Al-Muzara'ah
Al-Muzara'ah –Journal of Islamic Economics and Finance, is a collaborative journal of the Department of Islamic Economics, Bogor Agricultural University with the Indonesian Association of Islamic Economist (IAEI). The aim of the journal is to communicate and as the media of academic socialization by providing a platform for publication of research in the fields of Islamic economics, finance, microfinance, banking, insurance, halal industry, social finance and poverty alleviation, law and sharia issues in economics and finance, capital market, and other topics related to this area.
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183 Documents
<![CDATA[Produk Roti dalam Pola Konsumsi Pangan dan Keberadaan Label Halal dalam Keputusan Konsumsi Masyarakat (Kasus: Kota Bogor) ]]>
<![CDATA[Silmy Kania Rizka]]>;
<![CDATA[Yeti Lis Purnamadewi]]>;
<![CDATA[Neneng Hasanah]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 1 (2018): AL-MUZARA'AH (June 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.1.15-27
<![CDATA[The pattern of bread consumption has increased significantly compared to the increase in the average in rice consumption. However, the increase in bread consumption was not balanced by the increase in the producers’ awareness to have halal certificate. Meanwhile, halal certified products are only about 11.6% of the total existing products in Indonesia. For this reason, this study aims to analyze the consumption pattern of bread products, consumer’s perceptions of the halal labels and their influence on the decision to purchase halal-labeled bread products , and factors that influence the decision. The method used in this research are logistic regression and qualitative descriptive. The results of the analysis shows that bread products are the second source of carbohydrates after rice and the higher the income class have a higher level of bread product consumption. Based on the consumer’s perception, the existence of the halal label in packaging of bread products is a main consideration in the decision of purchasing bread products for most of households consumers, but the perception and a fact of the purchasing have not been consistent. The results of the logistic regression analysis shows that the variable of halal awareness, duration of education, dummy of origin area, and dummy of lower income class significantly affect the decision of bread products consumption.]]>
<![CDATA[Faktor-faktor yang Memengaruhi Keberhasilan Usaha Mustahik pada Program Zakat Produktif di LAZ An-Nuur ]]>
<![CDATA[Hardinata Muhammad]]>;
<![CDATA[Deni Lubis]]>;
<![CDATA[Dedi Budiman Hakim]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 1 (2018): AL-MUZARA'AH (June 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.1.1-14
<![CDATA[The high level of poverty in Indonesia becomes one of the problems that have not been successfully overcame by the government. Bogor Regency is the district with the poorest population in West Java Province in 2016. Many programs have been undertaken to overcome these problems by government of Bogor Regency. One of them is by optimizing the utilization of productive zakat conducted by Lembaga Amil Zakat (LAZ). LAZ An-Nuur established mustahik empowerment program by providing productive zakat in the form of financing for entrepreneurship. This study aims to analyze the factors that influence the success of a mustahik’s business in utilizing the productive zakat given by LAZ An-Nuur. The method used in this research is descriptive analysis and logistic regression analysis. Respondents in this study consisted of 48 beneficiaries of productive zakat funds. The results show that the factors that proved to influence the success of LAZ An-Nuur mustahik’s business are the age, length of business, business profits, and the frequency of financing.]]>
<![CDATA[Dampak Kondisi Makroekonomi terhadap Deposito Perbankan Syariah di Indonesia ]]>
<![CDATA[Zaki Abdullah]]>;
<![CDATA[Iman Sugema]]>;
<![CDATA[Asep Nurhalim]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 1 (2018): AL-MUZARA'AH (June 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.1.29-39
<![CDATA[Changes in macroeconomic conditions have an impact towards financial industry, particularly in the banking industry. This research aims to look at the impact of global financial crisis and macreconomic variables towards the total deposits of Islamic banking in Indonesia with the VECM method. The period of this study using monthly data from January 2006 until December 2016. The results showed that the global financial crisis has no effect towards the total deposits of Islamic banking in Indonesia. Then, based on the analysis of Impulse Response Function (IRF), the response of total deposits of Islamic banking in Indonesia towards inflation, equivalent rate and lending rate is positive. While the shocks level of conventional banking interest rate and industrial growth is negatively responded by total deposits in Islamic banking. The Forecast Error Variance Decomposition (FEVD) analysis results showed that equivalent rate and interest rate offered by each banking system give most contributed among other variables.]]>
<![CDATA[Analisis Prioritas Solusi Permasalahan Pengelolaan Wakaf Produktif (Studi Kasus Kabupaten Banjarnegara) ]]>
<![CDATA[Resfa Fitri]]>;
<![CDATA[Heni P Wilantoro]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 1 (2018): AL-MUZARA'AH (June 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.1.41-59
<![CDATA[Waqf is one of the instruments in Islamic economics that can be used for development funding. In addition, waqf is also very potential to improve people’s welfare. In essence, the waqf is a matter that should be productively managed as contained in the hadith. However, it is currently in the opposite state. This study analyzes the priority of problems and solutions to optimize the management of waqf assets in Banjarnegara Regency, one of regencies in Central Java with highest poverty rate. Analytic Network Process (ANP) is the method used in this study. The result of the research shows that the main priority of human resource problem is the low managerial ability of the nazhir. The priority of institutional problem is the role of BWI Banjarnegara that is not yet optimal, while the priority of the government problem is the lack of support and role of the government. The priority solution of the most important problem is coaching and mentoring for nazhir.]]>
<![CDATA[Analisis Pengaruh Faktor Non-Ekonomi terhadap Sikap Pedagang Madura dalam Membayar Zakat Perdagangan ]]>
<![CDATA[Nely Novia]]>;
<![CDATA[Iswan Noor]]>;
<![CDATA[Marlina Ekawaty]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 1 (2018): AL-MUZARA'AH (June 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.1.61-76
<![CDATA[Zakah maal is one of the kind of zakat that must be paid by muslims who work as traders and have the treasures that reach nisab, haul, and also fulfill other conditions. The purpose of this research is to know the influence of non-economic factors namely knowledge of zakah on trade (X1), work environment (X2), religiosity (X3), and education (X4) on the attitudes of Madurese traders in Malang in paying zakah on trade (Y). The method used in this study is multinomial logit analysis. The results of this study indicate that simultaneously the knowledge (X1), work environment (X2), religiosity (X3), and education (X4) significantly influence the attitude of Madurese traders in paying zakah on trade (Y). Further partially, Madurese traders' attitude in paying zakah on trade (Y) is influenced by knowledge (X1), work environment (X2), religiosity (X3), and education (X4).]]>
<![CDATA[Movements of Islamic Stock Indices in Selected OIC Countries ]]>
<![CDATA[Rininta Nurrachmi]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 2 (2018): AL-MUZARA'AH (December 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.2.77-90
<![CDATA[This study reviews the movement of Islamic stock indices in selected countries in the Organization of Islamic Cooperation (OIC) with high number of muslim population namely Indonesia, Malaysia, Turkey, Qatar, Bahrain, and Oman. The objectives are to examine the changes in cross market linkage among six selected OIC countries during crisis and after 2007 crisis and to analyze whether the international investor can gain benefit when allocating their funds across these markets. The set of relationship for each pair of Islamic stock index is analyzed using Engel-Granger (1987) and Autoregressive Distribution Lagged (ARDL) bound testing approach. The analysis is made for the sub period during crisis is 3 September 2007 – 11 January 2010 and post crisis is 18 January 2010 – 30 April 2013. The result depicts that there are evidences of cointegration among the Islamic stock markets after crisis but not during crisis. The long-run relationship indicates that investors can gain portfolio diversification benefit across these six countries.]]>
<![CDATA[Viability of Muzara’ah Contract on Agro-financing in Alleviating Rural Poverty in Kano State, Nigeria ]]>
<![CDATA[Bello Sani Yahuza]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 2 (2018): AL-MUZARA'AH (December 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.2.91-102
<![CDATA[The problems of inadequate sources of financing agriculture and scarcity of credit facilities to rural farmers due to interest rate and lack of collateral or guarantor to secure loans thus, many lands become fallow especially in dry season; this adversely affects the entire yield in the rural areas. Aims to assess the viability of Muzara’ah in providing sources of agro-financing and alleviating rural poverty, the study conducted in Kura LGA Kano State, adopted quantitative survey method, 152 samples out of 250 registered farmers were used as guided by Krejcie & Morgan 1970, using random sampling, questionnaire for data collection and chi-square test for goodness of fit for analysis. The paper finds the viability of muzara’ah in providing sources of agro-financing very significant as it seeks to bridge the gap that exists between the deficit and surplus landowners where the latter offered his surplus land to the former and employ his labor to till the land and share the yield on a pre-agreed ratio. The paper suggests the proper implementation of muzara’ah to cultivate more lands, generate job creation, increase farmers income earning and enhance food security which in turn alleviates rural poverty.]]>
<![CDATA[Pengungkapan Islamic Social Reporting pada Perusahaan di Jakarta Islamic Index ]]>
<![CDATA[Khaerun Nissa Rizfani]]>;
<![CDATA[Deni Lubis]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 2 (2018): AL-MUZARA'AH (December 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.2.103-116
<![CDATA[Islamic Social Reporting (ISR) is a benchmark for reporting Islamic-based social performance to companies. However, the development of ISR is currently not growing rapidly in Indonesia because there are no regulations that regulate sharia social responsibility reporting standards. Increased disclosure of Islamic social performance is expected to influence the decisions of muslim investors in choosing sharia shares in companies listed in the Jakarta Islamic Index. This study aims to analyze corporate social responsibility (CSR) disclosures in sharia and the factors that influence them. The data used are annual reports of companies registered in JII from 2012 to 2015, 14 of which were selected from 30 companies. The method used in this study is panel data regression with the fixed effect model (FEM) approach. The results of the analysis show that of the five variables that allegedly influence the level of ISR disclosure, three variables, namely company size have a positive effect, firm age and leverage have a significant negative effect on ISR disclosure. The other two variables, namely the number of board of commissioners and profitability have no effect on ISR disclosure.]]>
<![CDATA[Bagaimana Mengembangkan Industri Fintech Syariah di Indonesia? Pendekatan Interpretive Structural Model (ISM) ]]>
<![CDATA[Aam Slamet Rusydiana]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 2 (2018): AL-MUZARA'AH (December 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.2.117-128
<![CDATA[Fintech in Indonesia is an untapped market opportunity. As a country with the largest muslim population in the world, the prospect of Islamic fintech in Indonesia is very good. This study tries to answer the problems that occur, strategy, and stakeholders involved in developing Islamic fintech in Indonesia using the Interpretive Structural Model (ISM) approach. The core problem faced in developing the Islamic finance technology industry is the lack of policy instruments that maintain the work process of fintech and the availability of human resources for fintech. The strategy needed in the framework of developing Islamic fintech is the ability to manage and analyze data in the big data era and human resources in digital marketing. For ecosystem aspects or actors involved in developing Islamic fintech in Indonesia, important actors include government or regulators, educational institutions (universities), as well as existing industries (banks and other financial institutions). ]]>
<![CDATA[Literature Review Filantropi Islam antara Tahun 2008 hingga 2018 ]]>
<![CDATA[Aris Puji Purwatiningsih]]>;
<![CDATA[Muchlis Yahya]]>
<![CDATA[ AL-MUZARA'AH Vol. 6 No. 2 (2018): AL-MUZARA'AH (December 2018) ]]>
Publisher : <![CDATA[Department of Islamic Economics, IPB University ]]>
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DOI: 10.29244/jam.6.2.129-138
<![CDATA[The author is interested in reviewing Islamic philanthropic literature between 2008 and 2018 because Islamic philanthropic behavior is found in any community, from the scope of the poorest countries to even the developed world. In addition, Islamic philanthropy is an object of study that has been widely studied in the social and economic fields. Articles about Islamic philanthropy were obtained using the zakat keyword on Emerald Insight between 2008 and 2018. The search results of 37 articles were then grouped into six topics discussing management, CSR, philanthropy, poverty, charity, religion, distribution, and collection. The findings show that Islamic philanthropy is a topic that is widely discussed by economists and researchers both muslim and non muslim. This is because Islamic philanthropy is the most realistic way to reduce poverty and social inequality today. However, the lack of optimal management of potential Islamic philanthropic funds has hampered the achievement of this goal.]]>
