Claim Missing Document
Check
Articles

ANALYSIS OF ECONOMIC CONJUNCTURE ON THE COLLECTION AND DISTRIBUTION OF ZAKAT, INFAQ, AND SADAQAH (ZIS) AND PROVINCIAL ECONOMIC GROWTH IN INDONESIA Ramadhanty, Rifka Putri; Ryandono, Muhamad Nafik Hadi
Jurnal Ekonomi dan Bisnis Airlangga Vol. 35 No. 1 (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.V35I12025.83-104

Abstract

Introduction: This study analyzes the influence of macroeconomic factors—specifically inflation and unemployment—on the collection and distribution of zakat, as well as their impact on provincial economic growth in Indonesia. Methods: Data were collected from 33 provinces over the period 2012–2023. The study utilizes the path analysis model to process the collected data, employing SmartPLS 4.0 software for analytical procedures. Results: The study finds that inflation and unemployment negatively affect zakat collection and economic growth. Conversely, zakat collection has a positive influence on its distribution, which ultimately supports economic growth. Conclusion and suggestion: These findings underscore the potential of zakat as a macroeconomic instrument for sustainable development. The results provide important implications for zakat management and Islamic economic policy in Indonesia.
Halal Meat Consumption in East Java: The Role of Employement, Manufacturing, and MSME Income Marwini, Marwini; Ryandono, Muhamad Nafik Hadi; Wardhana, Akhmad Kusuma; Ali, Mohammad Mahbubi; Dja’akum, Cita Sary
Economica: Jurnal Ekonomi Islam Vol. 16 No. 1 (2025)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2025.16.1.25768

Abstract

The substantial Muslim population in East Java generates significant demand for halal meat products. Manufacturers and Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in shaping the region’s total halal meat production. This study investigates the influence of the number of workers, manufacturing operating income, and seasonal income of halal meat MSMEs on halal meat consumption in East Java province, Indonesia. Secondary data were collected from seven cities across the province over the period 2003–2022, using a purposive sampling technique. The data were analyzed using a static panel regression model via EViews version 12. The findings reveal that only the variable representing total manufacturing income in the halal meat sector has a statistically significant partial effect on overall halal meat consumption in the selected cities. This suggests that manufacturing enterprises possess distinct advantages over MSMEs in contributing to consumption levels. Conversely, the number of workers in the halal meat sector does not exhibit a significant influence on total meat consumption.
FINANCIAL INCLUSION THROUGH ZAKAT INSTITUTION: CASE STUDY IN INDONESIA AND BRUNEI DARUSSALAM candra yudha, ana tony roby; Ida Wijayanti; Muhamad Nafik Hadi Ryandono; Dk Hjh Saerah Pg Hj Petra
International Journal of Islamic Business and Economics (IJIBEC) Vol 5 No 2 (2021): Volume 5 Nomor 2 Tahun 2021
Publisher : Universitas Islam Negeri K.H. Abdurrahman Wahid Pekalongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.28918/ijibec.v5i2.3354

Abstract

This research aims to reveal the financial inclusion occurs in zakat institutions within zakat distribution and empowerment program in Indonesia and Brunei Darussalam. This study will deliver zakat distribution and empowerment program held by zakat institutions in two countries and then analyze how are financial inclusion process happened to mustahiq in both institutions. The object of this research are the government zakat institution in two countries, namely Indonesia (BAZNAS) and Brunei Darussalam (BAKAZ). This study uses a qualitative method within multiple case strategy. Data collection in this study was carried out through in-depth interviews with several expert informants of BAZNAS and BAKAZ and also mustahiq of each institutions. This study shows that there are mustahiq financial inclusion process on empowerment program held by BAZNAS and BAKAZ by distribution of zakat for consumption and production needs. Financial inclusion happened in zakat institution are transferring zakat fund, financing mustahiq business within capital loan, and channeling to financial institutions, so that mustahiq can transform gradually to be bankable and have financial access to scale up their business.
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.
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
Co-Authors & Ari Prasetio A Syifaul Qulub Abdul Aziz, Azreen Hamiza Abdus Sami Achmad Fadlil Abidillah Achsania Hendratmi Aditya Kusuma Ahmad Ajib Ridlwan AHMAD ARSYAD Ahmad Fadlur Rahman Bayuny Ahmad Kamil Ainaul Mardliyyah Akhmad Firdaus Rostyanta Akmalur Rijal Ali, Mohammad Mahbubi Alvin Sugeng Prasetyo Ana Toni Roby Candra Yudha Ana Toni 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 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 Dyah Palupi Dwi Cahyani Eko Fajar Cahyono, David Kaluge Elicha Pusparini Elsha Sophia Erika Takidah Evan Yoga Adhi Sakti Fahmi Abdullah Faid Arinal Firdaus Fathimatuz Zahroh Febrita Kusumastiti Filianti, Dian Firmansyah Putra Gandhi Satrya Kumajaya Hanesti, Elsi Mersilia Hanif Ardiansyah Henry Reza Novianto Heppy Prasetyo Pradhana Holyness Nurdin Singadimedja Ida Wijayanti Ida Wijayanti Ida Wijayanti Ida Wijayanti Imron Mawardi Inayatul Fitria Saputri Insani, Taqiyah Dinda Irham Zaki Jazilinni’am, Naili 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 Razan Mahrani Muhammad Afthon Ashar Muhammad Akbar Rafdison Muhammad Ala’uddin Muhammad Choirul Ichwan Muhammad Fitrahuddin Ajmal Nazir Munifatussaidah, Asma Mursyidi, Ach Fatayillah Mustofa, Muhammad Ubaidillah Al Nida Laili Fitriyah Ninda Ardiani 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 Rahmawati, Estina 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 Rusgianto, Sulistya Rusmita, Sylva Alif Salsabiilatul Ayniah K. S. Samsul Arifin Sesha Ayu Permatasari Shabrina Anwari Shafira Sa’adah Syauqiyah Shinta Sunja Prastika Siti Mujibatun Siti Nur Indah Rofiqoh Siti Zulaikha Sri Herianingrum Sri Herianingrum Susanto, Arva Athallah Taqiyah Dinda Insani Taqiyah Dinda Insani Tika Widiastuti Tika Widiastuti Tjiptohadi Sawarjuwono Wahyudi, Rofiul Wardhana, Akhmad Kusuma Widita Kurniasari WIDITA KURNIASARI, WIDITA Widyadhana, Rafi Wijayanti, Ida Wisudanto Wisudanto Yan Putra Timur Zahara, Jihan Nabila Zakik, - Ziauddin Sardar Zulfa Mufidah