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Islamic Corporate Social Responsibility Effect on Financial Performance and Reputation In OJK-Listed Banks Rizwanti, Jihan Dwi; Maknuun, Lu’lu’ Il; Yusri Aftian, Rahman
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023): INVEST - Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.5991

This study investigates the impact of Islamic Corporate Social Responsibility (ICSR) on financial performance and corporate reputation in the context of Islamic commercial banks in Indonesia. Specifically, it examines how ICSR affects return on assets (ROA) and return on equity (ROE) as indicators of financial performance and deposits from customers (DPK) as a measure of firm reputation. The research uses data from the annual reports of nine Shariah commercial banks over five years, from 2015 to 2019. The results show that ICSR does not significantly affect ROA, indicating a limited impact on banks' asset-based financial performance. However, ICSR has a positive effect on ROE, suggesting that it enhances investor confidence and contributes positively to equity-based financial performance. In contrast, the study concludes that ICSR does not have a significant impact on corporate reputation, suggesting the complexity of factors that influence public perception beyond ICSR activities. This research provides valuable insights into the differential impact of ICSR on different dimensions of Islamic commercial banks' performance and highlights potential areas for further research in the field of corporate social responsibility and financial management in the Islamic banking sector.

Shariah Framework Based on Qualities of Shariah Scholars Towards Islamic Fatwa Shopping in Nigeria Yakasai, Umar Musa; Muhamad, Tijjani
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023): INVEST - Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.6498

This study examines the characteristics of Islamic scholars in issuing fatwas, highlighting concerns that financial institutions may seek fatwas aligning with their profit-driven motives, potentially contradicting Islamic principles. Focusing on Nigeria, it assesses the qualifications of advisors and supervisors in Islamic financial institutions and examines their link to the issuance of fatwas. Gathering insights from 250 randomly selected Shariah scholars and students, the research employs structural equation modeling (SEM) for analysis. The reliability of survey responses was assessed using a 5-point Likert scale. The consistency of the data was verified using mean-variance extracted, composite reliability, and Cronbach's alpha. SEM was used to assess the relationship between scholars' qualifications and the issuance of fatwas. The results underscore the importance of attributes such as knowledge, piety, sincerity, honesty, and legal responsibility in the issuance of fatwas, reflecting broader concerns about fatwa shopping. The study's scope was limited to Nigeria, focusing on scholars' perceptions of fatwa shopping

Digital Transformation of Bank Syariah Indonesia Services and Its Impact on Financial Inclusion Abdulloh, Muhamad
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023): INVEST - Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.6977

Islamic financial inclusion is the openness of providing access and use of a variety of convenient and affordable financial services by sharia. In supporting the realization of the Sharia financial inclusion target and the Indonesian Sharia Banking Development Roadmap (RPSI) for 2020-2025, Bank Syariah Indonesia strives for customer convenience and comfort by providing access to various products and services digitally. The research method uses a type of qualitative descriptive research with a library research method. The types of data used are primary data and secondary, primary data obtained from BSI's official website and result reports, secondary data obtained from other people's research, documentation data, and studies relevant to this study. The purpose of the study was to determine 1) the level of financial literacy index and Islamic financial inclusion index in Indonesia. 2) to recognize Bank Syariah Indonesia's efforts in seeking Sharia financial inclusion targets and the Indonesian Sharia Banking Development Roadmap (RPSI) for 2020-2025. The results showed that the level of Islamic financial literacy and inclusion index in 2022 increased to 9.14% and 12.12% from the previous 8.93% and 9.10%

Does Service Innovation, Reputation Risk, and Word of Mouth Impact Customer Behavior in Choosing Islamic Banking? An Empirical Evidence in Indonesia Widayanti, Ipuk
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023): INVEST - Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.7092

Indonesia is a country with the largest Muslim population in the world. However, since Islamic banks were established in Indonesia in about 20 years, the participation of Muslims in using Islamic banks is relatively low. The purpose of this study is to analyze and find out the impact of service innovation, reputation risk, and word of mouth on customer behavior in choosing Islamic banks as a place for financing, investing, and so on. The research method uses quantitative. with an experimental and survey approach. Probability sampling of 250 questionnaires distributed to customers throughout Indonesia. The research findings show that service innovation and reputation risk have good external validity to the culture of Indonesian society. The most interesting finding is that the word-of-mouth variable greatly increases customer intention and participation in choosing an Islamic bank. Therefore, this research recommends targeting community leaders or opinion leaders to explain Islamic banking to the whole community.

The Influence of Argument Quality and Information Richness on Trust in Halal Cosmetic Reviews Rahma Haryono, Aufa Aviska; Susilowati, Fitriah Dwi; Mardiana, Lena; Rahmatika, Febrina; Rohmah, Resy Nur
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023): INVEST - Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.7113

In the digital age, halal cosmetic products are becoming increasingly popular. Online reviews play an important role in consumers' purchasing decisions, as they cannot see and check the quality of the products directly, but only through the screens of their gadgets. Under Islamic law, the consumption of halal cosmetics is not only obligatory but also a lifestyle choice. The purpose of this study was to examine the effect of argument quality and information richness on perceptions of information quality and trustworthiness of halal product reviews on the Shopee platform. We utilized a survey design involving 120 participants and applied ANOVA with a regression approach for analysis. Our results show that argument quality and information richness have a positive impact on perceived information quality. Furthermore, perceived information quality positively affects trust in halal product reviews. The results highlight the importance of providing high quality arguments and information in online reviews to increase consumer trust in halal cosmetic products. Furthermore, this study highlights the role of the Shopee platform in shaping consumer perceptions of online reviews, especially in the context of halal cosmetics. Marketers can use these findings to enhance their brand credibility and increase consumer trust through high-quality online product reviews. This study is useful for muslim marketers so that they can increase sales by motivating consumers to provide quality reviews that can be adopted by other consumers.

Budgeting From an Islamic Green Economy Perspective in Local Development Cahyani, Yutisa Tri; Santoso, Lukman; Ma'mun, Sukron
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023): INVEST - Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.7542

Global climate change and environmental problems significantly threaten the Earth's ability to support human needs and well-being. This crisis is exacerbated by increased economic development activities that rely heavily on the exploitation of natural resources. Indonesia, facing similar challenges, requires the implementation of a sustainable and environmentally friendly economic model. This study examines budgeting in the context of local government budget documents and regional development reports, focusing on the integration of green economic principles in the Mataraman region of East Java, Indonesia. Using a qualitative approach, the research examines local government budget and economic development reports from Madiun City and Ponorogo Regency. It involves a comprehensive analysis of both primary and secondary sources related to local development and budgeting. The findings aim to contribute to the promotion and acceleration of green economic development in the region, thereby influencing the allocation of resources to foster an inclusive and prosperous community.

Reflection of Local Wisdom Values behind Accounting Practices in Tumbilotohe Culture Thalib, Mohamad Anwar; Briando, Bobby
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023): INVEST - Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.7585

This study explores the integration of local wisdom into accounting practices in the Tumbilotohe culture, framed within an Islamic paradigm and using an Islamic ethnomethodological approach. Data were collected through structured interviews, passive participant observation, and documentary analysis using a qualitative methodology. These were analyzed through the stages of charity, knowledge, faith, revelation information, and courtesy. The findings reveal that the Tumbilotohe Implementation Committee self-funded its activities through accounting practices that are deeply intertwined with values of sincerity, struggle, and sacrifice that are emblematic of the Gorontalo tribe's cultural and Islamic traditions. Central to these traditions is the vow "batanga pomaya, nyawa podungalo" (the self is devoted, life is at stake), which is part of the "Paduma" - five sacred agreements symbolizing the tribe's commitment to their land, including prioritizing religion, glorifying the land, devoting oneself to the land, sacrificing property, and risking life. The study concludes that accounting practices in the Tumbilotohe cultural celebration transcend mere financial transactions and are significantly influenced by local wisdom and religious values. This reflects the community's commitment to preserving their culture and embodying Paduma principles in organizing and defending their heritage, and provides a nuanced understanding of the role of cultural and religious values in shaping accounting practices in the Gorontalo community.

Islamic Corporate Social Responsibility Effect on Financial Performance and Reputation In OJK-Listed Banks Rizwanti, Jihan Dwi; Maknuun, Lu’lu’ Il; Yusri Aftian, Rahman
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.5991

This study investigates the impact of Islamic Corporate Social Responsibility (ICSR) on financial performance and corporate reputation in the context of Islamic commercial banks in Indonesia. Specifically, it examines how ICSR affects return on assets (ROA) and return on equity (ROE) as indicators of financial performance and deposits from customers (DPK) as a measure of firm reputation. The research uses data from the annual reports of nine Shariah commercial banks over five years, from 2015 to 2019. The results show that ICSR does not significantly affect ROA, indicating a limited impact on banks' asset-based financial performance. However, ICSR has a positive effect on ROE, suggesting that it enhances investor confidence and contributes positively to equity-based financial performance. In contrast, the study concludes that ICSR does not have a significant impact on corporate reputation, suggesting the complexity of factors that influence public perception beyond ICSR activities. This research provides valuable insights into the differential impact of ICSR on different dimensions of Islamic commercial banks' performance and highlights potential areas for further research in the field of corporate social responsibility and financial management in the Islamic banking sector.

Shariah Framework Based on Qualities of Shariah Scholars Towards Islamic Fatwa Shopping in Nigeria Yakasai, Umar Musa; Muhamad, Tijjani
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.6498

This study examines the characteristics of Islamic scholars in issuing fatwas, highlighting concerns that financial institutions may seek fatwas aligning with their profit-driven motives, potentially contradicting Islamic principles. Focusing on Nigeria, it assesses the qualifications of advisors and supervisors in Islamic financial institutions and examines their link to the issuance of fatwas. Gathering insights from 250 randomly selected Shariah scholars and students, the research employs structural equation modeling (SEM) for analysis. The reliability of survey responses was assessed using a 5-point Likert scale. The consistency of the data was verified using mean-variance extracted, composite reliability, and Cronbach's alpha. SEM was used to assess the relationship between scholars' qualifications and the issuance of fatwas. The results underscore the importance of attributes such as knowledge, piety, sincerity, honesty, and legal responsibility in the issuance of fatwas, reflecting broader concerns about fatwa shopping. The study's scope was limited to Nigeria, focusing on scholars' perceptions of fatwa shopping

Digital Transformation of Bank Syariah Indonesia Services and Its Impact on Financial Inclusion Abdulloh, Muhamad
Invest Journal of Sharia & Economic Law Vol. 3 No. 2 (2023)
Publisher : Institut Agama Islam Negeri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/invest.v3i2.6977

Islamic financial inclusion is the openness of providing access and use of a variety of convenient and affordable financial services by sharia. In supporting the realization of the Sharia financial inclusion target and the Indonesian Sharia Banking Development Roadmap (RPSI) for 2020-2025, Bank Syariah Indonesia strives for customer convenience and comfort by providing access to various products and services digitally. The research method uses a type of qualitative descriptive research with a library research method. The types of data used are primary data and secondary, primary data obtained from BSI's official website and result reports, secondary data obtained from other people's research, documentation data, and studies relevant to this study. The purpose of the study was to determine 1) the level of financial literacy index and Islamic financial inclusion index in Indonesia. 2) to recognize Bank Syariah Indonesia's efforts in seeking Sharia financial inclusion targets and the Indonesian Sharia Banking Development Roadmap (RPSI) for 2020-2025. The results showed that the level of Islamic financial literacy and inclusion index in 2022 increased to 9.14% and 12.12% from the previous 8.93% and 9.10%

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name
Soleh Hasan Wahid

Contact Email
wahid@iainponorogo.ac.id

Phone
+6281335727774

Journal Mail Official
invest@iainponorogo.ac.id

Editorial Address
Jl. Puspita Jaya, Krajan, Pintu, Kec. Jenangan, Kabupaten Ponorogo, Jawa Timur 63492

Location
Kab. ponorogo,

Jawa timur

INDONESIA

Abstract

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Abstract

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Soleh Hasan Wahid

Contact Email wahid@iainponorogo.ac.id

Phone +6281335727774

Journal Mail Official invest@iainponorogo.ac.id

Editorial Address Jl. Puspita Jaya, Krajan, Pintu, Kec. Jenangan, Kabupaten Ponorogo, Jawa Timur 63492

Location Kab. ponorogo, Jawa timur INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Soleh Hasan Wahid

Contact Email
wahid@iainponorogo.ac.id

Phone
+6281335727774

Journal Mail Official
invest@iainponorogo.ac.id

Editorial Address
Jl. Puspita Jaya, Krajan, Pintu, Kec. Jenangan, Kabupaten Ponorogo, Jawa Timur 63492

Location
Kab. ponorogo,

Jawa timur

INDONESIA