Islamiconomic: Jurnal Ekonomi Islam
Vol 15, No 1 (2024)

Feasibility Study for Transitioning from Conventional Banking to Islamic Banking

Maskuroh, Nihayatul (Unknown)
Suganda, Asep Dadan (Unknown)
Akbar, Kurni (Unknown)



Article Info

Publish Date
30 Jun 2024

Abstract

This study examines the feasibility and strategic approach for transitioning the Faculty of Economics and Islamic Business (FEBI) at UIN Sultan Maulana Hasanuddin Banten from conventional to Islamic banking. The transformation aims to align institutional operations with Islamic economic principles and strengthen ideological consistency. A quantitative SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis integrated with the Analytic Network Process (ANP) was employed to prioritize strategic alternatives, using Super Decisions software. Data were collected through surveys, interviews, and document analysis involving faculty members, staff, and students. The Internal Factor Evaluation (IFE) score of 3.60 and the External Factor Evaluation (EFE) score of 2.68 position the faculty in Quadrant I of the SWOT matrix, indicating an aggressive strategy. Survey results show 56.5% of respondents consider the shift “fairly important” and 50.8% view it as a valuable educational opportunity. Recommended strategies emphasize leveraging strengths to seize opportunities, addressing weaknesses, and mitigating threats. The findings suggest that transitioning to Islamic banking is both feasible and strategically advantageous, offering practical implications for policy alignment and operational implementation in higher education institutions seeking Sharia-compliant transformation

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Journal Info

Abbrev

ijei

Publisher

Subject

Religion Economics, Econometrics & Finance Social Sciences

Description

Islamiconomic: Jurnal Ekonomi Islam (IJEI) is a periodical scientific publication intended for economists who want to publish their articles in the form of literature studies, research, and scientific development in the field of Islamic economics. IJEI was first published in 2009 which is annually ...