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All Journal Islamic Ecomonics Journal Jurnal Ekonomi Syariah Teori dan Terapan Jurnal Ekonomi dan Bisnis Islam Al-Mustashfa Journal of Islamic Economic Laws AMALIAH: JURNAL PENGABDIAN KEPADA MASYARAKAT Journal of Islamic Economics and Philanthropy El-kahfi : Journal of Islamic economics AL-FALAH : Journal of Islamic Economics An Nuqud: Journal of Islamic Economics Proceedings of Femfest International Conference on Economics, Management, and Business Proceedings of Femfest International Conference on Economics, Management, and Business Journal of Islamic Economic Laws
Fajri, Mohammad Zen Nasrudin
Universitas Darussalam Gontor
Religion Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Law, Crime, Criminology & Criminal Justice Social Sciences

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The Effect Covid-19 and Sectoral Financing on Islamic Bank Profitability in Indonesia Mohammad Zen Nasrudin Fajri; Adamu Abubakar Muhammad; Khoirul Umam; Lila Prisilia Putri; Mohammad Ali Ramadhan
Journal of Islamic Economic Laws Vol 5, No 1: January 2022
Publisher : Muhammadiyah University Press

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.23917/jisel.v5i1.17181

Abstract

COVID-19 pandemic has created a new economic crisis worldwide. Islamic Bank which was reportedly resilient against the financial crisis is expected to be stable in this period. Apart from that, Islamic Bank has channeled financing fund to various business sectors with different portions leading to a question whether they have different impact on Bank. This paper aims to discover the impact of COVID-19 pandemic and financing to business sectors on Islamic Bank profitability. An ARDL approach is employed for analysis. The result of the study shows that COVID-19 pandemic has a negative relationship with Islamic Bank profitability in the long-run. Furthermore, financing to transportation, warehousing and communication sectors is associated with higher profitability in the short-run. On the other hand, financing to wholesale and retail trade sectors hurt Islamic Bank profitability. Based on this result, it is suggested that Government impose some measures in stabilizing Islamic Bank’s performance during COVID-19 pandemic. In addition, Islamic Banks are expected to make adjustment on financing to business sectors ratio accordingly in order to maintain the profitability of Islamic Bank.
The Impact of MSMEs Financing in Islamic Bank on Unemployment in Indonesia Mohammad Zen Nasrudin Fajri; Azidni Rofiqo; Abdul Latif Rizqon; Raditya Hasan
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 10 No. 5 (2023): September-2023
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol10iss20235pp443-454

Abstract

ABSTRACT One of the contributions of the Islamic banking sector to Indonesia's economy is channeling funds to MSMEs in the form of financing since a number of them could not access financial services. Interestingly, the MSMEs grew as the Islamic Banking sector rose. However, no single study analyzes such an impact on unemployment in both rural and urban areas. This paper aimed to reveal the effect of MSMEs financing in Islamic banks on unemployment in Indonesia. It further aimed to discover such an effect on unemployment in Indonesia's urban and rural areas separately. Dynamic panel GMM two-step analysis is used in this research to estimate cross-province data in Indonesia between 2010 and 2019. The results of the study reveal that MSMEs financing in Islamic Banks contributed significantly to the reduction of unemployment in Indonesia as a whole. It is also found that the unemployment in urban areas is reduced by MSMEs financing in Islamic Banks. On the other hand, there is no significant relationship between MSMEs financing in Islamic Banks and unemployment in rural areas. These findings can be the basis for Islamic banks to increase MSMEs financing and for the government to expand Islamic banks' role in every part of Indonesia to reduce unemployment, especially in rural areas. Keywords: MSMEs Financing, Islamic Bank, Unemployment, Urban, Rural.   ABSTRAK Salah satu kontribusi sektor perbankan syariah dalam perekonomian Indonesia adalah penyaluran dana kepada UMKM dalam bentuk pembiayaan, karena beberapa dari mereka tidak dapat mengakses layanan keuangan. Menariknya, UMKM tumbuh seiring dengan bangkitnya sektor Perbankan Syariah. Namun, tidak ada satu studi pun yang menganalisis dampak tersebut terhadap pengangguran di pedesaan dan perkotaan. Penelitian ini bertujuan untuk mengungkap pengaruh pembiayaan UMKM di bank syariah terhadap pengangguran di Indonesia. Hal ini bertujuan untuk mengetahui lebih jauh pengaruh tersebut terhadap pengangguran di daerah perkotaan dan pedesaan secara terpisah di Indonesia. Analisis dua langkah GMM panel dinamis digunakan untuk mengestimasi data lintas provinsi di Indonesia antara tahun 2010 dan 2019. Hasilnya mengungkapkan bahwa pembiayaan UMKM di Bank Syariah berkontribusi signifikan terhadap pengurangan pengangguran di Indonesia secara keseluruhan. Ditemukan juga bahwa pengangguran di perkotaan berkurang dengan pembiayaan UMKM di Bank Syariah. Di sisi lain, tidak ada hubungan yang signifikan antara pembiayaan UMKM di bank syariah dengan pengangguran di pedesaan. Hasil penelitian ini dapat menjadi dasar bagi bank-bank syariah dalam meningkatkan porsi pembiayaan UMKM dan dasar bagi pemerintah untuk memperluas peran perbankan syariah di seluruh bagian Indonesia untuk mengurangi pengangguran, khususnya di area pedesaan. Kata Kunci: Pembiayaan UMKM, Bank Syariah, Pengangguran, Perkotaan, Pedesaan.    
THE INFLUENCE OF TRANSPARENCY, ACCOUNTABILITY, AND MANAGEMENT QUALITY ON INCREASING MUZAKI’S INTEREST Alfi Wahdatul Ilmi; Abdul Latif Rizqon; Mohammad Zen Nasrudin Fajri; Rusyda Afifah Ahmad
AN NUQUD Vol 2 No 2 (2023): AN NUQUD
Publisher : LEMBAGA PENELITIAN DAN PENGABDIAN PADA MASYARAKAT

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.51192/annuqud.v2i2.588

Abstract

The implementation of zakat in Indonesian society seems that there is still a gap between hope and reality, the majority of Indonesian Muslims have great zakat potential, but in reality, zakat funds are collected nationally through the National Amil Zakat Agency (BAZNAS) are far from what is expected. The Amil Zakat Nasional Agency (BAZNAS) has future challenges in the management of zakat to improve coordination between the Amil Zakat Agency and zakat institutions in Indonesia. This research aims to find out the Influence of Transparency, Accountability, and Quality of Zakat Management on muzaki interest in the BAZNAS Tasikmalaya Regency. This study uses a quantitative methodology, while the data source in this study is primary data by using questionnaires as a data collection tool. The population in this study is the entire muzaki in BAZNAS Tasikmalaya Regency with a total of 5803 muzaki. The samples in this study used Maximum Likelihood. The sample was taken as many as 140 Muzaki in BAZNAS Tasikmalaya Regency. The sample selection method used is a nonprobability method that is random sampling which is a randomly selected sampling technique from muzaki that has been tapped. Data is processed using SEM analysis with Smart-PLS 3.0 applications. The results of this study are the variables of transparency, accountability and management quality at BAZNAS Tasikmalaya Regency simultaneously affect the increase in interest in muzakki. However, partially accountability has a positive and significant effect on increasing interest in muzakki, and transparency has a positive and significant effect on increasing interest in muzakki, while management quality has a significant negative effect, this is proven to have a significant but negative effect on increasing interest in muzakki. In this study, transparency is a connecting variable between the accountability variable and management quality on the interest of muzaki, so that all variables are said to have a positive and significant influence through the transparency variable
The Impact of Islamic Monetary Instruments on the MSMEs Financing in Indonesia Mohammad Zen Nasrudin Fajri; Nahdiyah Istiqomah
Proceedings of Femfest International Conference on Economics, Management, and Business Vol. 1 (2023): Proceedings of Femfest International Conference on Economics, Management, and Busines
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar

Abstract

As a monetary authority, Bank Indonesia prioritizes open market operations as one of its policies in influencing financial stability. In open market operations, business actors use SBI and PUAB short-term financial instruments in conventional banking and SBIS and PUAS in Islamic banking. Both of these instruments have a role in transmitting monetary policy to the real sector. Monetary transmission can occur through credit lines and MSME financing. This study aims to analyze the effect of sharia monetary instruments on channeling funds to the MSME sector. The data used in this study comes from Bank Indonesia and OJK for the period January 2012 to December 2021. Data analysis uses the VAR/VECM model, the Impulse Response Function (IRF) technique and the Forecast Error Variance Decomposition (FEVD). The results of the analysis show that the SBIS and PLS variables have a significant effect on MSMEs financing. Meanwhile, the PUAS variable has no significant effect on MSMEs financing channel. Based on the FEVD results, the variables of sharia instruments contributed to the MSME variable by 45.67%, while for the MSME financing variable, the financing distribution itself was 54.33%.
The Nexus between Financial Development and Carbon Emission in OIC Countries Mohammad Zen Nasrudin Fajri; Ikhsanul Amal; Abdul Fareed Delawari; Ahmad Suminto
Islamic Economics Journal Vol. 10 No. 1 (2024)
Publisher : University of Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/iej.v10i1.12201

Abstract

Economic activities are important factors for the development of countries. However, many countries give too much importance to the economy without paying attention to the country's environment as a result of ongoing economic activities, such as industrial, electricity production, transportation, and commercial and residential which can cause environmental degradation with the spread of CO2 carbon dioxide emissions. The growth of a financial sector that supports those economic activities is considered the driver of carbon emissions at the macro level. However, Islam teaches Muslims to avoid corruption on earth including those leading to the rise in carbon emissions. This makes Muslim-majority countries have better concern in dealing with carbon emissions.  This study aims to analyze the influences of financial institution index (FII) and financial market index (FII) on carbon dioxide emissions in the Organization of Islamic Cooperation member nations. Using the GMM estimator for a panel dataset of 36 countries between 2000 and 2021, this study unravels that the FII significantly increased carbon emissions in OIC countries. In reverse, FMI contributed to the reduction of carbon emissions in OIC countries. This paper recommends the government set regulations for banking sectors to improve eco-friendly credits for the private sector. It is also recommended that the government enrich the issuance of green securities and strengthen the financial market because it is effective in minimizing carbon emissions.
Paradigma Perdagangan Dalam Islam (Telaah Taradhin Dalam Akad Jual-Beli) arizqiya nurfattah; Nurus Shefrilianti Hidayatullah; Mufti Afif; Mohammad Zen Nasrudin Fajri
El-Kahfi | Jurnal Ekonomi Islam Vol 5 No 01 (2024): economics and islamics economics
Publisher : Sekolah Tinggi Ekonomi Syariah Manna Wa Salwa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58958/elkahfi.v5i01.215

Abstract

This study discusses trading from the Qur'an perspective, which focuses on tharadin related to buying and selling carried out online. Trading must be initiated by Allah to obtain profits and blessings. Thus, by shunning all its prohibitions we have become obedient and obedient servants of all its commandments and prohibitions. The purpose of this study is to provide an understanding of the concept of trading, namely ar-rida ruknu li al-akad. The research method used is a qualitative method, with a descriptive approach through library research. Tharadin in the contract of buying and selling is one of the pillars that must be fulfilled. At-tharadin is the main pillar of the validity of a sale and purchase because compulsion in transactions will cancel the sale and purchase contract and the law is invalid.
Islamic Banking Development and Its Influence on Unemployment in Indonesia Fajri, Mohammad Zen Nasrudin
AL-FALAH : Journal of Islamic Economics Vol 8, No 2 (2023)
Publisher : Institut Agama Islam Negeri (IAIN) Curup

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29240/alfalah.v8i2.6827

Abstract

Purpose: This paper aims to discover how the Islamic Bank’s development affects unemployment in Indonesia. It also tries to reveal to what extent the Islamic Bank’s development affects unemployment in Indonesia.Design/Method/Approach: This study is a quantitative research that uses the Generalized Method of Moments (GMM) in analyzing the provincial data spanning from 2010 to 2021in Indonesia.Findings: The findings of this research show that Islamic Bank’s asset has a positive relationship with unemployment in Indonesia, whereby a 1 percent increase in Islamic Bank’s asset will increase unemployment by 0.21%. Likewise, a 1 percent increase in the Third-party Fund of Islamic Bank in Indonesia contributed to a rise in unemployment by 0.09 %. On the contrary, total financing channeled by the Islamic Bank in Indonesia reduced unemployment by 0.13 %. It can be seen from the result that the impact of Islamic Bank development in Indonesia can be seen from the total funds channeled to the business. The more the funds are channeled to the business, the more it can reduce unemployment in Indonesia.Originality/Values: This study is the first to analyze how Islamic Bank would influence unemployment using third-party funds, total assets and total financing.
The influence of islamic bank and zakat on unemployment in urban and rural areas of Indonesia Fajri, Mohammad Zen Nasrudin; Suminto, Ahmad; Rizqon, Abdul Latif
Al-Mustashfa: Jurnal Penelitian Hukum Ekonomi Syariah Vol 9, No 1 (2024)
Publisher : IAIN Syekh Nurjati Cirebon

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24235/jm.v9i1.17108

Abstract

Unemployment in Indonesia has shown a downward trend in the last decade which is associated with the positive growth of Islamic banks and zakat in Indonesia. This research aims to reveal the impact of Islamic bank performance on unemployment in Indonesia at a national level, in urban and rural areas. It also aims to find out the impact of zakat performance on those groups of unemployment. ARDL method is used to analyze data between 2007 and 2022. The results of the findings show that the zakat collection positively affects national unemployment, urban unemployment, and rural unemployment in Indonesia in the long run. However, in the short run, it only increases urban unemployment. Meanwhile, Islamic bank financing significantly reduces national unemployment and urban unemployment in the short run but it has no impact on rural unemployment. In the long run, Islamic bank financing does not affect all kinds of unemployment.Keywords: Islamic bank, zakat, unemployment, urban, rural. 
PENINGKATAN PRODUKTIVITAS UMKM BRANGKAL KETELA “BERKAH ALAMI” DESA PRAYUNGAN, PONOROGO BERBASIS FAKTOR PRODUKSI Nasrudin Fajri, Mohammad Zen; Suminto, Ahmad
Amaliah: Jurnal Pengabdian Kepada Masyarakat Vol 8 No 2 (2024): Amaliah Jurnal: Pengabdian kepada Masyarakat
Publisher : LPPI UMN AL WASHLIYAH

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32696/ajpkm.v8i2.3787

Abstract

Terdapat sejumlah 39.650 unit usaha mikro kecil dan menengah (UMKM) yang tersebar di seluruh wilayah Ponorogo. Jumlah tersebut selalu mengalami peningkatan tiap tahunnya sehingga mampu mendorong ekonomi di Ponorogo tumbuh sampai 5,5% pada 2022. Dengan demikian, penting adanya program-program peningkatan kualitas UMKM baik oleh pemerintah maupun pihka-pihak yang lain. Diantara UMKM di Ponorogo yang perlu ditingkatkan adalah usaha brangkal ketela “Berkah Alami” yang dimiliki oleh keluarga Ibu Umi Hasanah di Desa Prayungan, Kecamatan Sawoo, Ponorogo. Berdasarkan faktor-faktor produksi, kendala yang dihadapi oleh mitra ini diantaranya adalah (1) faktor modal, keterbatasan modal berupa peralatan yang dimliki oleh mitra dan (2) faktor bahan baku, keterbatasan bahan baku ketela karena faktor cuaca, (3) faktor tenaga kerja berupa keterbatasan jumlah tenaga kerja. Berdasarkan hal tersebut, kegiatan ini bertujuan untuk meningkatkan produktivitas mitra melalui faktor produksi. Untuk mencapai tujuan tersebut, mitra diberikan pelatihan pemasaran digital, tambahan alat produksi dan penyuluhan tentang peningkatan produktivitas berbasis faktor produksi. Target dan dari kegiatan ini telah tercapai yaitu peningkatan produktivitas melalui efisiensi waktu produksi dimana mitra dapat meningkatkan produktivitasnya dari mampu menghasilkan 25 kg brangkal dalam waktu 3 hari menjadi 25kg-30kg dalam waktu 2 hari saja.
Zakat and Waqf Model in Reducing Poverty among Vulnerable Groups During the Pandemic in Nigeria Muhammad, Adamu Abubakar; Fajri, Mohammad Zen Nasrudin; Idriss, Ibrahim Dahiru; Wani, Athar Shahbaz
Journal of Islamic Economics and Philanthropy Vol. 7 No. 1 (2024): August
Publisher : Universitas Darussalam Gontor

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21111/jiep.v7i1.12182

Abstract

The crisis of COVID-19 pandemic has already crushed and affected almost everyone in the world. In terms of economy, the vulnerable group was the most affected group in the society as many of them lose their jobs and thus poverty rate rose. Poverty is a worldwide spread problem that results pains and loss of confidence to many people in the world where vulnerable citizens of Bauchi state-Nigeria are not excluded. The menace of poverty during COVID-19 pandemic can be alleviated through proper Zakat and Waqf administrations. This study explores the possible uses of Zakat and Waqf as financing tools for poverty alleviation during COVID-19 pandemic on the vulnerable in the society. The qualitative approach is adopted which includes review of related literatures and interview with relevant bodies and individuals. The findings of the study reveals that Zakat and Waqf as an Islamic finance models have relevant potential to fight any contemporary crisis and pandemic in respect of geographical location, era, people or religion. Zakat and Waqf if properly organized, maintained, collected, well managed and truthfully distributed to the people concerned can help in fighting the adverse effect of COVID-19 pandemic and alleviate poverty among the vulnerable in Bauchi state Nigeria.
Co-Authors Abdul Fareed Delawari Abdul Latif Adamu Abubakar Muhammad Ahmad Suminto Alfi Wahdatul Ilmi arizqiya nurfattah Fajlurrahman, Muhammad Afif Haidar Idriss, Ibrahim Dahiru Ikhsanul Amal Julian, Antoni Khoirul Umam Lila Prisilia Putri Mohammad Ali Ramadhan Mufti Afif Muhammad, Adamu Abu Bakar Muhammad, Adamu Abubakar Nahdiyah Istiqomah Nurus Shefrilianti Hidayatullah Putri, Lila Prisilia Raditya Hasan Ramadhan, Mohammad Ali Rizqon, Abdul Latif Rofiqo, Azidni Rusyda Afifah Ahmad salma, anisah salma ramadhani Sholihah, Fefi Diniyati Suminto, Ahmad Suminto, Ahmad Wani, Athar Shahbaz