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Luqmanul Hakiem Ajuna
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Department of Sharia Financial Management 2nd Floor Faculty of Islamic Economic and Business IAIN Sultan Amai Gorontalo. Campus 2, Jl. Sultan Amai, No. 1, Ds. Pone, Kec. Limboto Barat, Kab. Gorontalo, Prov. Gorontalo, Indonesia 96215.
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INDONESIA
Talaa : Journal of Islamic Finance
Published by Institut Agama Islam Negeri Sultan Amai Gorontalo
ISSN : 28073312     EISSN : 28073002     DOI : https://doi.org/10.54045/talaa
Core Subject : Economy,
Economics, Econometrics & Finance
Talaa : Journal of Islamic Finance is presented as an effort to globalization of Islamic finance. The goal is to become a reputable and internationally recognized scientific journal. Talaa journal focuses on Islamic Finance studies and present developments through the publication of articles. Specifically, the journal will deal with topics, Islamic Financial Management, Islamic Financial Technology, Zakah and Waqf, Islamic Philanthropy, Poverty Alleviation, Islamic Public Finance, Monetary Economics, Institutional Finances, Behavioural Economics and Finance, Financial Engineering, Securitization and Sukuk, Islamic Capital Markets. The journal is intended to communicate original research and current issues on the subject. This journal warmly welcomes contributions from scholars of related disciplines.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Keuangan
Articles 50 Documents
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Islamic Partnership-Based Financing and Financial Sustainability for Micro Enterprises in Mogadishu, Somalia Ali, Sharmarke Mohamed; Adam, Ayub Mukhtar; Farah, Hodan Abdullahi
Talaa : Journal of Islamic Finance Vol. 5 No. 1: June 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i1.770

Abstract

It is specifically focused on examining; (i) the relationship between Mudarabah financing and micro enterprise finance sustainability (ii) the relationship between Musharakah financing and micro enterprise finance sustainability and (iii) the relationship between Musharakah Mutanaqisah financing and micro enterprise finance sustainability in Mogadishu, Somalia. A correlational research design was used in the investigation. There were 248 respondents selected using a random sampling technique directly from a population of 701 micro-enterprises in Mogadishu. Statistics were collected using self-administered surveys and analyzed by the SPSS program after Pearson's correlation analysis. It reveals that; (i) there was a statistically significant positive relationship between Mudarabah financing and the financial sustainability of micro enterprises, (ii) there was a statistically significant positive relationship between Musharakah financing and the financial sustainability of micro enterprises and (iii) there was a statistically substantial optimistic relationship between Musharakah Mutanaqisah financing and the financial sustainability of micro Therefore, the study concludes that the provision of Islamic partnership-based financing involving Mudarabah, Musharakah and Musyarakah Mutanaqisah financing can increase the financial sustainability of micro-enterprises in Mogadishu, Somalia
Value-Based Intermediation in the International Expansion Strategy of Halal Food Companies Post-Trade Liberalization Syaichoni, Ahmad; Hidayati, Amalia Nuril; Sampurno, Rama Wahyu; Anggraini, Sisilia
Talaa : Journal of Islamic Finance Vol. 5 No. 1: June 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i1.777

Abstract

Trade liberalization has reshaped the competitive landscape of Indonesia’s processed food industry, including halal food companies that must navigate market expansion while maintaining Shariah compliance. This study analyzes how halal food firms integrate the Value-Based Intermediation (VBI) framework into their international expansion strategies following tariff reductions and the removal of non-tariff barriers. Utilizing a mixed-method approach—combining quantitative analysis of trade and investment data (BPS and UN Comtrade) with qualitative case studies of Indofood and Mayora—the research reveals that firms are not solely pursuing economic efficiency, but also embedding Islamic ethical values such as social sustainability, local farmer empowerment, and halal assurance into their strategies. Key initiatives include the establishment of halal compliance units, alignment with Shariah-compliant financing, and the implementation of risk governance frameworks inspired by maqashid al-shariah. The findings confirm that VBI can serve as an effective strategic model to guide halal food companies in balancing global trade opportunities with their religious and ethical obligations, thereby enhancing both competitiveness and sustainability.
Influence Return on Asset and Return on Equity to Return Shares in Registered Companies From Indonesia Stock Exchange Setyagustina, Kurniasih; Putri, Dwi Cahyantari Sujono; Din, Zia Ud; Khotib, Wahyudil; Dhonal, Rama
Talaa : Journal of Islamic Finance Vol. 5 No. 2: December 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i2.779

Abstract

The aim of this research is to determine the influence between ROA and ROE on Return Shares in companies listed on Idx in 2021-2023, either partially or simultaneously. This research uses an associative quantitative approach because it connects two or more variables. Based on the t test results Return on Asset positive influence on Return Shares, this is seen from the Sig value. for the influence of Return on Equity negative effect on Return Shares, this is seen from the Sig value. for the influence of Return on Asset And Return on Equity simultaneously influence Return Shares, this is seen from the Sig value. 0.008 ≤ 0.05, and calculated F value 5.238 ≥ F table 3.16. So it can be concluded that H0 is rejected and H1 is accepted.
Integrating Waqf in Shariah-Compliant Asset and Wealth Management Triyatno, Ghazy; Putra, Yuniarti Hidayah Suyoso
Talaa : Journal of Islamic Finance Vol. 5 No. 1: June 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i1.781

Abstract

The research is motivated by the growing importance of Islamic wealth instruments, particularly waqf, in promoting inclusive and sustainable economic development. The central problem addressed is the underutilization of waqf assets, which is attributed to limited public awareness, fragmented regulations, and a lack of integration with modern financial systems. Therefore, the study aims to investigate the models, instruments, regulatory frameworks, and technological innovations that facilitate the effective integration of waqf into Islamic financial planning. Employing a Systematic Literature Review (SLR) approach, the study identifies 70 relevant articles published between 2015 and 2025 using Scopus and snowball sampling techniques. The analysis involves bibliometric tools (VOSviewer and Publish or Perish) and thematic content analysis to map trends, collaboration networks, and knowledge gaps. The findings reveal four dominant themes: (1) direct and indirect waqf integration models, (2) innovations in waqf-based financial instruments (e.g., CWLS, unit trust waqf, waqf-based insurance), (3) the importance of national and global regulatory alignment, and (4) the transformative role of technology, such as e-waqf and blockchain. These insights affirm that waqf has evolved into a key pillar of Islamic wealth management, offering strategic solutions for economic empowerment and social justice.
The Effect of Capital Structure, Firm Size, and Corporate Governance on Firm Value with Profitability Ratio as a Moderating Variable in Islamic Banks in Indonesia and Malaysia Adammakna, Sulthan Ghazwah; Ariyani, Diyah
Talaa : Journal of Islamic Finance Vol. 5 No. 1: June 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i1.784

Abstract

Indonesia and Malaysia are two countries with relatively strong Islamic banking systems. In both countries, the capital market has experienced considerable fluctuations, particularly in the Islamic banking sector. The purpose of this study is to analyze the factors that affect firm value in the Islamic banking industry in Indonesia and Malaysia. The data used in this research are secondary data gained from the quarterly reports of each Islamic bank in Indonesia and Malaysia. The data analysis techniques employed descriptive data analysis, classical assumption testing, cluster robust standard error regression testing, and moderated regression analysis (MRA). The findings indicate that capital structure, firm size, good corporate governance and probability ratio has no significant effect on firm value. Furthermore, the profitability ratio is also able to moderate the relationship between capital structure, firm size, and good corporate governance on firm value.
Forex of India since 1991: A Study Based on Mann-Kendall Time Series Trends Vasagan, V. T.
Talaa : Journal of Islamic Finance Vol. 5 No. 2: December 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i2.788

Abstract

India's has become the fourth largest country in the foreign exchange reserves. The Foreign Exchange Reserves (FX Reserves) of India refer to the total foreign currency assets held by the Reserve Bank of India (RBI). It includes Special Drawing Rights (SDRs), Physical Gold and Foreign Currency Assets. Foreign Exchange Reserve stabilizes the Indian economy, particularly in terms of foreign trade and payment systems. This study delves a dataset of 31 years from 1991 to 2022. The objective of the investigation is to analyze the long-term trends to gain insight into the dynamics of the Indian economy and explore it association with GDP growth. The Mann-Kendall test is used to analyze trends in time series data and regression to analysis its impact on the growth of GDP of India. The study reveals the Mann-Kendall test that the computed p-value is lower than the significance level 0.05 at 95% of confident level, the null hypothesis is rejected. Hence, the foreign exchange reserve of India increases further and has positive trend. But in respect of GDP it has no impact on the growth of GDP of India since the p-value is greater than the significance level of 0.05 at 95% of confident level. Thus, Government of India has to take new initiatives, policies and strategies to strengthen its Forex reserves. This will enhance macroeconomic stability, and improve its resilience to external shocks in the global economy.
Sharia-Based Financial Inclusion Strategies for the Economic Empowerment of the Poor: A Systematic Literature Review Ekawaty, Marlina; Nugroho, Moh Agus
Talaa : Journal of Islamic Finance Vol. 5 No. 2: December 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i2.790

Abstract

This study employs a Systematic Literature Review (SLR) approach to examine the role of Sharia-based financial inclusion in empowering the poor and fostering economic justice in Indonesia. The review analyzes eleven peer-reviewed studies published between 2020 and 2024, focusing on the implementation of Islamic financial instruments such as Sharia microfinance, zakat, Islamic cooperatives, and digital Islamic financial technology (fintech). The findings reveal that Sharia-based financial inclusion significantly contributes to poverty alleviation by increasing access to capital, promoting entrepreneurship, and improving financial literacy among marginalized groups. However, its effectiveness is often constrained by governance challenges, regulatory fragmentation, and inadequate digital infrastructure. The results underscore the importance of institutional collaboration, innovation in financial products, and inclusive regulatory frameworks. Integrating Islamic economic principles with national development strategies, along with enhanced financial literacy programs, is vital for achieving sustainable socio-economic outcomes. This study contributes to the literature by synthesizing recent findings on the strategic role of Sharia-compliant finance in promoting inclusive development and offers actionable insights for policymakers, practitioners, and Islamic financial institutions in designing more effective and ethical financial inclusion strategies.
Integration of Islamic Economic Literacy and Hulondalo Local Values in Realizing the Financial Independence of Gorontalo’s Young Generation Sahabi, Ansar; Husain, Sri Apriyanti; Yusuf, Sri Dewi; Sekarrini, Laras Ayu
Talaa : Journal of Islamic Finance Vol. 5 No. 1: June 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i1.793

Abstract

his study aims to explore how the integration of Islamic economic literacy and Hulondalo local values shapes financial independence among youth in Gorontalo. Using a qualitative phenomenological approach, the study involved youth from diverse social and educational backgrounds as key informants. Data were collected through in-depth interviews, observations, and documentation, and were analyzed using data reduction, data display, and conclusion drawing techniques. The findings indicate that Islamic economic literacy has not been fully internalized among Gorontalo’s youth; however, Hulondalo values such as tuwoto (hard work), mo’opo (frugality), modutu (mutual cooperation), and tulodo (exemplary conduct) serve as strong foundations for positive financial behavior. The integration between Islamic financial principles and local cultural values strengthens responsibility, independence, and moral awareness in personal financial management. This study highlights that local wisdom can effectively reinforce Islamic economic literacy in promoting financial independence among Gorontalo youth.
The Analysis of Sharia Financial Literacy Levels Among Teachers in Islamic Boarding School in Bungo Regency Karimah, Lailatul Karimah; Zaki, Muhammad; Paradina, Novita Eka
Talaa : Journal of Islamic Finance Vol. 5 No. 2: December 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i2.794

Abstract

This study aims to describe the level and forms of Islamic financial literacy among teachers at Pondok Pesantren Al-Kautsar Babeko.  Islamic financial literacy is important in the Islamic boarding school environment because teachers play a role not only as educators but also as role models in applying economic principles of Islam in daily life.  This research used a qualitative approach with a case study method.  Data were obtained through in-depth interviews, observations, and documentation of several teachers who became research informants. Data analysis was carried out through stages of data reduction, data presentation, and conclusion drawing.  The findings showed that the teachers generally understand the basic concepts of finance, especially those based on Islamic principles, particularly in avoiding usury, gharar, and risky transactions.  However, some teachers still faced difficulties in managing finances in accordance with Islamic principles due to various obstacles.  Supporting factors for Islamic financial literacy included educational background in religion and teaching experience, while inhibiting factors include limited access to information and a lack of specific training in the field of Islamic finance.  These findings are expected to serve as input for Islamic boarding school managers and related stakeholders to improve the capacity of Islamic financial literacy among teachers.
Empirical Analysis of Islamic Financing: PLS and Non-PLS Impacts on Real Sector Botutihe, Rifki; Landali, Aldiwanto
Talaa : Journal of Islamic Finance Vol. 5 No. 2: December 2025
Publisher : Department of Sharia Financial Management, Institut Agama Islam Negeri Sultan Amai Gorontalo, Indonesia

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.54045/talaa.v5i2.798

Abstract

The main focus of this study is to understand why, despite PLS-based financing's advantages in terms of fair risk sharing and supporting long-term economic growth, its implementation is still limited compared to non-PLS schemes, which are considered simpler and less risky. Using an empirical approach based on data from Sharia financial institutions, this study assesses the relative contribution of the two financing models to real economic activity. The analysis was conducted through a comparison between PLS-based instruments, such as mudarabah and musharakah, with non-PLS instruments, such as murabahah, ijarah, and istishna. The result showed that PLS-based financing had a stronger positive influence on the real sector because it encouraged productive investment and fair risk sharing between funders and entrepreneurs. In contrast, non-PLS financing tended to be more dominant due to its lower risk and simpler operational mechanisms, but its link to real economic growth is relatively weaker. This study concludes that increasing the share of PLS-based financing can strengthen the sustainability and inclusiveness of the Islamic financial system. These findings offered important implications for policymakers, regulators, and practitioners in formulating strategies to strengthen the role of Islamic finance in sustainable real sector development.

Page 5 of 5 | Total Record : 50

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