cover
Contact Name
Priyonggo Suseno
Contact Email
061002218@uii.ac.id
Phone
-
Journal Mail Official
editor.risfe@uii.ac.id
Editorial Address
Center for Islamic Economics and Development Studies (CIEDS) Faculty of Business and Economics, Universitas Islam Indonesia Jl. Prawiro Kuat, Ngringin, Condongcatur, Depok, Sleman Daerah Istimewa Yogyakarta, Indonesia, 55283
Location
Kab. sleman,
Daerah istimewa yogyakarta
INDONESIA
Review of Islamic Social Finance and Entrepreneurship
ISSN : -     EISSN : 2963847X     DOI : https://doi.org/10.20885/RISFE
AIMS AND SCOPE Aims Review of Islamic Social Finance and Entrepreneurship covers in detail a large number of topics related to Islamic Social Finance, comprising the latest empirical studies, country-specific studies, policy evaluations on Islamic sosial finance and entrepreneurship. This journal provides a forum for scientific exchange for academicians, practitioners, keen observers, and independent researchers, by publishing high-quality theoretical, empirical, and policy contributions. Scope: Islamic social finance: - Zakat Management - Zakat Collection - Zakat Distribution - Development of zakat Institution - Global zakat system and sustainable zakat accounting - Islamic social finance in post-pandemic period - Building sustainable Islamic social finance ecosystem - The role of Fintech in optimizing the social function of Islamic finance - Sustainable development goals and Islamic finance - Cash waqf endowment for Sustainable development - Implication of Islamic accountability for waqf - Islamic social finance through waqf - Good government for Islamic endowment - Takaful overview, growth and models - Governance mechanism of takaful market - Takaful product, service and customer perception - Islamic microfinance, principles of performance and problems - Islamic microfinance for sustainable development - Islamic microfinance for female empowerment - The role of the banking sector in operationalizing - Islamic social finance in post-pandemic period - Building sustainable Islamic social finance ecosystem - The role of Fintech in optimizing the social function of Islamic finance - Sustainable development goals and Islamic finance Islamic entrepreneurship: - Innovativeness and risk-taking - Ethics and social responsibility - The Muslim entrepreneurs among micro/small entreprises - Women Entrepreneurship Development - Islamic entrepreneurship mind programming on entrepreneurial performance - Technological innovation and entrepreneurship - Social welfare services in the social entrepreneurship context - Human resource in the Islamic sector and academic entrepreneurship - The role of enterprise architecture in enterprise integration - Model of strengthening the entrepreneurship character - Islamic venture capital as financing alternative of Muslim entrepreneurs - Islamic entrepreneurship education model for higher education institution
Articles 46 Documents
Optimization of Cash Waqf Linked Sukuk (CWLS) for supporting Indonesia’s economic recovery post-Covid-19 era Sulaeman Sulaeman; Siti Zubaidah; Tika Nur’atikah
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 2, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss2.art4

Abstract

Purpose – The purpose of this study is to analyze the optimization of the Cash Waqf Linked Sukuk (CWLS) issuance mechanism and its potential to support Indonesia's economic recovery after the Covid-19 pandemic.Methodology – This study uses a qualitative descriptive analysis approach by exploring the relevant literature. This study also uses the SWOT (Strength, Weakness, Opportunity, and Threat) to obtain information on internal and external factors that can support and inhibit the planned issuance of CWLS.Findings – This study found that the investment returns from cash waqf funds in the CWLS model can be utilized for social and economic development in Indonesia. In line with the objectives of Indonesia's economic recovery program, namely: aiming to protect, maintain, and improve the economic capacity of business actors, especially MSMEs, in running their business during and after the Covid-19 pandemic in Indonesia.Implications – The CWLS model is expected to make a positive contribution to the Indonesian government and policymakers as material for further study of Islamic financing instruments, which can optimize their role in supporting the financing of Indonesia's economic recovery programs during and after the Covid-19 pandemic.Originality – The novelty of this research is proposing an alternative source of financing for the government in supporting Indonesia’s economic recovery. Further, this research contributes to the existing literature on Islamic social finance, especially for waqf studies.
Women’s role in family economic resilience in the time of the Covid-19 pandemic according to Islamic perspective Rizky Andrean; Hendri Hermawan Adinugraha; Achmad Tubagus Surur
Review of Islamic Social Finance and Entrepreneurship Volume 1 Issue 2, 2022
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol1.iss2.art6

Abstract

Purpose – This paper tries to examine and explain how the role of women in the economic resilience of the family during the Covid-19 pandemic from an Islamic perspective. Methodology – The method in this research is a phenomenological study and also a descriptive analysis. This research is a literature study or library research using a qualitative research approach. This study uses secondary data originating from the publication of scientific journal articles, the results of previous studies, and other reference sources that are relevant to the thing being studied. Findings – The results of the study show that working women play a very important role in maintaining the economic resilience of the family, especially during the pandemic. However, on the other hand, women who help make a living also have their challenges, namely how they can divide their time between working to earn a living and also taking care of the household. Implications – Working women must be able to balance the roles they have. Islam allows women who work to help earn a living with the record that it is with the permission of her husband, to avoid things that are contrary to the Shari’a, and also stay away from work that is contrary to her feminine nature.Originality – Religious teachings that serve as guidelines in life will also be a separate perspective that will enrich views on how women work.
Islamic economics, banking, and finance literature bibliometrics approach: Guideline for journal databases Indri Supriani; Ujang Syahrul Mubarrok
Review of Islamic Social Finance and Entrepreneurship Volume 2 Issue 1, 2023
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol2.iss1.art3

Abstract

Purpose – This paper aims to present a comprehensive understanding of performing a bibliometric study that uses a journal as the research data. Moreover, this study also aims to offer guidelines for conducting bibliometric analysis that provides a meaningful discussion about the journal's performance, particularly in Islamic Economics, Banking, and Finance (IEBF) field.Methodology – This study discussed bibliometric as a methodology by adopting a literature review approach on four selected bibliometric articles in the IEBF field that use a journal as their research data. Previous bibliometric studies on IEBF that utilize journals as their research data have a commonality in selecting the journal based on the adequacy and availability of data and the journal's position and impact.Findings – This study highlighted the most used metrics and techniques to present the journal's performance. Importantly, this study suggested that future research must elaborate their findings with the current facts and academic reasons to enrich the discussion.Implications – This study will be benefited the journal editors and scholars in adopting appropriate bibliometric analysis that uses a particular journal as the research data. Consequently, this study will contribute to enhancing the research quality of IEBF.Originality – This study is a pioneer attempt to propose a bibliometric research guideline that utilizes specific journals as the research data.
Islamic social finance in Indonesia: Opportunities, challenges, and its role in empowering society Hendri Hermawan Adinugraha; Muhammad Shulhoni; Dliya’udin Achmad
Review of Islamic Social Finance and Entrepreneurship Volume 2 Issue 1, 2023
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol2.iss1.art4

Abstract

Purpose – This study identifies and analyzes Islamic social finance's potential, opportunities, challenges, roles, and impacts in empowering people in Indonesia.Methodology – This research used descriptive and explorative qualitative methods with a systematic literature review. This study used data analysis techniques and content analysis. Findings – This research shows enormous potential for Islamic social finance in Indonesia. Indonesia’s opportunity as a country that has the largest Muslim population in the world and has a large market potential for Islamic social finance. Challenges in developing Islamic social finance, namely the low support for Islamic social finance, the absence of Islamic banks that have maximum assets, the lack of qualified Islamic economic, human resources in the field of Islamic social finance, and the low capacity of research and development of Islamic social finance. Islamic social finance is oriented toward social welfare. This is concrete evidence of its strategic role in community empowerment and poverty alleviation in Indonesia. Islamic social finance is proven to be the main instrument that has a central role in sustainable poverty alleviation that impacts the benefit of all society. Implications – Islamic social finance should integrate with other Islamic philanthropic institutions domestically and globally to expand its impact in empowering people in Indonesia.Originality – This highly structured and in-depth literature review examines and describes the potential, opportunities, challenges, roles, and impacts of Islamic social finance.
Sharia e-commerce in Indonesia: Sharia peer to peer lending Yunika Sari
Review of Islamic Social Finance and Entrepreneurship Volume 2 Issue 1, 2023
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol2.iss1.art7

Abstract

Purpose – This article discusses the increasingly rapid development of the sharia e-commerce in Indonesia, focusing on FinTech peer to peer lending sharia.Methodology – This article uses qualitative methods and literature research (library research), with descriptive analysis techniques related to sharia FinTech lending in Indonesia, as well as a statutory approach, which is classified based on hierarchy and sources of law by comprehensive review.Findings – The theme of this article is that Islamic FinTech lending seeks to understand better how vital economic innovation is needed by society because FinTech lending is a new platform for fast and practical financial transaction services. However, although the Financial Services Authority (Otoritas Jasa Keuangan, OJK) has made FinTech lending regulations, no specific rules explicitly mention sharia FinTech lending. So there is still a possibility that some elements are different from Islamic sharia. So, of course, special regulations regarding sharia FinTech lending are urgently needed so that they follow Islamic laws. Implications – This article is useful, apart from adding to the repertoire, it can also be a means for studying financial service platforms in Indonesian society and can be used as reference material for further research in the same field.Originality – This article contributes to various financial service platforms to continue to improve and innovate in sharia-based financial activities, as well as provide an understanding to the wider community regarding the ease of accessing these sharia financial services
Women as economic actors in the family: The importance of religion and community in Payungi’s women empowerment Dwi Nugroho; Dharma Setyawan; Dewi Sri Yunita
Review of Islamic Social Finance and Entrepreneurship Volume 2 Issue 1, 2023
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol2.iss1.art5

Abstract

Purpose – This study aims to examine the important role of religion and the contribution of the community to empower women in building women's capabilities as actors in the family economy.Methodology – This study uses a qualitative method with an ethnographic approach and collects data using observation, interviews, and documentation studies.Findings – This study shows that the contextualization of religious teachings, which are widely discussed in religious forums (Payungi Entrepreneurial Pesantren), and the contribution of the community in the actualization of ideas in women's empowerment can change the negative stigma of women and encourage women to become economic actors in the family through women's entrepreneurial activities.Implications – Religion and community can be optimized to encourage women to build capabilities and respond to various forms of inequality. Their existence in empowering women contributes to shaping the character of women entrepreneurs by prioritizing religious and collectivity values.Originality – This study completes the puzzle of previous research deficiencies by revealing phenomena in women's empowerment built from religious spirits and transformative movements produced by the community.
Zakat, infaq, shadaqah, and waqf using financial technology: Millennial generation perspective Nur Aisyah Indarningsih; Muhammad Agus Futuhul Ma'wa; Muh. Noval Waliyuddinsyah
Review of Islamic Social Finance and Entrepreneurship Volume 2 Issue 1, 2023
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol2.iss1.art2

Abstract

Purpose – This research is to study Zakat, Infak, Shadaqah, and Waqf (ZISWAF) through fintech for the millennial generation, considering the enormous potential of the millennial generation in Indonesia. Assisted by adopting and modifying the theories of Theory of Planned Behavior (TPB) and Unified Theory of Acceptance and Use of Technology (UTAUT).Methodology – The approach used in this research is quantitative, with primary data as the data type. The data analyst used is in the form of SEM-PLS, assisted by adopting and modifying the theories of the TPB and the UTAUT.Findings – The results show that millennial intentions to make ZISWAF payments using fintech are not affected by behavioral control, but subjective norms and performance expectations greatly impact individual attitudes. Then, in making ZISWAF payments using fintech for the millennial generation, business expectations significantly impact individual intentions. At the same time, performance expectations, facilitation conditions, and individual attitudes do not affect individual intentions. The final results show that personal views do not moderate the relationship between subjective norms, perceptions of behavioral control, and performance expectations on individual intentions to make ZISWAF payments through fintech in the millennial era.Implications – National Board of Zakat (Badan Amil Zakat Nasional, BAZNAS) and Amil Zakat Institution (Lembaga Amil Zakat, LAZ) must promote their goods in connection to ZISWAF payments on a predefined digital platform and a way to get millennials interested in ZISWAF via fintech.Originality – This study uses the collaboration theory of TPB and UTAUT, so not many use it, especially in research on public perceptions of paying ZISWAF through fintech.
Development of sustainable Tamanu industry in Indonesia based on the green waqf model through sharia crowdfunding platforms M. Khoirul Fikri; Rizky Andrean
Review of Islamic Social Finance and Entrepreneurship Volume 2 Issue 1, 2023
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol2.iss1.art6

Abstract

Purpose – This study aims to describe how the green waqf-based model through sharia crowdfunding platform for sustainable Tamanu industrial development in Indonesia. The Tamanu industry is a sustainable industry engaged in the agricultural sector (agro-based industry) based on the utilization of Tamanu plants (Calophyllum inophyllum), which can consist of the plantation industry, biofuel industry and pharmaceutical and cosmetic industry.Methodology – This research uses a descriptive qualitative approach in the form of a literature study of various literature relevant to the research topic. This research is a type of development research to formulate a model to answer the existing problems on how to find funding solutions for developing the Tamanu industry in Indonesia.Findings – A green waqf-based financing model through a Sharia crowdfunding platform can be a solution to financing the sustainable Tamanu industry.Implications – Through this model, the potential of existing waqf can be further maximized to impact the community's economic progress and environmental sustainability through developing a sustainable Tamanu industry.Originality – This model is an elaboration between studies on renewable energy, Islamic philanthropy, Sharia financial technology, and green industry to support achieving sustainable development goals in Indonesia.
An integrated cash waqf and Islamic crowdfunding model (I-CWCM) for SMEs: Policy implications for the post-Covid-19 pandemic Sulaeman; Abbiyu Muhamad Ghozali
Review of Islamic Social Finance and Entrepreneurship Volume 2 Issue 2, 2023
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol2.iss2.art5

Abstract

Purpose – This paper aims to discuss the proposed model, called Integrated Cash Waqf and Islamic Crowdfunding Model (I-CWCM), for small and medium enterprises (SMEs), including micro-enterprises and household businesses in the digital era.Methodology – The author documents some cash waqf models and Islamic crowdfunding models that have been developed by previous researchers. And then modified and introduces the I-CWCM model based on the relevant literature study.Findings – In this model, the cash waqf funds (temporary and perpetual) will be invested in Islamic investments and productive asset programs. The investment return gained from cash waqf investments will be utilized for providing financial services by using PLS financing schemes and non-PLS financing schemes for SMEs.Implications – The article is conceptual in nature, and the developed model has not been tested either through interviews or empirical testing. For further research, it is necessary to validate the model either through interviews or by developing hypotheses. Furthermore, the I-CWCM will be possible to set up Islamic social finance institutions, Islamic financial institutions, and Islamic microfinance institutions in a country with a majority Muslim population like Indonesia, especially in times of crisis such as Covid-19 outbreaks.Originality – The originality of this study is the I-CWCM will include two important unit funds: (1) the reserve fund is for sustaining the cash waqf founder, and (2) the backup risk fund is for addressing any risk in business and non-business financing activities.
Sustainable sharia company ecosystem: Independent commissioner and audit committee on Islamic social reporting Tri Wahyudi; Nur Sabrina; Camka Ayu Pratiwi; Erlina Sari Pohan
Review of Islamic Social Finance and Entrepreneurship Volume 2 Issue 2, 2023
Publisher : Center for Islamic Economics and Development Studies [P3EI]

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20885/RISFE.vol2.iss2.art2

Abstract

Purpose – Disclosure of information is crucial for company values and minimizing conflicts resulting from knowledge asymmetry, especially in social aspects. Stakeholders require information reporting that is transparent, accountable, responsible, and exhaustive. In this study, the independent variables are independent commissioners and audit committees, and the dependent variable is Islamic social reporting. The size of the company served as the control variable for this study.Methodology – The population in this study used sharia companies registered in the Jakarta Islamic Index (JII) for the period 2016-2022. This study used the purposive sampling method and selected 13 companies from a total of 30 companies with data collection twice a year. The analysis technique used is multiple linear regression with SPSSv22 software.Findings – The results of this study show that independent commissioners and audit committees do not affect Islamic social reporting.Implications – This study aims to determine the influence of independent commissioners and audit committees on Islamic social reporting.Originality – This study has originality in the form of Islamic Social Reporting (ISR) proxy variables, which combines the ISR disclosure index designed by Haniffa and Cooke (2002) and Othman and Thani (2010). There are 48 ISR disclosure items divided into six themes. In addition, in this study, there is a control variable, namely the size of the company used to improve the accuracy of the research