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Nafiah
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INDONESIA
Indonesian Journal of Islamic Economics and Finance
Published by Institut Agama Islam Sunan Giri Ponorogo
ISSN : -     EISSN : 28081102     DOI : https://doi.org/10.37680/ijief
Core Subject : Economy, Social,
Economics, Econometrics & Finance Social Sciences
Indonesian Journal of Islamic Economics and Finance E-ISSN (28081102) is a journal wich is biannually issued and publishes new editions in June and December. The journal publisher is Institut Agama Islam Sunan Giri (INSURI) Ponorogo and managed by Departement of Islamic Economics INSURI. The publication of this journal is tightly-peer with a double bind reviewed process using Open Journal System (OJS) for the magazine. The journal can be accessed openly on the website.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 14 Documents
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Search results for , issue "Vol 4 No 2 (2024)" : 14 Documents clear
How Risk Perception aand Financial Literacy Effect Overconfidence Bias and Investment Decisions Relationship Mirfaqoh, Vella; Muktiyanto, Ali; Geraldina, Ira; Yusriani, Sri
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.6067

Abstract

This research aims to determine the influence of overconfidence bias on investment decisions, which is mediated by risk perception and moderated by financial literacy. This research is quantitative research using causality analysis. The research instrument is a questionnaire with a likert scale of one to five points. The research used a random sampling technique with 400 capital market investors in Indonesia. Data were analyzed by SmartPLS4 software using the SEM PLS method. The research results show that overconfidence bias and risk perception positively affect investment decisions. Risk perception can positively and significantly mediate the relationship between overconfidence bias and investment decisions. Other results prove that financial literacy cannot moderate the relationship between overconfidence bias and investment decisions. This research implies that investors are expected to make investment decisions rationally and avoid detrimental investments.
Exploring The Potential of Zakat: Yusuf Qardhawi’s Insights for Poverty Alleviation and Economic Growth in Indonesia Syamsuri, Syamsuri; Arief, Suyoto; Wibisono, Vina Fithriana; Fauziyah, Silva
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.6085

Abstract

This study aims to explore the potential of zakat, insights from Yusuf Qardhawi perspectives for poverty alleviation and economic growth in Indonesia. This study uses a library method and descriptive analysis approach. The result of this study indicated that the management of zakat its relevance in Indonesia insight from Yusuf Qardhawi are (1) expanding the provisions of the assets that are subject to zakat funds needs to be managed productively; (2) the management and distribution of zakat in order to function properly requires centralization of zakat management by the state (government). The role of the government in alleviating poverty and economic growth includes: optimizing the performance of zakat institutions in accordance with zakat regulations; increasing public literation of zakat, encouraging social innovations as a form of efficiency and transparency in the distribution and utilization of zakat; supervising zakat institutions on the impact on poverty alleviation and maximizing the potential of zakat in improving economic growth and the welfare of underprivileged people. This study provides insight for the management of zakat in Indonesia is optimized using Yusuf Qardhawi’s concept, its relevant to poverty issues and improvisation of economic growth.
Budgeting and Saving Effectiveness as the Main Pillar of Sustainable Personal Financial Management Prakoso, Teguh; Apriliani, Rina
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.6187

Abstract

Personal financial management is an important aspect of achieving financial stability and success. This research examines the importance of effective budgeting and saving practices as key components of personal financial management. The research shows that budgeting is important in personal financial management as it provides a clear framework for managing income and expenditure. By having a detailed budget, individuals can monitor their cash flow, ensure that they allocate funds to essential needs, and identify areas where spending can be reduced. Budgeting also helps set short-term and long-term goals, encouraging financial discipline and responsibility. Studies indicate that individuals who consistently follow a budget tend to have better financial health and are less trapped in debt. In addition to budgeting, effective saving practices are a key component of personal financial management. Saving is important to deal with financial emergencies and achieve future goals, such as home purchase, education, or retirement. Regularly setting aside a portion of income into savings can help individuals build financial reserves and reduce reliance on loans or credit. Studies have also found that saving regularly can increase financial well-being and reduce money-related stress. Therefore, effective budgeting and saving are two key pillars that complement each other in achieving sustainable personal financial stability.
Productive Zakat Law Implementation in Mentor Empowerment for Entrepreneurial Character Building and Mustahiq Empowerment Khatimah, Husnul; Nuradi, Nuradi; Mubarok, Jaih
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.6213

Abstract

This study examines the law of productive zakat and its implementation in the mentor empowerment program for the formation of entrepreneurial character and empowerment of mustahiq. This study uses a library method with a qualitative approach and descriptive analysis that examines various opinions and sources of law on productive zakat. The study's results indicate differences of opinion among scholars regarding the permissibility of productive zakat. One group argues it is forbidden based on the premise of direct distribution and ownership of zakat funds by mustahiq. Another group allows productive zakat because of its greater benefits and impacts. The third view, namely moderate, allows productive zakat after the urgent needs of mustahiq are met. This study is more inclined towards this third view because it is considered the most appropriate to the current era and needs. The implementation of productive zakat is analyzed through the instruments of mudharabah, murabahah, and qardhul hasan. Mentoring is considered beneficial for business growth and mustahiq welfare. This study provides insight for zakat institutions to improve empowerment strategies and strengthen productive zakat policies.
Analysis of the Influence of Funding Sources on Salt Production Efficiency in Madura Tunnabila, Sabna; Nugroho, Prasetyo; Purnomo, Arie Setyo Dwi
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.6355

Abstract

This research aims to analyze the influence of funding sources on the efficiency of salt production in Karanganyar Village and Pinggirpapas Village, Kalianget District, Sumenep Regency, known as the largest salt-producing area in Madura. The research population was salt business actors in Madura, totaling 880 people. The sample was determined using the Slovin formula and an error rate (standard error) of 10% (0.1), resulting in a sample of 89 respondents. Data was collected through questionnaires, interviews, and observations. Data analysis was carried out using SPSS software, and the statistical method used was a simple linear regression test. The research results show a significant positive relationship between funding sources and salt production efficiency. This can be seen from the regression coefficient of 0.101 with a p-value <0.05, which shows that the better the access to funding sources, the more efficient the salt production process will be. These findings emphasize the importance of the availability and accessibility of funding sources to increase production efficiency in the salt sector.
The Impact of Financial Inclusion and Technology Digitalization on The Development of The Creative Economy in Pamekasan Tahol, Triana Olivia; Susandini, Aprilina; Hadyarti, Vidi
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.6357

Abstract

This study aims to determine the impact of financial inclusion and technology digitalization on the development of the creative economy in Pamekasan, as measured by indicators of product innovation, marketing innovation, financial system innovation, and human resource management innovation. This study uses a quantitative approach involving 85 respondents as samples. Data was collected through field observations, structured interviews, and questionnaires compiled using a Likert scale. Data analysis was carried out using data instrument tests, classical assumption tests, and hypothesis tests with the help of SPSS 26 software to analyze the data obtained and test the established hypotheses. The results of this study indicate that financial inclusion and technology digitalization partially have a positive and significant effect on the development of the creative economy in Pamekasan. Simultaneously, financial inclusion and technology digitalization significantly affect the development of the creative economy in Pamekasan.
Evaluation of Financial Performance of PT Waskita Karya Tbk in the Infrastructure Sector: Financial Ratio Analysis 2021-2023 Pahrudin, Asep; Suciati, Ranila
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.6399

Abstract

This study aims to assess the financial performance of PT Waskita Karya Tbk, a prominent company in the infrastructure sector, over the 2021-2023 period. The evaluation employs a financial ratio approach, including Net Profit Margin (NPM), Return on Equity (ROE), Earnings Per Share (EPS), Price Earnings Ratio (PER), Price to Book Value (PBV), and Debt to Equity Ratio (DER). This approach seeks to provide a comprehensive overview of the company's profitability, market valuation, and solvency. The findings indicate a notable improvement in profitability indicators, particularly in 2023. Market value indicators, such as EPS, also recorded sharp growth, reflecting the company's operational efficiency; meanwhile, PER experienced a significant decline, indicating a rationalization of stock valuations in the market. On the other hand, solvency was reflected in an increase in PBV, although the DER ratio also increased, indicating a greater reliance on debt. Overall, this study concludes that PT Waskita Karya Tbk shows a significant improvement trend in financial performance, especially in profitability and market value. However, better debt management is needed to maintain financial stability.
Uncovering the Complexity of Customer Loyalty in Islamic Banks: The Relationship between Service Quality, Experience, and Brand Image through Customer Satisfaction Laili, Silvia Nur; Hasan, Irmayanti
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.6486

Abstract

The Islamic banking sector in Indonesia, especially after the merger of Bank Syariah Indonesia (BSI) in 2021, has shown tremendous growth. However, maintaining customer loyalty remains a significant challenge in this competitive landscape, with various factors potentially affecting customer retention in Islamic banking. This study investigates the relationship between service quality, customer experience, and brand image on customer loyalty at BSI KCP Mojokerto Gajah Mada, with customer satisfaction as a mediating variable. This study uses a quantitative approach using a structured questionnaire distributed to 110 customers selected through purposive sampling. Data analysis was conducted using Partial Least Square Structural Equation Modeling (PLS-SEM) to test the direct relationship and mediation effects. The study findings reveal that service quality and brand image directly affect customer loyalty, while customer experience requires the mediation of customer satisfaction to affect loyalty. In particular, service quality is negatively correlated with loyalty when mediated through satisfaction. Customer satisfaction effectively mediates the relationship between brand image and loyalty as well as between customer experience and loyalty. This study demonstrates the complex nature of customer loyalty formation in Islamic banking, suggesting that banks should focus on maintaining consistent service quality while building a strong brand image and positive customer experiences.
Analysis GISWAF on the Interest of Waqf Students: A Case Study on UNIDA Gontor Afif, Mufti; Muzaki, Rofi; Sa’id, Roudhoh Hannaaris; Maulana, Hartomi
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.5737

Abstract

The literacy of Indonesian society regarding waqf is still relatively low. People often confuse waqf with charity (sodaqoh) and voluntary contributions (infak). Similarly, the literacy among university students about waqf is also lacking. The GISWAF "Gerakan Indonesia sadar wakaf" movement has introduced a seminar activity called "Waqf Literacy Seminar" for students at Universitas Darussalam Gontor. This research employs a qualitative descriptive method, involving interviews with 14 Students considered sufficient to reach the data saturation point, as well as observation and documentation, to explore the understanding and awareness of waqf among students. This research is to gauge the interest of students in waqf by examining their understanding, awareness, and future intentions regarding waqf. The specific this research is to evaluate how effective GISWAF is in increasing UNIDA Gontor students' desire to give waqf. The findings from the study indicate interest, 5 students (36%) are interested in practicing waqf literacy to the community, 4 students (29%) are interested in studying more deeply about waqf, 4 students (29%) are interested in doing waqf, and 1 student (7%) is interested in still wanting to learn about waqf, and 0 students do not want to learn waqf (0%).
Analysis of 5C+1S Principles in Minimizing the Risk of Working Capital Murabahah Financing Hadratullah, Hadratullah; Sejati, Anang
Indonesian Journal of Islamic Economics and Finance Vol 4 No 2 (2024)
Publisher : Institut Agama Islam Sunan Giri Ponorogo

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.37680/ijief.v4i2.5792

Abstract

This study aims to analyze the application of the 5C+1S (Character, Capacity, Capital, Collateral, Condition, and Sharia) principles in minimizing the risk of Murabahah financing at Bank Syariah Indonesia KCP Pancor. The research uses a qualitative descriptive approach with primary data through employee and customer interviews and secondary data from bank documents. The results show that the 5C+1S principle helps assess customer eligibility despite obstacles such as limited human resources, lack of selectivity in customer selection, and the influence of economic conditions. To overcome these challenges, intensive training is recommended to improve the quality of human resources, periodic supervision of customers, risk analysis technology, diversification of financing portfolios, and improvement of customer financial literacy. Consistent and adaptive implementation of economic changes can help BSI KCP Pancor mitigate the risk of non-performing financing and maintain the sustainability of its operations.

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