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All Journal AkMen JURNAL ILMIAH Mutanaqishah: Journal of Islamic Banking
Wirdiansah, Muhamad
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Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Other

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PENGARUH RELIGIUSITAS, FINANCIAL LITERACY, RISK PERCEPTION DAN RISK TOLERANCE TERHADAP PENGAMBILAN KEPUTUSAN INVESTASI PADA CASH WAQF LINKED DEPOSIT Wirdiansah, Muhamad; Syarifudin, Efi; Peristiwo , Hadi
AkMen JURNAL ILMIAH Vol. 22 No. 1 (2025): AkMen JURNAL ILMIAH
Publisher : Lembaga Penelitian, Publikasi dan Pengabdian Pada Masyarakat

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37476/akmen.v22i1.5301

Abstract

Investment in Islamic financial instruments, such as cash waqf linked deposit (CWLD), is the latest innovation of social investment issued by the Indonesian Waqf Agency, but investment decisions in this product are influenced by various factors, such as individual religiosity, financial literacy, risk perception, and risk tolerance. These factors are known to play an important role in investment decisions, but there have been no studies that test its influence on investment decision-making in CWLD. This study aims to analyze the influence of religiosity, financial literacy, risk perception, and risk tolerance on investment decision-making in cash waqf linked deposit (CWLD) products. A quantitative approach was used in this study with a survey method through a questionnaire distributed to 150 respondents of a sample of banking employees at two different banks. Data analysis was carried out using the Partial Least Square method to test the influence of each independent variable partially and simultaneously on the dependent variable. The results of the study show that religiosity, financial literacy, risk perception, and risk tolerance have a significant and simultaneous influence on investment decision-making in Cash Waqf Linked Deposit (CWLD). Religiosity and risk perception have a strong positive influence on investment decision-making. Meanwhile, financial literacy and risk tolerance have a more limited influence on investment decision-making. In conclusion, religiosity, financial literacy, risk perception, and risk tolerance have a positive and simultaneous influence on investment decision-making in Cash Waqf Linked Deposit (CWLD).
The Implementation of Islamic Business Ethics in Practice: The Income Smoothing Method in Islamic Banking Wirdiansah, Muhamad; Anton Priyo Nugroho; Mawftiq, Rarasati; Muhammad Arif Yahya
Mutanaqishah: Journal of Islamic Banking Vol. 5 No. 1 (2025): January - June
Publisher : Department of Islamic Banking

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/mutanaqishah.v5i1.1999

Abstract

Purpose:This study examines Islamic business ethics in income smoothing within Islamic banking. It analyzes whether income smoothing aligns with Islamic ethics principles of fairness, transparency, and accountability, and its implications for stakeholder trust and institutional integrity. Methodology:A qualitative approach was used, which included looking at the content of Islamic banks' financial statements and talking to important people, like Shariah board members and financial experts. The study also incorporated a review of relevant Islamic jurisprudential texts to assess compliance with Shariah principles. Findings:Although income smoothing is a common practice to stabilize profit distribution and ensure customer satisfaction, its implementation raises ethical concerns, according to the research. Some practices may inadvertently conflict with the principles of transparency and honesty in financial reporting. However, when applied within Shariah-compliant frameworks, income smoothing can enhance the stability of Islamic banks and foster stakeholder trust. Implication:The findings highlight the necessity of implementing stricter regulatory oversight and formulating comprehensive guidelines to align income-smoothing practices with Islamic business ethics. Banks should prioritize ethical considerations to maintain their Shariah-compliant status and uphold public trust. Originality:This study contributes to the limited body of research on the intersection of Islamic business ethics and income smoothing practices. It offers a novel perspective by integrating Shariah principles into the discussion of financial management strategies in Islamic banking.
Co-Authors Anton Priyo Nugroho EFI SYARIFUDIN, EFI Mawftiq, Rarasati Muhammad Arif Yahya Peristiwo , Hadi