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The Development of the Halal Industry in Indonesia: An Analysis of Innovation and Export Potential Rizkitama, Gebie Yoga Efrizal; Fatwa, Nur; Muttaqin, Mohammad Izdiyan
Enrichment: Journal of Multidisciplinary Research and Development Vol. 3 No. 8 (2025): Enrichment: Journal of Multidisciplinary Research and Development
Publisher : International Journal Labs

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.55324/enrichment.v3i8.526

Abstract

This systematic literature review examines the development of Indonesia's halal industry, focusing on the role of innovation and its contribution to export potential. Through a comprehensive analysis of 17 recent studies (2019-2024), the research investigates key innovations driving industry development and their impact on enhancing Indonesia's position in the global halal market. The review identifies several significant innovations, including digital traceability systems, the Penta Helix collaboration model, specialized halal industrial zones, and simplified certification processes. These innovations have demonstrated substantial contributions to export growth through improved product quality, enhanced market access, and strengthened competitive advantages. The findings reveal that successful export expansion requires a comprehensive approach to innovation encompassing technological advancements, process improvements, and strategic market development. The study highlights the importance of stakeholder collaboration, regulatory framework development, and sustainability integration in driving industry growth. While challenges remain, particularly in standardization and regulatory compliance, the research suggests that continued innovation across all aspects of the halal industry is crucial for maintaining and expanding Indonesia's export potential in the increasingly competitive global halal market. The review contributes to the understanding of how innovation drives halal industry development and provides practical implications for stakeholders seeking to enhance Indonesia's position in the global halal trade.
BEHAVIORAL INTENTION OF ISLAMIC PEER-TO-PEER LENDING SERVICES USERS Kurniaputri, Mega Rachma; Fatwa, Nur
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 8 No. 2 (2022): JULY - DECEMBER 2022
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v8i2.34212

Abstract

The fintech lending industry, as in non-bank financial institutions in Indonesia, has faced several problems, such as low financial literacy, constraints on the information system, weak scoring system, users data leakage, technology gaps with Islamic banks, and cases of default that make lenders disappointed and share it through social media. Although there are many problems, it does not reduce the intention of the lenders to lend their money through peer-to-peer lending as an alternative investment place. This research uses a quantitative descriptive method with the Partial Least Square - Structural Equation Modeling (PLS-SEM) technique. The study is conducted on 250 lenders in Indonesia who lend through Islamic peer-to-peer lending. Based on the results, lenders' intention is influenced by factors of effort expectancy, habit, and hedonic motivation. The lenders found that lending their money will improve their profit and make it easy to use. Meanwhile, facilitating conditions, habits, and behavioral intentions directly affect user behavior to continue to choose the Islamic peer-to-peer lending service that is already being used. The acceptance and use of lenders to use Islamic peer-to-peer lending are influenced by effort expectancy, habit, hedonic motivation, facilitating conditions, and behavioral intentions. This study is expected to be a recommendation for the financial technology industry to improve its services and facilities for users, particularly for lenders. In addition, this research can be an additional reference for regulators to make regulations related to Islamic financial technology, particularly for lenders in fintech lending.
Vector Autoregression Analysis of The Relationship Between Inflation Rate, Interest Rate, and Exchange Rate To The Jakarta Islamic Index Qurrota A'yun, Ajeng; Fatwa, Nur
Journal of Strategic and Global Studies Vol. 5, No. 1
Publisher : UI Scholars Hub

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Abstract

ABSTRACT The Indonesian Sharia Capital Market is an interesting thing to study because based on the 2019 Global Islamic Finance Report (GIFR) report, Indonesia is ranked first in the Global Sharia Financial Market. The Jakarta Islamic Index (JII) is the sharia stock index that was first launched on the Indonesian capital market on July 3, 2000 and only consisted of the 30 most liquid Islamic shares listed on the Indonesia Stock Exchange. This study will try to uncover how the relationship between macroeconomic variables in Indonesia by using Vector Autoregression (VAR) analysis and using monthly secondary data from 2012-2019. VAR analysis which has advantages including multivariate, free from spurious endogeneity and exogeneity variables and can detect relationships between variables in the equation system. The results of this study indicate that the JII of the previous period and the BI Rate have a positive influence on JII, while inflation and the Rupiah-US Dollar Exchange rate have a negative relationship with JII. The implication of the results of this study is to strengthen the rupiah price which greatly affects JII. Keywords: Shariah stock, JII, Macroeconomics, VAR.
Rahn as a Financing Bridge for Business Incubator Tenants: A Case Study on Graduation to Micro and KUR Financing at BSI Ciledug Kusuma, Teza; Fatwa, Nur; Huda, Nurul
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1: Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

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Abstract

Business incubator tenants often face limited access to productive financing due to the absence of formal financial records. Under such conditions, Rahn functions as an entry-level liquidity instrument that provides rapid gold-backed funding in compliance with Sharia principles. Nevertheless, the mechanism through which Rahn facilitates graduation to productive schemes such as Micro and KUR financing remains underexplored. This study aims to analyze the role of Rahn in building payment discipline and transaction history, identify key graduation gates, and design a condition-based graduation model grounded in product-contract fit and Sharia governance. A qualitative case study was conducted at BSI Ciledug using semi-structured interviews with branch officials and document analysis of official product guidelines and digital financing manuals. Data were analyzed through thematic coding and source triangulation to ensure validity and analytical rigor. The findings reveal that the graduation process from Rahn to productive financing is condition-based, determined by document completeness, post-Rahn account activity, and branch-level verification. Digital platforms accelerate verification accuracy and transparency, yet human oversight remains essential to uphold Sharia compliance and risk control. The study proposes an audit-ready graduation model that strengthens Sharia financial inclusion and supports the scalability of MSME financing pathways.