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AL-ARBAH: Journal of Islamic Finance and Banking
Published by Universitas Islam Negeri Walisongo Semarang
ISSN : 27163946     EISSN : 27162575     DOI : 10.21580/al-arbah
Core Subject : Economy,
Economics, Econometrics & Finance
AL-ARBAH: Journal of Islamic Finance and Banking is a peer-reviewed journal, published biannually by Department of Sharia Banking, Faculty of Islamics Economics and Business, Universitas Islam Negeri (UIN) Walisongo Semarang Indonesia. This journal is peer-reviewed journal by English language published twice a year (October and April) and specializes in Islamic Finance, Islamic Banking, and Islamic Finance Institutions.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Keuangan
Articles 7 Documents
 1 
Search results for , issue "Vol. 7 No. 1 (2025)" : 7 Documents clear
Blockchain and Value Co-Creation: Strategies to Improve Human Resource Performance in the Islamic Banking Industry Nurcahyo, Satria Avianda; Isnawati, Setya Indah; Purwatiningsih, Aris Puji; Rahmana, MA Irfan
AL-ARBAH: Journal of Islamic Finance and Banking Vol. 7 No. 1 (2025)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2025.7.1.23162

Abstract

Purpose - This study aims to explore how the application of blockchain technology can contribute to improving human resource (HR) performance through a value co-creation strategy at PT Bank Syariah Indonesia, Central Java Province. This study uses a qualitative approach with an in-depth interview method with employees at the managerial level to collect relevant data. Blockchain, as a technology known for its security and transparency, is expected to improve operational efficiency and collaboration between departments, which in turn has an impact on improving HR performance. Method - The method used in this study is qualitative, which is a research approach used to understand social phenomena in depth, from a complex and contextual perspective. In qualitative research, data is collected in a way that allows researchers to explore the feelings, thoughts, and experiences of respondents, and to understand the context in which the phenomenon occurs. Result - This study identified that blockchain can improve trust and communication between management and employees, creating a more cooperative and dynamic work environment. This allows companies to respond to market changes more quickly and efficiently. The study also revealed that blockchain can reduce administrative and operational costs through the automation of processes that previously required human intervention, such as payroll and contract management. The study concluded that value co-creation strategies supported by blockchain technology can be an effective tool in improving HR performance in the Islamic Banking industry. Implication - Recommendations for further implementation include training and developing employee skills in using blockchain technology as well as improving the company's information technology infrastructure to support this digital transformation. Originality - Blockchain, as a technology known for its security and transparency, is expected to improve operational efficiency and collaboration between departments, which in turn has an impact on improving HR performance. The findings of this study indicate that the implementation of blockchain can strengthen the HR management system through the creation of shared value (value co-creation) between management and employees. Keywords:           Blockchain, Value Co-Creation, HR Performance, Islamic Banking Industry.
The Relationship Between Interest Rates And Per Capita Income To Third Party Deposits (TPF) In Islamic Commercial Banks And Islamic Business Units In The Period 2010 - 2023 Rahma Yuniarti P, Talitha
AL-ARBAH: Journal of Islamic Finance and Banking Vol. 7 No. 1 (2025)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2025.7.1.24145

Abstract

Purpose - This study was conducted to determine the effect of interest rates and per capita income on the amount of third party fund deposits in Islamic commercial banks and Islamic business units in the period 2010-2023. Method - There are 3 variables used to analyze the influence between variables in the short and long term using quantitative methods. Quantitative methods are used to conduct VECM analysis on variables obtained and processed from secondary statistical data found on the official website of the Financial Services Authority (OJK). Result - The results of the study indicate that the interest rate variable has a significant effect on the amount of Third Party Fund (DPK) deposits in the short term. Meanwhile, interest rates and per capita income simultaneously affect DPK deposits in BUS and UUS in the long term. Implication - This is in line with the statement of the Classical Theory regarding the interest rate level can affect the amount of deposits in banks. Originality - This paper examines the relationship between interest rates and per capita income on third party fund deposits in order to maintain liquidity and stability in BUS and UUS. Keywords:                     Interest Rate, Per Capita Income, DPK, Classical Theory, VECM.  
The Impact Of Islamic Banking On Financial Inclusion In Developing Countries: A Systematic Literature Review Fathihani; Wafi, Inngamul; Riska Rosdiana
AL-ARBAH: Journal of Islamic Finance and Banking Vol. 7 No. 1 (2025)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2025.7.1.25711

Abstract

Purpose - This literature review aims to systematically analyze and synthesize existing research on the impact of Islamic banking on financial inclusion in developing countries, with a specific focus on four Southeast Asian nations: Indonesia, Malaysia, Brunei Darussalam, and Singapore. The study seeks to identify key patterns, challenges, and opportunities in the relationship between Islamic banking development and financial inclusion outcomes. Method - The review employs a systematic literature review methodology, analyzing peer-reviewed articles, policy documents, and institutional reports published between 2013 and 2024. The analysis focuses on four key dimensions: regulatory frameworks, technological innovation, market penetration, and socio-economic impact. A structured content analysis approach was used to synthesize findings from 87 selected publications. Result - The review reveals a significant positive correlation between Islamic banking development and financial inclusion metrics across the studied countries. Malaysia demonstrates the most advanced integration of Islamic banking with financial inclusion initiatives, supported by comprehensive regulatory frameworks and technological innovation. Indonesia shows rapid growth potential but faces infrastructure challenges, while Brunei Darussalam exhibits high market penetration within a smaller market. Singapore's unique position as a regional Islamic finance hub contributes differently to financial inclusion through sophisticated product development and cross-border services. Implication - The findings suggest that successful integration of Islamic banking with financial inclusion objectives requires a holistic approach encompassing regulatory reform, technological advancement, and market development strategies. The review identifies best practices and lessons learned that can inform policy development in other developing nations seeking to leverage Islamic banking for financial inclusion. Originality - This review provides the first comprehensive cross-country analysis of Islamic banking's impact on financial inclusion in Southeast Asia, synthesizing recent empirical evidence and theoretical frameworks. It contributes to the literature by identifying patterns of successful implementation and challenges across different market contexts, offering valuable insights for policymakers and practitioners.
Analysis of the Influence of Ease and Usefulness on Interest in Using QRIS in Micro, Small and Medium Enterprises (MSMEs) in Jempong Baru Village Ismayadi
AL-ARBAH: Journal of Islamic Finance and Banking Vol. 7 No. 1 (2025)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2025.7.1.25791

Abstract

Purpose - This research aims tofor the Analysis of the Influence of Ease and Usefulness on Interest in Using QRIS in Micro, Small and Medium Enterprises (MSMEs) in Jempong Baru Village with the formulation of the problem to analyze the influence of ease on interest in using QRIS and analyze the influence of usefulness on interest in using QRIS which was carried out in Jempong Baru Village, Mataram City. Method - The types of research are:quantitative research type where quantitative research uses research based on postpositivism philosophy, used to research a particular population or sample. In this study, the sample taken used non-probability sampling technique. Non-probability sampling is a sampling technique that does not provide equal opportunities or chances for each member of the population to be selected as a sample. The sampling technique in this study used purposive sampling technique. Purposive sampling is a sampling technique with certain considerations. The number of samples was 30 MSMEs in Jempong Baru Village. The data obtained from the questionnaire was then processed using SPSS Version 16.0 software. Result - The results of this study indicate that the influence of the Ease Variable on the Interest Variable in using QRIS in Micro, Small and Medium Enterprises (MSMEs) in Jempong Baru Village, Mataram City is 83%. This means that the ease variable has a positive and significant influence on the Interest variable in using QRIS. This shows that the easier it is to use the QRIS service, the higher the interest in using the QRIS service. While the influence of the Benefit Variable on the Interest Variable in using QRIS in Micro, Small and Medium Enterprises (MSMEs) is 72% in Jempong Baru Village, Mataram City. This means that the benefit variable has a positive and significant influence on the Interest variable in using QRIS. This shows that the more benefits received and obtained by QRIS users, the higher the interest in using QRIS. Implication - This finding shows the important role of technology in supporting people's economic activities, especially in digital transaction activities. In addition, the role of technology increases efficiency, reduces costs, and creates new economic opportunities. This technology enables faster, safer, and more affordable transactions, as well as enabling wider access to markets and financial services. Originality - This analysis provides a more comprehensive explanation regardingEase and Benefits of Interest in Using QRISin Jempong Baru Village. This review contributes to the literature by identifying the convenience, benefits and weaknesses of QRIS in Jempong Baru Village.. Keywords:                     Convenience, Benefits, Interest, QRIS and MSMEs.
The Effect of Perceived Ease, Risk and Financial Literacy on the Use of QRIS as a Digital Payment in MSMEs Ida Riskawati; Mardhiyaturrositaningsih; Saekhu
AL-ARBAH: Journal of Islamic Finance and Banking Vol. 7 No. 1 (2025)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2025.7.1.26744

Abstract

Purpose - This study aims to examine the Influence of Perceived Ease, Perceived Risk and Financial Literacy on the Decision to Use the Quick Response Code Indonesian Standard (QRIS) as a Digital Payment in MSMEs. Method - This research is a quantitative research type with a sample of 100 MSMEs. This study uses multiple regression analysis to identify the Influence of Perceived Ease, Perception of Risk and Financial Literacy on the Decision to Use the Quick Response Code Indonesian Standard (QRIS) as Digital Payment in MSMEs. Result - The results of this study indicate that there is an influence between Perceived Ease, Perception of Risk and Financial Literacy on the Decision to Use QRIS. Implication - This study identifies the use of QRIS in MSMEs in Semarang. Originality - This paper identifies that there are factors of Perceived Ease, Perception of Risk and Financial Literacy as factors causing the decision of MSMEs in Semarang City to use QRIS digital payments. Keywords:           Financial Literacy, Perceived Ease, QRIS, Risk
Analysis of Factors Influencing Customers Decisions in Taking Murabahah Financing at Bank Muamalat Indonesia Rahmah, Mutiara; Muhlis, Muhlis; Vanni, Kartika Marella
AL-ARBAH: Journal of Islamic Finance and Banking Vol. 7 No. 1 (2025)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2025.7.1.26811

Abstract

Purpose - To study in more depth by identifying the factors that influence customer decisions in taking murabahah financing at Bank Muamalat Indonesia. Methods - The methods used are quantitative research with data collection through distributing questionnaires. Method - The method used in this study is qualitative, which is a research approach used to understand social phenomena in depth, from a complex and contextual perspective. In qualitative research, data is collected in a way that allows researchers to explore the feelings, thoughts, and experiences of respondents, and to understand the context in which the phenomenon occurs. Result - The results obtained are that the margin variables, customer knowledge and financing procedures, both partially and simultaneously, have a significant positive influence on customer decisions in taking murabahah financing at Bank Muamalat Indonesia. Implication - By understanding the factors that influence customer decisions, banks can expand the inclusion of sharia financing to unreached groups, especially in areas with low sharia financial literacy. Efficient and targeted murabahah financing can encourage the growth of the real sector and support an economy based on Islamic ethics. Originality - Specifically examines customer decisions on murabahah products at Bank Muamalat Indonesia as the first Islamic bank in Indonesia using a combination of relevant and contextual variables combined with the use of actual primary data based on direct customer experience. With the hope of filling the gap in previous research that has not linked these factors comprehensively in Islamic financial institutions. Keywords:                     Murabahah Financing, Margin, Customer Knowledge, Financing Procedure.
Systematic Literature Review: The Role of Insurance The journey of Sharia in Increase Protection Muslim Tourists Marshanda Ridia Amelia; Taufiqur Rahman
AL-ARBAH: Journal of Islamic Finance and Banking Vol. 7 No. 1 (2025)
Publisher : Universitas Islam Negeri (UIN) Walisongo Semarang

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21580/al-arbah.2025.7.1.26822

Abstract

Purpose - This article aims to examine and analyze the role of Islamic travel insurance in improving protection for Muslim tourists. Specifically, this study focuses on understanding the mechanism of Islamic insurance, as well as the extent to which this insurance is able to answer the needs and challenges of Muslim travelers in the context of halal travel.. Method - In this study, data search was conducted using the Systematic Literature Review (SLR) Method by summarizing findings from previous studies that are relevant to the research topic. The keywords from Indonesian used to search for data for this study are "Sharia Travel Insurance" and "Protection for Muslim Tourists". Result - Islamic travel insurance, based on the principle of takaful, provides protection for Muslim travelers through sharia-compliant mechanisms, such as tabarru and wakalah bil ujrah contracts. However, travelers still face various obstacles, such as a lack of understanding of takaful, limited coverage, and constraints in regulations and claim procedures. They need insurance coverage that covers important aspects, such as legal certainty that is free from gharar, maysir, and usury, as well as access to halal food and prayer facilities during the trip. Case studies reveal that defaults in Islamic travel insurance claims for Umrah pilgrims often occur due to a lack of transparency in the claim procedure. To increase traveler confidence, the insurance industry needs to design more inclusive products, improve regulations that support sharia compliance, and improve financial literacy so that protection for Muslim travelers is more optimal. Implication - This study used data from Google Scholar to identify related articles, with a total of 1,010 articles found in the initial stage. After a screening process based on the relevant year range, 270 articles were identified from journals published in the period 2020–2025 as the basis for initial selection. Further screening was carried out using the Open Refine application by considering the inclusion criteria that had been set. From the results of this process, 27 articles were obtained that were relevant to the research topic, with 8 of them having a high level of relevance to the research title. Originality - This study examines the mechanism of Islamic travel insurance and its role in meeting the needs and overcoming the challenges of Muslim travelers in halal travel. The discussion covers fundamental aspects, coverage, as well as regulatory barriers and claim procedures. In addition, this study evaluates innovative strategies in product development and increasing understanding of Islamic finance to ensure more effective protection for Muslim travelers. Keywords:                     Sharia Insurance, Insurance Sharia Travel, Protection Muslim Tourists.

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