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The Impact of Zakah, Islamic Bank, Macroeconomic Variables on Unemployment Rate: Evidence From Selected OIC Countries Rusanti, Ega; Sekar Sari, Novi; Rusgianto, Sulstiya; Ahmed, Ishfaq
LAA MAISYIR: Jurnal Ekonomi Islam Vol.11 No.1 (2024)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/lamaisyir.v11i1.37912

The Organization of Islamic Cooperation (OIC) countries have experienced a significant increase in the unemployment rate, and some countries even have the highest unemployment rate in the world. This study aims to examine the effect of zakah, Islamic Bank, and macroeconomic variables consisting of economic growth, inflation and trade openness on the unemployment rate the Organization of Islamic Cooperation (OIC) members. The annual data on 40 OIC countries from 2012 to 2021 is employed on this research. The result shows that zakat and banking do not give significant influence on the reduction of unemployment rate while other macroeconomic variables have significant effect. This research can provide practical implications for decision makers, especially the government, to evaluate policies on zakat and Islamic banking so that they can influence the reduction of unemployment as well as other macroeconomic variables in OIC countries

The nexus between foreign direct investment and exports led-economic growth: Latest evidence from Pakistan using the autoregressive distributed lag (ARDL) approach Ahmed, Ishfaq; Muhamad Ahsan
Jurnal Ekonomi dan Bisnis Vol. 27 No. 2 (2024)
Publisher : Fakultas Ekonomika dan Bisnis Universitas Kristen Satya Wacana

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24914/jeb.v27i2.11696

Ekonomi Pakistan telah mengalami serangkaian peristiwa yang tidak menguntungkan, seperti perang melawan teror, ketidakstabilan politik, dan pandemi COVID-19, yang menyebabkan perlambatan ekonomi. Penelitian ini bertujuan menyelidiki ketergantungan pertumbuhan ekonomi Pakistan pada modal asing (FDI) atau ekspor melalui pertumbuhan yang dimotori oleh FDI dan ekspor. Data time series tahunan PDB, FDI, Ekspor, dan Impor dikumpulkan melalui website Bank Dunia sejak tahun 1980 hingga 2022. Pendekatan auto-regressive distributed lag (ARDL) digunakan untuk menganalisis data yang telah dikumpulkan. Hasil temuan menunjukkan bahwa pertumbuhan ekonomi yang dimotori oleh FDI (FLG) tidak valid dalam jangka panjang namun valid pada jangka pendek. Selain itu, ekspor telah memberi pengaruh positif dan signifikan terhadap pertumbuhan ekonomi dalam jangka panjang maupun jangka pendek dan menjadi sumber utama pertumbuhan ekonomi di Pakistan.

From Marginalization to Recognition: The Impact of Islamic Political Economy on Indonesia's Islamic Economy During the New Order Hamid, Ahmad Munir; Fitrianto, Achmad Room; Ahmed, Ishfaq
Economica: Jurnal Ekonomi Islam Vol. 15 No. 1 (2024)
Publisher : Fakultas Ekonomi dan Bisnis Islam UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/economica.2024.15.1.20305

The New Order era (1966–1998) marks a pivotal period in Indonesia's political and economic history. This study examines the influence of Islamic political economy on the evolution of Islamic economy during this time, using a literature review to explore how political dynamics and economic policies shaped its development. The findings reveal that Islamic political economy faced significant challenges due to the New Order government's focus on capitalist and industrial-oriented policies, which often marginalized sharia-based economic systems. For instance, the Islamic banking sector struggled to expand as regulations were more favorable to conventional banks. Despite these obstacles, intellectual groups and scholars sought to integrate Islamic principles into national policies, with the establishment of Islamic financial institutions like Bank Muamalat Indonesia in 1991 serving as a milestone. By the end of the New Order era, there was a noticeable increase in public interest and awareness of Islamic economy, driven by political shifts and a growing desire for a fairer, Islamic-aligned economic system. Consequently, Islamic economics began to gain wider recognition, eventually becoming an integral part of the national economic framework.

Exchange Rate, GDP and Inflation: Their Impact on Extreme Poverty in Indonesia Puspitasari, Sindi Dewi; Adianata, Happy; Azhari, Azhari; Ahmed, Ishfaq
EcceS: Economics, Social, and Development Studies Vol 11 No 2 (2024): December
Publisher : Economics Department, Faculty of Economic and Islamic Business, Universitas Islam Negeri Alauddin Makassar, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/ecc.v11i2.51792

This study simultaneously analyzes how the rupiah exchange rate, gross domestic product and inflation affect extreme poverty in Indonesia over the period 2003-2023. The novelty of this study lies in the long-term approach that examines the dynamic interaction of the three variables together, which has not been widely studied in the context of extreme poverty in Indonesia. The impact of this research in the future is expected to be the basis for a more comprehensive economic policy that focuses on exchange rate stability, overall economic growth, and inflation control to reduce extreme poverty sustainably. Using a quantitative approach and multiple linear regression analysis, it was found that exchange rate stability and GDP growth support poverty reduction, while inflation worsens the condition of vulnerable groups. This study found that exchange rate strengthening and GDP growth have a significant effect in reducing extreme poverty by increasing people's purchasing power and income. In contrast, inflation exacerbates extreme poverty by depressing the purchasing power of vulnerable groups. This emphasizes the importance of exchange rate stability, inclusive economic growth, and inflation control. The findings highlight the need for policies that maintain exchange rate stability, promote inclusive economic growth, and control inflation to effectively reduce extreme poverty in Indonesia. The implications of this study suggest that the government needs to integrate economic strategies that focus on stability and inflation control in poverty alleviation policies, especially to improve the welfare of low-income groups.

Islamization in Pakistan from Iskandar Ali Mirza to General Zia ul Haq: Socio-political Comparative Analysis Ahmed, Ishfaq; Fitrianto, Achmad Room; Hamid, Ahmed Munir
Nadwa: Jurnal Pendidikan Islam Vol. 18 No. 1 (2024): Nadwa: Jurnal Pendidikan Islam
Publisher : FITK UIN Walisongo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/nw.2024.18.1.20282

The purpose of this study is to critically analyze the process of Islamization with the view of economic, political, and constitutional development in Pakistan. For this purpose, in-depth literature, and newspaper articles were analyzed from 1956 to 1988. The findings of the in-depth analysis show that from 1956 to 1988, Pakistan saw strong military rule comprising 25 years of martial law collectively during this period. The first attempt to bring Islamization into the country was carried out in 1956 by promulgating an objective resolution. To successfully implement the agenda of Islamization, different government-based Islamic institutions were established: the Islamic Advisory Council and the Islamic Research Center. Bhutto and Zia came into power on the Islamic slogans; Muslim equality and Islamic system. Bhutto brought the 1973 constitution and declared Islam as a religion of the state and also declared Ahamdiya as non-Muslims due to their un-Islamic beliefs. General Zia introduced different Islamic laws through presential order, which describes the harsh punishment for major crimes, changed the direction of the law of evidence, and established Shariat Courts, which were specialized in giving the verdict according to the principles of Islam. It is evident that the political instability and intense martial law led Pakistan into a “politically devastated country” and most of the rulers during this period were strongly against democracy. Therefore, this study helps the reader to figure out the impact of the Islamization policies of different rulers on Pakistani society.

THE EFFECT OF INFLATION, BI 7 DAY (REVERSE) REPO RATE AND RUPIAH EXCHANGE RATE ON THIRD PARTY FUNDS OF ISLAMIC COMMERCIAL BANKS IN INDONESIA Ramadanika, Arista; Pamikatsih, Mutia; Suwono, Suwono; Ahmed, Ishfaq
ADILLA : Jurnal Ilmiah Ekonomi Syari'ah Vol 8 No 1 (2025): Januari
Publisher : Universitas Islam Darul 'ulum Lamongan

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.52166/adilla.v8i1.7818

As a financial institution, the main problem generally faced by Islamic banks is funds. Banks are unable to operate and function properly if there are inadequate funds. Third-party funds from the public play an important role in the sustainability of a bank. On the other hand, macroeconomic aspects can affect the collection of third party funds for banks. This study was conducted with the aim of knowing the effect of inflation, rupiah exchange rate, and BI 7 Day (Reverse) Repo Rate on Third Party Funds of Islamic Commercial Banks in Indonesia. In this study, the data analyzed consisted of quarterly data covering the period from the first quarter of 2020 to the fourth quarter of 2023. The sampling method used purposive sampling and 7 Islamic commercial banks were used as samples. Data analysis uses the Panel Data Regression Analysis method operated through the Eviews program. The results showed that inflation and the BI 7 Day (Reverse) Repo Rate had an effect on third party funds while the rupiah exchange rate had no effect on third party funds of Islamic commercial banks in Indonesia.

Implementation of Green Accounting in Business Sustainability Putri, Audyta Prasetyani; Yance, Evy; Hwihanus; Sultoni, Mohammad Hamim; Ahmed, Ishfaq
Shafin: Sharia Finance and Accounting Journal Vol. 5 No. 1 (2025)
Publisher : Institut Agama Islam Negeri (IAIN) Madura

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.19105/sfj.v5i1.15426

The purpose of this study is to ascertain how green accounting implementation affects the sustainability of businesses. The findings of earlier studies will be examined in order to examine this influence. The meta-analysis method is employed in this study. A meta analysis examines several research findings on related issues. Written research on the application of green accounting in business sustainability, in the form of journal articles selected for their alignment with the research theme, serves as the unit of analysis for this study. With the use of a documentation guide, the researcher is the primary tool in this study. Both quantitative data analysis using percentages and qualitative data analysis using narrative study data from the research findings were employed in the data analysis process. Sample errors were determined by calculating the findings of the meta-analysis. The variance of the population correlation is 0.569, while the sampling error variance is 0.023. A relatively modest percentage of variance, or 4%, is created by sampling error when the variance value of the sample error is compared to the population correlation variance value multiplied by 100%. This percentage shows that sampling error-related error bias is minimal.

Islamization in Pakistan from Iskandar Ali Mirza to General Zia ul Haq: Socio-political Comparative Analysis Ahmed, Ishfaq; Fitrianto, Achmad Room; Hamid, Ahmed Munir
Nadwa: Jurnal Pendidikan Islam Vol. 18 No. 1 (2024): Nadwa: Jurnal Pendidikan Islam
Publisher : Faculty of Education and Teacher Training, Universitas Islam Negeri Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/nw.2024.18.1.20282

The purpose of this study is to critically analyze the process of Islamization with the view of economic, political, and constitutional development in Pakistan. For this purpose, in-depth literature, and newspaper articles were analyzed from 1956 to 1988. The findings of the in-depth analysis show that from 1956 to 1988, Pakistan saw strong military rule comprising 25 years of martial law collectively during this period. The first attempt to bring Islamization into the country was carried out in 1956 by promulgating an objective resolution. To successfully implement the agenda of Islamization, different government-based Islamic institutions were established: the Islamic Advisory Council and the Islamic Research Center. Bhutto and Zia came into power on the Islamic slogans; Muslim equality and Islamic system. Bhutto brought the 1973 constitution and declared Islam as a religion of the state and also declared Ahamdiya as non-Muslims due to their un-Islamic beliefs. General Zia introduced different Islamic laws through presential order, which describes the harsh punishment for major crimes, changed the direction of the law of evidence, and established Shariat Courts, which were specialized in giving the verdict according to the principles of Islam. It is evident that the political instability and intense martial law led Pakistan into a “politically devastated country” and most of the rulers during this period were strongly against democracy. Therefore, this study helps the reader to figure out the impact of the Islamization policies of different rulers on Pakistani society.

Professional Zakat and Social Transformation: an Analysis of The Economic Empowerment Policy of The Baitul Maal Foundation of Bank Rakyat Indonesia (YBM BRI) Hamid, Ahmad Munir; Arifin, Sirajul; Ahmed, Ishfaq
IKONOMIKA Vol 9, No 1 (2024)
Publisher : Universitas Islam Negeri Raden Intan Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24042/ijebi.v9i1.22783

This study analyzes the role of Professional Zakat in social transformation through the economic empowerment policy of the Baitul Maal Foundation of Bank Rakyat Indonesia (YBM BRI). The research method uses a qualitative approach with data collection techniques through interviews and documentation studies. The results showed that YBM BRI has a strategic role in community economic empowerment through professional zakat. Through economic programs supported by zakat funds, YBM BRI has succeeded in providing training, business capital assistance, and coaching to the community to improve their economic independence. Policy analysis shows the importance of synergy between YBM BRI, the government, and the private sector in creating significant social impact. The implication of this research is the importance of continuing to increase the role of professional zakat in social transformation and inclusive economic development.

Unraveling The Influence of Halal Certification Logos on Consumer Choises: A Meta-Analysis in The Indonesian Market Sofyan, Syaakir; Sofyan, A. Syathir; Ahmed, Ishfaq; Rusanti, Ega; Noval, Noval; Syamsu, Nur
IQTISHODUNA: Jurnal Ekonomi Islam Vol. 14 No. 2 (2025): October (On Progress)
Publisher : LPPM, Universitas Islam Syarifuddin Lumajang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54471/iqtishoduna.v14i2.2886

The aim of this research is to examine the development of research on the influence of halal logos on purchasing decisions for halal products in Indonesia. The method used is meta analysis by reviewing 33 studies published in 2013-2023 with the help of the OpenMEE application. The results of this research show that there is a positive influence of the logo on decisions with a p-value obtained <0.001 and an estimated value of 0.415, which indicates that the strength of the relationship is in the medium category. The influence of the halal cosmetics industry is greater than that of the halal food industry. In terms of sample type, the student sample effect is greater than the general public sample effect. Meanwhile, in the location group, the effect of the provincial capital is greater than the effect of location in the district. Theoretically, this study strengthens the Theory of Planned Behavior (TPB) by confirming the role of halal logos as external cues that influence consumer attitudes and intentions. It also highlights the halal logo as a trust signal that shapes purchasing behavior across different contexts. Study limitations include limited sample size and lack of adequate moderators to explain within-subgroup variation. Therefore, future research needs to consider testing other important aspects, such as participant groups, countries/regions, and other variables.

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