kholidah, Himmatul Mahmudah, Siti Nur Nisful Laila Noer, Lissa Rosdiana Norma Rosyidah, Norma Rani, Lina Nugraha Saptowati, Errin Dwi Sinulingga, Rizky Amalia Tika Widiastuti