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All Journal Jurnal Bestari Journal of Indonesian Tourism and Development Studies Jurnal Ilmiah Mahasiswa FEB Gadjah Mada International Journal of Business IQTISHADIA International Journal of Local Economic Governance Jurnal Ekonomi dan Studi Pembangunan (Journal of Economics and Development Studies) EKUITAS (Jurnal Ekonomi dan Keuangan) JATI EMAS (Jurnal Aplikasi Teknik dan Pengabdian Masyarakat) Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam
Arif Hoetoro
Faculty Of Economics And Business, Universitas Brawijaya
Agriculture, Biological Sciences & Forestry Arts Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Engineering Environmental Science Public Health Social Sciences Other

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Journal : IQTISHADIA

 1 
Obstacles and Solutions in Performing Islamic Financial Contracts Hoetoro, Arif
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.3200

Abstract

There are some obstacles faced by Islamic microfinance institutions in performing Islamic financial contracts as purely demanded by Islamic law. In case of Bayt al-Maal wa al-Tamweel (BMT), the application of Islamic financial contracts needs a special approach and innovation. By taking BMT Sidogiri of East Java as the research site, this study qualitatively evaluated the practice of murabahah, mudlarabah, and musharakah contracts conducted by such an insti-tution. In examining these obstacles, this study had conducted several in-depth interviews with the branch manajer of BMT Sidogiri of Malang City. The findings revealed that the obstacles in performing Islamic financial contracts are dominated by lack of knowledge, asymmetric information, limited cooperation among related institutions, opportunistic behavior, and lack of social capital. To overcome these obstacles, it is recommended that the practices of Islamic financial transactions were not only in line with shari’ah-compliant but also with shari’ah-based schemes.
The Relationship between Religiosity, Self-Interest, and Impulse Buying: an Islamic Perspective Hoetoro, Arif; Hannaf, Muhammad Said
IQTISHADIA Vol 12, No 1 (2019): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v12i1.4501

Abstract

The expansion of e-commerce dramatically changes the spending patterns which are found a significant number of impulse buying. Practical method and easy way to buy specific goods from e-commerce might be an important factor why customers spent their money more impulsively. Researches on this phenomenon showed that psychological values emerged from religiusity condition and self-interest encouragement play as self-regulation for controlling impulsive buying behavior. Viewed from Islamic economic perspective, this study seeks to configurate self-interest (al-nafs) into three levels namely al-nafs al-ammarah, al-nafs al-lawwamah, and al-nafs al-muthmainnah when al-nafs involved in online impulse buying. The first two layers of al-nafs refer to the level of self-interest which are material oriented, whereas the last one represents the highest level of self-interest which is spiritual oriented. By employing 134 repondents from e-commerce customers in Jakarta, the research findings revealed that there was no relationship between religiusity and al-nafs al-ammarah and al-nafs al-lawwamah. However, al-nafs al-ammarah (sig.= 0.000) and al-nafs al-lawwamah (sig.=0.040) positively influenced impulse buying. Meanwhile, there was strong relationship between religiusity and al-nafs al-muthmainnah (sig.= 0.000) in which this highest level of self-interest did not have relationship with impulse buying. These research findings have important implications that in order to regulate impulsive buying behavior, customers should control their self-interest and make it to be al-nafs al-muthmainnah.  
The Relationship between Love of Money, Islamic Religiosity and Life Satisfaction: a Muslim’s Perspective Arif - Hoetoro
IQTISHADIA Vol 13, No 1 (2020): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v13i1.7333

Abstract

This research scrutinizes the relationship between Love of Money (LOM), hedonic behavior and Islamic religiosity in pursuing life satisfaction in consumption. By utilizing accidental sampling method, the research then employed 99 customers who spent their money in one of the biggest department stores in Malang City. The calculation of data with SmartPLS-3.1.8 revealed that Islamic religiosity significantly affects live satisfaction (β = 0.290; ρ-value = 0.003). In the same time, LOM significantly influences hedonic behavior (β = 0.417; ρ-value = 0.000). However, hedonic behavior does not mediate the relationship between LOM and life satisfaction. This study accordingly concludes that Islamic religiosity plays a main role in consumption. Therefore, it is suggested that every Muslim have to instill Islamic religiosity in daily activities for obtaining life satisfaction.      
Obstacles and Solutions in Performing Islamic Financial Contracts Arif Hoetoro
IQTISHADIA Vol 11, No 1 (2018): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v11i1.3200

Abstract

There are some obstacles faced by Islamic microfinance institutions in performing Islamic financial contracts as purely demanded by Islamic law. In case of Bayt al-Maal wa al-Tamweel (BMT), the application of Islamic financial contracts needs a special approach and innovation. By taking BMT Sidogiri of East Java as the research site, this study qualitatively evaluated the practice of murabahah, mudlarabah, and musharakah contracts conducted by such an insti-tution. In examining these obstacles, this study had conducted several in-depth interviews with the branch manajer of BMT Sidogiri of Malang City. The findings revealed that the obstacles in performing Islamic financial contracts are dominated by lack of knowledge, asymmetric information, limited cooperation among related institutions, opportunistic behavior, and lack of social capital. To overcome these obstacles, it is recommended that the practices of Islamic financial transactions were not only in line with shari’ah-compliant but also with shari’ah-based schemes.
Co-Authors Adetya Nur Candra Afifah, Fajri Mas Alfi Muflikhah Lestari Azzuhri Tri Ahara, Azzuhri Tri Haikal Luthfi Fathullah, Haikal Luthfi Hannaf, Muhammad Said Hannaf, Muhammad Said Hanum, Aulia Hari Nugroho Yudianto Isa Whisnu Yudistira Kafabih, An'im M. Irfan Rosyadi Maftuch Maftuch Maskie, Gozalie Moh. Awaludin Adam Multifiah . Munawar Ismail Okky Rio Andika Putra Rachman Hakim Revo Rosheno Arbes Rozabi, Izzur Sasongko Sasongko Sugiarto S Yeni Arista