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Husna Ni'matul Ulya
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INDONESIA
El-Barka: Journal of Islamic Economics and Business
ISSN : 26571153     EISSN : 26571862     DOI : -
Core Subject : Economy, Social,
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.
Arjuna Subject : -
Articles 142 Documents
Comparative Analysis of Waqf Institutions Governance in India and Singapore Owais, Mohd; Abdul Manaf, Zati Ilham
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 2 (2023)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i2.5321

Abstract

Waqf refers to a specific form of philanthropic charitable act that is practiced by allocating a non-perishable tangible asset. It involves designating categories of beneficiaries who are entitled to receive its benefits or income. This research investigates the governing structures of Waqf institutions in India and Singapore, with the objective of comprehending the intricate factors that influence their operational functionality. This research aims to explore the differences and similarities in the governance structures of waqf in both countries, considering its significance in their socio-religious landscapes. The main objectives of this comparative analysis are to examine the governance models of Waqf institutions in India and Singapore, identify regulatory mechanisms, and evaluate their impact on the administration and utilization of Waqf assets. Additionally, the study aims to illuminate the socio-economic implications of the differences in governance and assess the effectiveness of each model in preserving the intended socio-religious goals of Waqf endowments. This paper is grounded on research conducted using available written materials, and it embraces the qualitative research framework to analyze the literature at hand. By assessing and comparing the governance of Waqf institutions in India and Singapore, significant disparities are uncovered. India's approach is characterized by decentralization and the existence of various regulatory bodies, Singapore adopts a more centralized approach. The study sheds light on how different governance structures impact the effectiveness, transparency, and sustainable management of Waqf assets. Financial sustainability, community involvement, and adherence to socio-religious purpose emerge as pivotal factors that differentiate the two models.
The Role of the Social Sector in the Islamic Economic Model: Evidence from Indonesia Muttaqin, Aminnullah Achmad; Noor, Iswan; Afifah, Nurul; Syahrin, Fira Alfi
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 1 (2023)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i1.5881

Abstract

Indonesia is the most generous country. Since the time of the Islamic Kingdom, there are forms of social funds, like zakat, infaq, alms, waqf, qurban, and grants. The existence and activities of Social Organisations and Social Non-Profit Institutions (ORSOLANILA) collections and distributions of funds have so far not been taken into account in national income. Whereas their actions can help to improve the Indonesian economy. Therefore, this study aims to examine the importance of ORSOLANILA in Indonesia and support the Islamic macroeconomic theory proposed by Dumairy. The method used in this research is descriptive qualitative with the type of library research. The results of this study state that ORSOLANILA’s roles are crucial in the national economy. Comparison data between Social Fund and Real GDP shows that have the different trend. Social funds increased while Real GDP dropped in the same period. This can show that the number of social funds when included in the macroeconomic calculation as a social sector can increase the amount of GDP. So it is necessary to pay attention to the Islamic economic model in calculating national income because of its impact which is provide a mechanism for economic stabilization in situations crisis or disaster and increasing investment in social and infrastructure projects that support long-term economic growth.
Enhancing Productive Zakat Programs in Light of Maqāṣid SyarÄ«’ah: Chance and Challenge in Contemporary Aceh Mubarrak, Husni; Munir, Badrul; Achyar, Gamal
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 1 (2023)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i1.6140

Abstract

Abstract: Introduction: As the main pillar of Islam, zakat is still convinced being an effective instrument in order to realize poverty alleviation and social equilibrium. Background Problems: This article discusses about implementation, challenge and moment that could be seized by Baitul Mal as an independent institution, to compile and distribute zakat in Aceh, after a broader jurisdiction that it has, to reduce poverty. However, the reality in Aceh currently shows that the poverty is still becoming the main broadly challenged social problems that faced. Research Method: This study is a qualitative one using semi-structured interviews with purposive sampling to stakeholders who are directly engaged in zakat management in Baitul Mal Aceh and other parties like academician and practician, as well as observation and documentation. Finding/Results: The finding of this research shows that as an independent board in Aceh province, Baitul Mal Aceh has a big chance and broader authority to maintain, manage and develop zakat based on Islamic sharia law in Aceh, although it has also many obstacles to realize it. This article suggests and proposes maqāṣid syarÄ«’ah should be the parameter of any zakat programs conducted. By using maqāṣid syarÄ«’ah, hopefully it could be the parameter of innovating and conducting any productive zakat programs for realizing a more welfare and beneficial (mashlahat) purposes.
How to Overcome the Risk of Islamic Banks: Evidence from Indonesia Suganda, Asep Dadan; Anita, Anita; Wulandari, Soliyah
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 1 (2023)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i1.6795

Abstract

Risk management is a crucial aspect of Islamic banking to ensure the sustainability and operational safety of banks and maintain the trust of customers and stakeholders. This article discusses the importance of risk management in the context of Islamic banking and analyzes the challenges faced by Islamic banks in managing risks. This research adopts a qualitative approach, with a focus on collecting in-depth descriptive and interpretative data. The study involves text analysis and case studies of Islamic banks in Indonesia. This article discussed the basic concepts of risk management in the context of Islamic banks, including risk identification, risk evaluation, and risk control. We explain the importance of comprehensive risk assessment and the use of appropriate risk management tools to address specific risks faced by Islamic banks. By analyzing these challenges, this article provides a comprehensive overview of risk management in Islamic banking and offers recommendations to enhance the capabilities of Islamic banks in effectively managing the risks. Finally, the author offers a model for overcoming the risk of Islamic banks with the Hexagonal Model consisting of two sides (internal and external) and six main cores: Education, Identification, Accountable, Guidelines, Research, and Technology.
Can Indonesia Become A Cashless Society through Digitalization and Financial Literacy? Soenjoto, Wening Purbatin Palupi; Mahmudah, Siti Nur
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 2 (2023)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i2.6960

Abstract

After the Covid-19 pandemic, it cannot be denied that online shopping has increased shopping behavior patterns using non-cash money. This is due to restrictions on community activities and cash is considered to be a trigger for the spread of the Covid19 virus. This research looks at the phenomenon of using cash as an impact of the Covid-19 pandemic, whether it triggers an increase in non-cash financial literacy and whether government programs for people's movement to use non-cash money can form a non-cash society as a form of effective use of non-cash money or even trigger consumer behavior with minimal understanding non-cash financial literacy. This research uses a qualitative, phenomenal approach by collecting data through interviews with 50 informants with criteria aged 19-21 years and to triangulate the data, interviews were conducted with 2 employees of Bank BSI Jombang and BRI Pulung Ponorogo who have expertise in the banking sector. Based on the research results, it is stated that cashless users aged 19-21 years, influence consumer behavior but have not yet been balanced with detailed knowledge of digital financial literacy and still the function of non-cash money is mostly on shopping behavior so that digital financial skills in non-cash only limited to debits and credits in the cash flow of bank accounts. There is a difference between women and men in usage, namely that men study the products they will buy using cashless and are not easily influenced by promotions compared to women who easily use cashless without studying the details of the products they will buy so they are easily influenced by promotions. It can be used as a basis for policy making in the economic and banking sectors.
Roles of Awareness and Knowledge in Determining People’s Perception Towards Takaful: Evidence from Southwestern Afghanistan Abdullah, Ziarmal; Shams, Shamsullah; Ashurov, Sharofiddin
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 1 (2023)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i1.7095

Abstract

The main purpose of this study is to investigate the impact of awareness and knowledge in determining people’s perceptions towards takaful services in Afghanistan's southwestern zone, with a particular focus on the provinces of Kandahar, Helmand, and Zabul. This study aims to shed light on the elements impacting people's perceptions of takaful by assessing their awareness and understanding levels of takaful in the specified geographic and socioeconomic environment. To achieve the study objective, an expert research methodology is adopted. It includes survey-based inquiries conducted using a carefully chosen heterogeneous purposive sampling (HPS) technique. The data collected is subjected to rigorous analysis, including reliability testing, multiple regression, and Pearson correlation analysis. The robust analysis is facilitated by the utilization of SPSS version 26:00 software. The results state that the role of awareness and knowledge is established as statistically significant and has a positive impact on shaping individuals' perceptions towards takaful services within the southwestern zone of Afghanistan. To enhance the breadth of future research, it is recommended that similar investigations be extended to other provinces, fostering a more comprehensive understanding. As an avenue for future exploration, subsequent studies could delve into additional determinants of individuals' perceptions that may have been unaddressed in this research. The insights garnered from this study possess significant implications for policymakers seeking to facilitate the establishment of the takaful industry, with a particular emphasis on aligning regulatory measures with Sharia law and focusing on the salient determinants that influence individuals' perceptions.
Relationship between Customer Experience and Digital Islamic-Only Banks: A Serial Mediation of Brand Trust and Brand Equity Febriyanto, Ahmad; Taqiyyudin, Moh Shadam; Khoirunnisa, Annes Nisrina
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 2 (2023)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i2.7097

Abstract

The main objective of this study is to investigate the construction of customer experience, trust, and brand equity in the relationships between Islamic Digital-Only Banks. This model aims to provide a solution to the problems faced by Islamic banking. The study utilized a sample of 262 respondents, who were given an online questionnaire for data collection. The research sample was selected using a convenience sampling approach and specifically focused on consumers of Islamic Digital-Only Banks in Central Java and the Special Region of Yogyakarta. The collected data were analyzed using the partial least squares structural equation modelling (SEM-PLS) method. The findings indicate that the process of creating trust in Islamic Digital-Only Banks brands through the provided customer experience acts as a precursor to enhancing brand equity. Consequently, this can contribute to fostering customer loyalty. Therefore, it is of utmost importance for Islamic Digital-Only Banks in Indonesia to prioritize delivering exceptional customer experiences. Key features such as simplicity in various processes and the company's promptness in resolving customer issues can serve as critical factors in building customer loyalty. 
Future-Proofing Islamic Business: A Systematic Review of Strategic Foresight Implementation Using Vosviewer Anggara, Fajar Surya Ari; Wijaya, Wisnu; Faradisi, Roghiebah Jadwa
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 2 (2023)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i2.7278

Abstract

Islamic businesses encounter distinctive problems and opportunities in the current dynamic and uncertain commercial landscape. In VUCA environment, success hinges on the capacity to anticipate future developments and quickly adjust strategies accordingly. What are the current trends, concerns, opportunities, and challenges faced by Islamic businesses while adopting strategic foresight in the VUCA era for future studies? This research’s objective is to identify patterns, problems, prospects, and obstacles encountered by Islamic enterprises in VUCA world. This review seeks to identify essential themes, insights, and patterns regarding trend analysis, concerns, opportunities, and challenges faced by Islamic firms in the VUCA world by a thorough analysis of scholarly works. VOSviewer extracted Scopus search results. We analysed and mapped 590 publications on future-proofing Islamic business: a systematic evaluation of strategic foresight implementation. Based on the mapping results, 200 articles on strategic foresight from 2003 to 2023, 190 about Islamic business terms from 2005 to 2023, and 200 about VUCA from 2013 to 2023 were found. Many potential future research questions related topics such as how can strategic foresight help corporation forecast environmental changes, how can strategic foresight help Islamic business meet changing stakeholders needs, and how can strategic foresight improve Islamic business promising future
Measuring the Level of Fossil Energy Consumption, Economic Development, and International Trade on Co2 Emission Production in Indonesia Wardani, Tri Ulfa; Herianto, Herianto; Haslindah, Haslindah
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 2 (2023)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i2.7279

Abstract

Environmental health and climate change have become a global concern; there has been an increase in the amount of CO2 emissions from 1,720 million tons of CO2 equivalent in 2020 to 2,950 million tons of CO2 equivalents which has caused an increase in air temperature and widespread global warming. The purpose of this research is to see the relationship between energy consumption in the form of fossil energy, economic development, international trade and CO2 production in Indonesia. This research was built within the framework of a quantitative approach with an error correction model estimation model, data obtained from the world bank and world development indicators for the period from 1994-2021. Furthermore, the data is processed with the help of the STAT.17 application. Research to answer the question, do fossil energy consumption, economic development and international trade have short-term and long-term effects on the production of CO2 emissions in Indonesia. This study found that fossil energy consumption has both short and long term effects on CO2 emissions. Meanwhile, the variables of economic development and international trade only have a short-term effect. Thus this research is expected to be able to become the basis for strengthening to encourage the use of renewable energy towards sustainable development. This research is one of the comprehensive studies on economic development and environmental health.
A Systematic Literature Review on Islamic Expenditures Sobiyanto, Ahmad; Bustamil, Bustamil; Handayani, Tri; Hamzah, Muhammad Zilal
El-Barka Journal of Islamic Economics and Business Vol. 6 No. 2 (2023)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v6i2.7280

Abstract

The purpose of this study is to identify past research trends on Islamic spending, evaluate research collaborative relationships, and identify future research directions.It uses 14 articles published between 2003-2022 about Islamic Expenditures indexed in Scopus (Q1-Q4) using a qualitative and quantitative approach, the Bibliometric method and Systematic Literature Review (SLR). This study uses VosViewers software and Publish or Perish. It is known that the author who has the most publications on Islamic Expenditure is U.H. Umar. The article with the most citations was the article entitled "A proposed model for waqf financing public goods and mixed public goods in Malaysia". The journal with the largest number of publications is the International Journal of Islamic and Middle Eastern Finance and Management. The countries that contributed the most to the release were Malaysia, Nigeria and Pakistan. This study makes several contributions, including for future researchers, the research results can be used as a reference to identify influential authors, articles, journals, countries, findings and methods. For researchers, the results of this study can be used as a benchmark and literature necessary for the development of Shariah consumer research and to reassess the gaps in Islamic cost or cost research.