Dhani, Rifqi Rama
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Analisis Manajemen Pengajian Gus Iqdam dan Dampaknya terhadap Peningkatan Pendapatan Masyarakat Desa Karanggayam Oktaviana, Helmalia; Dhani, Rifqi Rama; Mashudi, Mashudi
Journal of Islamic Economic Studies Vol. 1 No. 4 (2025): December 2025
Publisher : Yayasan Darussalam Patalassang

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Abstract

Regular Islamic gatherings function not only as spiritual and social activities but also have the potential to stimulate local economic activity. This study aims to analyze the role of Gus Iqdam’s religious gathering management in improving the income of the Karanggayam Village community. The research employs a qualitative field approach through interviews, observations, and documentation. The findings show that structured management—planning, organizing, implementing, and controlling—can create economic activities that increase vendors’ income. Daily earnings of vendors may rise up to four times compared to regular days. Factors such as business capital, length of business operation, location, and working hours also influence income levels. These findings indicate that the management of religious gatherings can serve as an instrument for community economic empowerment and holds potential to be developed as a model for strengthening community-based economic development.  
Dynamic Causality Relationship between Bitcoin and Global Islamic Equity Markets: A Pre- and Post-COVID-19 VECM Analysis Dhani, Rifqi Rama; Oktaviana, Helmalia; Sulistiyah, Sulistiyah; Subagiyo, Rokhmat; Aswad, Muhammad
Indonesian Interdisciplinary Journal of Sharia Economics (IIJSE) Vol 9 No 1 (2026): Sharia Economics
Publisher : Universitas KH. Abdul Chalim Mojokerto

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This study explores the dynamic interactions between Bitcoin (BTC), the Dow Jones Islamic Market Index (DJIMI), and the FTSE SGX Shariah 100 Index (FTSGS100) from 2015 to 2025, employing the Vector Error Correction Model (VECM) to analyze both short- and long-term relationships. The Johansen cointegration test indicates a long-term equilibrium among the three variables, with DJIMI showing a stronger connection to Bitcoin compared to FTSGS100. In the short run, Bitcoin exhibits a strong response to its own shocks, whereas the Sharia indices are more stable and less responsive to short-term fluctuations in Bitcoin’s volatility. The findings underscore the weak integration between global Sharia equity markets and digital assets, positioning Bitcoin as a speculative asset largely independent of Sharia-compliant markets. These results suggest the importance of enhanced risk management and portfolio diversification strategies for investors navigating the rapidly changing financial landscape. Additionally, this research enhances our understanding of the interactions between cryptocurrency markets and traditional financial markets, particularly Sharia-compliant indices, during times of global financial uncertainty.