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All Journal Jurnal Ekonomi dan Bisnis Islam Hasanuddin Economics and Business Review
Mustafida, Rifka
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Economics, Econometrics & Finance

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IMPLEMENTING ESG CONCEPT IN SHARIA STOCK SCREENING PROCESS Mustafida, Rifka; Fauziah, Najim Nur
Hasanuddin Economics and Business Review VOLUME 5 NUMBER 1, 2021
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v5i1.2549

Abstract

Islam places great importance on moral, environmental and social dimension. Sustainable development is centric to the overlapping factors both Islamic finance and Socially Responsible Investment, which are the economy, the environment and social impact. In contrary, Empirical evidence concerning ESG practice of IFIs and Sharia compliant companies is still lacking. The investment portfolio should therefore be scrutinized on the criteria of justice, social welfare and sustainability. This paper aims to identify sustainability report of Sharia Stocks companies and propose i-ESG index for sharia stocks screening in Indonesia. A qualitative study is used to describe sustainability action doing by Sharia compliant companies listed on Indeks Saham Syariah Indonesia (ISSI) in October 2019. This study found that, almost all the companies shows their Good Corporate Governance, but only a few of company have their sustainability report. Therefore a novel parameter to screen the sharia stocks screening process is urgently needed.  
The Development of Islamic Crowdfunding in Indonesia and Its Impact towards SMEs Mustafida, Rifka; Fauziah, Najim Nur; Kurnia, Zahra Nabila
Hasanuddin Economics and Business Review VOLUME 4 NUMBER 3, 2021
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v4i3.2547

Abstract

Small and Medium Enterprises (SMEs) is taking role as the backbone for sustained economic growth, particularly in developing countries. However, SMEs might not easily get the financing from the banking institution due to the lack of financial history and collateral. Islamic crowdfunding has become a solution to deliver accessible financial services to the unbanked SMEs in the countries, especially in Indonesia. Islamic crowdfunding impacts the SMEs in regard to the ease of obtaining capital access, improving the welfare of SMEs, and creating growth for the national economy in the long-term. By using literature review, this study aims to show how the Islamic crowdfunding develops and how it affects the SMEs in Indonesia. The result shows that Islamic crowdfunding potentially benefits the SMEs in capital access, improving the welfare and economic growth.  
THE IMPLEMENTATION OF MAQASHID SHARIAH IN ZAKAT INSTITUTION: COMPARISON BETWEEN INDONESIA AND MALAYSIA Mustafida, Rifka; Kurnia, Zahra Nabila; Fauziah, Najim Nur; Subri, Nur Shazni Binti; Faiz, Farihah Amirah Binti Ahmad
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 6 No. 2 (2020): JULY-DECEMBER 2020
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v6i2.23532

Abstract

Zakat has been widely described as a tool of income distribution. Not with standing of the potential of zakat in Indonesia and Malaysia, however, there are some issues in zakat institutions. This study aims to analyze institutional program of collecting zakat in reaching Maqashid Sharia and also to identify the issues over the program conducted by the Selangor and DKI Zakat institutions. This study conducted a case study approach which involved two Zakat institutions in two different countries; Lembaga Zakat Selangor in Malaysia and Badan Amil Zakat Infaq and Sadaqah in Indonesia. Zakat Institution should be the leading institution in economic empowerment of society by using Maqashid Sharia as benchmark indicator to design zakat distribution program. This study found that LZS has fulfilled all aspects of maqashid ShariaSharia in zakat distribution program while BAZIS DKI meet three aspects of maqashid Sharia namely hifdzu ad-din, hifdzu an-nafs and hifdzu an-nasl. It is acknowledged that the zakat institutions have made many improvements, there are still few issues that need to be highlighted to meet the needs of the society. The following recommendations are given to empower and enhance the role of zakat particularly in accomplishing the objectives of the Sharia.
The Development of Islamic Crowdfunding in Indonesia and Its Impact towards SMEs Mustafida, Rifka; Fauziah, Najim Nur; Kurnia, Zahra Nabila
Hasanuddin Economics and Business Review VOLUME 4 NUMBER 3, 2021
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v4i3.2547

Abstract

Small and Medium Enterprises (SMEs) is taking role as the backbone for sustained economic growth, particularly in developing countries. However, SMEs might not easily get the financing from the banking institution due to the lack of financial history and collateral. Islamic crowdfunding has become a solution to deliver accessible financial services to the unbanked SMEs in the countries, especially in Indonesia. Islamic crowdfunding impacts the SMEs in regard to the ease of obtaining capital access, improving the welfare of SMEs, and creating growth for the national economy in the long-term. By using literature review, this study aims to show how the Islamic crowdfunding develops and how it affects the SMEs in Indonesia. The result shows that Islamic crowdfunding potentially benefits the SMEs in capital access, improving the welfare and economic growth.  
IMPLEMENTING ESG CONCEPT IN SHARIA STOCK SCREENING PROCESS Mustafida, Rifka; Fauziah, Najim Nur
Hasanuddin Economics and Business Review VOLUME 5 NUMBER 1, 2021
Publisher : Faculty of Economics and Business, Hasanuddin University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26487/hebr.v5i1.2549

Abstract

Islam places great importance on moral, environmental and social dimension. Sustainable development is centric to the overlapping factors both Islamic finance and Socially Responsible Investment, which are the economy, the environment and social impact. In contrary, Empirical evidence concerning ESG practice of IFIs and Sharia compliant companies is still lacking. The investment portfolio should therefore be scrutinized on the criteria of justice, social welfare and sustainability. This paper aims to identify sustainability report of Sharia Stocks companies and propose i-ESG index for sharia stocks screening in Indonesia. A qualitative study is used to describe sustainability action doing by Sharia compliant companies listed on Indeks Saham Syariah Indonesia (ISSI) in October 2019. This study found that, almost all the companies shows their Good Corporate Governance, but only a few of company have their sustainability report. Therefore a novel parameter to screen the sharia stocks screening process is urgently needed.  
Co-Authors Faiz, Farihah Amirah Binti Ahmad Fauziah, Najim Nur Kurnia, Zahra Nabila Subri, Nur Shazni Binti