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Research of Islamic Economics (RIE)
Published by Santoso Academy Network
ISSN : 30254418     EISSN : 29887739     DOI : https://doi.org/10.58777/rie
Core Subject : Economy,
Economics, Econometrics & Finance
he Research of Islamic Economics (RIE) journal publishes theoretical and empirical research articles, review papers, and case studies on all major Islamic Economics and business topics. The Journals mission is to offer a forum for the growing scholarly research on Islamic financial institutions and the Sharia money and capital markets in which they operate. The Journal emphasizes theoretical advancements and their application and empirical, practical, and policy-oriented research in other local and international Islamic banking, financial institutions, and markets. The RIE examines various decisions, processes, and activities within Islamic finance, banking, policy, philanthropy, and technology. The RIE is published for executives, researchers, and scholars alike, and the journal aids the application of empirical research to practical situations and theoretical findings to the reality of the real business world.The Journals goal is to promote communication and collaboration between and among academic and other research groups, as well as policymakers and operational decision-makers at private and public institutions, national and global, and their regulators.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekomomi dan Ekonometrika
Articles 26 Documents
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Formulation of Risk Management Strategy for Sharia Mortgage Products during the Covid-19 Pandemic Suherni, Siti; Isfandayani, Isfandayani; Putra, Purnama
Research of Islamic Economics Vol. 2 No. 1 (2024): JULY 2024
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i1.178

Abstract

The COVID-19 pandemic has had a significant impact on the development of the world economy, including the banking and financial services industry. One of the financing products at Bank BTN Syariah is the Home Ownership Financing-Mortgage (Sharia KPR), where the more financing funds are channeled, of course, the greater the potential for risk. The purpose of this study was to formulate a risk management strategy for Sharia KPR products that Bank BTN Syariah KC Bekasi can use during the Covid-19 pandemic. To analyze and develop the bank strategy, we use the Grand Strategy Matrix method by blending internal and external factors, where the analysis and strategy selection process is divided into three stages: Input stage, matching stage, and Decision stage. The results of the study showed that several internal and external factors occur in Bank BTN Sharia KC Bekasi that affect the development of Sharia KPR products; Bank BTN applies risk management based on the 5C principle to minimize the occurrence of risks that may occur. Managerial implications of this research are credit risk management, management, increased risk monitoring, effective communication, product innovation, conducting education and training, and Sharia compliance.
Enhancing Muslim Consumer Purchasing Decisions: The Impact of Product Quality, Price, Service Excellence, and Halal Certification Amanda, Dinda Ardelia; Santosa, Perdana Wahyu
Research of Islamic Economics Vol. 2 No. 1 (2024): JULY 2024
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i1.248

Abstract

This research aims to determine the influence of Product Quality, Price, Service Quality, and Halal Certification on Muslim Consumer Purchasing Decisions at "Holland Bakery" in DKI Jakarta. The sample consists of 112 respondents who have purchased "Holland Bakery" products, selected through purposive sampling. Findings indicate that product quality and price positively and significantly affect purchasing decisions. However, service quality and Halal certification do not significantly impact purchasing decisions. From a managerial perspective, this research provides key insights for targeting the Muslim consumer market. It emphasizes that while product quality and competitive pricing are crucial, the presence of halal certification and superior service quality may not significantly sway purchasing decisions. Managers should focus on maintaining high product quality and competitive prices to meet the expectations of Muslim consumers, who prioritize these factors when making purchasing decisions.
Unlocking Consumer Choices: The Impact of Halal Labels, Brand Image, Quality, and Price on Buying Decisions Rahmania, Dea; Fadhlillah, Penny Rahmah
Research of Islamic Economics Vol. 2 No. 1 (2024): JULY 2024
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i1.250

Abstract

This research aims to determine whether there is an influence of the Halal Label, Brand Image, Product Quality and Price Perception on Purchase Decisions for Cempaka Putih Mixue Ice Cream and reviews in Islam. The population of this study were consumers who had purchased Mixue Ice Cream at the Cempaka Putih branch at least once, with a total of 100 respondents. The sampling technique uses a non-probability method, with a purposive sampling technique through distributing questionnaires. The research results show that the halal label has no influence on purchasing decisions, brand image influences purchasing decisions, product quality influences purchasing decisions, price perception influences purchasing decisions. Managerial Implications The findings of this research indicate that factors such as halal labels, brand image, product quality, and price perceptions play an important role in influencing consumer purchasing decisions. For company managers, especially those operating in markets where most consumers are Muslim, this emphasizes the importance of ensuring products have clear and reliable halal certification, because this can increase customer trust and loyalty. This paper contributes to understanding the dynamics of food product purchasing decisions in Muslim markets and provides practical insights for companies to increase their competitiveness.
Impact of Intellectual Capital and Islamic Corporate Governance on Financial Performance of Indonesian Islamic Commercial Banks Dahlifah; Putri, Dina Anavia; Mustika, Maya; Tarsono, Ono
Research of Islamic Economics Vol. 2 No. 1 (2024): JULY 2024
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i1.265

Abstract

The aim this study is to investigate the relationship between intellectual capital, Islamic commercial banks' financial performance, and Islamic corporate governance in Indonesia from 2017 to 2019. The methodology used in the study is quantitative. The people are all Muslims. Commercial banks that have Financial Services Authority registrations (OJK) over the three-year period (2017-2019). The sample is determined using a saturated sampling technique, resulting in 14 Islamic Commercial Banks and forty-two observations in total. The analytical approach is panel data regression analysis and data processing with Eviews 9. The study's findings demonstrate that intellectual capital has a significant impact on return on assets. In contrast, the Sharia Supervisory Board has little effect on Return on Assets. However, the Commissioners' Board and the Directors Board both significantly influence Return on Assets.
Impact of Sharia Stock Prices: A Study on Inflation, Exchange Rate, BI Rate, and Money Supply Subagio, Sidiq; Rahayu, Sovi Ismawati
Research of Islamic Economics Vol. 2 No. 1 (2024): JULY 2024
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i1.274

Abstract

This study aims to examine the effect of inflation, exchange rate, BI Rate, and the amount of money in circulation on Islamic stocks in companies listed on the Jakarta Islamic Index (JII). This study uses a sample of changes in the inflation rate, changes in the exchange rate, changes in the BI rate, changes in the money supply, and Islamic stock prices. This study uses secondary data, namely reports of changes in index obtained from the official website of the Indonesian Stock Exchange and the website of the Central Statistics Agency. With the results obtained in this study, inflation has a significant negative effect on Sharia Stock Prices, Exchange Rates have a significant negative effect on Sharia Stock Prices, amount of money in circulation has a significant positive effect on the price of Sharia shares. Inflation, Exchange Rate, BI Rate, and Money Supply have a simultaneous effect on Sharia Stock Prices in Companies Listed in the Jakarta Islamic Index. Managerial implications, especially for investment managers and fund managers in the Islamic capital market. Knowing the influence of inflation, exchange rates, BI interest rates, and money supply on Islamic stock prices allows managers to make better and more strategic investment decisions.
Unlocking Loyalty: The Power of Halal Labels on Customer Satisfaction and Purchasing Decisions Lestari, Putri; Budiman, Andika Nuraga
Research of Islamic Economics Vol. 2 No. 2 (2025): JANUARY 2025
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i2.247

Abstract

This research was conducted with the aim of testing the effect of the halal label on customer loyalty through purchasing decisions and customer satisfaction as mediating factors. This research was designed as explanatory research. The sampling technique used was non-probability sampling. Data collection was carried out using a questionnaire survey instrument method via the Google Form page. The researfactor: lts show that the halal label has a positive and significant effect on customer loyalty; customer satisfaction has no effect on customer loyalty; the influence of the halal label on customer loyalty is not mediated through customer satisfaction as a mediating factor; Purchasing decisions can partially mediate the relationship between halal labels and customer loyalty. Managerial Implications This research shows that the halal label has a significant impact on customer loyalty and purchasing decisions, with customer satisfaction acting as an important intervening variable. The role of intervening variables in this research plays a key role in explaining how the relationship between independent variables and dependent variables can occur indirectly through these variables. In the context of this research, the independent variable is the halal label, while the dependent variable is customer loyalty.
The Role of Work Discipline, Islamic Work Ethics, Compensation in Shaping Job Satisfaction Among Muslim Employees Hilman, Muhammad Ferizqo; Sekarsari, Meidiati
Research of Islamic Economics Vol. 2 No. 2 (2025): JANUARY 2025
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i2.378

Abstract

This study examines the impact of work discipline, Islamic work ethics, and compensation on the job satisfaction of Muslim employees in Tangerang City. Using a Saturated Sampling method, data were collected via a questionnaire and analyzed using the Partial Least Square Structural Equation Modeling (PLS-SEM) method. The findings reveal that work discipline, Islamic work ethics, and compensation each have a positive and significant effect on job satisfaction. These factors are shown to be highly effective in enhancing job satisfaction among employees. The managerial implications suggest that improving work discipline, fostering Islamic work ethics, and offering fair and competitive compensation can significantly boost job satisfaction. This study contributes by highlighting the importance of these variables in shaping employee satisfaction, specifically within the context of Islamic values. Moreover, the predictive model developed through PLS-SEM offers organizations practical insights into creating fair, consistent policies that align with Islamic principles to enhance workplace satisfaction. These findings underscore the value of integrating ethical and equitable practices to improve the job satisfaction of Muslim employees in Tangerang City.
The Impact of Islamicity Performance Index on the Profitability of Sharia Banks in Indonesia Fawwa Alamah, Atikah; Nadhirah, Yuha; Putra, Purnama
Research of Islamic Economics Vol. 2 No. 2 (2025): JANUARY 2025
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i2.381

Abstract

This study evaluates the business and social performance of Indonesian Islamic Banking using the Islamicity Performance Index from 2020 to 2022. Business performance is measured through the Profit Sharing Ratio (PSR) and Islamic Income vs. Non-Islamic Income Ratio (IIR), while social performance is assessed using the Zakat Performance Ratio (ZPR) and Equitable Distribution Ratio (EDR). A purposive sampling method was employed, selecting 12 Indonesian Islamic banks, with data sourced from their Annual Reports. The research applies a quantitative methodology, analyzing data through multiple linear regression using SPSS 22. The study identifies Zakat Performance Ratio (ZPR) as the sole variable positively affecting profitability (ROA), while PSR, IIR, and EDR have no significant impact. The findings underscore the importance of integrating Sharia principles into operational practices. The managerial implications suggest that Sharia bank management should focus on improving ZPR by emphasizing equitable wealth distribution and adherence to Islamic values to enhance profitability. This study provides valuable insights for the Islamic banking sector, emphasizing the need for a holistic approach that aligns with the Islamicity Performance Index to achieve both financial and social objectives.
Strengthening MSME Performance: The Role of Entrepreneurial Orientation and Business Models in Micro Wakaf Bank PKP Nurinda, Shaqyna Ratu; Effendi , Syahrul; Ardheta, Preztika Ayu
Research of Islamic Economics Vol. 2 No. 2 (2025): JANUARY 2025
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i2.383

Abstract

This research aims to determine to analyze the effect of entrepreneurial orientation on the performance of MSMEs on customers of the Pondok Karya Pembangunan Micro Waqf Bank (PKP) and to analyze the effect of the Business Model on the performance of MSMEs on customers of the Micro Waqaf Bank Pondok Karya Pembangunan (PKP) Development Work. The population of this study was 100 customers of the PKP Micro Waqf Bank. Sample selection through non-probability sampling method with purposive sampling technique. The results of this study indicate that Entrepreneurial Orientation and Business Model have a positive and significant influence on MSME Performance on customers of the Pondok Karya Pembangunan Micro Waqf Bank (PKP). The managerial implications of this study emphasize the need for Micro Wakaf Bank Pondok Karya Pembangunan (PKP) to enhance entrepreneurial orientation and optimize business models among its UMKM customers. By fostering innovation, proactive risk-taking, and competitive aggressiveness, the bank can empower UMKM to adapt to market dynamics effectively. Simultaneously, developing flexible and customer-centric business models can improve operational efficiency and market responsiveness. These strategies not only drive better performance outcomes for UMKM but also strengthen the bank's role as a facilitator of sustainable economic growth in the community.
The Ethical Deviations of AI in Marketing Practices: A Critical Review from Halal Perspectives Koswara, Asep; Herlina, Lina
Research of Islamic Economics Vol. 2 No. 2 (2025): JANUARY 2025
Publisher : SAN Scientific

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.58777/rie.v2i2.393

Abstract

This paper critically examines the ethical deviations in Artificial Intelligence (AI) tools used for marketing practices from a halal perspective, focusing on Islamic ethical principles. The research highlights risks associated with AI technologies like generative AI (e.g., ChatGPT), image generators, face-swapping tools, and voice cloning, which can lead to misinformation, manipulation, and exploitation. These issues contradict Islamic values of justice (‘adl), integrity (amanah), and harm avoidance (mafsadah). Using a qualitative, exploratory approach, this study identifies key ethical violations while introducing the novel concept of integrating halal principles into AI governance frameworks for marketing. The managerial implications of this research include the necessity for businesses to adopt ethical guidelines, conduct regular AI audits, and prioritize consumer trust through transparent and accountable practices. Companies can enhance competitive advantage by aligning their AI-driven marketing strategies with halal standards, fostering trust among diverse consumer bases. This study not only addresses immediate ethical concerns but also lays the foundation for developing AI tools aligned with Islamic values, contributing to responsible innovation and long-term societal impact.

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