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Husna Ni'matul Ulya
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husnaulya8586@gmail.com
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elbarka@iainponorogo.ac.id
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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
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)
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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 Contribution of Islamic Commercial Banks to Indonesia’s GDP: Evidence from Third-Party Funds and Working Capital Financing Rizal, Fitra; Mukaromah, Haniatul
El-Barka Journal of Islamic Economics and Business Vol. 7 No. 1 (2024)
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Abstract

The growth of Islamic banking in Indonesia has continued to increase. Yet, its market share remains relatively small compared to conventional banks, resulting in a suboptimal contribution to the national economy. This study aims to analyze the contribution of Islamic Commercial Banks to Gross Domestic Product (GDP) through Third-Party Funds (DPK) and Working Capital Financing (PMK), with Return on Assets (ROA) as an intervening variable. The study employs a quantitative approach using quarterly secondary data for the 2015–2022 period obtained from the Financial Services Authority (OJK) and Statistics Indonesia (BPS). Data analysis was conducted using multiple linear regression and the Sobel test to examine direct and indirect effects. The findings reveal that DPK has no significant effect on ROA, while PMK significantly impacts ROA. Furthermore, DPK and PMK significantly influence GDP, whereas ROA has no significant impact on GDP and does not serve as an intervening variable. These results highlight that the contribution of Islamic Commercial Banks to economic growth is primarily driven by their financing intermediation function rather than bank profitability.
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)
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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.
Exploring the Drivers of Halal Certification Adoption in Depok City’s MSMEs for Sustainable Economic Empowerment Suko Wiryanto, Fadhli; Anwar Fathoni , Muhammad; Azka Karimah , Diva
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 2 (2025)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i2.11872

Abstract

Indonesia has achieved positive results in the world halal food sector in the SGIER, that Indonesia can compete in the global halal food, which will also have an impact on improving the sustainable economy in the halal food sector. Indonesia, through the Halal Product Guarantee Agency, implemented a mandatory halal certification program. This was implemented especially Micro, Small, and Medium Enterprises, can compete in providing halal-certified products. However, behind this achievement, it was found that the reality of halal certificate issuance in Depok have not made significant contribution to national achievements, namely only 6.05%. MSMEs as one of the pillars of the economy play a vital and significant role in contributing to state revenue. On the other hand, the Government requires halal certification for food and beverage products produced by micro, small, and medium enterprises until the deadline of October 2026. However, the proportion of MSMEs that have obtained halal certification is still relatively low when compared to the total number of MSMEs operating in Depok. This research uses a quantitative method by distributing questionnaires to respondents. Data will be processed using PLS, outer models, and inner models. The results of this study indicate that religiosity, halal literacy, and perceived benefits influence the interest in applying for halal certification. Religiosity influences interest in applying for halal certification due to the belief that selling halal products will encourage business owners to operate their businesses in accordance with religious principles. Halal literacy also influences interest in applying for halal certification among MSMEs in Depok City because a strong understanding encourages business owners to meet the needs of Muslim consumers more responsibly. Perceived benefits also play a role because halal certification serves not only as proof of halalness but also as a strategy to increase consumer loyalty.
The Influence of Trade in Services, Inflation, and Foreign Direct Investment on the Sharia Stock Index: A Case Study in Indonesia and Malaysia Lazuardi, Deris; Nur Asiyah, Binti
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 2 (2025)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i2.12038

Abstract

Abstract: Fluctuations in the prices of sharia-compliant stocks in the capital market are statistically reflected by the sharia stock index. The objective of this study is to analyze the effect of trade in services, inflation, and foreign direct investment (FDI) on the sharia stock index in Indonesia and Malaysia during the period 2011-2023. The researcher in this study used a quantitative method and the data source used was secondary data. The results of the study indicate that, partially, the service trade (trade in services) variable has a positive and significant effect on the sharia stock index, but partially, the inflation and foreign direct investment variables do not have an effect and are not significant on the sharia stock index. Meanwhile, simultaneously, the variables of services trade, inflation, and foreign direct investment have a positive and significant effect on the sharia stock index. The adj. R² value is 89%, meaning that the variables of services trade, inflation, and foreign direct investment can explain 89% of the sharia stock index, and all variables have a very good influence, as the R-squared (R2) value is 91%.
Islamic Ethics and Sustainability in Supply Chain Restructuring Amid Geopolitical Disruption: A Bibliometric Analysis Using SPAR-4-SLR Mudrikah, Azizah
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 2 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i2.12089

Abstract

In the context of intensifying geopolitical disruptions—from wars and pandemics to resource nationalism and trade sanctions—supply chains have become increasingly fragile and ethically contested. This study investigates the intersection of Islamic ethics and sustainability in supply chain restructuring, with a particular focus on halal and faith-based systems. Using the SPAR-4-SLR protocol and bibliometric tools such as Biblioshiny and VOSviewer, we systematically analyzed 58 peer-reviewed journal articles published between 2010 and 2025, sourced from Scopus, Dimensions, and Google Scholar. The study maps thematic evolutions, key authors, research clusters, and citation patterns. It identifies how core Islamic ethical values—such as ʿadl (justice), amānah (trust), iḥsān (excellence), and maqāṣid al-sharīʿah (objectives of Islamic law)—serve as moral anchors in guiding resilient, transparent, and socially responsible supply chains. Halal traceability, blockchain integration, and green logistics emerged as recurring focal points. Furthermore, the findings emphasize the role of spiritual leadership and Islamic governance models in enhancing supply chain integrity amid crises.
Islamic Social Finance and Institutional Accountability: A Case Study of Zakat and Philanthropic Organizations Prasetiyo, Luhur; Janah, Unun Roudlotul; Nisak, Khoirun
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 2 (2025)
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Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i2.11973

Abstract

Islamic Social Finance (ISF) significantly promotes social welfare, poverty alleviation, and inclusive economic development, particularly in Muslim-majority countries like Indonesia. This study investigates institutional accountability within Islamic philanthropic organizations managing Zakat, Infaq, Sadaqah, and Waqf (ZISWAF) in Ponorogo, Indonesia. Addressing gaps in the literature that mostly focus on national or international levels, this study emphasizes local governance challenges, the relationship between accountability and public trust, and the need for a Sharia-based accountability model. Employing a qualitative case study approach, data were collected through in-depth interviews, participant observation, and document analysis involving five Islamic philanthropic institutions. Thematic analysis revealed significant variations in financial accountability, Sharia compliance, and social accountability across institutions, highlighting the critical role of transparent reporting, external audits, and community engagement in enhancing public trust. The study proposes an integrated accountability model encompassing financial, Sharia, and social dimensions, advocating for enhanced digitalization, standardized Sharia audits, and improved public literacy to optimize ZISWAF fund management. These findings contribute to the theoretical discourse on Islamic social finance and provide practical recommendations for policymakers and practitioners aiming to strengthen institutional accountability and advance sustainable development goals.
How Leadership and Quality of Work Life (QWL) Drive Employee Performance in Public Hospitals Mardayanti, Mella; Myas Sari, Fangela; Rahmadi Hasibuan, Reza; Priatiningsih, Dian
El-Barka Journal of Islamic Economics and Business Vol. 8 No. 2 (2025)
Publisher : El-Barka

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/elbarka.v8i2.12190

Abstract

This study investigates how leadership and quality of work life contribute to improving employee performance in public hospitals, with a case study at RS QIM Batang, Central Java. The research focuses on employees working in the service department. A causal-associative quantitative design was employed, involving 100 respondents selected from a total population of 237 employees through stratified random sampling. Data were analyzed using the Structural Equation Modeling (SEM) approach with WarpPLS 8.0 software. The results indicate that leadership positively and significantly affects employee performance. Likewise, the quality of work life shows a positive and significant relationship with performance, while organizational commitment has a positive yet the quality of work life (QWL) has a statistically insignificant yet contextually relevant influence on employee performance at RS QIM Batang, reflecting the need for stronger alignment with Islamic work values.