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MONEY IN ISLAM: ECONOMIC AND SOCIAL Ihsan, Akmal; Shadriyah, Shadriyah; Andiansyah, Farma
Jurnal Ilmiah Al-Tsarwah Vol 6, No 1 (2023)
Publisher : Institut Agama Islam Negeri (IAIN) Bone

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30863/al-tsarwah.v6i1.5169

Abstract

Money has a crucial role in human economic and social life. Based on Islam, money is not only a medium of exchange or a unit of account but also has high ethical and moral values. Money is considered as a deposit from Allah SWT and humans have the responsibility to use money wisely and responsibly. The purpose of this research is to reveal the Islamic view of money in an economic and social approach. The methodology used is qualitative with a type of literature approach. The results of this study reveal that Islam emphasizes that the use of money as a means of transaction in the financial system must be based on sharia principles which consist of three levels, namely dharruriyat, hajiyat, and tahsiniat. Of these three levels, it can include the principles of justice, equality, and balance in economic activity. In addition, money also has an important role in human social life. In Islam, money can be used to help others through zakat, infaq, and alms. This shows that money is not only used for personal gain but also for social and humanitarian interests. In order to optimize the role of money in economic and social life, Islam emphasizes the importance of ethics and morals in the use of money. Humans are responsible for using money wisely, and responsibly, and paying attention to social and human interests. In this way, money can become a tool that brings blessings to people and society. 
Macroeconomics, human development and political stability: evidence from OIC countries Dzihny, Izzatu; Wibowo, Muhammad Ghafur; Ihsan, Akmal
Jurnal Ekonomi & Studi Pembangunan Vol 24, No 2: October 2023
Publisher : Universitas Muhammadiyah Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.18196/jesp.v24i2.19509

Abstract

This study aims to examine and analyze the effect of macroeconomic variables on the Human Development Index (HDI) in the Organisation of Islamic Cooperation (OIC) countries with political stability as the moderating variable. The GMM (Generalized Method Moment) dynamic panel and the MRA (Moderated Regression Analysis) will be used for determining the type of moderation needed as analysis techniques. In the first section, the findings state that inflation and unemployment have no effect on HDI, This is due to the fact that inflation and unemployment are very dependent on global economic fluctuation. Meanwhile, trade openness has a significant positive effect on HDI and foreign direct investment has a significant negative effect on HDI. This can add to the evidence that a high level of trade openness can support HDI values in OIC countries. Trade Openness can strengthen the economy, education, and health simultaneously by increasing prosperity through increased demand, supply, and services in numerous sectors. Secondly, the value of the moderator variable (political stability) on the relationship between unemployment and HDI demonstrates that political stability acts as a "Quasi Moderator" which means that political instability can exacerbate the negative influence of unemployment on HDI in OIC countries. This research has implications for the importance of cooperation between OIC countries in various fields, especially in increasing trade, investment, job creation and good governance to support the expansion of human development in OIC nations and to build sustainable prosperity.
OVERVIEW OF HISTORY THOUGHTS ON THE ESTABLISHMENT OF ISLAMIC BANKS IN INDONESIA Kadir, Syahruddin; Ismail, Ismail; Nur, Abustan; Ihsan, Akmal; Rizal, Abd
Jurnal Al-Iqtishad Vol 20, No 1 (2024): Juni 2024
Publisher : Economic and Science Faculty of Islamic State University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24014/jiq.v20i1.23905

Abstract

Islamic economic thought in Indonesia is not something that suddenly appears on the surface without any basis but is present because of the presence of figures who bring the concept of thought that becomes theoretical Islamic economics. This thought must be examined and found traces of historical truth. The purpose of this research focuses on the discussion of the history of Islamic economic thought in Indonesia and the history of the institutionalization of Islamic economics and Islamic banks in Indonesia. This research method is a qualitative literature study of journal articles and relevant documents. The results of this study indicate that the history of Islamic economics in Indonesia began with the entry of Islam into Indonesia and the establishment of Islamic kingdoms in the archipelago (Indonesia). Islam had spread in Sumatra in 1200 AD (597 Hijriyah). The practice of trade tax carried out by the Islamic kingdoms of the archipelago referred to what had been practiced in the kingdoms originating from the Middle East. Then trade practices began to be written in Mirât al-Thullâb by Shaykh Abdul Ra'uf al-Sinkili which became a source of Islamic economic thought. Meanwhile, the establishment of Islamic banks was a collaboration between the Indonesian Muslim Scholars Association and MUI. The participation of Indonesian President Soeharto as the initiator of the establishment of the first Sharia bank in Indonesia, as well as the personal role of several former ministers and ministers of the Development V cabinet. With a capital of Rp.116 billion, the Islamic bank began operations on 1 May 1992.
The Impact of Omnichannel Properties on Customer Engagement and Loyalty in Banking: An SOR Perspective Andika; Nasution, Atika Aini; Luthfiana, Della Nanda; Ihsan, Akmal; Yuanidhar, Fazah
Journal of Theory and Applied Management (Jurnal Manajemen Teori dan Terapan) Vol. 17 No. 3 (2024)
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jmtt.v17i3.60265

Abstract

Objective: This study will thoroughly explore the effects of the quality of integration, perceived fluidity, and the reliability of assurances on cognitive and emotional engagement and customer loyalty within the banking sector. The investigation will be conducted in an omnichannel context using the stimulus-organism-response (SOR) framework. Design/Methods/Approach: This research utilized an online survey distributed via personal messages to collect data from bank customers who actively use omnichannel banking services. Employing a non-probabilistic purposive sampling technique, the study ensured respondents met specific criteria, resulting in 275 valid responses, which were analyzed using Smart PLS-SEM 4.0 to verify the proposed hypotheses. Findings: This study found that the quality of integration and perceived fluidity significantly affect cognitive and emotional customer engagement. Interestingly, the reliability of assurances impacts only cognitive engagement rather than emotional engagement. These two forms of engagement, cognitive and emotional, substantially enhance brand loyalty in the omnichannel banking context. Originality/Value: This study contributes significantly to the existing literature by providing a holistic perspective on customer engagement in the banking sector during the omnichannel era. Unlike previous studies, this research integrates three key dimensions within omnichannel banking: the quality of integration, perceived fluidity, and the reliability of assurances. Using the SOR framework, it explores their impact on cognitive and emotional engagement and customer loyalty. The findings not only deepen the understanding of effective service channel management to enhance customer engagement and loyalty but also offer practical guidance for the banking industry in designing more effective omnichannel strategies. Practical/Policy implications: This study's findings provide valuable insights for banks in the omnichannel banking sector. The research indicates that banks must optimize integration quality across service channels to enhance customer engagement and loyalty. Banks should adopt technologies that enable real-time data synchronization and train staff to ensure service consistency across all channels. Additionally, banks should develop effective loyalty programs to maintain cognitive and emotional customer engagement and actively collect feedback to improve customer experience continuously.
Macroeconomic Effects on Economic Growth in Muslim Countries: Political System as A Moderating Variable Arohman, Arohman; Qoyum, Abdul; Ihsan, Akmal; Andiansyah, Farma
EKONOMIKA SYARIAH : Journal of Economic Studies Vol. 7 No. 1 (2023): June 2023
Publisher : Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30983/es.v7i1.6358

Abstract

This study seeks to explore the role of the political system in supporting the influence of macro variables on economic growth in the world's Islamic countries. Data obtained from the world bank during 2010-2021. The econometric model used in the research is the Generalized Method of Moments (GMM). The main finding is that the political system has a significant negative effect on growth. This negative effect is caused by the low value of the political index determined by world governance indicators. In addition, foreign direct investment and remittances are still the main variables in supporting economic growth in the Islamic countries of the world. In contrast, interest rates show negative effects on economic growth. Further results show that an ineffective political system is unable to strengthen the relationship between foreign direct investment, remittances, and interest rates on economic growth. These findings serve as an evaluation for the 2025 OIC internal implementation action program.AbstrakStudi ini berusaha untuk mengeksplorasi peran dari sistem politik dalam mendukung pengaruh variabel makro terhadap pertumbuhan ekonomi di negara Islam dunia. Data diperoleh dari world bank selama tahun 2010-2021. Model ekonometrika yang digunakan dalam penelitian ialah generalized method of moments (GMM). Adapun temuan utamanya ialah sistem politik berpengaruh negatif signifikan terhadap pertumbuhan. Efek negatif ini disebabkan dengan rendahnya nilai indeks politik yang ditentukan oleh world governance indicators. Selain itu, investasi asing langsung dan remitansi masih menjadi variabel utama dalam mendukung pertumbuhan ekonomi di negara-negara Islam dunia. Sebaliknya, tingkat suku bunga menunjukkan efek negatif terhadap pertumbuhan ekonomi. Hasil selanjutnya ditunjukkan bahwa sistem politik yang tidak efektif tidak mampu memperkuat hubungan antara investasi asing langsung, remitansi, dan tingkat suku bunga terhadap pertumbuhan ekonomi. Temuan ini menjadi evaluasi untuk program aksi OKI 2025 yang saat ini masih berlangsung.
Strategi Alternatif Pembangunan Manusia Melalui Parawisata Halal di Indonesia Pasca Covid-19 Ihsan, Akmal; Kusuma, Alan Budi; Hatbah, Muhammad As’ad
Jurnal Magister Ekonomi Syariah Vol. 1 No. 1 Juni (2022): J-MES: Jurnal Magister Ekonomi Syariah
Publisher : Program Studi Magister Ekonomi Syariah, Fakultas Ekonomi dan Bisnis Islam, Universitas Islam Negeri Sunan Kalijaga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.14421/jmes.2022.011-01

Abstract

Halal tourism in Indonesia is the largest tourism in the world that presents a lot of natural beauty, culture, and comfortable places of worship. In the economic field, halal tourism contributes significantly to state income, which is around 10.4% and employment of around 313 million people. This proves that halal tourism in Indonesia has a positive effect on national income and increases human development. But that was all achieved before the Covid-19 outbreak hit Indonesia. During the pandemic, halal tourism objects experienced a drastic decline. Many halal tourism sub-sectors such as airlines, lodging, and places to eat are feeling the impact. For this reason, an alternative and complex strategy concept is needed to restore the existence of halal parawista in Indonesia. The right method to respond to the author's goal is a qualitative descriptive method with the help of a SWOT analysis consisting of strengths, weaknesses, opportunities, and threats. The results obtained in this article are: first, the strength of Indonesian halal tourists is quite large because it has many beautiful natural destinations, easy access to tourist attractions, the availability of many places of worship, lodging and eating places that have been tested for halalness, and the friendliness of the Indonesian population. in welcoming incoming tourists; Secondly, from the side of weakness, health protocols are considered too strict, such as mandatory vaccines, wearing masks, maintaining distance, and the like, thereby reducing tourist intentions. Another weakness is the lack of human resources in managing halal tourism, as well as the lack of government facilities in assisting small and medium enterprises in marketing their products; the third is seen from the opportunities that can be utilized by the government, namely focusing on the six basic needs of Muslim tourists, namely maintaining halal food, prayer facilities, Ramadan services, water-friendly bathrooms, no non-halal activities, and improving recreational facilities; Fourth, in terms of threats, the government needs to pay attention to competition with neighboring countries, focus on halal certification, and also the spike in Covid-19 cases. The analysis above is believed to be an alternative strategy in increasing halal tourism in Indonesia so that it makes a major contribution to the country, especially in its human development.
Islamic Wealth Management And Corporate Governance Ihsan, Akmal; Nur, Abustan; Kadir, Syahruddin
El-Qish: Journal of Islamic Economics Vol. 2 No. 2 (2022): El-Qish: Journal of Islamic Economics
Publisher : LPPM Universitas Terbuka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33830/elqish.v2i2.4158.2022

Abstract

This paper aims to explore Islamic views on wealth (asset) management and look at good corporate governance. The research method used is a descriptive qualitative method with a literature review approach with data collection techniques namely literature study. The results of the study show that basically asset management in an Islamic perspective is wealth management which is seen as a process of ownership, consumption of wealth, and acquisition in accordance with sharia principles. Islam emphasizes the acquisition and utilization of assets in a lawful and best way. Wealth should not be left idle but must be productive, both in terms of obtaining assets and how to spend them, such as zakat, infaq, and alms. Corporate Governance in Islam is a process of managing assets in institutions or companies in accordance with Islamic principles. Where in the process must apply the principles that have been determined by the Shari'a, such as siddiq, amanah, tabligh, fathanah and so forth. So with the application of these principles, it is hoped that transparency, integration and accountability will be achieved in institutions or companies.