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Dadang Husen Sobana
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Program Studi Manajemen Keuangan Syariah Fakultas Ekonomi dan Bisnis Islam UIN Sunan Gunung Djati Bandung Jl. AH. Nasution No 105 40614 Bandung
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Finansha: Journal of Sharia Financial Management
Published by UIN Sunan Gunung Djati Bandung
ISSN : 27750868     EISSN : 27742687     DOI : https://doi.org/10.15575/fsfm.v1i2
Core Subject : Economy,
Economics, Econometrics & Finance
This journal aims to broaden and create innovative concepts, theories, paradigms, perspectives, and methodologies within the scope mentioned above. The scope of this journal will include but is not limited to Islamic economics, sharia business, Islamic banking, Islamic capital market, Islamic wealth management, issues of implementation/practice of sharia banking, zakat, and waqf, takaful, corporate sharia finance, management. Sharia-compliant risks, Islamic derivatives, Sharia Supervisory Board issues, Islamic business ethics, Islamic accounting, and Islamic auditing.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 100 Documents
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EXPLORING SHARIA-BASED MSME DEVELOPMENT STRATEGIES THROUGH THE UTILIZATION OF MAJOO POINT OF SALE TECHNOLOGY Nasir, Abdul; Rismaya, Erin
Finansha: Journal of Sharia Financial Management Vol. 5 No. 2 (2024): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v5i2.41732

Abstract

This study examines how Sharia economics integration in the MSME business model can be optimized using Majoo POS technology. In the era of globalization and rapidly developing information technology, Micro, Small, and Medium Enterprises (MSMEs) based on the Sharia economy need to continue to develop strategies to expand their markets and improve operational efficiency. MSMEs are the backbone of the national economy, but many face financial management and marketing challenges. The method used is a descriptive qualitative to identify the potential and challenges in implementing this strategy and provide recommendations for MSME actors and related stakeholders. The study results indicate that applying Sharia economics supported by Majoo POS technology can increase the competitiveness of MSMEs and positively contribute to the national economy. Majoo POS technology offers features that facilitate transaction recording, stock management, and real-time data analysis, which can improve the operational efficiency of MSMEs. The practical implications of this study are the importance of government and financial institution support in providing access and training related to technology for MSMEs based on the Sharia economy.
BIBLIOMETRIC ANALYSIS AND MAPPING OF GREEN BRANDING AND CONSUMPTION BEHAVIOR RESEARCH DEVELOPMENTS Anwar, Dini Daraini; Yanti, Setianti; Warta, Waska
Finansha: Journal of Sharia Financial Management Vol. 6 No. 1 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i1.41783

Abstract

The increasing public awareness and concern about environmental issues has shifted the tendency of consumers to choose a product more selectively, the rise in environmental concerns has also led to emergence of green branding concept. The research used bibliometric analysis  of the scholarly discourse surrounding green branding from the years 2010 to 2024, utilizing the Scopus database to examinate the large data about various papers included in this study. Biblioshiny and VOSviewer software were used to analyse keyword co-occurrence and co-authorship in this topic. The result showing that the largest number of papers on green branding appeared in 2024, indicating there’s a growing academic interest in green branding topic. This study contributes to enhancing direction for researchers to examine the topic of green branding by offering the details of the journals information, authors, and countries that hold significant role in the green branding study alongside the terminology that frequently employed in green branding studies
TEST THE REACTION OF THE BANK SYARIAH INDONESIA STOCK MARKET (STUDY OF EVENTS PP MUHAMMADIYAH DECIDED TO WITHDRAW CUSTOMER FUNDS) Sopian, Adi; Purnomo, Budi Supriatono; Purnamasari , Imas
Finansha: Journal of Sharia Financial Management Vol. 6 No. 1 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i1.42873

Abstract

This study aims to examine the differences in abnormal returns and trading volume activity before and after the announcement of the Muhammadiyah Central Leadership (PP Muhammadiyah) memo regarding the consolidation of member funds, which are not to be concentrated in Bank Syariah Indonesia (BSI). The research method used is an event study method with a paired sample t-test to assess the significance of differences between the periods before and after the announcement. The data utilized include abnormal returns and trading volume activity for 10 days before and after the event. The results of this study indicate no significant difference in abnormal returns before and after the announcement. This suggests that the PP Muhammadiyah memo did not affect stock returns, as shareholders still trust the credibility of BSI's management, disregarding external influences. However, in terms of trading volume activity, there is a significant difference between the periods before and after the announcement. This is due to a decline in trading volume after the announcement, as shareholders observe the situation of BSI stock trading before deciding to buy or sell shares.
MACROECONOMIC DETERMINANTS OF NON-PERFORMING LOANS IN INDONESIA'S PEER-TO-PEER LENDING SECTOR Agustin, Afiqoh
Finansha: Journal of Sharia Financial Management Vol. 6 No. 1 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i1.45136

Abstract

The emergence of peer-to-peer (P2P) lending as a fintech innovation in Indonesia’s digital financial ecosystem has played a pivotal role in reshaping credit distribution, yet it has also coincided with a notable rise in non-performing loans (NPLs). While much of the existing literature focuses on traditional banking sectors, this study introduces a novel approach by concentrating exclusively on P2P lending—a relatively under-researched domain in Indonesia—in relation to macroeconomic dynamics. Specifically, it quantitatively investigates the impact of key macroeconomic indicators—economic growth, the benchmark interest rate (BI Rate), and the unemployment rate—on the occurrence of NPLs within P2P platforms. Utilizing quarterly time series data spanning from Q1 2020 to Q4 2024, sourced from Statistics Indonesia (BPS) and the Financial Services Authority (OJK), the study employs multiple linear regression analysis. The findings reveal that the three macroeconomic variables jointly exert a statistically significant effect on NPLs (F-test = 0.002). However, on an individual basis, only economic growth demonstrates a significant negative influence (p = 0.000), whereas the BI Rate and unemployment rate do not yield significant effects (p = 0.208 and 0.488, respectively). This research underscores the heightened sensitivity of P2P lending to shifts in economic performance and contributes to the academic discourse by highlighting the importance of developing adaptive, fintech-specific credit risk models in response to evolving macroeconomic conditions.
STRATEGIC MANAGEMENT FOR CHARACTER EDUCATION STRENGTHENING IN NON-FORMAL EDUCATION: A CASE STUDY OF PKBM LABORA EDUKASI Kesumayani, Heni
Finansha: Journal of Sharia Financial Management Vol. 6 No. 1 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i1.45181

Abstract

While character education has received increasing policy attention in Indonesia, limited research has examined how Pusat Kegiatan Belajar Masyarakat (PKBM), or Community Learning Centers—particularly those serving marginalized populations—strategically manage character development initiatives. This study investigates PKBM Labora Edukasi in Bogor, which employs a three-phase strategic model—planning, implementation, and evaluation—through contextual and collaborative approaches. Adopting a descriptive qualitative methodology, data were collected through in-depth interviews, participant observation, and document analysis to evaluate the implementation of the Character Education Strengthening Program (CESP). The program embeds character values into daily learning routines, utilizes tutors as role models, fosters partnerships with local Islamic boarding schools and private companies, and engages learners in context-based, experiential activities. The results indicate significant improvements in learner discipline, religiosity, civic engagement, and entrepreneurial mindset. These findings underscore the critical role of multi-stakeholder collaboration and contribute to the literature on strategic educational management by offering an adaptable framework for character education in resource-constrained, non-formal settings. The study highlights the potential for hybrid governance models to bridge national policy ambitions and grassroots realities, and it advocates for increased policy recognition and replication of such models in similar socio-educational contexts.
AN ANALYSIS OF THE BUSINESS FEASIBILITY STUDY OF KOPIEMAS COFFE SHOP IN BANDUNG Aulia, Amar Ali; Muhammad, Raji Rahma
Finansha: Journal of Sharia Financial Management Vol. 6 No. 2 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i2.45794

Abstract

This study aims to conduct a comprehensive feasibility analysis of Kedai Kopiemas, a micro and small enterprise located in Bandung, by evaluating marketing, production, human resource management, financial performance, and strategic (SWOT) aspects. The rapid growth of coffee shop businesses in urban areas underscores the need for an integrated feasibility assessment to ensure sustainability, particularly in financial and managerial dimensions. Using a descriptive analytical approach, this study combines qualitative data obtained from interviews and observations with quantitative data derived from financial records. The findings indicate that Kopiemas is highly feasible to operate and develop. Financial indicators show a positive Net Present Value (NPV) of IDR 41,784,810.77 (discount rate 16%) and an Internal Rate of Return (IRR) exceeding 20%, both of which confirm strong investment viability. Non-financial aspects further support this conclusion: the business benefits from an efficient competency-based HR structure and competitive strengths identified through SWOT analysis. This study contributes to MSME feasibility literature by offering an integrated assessment model that incorporates sharia-based sustainability principles, emphasizing the alignment between financial viability, ethical management, and community welfare.
ISLAMIC BANKING PERFORMANCE, FINANCIAL INCLUSION, AND HUMAN DEVELOPMENT: EVIDENCE FROM PROVINCIAL ISLAMIC BANKING IN INDONESIA Maddani Akhsa Nulyani; Nurfitri Harkunti Kemala Hayati; Amelia Fitri Harahap; Fadiyah Aulannisa; Nisfi Nuur Lailatin
Finansha: Journal of Sharia Financial Management Vol. 6 No. 2 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i2.46221

Abstract

Islamic banking, founded on unique ethical principles, is increasingly acknowledged as a key driver of sustainable development. This study explores the relationship between Islamic banking performance, financial inclusion, and the Human Development Index (HDI) in Indonesia. Employing quantitative methods, panel data from 33 provinces spanning 2016, 2019, and 2022 were obtained from the Financial Services Authority (OJK) and the Central Statistics Agency (BPS). Path analysis was conducted using STATA 17 to investigate the direct and indirect effects of Islamic banking performance on HDI, with financial inclusion as a mediating variable. Findings reveal that bank size, as a performance indicator, negatively impacts HDI directly, and this adverse effect is intensified through financial inclusion. Conversely, Third-Party Funds (TPF) exhibit a positive direct association with HDI, also mediated by financial inclusion, highlighting the importance of accessible financial resources in enhancing human development. These findings suggest Islamic banking can support sustainable development by enhancing human development, especially when financial inclusion is prioritized. Policymakers and Islamic financial institutions should focus on expanding financial access to marginalized groups, and to innovate products tailored to their needs. This study contributes valuable insights into optimizing Islamic banking’s role in achieving broader socio-economic goals in Indonesia.
INTEGRATING ISLAMIC MACROECONOMIC PRINCIPLES IN ANALYZING LABOR AND INFLATION AS DETERMINANTS OF INDONESIA’S INTERNATIONAL TRADE Rozak, Abdul; Minhajuddin, Minhajuddin; Jerfiani, Dhenahi; Zainol, Fakhrul Anwar
Finansha: Journal of Sharia Financial Management Vol. 6 No. 2 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i2.49439

Abstract

This study examines the role of labor and inflation as Islamic macroeconomic determinants of Indonesia’s international trade during the period 2018–2022, offering an integrated empirical perspective that connects conventional trade theory with Islamic economic principles. It introduces an Islamic macroeconomic framework to assess labor and price stability as instruments of distributive justice and sustainable economic performance. Using a quantitative approach and multiple linear regression on secondary data from Statistics Indonesia and the World Bank, this study analyzes the relationship between annual export values, labor force participation, and inflation rates. The findings indicate that inflation has a statistically significant and negative effect on international trade, confirming that persistent price instability weakens export competitiveness. In contrast, labor shows a positive but statistically insignificant effect, suggesting that workforce growth has not been accompanied by proportional improvements in productivity. The regression model explains 61.4% of the variation in trade performance and is significant at the 10% level. Theoretically, the results reflect a divergence from conventional economic assumptions and underscore the relevance of Islamic macroeconomic instruments—such as justice (‘adl), equilibrium (tawazun), and welfare (maslahah)—in explaining trade dynamics. Practically, the study provides policy insights for designing Islamic macroeconomic strategies that integrate human capital development and ethical inflation management as pathways toward fair, stable, and sustainable trade. Overall, these findings contribute to the growing literature by empirically validating Islamic macroeconomic perspectives as a viable framework for strengthening economic resilience and social equity in Indonesia’s trade policy.
DETERMINANTS OF ATTITUDE AND ADOPTION INTENTION OF ISLAMIC FINANCING IN TASIKMALAYA: A BEHAVIORAL INTENTION FRAMEWORK APPROACH Andani, Listia; Mutmainah, Lu'liyatul; Hidayat, Deny; Berakon, Izra
Finansha: Journal of Sharia Financial Management Vol. 6 No. 2 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i2.50276

Abstract

This study explores the determinants of Muslim entrepreneurs’ intention to adopt Islamic finance in Tasikmalaya using the extended Theory of Planned Behavior (TPB). It examines the roles of religiosity, awareness, financial literacy, knowledge, attitude, subjective norms, and perceived behavioral control. A quantitative approach was applied, with purposive sampling of 250 respondents who had not previously adopted Islamic financing. Data were analyzed using Partial Least Squares Structural Equation Modeling (PLS-SEM). The results indicate that attitude, subjective norms, and perceived behavioral control significantly shape the intention to adopt Islamic finance. Mediation analysis further reveals that attitude mediates the effects of religiosity, awareness, and financial literacy on adoption intention, whereas knowledge shows no significant influence. These findings highlight that internal factors only foster adoption intention when translated into positive attitudes toward Islamic financial products. Theoretically, this study extends TPB by incorporating religiosity, awareness, and financial literacy as essential predictors. Practically, it suggests that Islamic financial institutions should strengthen financial literacy programs, emphasize religious values, and enhance awareness campaigns to build favorable attitudes and increase adoption. Although limited to one region and a cross-sectional design, the study lays a foundation for future research using longitudinal approaches and exploring additional variables such as trust and perceived risk.
LISTENING TO UNLIMITED MUSIC: PEOPLE'S PERSPECTIVES ON WILLINGNESS TO PAY FOR PREMIUM USING SPOTIFY IN INDONESIA Pawestri, Meidi Kalvina Dwi; Alfansi , Lizar
Finansha: Journal of Sharia Financial Management Vol. 6 No. 2 (2025): Finansha: Journal of Sharia Financial Management
Publisher : UIN Sunan Gunung Djati Bandung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.15575/fjsfm.v6i2.51012

Abstract

This study examines the psychological determinants that shape consumers’ willingness to pay for Spotify Premium in Indonesia. It investigates how the need for closure influences willingness to pay, with deal proneness tested as a moderating variable, and explores how self-brand connection affects willingness to pay through intransigent brand attitude. Data were collected from 220 active Spotify Premium users and analyzed using Structural Equation Modeling (SEM) with SmartPLS. The results reveal that the need for closure positively influences willingness to pay, whereas deal proneness does not moderate this relationship. Additionally, self-brand connection strongly enhances intransigent brand attitude, which in turn mediates its effect on willingness to pay. These findings highlight that psychological motivations and emotional brand attachment are key drivers of premium service adoption. Theoretically, this study contributes to the literature by integrating cognitive and affective constructs—need for closure, deal proneness, and self-brand connection—into a unified model situated within the Indonesian digital market context. Practically, the results offer strategic implications for digital marketers, suggesting that strengthening emotional engagement and identity-based branding may be more effective for increasing user loyalty and willingness to pay than relying solely on short-term promotional strategies.

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