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Fitri Nur Latifah
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INDONESIA
Perisai : Islamic Banking and Finance Journal
Published by Universitas Muhammadiyah Sidoarjo
ISSN : 25033077     EISSN : 25033077     DOI : https://doi.org/10.21070/perisai
Core Subject : Economy,
Economics, Econometrics & Finance
PERISAI Journal of Islamic Banking and Finance publishes articles and short communications in Banking and Finance covers wide range of islamic studies forms such as Fiqh Muamalah, Economy, Banking, Finance, Islamic Studies and Business Model issue. Reader : Islamic Studies, society, student Author : academic, professional
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Pemasaran
Articles 171 Documents
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Sharia Audit in Indonesia: Implementation, Challenges, And Future Prospects: Audit Syariah di Indonesia: Implementasi, Tantangan, dan Prospek Masa Depan Fadhlihi, Andueriganta; Yufantria, Fenni; Etika, Citra
Perisai : Islamic Banking and Finance Journal Vol. 9 No. 2 (2025): October
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v9i2.1870

Abstract

This study aims to examine how the implementation of Sharia audit is carried out in Indonesia and to identify the challenges that must be addressed for future development. This research employs a qualitative approach using a literature review method. The findings of this study indicate several issues in the development of Sharia audit in Indonesia, including weak regulations related to Sharia auditing, limited numbers and competencies of Sharia auditors, and the absence of a comprehensive Sharia audit standard. These findings highlight the need to strengthen the regulatory framework, enhance auditor competencies, and establish national Sharia audit standardization to reinforce governance, accountability, and public trust in Indonesia’s Islamic financial institutions.  
Geographic Information System (GIS) Based Zakat Distribution Model for Optimizing Efficiency and Transparency in Zakat Management: Model Distribusi Zakat Berbasis Geographic Information System (GIS) Untuk Optimalisasi Efisiensi dan Transparansi Pengelolaan Zakat Wahyudi, Muhamad; Rokhaniyah, Siti; 'Aini, Saras Shinta Qurrota; Hamdani, Rifki
Perisai : Islamic Banking and Finance Journal Vol. 9 No. 2 (2025): October
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v9i2.1874

Abstract

Zakat institutions in Indonesia still face various challenges, particularly in zakat management. One of the main issues is how to ensure zakat distribution is well-targeted, effective, and efficient. Determining the appropriate distribution areas becomes a solution in addressing zakat distribution problems. This study aims to design a web-based zakat distribution application by utilizing Geographic Information System (GIS) technology, integrated with SAGA GIS and QGIS tools, using a mixed-methods approach. Mapping of zakat recipients (mustahik) and prioritization of distribution areas were analyzed using spatial data. Meanwhile, field surveys were conducted to validate data accuracy. The study reveals that zakat distribution using geospatial technology is more effective and efficient compared to conventional methods. The developed web-based zakat distribution system application allows both zakat administrators and the public to monitor zakat distribution programs in real-time. These findings affirm that the application of geospatial technology can be a strategic solution to strengthen zakat governance based on the principles of maqashid sharia.
Determinants of Generation Z’s Interest in Using BYOND by BSI: An Empirical Study: Faktor-Faktor yang Mempengaruhi Minat Generasi Z dalam Menggunakan BYOND by BSI: Studi Empiris Azizi, Nadya Apriza; Umam, Khotibul; Fadllan, Fadllan
Perisai : Islamic Banking and Finance Journal Vol. 9 No. 2 (2025): October
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v9i2.1876

Abstract

This study aims to analyze the factors influencing Generation Z’s interest in using BYOND for BSI digital banking services, selecting ease of use, security, and service features as independent variables. The researcher used a quantitative approach, conducting a purposive survey of 120 BSI customers in Pamekasan. Data analysis used SPSS version 24 to test validity and reliability, assess classical assumptions, perform multiple linear regression, and test hypotheses. The results showed that ease of use and security had a positive, significant effect on Generation Z’s interest, while service features had no significant partial effect. The regression model explains a significant amount of variation in interest. Theoretically, this study integrates the UTAUT and TAM models in Islamic digital banking for Generation Z, highlighting service features as minimum expectations. The practical implications recommend that BSI improve its UI/UX, security, and innovative features. The limitations of this study include its local scope and low R-squared, and it offers suggestions for broader follow-up research.
The Impact of Green Banking on Profitability of Indonesia’s Islamic Commercial Banks Khoirul Umam; Alfi Khilmi Khusnia; Vina Fithriana Wibisono; Naahilah Hunafaa' Al-Qudsy
Perisai : Islamic Banking and Finance Journal Vol. 9 No. 2 (2025): October
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v9i2.1893

Abstract

The intensifying competition within the banking industry has driven institutions to adopt strategies that not only focus on profitability but also uphold sustainability values. Among these initiatives, green banking; representing a form of green investment within the Islamic financial framework; has become a key approach. This study investigates how green banking practices, and the number of ATMs affect the profitability of Islamic commercial banks in Indonesia, using Return on Assets (ROA) as the performance measure for the 2019–2024 period. Using a quantitative approach, the research applies panel data regression with a Fixed Effect Model (FEM). The results reveal that green banking practices do not have a significant impact on bank profitability. Although theory suggests a positive correlation, the empirical results reveal that its contribution to improving ROA remains unproven, likely due to its limited and long-term implementation stage. Similarly, the number of ATM units shows no significant effect and even tends to negatively affect profitability, possibly because of high operational expenses and customers’ growing shift toward digital banking services. Despite the insignificant short-term impact, the incorporation of environmentally friendly banking measures by Islamic banks represents an essential step toward incorporating environmentally responsible financing and energy efficiency. This approach holds promising potential to enhance the sustainability, reputation, and competitiveness of Islamic banks in the long term.
Is Islamic Banking’s Role in Third-Party Funds Becoming Significant? : Evidence from CASA and Time Deposits in Indonesia (2020–2024) Novi Lailatul Fitri; Rovila El Maghviroh; Indra Suwandi
Perisai : Islamic Banking and Finance Journal Vol. 10 No. 1 (2026): April
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v10i1.1867

Abstract

This study investigates the dynamics of third-party fund (TPF) mobilization within Indonesia’s dual-banking system, focusing on the comparative roles of Islamic banks (SB) and conventional banks (CB) from 2020 to 2024. By decomposing TPF into two components—CASA (demand and savings deposits) and time deposits (TD)—the research offers novel insights into market share shifts and inter-system interdependencies. Using a quantitative approach, the analysis draws on 60 months of official banking data from the OJK and employs descriptive statistics, time-series trend analysis, non-parametric and comparative tests, cross-correlation, and ARIMA modeling to capture structural dynamics and substitution effects. Findings indicate that CB maintains dominance with an average TPF market share exceeding 90%, despite a statistically significant downward trend. Conversely, SB records steady but moderate gains, primarily within CASA, while TD remain largely stagnant. SB exhibits greater volatility in growth rates, signaling heightened sensitivity to market shocks. Cross-correlation results reveal strong substitution effects between CB and SB in CASA products, whereas SB’s TD demonstrate weaker interdependence with CB counterparts. ARIMA modeling further confirms CB’s market share as highly predictable and structurally stable, contrasting with SB’s more volatile and less forecastable pattern. This study contributes by introducing a structural comparison of CASA and TD between SB and CB—a rarely adopted approach in previous literature, which typically treats TPF as a homogeneous variable. The results suggest that SB’s relative market share gains reflect CB’s slower expansion rather than accelerated SB growth.  
Self-Declaration in Halal Certification: Regulatory Loophole, Ethical Risk, or Participatory Governance Opportunity in Indonesia Menur Kusumaningtyas; Fitri Nur Latifah
Perisai : Islamic Banking and Finance Journal Vol. 10 No. 1 (2026): April
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v10i1.2028

Abstract

The rapid growth of the halal industry has positioned halal certification as a crucial regulatory instrument to ensure religious compliance, consumer trust, and market integrity. The self-declaration policy for halal certification in Indonesia aims to simplify procedures and expand access for micro and small businesses. However, this policy has sparked debate regarding halal integrity, regulatory accountability, and ethical assurance. This research uses a qualitative critical legal approach with doctrinal and socio-legal analysis of regulations, policy documents, and public discourse regarding self-declaration. The analysis is conducted within the framework of the maqasid sharia and Islamic economic ethics. The results show that self-declaration improves administrative efficiency and certification access, but also poses governance risks in the form of verification gaps, weakened accountability, and a potential decline in public trust. Delegating halal claims to business actors without independent oversight risks turning halal certification into an administrative formality. Therefore, self-declaration needs to be integrated into a participatory halal governance model involving regulators, religious authorities, independent auditors, and the community. This model is considered capable of balancing regulatory efficiency, ethical integrity, and religious legitimacy. Keywords: Halal Certification, Self-Declaration, Participatory Governance, Maqasid Shariah, Islamic Economic Ethics
Stakeholder Strategies and Sustainable Profitability in Islamic Banking: SDGs, Digitalization, and Institutional Logics Mohammad Hatta Fahamsyah; Muhammad Najamuddin Dwi Miharja; Adriana Syariefur Rakhmat
Perisai : Islamic Banking and Finance Journal Vol. 10 No. 1 (2026): April
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v10i1.2029

Abstract

This study investigates the impact of stakeholder-oriented strategies, Sustainable Development Goals (SDGs) integration, and digitalization on the profitability of Islamic banks in Indonesia, with Return on Assets (ROA) used as a proxy for financial performance. A quantitative approach is employed using Partial Least Squares Structural Equation Modeling (PLS-SEM) to analyze panel data from 10 Islamic commercial banks over the period 2019–2023. The findings reveal that stakeholder-oriented strategies have a positive and significant effect on profitability. SDGs integration not only enhances financial performance but also functions as a partial mediator in the relationship between stakeholder strategies and profitability. In addition, digitalization acts as a moderating variable that strengthens this relationship, indicating its role as a strategic enabler in improving financial outcomes. These results highlight the importance of integrating sustainability and digital transformation into the strategic management of Islamic banking institutions. From an institutional logics perspective, the findings reflect the alignment of economic, social, and religious dimensions in achieving sustainable profitability. This study contributes to the literature by offering a comprehensive and integrated framework that links stakeholder theory, SDGs, and digitalization within the context of Islamic banking. Keywords: Stakeholder Strategies, Islamic Banking, SDGs, Digitalization, Profitability (ROA), Institutional Logics
Ideology, Discourse, and Green Economy: A Comparative Analysis of Lazismu, Lazisnu, and Baznas in Indonesia Kumara Adji; Sriyono Sriyono; Khairunnisa Abd Samad; Khoong Tai Wai
Perisai : Islamic Banking and Finance Journal Vol. 10 No. 1 (2026): April
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v10i1.2030

Abstract

This study examines how ideological paradigms shape the construction and implementation of green economy within Islamic philanthropic institutions in Indonesia. While existing studies on zakat predominantly focus on governance and socio-economic impact, little attention has been given to the ideological and discursive foundations underlying institutional practices. Addressing this gap, the study adopts a qualitative comparative approach to analyze three major zakat institutions—Lazismu, Lazisnu, and Baznas—which represent modernist, traditionalist, and state-driven paradigms, respectively.Drawing on a critical framework inspired by Michel Foucault, particularly the concepts of discourse and power–knowledge, this research demonstrates that green economy is not a neutral or universally defined concept, but a contested discourse shaped by institutional ideologies. The findings reveal that each institution articulates and operationalizes green economy differently: as a measurable sustainability framework aligned with global standards, as a culturally embedded expression of communal ethics, or as part of national development policy.The study contributes to the literature by advancing an epistemological perspective on zakat, highlighting the role of ideology in shaping economic-environmental practices, and proposing the possibility of a synthetic model of Islamic green economy. These findings offer both theoretical insights and practical implications for the development of sustainable Islamic philanthropy in diverse socio-religious contexts. Keywords: Islamic Philanthropy,  Zakat Institutions,  Green Economy, Discourse Analysis,  Ideology, Indonesia, Sustainability
From Helper to Supervisor: Career Advancement Based on Meritocracy and Islamic Work Values Johni Harius Putranto
Perisai : Islamic Banking and Finance Journal Vol. 10 No. 1 (2026): April
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v10i1.2039

Abstract

Career advancement is an important mechanism to improve employee motivation, productivity, and organizational sustainability. However, in many small and medium enterprises (SMEs), promotion systems are often informal and vulnerable to subjectivity. This study investigates how meritocracy and Islamic work values influence internal career advancement at PT. Mecca Abadi Sejahtera steel structure manufacturing company in Sidoarjo. The company applies a structured internal hierarchy consisting of helper, machine operator, coordinator operator, and production supervisor. Promotion decisions are based on job rotation experience, technical competence, communication skills, and responsibility. This study employed a mixed-method approach involving all 35 employees through census sampling and interviews with management. Quantitative data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM), while qualitative findings supported contextual interpretation. The results indicate that competence, empowering leadership, self-efficacy, and Islamic work values significantly affect career advancement. Transparent merit-based systems were also found to strengthen employee trust and work motivation. This study contributes to the literature of Islamic Human Resource Management by demonstrating the practical relevance of amanah (trustworthiness), kafa’ah (competence), and fairness in promotion systems within manufacturing SMEs. Keywords: Career Advancement, Meritocracy, Islamic HRM, Empowering Leadership, Competence, SMEs
Development of Green Sukuk in Indonesia Based on The Pillars of Sustainable Development Indar Fauziah Ulfah; Muhammad Fakhri Al-Kahfi
Perisai : Islamic Banking and Finance Journal Vol. 10 No. 1 (2026): April
Publisher : Universitas Muhammadiyah Sidoarjo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21070/perisai.v10i1.2040

Abstract

Green Sukuk represents a transformative Islamic financial instrument specifically designed to fund environmentally friendly projects that accelerate the achievement of the Sustainable Development Goals (SDGs). Despite its potential, the issuance and management of Green Sukuk in Indonesia still encounter several operational clusters that require further optimization. This research aims to provide a comprehensive literature review regarding the development of Green Sukuk in Indonesia, analyzed through the framework of the SDGs Pillars (Social, Economic, Environmental, and Governance). The methodology employed is a qualitative literature review, utilizing a three-stage data analysis technique: data reduction, data display, and conclusion drawing/verification. The findings reveal that Green Sukuk plays a pivotal role as a catalyst for the sustainable development agenda and climate change mitigation. However, the instrument faces significant structural hurdles, including liquidity constraints in secondary markets, the risk of greenwashing, and the necessity for more rigorous impact reporting standards. The study concludes that while Green Sukuk is a vital financing bridge, further empirical research is essential to examine its practical implementation and ensure measurable contributions toward achieving Indonesia's 2030 SDG targets. Keywords: Green Sukuk, SDGs, Islamic Finance, Climate Change

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