cover
Contact Name
Fitranty Adirestuty
Contact Email
rief@upi.edu
Phone
+6285220087184
Journal Mail Official
rief@upi.edu
Editorial Address
Gedung Fakultas Pendidikan Ekonomi dan Bisnis (FPEB) Universitas Pendidikan Indonesia Gedung Garnadi Jl. Dr. Setiabudhi 229. Bandung 40154 Jawa Barat
Location
Kota bandung,
Jawa barat
INDONESIA
Review of Islamic Economics and Finance
ISSN : 26567083     EISSN : 26571498     DOI : 10.17509/rief
Core Subject : Economy,
The aims of this Journal is to promote a principled approach to research on Islamic macroeconomics, Islamic microeconomics, Islamic development economics, Islamic monetary economics, Islamic public economics, Islamic political economics, Islamic leisure toursm, and Islamic financial technology. Review of Islamic Economics and Finance (RIEF) specializes in Islamic Economics and is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines. Specifically, the journal will deal with topics, including but not limited to: Islamic macroeconomics, Islamic microeconomics, Islamic development economics, Islamic monetary economics, Islamic public economics, Islamic political economics, Islamic Leisure Toursm, and Islamic Financial Technology eetcology related concerns by encouraging inquiry into the relationship between theoretical and practical studies.
Articles 87 Documents
An Analysis of The Effectiveness of Waqf Fund Management Performance in Waqf Managing Institutions in Indonesia Widiyanti, Dwi Retno; Abdurrahman, Anas Faqih; Hafidzuddin, Ihsan
Review of Islamic Economics and Finance Vol 7, No 2 (2024): Review of Islamic Economics and Finance (RIEF): November 2024
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/rief.v7i2.73868

Abstract

AbstractPurpose – The purpose of this research is to measure the efficiency of waqf funds managed by philanthropic institutions in Indonesia during the period 2018–2022. Four representations of best waqf funds institutions are chosen as sample, they are Dompet Dhuafa, Baitulmaal Muamalat, Waqf Al-Azhar, and Waqf Salman. Methodology - The method used is to use a quantitative approach using non-parametric Data Envelopment Analysis (DEA) data analysis techniques. The efficiency measurement is obtained from the using input variables (human resource costs, operational costs, and fixed assets) and output variables (collection and distribution of waqf funds).Findings - The Research findings show variations in the efficiency of waqf fund management between 2018 and 2022 that indicated the small impact of the COVID-19 pandemic on the efficiency of waqf institutions. Other findings revealed that Dompet Dhuafa has the most efficient DMU. It is qualified as the benchmark for other waqf institutions in their efforts to improve efficiency.Keywords: Efficiency; waqf institutions; Data Envelopment Analysis (DEA)
Halal Cosmetics and Acne Vulgaris: Uncovering Consumer Behavior and Sustainable Solutions Fatimah, Andini Nur; Hidayat, Arif; Setiadi, Adi; Juliana, Juliana; Marlina, Ropi; Umar, Abdurrauf
Review of Islamic Economics and Finance Vol 7, No 2 (2024): Review of Islamic Economics and Finance (RIEF): November 2024
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/rief.v7i2.77326

Abstract

Purpose – This study aims to analyze the factors that influence the behavior of Muslim consumers, especially students, in choosing halal cosmetics to treat acne vulgaris. This study also explores how halal awareness, information sources, education level, and family history influence purchasing decisions, as well as the contribution of halal cosmetics to the Sustainable Development Goals (SDGs). Design/methodology/approach – This study uses a quantitative descriptive approach. Data were collected through a survey using a questionnaire distributed online to 70 students. Respondents were selected using a purposive sampling technique. Data analysis was carried out using the Microsoft Excel method. Finding – The results showed that halal awareness is the main factor influencing the decision to purchase halal cosmetics (35%), followed by trusted sources of information, such as health workers (30%). The factor of family history with oily skin increases the tendency to choose halal products (60%). In addition, students with higher education levels (semesters 3-4) are more selective in choosing halal cosmetics (70%) compared to students in the early semesters (50%). The most frequently used product for acne vulgaris treatment is facial cleanser (83.87%).
Challenges of Halal Certification Policy for MSE Products with a Leading Food and Beverage Sector Approach: Local Government Policy Analysis Makhtum, Ahmad; Faraby, Muhammad Ersya
Review of Islamic Economics and Finance Vol 7, No 2 (2024): Review of Islamic Economics and Finance (RIEF): November 2024
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/rief.v7i2.74194

Abstract

Purpose – The study aims to that public policy in implementing the halal certification process massively in recently years. This study has the scope of roles as well as challenges of halal certification by local governments which have an important role in accelerating halal certification. Thus, the government can map priorities of challenges in order to alleviate various problems in the implementation of halal certification evenly in all business sectors.Methodology - The study was conducted qualitatively with descriptive analysis in several sectors of government service institutions in accordance with the main tasks of functions in Micro Small Enterprises, especially in the leading sector for food and beverages. Findings - Some of the challenges faced by local governments, especially in Micro, Small Food and Beverage Enterprises, include; availability of data on business actors, literacy of micro business actors, government socialization programs, synchronization of regulations and programs to local governments, regional budget limitations, collaboration with related parties.
Islamic Insurance (Takāful): A Review Of Recent Riset and Future Directions Ditama, Rezki Agrisa; Fauzi, Muhammad; Muid, Abdul; Mahdi, Al-
Review of Islamic Economics and Finance Vol 7, No 2 (2024): Review of Islamic Economics and Finance (RIEF): November 2024
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/rief.v7i2.72342

Abstract

Purpose – This riset aims to review of recent riset on Takāful and highlight future riset directions..Methodology - This riset is descriptive qualitative, with the method used is a literature review. Riset data was collected or searched through the Emerald data base for the last 24 months (January 2022 – December 2023) by entering the keyword title in the search column "Takāful, Islamic Insurance", and by using content analysis as a data analysis tool.Findings - The study show that during the last 24 months there were 29 Takāful riset documents (in the form of journal articles) recorded in the Emerald data base. Riset has been analyzed and summarized into several sub-categories (streams), namely Takāful riset stream 1: policy, law, governance/performance, service, marketing, accounting. Takāful riset stream 2: Micro-Takāful. Takāful riset stream 3: creating a conceptual model. Takāful riset stream 4: basic human values/traditions and the application of behavioral theory to examine behavioral intentions. Finally, Takāful riset stream 5: effects of Takāful on economic development, inclusion and islamic finance. These findings also show an increase, especially in Takāful riset stream 1 and 4. Meanwhile in Takāful riset stream 2, 3 and 5 show the need for more efforts in this area, and the researchers have outlined the opportunities. Apart from that, very important riset, such as the application of digital technology to bring sharia issues and Takāful product innovation into practice and solutions have not been found in the Takāful riset stream so there is a gap and requires serious work for future riset.
Tawarruq As The Solution of Shariah Non Compliance in Ar-Rahn Practice: How Does It Work? Qanita, Ariza; Meldona, Meldona; Wahyuni, Nanik
Review of Islamic Economics and Finance Vol 7, No 2 (2024): Review of Islamic Economics and Finance (RIEF): November 2024
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/rief.v7i2.75157

Abstract

Purpose – This research aims to elaborate the concept of tawaruq as an alternative solution to the problem of sharia non-compliance in Rahn transactions in Indonesia. Many people are interested in Rahn transactions as financing that can help them to get their liquidity needs. However, in practice, rahn transactions are considered to contain elements of sharia non-compliance, namely taking ujrah based on the loan amount so that it is equated with usury.Methodology - This research used qualitative approach with literature review. The data used is secondary data in the form of journal articles, books and other documents published during the period 2015 to 2024.Findings - The research results show that the use of Tawarruq as a solution for sharia non-compliance in Rahn transactions is still controversial. There are scholars who consider it permissible and there are those who prohibit it. Tawarruq can be used as a solution in rahn transactions, but its implementation must be in accordance with predetermined limitations. DSN MUI as a fatwa institution in Indonesia should review the implementation of Tawarruq in sharia financial institutions, both legally and technically.
Factors Affecting Islamic Bank Financial Performance Muhammad, Mumuh; Sarı, Emre Selçuk; Umarovich, Kholdorov Sardor; Takidah, Erika; Pertiwi, Risa Sari
Review of Islamic Economics and Finance Vol 7, No 2 (2024): Review of Islamic Economics and Finance (RIEF): November 2024
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/rief.v7i2.75396

Abstract

Purpose – This study aims to investigate the factors affecting financial performance in Islamic banks.Methodology - The quantitative approach is applied in this study with panel data analysis as analysis tool. This study measures the performance of Islamic Banks (IBs) in Türkiye and Indonesia. In total, there are 5 and 11 Islamic banks in Türkiye and Indonesia respectively used in this study, resulting 109 samples to analyze. Findings - The results show that bank size, capital ratio, operating expense ratio and inflation are found to be significant on Return on Avergae Assets (ROAA) positively. However, bank age and loan ratio do not have significant effect on ROAA. It is important to evaluate these factors to improve financial performance of Islamic bank in both countries as big Muslim population.
Exploring Halal Certification Literacy Measurement for Micro Small Enterprises (MSEs) Fathoni, Muhammad Anwar; Faizi, Faizi; Suprima, Suprima; Wiryanto, Fadhli Suko; Suryani, Suryani
Review of Islamic Economics and Finance Vol 7, No 2 (2024): Review of Islamic Economics and Finance (RIEF): November 2024
Publisher : Universitas Pendidikan Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.17509/rief.v7i2.73607

Abstract

Purpose – The study aims to explores the development of a Halal Certification Literacy Index (HCI) as a novel approach to address challenges faced by Micro and Small Enterprises (MSEs) in obtaining halal certification in Indonesia.Methodology – Employing a qualitative methodology, this research utilizes a comprehensive literature review to construct a conceptual framework for measuring halal certification literacy. The study investigates the current landscape of halal certification, focusing on regulatory frameworks, certification procedures, and the role of government bodies.Findings – The research identifies key challenges such as lack of awareness, financial constraints, and bureaucratic complexities hindering MSEs in obtaining halal certification. The proposed HCI assesses components like knowledge and awareness, procedural readiness, financial capability, human resource competency, and technological adoption.Practical Implications – By introducing the HCI, this study provides a practical tool for policymakers, businesses, and consumers to navigate and enhance the halal certification process. The HCI can facilitate targeted interventions to improve literacy, streamline certification procedures, and support MSEs in meeting halal compliance, ultimately boosting their competitiveness and market access.Originality/Value – This study introduces a novel Halal Certification Literacy Index, which offers a structured approach to measuring and improving halal literacy. The HCI represents an innovative contribution to the field, potentially setting a benchmark for similar indices in other regions and sectors within the halal industry.