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All Journal El Dinar I-ECONOMICS: A Research Journal on Islamic Economics Dinar: Jurnal Ekonomi dan Keuangan Islam Jurnal Ilmiah Ekonomi Islam SABDAMAS Review of Islamic Economics and Finance Community Development Journal: Jurnal Pengabdian Masyarakat Abdi Kami : Jurnal Pengabdian Kepada Masyarakat Management of Zakat and Waqf Journal (MAZAWA)) Jurnal Ilmu Ekonomi dan Bisnis Islam Journal of Social Commerce Jurnal Pustaka Dianmas Veteran Economics, Management & Accounting Review Al-Intaj : Jurnal Ekonomi dan Perbankan Syariah
Faizi, Faizi
Unknown Affiliation
Religion Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Health Professions Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Library & Information Science Public Health Social Sciences Other

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Utilization of Zakat Funds in Improving Human Development: A Study on Scholarship Recipients of DKI Jakarta National Amil Zakat Agency Nur Athifah Lubis, Aisyah; Faizi, Faizi
Management of Zakat and Waqf Journal (MAZAWA) Vol. 5 No. 2 (2024): Management of Zakat and Waqf Journal (MAZAWA)
Publisher : Universitas Islam Negeri Sunan Ampel Sunan Ampel

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/mzw.2024.5.2.122-143

Abstract

this study aims to evaluate the effectiveness of zakat funds in improving human development through the Future of Jakarta Scholarship (FJS) programme, which addresses important issues such as the sub-optimal allocation of zakat in education, high dropout rate, and inadequate level of human development. Using descriptive qualitative research method, this study collected primary data through interviews. Interview subjects include zakat recipients, programme administrators, education experts and community leaders, to provide a comprehensive understanding of the impact of the programme. The FJS theoretical framework combines zakat and Islamic finance theories, highlighting the role of zakat in socio-economic development and poverty alleviation, alongside human development theory to assess its impact on life expectancy, years of schooling, and purchasing power. The findings show that the FJS programme effectively meets criteria such as accuracy, awareness, purpose, and monitoring in distributing zakat funds. This positive impact is seen from the increase in life expectancy, increase in years of schooling, and increase in purchasing power among the beneficiaries.
Determinants of Purchase Decision on Halal Product: The Mediating Effect of Halal Certification Zikry Ramadhan; Faizi, Faizi
Jurnal Ilmu Ekonomi dan Bisnis Islam Vol 5 No 2 (2023)
Publisher : Program Studi Ekonomi Syariah, FEBI UIN Datokarama Palu

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24239/jiebi.v5i2.180.187-214

Abstract

Many food and beverage products circulating among Muslim communities do not meet the standards for halal products, one of which is the display of halal certification labels. Halal certification is a major factor in a Muslim's purchase decision as part of observing Islamic law in terms of food and beverages. This study aimed to analyze the extent to which religiosity, viral marketing, and price affect the purchase decision of halal products for the Muslim community through halal certification as a mediation variable. The research model was quantitative and involved 174 respondents with non-probability sampling and purposive sampling sampling techniques. This study used primary data collected through questionnaires in Google Forms distributed through social media. The analysis technique utilized the Smart PLS software. The main findings confirm that religiosity and viral marketing have a significant influence on the decision to purchase halal products directly. In contrast, prices do not have a significant effect on the decision to purchase halal products directly. Meanwhile, the halal certification testing is mediation, and it is not able to mediate the relationship between religiosity, viral marketing, and price variables towards the purchase decision of halal products indirectly. A limitation of this study is the lack of references to halal certification as a mediating variable. The variables used are still limited to three independent variables, and the respondents obtained are still dominated by students and Generation Z. For further research, it is recommended to use independent variables other than those used in this study and embrace respondents from the general public.
Does the Jakarta Islamic Index Reflect Efficient Market? Insights from Calendar Effects and Volatility Modelling Widodo, Purwanto; Faizi, Faizi; Kusuma, Airlangga Surya
Journal of Social Commerce Vol. 5 No. 3 (2025): Journal of Social Commerce
Publisher : Celebes Scholar pg

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.56209/jommerce.v5i3.184

Abstract

This study examines the efficiency of the Jakarta Islamic Index (JII) by testing for anomalies such as the Day of the Week Effect, Monday Effect, Friday Effect, and Week-Four Effect, both under normal conditions and during the Covid-19 crisis. This study seeks to determine whether JII adheres to the Efficient Market Hypothesis (EMH) or exhibits predictable patterns in stock returns. The study utilizes daily return data from JII, covering periods before (January 2008–February 2020), during (March 2020–December 2022), and combined before and during the Covid-19 crisis. Stationarity tests (Augmented Dickey-Fuller and Philips–Perron) were conducted, followed by ARMA/ARIMA modelling to address autocorrelation and heteroscedasticity. ARCH-GARCH models, including EGARCH, TARCH, and PARCH, were employed to analyze the volatility and leverage effects. Dummy variables for trading days and weeks are used to test for anomalies.  The results confirm the presence of the day of the week, Monday, and Week four effects in JII returns, indicating market inefficiency. However, the Covid-19 crisis did not significantly alter return patterns, suggesting resilience in the Islamic stock market. The study also identifies asymmetric volatility responses, with EGARCH (1,1) being the most suitable model, following a non-normal distribution (GED). These findings align with some prior research but contrast with others, highlighting mixed evidence on market anomalies in Islamic indices.
The Effectiveness Of Sharia Micro-Enterprise Capital Financing On The Development Of Msmes In Indonesia Faizi, Faizi; Sulthan Suci Yudhistira, Sulthan Suci Yudhistira
Jurnal Ilmiah Ekonomi Islam Vol. 9 No. 3 (2023): JIEI : Vol.9, No.3, 2023
Publisher : ITB AAS INDONESIA Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29040/jiei.v9i3.9698

Abstract

The existence of micro, small, and medium-sized enterprises (MSMEs) is an important factor in society’s progress. It also plays an important role in Indonesia’s economic recovery process. MSMEs play an important role in the Indonesian economy because of the large number of industries in each economic sector. The purpose of this study is to analyze and determine the effectiveness of business capital financing on MSMEs development in BMT Bina Ummat Sejahtera (BUS) Pondok Gede. Testing the effectiveness of Islamic financial institution financing is important for measuring the extent to which disbursed financing is effective. The research method used was descriptive qualitative, using a case study approach. Data collection techniques included observation, interviews, and documentation to managers and members/customers BMT Bina Ummat Sejahtera (BUS) Pondok Gede. The results of this study show that the business capital financing scheme was implemented by Fatwa DSN-MUI No.07/DSN-MUI/IV/2000 on Mudharabah financing. The effectiveness of business capital financing distribution is measured using five main indicators: accuracy of targets, achievement of goals, program socialization, program monitoring, and financing procedures that have been running effectively and have a positive impact on the development of MSMEs assisted by BMT Bina Ummat Sejahtera (BUS) Pondok Gede.
SOSIALISASI DAN EDUKASI FINTECH PEMBIAYAAN SYARIAH BAGI PENGURUS MASJID KEMENTERIAN/LEMBAGA DAN BUMN Faizi, Faizi; Kusumastuti, Retno Dyah; Kusuma, Airlangga Surya; Widodo, Purwanto; Levianto, Jubei
Community Development Journal : Jurnal Pengabdian Masyarakat Vol. 5 No. 5 (2024): Vol. 5 No. 5 Tahun 2024
Publisher : Universitas Pahlawan Tuanku Tambusai

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31004/cdj.v5i5.35123

Abstract

Indonesia yang mayoritas penduduknya beragama Islam memiliki potensi yang besar menjadi pusat pengembangan keuangan syariah, termasuk fintech pembiayaan syariah. Namun perkembangan fintech pembiayaan syariah sendiri masih relatif kecil. Salah satu permasalahan yang menghambat perkembangan fintech pembiayaan syariah adalah rendahnya tingkat literasi fintech syariah masyarakat. Selain itu masyarakat juga masih menganggap fintech pembiayaan syariah sama dengan pinjol ilegal yang memiliki reputasi buruk. Oleh karena itu, perlu dilakukan sosialisasi untuk meningkatkan pemahaman fintech pembiayaan syariah di masyarakat. Agar lebih efektif, sosialisasi tersebut sebaiknya ditujukan ke pihak-pihak yang memiliki pengaruh di masyarakat, seperti pengurus masjid. Diharapkan dengan sosialisasi tersebut, pemahaman pengurus masjid terkait fintech pembiayaan syariah dapat meningkat, dan pengurus masjid dapat meneruskan pengetahuan mengenai fintech pembiayaan syariah ke masyarakat luas. Untuk melaksanakan sosialisasi tersebut, tim pengabdian UPN Veteran Jakarta selanjutnya bekerjasama dengan Forum Silaturrahim Takmir Masjid Kementerian/Lembaga dan BUMN untuk mengadakan sosialisasi fintech pembiayaan syariah bagi pengurus masjid. Metode kegiatan pengabdian ini menggunakan metode ceramah sebagai metode untuk sosialisasi fintech pembiayaan syariah, yang selanjutnya dilanjutkan dengan sesi tanya jawab. Kedepannya diharapkan pengurus masjid dapat meneruskan pengetahuan mengenai fintech pembiayaaan syariah ke masyarakat luas, sehingga pemahaman fintech pembiayaan syariah di masyarakat juga meningkat.
Co-Authors Anggoro, Muhammar Dinda Fahlepi Anggoro Bin Shuib, Mohd Sollehudin Cheeryl Angelica Dewi Amalia Putri Dyah Kusumastuti, Retno Fadhli Suko Wiryanto Fathoni, Muhammad Anwar Kusuma, Airlangga Surya Levianto, Jubei Nur Athifah Lubis, Aisyah Nurjihan, Nabilah Purwanto Widodo Putri, Indira Fadhilla Retno Dyah Kusumastuti, Retno Dyah Sulthan Suci Yudhistira, Sulthan Suci Yudhistira Suprima Surya Kusuma, Airlangga Suryani Suryani Zikry Ramadhan