cover
Contact Name
Ade Nur Rohim
Contact Email
adenurrohim@upnvj.ac.id
Phone
+6285259575940
Journal Mail Official
jiefes@upnvj.ac.id
Editorial Address
Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta Jl. RS Fatmawati No. 1, Pondok Labu, Jakarta Selatan 12450
Location
Kota depok,
Jawa barat
INDONESIA
Journal of Islamic Economics and Finance Studies
ISSN : 27236730     EISSN : 27236749     DOI : -
Journal of Islamic Economics and Finance Studies (JIEFeS) is a peer-reviewed journal published twice a year, in June and December by the Faculty of Economics and Business, Universitas Pembangunan Nasional Veteran Jakarta, Indonesia. The journal accepts scientific articles in the form of research results and theoretical or conceptual papers, written in standard Indonesian or English. JIEFeS particularly focuses on the main issues and studies in Islamic Economics and Finance areas. It covers Islamic Economics, Islamic Banking and Finance, Islamic Microfinance, Islamic Philanthropy (Zakah and Waqf), and Halal Economy.
Articles 93 Documents
Intention to Purchase Halal Cosmetic Products in an Islamic Pakistani Culture Zahid Hussain
Journal of Islamic Economics and Finance Studies Vol 3, No 1 (2022): JIEFeS, June 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v3i1.4256

Abstract

The purpose of this study is to determine the impact of Muslim customers' purchases of halal cosmetic products in Pakistan. Multiple linear regressions were used in this study. The data was collected from 223 Muslims who were all over the age of 18. Product quality, religious belief, halal awareness, personal societal perception, and halal certification were five of the six hypotheses tested. Results were found to have a significant impact on customer intentions to buy halal cosmetic products in Pakistan. According to the findings, customers' intentions to purchase halal cosmetics are influenced by brand perception. According to the findings of this study, halal certification is the most important factor influencing customer intentions to buy halal cosmetics.
Peran Etika Bisnis Islam dalam Meningkatkan Kepercayaan dan Repeat Order Konsumen Mirna Rafki; Idris Parakkasi; Sirajuddin Sirajuddin
Journal of Islamic Economics and Finance Studies Vol 3, No 2 (2022): JIEFeS, December 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v3i2.4868

Abstract

The rapid development of business and technology has had a positive impact on the business world so that attention to consumer trust and repeat orders is an important thing that must be considered. The purpose of this study is to analyze the role of Islamic business ethics in increasing consumer confidence and the implications for increasing consumer repeat orders. This study uses a qualitative method with a type of phenomenological research. The data sources used are primary and secondary data. Primary data was obtained through observation and direct interviews with 14 informants while secondary data was obtained from relevant literature. The research results show that CV. Sibuh Soppeng Regency focuses its operations on two things, namely service and marketing by implementing Islamic business ethics. Several indicators are used in building consumer trust such as good service, honesty, keeping promises, being responsible for consumers, and working on time which has implications for repeat orders from these consumers. Perkembangan bisnis dan teknologi yang semakin pesat membawa dampak positif dalam dunia bisnis sehingga perhatian terhadap kepercayaan dan repeat order konsumen menjadi hal penting yang harus diperhatikan. Tujuan dari penelitian ini adalah untuk menganalisis peran etika bisnis Islam dalam meningkatkan kepercayaan konsumen serta implikasinya terhadap peningkatan repeat order konsumen. Penelitian ini menggunakan metode kualitatif dengan jenis penelitian fenomenologi. Sumber data yang digunakan yaitu data primer dan sekunder. Data primer diperoleh melalui observasi dan wawancara langsung dengan 14 informan sedangkan data sekunder didapat dari literatur yang relevan. Hasil Penelitian menunjukkan bahwa CV. Sibuh Kabupaten Soppeng memfokuskan operasionalnya pada dua hal yaitu pelayanan dan pemasaran dengan mengimplementasikan etika bisnis Islam. Beberapa indikator digunakan dalam membangun kepercayaan konsumen seperti pelayanan yang baik, kejujuran, menepati janji, bertanggung jawab terhadap konsumen, serta bekerja tepat waktu yang berimplikasi terhadap repeat order dari konsumen tersebut. 
Analisis Strategi Pengembangan Eduwisata Cakra Suramadu dalam Tinjauan Ekonomi Islam Meta Ria Safani; Dony Burhan Nor Hasan
Journal of Islamic Economics and Finance Studies Vol 3, No 2 (2022): JIEFeS, December 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v3i2.5055

Abstract

Various problems faced by edutourism businesses significantly affect business development. The problem that occurs is the development of Cakra Suramadu edutourism in Morkepek Village which has not been optimal because there are still many obstacles such as the lack of tourists coming to the edutourism. This is because Cakra Suramadu edutourism is still not supported by vigorous promotions. In addition, many infrastructure facilities are still not optimal in terms of maintenance and construction. Various kinds of efforts were made by Cakra Suramadu edutourism in Mokepek Village to maintain its business, both in terms of strengths and weaknesses and threats from various other edutourism, and various strategies used by mango land edutourism in developing their business and being able to compete with other edutourism businesses. This study aims to examine and analyze the edutourism development strategy of Cakra Suramadu in Morkepek Village, Bangkalan Regency. This study uses a descriptive qualitative approach. Data collection was carried out by observation, interview, and documentation methods and analyzed using SWOT analysis with an overview of Islamic economics. This study found that Cakra Suramadu edutourism development can be carried out by promoting edutourism publications through social media, community involvement in the entire edutourism development process, optimal development of human resources (HR), and regulatory support.Bebagai permasalahan yang dihadapi usaha eduwisata sangat mempengaruhi perkembangan usaha. Permasalahan yang terjadi adalah pengembangan eduwisata Cakra Suramadu di Desa Morkepek yang belum optimal dikarenakan masih terdapat banyak kendala seperti minimnya wisatawan yang datang ke eduwisata tersebut. Hal tersebut dikarenakan eduwisata Cakra Suramadu masih belum didukung promosi yang gencar. Selain itu masih banyak sarana prasarana yang masih belum maksimal dalam hal perawatan dan pembangunannya. Berbagai macam upaya yang dilakukan oleh eduwisata Cakra Suramadu yang ada di Desa Mokepek untuk mempertahankan usahanya, baik dari sisi kelebihan maupun kelemahannya dan ancaman dari berbagai dari eduwisata lainnya, dan berbagai strategi yang digunakan oleh pihak eduwisata lahan mangga dalam melakukan perkembangan terhadap usahanya dan mampu bersaing dengan usaha eduwisata lainnya. Penelitian ini bertujuan untuk mengkaji dan menganalisis strategi pengembangan eduwisata Cakra Suramadu di Desa Morkepek Kabupaten Bangkalan. Penelitian ini menggunakan metode deskriptif pendekatan kualitatif. Pengumpulan data dilakukan dengan metode observasi, wawancara, dan dokumentasi dan dianalisis dengan menggunakan analisis SWOT dengan tinjauan ekonomi Islam. Penelitian ini menemukan bahwa pengembangan eduwista Cakra Suramadu dapat dilakukan dengan mempromosikan publikasi eduwisata melalui media sosial, keterlibatan masyarakat dalam keseluruhan proses pengembangan eduwista, pengembangan sumber daya manusia (SDM) yang optimal, dan dukungan regulasi.
Analisis Valuasi Harga Saham Healthcare Menggunakan Price to Earnings Ratio (PER) pada Saham Syariah Romi Adetio Setiawan; Anjas Saputra
Journal of Islamic Economics and Finance Studies Vol 3, No 2 (2022): JIEFeS, December 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v3i2.5057

Abstract

An Investor can potentially expose to a risk of loss in an investment when the capital was invested with no knowledge-based decision theory. This can be avoided by analyzing the stock price valuation. The purpose of this study is to examine investor decision-making in Islamic stocks using the Price to Earnings Ratio to analyze the valuation of stock price. This study uses a quantitative approach by collecting secondary data from the Indonesian Stock Exchange in the form of financial statements or company annual reports of healthcare shares from 2018 to 2021. The technique of descriptive statistics is used in this research. The finding of this study indicates that, based on the PER method analysis, there is an inconsequential market value in the stock price for the shares of PT Kalbe Farma Tbk (KLBF), PT Kimia Farma Tbk (KAEF), and PT Mitra Keluarga Karya Sehat Tbk (MIKA) thus, the investors suggested to sell. On the contrary, the investor should buy the shares of PT Industri Jamu Dan Pharmacy Sido Muncul Tbk (SIDO), since the company’s ratios of ROE, DPS, and DPR are the highest among the three other companies, followed by a lower persistence rate of PER value. Risiko kerugian dalam berinvestasi dapat terjadi pada seorang investor jika pengambilan keputusan investasi tanpa didasari oleh pengetahun sehingga menimbulkan kerugian terhadap modal. Upaya untuk mengurangi kerugian dapat diatasi dengan menganalisis valuasi harga saham. Tujuan penelitian ini adalah untuk menganalisis pengambilan keputusan investor dalam mempertimbangkan investasi pada saham syariah melalui metode Price to Earnings Ratio (PER) terhadap valuasi harga saham. Penelitian ini menggunakan metode kuantitatif dengan teknik stastistik deskriptif. Data yang digunakan adalah data sekunder berupa laporan keuangan atau laporan perusahaan sektor healthcare per tahun yang diakses dari laman website Bursa Efek Indonesia. Dari hasil penelitian melalui metode PER terhadap nilai fundamental perusahaan dan valuasi harga saham pada perusahaan sektor healthcare di indeks JII70 periode 2018-2021 ditemukan bahwa saham PT Kalbe Farma Tbk (KLBF), PT Kimia Farma Tbk (KAEF), dan PT Mitra Keluarga Karyasehat Tbk (MIKA) menunjukkan pertumbuhan yang kurang baik, sehingga investor dianjurkan menjualnya. Sebaliknya, investor dianjurkan membeli saham PT Industri Jamu Dan Farmasi Sido Muncul Tbk (SIDO), yang memiliki rasio ROE, DPS, dan DPR tertinggi dibandingkan tiga perusahaan lainnya dan nilai PER terendah terhadap perusahaan yang lain.
The Impact of Productive Zakat Program on the Economy of Zakat Recipients: Study in Baznas Surakarta Azhar Alam; Deviana Sari; Lukmanul Hakim
Journal of Islamic Economics and Finance Studies Vol 3, No 2 (2022): JIEFeS, December 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v3i2.4774

Abstract

This study aims to reveal the impact of productive zakat of Baznas Surakarta on the economy of zakat recipients. The research of impact that is based on the perceptions of zakat recipients is fundamental so that Baznas Surakarta can evaluate some program deficiencies and determine whether effective zakat programs help the welfare of zakat recipients. This study is descriptive qualitative research by conducting in-depth interviews with Baznas Surakarta officials and ten productive zakat recipients. The results of this study indicate that in the view of zakat recipients, the effective zakat program has improved the recipients' economy, and the majority of their businesses have been able to develop. However, to develop a business, the tenacity of zakat recipients is required to manage their business.On the other hand, the form of supervision carried out by Baznas Surakarta still needs to be improved by providing capital without training. Furthermore, Baznas Surakarta has yet to confirm whether the zakat funds given to zakat recipients are used optimally. This study recommends the importance of supervision in the distribution of zakat in the form of productive business funding.  Penelitian ini bertujuan untuk mengungkapkan dampak zakat produktif dari Baznas Surakarta terhadap kondisi ekonomi penerima zakat. Penelitian dampak berdasarkan persepsi penerima zakat sangat penting agar Baznas Surakarta dapat memperbaiki kekurangan program dan mengetahui apakah program zakat produktif membantu mensejahterakan kehidupan penerima zakat. Penelitian ini merupakan penelitian kualitatif deskriptif dengan melakukan wawancara mendalam terhadap petugas Baznas Surakarta dan sepuluh penerima zakat produktif. Hasil penelitian ini menunjukkan bahwa dalam pandangan penerima zakat program zakat produktif telah meningkatkan perekonomian mustahiq dan mayoritas bisnis mereka mampu berkembang. Namun demikian, untuk mengembangkan usaha diperlukan keuletan penerima zakat dan mampu mengelola usahanya. Di sisi lain, bentuk pengawasan yang dilakukan oleh Baznas Surakarta masih belum optimal dengan hanya memberikan modal tanpa pelatihan. Baznas Surakarta belum dapat memastikan apakah dana zakat yang diberikan kepada penerima zakat digunakan secara maksimal. Penelitian ini merekomendasikan pentingnya supervisi dalam pendistribusian zakat dalam bentuk pendanaan usaha produktif. 
Faktor-Faktor yang Memengaruhi Minat Sedekah Non Tunai Narendra Irawati; Endah Nur Fitriyani
Journal of Islamic Economics and Finance Studies Vol 3, No 2 (2022): JIEFeS, December 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v3i2.4779

Abstract

In this modern era, the development of Islamic financial instruments has entered an era of increasing awareness from various parties. One of them is by participating in adapting technological developments in alms collection, in addition to making it easier for almsgivers to channel their donations, this strategy is expected to optimize the potential of ZIS in Indonesia. However, the factors that encourage interest in non-cash donations still need to be studied more deeply in order to improve the optimization of ZIS collection. This study aims to determine the effect of perceptions of convenience, income, and religiosity on interest in non-cash alms with trust as a moderating variable. This study used a quantitative method by processing primary data collected from questionnaires given to 100 Muslim communities in the city of Salatiga who were used as research samples. The analytical tool used is multiple linear regression with the help of the SPSS 26 application. Data analysis methods include instrument testing, classical assumption testing, and hypothesis testing. The results of this study indicate that perceived convenience and income have a significant positive effect on interest in non-cash alms. Meanwhile, religiosity has no effect on interest in non-cash alms. As well as trust is able to moderate the effect of perceptions of convenience, income, and religiosity on interest in non-cash alms.Pada era modern seperti sekarang, perkembangan instrumen keuangan Islam telah memasuki era peningkatan kesadaran dari berbagai pihak. Salah satunya dengan turut mengadaptasi perkembangan teknologi dalam penghimpunan sedekah, selain memudahkan penyedekah menyalurkan donasinya, strategi tersebut diharapkan dapat mengoptimalisasi potensi ZIS yang ada di Indonesia. Namun, faktor yang mendorong minat berdonasi non tunai masih perlu dikaji lebih dalam agar mampu meningkatkan optimalisasi penghimpunan ZIS. Penelitian ini bertujuan untuk mengetahui pengaruh persepsi kemudahan, pendapatan, dan religiositas terhadap minat sedekah non tunai dengan kepercayaan sebagai variabel moderasi. Penelitian ini menggunakan metode kuantitatif dengan mengolah data primer yang dihimpun dari kuesioner yang diberikan kepada 100 masyarakat muslim kota Salatiga yang dijadikan sebagai sampel penelitian. Alat analisis yang digunakan adalah regresi linear berganda dengan bantuan aplikasi SPSS 26. Metode analisis data meliputi uji instrumen, uji asumsi klasik, dan uji hipotesis. Hasil penelitian ini menunjukkan bahwa persepsi kemudahan dan pendapatan berpengaruh positif signifikan terhadap minat sedekah non tunai. Sedangkan religiositas tidak berpengaruh terhadap minat sedekah non tunai. Serta kepercayaan mampu memoderasi pengaruh persepsi kemudahan, pendapatan, dan religiositas terhadap minat sedekah non tunai. 
Waqf Literacy: The Dynamics of Waqf in Indonesia Ahmad Lukman Nugraha; Adib Susilo; Miftahul Huda; Mohamad Anton Athoillah; Chaerul Rochman
Journal of Islamic Economics and Finance Studies Vol 3, No 2 (2022): JIEFeS, December 2022
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v3i2.5082

Abstract

In the history of Islamic civilization, waqf has been a pillar of the glory of Islam. The function of waqf is as a provider of public facilities and social facilities that support the life of the Muslim community, such as mosques, squares, Islamic schools, cemeteries and public roads. The development of waqf in Indonesia can have an influence on fiscal policy, namely through cash waqf. Even though Indonesia has a fairly large waqf potential, Indonesia has not been able to manage its waqf properly. Therefore, studies related to the development of waqf in Indonesia are still an interesting study for both scientists and practitioners. The purpose of this article is to review the development of waqf in Indonesia. The approach used in this paper is descriptive qualitative. The author finds the development of waqf in Indonesia is very dynamic. It can be seen from the existing phenomena, the dynamics of the waqf fatwa and the products being donated are increasingly diverse. At first, waqf only wallowed in fixed assets such as land, schools, Islamic boarding schools, and buildings that had a static nature. Beginning with the 2004 waqf law, waqf objects were transformed into cash waqf which were more practical and productive. Followed by the establishment of BWI in the same year by the Government led to an increase in the administrative management of waqf. Dalam sejarah peradaban Islam, wakaf pernah menjadi penopang kegemilangan Islam. Fungsi wakaf sebagai penyedia fasilitas umum dan fasilitas sosial yang menopang kehidupan masyarakat muslim, seperti masjid, lapangan, madrasah, kuburan dan jalan umum. Perkembangan wakaf di Indonesia dapat memberikan pengaruh terhadap kebijakan fiskal yakni melalui wakaf tunai. Meskipun Indonesia memiliki potensi wakaf yang cukup besar, namun Indonesia belum dapat mengelola wakafnya dengan baik, Oleh karena itu kajian terkait perkembangan wakaf di Indonesia masih saja menjadi kajian yang menarik baik di kalangan akademisi maupun praktisi. Tujuan dari artikel ini adalah untuk mengkaji bagaimana perkembangan wakaf di Indonesia. Pendekatan yang digunakan dalam makalah ini ialah kualitatif deskriptif. Penulis menemukan perkembangan wakaf di Indonesia sangat dinamis. Terlihat dari fenomena yang ada, dinamika fatwa wakaf dan pengembangan jenis aset yang diwakafkan semakin beragam. Pada awalnya, wakaf hanya berkubang pada aset tidak bergerak sepeti tanah, sekolah, pesantren, bangunan yang memiliki sifat statis. Diawali dengan undang-undang wakaf tahun 2004, benda wakaf bertransformasi menjadi wakaf tunai yang lebih bersifat praktis dan produktif. Disusul dengan pembentukan BWI pada tahun yang sama oleh Pemerintah menimbulkan peningkatan pengelolaan wakaf secara administratif.
The Contribution of Zakat, Infaq, Sadaqa, and Waqf (Ziswaf) Strategic Management in Developing the Prosperity of Ummah
Journal of Islamic Economics and Finance Studies Vol 4 No 1 (2023): JIEFeS, June 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i1.5698

Abstract

As a country with the largest muslim population in the world, Indonesia is still far behind in developing the potential of zakat, infaq, sadaqa, and waqf (ziswaf) which should be optimized. This requires a mature strategy in managing to maximize the potential of ziswaf. This study aims to examine the development of ziswaf strategic management at the Baitul Al-Qur'an Social Fund Institution (LDSBQ) which has a vision and mission based on Islamic sharia and aims to prosper the Ummah. This research uses a qualitative approach with a descriptive analysis method, while the data collection instruments use interviews, observation, and documentation. Sources were taken from various references related to the topic of the problem, namely journals, books, and other articles. The results showed that the three main programs of LDSBQ are First, scholar smile; engaged in education. Second, smile healthy; is engaged in the health sector. Third, independence smile; which is a movement for community independence in the economic field, and is supported by social-religious activities such as waqf and da'wah programs. While the fundraising strategy uses a potential network of student and teacher guardians, a network of Gontor alumni colleagues, program socialization through social media, online and offline donation services, and program-based waqf. With a real sector-based movement, social community activities can have a significant impact on the welfare of the ummah to gain happiness in this world and the hereafter.
Measuring the Potential Integration of Indonesian Sharia Capital Market with the OIC Member Countries Anita; Asep Dadan Suganda; Ratu Humaemah
Journal of Islamic Economics and Finance Studies Vol 4 No 1 (2023): JIEFeS, June 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i1.5765

Abstract

The Indonesian Composite Index (ICI) experienced a critical session, the data showed the ICI fell by 6.58% which was the biggest decline in the last 9 years. The prevailing notion was that this pressure stemmed from the prevalence of the Covid-19 concern and is anticipated to be alleviated once Covid-19 disseminates further. The purpose of this study is to determine the causality and long-term cointegration relationship between sharia stock in Indonesia and the Organization of Islamic Cooperation (OIC) member countries, as well as to determine the contribution of shares of OIC member countries, such as Egypt, Oman, Saudi Arabia, Kuwait, Turkey, Bahrain, and Malaysia in the collapse of the Islamic capital market in Indonesia. The method used in this research is quantitative by using secondary data in the form of daily prices of the Sharia index sourced from the website www.investing.com. The population of the countries related to this research is 56 members of the OIC that are active until 2021. For data analysis, several tests were conducted, such as; Testing Time Series Data, Vector Autoregressive (VAR), Granger Causality Test, Johansen Model Cointegration Test, and Contagion Effect Test. The study found that; has not been able to prove the existence of cointegration between the Indonesian Islamic stock exchange and the stock exchanges of OIC member countries other than the Malaysian stock exchange. However, this study proves the interdependence between the Malaysian and Indonesian Islamic stock exchanges, but in the long term, the contribution of the Indonesian stock exchange is greater than the Malaysian Islamic stock index. In addition, another finding was that during the Covid-19 shock, the Malaysian stock position index showed more independence, whereas the decline that occurred at the beginning of the pandemic was caused without the JII or ISSI intervention index.
Shareholder or Investment Account Holder Interest: Which One Does Management of Islamic Banks Pay Attention to? Sepky Mardian
Journal of Islamic Economics and Finance Studies Vol 4 No 1 (2023): JIEFeS, June 2023
Publisher : Universitas Pembangunan Nasional Veteran Jakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.47700/jiefes.v4i1.5790

Abstract

Governance and performance studies are often viewed from the perspective of shareholders, including in Islamic banks. However, the Investment Account Holders (IAH) are equally important stakeholders. Profit-sharing contracts, the absence of representation in the Annual General Meeting, and larger fund amount place the IAH at greater risk. In reality, the impact of governance should also prioritize protecting their interests. This study examines the effect of implementing corporate governance on the performance of Islamic banks from the perspective of shareholders and IAHs. This study tabulates data from the annual reports of 14 Indonesian Islamic banks. This research has found that Islamic bank governance has no effect on performance from the perspective of IAHs. On the other hand, governance can significantly influence performance from a shareholder perspective. From the perspective of stakeholder theory, these findings explain that Islamic banks have not made IAHs the main party to pay attention to. Business policies and strategies that are overseen by corporate governance have not had an impact on wider stakeholders. The IAHs in Islamic banks should also be categorized as key stakeholders.

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