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El-Barka: Journal of Islamic Economics and Business
Published by Institut Agama Islam Negeri Ponorogo
ISSN : 26571153     EISSN : 26571862     DOI : -
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
El Barka is a semiannual journal published by the Faculty of Islamic Economics and Business IAIN Ponorogo and cooperate with Ikatan Ahli Ekonomi Islam Indonesia (IAEI). El Barka accepts original scientific writings that have never been published in the field of economics, islamics economics and business, including conceptual thoughts, research reports, case reports, application of theory, critical studies and literature reviews.
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Articles 7 Documents
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Search results for , issue "Vol. 8 No. 1 (2025)" : 7 Documents clear
Green Banking Dislocure Index: Unlocking Profitability Potential in Indonesia’s Islamic Commercial Banking Hunafaa Al Qudsy, Naahilah; Haryadi, Imam; Prasetyo, Bangun Luhur
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 1 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i1.10345

Abstract

Green banking, which emphasizes sustainability and environmentally responsible financing, has attracted significant global attention, yet its adoption faces challenges, particularly in emerging economies such as Indonesia. This study examines the impact of green banking on the profitability of Islamic commercial banks in Indonesia. This research utilizes secondary data sourced from the Financial Services Authority and annual reports of nine Islamic commercial banks in Indonesia, spanning the 2019-2022 period. Profitability is measured using Return on Assets (ROA), while the Green Banking Disclosure Index (GDBI) is employed to assess the extent of green banking implementation. The findings suggest that while green banking initiatives contribute to long-term sustainability, they do not exhibit a significant short-term impact on profitability. In contrast, the number of ATM units has a positive and statistically significant effect on profitability, primarily driven by increased fee-based income. The research advocates for enhancing green banking practices, particularly in the areas of carbon emissions management and waste recycling, and recommends that regulatory bodies strengthen policies to incentivize the adoption of environmentally sustainable banking practices. Additionally, improving sustainability reporting is essential for aligning with global sustainability objectives and fostering long-term profitability.
Influencer Marketing Strategy in Sharia Marketing: A Review from the Perspective of Ethics and Sharia Values Suraya, Ismi; Zulfikar, Faisal
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 1 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i1.11301

Abstract

A common form of digital marketing today involves promoting products through influencer marketing strategies, carried out by individuals known as influencers. However, the application of influencer marketing often fails to align with Islamic ethical values, as seen in the lack of transparency or honesty, promotion of non-halal products, inadequate product descriptions, exaggerated claims, and the inappropriate appearance or attire of some influencers. These issues can lead to legal disputes and leave consumers feeling harmed. Therefore, clear guidance on the ethical conduct and behavior of influencers is essential. This study applies the Stimulus-Organism-Response (S-O-R) theory and uses a qualitative method with a descriptive approach. The data is composed of written words drawn from in-depth phenomena within the relevant context. Secondary data sources include books, academic journals, websites, and online resources. The findings reveal that influencer marketing is effective in building trust and enhancing marketing outcomes. Its effectiveness increases when aligned with sharia principles, such as honesty, transparency, and the promotion of halal and beneficial products. Consumer responses are heavily influenced by the ethics and values demonstrated by the influencer. Hence, in sharia-based marketing, influencers serve not only as promotional agents but also as representatives of Islamic values, contributing to transactions that yield not just economic benefits but also positive social and spiritual impacts.
Exploring the Contribution of Green Sukuk in Achieving Sustainable Development Goals (SDGs) (Case Study of Malaysia and Indonesia) Ziarmal, Abdullah
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 1 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i1.11714

Abstract

The purpose is this study is to illustrate green sukuk and analyze the role of green sukuk in achieving of sustainable development goals (SDGs) based on the relevant projects of Indonesia and Malaysia. The research methodology used for this study is descriptive based qualitative. Data has taken from the various sources such as annual reports, articles, books, websites and etc. Findings of this study indicates that green sukuk markets in both Malaysia and Indonesia are the symbols of huge commitment to the governments of Malaysia and Indonesia in term of contribution and getting close to the targets to the sustainability specified and selected by United Nations an agenda until 2030. Various projects such, renewable energy, waste management, reducing disasters and floods risks, low carbon transport, sustainable cities have been funding through green sukuk in both Malaysia, and Indonesia. This study results also indicates that in the global market of green sukuk Indonesia is ranking toped with the 2/5 of market cap. On the other hand, Malaysia is leading in green sukuk issuance based on owing 57% of issuers in the market. In term of practical implication, this study will be a roadmap for the next people who wants to illustrate the role of green sukuk in their respective countries. Furthermore, this will be a meaningful study for the researchers of those countries that lack green financing such as Afghanistan and others, they will be use this article as a guide article during conducting their own. This study can also help public regarding transferring the concept and theory of sukuk, green sukuk, and SDGs. Top of Form
Efficiency of Bank-Linked Zakat Institutions in Indonesia: A DEA Approach Nisak, Khoirun; Najib, M. Thoha Ainun; Setyowati, Endah
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 1 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i1.11754

Abstract

The remarkable potential of zakat in Indonesia has not been fully realized due to an optimal collection rate, necessitating more efficient management. One strategic step is the integration of zakat institutions with banking to leverage the network, technology, and governance of banks in enhancing the collection and distribution of zakat. However, the efficiency performance of zakat institutions affiliated with banks is still rarely studied using a quantitative approach. This study aims to measure the efficiency of zakat management institutions affiliated with banks in Indonesia and compare their performance using the Data Envelopment Analysis (DEA) method. This research utilizes data from the period 2017–2023, with the unit of analysis being two bank zakat institutions: Baitul Maal Muamalat (BMM) and YBM BRILiaN. Input variables include annual salaries, operational costs, and socialization costs, while output variables consist of collected and distributed zakat funds. The analysis was conducted using the DEA BCC (Banker, Charnes, Cooper) and CCR (Charnes, Cooper, Rhodes) models to identify technical and scale efficiency. The research results show that Baitul Maal Muamalat (BMM) was only at an optimal efficiency level during the 2017–2019 period, while its performance declined in the 2020–2022 period. On the other hand, YBM BRILiaN consistently achieved full efficiency throughout 2021–2023. These findings provide an empirical basis for managerial improvements and the strengthening of the capacity of bank zakat institutions, while also reinforcing the integration of zakat with the banking system in Indonesia.
Religiosity, Socio-Economics, and Entrepreneurial Spirit in the Global Muslim Community Herianto; Nurhidaya; Ahmad, Amar; Jaman, Najma
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 1 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i1.11852

Abstract

Entrepreneurship is one of the key drivers of prosperity and economic growth in a country. However, in the 21st century, Muslim entrepreneurs appear to lag behind their non-Muslim counterparts. According to Forbes World’s Billionaires List (2021), of the 1,826 global billionaires, the majority are non-Muslim entrepreneurs, while Muslim entrepreneurs are represented only at ranks 191 and 288. This study uses data from the World Bank and the World Values Survey (2010–2021), analyzed through a quantitative approach using a logistic regression model. The results show that among the six indicators of religiosity, only three dimensions have a significant influence on entrepreneurial spirit. Regarding socio-economic conditions, only marital status and income level demonstrate a significant positive effect on entrepreneurship among Muslim communities. The study concludes that married Muslims with higher income levels, who are diligent in prayer and strongly believe in the importance of God and religion in life, tend to have greater enthusiasm and motivation to engage in entrepreneurship. These findings are expected to serve as valuable input for both government and private stakeholders in formulating policies aimed at fostering entrepreneurship within Muslim societies.
The Role of Zakat on Economic Growth: Modification of the Mathematical Model from an Islamic Economic Perspective Yusuf, Muhammad Zulfikar
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 1 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i1.11949

Abstract

Zakat is seen as a financial instrument that minimizes economic inequality and distributes wealth from the rich to the poor and needy. Empirical facts show that zakat can stimulate economic growth, increase consumption, investment and government spending. However, the role of zakat variable is often overlooked, especially in the context of mathematical model of economic growth. Therefore, this research seeks to evaluate the mathematical model of economic growth and modify it by involving zakat variable. It is important to conduct this research to measure the socio-economic impacts produced by zakat and analyze economic growth more comprehensively. The method used in this research is conceptual approach with library research. This research offers a mathematical model involving zakat variable in economic growth. The model offered is Y = C + I + G + Z + (X – M), where Z is the zakat. Thus, adding zakat variable to the mathematical model needs to be implemented to read economic dynamics comprehensively, especially in Muslim majority country such as Indonesia. The implications of this research play an important role in providing decision recommendations for policymakers and zakat institutions.
The Integration of Islamic Social Finance Towards Accelerating Economic Development in Malaysia Mahadi, Nur Farhah
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 1 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i1.12042

Abstract

This study constructs a comprehensive framework for an integrated Islamic social finance model in Malaysia, exploring how instruments like zakāt, waqf, Islamic microfinance, and Islamic crowdfunding (e.g. ṣadaqah, infāq, and hibah) rooted in principles of Maqāṣid al-Sharīʽah can accelerate Malaysian economic development and foster a prosperous and inclusive society by aligning with key national blueprints such as the Shared Prosperity Vision 2030, Twelfth Malaysia Plan (12MP),  and the MADANI Economy framework. This study adopts a qualitative approach, it undertakes a comprehensive desk-based review of academic and institutional literature to perform a thematic and content analysis, aiming to construct a conceptual framework for an integrated Islamic social finance system in Malaysia and propose its application to accelerate economic development by supporting vulnerable populations. This study reveals that the synergy of Islamic social finance instruments is poised to enhance Malaysia's MADANI Economy framework, fostering a progressive and prosperous nation by aligning with national policies and the Sustainable Development Goals (SDGs), and thereby elevating both economic competitiveness and citizens’ quality of life through the collaborative efforts of key public and private stakeholders. In conclusion, this study articulates an integrated Islamic social finance framework, emphasizing the collaborative potential of key Malaysian government and financial institutions to foster a just and prosperous nation by empowering vulnerable communities and aligning economic development with sustainable, inclusive principles, thereby positioning Malaysia as a global leader in an integrated Islamic social finance framework.

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