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All Journal Laa Maisyir Jurnal Ekonomi Islam Jurnal Ekonomi & Keuangan Islam Journal of Islamic Accounting and Finance Research Jurnal Ekonomika dan Bisnis Islam
Rajasa, Muhammad Attar Indra
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Religion Economics, Econometrics & Finance Social Sciences

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The effect of the level of Islamicity performance index on the financial performance of Islamic banks Gunarianto, Gunarianto; Indra Rajasa, Muhammad Attar; Supriani, Indri
Journal of Islamic Accounting and Finance Research Vol 6, No 1 (2024)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/jiafr.2024.6.1.19941

Abstract

Purpose - This study examines the effects of the Islamicity Performance Index (IPI) on Muamalat Indonesia's financial performance, specifically focusing on its adherence to sharia governance, sharia compliance, and sharia social indicators.Method - The study employs a quantitative methodology, notably utilizing Autoregressive Distributed Lag statistical technique to examine secondary data. The dataset comprises quarterly time series data encompassing the period from the initial quarter of 2013Q1 to the conclusion of 2023Q2.Result - Equitable Distribution Ratio exerts a positive impact on financial performance, while Profit-Sharing Ratio demonstrates a deleterious effect. In contrast, the Zakat Performance Ratio and the comparison between Islamic Income and Non-Islamic Income do not demonstrate statistically significant effects.Implication - These findings emphasize the need to improve the usefulness of IPI in enhancing financial outcomes for Islamic financial institutions by addressing obstacles. The study provides insights into the difficulties faced by Islamic banks when implementing profit-sharing financing methods, while also emphasizing the significant impact of Equitable Distribution Ratios on enhancing financial performance.Originality - This study not only examines a single element of financial ratios, as previous study has done, additionally combines two crucial ratios: ROA and ROE. The use of ARDL) also offers a more detailed elucidation of the correlation between these variables.
Do Sharia Investments Promote Responsible Consumption? A Structural Equation Modeling Approach Indra Rajasa, Muhammad Attar; Tamamala, Zailan Basri; Ratnasari, Ririn Tri
LAA MAISYIR: Jurnal Ekonomi Islam Vol 12 No 1 (2025)
Publisher : Universitas Islam Negeri Alauddin Makassar

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.24252/lamaisyir.v12i1.56957

Abstract

on progress
DOES PRODUCT INNOVATION ENHANCE MUSTAHIQ WELFARE THROUGH THE MEDIATION OF ISLAMIC BUSINESS SUCCESS? A PARTIAL LEAST SQUARES STRUCTURAL EQUATION MODELLING APPROACH Tamamala, Zailan Basri; Rajasa, Muhammad Attar Indra; Ratnasari, Ririn Tri
Jurnal Ekonomika dan Bisnis Islam Vol 8 No 3 (2025): Desember
Publisher : Universitas Negeri Surabaya

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Abstract

The welfare of mustahiq (zakat recipients) is one of the primary objectives of implementing productive zakat in the Islamic economic system. This study focuses on the mediating role of Islamic business success in the relationship between product innovation and mustahiq welfare. Referring to the principles of maqasid al-Shari'ah, a quantitative approach was used in this study, where primary data were obtained from micro-entrepreneurs who are recipients of productive zakat in Indonesia. Analysis using Partial Least Squares-Structural Equation Modeling (PLS-SEM) shows that product innovation significantly contributes to the success of Islamic businesses, ultimately improving the welfare of mustahiq. Furthermore, Islamic entrepreneurial motivation and entrepreneurial competency are proven to be essential factors influencing business success and its impact on sustainably improving the quality of life of zakat recipients. This study highlights the importance of a holistic approach integrating spiritual, social, and economic dimensions in zakat-based empowerment programs. These findings provide strategic recommendations for zakat institutions to design more effective interventions to support the financial independence of mustahiq and achieve the goals of sustainable Islamic social finance.
An empirical analysis of profit-and-loss sharing financing in Indonesian Islamic banks Suman, Agus; Supriani, Indri; Rajasa, Muhammad Attar Indra; Anisa, Vera Novia
Jurnal Ekonomi & Keuangan Islam Volume 12 No. 1, January 2026
Publisher : Faculty of Economics, Universitas Islam Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/JEKI.vol12.iss1.art6

Abstract

Purpose – This study examines the determinants of profit-and-loss sharing (PLS) financing adoption in Indonesia by incorporating bank-specific, macroeconomic, and religiosity variables.Methodology – Utilizing monthly time-series data from October 2014 to October 2023, this research employs the Autoregressive Distributed Lag (ARDL) approach to model both long-run and short-run relationships. The analyzed variables include PLS financing, non-performing financing (NPF), capital adequacy ratio (CAR), total assets (TA), Zakat, Infaq, and Shadaqah (ZIS), the Islamic financing rate, the exchange rate, inflation, and the Industrial Production Index (IPI).Findings – The results indicate that in the short run, PLS financing is significantly influenced by CAR, TA, ZIS, and IPI. In the long run, however, PLS financing is predominantly determined by internal banking factors, specifically CAR and TA. Bank capitalization and asset size are critical to PLS financing dynamics, ensuring stability and responsiveness to internal financial conditions, thereby enhancing its viability within Indonesia’s dual banking system.Implications – The findings suggest that Indonesian regulators and bank policymakers should focus on enhancing the long-term availability of PLS-based financing, establishing standardized monitoring frameworks, and improving financial transparency. Furthermore, fostering innovation in Sharia-compliant products and investing in capacity-building initiatives that integrate Islamic jurisprudence with modern finance are recommended to strengthen the sustainability and competitiveness of PLS financing.Originality – This study contributes to the literature by providing an integrated empirical analysis of both internal bank-specific and external macroeconomic determinants of PLS financing in Indonesia, a comprehensive approach rarely explored in prior research.
Co-Authors Agus Suman Anisa, Vera Novia Gunarianto Gunarianto Ririn Tri Ratnasari Supriani, Indri Tamamala, Zailan Basri