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All Journal Majapahit Journal of Islamic Finance dan Management Majapahit Journal of Islamic Finance dan Management Kesejahteraan Bersama : Jurnal Pengabdian dan Keberlanjutan Masyarakat
Ayunda, Khalifa Damalin
Universitas Pamulang, Indonesia
Agriculture, Biological Sciences & Forestry Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Law, Crime, Criminology & Criminal Justice

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Penguatan Literasi Keuangan sebagai Upaya Meningkatkan Pengetahuan Keuangan dan Perilaku Keuangan di Desa Kanekes (Baduy) Fitriah Fitriah; Yanto Nius Gulo; Khalifa Damalin Ayunda; Novia Novia; Mirna Agustin; Tia Patiah
Kesejahteraan Bersama : Jurnal Pengabdian dan Keberlanjutan Masyarakat Vol. 3 No. 2 (2026): April: Kesejahteraan Bersama : Jurnal Pengabdian dan Keberlanjutan Masyarakat
Publisher : Lembaga Pengembangan Kinerja Dosen

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.62383/bersama.v3i2.3193

Abstract

Financial literacy is an essential aspect in supporting community financial management, particularly in rural and indigenous communities such as Kanekes Village (Baduy). Although the community has begun to access financial services and digital technology, their ability to manage finances remains limited. Therefore, this community service activity aims to identify the level of financial literacy and to encourage public awareness of better financial management. The method used is a descriptive qualitative approach through in-depth interviews and field observations. The results show that the community, especially in Baduy Luar, has utilized social media such as TikTok Live and Instagram for product marketing and has adopted digital payment systems such as QRIS through Bank BRI, although cash transactions still dominate. The main sources of income come from micro-enterprises based on local potential, including handicrafts, traditional clothing, accessories, and food products. However, the community generally lacks financial recording practices and structured financial planning, causing income to be directly spent on daily needs. The activity also indicates the emergence of initial awareness regarding financial management and highlights the role of youth as local leaders in adopting digital technology. Therefore, strengthening financial literacy is crucial to improving financial behavior and supporting sustainable economic transformation within the community.
ESG Score and Sharia Compliance as Determinants of Foreign Investment Flows into Sharia Stocks: A Multinational Panel Analysis 2019-2024 Mastiah; Muhamad Arifin; Khalifa Damalin Ayunda
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.926

Abstract

This study analyzes the influence of ESG Score and sharia compliance on Foreign Portfolio Investment (FPI) in Indonesia and Malaysia during the 2019–2024 period. Using a panel data approach on the JII and FBMHS indices, the results indicate that ESG Score has a significant positive effect on FPI, highlighting the growing importance of sustainability performance for global investors. Sharia compliance, represented by the Debt-to-Asset Ratio (DAR) and Islamic Income Ratio (IIR), also significantly affects FPI, suggesting that adherence to Islamic financial principles strengthens foreign investor confidence in Islamic capital markets. Simultaneously, the integration of ESG performance and sharia principles emerges as an important determinant of cross-border investment decisions. However, this study operationalizes sharia compliance using limited financial ratio proxies, which may not fully capture the multidimensional characteristics of Islamic screening standards. Broader aspects such as business activity screening, non-halal income purification, and Islamic governance mechanisms were not included in the analysis. Therefore, future studies are encouraged to incorporate more comprehensive qualitative and governance-related indicators of sharia compliance to better explain foreign investor behavior in Islamic capital markets. These findings provide strategic implications for regulators and issuers to strengthen the competitiveness of Islamic capital markets through more standardized sustainability and sharia governance reporting.
ESG Score and Sharia Compliance as Determinants of Foreign Investment Flows into Sharia Stocks: A Multinational Panel Analysis 2019-2024 Mastiah; Muhamad Arifin; Khalifa Damalin Ayunda
Majapahit Journal of Islamic Finance and Management Vol. 6 No. 2 (2026): Islamic Finance and Management
Publisher : Universitas KH. Abdul Chalim Mojokerto

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.31538/mjifm.v6i2.926

Abstract

This study analyzes the influence of ESG Score and sharia compliance on Foreign Portfolio Investment (FPI) in Indonesia and Malaysia during the 2019–2024 period. Using a panel data approach on the JII and FBMHS indices, the results indicate that ESG Score has a significant positive effect on FPI, highlighting the growing importance of sustainability performance for global investors. Sharia compliance, represented by the Debt-to-Asset Ratio (DAR) and Islamic Income Ratio (IIR), also significantly affects FPI, suggesting that adherence to Islamic financial principles strengthens foreign investor confidence in Islamic capital markets. Simultaneously, the integration of ESG performance and sharia principles emerges as an important determinant of cross-border investment decisions. However, this study operationalizes sharia compliance using limited financial ratio proxies, which may not fully capture the multidimensional characteristics of Islamic screening standards. Broader aspects such as business activity screening, non-halal income purification, and Islamic governance mechanisms were not included in the analysis. Therefore, future studies are encouraged to incorporate more comprehensive qualitative and governance-related indicators of sharia compliance to better explain foreign investor behavior in Islamic capital markets. These findings provide strategic implications for regulators and issuers to strengthen the competitiveness of Islamic capital markets through more standardized sustainability and sharia governance reporting.
Co-Authors Fitriah, Fitriah Mastiah Mirna Agustin Muhamad Arifin Novia Novia Tia Patiah Yanto Nius Gulo