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Unlocking Amil performance: Leadership, knowledge management capability, and organizational culture Asya’bani, Nispia; Rusgianto, Sulistya; Ratnasari, Ririn Tri; Ryandono, Muhammad Nafik Hadi; Susanto, Arva Athallah
Asian Journal of Islamic Management (AJIM) VOLUME 7 ISSUE 1, 2025
Publisher : Faculty of Business & Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/AJIM.vol7.iss1.art8

Abstract

Purpose – This study examines the impact of Islamic leadership style and Knowledge Management Capability (KMC) on improving amil performance in Indonesia, with organizational culture serving as a mediating variable. In addition, this study identified potential future research directions in this field.Methodology – This research employs a quantitative approach utilizing Structural Equation Model (SEM) analysis with Smart-PLS 4 software. The sample was selected through purposive sampling, targeting 130 amils in Indonesia. Findings – The findings reveal that both Islamic leadership and Knowledge Management Capability (KMC) have a significant positive influence on amil performance, both directly and through the mediating role of organizational culture. Furthermore, Islamic leadership directly enhances knowledge-management capabilities. Implications – This study provides valuable insights into the application of knowledge management practices and the role of Islamic leadership in enhancing the performance of amil zakat (zakat institutions). This study's implications highlight the need for greater focus on improving amil performance to maximize the efficiency of zakat collection and management.Originality – To the best of our knowledge, this analysis represents actionable recommendations for improving the efficiency of zakat collection and distribution through enhanced amil performance with the combination of KMC and organizational culture, which has rarely been studied in zakat institutions.
Islamic Bank Financing, Green Sukuk, and the Jakarta Islamic Index: An ARDL Analysis of Indonesia’s Real Sector Hidayat, Rahmad; Jazilinni’am, Naili; Rusgianto, Sulistya; Ratnasari, Ririn Tri; Ryandono, Muhammad Nafik Hadi
Jurnal REKSA: Rekayasa Keuangan, Syariah dan Audit Vol. 12 No. 2 (2025)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/jreksa.v12i2.13994

Abstract

This study examines the effects of Islamic Bank Financing (IBF), Green Sukuk (GS), the Jakarta Islamic Index (JII), inflation (CPI), exchange rate fluctuations (EXR), and money supply (M2) on Indonesia’s real sector using the Autoregressive Distributed Lag (ARDL) approach. The findings reveal that IBF stimulates the real sector in the short run, but structural challenges and limited market penetration constrain its long-term influence. Conversely, GS exerts a significant positive impact over the long term, underscoring the importance of sustainable investments in enhancing productive capacity and generating employment. Although JII shows no significant short-term effect, it contributes meaningfully in the long run. CPI consistently exerts a negative influence on the real sector in both horizons, while exchange rate appreciation and M2 growth support economic activity. These results highlight the need for coordinated policy measures to foster inclusive, stable, and sustainable development in Indonesia’s real economy.
Macroeconomic Factors and Islamic Stock Volatility: Evidence from Indonesia Widyadhana, Rafi; Ryandono, Muhammad Nafik Hadi
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 12 No. 3 (2025): Agustus-2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol12iss20253pp351-362

Abstract

This study aims to analyze the influence of macroeconomic variables, namely gold prices, exchange rates, and inflation, on the volatility of Islamic stocks in Indonesia during the period 2013-2023. The research approach uses multiple linear regression method with quarterly data to identify the relationship between these variables on the volatility of Islamic stocks represented by the Jakarta Islamic Index (JII). The results show that gold prices and exchange rates have a positive significant influence on the volatility of Islamic stocks, while inflation shows a complex relationship pattern, depending on specific market conditions. The findings provide important insights for investors and regulators on the dynamics of the Islamic stock market in Indonesia. For investors, this research can help design more effective investment strategies, while for regulators, this research provides guidance for managing the stability of the Islamic capital market. This research is expected to serve as a reference for the development of a sustainable Islamic capital market that is responsive to macroeconomic changes.
TANGGUNGJAWAB LEMBAGA EKONOMI ISLAM DALAM MENTRANSFORMASI MUSTAHIQ MENJADI MUZAKKI H.R, Muhammad Nafik
El-Qist: Journal of Islamic Economics and Business (JIEB) Vol. 2 No. 2 (2012): October
Publisher : Islamic Economics Department, Faculty of Islamic Economics and Business, Sunan Ampel State Islamic University, Surabaya Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15642/elqist.2012.2.2.257-278

Abstract

Islam tidak memisahkan antara aqidah, ibadah dan muamalah, melainkan ketiganya merupakan satu kesatuan yang harus dijalankan secara kaffah. Muamalah merupakan ajaran Islam yang mengatur kehidupan sosial manusia termasuk aturan-aturan tentang perekonomian. Ibnu Khaldum dalam Chapra (2001:127) mengekspresikan hubungan fungsional dari otoritas pemerintah (G) adalah fungsi dari syariah (S), sumber daya insani (N), keadilan (j), pertumbuhan (g), dan kekayaan atau harta (W) atau G = f (S,N,W, g dan j). Hubungan fungsional variabel-variabel tersebut dapat digambarkan seperti Gambar 2.1. Model pada Gambar 2.1, tersebut menghubungkan semua variabel politik dan sosio ekonomi yang penting, yaitu Syariah (S), otoritas pemerintah atau wazi (G), manusia atau rijal (N), harta benda atau maal (W), pembangunan atau imarah (g) dan keadilan atau al-adl (j). Model hubungan antara variabel-variabel tersebut dikenal dengan Daur Keadilan (Circle of Equity).
Cash Waqf Optimization as a Means of Social Financing for State Infrastructure Development Widiastuti, Tika; Ryandono, Muhamad Nafik Hadi; Mawardi, Imron; Wisudanto, Wisudanto; Mustofa, Muhammad Ubaidillah Al
Journal of Infrastructure Policy and Management (JIPM) Vol. 3 No. 1 (2020): Journal of Infrastructure Policy and Management (JIPM)
Publisher : PT Penjaminan Infrastruktur Indonesia (Persero)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.35166/jipm.v3i1.23

Abstract

This study examines the potential for cash waqf as a source of social financing for infrastructure development. This research then builds the best model to optimize cash waqf using Sharia financial technology. This research will discuss some of the problems that hamper the development of cash waqf in Indonesia as well as providing some solutions to further enhance its development.
The Role of University Resource Support and Entrepreneurial Characteristics On Halal Startup Businesses Hendratmi, Achsania; Sukmaningrum, Puji; Nafik Hadi Ryandono, Muhamad
Indonesian Journal of Business and Entrepreneurship Vol. 8 No. 3 (2022): IJBE, Vol. 8 No. 3, September 2022
Publisher : School of Business, IPB University (SB-IPB)

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17358/ijbe.8.3.363

Abstract

This study aims to determine the effect of university resource support, self-efficacy, entrepreneurial motivation, and entrepreneurial competence on halal startup business performance in Indonesia. This quantitative research uses the causal method to analyze the relationship between research variables. The research data was collected in 2021 using questionnaires to 130 students who have been running their businesses for at least the last three months. Statistical analysis using SEM-PLS showed that three of the four research hypotheses were accepted. The study's results found that university resource support and self-efficacy significantly affect the performance of the halal startup business. Meanwhile, entrepreneurial motivation does not positively influence student halal startup business performance. This research is expected to provide a contribution that can be a solution, suggestion, and recommendation that can be used as a reference for university decision-makers in Indonesia. The results of this study are expected to add to the repertoire of scientific literature, especially studies on the management of new halal businesses. Keywords: business performance, entrepreneurial competence, self efficiency, startup, universities education, universities support
Penguatan Kesejahteraan Masyarakat melalui Pelatihan Ternak, Manajemen Keuangan, dan Koperasi Syariah Arifin, Samsul; Zaki, Irham; Ryandono, Muhammad Nafik Hadi; Zulaikha, Siti; Hendratmi, Achsania; Rani, Lina Nugraha; Bayuny, Ahmad Fadlur Rahman; Wijayanti, Ida
Jurnal Ilmiah Pengabdian dan Inovasi Vol. 3 No. 2 (2024): Jurnal Ilmiah Pengabdian dan Inovasi (Desember)
Publisher : Insan Kreasi Media

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.57248/jilpi.v3i2.514

Abstract

This community service program was conducted to enhance the welfare of the residents in Sumber Sawit Village, Sidorejo District, Magetan Regency, through training in livestock management, financial literacy, and the development of Islamic cooperatives. The village faced key challenges, including limited technical knowledge in livestock management, restricted access to capital, and low financial literacy. The Participatory Action Research (PAR) approach was employed to actively involve the community in problem identification, training sessions, and program evaluation. The results indicated significant improvements in the community’s capabilities, including more efficient livestock management, enhanced financial literacy, and the utilization of Islamic cooperatives as an alternative community-based financing option. This program received high appreciation from the community and village leaders for its success in creating an inclusive, equitable, and sustainable local economic ecosystem. These findings highlight the effectiveness of a holistic approach that integrates technical training, financial literacy, and cooperative development as a model for empowering communities to support sustainable local economic development.
HOW SHARIA MICROFINANCE INFLUENCES INFORMAL SECTOR ENTREPRENEURSHIP IN INDONESIA? Arsyad, Ahmad; Ramadhanty, Rifka Putri; Ryandono, Muhammad Nafik Hadi; Timur, Yan Putra
Airlangga International Journal of Islamic Economics and Finance Vol. 8 No. 02 (2025): July-December 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v8i02.78719

Abstract

This study examines the impact of Islamic microfinance on informal businesses in Indonesia, controlling for conventional bank credit, education, population density, and per capita income. Using panel data from 34 provinces (2013–2024) and a Fixed Effects regression model, the analysis shows that Islamic microfinance has a positive but insignificant effect on informal business numbers. Conventional credit also has an insignificant negative effect, while higher education significantly promotes informal entrepreneurship. Population density has a negative but insignificant impact. The findings suggest that education is the key driver of informal sector dynamics, whereas financial access—both Islamic and conventional—faces structural limitations. Strengthening human capital, expanding inclusive financing, and supporting the formalization of informal enterprises are crucial for inclusive development in line with Islamic economic principles. Keywords: Islamic Microfinance, Informal Sector, Education, Population Density
ISLAMIC SOCIAL ENTREPRENEURSHIP IN REALIZING SOCIAL INCLUSION FOR PEOPLE WITH INTELLECTUAL DISABILITIES Zahara, Jihan Nabila; Ryandono, Muhamad Nafik Hadi; Munifatussaidah, Asma
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 2 (2025): JURNAL EKONOMI DAN BISNIS AIRLANGGA
Publisher : Fakultas Ekonomi dan Bisnis, Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jeba.V35I22025.370-384

Abstract

Introduction: People with intellectual disabilities often face systemic barriers that limit their access to education, employment, and meaningful social participation. This study addresses the limited social and economic inclusion of people with intellectual disabilities, a group often marginalized and stigmatized in rural Indonesia. It examines how Islamic Social Entrepreneurship can serve as a model for empowerment to promote social inclusion in Karangpatihan Village, Ponorogo Regency. Methods: This research uses a qualitative explanatory case study; data were collected through interviews, observation, and documentation, and analyzed with pattern matching. Results: The findings reveal that Rumah Harapan Mulya’s empowerment program, through training in doormat and ciprat batik, integrates social entrepreneurship, business skills, and Islamic values “SAFTI” (Siddiq, Amanah, Fathanah, Tabligh, Istiqamah) in line with the maqasid al-Syariah (principles of Sharia). This integration enhances social recognition, participation, and economic contribution while reducing stigma against people with disabilities. Despite challenges in communication and financial management, the initiative successfully creates an inclusive and equitable environment. Conclusion and suggestion: Theoretically, this research contributes to the development of Islamic entrepreneurship studies by introducing Islamic Social Entrepreneurship as a sustainable and replicable empowerment framework. Practically, it offers insights for policymakers and social institutions on designing disability-inclusive empowerment programs.
The Impact of Digital Media Use on Muslim Entrepreneurs' Intention to Apply for Halal Certificate: Empirical Evidence from Indonesia Ridlwan, Ahmad Ajib; Timur, Yan Putra; Ryandono, Muhammad Nafik Hadi; Takidah, Erika; Abdul Aziz, Azreen Hamiza; Juniarti, Rosa Prafitri
Indonesian Journal of Halal Research Vol. 7 No. 1 (2025): February
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/ijhar.v7i1.40271

Abstract

The Indonesian government is striving to encourage Muslim entrepreneurs to obtain halal certification for all products produced, imported, and sold within Indonesia. Digital media has emerged as a viable solution to enhance the convenience and practicality of Muslim entrepreneurs in applying for halal certification. This study aims to examine factors that influence Muslim entrepreneurs' halal certification applications through digital media, using the DeLone and McLean and the Unified Theory of Acceptance and Use of Technology (UTAUT) models. This quantitative study analyses 350 Indonesian Muslim entrepreneurs using partial least square structural equation modeling (PLS-SEM). Researchers obtain data using non-probability sampling approaches. The results of the study indicate that the constructs of performance expectancy (PE), effort expectancy (EE), social influence (SI), and service quality (SEQ) have a positive and significant effect on intention (INT). In addition, the facilitating condition (FC) has a positive influence on INT but is not significant. While the constructs of system quality (SYQ) and information quality (IQ) have a positive and significant effect on user satisfaction (US), the correlation of the two constructs to INT is not significant. Therefore, it can be concluded that PE, EE, and SI are the key driving factors for Muslim entrepreneurs in using digital media to apply for halal certification. According to the results, developing user-friendly features and technology systems is highly recommended. Pre- and post-submission service quality must be improved. Therefore, halal process assistance officers (PPH) are proposed to support Indonesian Muslim entrepreneurs.
Co-Authors & Ari Prasetio A Syifaul Qulub Abdul Aziz, Azreen Hamiza Abdus Sami Ach Fatayillah Mursyidi Achmad Fadlil Abidillah Achsania Hendratmi Aditya Kusuma Ahmad Ajib Ridlwan AHMAD ARSYAD Ahmad Fadlur Rahman Bayuny Ahmad Kamil Ainaul Mardliyyah Akhmad Firdaus Rostyanta Akhmad Kusuma Wardhana Akmalur Rijal Alvin Sugeng Prasetyo Ana Toni Roby Candra Yudha ana tony roby candra yudha Anik Rufaidah Ardian Dwi Bagus S Ari Prasetyo Asya’bani, Nispia Azhar Alam Azwar Anas Bagus Mohamad Ramadhan Bashlul Hazami candra yudha, ana tony roby Cita Sary Dja’akum Cita Sary Dja’akum Citra Aisya Madania Citra Rahayu Indraswari Dewi Astuti Dian Ayu Firtanasari Dja’akum, Cita Sary Dk Hjh Saerah Pg Hj Petra Dk Hjh Saerah Pg Hj Petra Dk Hjh Saerah Pg Hj Petra Dyah Palupi Dwi Cahyani Eko Fajar Cahyono, David Kaluge Elicha Pusparini Elsha Sophia Erika Takidah Estina Rahmawati Evan Yoga Adhi Sakti Fahmi Abdullah Faid Arinal Firdaus Fathimatuz Zahroh Febrita Kusumastiti Filianti, Dian Firmansyah Putra Fitriah Dwi Susilowati Gandhi Satrya Kumajaya Hanesti, Elsi Mersilia Hanif Ardiansyah Hasyim, Fuad Henry Reza Novianto Heppy Prasetyo Pradhana Holyness Nurdin Singadimedja Ida Wijayanti Ida Wijayanti Ida Wijayanti Ida Wijayanti Ida Wijayanti Imron Mawardi Inayatul Fitria Saputri Insani, Taqiyah Dinda Irham Zaki Jazilinni’am, Naili Juliana Juliana Kasanah, Roisatun Khea Miyagi Kumara Adji Kusuma Kusumaningtyas, Menur Lutfia Inggriani Marhanum Che Mohd Salleh Marhanum Che Mohd Salleh, Marhanum Che Marwini Marwini Maryani, Anny Meidiana Rizki Adelia Mi'raj, Denizar Abdurrahman Misbahul Munir Misbahul Munir Mochammad Nuril Misbach Mochammad Nuril Misbach Mohammad Mahbubi Ali Mohammad Razan Mahrani Muhammad Afthon Ashar Muhammad Akbar Rafdison Muhammad Ala’uddin Muhammad Choirul Ichwan Muhammad Fitrahuddin Ajmal Nazir Muhammad Ubaidillah Al Mustofa Muhammad Wakhid Musthofa Munifatussaidah, Asma Mursyidi, Ach Fatayillah Mustofa, Muhammad Ubaidillah Al Nida Laili Fitriyah Ninda Ardiani Nur Huda Nur Puji Rohmawati Pantas, Pribawa E Petra, Dk Hjh Saerah Pg Hj Pribawa E Pantas Purnomo Adji Qonitah Bakhitah Qulub, A. Syifaul R. Moh. Qudsi Fauzy, R. Moh. Qudsi Raditya Sukmana Raisya Nada Salsabila Ramadhanty, Rifka Putri Rani, Lina Nugraha Rembrant Shella Gustami Rendri Pratama Wahyu Priandhika Rifki Satriyo Aji Ririn Tri Ratnasari Rofiul Wahyudi Romadzuhri Nurbanatra Rosa Prafitri Juniarti Rusmita, Sylva Alif Salsabiilatul Ayniah K. S. Samsul Arifin Sesha Ayu Permatasari Shabrina Anwari Shafinar Ismail Shafira Sa’adah Syauqiyah Shinta Sunja Prastika Siti Mujibatun Siti Nur Indah Rofiqoh Siti Zulaikha Sri Herianingrum Sri Herianingrum Sukmaningrum, Puji Sulistya Rusgianto Susanto, Arva Athallah Taqiyah Dinda Insani Taqiyah Dinda Insani Tika Widiastuti Tjiptohadi Sawarjuwono Wahyudi, Rofiul Widita Kurniasari WIDITA KURNIASARI, WIDITA Widyadhana, Rafi Wijayanti, Ida Wisudanto Wisudanto Yan Putra Timur Zahara, Jihan Nabila Zakik, - Ziauddin Sardar Zulfa Mufidah