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Determinants of Investment In Islamic Crowdfunding Muhammad Nafik Hadi Ryandono; Ida Wijayanti; Kumara Adji Kusuma
Muqtasid: Jurnal Ekonomi dan Perbankan Syariah Vol 11, No 1 (2020): MUQTASID: Jurnal Ekonomi dan Perbankan Syariah
Publisher : IAIN Salatiga

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (663.585 KB) | DOI: 10.18326/muqtasid.v11i1.70-87

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Investment decisions in Islamic Crowdfunding have many determinants, including: project quality, creator abilities, social network creators, reputation and entrepreneur experiences. This study examines the influence of significant and insignificant determinants of investment in Islamic Crowdfunding. It uses a random sampling technique with Structural Equation Modeling Partial Least Square (PLS) as the analysis model. The results show that social creators and entrepreneur experiences have a significant effect on investment in Islamic Crowdfunding. Contrastingly, project quality, creator ability, and reputation have insignificant influences. Entrepreneur experiences and reputation of the platform have dominant and least influence on investment in Islamic crowdfunding, respectively. Creator’s ability has a dominant-negative effect on Islamic Crowdfunding, and therefore, it requires special attention. The sharia values contained in all investment determinants are the primary consideration by investors. Therefore, increasingly inevitable sharia compliance is a necessity from time to time.
Islamic Economic Students Knowledge and Attitude Toward Halal Pharmacy Product in East Java, Indonesia Sylva Alif Rusmita; Muhamad Nafik Hadi Ryandono; Dian Filianti; Marhanum Che Mohd Salleh
al-Uqud : Journal of Islamic Economics Vol. 5 No. 1 (2021): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (365.559 KB) | DOI: 10.26740/al-uqud.v5n1.p1-15

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A Muslim has a limitation in consuming or wearing something. A Muslim is only permitted to consume something halal, either in food, drink, clothes, even finance. In the pharmaceutical industry, the standard of Halal Pharmaceutical is the most crucial document that should be followed to standardize the quality and the safety of halal. This research will analyze the knowledge and attitude of Islamic economics students who have the basic knowledge about halal and analyze how their attitude to the halal pharmacy. The research method is qualitative, with a literature review and descriptive analysis data from the questioner. Information on the label will influence the choices before buying and or consuming the medicine on the customer site. Consumers prefer to choose medicine with a halal label so that it will also benefit industries that have halal labels. But, in halal pharmacy, customers still hard to applied halal things in medicine; even though customers understand about halal, customers' attitude does not imply the principle of halal in the medicine.
Solution for Islamic Banks Exploitation: A Criticism of Fixed-Yields Based Financing in Indonesia Muhamad Nafik Hadi Ryandono
al-Uqud : Journal of Islamic Economics Vol. 4 No. 1 (2020): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (408.597 KB) | DOI: 10.26740/al-uqud.v4n1.p48-68

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The profit-sharing system is the main characteristic of Islamic banking that distinguishes them from conventional (ribawi) banking. However, in reality, the profit-sharing contract is rarely implemented in Islamic banking. As a result, Islamic banking is still identified as ribawi banking. Many Islamic economists have examined the reasons behind fixed income contracts, especially murabahah contract that applied predominantly, structurally, systematically and massively compared to the profit-sharing contract. Therefore, with a critical analytical approach, this study aims to dismantle and look for solution towards exploitation of fixed income-based financing in Indonesian sharia banking. The results of this study are fixed income-based financing should be applied limited to covering the operational costs of Islamic banks but the remainder must be channelled based on profit-sharing systems. Meanwhile, funding for profit-sharing systems is intended to gain profits and cover the operational cost variables. Thus, predatory exploitation of Islamic banks in Indonesia can be minimized by maintaining the composition of the maximum financing about forty per cent which is a fixed-yield based and leave the rest to a profit-sharing system. Then, the more equitable Islamic bank system and Islamic economic goals will be created and offer benefits such as the achieving of the objectives of Islamic sharia (maqashid shariah) and minimizing the image of Islamic banks as ribawi bank.
Efficiency Analysis of Zakat Institutions Based on The Organizational Cluster in Indonesia: Free Disposal Hull (FDH) Approach Muhamad Nafik Hadi Ryandono; Tika Widiastuti; A. Syifaul Qulub; Eko Fajar Cahyono; Denizar Abdurrahman Mi'raj; Taqiyah Dinda Insani
al-Uqud : Journal of Islamic Economics Vol. 5 No. 2 (2021): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (403.27 KB) | DOI: 10.26740/al-uqud.v5n2.p218-233

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This study aims to analyse the level of efficiency of zakat institutions in Indonesia between 2014 and 2018. Zakat institutions are divided into three clusters based on the organisation's nomenclature: the government, public, and private groups. The division of these clusters aims to see differences in the management of zakat funds between each group. This study uses a quantitative research approach through the Free Disposal Hull (FDH) method to produce a more comprehensive average efficiency estimation than the Data Envelopment Analysis (DEA). The sampling technique is purposive, and there are fourteen research objects observed. The government cluster is the cluster with the highest efficiency value. The private set comes in second, and the public group comes in third ranking. The high score that the government cluster earns is due to their primary business purpose, which focuses on managing zakat funds. The results of this study can be used as references for the policy establishment of zakat institutions in Indonesia.
AN OVERVIEW OF ISLAMIC LAW AGAINST BUYING AND SELLING SAND-LAND WITH A LIBERATION SYSTEM Mochammad Nuril Misbach; Muhammad Nafik Hadi Ryandono; Ari Prasetyo
Airlangga International Journal of Islamic Economics and Finance Vol. 2 No. 1 (2019): JANUARY-JUNE 2019
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/aijief.v2i1.15469

Abstract

Buying and selling as a meant to get goods easily, one could exchange money with goods he needed the seller. Of course with the value agreed upon by both parties. The law of buying and selling were permissible basically, It was meaning that every Muslim in earning a living could by meant of buying and selling. The aim was to describing and analyzing the perspective of Islamic law about buying and selling Sand-Land with a systems slash of case studying Mount Wurung with the views of Islamic law. The research was used qualitative method with descriptive analysis. According to Madzhab of Imam Hanafi allowed the buying and selling which contained a little gharar because the buying and selling had been estimated based on experience that was close to truth and buying and selling including buying and selling named jizaf, whereas according to Madzhab of Imam Syafi'i was not permitted because there was potential gharar which allowed each of them had a loss or profit.
Pengembangan Model Fungsi Sosial Bisnis Islam Berdasarkan Maqashid Syariah Pada Bank Syariah X Muhammad Nafik; R. Moh Qudsi Fauzy
Telaah Bisnis Vol 16, No 1 (2015): Juli 2015
Publisher : Sekolah Tinggi Ilmu Manajemen YKPN Yogyakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (404.215 KB) | DOI: 10.35917/tb.v16i1.29

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Abstract The purpose of this study was to determine the concept of the social function of business model development Islam, especially Islamic Bank X based maqashid sharia, practice development of the social functions of Islamic business models based on the sharia maqashid Islamic Bank X, and the impact of the development of the social functions of Islamic business models based on the quality of sharia maqashid life of the community. This study uses descriptive qualitative research methodology case study method (case study). Criteria informant was branch manager, supervisor, and citizens who have been the target/target activities of social function. The sampling technique is done with purposive sampling and snowball sampling. These results indicate that the concept of the social function of business model development Islam, especially Islamic Bank X based maqashid sharia has had an important role in creating justice and prosperity based on the principles of Shari’ah maqashid especially the external community. Practice development of the social function of the business model of Islam based on sharia maqashid has had a big role in terms of fighting and reduce disorientation in religion (hifdhud-din), the maintenance of stupidity (hifdhul-’aqal), terjauhkannya of poverty (hifdhul maal), has a good offspring (hifdhun-nasl), and maintaining a healthy soul (hifhdun-nafs), and the impact of the development of the social function of the business model of Islamic sharia maqashid based not only on improving the quality of life of citizens around the location of Bank Syariah X which has a weak economy, but also an impact positively to the image of the Islamic Bank X in the minds of customers and other parts of society.
Cointegration of Stock Market and Exchange Rate in Indonesia Pribawa E Pantas; Muhamad Nafik Hadi Ryandono; Misbahul Munir; Rofiul Wahyudi
Ihtifaz: Journal of Islamic Economics, Finance, and Banking Vol. 2 No. 2 (2019)
Publisher : Universitas Ahmad Dahlan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.12928/ijiefb.v2i2.886

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This study aims to determine the long-term relationship between stock market and exchange rate in Indonesia. The research method used is Johansen cointegration test. The results of this study found no cointegration between the variables tested. Thus the exchange rate, JII, and IHSG have no relationship in the long term. The fluctuation of the rupiah exchange rate in recent years did not generally affect the performance of stock indices especially after the global financial crisis of 2008. This shows the capital market in Indonesia has a good performance so that it is not so sensitive to the sentiment of the decline in the rupiah against the US dollar. This finding is in line with the findings of Syahrer (2010) which states the exchange rate has no effect on the stock market.
An Overview of Islamic Law Against Buy and Sell Sand of Kebon with a Liberation System in Mount Wurung, Mojokerto Regency Mochammad Nuril Misbach; Ryandono Muhammad Nafik Hadi; & Ari Prasetio
Cendekia: Jurnal Pendidikan dan Pembelajaran Vol. 13 No. 1 (2019): April 2019
Publisher : Center of Language and Cultural Studies

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (265.219 KB) | DOI: 10.30957/cendekia.v13i1.55

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The research is a field research where primary data were obtained from direct interviews using descriptive analysis techniques with inductive mindset. The research focused on an overview of the practice of buying and selling sand garden using slash system. Results show that the practice of buying and selling with the blow system are found in rural areas, one of them is in the Mount Wurung Mojokerto district, i.e. buying and selling blow sand garden. The price is based on the area of land to be cleared. For example, land with an area of 1400 m2, was agreed by both parties at a price of Rp. 40 million. No provision for the period of sand mining until mining is completed, it can reach 2 to 3 years. Both landowners and buyer do not know the content of sand in the soil of the kebon, which means to buy and sell the sand there is a potential gharar (lack of clarity on both sides) that allows each of them suffered a loss or gain. It is evident that sand trading kebon with the system is not in accordance with Islamic law because the seller or buyer cannot estimate the content and quality of sand in the plot. According to Madhab Hanafi Imam the sale and purchase that contained a little gharar and jizaf, and according to Madhab the Shafi'i Imam it was not permitted because there was potential gharar which allowed each of them has a loss or profit.
Does Intellectual Capital Impact The Islamic Banks' Performance? Evidence from Indonesia Salsabiilatul Ayniah K. S.; Muhammad Nafik Hadi Ryandono
Jurnal Ekonomi Syariah Teori dan Terapan Vol. 9 No. 4 (2022): Juli-2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/vol9iss20224pp534-542

Abstract

ABSTRAK Mengetahui pengaruh 3 komponen Intellectual Capital yang terdiri dari Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), dan Structural Capital Value Added (STVA) dan mengetahui pengaruh Rate of Growth of Intellectual Capital (ROGIC)terhadap proporsi pembiayaan bagi hasil bank umum syariah di Indonesia periode 2015-2020 merupakan tujuan dari penelitian ini. Menggunakan regresi data panel serta data sekunder dengan mengumpulkan laporan tahunan bank umum syariah. Memanfaatkan Sampel 9 bank umum syariah yang terdaftar pada OJK dengan diseleksi menggunakan metode purposive sampling. Variabel Intellectual Capital diukur dengan metode Islamic Banking Value Added Intellectual Coefficient (IB-VAIC). Sedangkan untuk variabel proporsi pembiayaan bagi hasil menggunakan pengukuran profit sharing ratio. Hasil penelitian menunjukkan bahwa Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), dan Structural Capital Value Added (STVA) dan Rate of Growth of Intellectual Capital (ROGIC) berpengaruh signifikan terhadap proporsi pembiayaan bagi hasil. Secara parsial, Value Added Capital Employed (VACA) berpengaruh signifikan negatif terhadap proporsi pembiayaan bagi hasil. Value Added Human Capital (VAHU) dan Structural Capital Value Added (STVA) memiliki pengaruh signifikan dengan arah positif  pada proporsi pembiayaan bagi hasil. Rate of Growth of Intellectual Capital (ROGIC) tidak memiliki pengaruh pada proporsi pembiayaan bagi hasil. Kata Kunci: Intellectual Capital, VACA, VAHU, STVA, ROGIC, Proporsi Pembiayaan Bagi Hasil, Bank Umum Syariah.   ABSTRACT Find out the effect of 3 components of Intellectual Capital, consisting of Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), and Structural Capital Value Added (STVA), and find out the effect of the Rate of Growth of Intellectual Capital (ROGIC) on profit-loss sharing financing proportion of Islamic Banks in Indonesia from 2015-2020 is the goal of this research. Using panel data regression and secondary data by collecting the annual reports of Islamic Commercial Banks. Utilizing a sample of 9 Islamic Commercial Banks registered in OJK and selected using a purposive sampling method. The Intellectual Capital was measured by the Islamic Banking Value Added Intellectual Coefficient (IB-VAIC) method. Profit loss sharing financing proportion is measured by the profit sharing ratio. The results of this research showed that Value Added Capital Employed (VACA), Value Added Human Capital (VAHU), Structural Capital Value Added (STVA), and Rate of Growth of Intellectual Capital (ROGIC) had a significant effect on profit-sharing financing proportion. Partially, Value Added Capital Employed (VACA) has a negative significant effect on profit-loss sharing financing proportion. Value Added Human Capital (VAHU) and Structural Capital Value Added (STVA) have a positive significant effect on profit-loss sharing financing proportion. The rate of Growth of Intellectual Capital (ROGIC) does not affect the profit-sharing financing proportion. Keywords: Intellectual Capital, VACA, VAHU, STVA, ROGIC, Profit Loss Sharing Financing Proportion, Islamic Banks.   DAFTAR PUSTAKA Aryee, S., Walumbwa, F. O., Seidu, E. Y. M., & Otaye, L. E. (2016). Developing and leveraging human capital resource to promote service quality: Testing a theory of performance. 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Pengaruh intellectual capital, rate of growth of intellectual capital dan pengungkapannya terhadap kinerja keuangan perusahaan. INOBIS: Jurnal Inovasi Bisnis dan Manajemen Indonesia, 2(4), 486–504. https://doi.org/10.31842/jurnal-inobis.v2i4.107 Sary Sakinah, I., Sadalia, I., Syahputra Silalahi, A., & Author, C. (2020). The influence of intellectual capital and rate of growth of intellectual capital on financial performance in financial institution sub-sector companies on the Indonesia stock exchange. International Journal of Research and Review, 7(1), 474-479. Seleim, A., & Bontis, N. (2013). National intellectual capital and economic performance: Empirical evidence from developing countries. Knowledge and Process Management, 20(3), 131–140. https://doi.org/10.1002/kpm.1412 Setiawan, M. A. (2014). Pengaruh intellectual capital terhadap kinerja. Jurnal Riset Akuntansi dan Keuangan, 2(1), 251–260. Sirinuch Nimtrakoon. (2015). Intellectual capital, firms’ market The relationship between value and financial performance Empirical evidence from the ASEAN. Journal of Intellectual Capital, 16(3), 587–618. Soetrisno, A., & Lina. (2014). The influence of intellectual capital components towards the company. Jurnal Manajemen, 14(1), 125–140. https://doi.org/10.28932/jmm.v14i1.76 Tan, H. P., Plowman, D., & Hancock, P. (2007). Intellectual capital and financial returns of companies. Journal of Intellectual Capital, 8(1), 76–95. https://doi.org/10.1108/14691930710715079 Ting, I. W. K., & Lean, H. H. (2009). Intellectual capital performance of financial institutions in Malaysia. Journal of Intellectual Capital, 10(4), 588–599. https://doi.org/10.1108/14691930910996661 Tseng, C. Y., & Goo, Y. J. J. (2005). Intellectual capital and corporate value in an emerging economy: Empirical study of Taiwanese manufacturers. R and D Management, 35(2), 187–201. https://doi.org/10.1111/j.1467-9310.2005.00382.x Ulum, I. (2013). 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Preparing Future’s Community Empowerment: A Quantitative Study of The Correlation Between Empowerment And Human Resources In Ranu Pani And Sanan Tourism Village Menur Kusumaningtyas; Sri Herianingrum; Irham Zaki; Muhammad Nafik Hadi Ryandono
Perisai : Islamic Banking and Finance Journal Vol 6 No 2 (2022): October
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v6i2.1610

Abstract

Human resources are the main support system for managing tourist villages. The main support system should be managed well. Managing human resources can reflected by empowering them to develop new skills based on their need to elaborate on the region’s potency. The region potency consists of culture, tourism place, and heritage. The aim of the research is to know about the correlation between empowerment and human resources in Ranu Pani Tourist Village and Sanan Tourist Village. This study used quantitative research. The data was collected using questionnaire. Data analysis was performed using descriptive, quantitative data. The result of this research is that the test distribution is normal by 0.871. The data were normal with a significance level of 0.55. The distribution number was greater than or greater than the significance number. The second was about ANOVA test. Based on ANOVA, the result was F= 56.245. This mean that there was a significant correlation between empowerment and human resources. Empowerment does influence human resources and human resources may influence empowerment. Even though there is significant correlation between empowerment and human resources, empowerment is still important for people particularly around village tourists. Society will be change quickly, and they need readiness to face the fast changing. Fast changing and society reflecting where does they live. Empowerment includes developing skills, abilities, knowledge and competency that need to be advanced around tourist villages. Human resources are the success or failure of tourist.
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