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All Journal Jurnal Ilmiah Mahasiswa FEB International Journal of Islamic Economics and Finance (IJIEF) Al-Muzara'ah Journal of Islamic Monetary Economics and Finance International Journal of Zakat (IJAZ) Al-Kharaj: Jurnal Ekonomi, Keuangan & Bisnis Syariah Budimas : Jurnal Pengabdian Masyarakat ASIAN JOURNAL OF ISLAMIC MANAGEMENT (AJIM) Ijtimā`iyya: Journal of Muslim Society Research Muslim Business and Economic Review Jurnal Pengabdian Masyarakat Indonesia Sejahtera Beujroh : Jurnal Pemberdayaan dan Pengabdian pada Masyarakat Masyarakat: Jurnal Pengabdian As-Syirkah: Islamic Economic & Financial Journal
Majid, Rifaldi
Islamic Economics Department, Faculty Of Economics And Business, University Of Airlangga, Indonesia
Religion Agriculture, Biological Sciences & Forestry Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Electrical & Electronics Engineering Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Public Health Social Sciences Other

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Journal : Al-Muzara'ah

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Islamic FinTech and MSMEs: The Role of Religiosity and Product Knowledge Majid, Rifaldi
AL-MUZARA'AH Vol. 12 No. 2 (2024): AL-MUZARA'AH (December 2024)
Publisher : Department of Islamic Economics, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jam.12.2.321-335

Abstract

As the backbone of the national economy which is still struggling with the financing problem, prior studies on the intention to use Islamic FinTech for MSMEs are still rare. This study aims to examine whether both the religiosity (R) and product knowledge (PK) on Islamic FinTech products and services affect the intention to adopt it or not. A total of 100 responses were collected using an online questionnaire and then examined using structural equation modeling (SEM). The results show that subjective norm (SN), perceived usefulness (PU), as well as R, and PK significantly influence the intention to get financing and use the services offered. It is indicated that Indonesian MSMEs actors are getting aware and knowledgeable about sharia compliance of FinTech products. Likewise, the influence of social norms such as religious leaders and or the business environment also strengthens the intention. This means that there is a need for continuous efforts from the stakeholders by cooperating with sharia scholars in improving the Islamic financial literacy in order to eliminate the doubts on the practical side. This needs to be followed by strengthening consumer data protection as well as providing incentives in order to enlarge the industrial market share.
Designing the Business Scheme Model of Direct Investment of Indonesian Hajj Funds to The Saudi Food Industry Majid, Rifaldi
AL-MUZARA'AH Vol. 13 No. 1 (2025): AL-MUZARA'AH (June 2025)
Publisher : Department of Islamic Economics, IPB University

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.29244/jam.13.1.141-154

Abstract

Diversification of investment in hajj funds is also needed in the real sector to optimize the portfolio and sustainable development of hajj finance. This study analyzes the potential for direct investment in the supply of raw materials to meet the needs of catering and processed food by the Indonesian Hajj Fund Management Agency in Saudi Arabia’s food industry. This research utilized a qualitative approach and used data and regulations from authorities and regulators in Indonesia and Saudi Arabia. All available data is used to design direct investment models using contracts complying with ethical and fair investment principles. The results depicted two alternative investment schemes: executing a joint venture or establishing a subsidiary. Murabaha and parallel salam can carry out the business contract schemes. Using the murabaha scheme, the risk of fluctuations in exchange rates and commodities can be controlled by setting the margins. Meanwhile, salam contracts are explicitly made for orders obtained from local suppliers to avoid the risk of exchange rate fluctuations. This research is limited to the condition of hajj financial management in Indonesia and Saudi Arabia. However, this research is expected to improve the literature on the management of hajj finance and provide an alternative way for innovative and sustainable direct investment performed by the Indonesian Hajj Financial Management Agency.
Co-Authors Anwaril Muttaqin, Aris Aris Anwaril Muttaqin Hastarini Dwi Atmanti Hastarini Dwi Atmanti Himmawan, M. Fikri Husnul Mirzal Majid, Haidar Mawaddah, Herti Mukti Rinusara, Novita Muttaqin, Aris Anwaril Novita Mukti Rinusara Rinusara, Novita Mukti Sri Yayu Ninglasari Sulaeman Sulaeman Sunarmo Sunarmo Sunarmo, Sunarmo Tika Widiastuti Tri Wahyu Rejekiningsih Tri Wahyu Rejekiningsih Ulya, Badriyatul Wahyu Rejekiningsih, Tri