cover
Contact Name
-
Contact Email
-
Phone
-
Journal Mail Official
jurnal.al-uqud@unesa.ac.id
Editorial Address
campus Ketintang Surabaya 60231
Location
Kota surabaya,
Jawa timur
INDONESIA
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.
Arjuna Subject : -
Articles 205 Documents
Factors Affecting Tourist Interest on Sharia Tourism Popon Srisusilawati
al-Uqud : Journal of Islamic Economics Vol. 4 No. 2 (2020): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (264.371 KB) | DOI: 10.26740/al-uqud.v4n2.p200-207

Abstract

Sharia tourism is part of the halal industry which becomes one of the major supporters of the sharia economy in Indonesia. Nevertheless, since 2011, the city of Bandung as the epicentrum of sharia tourism experienced a decreasing number of visitors. The purpose of this study is to analyze the factors that influence tourist interest in visiting sharia tourism destinations. The research method is quantitative. The results of this study indicate that service, safety, and tourism influence tourist interest. The safety and promotion factors significantly influence tourist interest in visiting Sharia tourism, while service has no significant effect on tourist interest.
Revisiting Green Marketing Implementation in Halal Cosmetic Brands Ika Diyah Candra Arifah
al-Uqud : Journal of Islamic Economics Vol. 4 No. 2 (2020): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (494.586 KB) | DOI: 10.26740/al-uqud.v4n2.p285-306

Abstract

The growing green consumer who selecting products that socially and environmentally ethical products, encourages cosmetics producers in Indonesia to produce more environmentally friendly product in terms of materials, ingredients, packaging, and even the strategy to promote it. As this market segment continues to grow and develop, cosmetics manufacturers are required to be more competitive by applying green marketing values. Therefore, this study aims to investigate how halal cosmetic brands applying green marketing based on the concept of green marketing strategy and Islamic Marketing Ethics (IME). This case study uses a qualitative research approach that selecting four top halal cosmetic brands that marketed in Indonesia. Data was analyzed by data triangulation and method triangulation approach and presented in inductive summary. The results of the study concluded that among the top four halal cosmetics brands studied, two brands had implemented the concept of green marketing strategy and implementation comprehensively (shaded green and extreme green), while the other two brands applied lean green and defensive marketing strategy and implementation. The implication of this research is to provide suggestion to managerial marketing about how to create a more captivating halal products for all customers. The novelty of research proposes how is the level of Indonesian halal cosmetic brands green strategy that applying Islamic Marketing Ethics (IME).
Capital Structure Determinants of Shariah-Compliant Firms: Evidence from the MENA Region Abdessamad Raghibi; Lahsen Oubdi
al-Uqud : Journal of Islamic Economics Vol. 5 No. 1 (2021): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (648.477 KB) | DOI: 10.26740/al-uqud.v5n1.p16-28

Abstract

Capital structure choice is vital in corporate financial management due to its effect on both investors' risk and return. Despite the various research that has investigated factors affecting the capital structure of companies, only a few studies have started to examine the capital structure of Shari'ah-compliant companies, especially in the MENA region. Indeed, the screening requirements for which shari'ah-compliant must adhere can affect their capital structure determinants. Hence, under those conditions, this study aims to determine the factors influencing the capital structure of a shari'ah-compliant listed firm in five MENA region countries. The importance of investigating shariah-complaint companies capital structure emanates from the financial constraints on their debt capital structure. Accordingly, this study utilizes static panel data techniques on a sample consisting of Shari'ah-compliant firms over the period 20102018. The findings of this study were consistent with several previous studies as well as the theoretical background of capital structure determinants mainly, the trade-off and the pecking order theory. Our results give insight to managers on what determines their capital structure under shari'ah screening methodologies. However, more insight can be drought from the capital structure of shari'ah-compliant firms by extending the research into industry specifics.
The Malaysian Fund Managers Perspective on the Viability of Takaful Operators Investment Amirul Afif Muhamat; Mohamad Nizam Jaafar; Norzitah Abdul Karim; Azreen Roslan; Mohd Faizal Basri
al-Uqud : Journal of Islamic Economics Vol. 4 No. 2 (2020): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (450.202 KB) | DOI: 10.26740/al-uqud.v4n2.p250-267

Abstract

Takaful operators are expected by the policyholders to act beyond the role of traditional insurance companies that only offer Shariah-compliant protection services. They are expected to be commercially viable. One of the ways to be commercially viable is takaful operators must be able to invest the policyholders' funds in the profitable investment avenues. Nevertheless, the critical issue before investing the funds is to develop products that are suitable with the takaful operators' investment strategy. This study employed a questionnaire survey to gather the feedback of fund managers from 11 takaful operators in Malaysia ” all were the senior staffs of takaful operators in Malaysia were surveyed. The questionnaire is developed in the form of a Likert scale ranging from 1 to 5 as the research instrument. By Delphi technique, the draft of the questionnaire was sent to a panel of experts for review, was adopted, and their feedback reflected in the final questionnaire. The experts were a shariah advisor, a corporate finance manager, and a senior executive at the central bank. Findings indicate that policyholders' expectations on their investments are met and the products so far compatible with takaful operators' investment strategies.
Takaful Scheme for Mental Health Disorders: A Systematic Literature Review Khairil Faizal Khairi; Nur Hidayah Laili; Aimi Fadzirul Kamarubahrin
al-Uqud : Journal of Islamic Economics Vol. 5 No. 1 (2021): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (298.518 KB) | DOI: 10.26740/al-uqud.v5n1.p29-42

Abstract

Wealth management involved cycles which are wealth creation, wealth protection, wealth distribution, wealth purification, and wealth accumulation that must in line with the financial objectives of the individual through their life. The current study is focused on the wealth protection element which a takaful scheme for mental health disorders. However, little was known about it. Thus, the objective of this systematic review was to synthesize findings of trend and population-based studies on takaful scheme for mental health disorders. The aim was to presents an extensive systematic review of takaful schemes for mental health disorders. A systematic review was identified using electronic database searches (Google, PubMed, and Scopus), previous reviews and reference lists to identify articles published between 2010 and 2020. Narrative synthesis and systematic review were performed and reported according to the preferred reporting items statement. The current evidence showed there is less study on takaful schemes for mental health disorders in the period 2010 to 2020. The two main contributions of this paper are its use of a readily-available and powerful new instrument, and its use of extremely large data which gives us the power to takaful scheme for mental health disorders for disaggregated health care services. More good quality of systematic literature with comparable assessment tools is needed. 
Revisiting the Idealism of Syariah Audit for Islamic Financial Institutions Ratna Mulyany; Hafas Furqani; Shahul Hameed Mohamed Ibrahim; Manal Mohammed Hamoudah
al-Uqud : Journal of Islamic Economics Vol. 5 No. 2 (2021): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (318.68 KB) | DOI: 10.26740/al-uqud.v5n2.p184-202

Abstract

The rapid development of syariah audit goes hand in hand with demands for governance of syariah compliance that promotes accountability and transparency. From its inception, syariah audit as a concept has been interpreted and practiced from various perspectives. This research aims to conceptually revisit the ideal conception of syariah audit by looking back at its root, discussing the emergence, meaning, characteristics, and issues of syariah audit. This study demonstrates the need for more holistic development of the conceptual framework for the syariah audit. It consists of defining subject appropriately, standardising the qualification and competence requirements for syariah certified auditors, regulating who should appoint syariah auditors, identifying the scope and extent of syariah audit, establishing the regulatory body forsyariah audit, and enforcing the dedicated standards for syariah audit. 
Do Indonesian Islamic Microfinance Institutions Need Lender of the Last Resort? Imron Mawardi; Tika Widiastuti; Muhammad Ubaidillah Al Mustofa; Ari Prasetyo
al-Uqud : Journal of Islamic Economics Vol. 4 No. 2 (2020): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (288.251 KB) | DOI: 10.26740/al-uqud.v4n2.p235-249

Abstract

Liquidity risk is one of significant risk managed by financial intermediaries including Islamic Microfinance Institutions (IMFIs). The financial intermediaries accept short-term deposits and disburse these deposits in the form of long-term loans. This situation makes IMFI desperately need a lender of last resort (LOLR). Nevertheless, there has been no formal LOLR for Indonesian IMFIs. This study intends to construct the LOLR model for IMFI in Indonesia. This qualitative study applies a case study analysis. This study's subjects are IMFIs in East Java Province that was selected purposively with thirty managers as the key informants. Research findings show that the best model of LOLR is developing a secondary cooperative since the majority form of IMFIs in Indonesia are cooperative entities. With all members of a secondary cooperative deposit for reserve requirements, they can place excess liquidity in the secondary cooperative and ask for financial support.
Halal Tourism Based on Value Creation Ririn Tri Ratnasari
al-Uqud : Journal of Islamic Economics Vol. 4 No. 2 (2020): July
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (326.745 KB) | DOI: 10.26740/al-uqud.v4n2.p268-284

Abstract

Nowadays, halal tourism product is not only focused on Muslim tourists, but also non-Muslim one. The halal tourism industry needs to develop the people understanding of halal values in order to bring benefits to consumers through recognition of the tourism management potency as well as the need of value identification. This research aimed to develop value-based tourism, identify the value types, as well as create value as the basis for managing lawful tourism, which needs a model to facilitate recognizion of the tourism product excellence. This research used qualitative case study approach, with the head of tourism in the region where has potency to implement Islamic Marketing Concept as the key informants. The result showed that halal marketing included not only about product but also about pricing, promotion, and place. Muslim consumers were keen on tourism services that implement lawful approach. Furthermore, there were ten values of tourism in Indonesia e.g. Religious Tourism, Geo Tourism, Natural Tourism, Fashion Tourism, Culinary Tourism, Medical Tourism, Historical Tourism, Sport Tourism, Culture Tourism, and Hospitality Tourism.
Islamic Philanthropy and Covid-19 Pandemic Crisis: The Socio-Economic Role of Nahdhatul Ulama Zainal Abidin
al-Uqud : Journal of Islamic Economics Vol. 5 No. 1 (2021): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (312.236 KB) | DOI: 10.26740/al-uqud.v5n1.p166-183

Abstract

Coronavirus has evolved into a global pandemic. The virus, which was first discovered in Wuhan in China, has quickly and massively spread throughout the world, and it has even paralyzed global socio-economic activities. In Indonesia, the Covid-19 pandemic first appeared in Jakarta. In a few days, it spread to all regions and islands, including Madura, one of East Java islands with a strict, strong religious scent and has considerable respect to religious structures and symbols, like the Islamic organization Nahdhatul Ulama' (NU). This study examined this Islamic organizations' socio-economic role in Covid-19 countermeasures through philanthropic activities. This qualitative study uses primary data and secondary data. This study describes how NU implements its socio-economic role in mitigating the spread of Covid-19 pandemic in Madura through philanthropic activities. 
Comparative Analysis of Customer Loyalty in Islamic and Conventional Banks: A Literature Review Rokhmat Subagiyo; Burhan Djamaluddin; Muhamad Ahsan
al-Uqud : Journal of Islamic Economics Vol. 5 No. 1 (2021): January
Publisher : Universitas Negeri Surabaya

Show Abstract | Download Original | Original Source | Check in Google Scholar | Full PDF (362.593 KB) | DOI: 10.26740/al-uqud.v5n1.p97-118

Abstract

This paper aims to analyze customer loyalty to Islamic banks and conventional banks through variables studied from previous research. This study used a qualitative approach to research literature, with data collected from reputable international journal articles indexed Q3 to Q1 and nationally accredited Sinta 3 to Sinta 2. This study examines 55 selected articles about customer loyalty from 1998-2019. The analysis results show that the independent variables, moderating variables, and intervening variables in determining customer loyalty to Islamic banks and conventional banks overlap (have similarities).