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Contact Name
Husnurrosyidah
Contact Email
kanjenxratu@gmail.com
Phone
+62291 432677
Journal Mail Official
iqtishadia@iainkudus.ac.id
Editorial Address
Program Studi Ekonomi Syariah Fakultas Ekonomi dan Bisnis Islam Institut Agama Islam Negeri (IAIN) Kudus Alamat: Jl. Conge Ngembalrejo PO BOX 51
Location
Kab. kudus,
Jawa tengah
INDONESIA
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam
Core Subject : Economy,
IQTISHADIA, particularly focuses on the main problems in the development of the sciences of Islamic Economics and Business areas. It covers: Islamic Management Islamic Banking Islamic Microfinance Islamic Marketing Islamic Human Resources Islamic Finance Zakah ,Waqf and Poverty Alleviation Islamic Public Finance Islamic Monetary Islamic Economic Development Maqasid al-Sharia Institutional Economics Behavioural Economics and Finance Corporate Governance Risk Management Islamic law and Shariah issues in economics and Finance Securitization and Sukuk Islamic Capital Markets Insurance and Takaful Corporate Social Responsibility in Islam Other topics which related to this area.
Articles 134 Documents
MSMEs' Intention in Adopting Sharia Equity Crowdfunding: An Empirical Study Using TAM and TPB
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 18, No 2 (2025): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v18i2.33109

Abstract

This study attempts to explore the factors that influence MSMEs' decisions to adopt sharia equity crowdfunding (SECF) models in Indonesia by analyzing the integration of the theory acceptance model (TAM) and the theory of planned behavior (TPB) framework on Micro, Small, and Medium Enterprises (MSMEs) intention in using sharia equity crowdfunding. This quantitative study involved 695 MSMEs, utilizing an online questionnaire as the data collection method, which was subsequently analyzed using structural equation modeling (SEM) with Smart-PLS software. The study shows that MSMEs consider more aspects of convenience and benefits related to the technology offered by sharia equity crowdfunding. Additionally, subjective norm (SN), attitude (ATT), and PBC also play crucial roles. Interestingly, the interest of MSMEs in adopting sharia equity crowdfunding does not depend on the perception of others but instead prioritizes the direct experience they can perceive from sharia equity crowdfunding. Key findings include significant positive effects of Perceived Usefulness (PU) on ATT and ItU (Intention to Use), Perceived Ease of Use (PEU) on ItU and PBC, and SN on PU and PEU.
Islamic Microfinance and Digital Literacy Driving MSME Growth: Innovation as Mediator and Competition as Moderator in Shariah Economic Context
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 18, No 1 (2025): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v18i1.32541

Abstract

This study investigates the impact of Islamic microfinance and digital literacy on the growth of Micro, Small, and Medium Enterprises (MSMEs) in Indonesia, grounded in the principles of maqāṣid al-sharīʿah. Using Partial Least Squares Structural Equation Modeling (PLS-SEM) on a sample of 100 MSMEs, the study examines both direct and indirect effects through business innovation, with market competition as a moderating variable. The findings reveal that Islamic microfinance and digital literacy significantly promote MSME growth, while business innovation is a key mediating mechanism. Interestingly, the moderating effect of market competition on innovation is negative, suggesting that excessive rivalry may inhibit innovation outcomes. This result is interpreted through both Islamic principles, such as maslahah, musābaqah, and ijtihād, and conventional theories of competition and innovation. The integration of ethical constructs like akhlāq al-raqāmiyyah and sharia-compliant financing (e.g., muḍārabah, mushārakah) demonstrates how spiritual and strategic dimensions interact in entrepreneurial growth. The study contributes to Islamic entrepreneurship theory by formalizing ethical digital literacy and Islamic competition as empirical constructs. It offers practical insights for Islamic financial institutions and policymakers while supporting the Sustainable Development Goals, particularly Goal 8 on inclusive economic growth.
Religiosity as a Moderator Between Planned Behavior Factors and Online Purchase Intention
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 17, No 2 (2024): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v17i2.29959

Abstract

The development of the digital era has changed consumer behavior patterns. This is influenced by factors such as social media, ease of use, lifestyle, and price. This study aims to evaluate the influence of social media, ease of use, price, lifestyle, and religiosity on online shopping behavior. This study uses Structural Equation Modeling (SEM) with a quantitative approach to measure the influence of social media, ease of use, price, lifestyle and religiosity on 300 Muslim consumer respondents with religiosity as a moderator variable. This study found that social media, ease of use, price, and lifestyle have a significant impact on online shopping behavior, with a p-value below 0.05. Price shows the strongest influence (coefficient 0.328), followed by ease of use (0.261), social media (0.219), and lifestyle (0.132). In contrast, religiosity has no significant influence (p-value 0.954) and does not moderate this relationship, as indicated by the high p-value and low f-square value. This suggests that Muslim consumers prioritize rational factors over religiosity in online shopping.
The Intersection of Waqf and Entrepreneurship: Insight from A Bibliometric and Content Analysis Study
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 17, No 2 (2024): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v17i2.30217

Abstract

The concept of waqf, one of the Islamic philanthropic instruments, has changed over time and has become a tool for passive charity and economic empowerment. This research examines the potential for integrating waqf with entrepreneurship as a social and economic empowerment instrument, using a bibliometric and content analysis approach to identify trends, insights, and gaps in the literature. The research results show that the concept of productive waqf, if managed innovatively, can contribute significantly to sustainable economic development, poverty alleviation, and community empowerment, especially in Muslim-majority countries. This research also highlights the importance of technology-based waqf management, such as sharia fintech and crowdfunding, as well as cross-sector collaboration to increase the social impact of waqf. Recommendations are provided to practitioners, policymakers, and academics, including the need to develop policies that support transparent waqf management, training for nazhir, and further research to explore the potential of waqf in various economic sectors. This study provides theoretical and practical contributions to more innovative and sustainable waqf management.
Halal Destinations Brand Equity: Impacts on Tourist Motivation and Travel Revisit Intention in Indonesia
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 18, No 2 (2025): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v18i2.31452

Abstract

The purpose of this study is to determine how the brand equity of Indonesia's ten halal destinations affects tourists' motivation and intention to revisit. Grounded in the Theory of Planned Behavior (TPB) and the Islamic marketing framework, this study integrates both behavioral and spiritual dimensions to explain tourist decision-making in halal destinations. The research employed a quantitative approach using Partial Least Squares Structural Equation Modeling (PLS-SEM) with SmartPLS 3.2.9 as the analytical tool. Data were collected from 413 valid responses of domestic tourists from Generations X and Y (aged 27–56) who had visited at least one of Indonesia’s halal destinations in the last five years. Purposive sampling was used to ensure respondents met the halal travel criteria. The results revealed that perceived quality, value, and loyalty of halal destinations positively and significantly affect halal destination brand equity, while awareness and image have insignificant effects. Furthermore, halal destination brand equity significantly influences tourist motivation and intention to revisit, confirming its mediating role between destination attributes and behavioral outcomes. The novelty of this research lies in integrating Islamic values, such as ihsan (service excellence) and tayyib (goodness), into the halal destination brand equity framework, thereby offering a holistic understanding of spiritual–behavioral alignment. The findings provide theoretical and managerial implications for strengthening Indonesia’s position as a leading global halal tourism destination.
How Islamic Securities Crowdfunding Platforms Attract Prospective Investors to SMEs: Insights from Indonesia
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 17, No 1 (2024): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v17i1.29828

Abstract

This study aims to explore the extent to which outbound Islamic brands encourage Muslim and non-Muslim investors to invest in Islamic FinTech securities crowdfunding (SCF) with perceived trust as a mediating variable. This study includes the results of an online survey of two hundred and twenty-five investors. Partial Least Squares-Structural Equation Modeling (PLS-SEM) analysis was employed to test the statistical hypothesis. This study shows that outbound Islamic brands are the main drivers for Muslim and non-Muslim investors to invest in Islamic securities crowdfunding platforms using smartphones, and brands that are perceived well by investors can also increase trust in SCF. On the other hand, The mediating effect of perceived trust is proven to have a significant impact on investment interest; thus, this finding provides in-depth insights for investors regarding effective investment strategies and encourages them to have more confidence in the potential of the FinTech market.
The Influence of Fintech P2P Lending on Islamic Bank Financing
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 18, No 1 (2025): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v18i1.31352

Abstract

The rise of financial technology (fintech) has disrupted traditional banking systems, introducing both challenges and opportunities. While fintech financing has resulted in a substitution effect that diminishes banking value, it also complements the banking sector by leveraging technology to improve financial services. This study investigates the impact of fintech peer-to-peer (P2P) on Islamic banking financing and examines the role of financial inclusion in moderating this relationship. Using panel data regression across Indonesian regions from 2021 to 2023 with a fixed-effects model, the findings reveal that fintech P2P lending, bank assets, and bank deposits positively and significantly influence Islamic bank financing. However, financial inclusion and its interaction with fintech P2P lending exhibit a negative and significant effect, suggesting that an increase in Islamic bank branches, as a proxy of financial inclusion, reduces Islamic bank financing and weakens the link between fintech P2P lending and Islamic bank financing. These results highlight the need for an innovative approach to financial inclusion, such as enhancing digital financial services, while urging practitioners and regulators to align fintech adoption with inclusive financial strategies to optimize its impact.
Factors Influencing Syariah Mutual Fund Investment Decisions in Indonesia: What is FoMO's Role?
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 18, No 1 (2025): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v18i1.30467

Abstract

This research sought to investigate how fear of missing out (FoMO) among Indonesia's Generation Z mediated the effects of herding behavior, loss aversion, and financial literacy on the decision-making process for sharia mutual fund investments. This study employs a quantitative methodology. A questionnaire on a Likert scale from 1 to 10 was used to gather data, which was distributed to sharia mutual fund investors in Indonesia via Google Forms. Non-probability sampling was employed in the sample procedure. The study involved a sample of 150 respondents. The data analysis was conducted using the partial least squares-structural equation modeling (PLS-SEM) technique with the assistance of SmartPLS 3.0 software. The first test is the assessment of the measurement model. The second test is the evaluation of the inner model using the bootstrapping technique of 5000 samples. The study's findings revealed that herding behavior, loss aversion, and financial literacy significantly and positively influence investment decisions. FoMO was found to have no impact on investor decision-making. Additionally, the independent variable showed no significant influence on sharia mutual fund investment decisions when mediated by the FoMO variable.
The Role of Religious Faith on Female Muslim Attitude and Behavior of Charity Intention
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 17, No 2 (2024): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v17i2.30310

Abstract

This study aims to explore how women’s religious faith influences their interest in giving charity. The female Gen-Z has a unique and fast adaptation to digital and social media. It is important to explore their role in giving to charity. The sample size of this study is 311. Data was collected using purposive sampling based on specific criteria: female Muslim, done performing or ever performing a charity, Gen-Z between 17 to 21 years old. The research results were analyzed using Structural Equation Modeling (SEM) by employing AMOS 20; hence, Exploratory Factor Analysis (EFA) and Confirmatory Factor Analysis (CFA) are essential for ensuring the reliability and validity of data analysis. EFA was analyzed through SPSS 20, while CFA and SEM were through AMOS 20. This study reveals that religious faith has a positive and significant impact on attitude and perceived behavioral control. Additionally, both attitude and perceived behavioral control significantly influence the intention of Muslim female Gen-Z to engage in charitable acts. This study is limited to female Muslim Gen-Z individuals. Therefore, future studies need to expand the demographic. This study also did not explore potential mediating or moderating factors. Therefore, future studies are encouraged to add mediating or moderating variables.
Transactional Maqaṣid al-Shariʿah as Framework to Ensure Legal Certainty in Digital Islamic Transactions
Iqtishadia: Jurnal Kajian Ekonomi dan Bisnis Islam Vol 18, No 2 (2025): IQTISHADIA
Publisher : Ekonomi Syariah IAIN Kudus

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21043/iqtishadia.v18i2.34228

Abstract

This research originates from the widespread problems in contemporary digital transactions that have not been sufficiently addressed through studies of fiqh muʿāmalah or maqāṣid al-sharīʿah, indicating an urgent need for a theoretical framework capable of responding to the challenges of transactions in the digital era. Accordingly, this study offers the concept of Transactional Maqāṣid as a normative parameter to ensure that contractual practices remain within the bounds of sharia. Employing a library-based method with a conceptual approach and descriptive analysis, this study examines the relevance of maqāṣid al-sharīʿah to the dynamics of digital transactions, which are marked by information obscurity, vulnerability to fraud, and potential data manipulation. The findings demonstrate that Transactional Maqāṣid emphasize justice and certainty as foundational principles that produce mutual satisfaction (tarāḍī) among the parties, which is achieved by avoiding five elements that undermine transactional integrity: gharar, ghishsh, ribā, qimār, and ḍarar. To actualize these principles, Transactional Maqāṣid encourage enhanced transparency, documentation, and guarantees, all of which strengthen trust while providing higher levels of legal protection. Ultimately, this study concludes that the application of Transactional Maqāṣid in digital transactions provides legal certainty, reduces the potential for civil disputes, and ensures that sharia values remain relevant in the development of the digital economy.