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All Journal IEJST (Industrial Engineering Journal of the University of Sarjanawiyata Tamansiswa) Millah: Journal of Religious Studies Journal of Islamic Economics Lariba
Nayak, Venkatesha
Unknown Affiliation
Religion Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Engineering Industrial & Manufacturing Engineering Social Sciences

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Sources and use of Indonesia’s foreign debt from an Islamic economic perspective based on Siddiqi’s theory Sumantri, Nur Adnan Tamalia Ali; Andriansyah, Yuli; Nayak, Venkatesha
Journal of Islamic Economics Lariba Vol. 10 No. 1 (2024)
Publisher : Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/jielariba.vol10.iss1.art28

Abstract

Introduction Foreign debt has been a significant factor influencing Indonesia's economic growth, both positively and negatively. Despite its role as a critical source of funding, mismanagement has led to dependency and economic challenges. Research on foreign debt from the perspective of Islamic economics remains limited, especially concerning its sources, utilization, and compliance with Islamic principles.Objectives This study aims to analyze the sources and uses of Indonesia’s foreign debt from an Islamic economic perspective, utilizing M. Nejatullah Siddiqi's theory. It also seeks to assess how foreign debt aligns with Islamic principles and its implications for the country's economy.Method A qualitative research methodology was employed, focusing on a literature review of previous studies, policy documents, and secondary data related to Indonesia’s foreign debt from 2009 to 2018.Results The study identifies that Indonesia's foreign debt is sourced through bilateral and multilateral loans and used primarily for infrastructure and public services. However, significant inefficiencies and interest-based practices conflict with Islamic principles, particularly the prohibition of riba (usury). Misallocation of funds and rising debt levels have further exacerbated economic disparities and dependency on external creditors.Implications To reduce dependency on foreign debt and align financial practices with Islamic principles, policy recommendations include optimizing domestic resource management, implementing Sharia-compliant financing models, and improving accountability in public expenditure.Originality/Novelty This study provides a comprehensive analysis of Indonesia's foreign debt within the framework of Islamic economics, offering practical insights for policymakers to ensure sustainable and ethical economic practices while addressing the country’s financial challenges.
Managing the Self: Lessons from the Bhagavad Gita on Personal Management and Development Hegde, Kavya P.; Nayak, Venkatesha
Millah: Journal of Religious Studies Vol. 24, No. 1, February 2025
Publisher : Program Studi Ilmu Agama Islam Program Magister, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/millah.vol24.iss1.art9

Abstract

This study delves into the key principles of the Bhagavad Gita pertaining to personal management and development, assessing their applicability in contemporary practices. Utilizing a textual analysis approach alongside an extensive review of relevant literature, the study examines the Gita’s teachings on detachment, expertise in action, self-discipline, and spiritual consciousness—all crucial aspects of personal management and development. For individuals and organizations seeking effective personal management and development, To integrate these principles into daily routines, the study suggests structured reflection practices, goal-setting frameworks, and leadership training programs that emphasize ethical decision-making and mindfulness. Ultimately, the study concludes that adopting these timeless principles can cultivate a work culture grounded in respect, compassion, and holistic well-being.
Harnessing Artificial Intelligence: Pioneering Opportunities for Aspiring Entrepreneurs Hegde, Kavya P.; Nayak, Venkatesha
INDUSTRIAL ENGINEERING JOURNAL of the UNIVERSITY of SARJANAWIYATA TAMANSISWA Vol 8 No 2 (2024)
Publisher : Universitas Sarjanawiyata Tamansiswa

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.30738/iejst.v8i2.0240204

Abstract

The rapid advancement of Artificial Intelligence (AI) is reshaping entrepreneurship by offering new opportunities for innovation and market disruption. This study explores AI’s role in fostering entrepreneurial ventures by reducing uncertainty, enhancing decision-making, and enabling data-driven strategies. The research aims to examine how AI facilitates entrepreneurial opportunities, supports informed decision-making, and impacts business performance. A mixed-methods approach was employed, incorporating a systematic literature review, survey data from 114 entrepreneurs using AI, and semi-structured interviews with industry experts. Statistical and thematic analyses assessed AI's impact on entrepreneurial success. Findings indicate that AI enhances opportunity identification, improves strategic decision-making, and contributes to business growth. Entrepreneurs utilizing AI reported a 12.5% average revenue increase compared to 7.3% for non-AI firms and improved operational efficiency and customer satisfaction. However, challenges such as cost barriers, ethical concerns, and regulatory constraints were noted, particularly for small businesses. AI serves as a transformative tool for entrepreneurship, driving innovation and competitiveness. However, equitable access, regulatory balance, and responsible adoption remain critical for sustainable growth. Future research should explore scalable AI integration strategies to support diverse entrepreneurial ecosystems.
Co-Authors Hegde, Kavya P. Sumantri, Nur Adnan Tamalia Ali Yuli Andriansyah