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Fitra Rizal
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rizal@iainponorogo.ac.id
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+6281230038302
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etihad@iainponorogo.ac.id
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Fakultas Ekonomi dan Bisnis Islam IAIN Ponorogo Kampus II Jenangan Ponorogo Jawa Timur Indonesia 63492 Telp. (0352) 3576565 Fax. (0352) 3591451 E-mail: etihad@iainponorogo.ac.id
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Etihad: Journal of Islamic Banking and Finance
Published by Institut Agama Islam Negeri Ponorogo
ISSN : 2807730X     EISSN : 28076915     DOI : https://doi.org/10.21154/etihad
Core Subject : Religion, Economy, Humanities, Social,
Religion Humanities Economics, Econometrics & Finance Social Sciences
Etihad: Journal of Islamic Banking and Finance accepts original manuscripts in Islamic banking and finance (covering bank and non-bank financial institutions), manuscripts in the form of research reports, case reports, theory application, critical studies and literature reviews.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 6 Documents
 1 
Search results for , issue "Vol. 5 No. 1 (2025)" : 6 Documents clear
Analysis Cost of Fund, Cost of Loanable Fund, and Overhead Cost on Mudharabah Profit Sharing at Islamic Commercial Banks Apriliyani, Lisa; Yahya, Alvin
Etihad: Journal of Islamic Banking and Finance Vol. 5 No. 1 (2025)
Publisher : UIN Kiai Ageng Muhammad Besari Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/etihad.v5i1.9890

Abstract

Introduction: The operations of Islamic banks are based on the mudharabah profit-sharing system, which governs both fund collection and distribution. This system often leads to higher operational costs compared to conventional banks. The study aims to analyze the mudharabah profit-sharing ratio by examining the Cost of Funds (COF), Cost of Loanable Funds (COLF), and Overhead Costs (OHC). Research Methods: This study uses secondary data from published financial reports, with 40 samples taken from annual reports for the 2020–2023 period. The data are analyzed using descriptive analysis, classical assumption tests, and multiple linear regression to measure the effect of each variable. Results: The results show that COF has a significant negative effect on mudharabah profit sharing, COLF has no significant effect, while OHC has a significant positive effect. Conclusion: Efficient management of funding and overhead costs is essential to enhance the profitability of mudharabah-based Islamic banks. Meanwhile, the cost of loanable funds has no significant role in determining the profit-sharing ratio.
Customer Engagement in Enhancing Customer Loyalty: Empirical Evidence Non-Muslim Customers of Bank Syariah Indonesia (BSI) KCP Tomoni Yusuf, Hardianti; Ginanjar, Muh.; Arlinda, Mutiara
Etihad: Journal of Islamic Banking and Finance Vol. 5 No. 1 (2025)
Publisher : UIN Kiai Ageng Muhammad Besari Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/etihad.v5i1.10427

Abstract

Introduction: One of the strategies implemented to engage customers is the application of the customer engagement concept. The purpose of this research is to analyze the customer engagement strategy's impact on the loyalty of non-Muslim customers at Bank Syariah Indonesia (BSI) KCP Tomoni. Research Methods: The research method employed in this study is qualitative research from a phenomenological perspective. The findings derived from in-depth interviews will then be analyzed using the Interpretative Phenomenological Analysis (IPA) method.  Results: The implementation of customer engagement with the indicators of cognitive attachment, attitudinal attachment, and behavioral attachment can foster a sense of loyalty among non-Muslim customers towards BSI KCP Tomoni. Conclusion: The customer engagement strategy at BSI KCP Tomoni effectively enhances non-Muslim customer loyalty through cognitive, attitudinal, and behavioral dimensions. This study underscores the importance of inclusive and customer-centered approaches in Islamic banking to sustain loyalty across diverse segments.
Bridging Financial Knowledge and Investment Decisions: Evidence from Students of the Faculty of Islamic Economics and Business, IAIN Ponorogo Rahmawati, Yunaita; Ahmad, Raisha Salisa
Etihad: Journal of Islamic Banking and Finance Vol. 5 No. 1 (2025)
Publisher : UIN Kiai Ageng Muhammad Besari Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/etihad.v5i1.10532

Abstract

Introduction: Although awareness of financial literacy is increasing, participation in Indonesia’s capital market remains low, with only about 0.4% of the population actively investing. Therefore, this study aims to examine the factors influencing investment interest among students of the Faculty of Islamic Economics and Business (FEBI) at IAIN Ponorogo. Research Methods: A quantitative method was employed using questionnaires distributed to 212 fifth-semester students during the 2018/2019 academic year. Multiple linear regression was applied to examine the effects of investment knowledge and minimum investment policies on investment interest. Results: The findings reveal that investment knowledge has a positive and significant effect on students’ investment interest, while minimum investment policies show no significant effect. However, both variables jointly have a significant influence. Conclusion: The results highlight the need for capital market authorities and educational institutions to enhance financial literacy and encourage active student participation in investment activities.
The Nicher Market Strategy of BPRS Mitra Mentari in Increasing Financing for MSME Entrepreneurs Masykuroh, Ely; Anhar, Fibrianis Puspita; Haris, Berlianto
Etihad: Journal of Islamic Banking and Finance Vol. 5 No. 1 (2025)
Publisher : UIN Kiai Ageng Muhammad Besari Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/etihad.v5i1.10721

Abstract

Introduction: Profit-sharing financing is a key feature of Islamic banks and should be maintained. One example is the Micro Express product, designed for MSMEs, especially small traders. However, BPRS faces strong competition from both conventional banks and informal lenders known as Plecit Banks. This study aims to examine the market share and competitors of the Micro Express at BPRS Mitra Mentari and to develop effective strategies to boost its financing. Research Methods: This research is field research using a qualitative approach with descriptive analysis. Results: As a market follower, BPRS can apply an imitator and adopter strategy by adopting competitor tactics—such as the pick-up service commonly used by Plecit Banks—and enhancing them through culturally unique approaches rooted in local wisdom, offering a distinct value proposition. Conclusion: Maintaining compliance with sharia principles remains essential—not only as a core identity of Islamic banks but also as a sustainable competitive advantage in the face of intense competition.
Advancing Sukuk Markets: Legal Frameworks, Regulatory Developments, and Default Challenges in Malaysia and the United Arab Emirates Abdullah, Ziarmal; Humaidi, Muchtim
Etihad: Journal of Islamic Banking and Finance Vol. 5 No. 1 (2025)
Publisher : UIN Kiai Ageng Muhammad Besari Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/etihad.v5i1.10913

Abstract

Introduction: This study examines recent developments and key challenges in the sukuk markets of Malaysia and the United Arab Emirates (UAE), with a focus on legal, regulatory, and post-default frameworks. It analyzes the institutional structures that shape sukuk issuance in both countries.  Research Methods: Using a qualitative approach, the research draws on academic literature, official reports, news articles, and other relevant sources. It also outlines fundamental sukuk theories, instruments, and global market issues.  Results: The findings indicate that both countries have made notable progress in advancing socially responsible sukuk and regulatory initiatives. However, the UAE faces challenges such as the absence of standardized legal frameworks and independent rating agencies. Malaysia, while leading globally in sukuk issuance, continues to encounter difficulties aligning its regulations with international standards. Conclusion: The study recommends greater standardization, increased sukuk issuance, and more transparent post-default mechanisms to support the long-term development of sukuk markets.
Risk Management Framework in Zakat-Based Islamic Microfinance Mahadi, Nur Farhah; Hasan, Aznan; Noor, Azman Mohd; Zakariyah, Habeebullah
Etihad: Journal of Islamic Banking and Finance Vol. 5 No. 1 (2025)
Publisher : UIN Kiai Ageng Muhammad Besari Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.21154/etihad.v5i1.12120

Abstract

Introduction: This study explores the potential of utilizing zakat funds or their proceeds for microfinance initiatives by developing a robust risk management framework. The framework aims to ensure prudential use of zakat resources and align with Islamic ethical and operational principles to enhance the effectiveness of zakat-based microfinance in promoting socioeconomic empowerment. Research Methods: A qualitative approach is employed to analyze the use of Islamic financial contracts such as qarḍ ḥasan, muḍarabah, musharakah, salam, and ijarah in managing portfolio risks within zakat-based microfinance institutions. Results: The findings indicate that a structured risk management framework improves the financial stability and accountability of zakat-based microfinance institutions. It provides clear parameters for prudential management and helps safeguard zakat funds against potential losses. Conclusion: This study proposes a practical framework that helps zakat institutions balance financial sustainability with their mission of socioeconomic empowerment, enhancing transparency and resilience in zakat-based microfinance.

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