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al-Uqud : Journal of Islamic Economics
ISSN : 25490850     EISSN : 25483544     DOI : http://dx.doi.org/10.26740/al-uqud
Core Subject : Economy,
al-Uqûd : Journal of Islamic Economics published by the Islamic Economic Studies Department of Economics Faculty of Economics, Universitas Negeri Surabaya in cooperation with the Forum of Economic and Business Lecturer Islam (FORDEBI). al-Uqûd published twice a year, in January and July. The journal will focus on providing quality research in the areas of Islamic economics, banking and finance. The goal of the journal is to cover topics that are paramount in modern Islamic economics and finance. The language used in the form of Indonesian and English. Editors invite research lecturers, the reviewer, practitioners, industry, and observers to contribute to this journal.
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Articles 10 Documents
Search results for , issue "Vol. 8 No. 1 (2024): January" : 10 Documents clear
Board of directors' effectiveness and operational risk disclosure on Indonesian Islamic bank performance: The mediating effect of sharia supervisory board quality Yulianti, Yulianti; Haribowo, Ismawati
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p1-13

Abstract

Islamic banks today offer several financial and investment options. Despite being designated as a "newcomer," Islamic banks in Indonesia are growing. Islamic banks in Indonesia require solid governance to boost their performance. This study investigates the effectiveness of the board of directors and the impact of operational risk disclosure on performance, using the Sharia supervisory board as a moderator. This study's population consists of Islamic banks in Indonesia that are listed on the Indonesia Stock Exchange between 2016 and 2020. This study uses the purposive sampling method. The criteria of sample selection is Islamic commercial banks in Indonesia publish yearly financial reports from 2016 to 2020 and have released financial statements using the rupiah currency unit. This study used a moderate regression test with the Minitab programme. This study result indicates that disclosing operational risk has a negative impact on performance. Furthermore, a skilled Sharia supervisory board can improve the disclosure of operational risk to the performance of Islamic banks.
Improving job performance in Islamic Universities through Islamic work ethics, spiritual values, and organisational commitment Hulaify, Akhmad; Al Hadi, M. Qoshid; Affandi, Muchammad Taufik
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p14-28

Abstract

According to organisational equilibrium theory, this research examines the role of organisational commitments in mediating Islamic work ethics and spiritual values on job performance in Islamic universities. This research used a sample frame of 93 lecturers from Islamic universities in Banjarmasin. Furthermore, the hypotheses were examined using SmartPLS version 3. The findings showed that organisational commitment successfully mediates the relationship between Islamic work ethic and spiritual values toward job performance. This result provides a better understanding of how the human resources department can explore motivation techniques to improve organisational outcomes, particularly organisational commitment. This research offers a significant advancement for organisational commitment research. This finding also attempts to make Islamic universities that encourage and manage their lecturers' performance becomes competitive universities in managing organisational culture.
Milenials consumer behavior and it’s influence on purchase decisions of halal cosmetic products Yudha, Ana Toni Roby Candra; Haryono, Slamet
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p83-95

Abstract

The stretching development of the global halal industry, including Indonesia, continues to receive consumers' attention. Among the many sectors that attract consumers' interest is cosmetics, especially with a halal label; product quality supported by promotions by public figures continues to encourage consumers' desire to use halal cosmetics. This study aims to confirm the influence of millennial consumer behavior on purchasing decisions for halal cosmetic products. A random confirmation process of the respondents accompanies this quantitative research method. There were 120 respondents who were dominated by women millennials, with the SmartPLS test tool and a Likert scale of degree 4. The research results were among the four independent variables. Halal labels and sales services had no effect, while product quality and consumer ratings affected purchasing decisions for halal cosmetics. At the confirmation level, it is known that halal labels and sales services get respondents' attention; even without knowledge about them, they immediately buy products because of brands, influencers, and friend recommendations. So, the halal label and sales service does not have a significant effect; instead, it is an attitude of 'ignorance' and is more due to brand or influencer education, as previously stated.
The impact of the covid-19 pandemic on the efficiency performance of Islamic Banks in Indonesia: A two-stage data envelopment analysis approach Marlina, Lina; Saepulloh, Asep; Dewi, Sinta Verawati
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p67-82

Abstract

Additionally, resilience to crises makes Islamic banking one of the leading solutions to overcoming the economic crisis. This research aims to analyse the level of performance of Islamic banking in Indonesia and determine factors, including the impact of the COVID-19 pandemic during the 2011-2022 period, using 11 Islamic commercial banks in Indonesia. The analysis method used is DEA Two Stage, with secondary data from the financial reports of each Islamic commercial bank. The input variables are fixed assets, labour costs, and third-party funds. The output variables are the amount of financing provided and operational income. The research results explain that no Islamic commercial banks in Indonesia achieved optimal efficiency during the research period. Then, the efficiency level of Islamic commercial banks in Indonesia fluctuated yearly during the research period. Furthermore, the COVID-19 pandemic has impacted the efficiency level of Islamic commercial banks in Indonesia. In the potential improvement analysis, know that the most significant source of inefficiency is the output variable: the amount of financing provided. The results of the benchmarking analysis found Islamic commercial banks with the most references, where the year most referred to was 2021-2022.
Driving Islamic work performance from transactional leadership and the mediation role of job satisfaction in sharia retails Prasetyo, Ari; Zakik, Zakik
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p29-41

Abstract

This research aims to analyse the influence of transactional leadership on Islamic work performance through job satisfaction at Sharia retails in Indonesia. The research method used is explanation (explanatory research). The research sample consisted of Sharia Retail employees, totalling 88 respondents. The independent variable used in the results of this study is transactional leadership. The intervening variable is job satisfaction. Dependent variable on Islamic work performance. Data collection techniques using questionnaires. The analysis technique used in this research is PLS structural equation modelling. The research results show a direct influence of transactional leadership on Islamic work performance, and transactional leadership indirectly influences Islamic work performance through job satisfaction at Sharia retail. The indirect influence of transactional leadership on Islamic work performance shows that there is a direct influence of transactional leadership on job satisfaction, and job satisfaction also influences Islamic work performance.
Sharia governance and corporate social responsibility as instruments to achieve asean food vision 2025 Katamsi, Etom; Afif, Ahmad; Sabbahatun, Sri; Amalia, Euis; Mufraini, M. Arief; Hasan, Asyari
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p56-66

Abstract

This study aims to identify strategies to achieve the ASEAN 2025 vision in the agriculture sector using sharia governance and Corporate Social Responsibility (CSR) schemes. Therefore, this research will use a mixed method for data analysis. The sample is from Islamic banking in Indonesia, Malaysia, and Singapore. In addition, the dependent variable is taken from ASEAN agriculture statistics for 2018-2022. The results have explained that CSR indicators from the Islamic Social Reporting theory in the agriculture sector are widely developed in Indonesia. It is also supported by Law No. 4 of 2023 on P2SK in formulating changes in the role of sharia governance and CSR. In addition, financial, product, employee, community, and environmental indicators need to be further improved by Islamic banking through additional distribution in financing and investment in the agriculture sector. There are several policy recommendations for all ASEAN stakeholders and Islamic banking. ASEAN countries need to focus their economic vision on the agriculture sector. In addition, Islamic banking in ASEAN countries can implement sharia governance and CSR schemes in corporate governance and economic policies. Therefore, it must also be supported by good governance in the Sharia governance scheme.
Shaping financial futures: How does quran surah Yusuf discuss the instruments of the state financial policy? Berkah, Dian; Widiastuti, Tika; Atiya, Nikmatul
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p42-55

Abstract

This research presents an in-depth analysis of state financial policy, taking inspiration from the interpretation of the Prophet Yusuf's dream immortalised in Surah Yusuf. Using a qualitative approach and a literature review method that combines tafsir bi al ma'tsur and tafsir bi ra'yi, this research discusses each verse in detail, exploring the relevance of the findings to current scientific developments. The main findings include the seven-year cycle, the basis for formulating state financial policies, instruments based on food security strategies, and the determining phases for a country that can prosper or decline. This conclusion underlines the importance of the first and second cycles as policy foundations that should be addressed, opening new insights into understanding and designing state financial policies.
Trust, waqf literacy and cash waqf intention in Islamic boarding schools: A theory of planned behavior Qomar, Moh. Nurul; Ratnasari, Ririn Tri; Hasyim, Fuad; Hidayati,; Putra, Trisno Wardy
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p109-123

Abstract

This research aimed to explore the factors influencing individuals' inclination to contribute funds as waqf to Islamic boarding schools in Indonesia. Additionally, the Theory of Planned Behaviour (TPB) was used as the conceptual framework to analyse human behaviour. In this context, trust and waqf literacy were evaluated and identified as determinants of cash waqf intention. The partial least squares structural equation modelling (PLS-SEM) method was used to completely analyse and assess the model. Meanwhile, the questionnaires were distributed electronically to 436 respondents in Indonesia. The results showed that subjective norms, trust, and waqf literacy had a direct effect on attitudes. However, these variables did not have a direct impact on the intention to donate cash waqf in Islamic boarding schools. Attitudes did not influence the intention to donate cash waqf while perceived behavioural control (PBC) had a substantial impact on the variable.
Sustainable development and Islamic philanthropy: Synergy of zakat and SDGs Arwani, Agus; Muhammad, Rifqi; Mahmudi, Mahmudi
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/al-uqud.v8n1.p124-160

Abstract

The research aims to explore the synergy between Zakat as a form of Islamic philanthropy and the Sustainable Development Goals (SDGs), which include economic, social and environmental dimensions, to meet the needs of the current generation without compromising the capabilities of future generations. Using a Systematic Literature Review (SLR) approach, this research analyses relevant literature to understand the potential and obstacles to integrating Zakat with sustainable development. Research findings show that Zakat can accelerate poverty alleviation, improve access and quality of education, and fund health programs which align with several SDG targets. However, challenges faced in zakat integration include less positive public perceptions, regulations that still need optimisation, and gaps in zakat management practices. The implications of these findings show that to optimise Zakat's contribution to achieving the SDGs, increased governance, transparency, and cross-sector collaboration are needed. This research provides valuable insights for policymakers, zakat practitioners, and other interested parties to design more effective strategies for utilising Zakat as the primary driver of achieving the SDGs.
Islamic leadership and other external factors in improving the career path of lecturers Rovian, Ivan; Widati, Sri
al-Uqud : Journal of Islamic Economics Vol. 8 No. 1 (2024): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.26740/aluqud.v8n1.p96-108

Abstract

The previous research studies conducted in East Java stated that there is a tendency for University lecturers to improve their career paths, especially those who have lecturer certification, due to the influence of lecturer behaviour, lecturer personal problems, lack of institutional facilities and information systems, and less supportive technology. This research concerns the creation of excellent quality and professional human resources. This study examines the impact of Islamic leadership encouragement, peer encouragement, availability of facilities, organizational policies, type of university, and demographic factors on lecturers' career paths. The research method uses quantitative SPSS with 345 respondents from five universities in East Java. Results showed that Islamic leadership encouragement, availability of facilities, organizational policies, type of university, and age were significant factors in improving lecturers' career paths. In contrast, gender factors did not significantly influence lecturers' career paths. This research brings some implications for University regulators and leaders regarding treatments that could be pushed to improve lecturer career paths in East Java Province.

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