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ANANTO TRIWIBOWO
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INDONESIA
International Journal of Islamic Economics (IJIE)
ISSN : 26862131     EISSN : 26862166     DOI : https://doi.org/10.32332/ijie.v6i01
Core Subject : Economy,
International Journal of Islamic Economics accepts manuscripts whose topics are in range of economic fields and employs standard economics analysis tools focusing on issues pertaining to Philosophy of Islamic Economics, Islamic Economic Thought, Islamic Economics and Contemporary Issues and Islamic philanthropy (zakat, waqf, sadaqah, and infaq). The topics might be an observation of current economic phenomena that highlights the problem of conventional economic system.
Articles 78 Documents
THE ALTERNATIVE ISLAMIC PRICING BASED ON NATURE OF BUSINESS Rachmawaty Rachmawaty
Jurnal Internasional Ekonomi Islam Vol 2 No 01 (2020): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v2i01.2003

Abstract

The contradictive of using interest rate as Islamic Pricing Benchmark (IPB) has been discussed among scholars. A lot of alternatives has been offer by scholars but the implementation is based on market choice which are the competitive pricing of interest rate and the advantage of majority share of conventional financing. In this paper there will be 3 objectives; first to give information of literatures review for some alternatives that already offer by scholars, second is to give information about pro and cons of using interest rates as the benchmark of cost of fund for Islamic Financial Institutions and the final objective is what author’s opinion and what kind alternative that author will provide based on literature review and author’s logic sense. The alternative IPB will be explained in this paper is based on nature of business, which will be categorized as IPB for debt financing, equity financing and combine financing. To implement IPB there are some infrastructure that will need to adjust in order to create fair environment such as educate customer and change the behaviour of customer to choose financing product, to change the role of bank and to see the paradigm of cost of statuary reserve requirement in central bank.
Determinants of Micro and Small Business Actors on the Motivation to Register for Free Halal Certification in Bondowoso Regency Mahendra, Hairunnas Esa; Munir, Misbahul; Ridlwan, Mahmudah
Jurnal Internasional Ekonomi Islam Vol 6 No 01 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i01.9143

Abstract

Introduction: Government regulations on halal products, especially in the 2021 Job Creation Law, have been stipulated in the Halal Product Guarantee Law, this is an important factor for producers in the business sector related to halal products, especially since there is a free halal certification program. Objectives: The purpose of this study is to measure the motivation of micro and small business actors in Bondowoso Regency towards registering for free halal certification. Method: This study uses a quantitative approach with multiple linear regression analysis which aims to test the correlation of the variables of Government Regulation (X1), Halal Lifestyle (X2), Perceived Benefits of Halal Certification (X3), Business Competitiveness (X4), Product Safety and Hygiene (X5), to Motivation for Free Halal Certification Registration (Y1). Results: The results showed that government regulations, halal lifestyle, and product safety and hygiene had no significant partial effect on the motivation to register for free halal certification. Meanwhile, the perceived benefits of halal certification and business competitiveness have a partially significant effect on the motivation to register for free halal certification. However, these 5 variables simultaneously affect the motivation to register for free halal certification so it is worthy of being a construct of this study. Implications: The research will provide an overview of the relevant approaches that must be taken to attract micro and small business actors to register for free halal certification.
Micro Business Empowerment: Strategies of Amil Zakat, Infaq and Sadaqah University of Muhammadiyah Yogyakarta Sania, Ana; Sutrisno; Aslam, Ejaz
Jurnal Internasional Ekonomi Islam Vol 6 No 02 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i2.8965r

Abstract

Introduction: Poverty significantly impacts the social, economic, political, and health sectors. To reduce the poverty rate, appropriate solutions are needed, one of which is community-based microeconomic empowerment through the development of Micro, Small, and Medium Enterprises through the role of government, financial institutions, and society. Muhammadiyah amil zakat, infaq, and sadaqah institutions have Micro, Small, and Medium Enterprise empowerment programs in the economic field. Objective: This research aims to find out the micro business empowerment strategy carried out by Muhammadiyah Zakat, Infaq, and Sadaqah Institution Muhammadiyah Yogyakarta University Service Office of the micro business empowerment program carried out by Muhammadiyah Zakat, Infaq, and Sadaqah Institution Muhammadiyah Yogyakarta University in Yogyakarta. Method: This research uses a qualitative research method, a research method used to examine a natural or natural object. The researcher is the key instrument, and data collection techniques use triangulation. Result: The findings show that Muhammadiyah Zakat, Infaq, and Sadaqah Institution Muhammadiyah Yogyakarta University's micro business empowerment strategy is an integrated plan, implementation, and evaluation. Empowerment assistance, training, consultation, and motivation can help business actors develop their businesses. Implication: The research highlights the effectiveness of an integrated approach to micro-business empowerment. This suggests that combining planning, implementation, and evaluation in a cohesive strategy is crucial for successful business development. The findings provide valuable insights into how systematic support structures can significantly impact micro-businesses.
Risk Assessment of Trade Barriers: The Implications of Indonesia's Halal Certification Law on International Commerce Amijaya, Rachmania Nurul Fitri; Asa Prayarsni Korina; Rochmatulloh Alaika; Hilda Lutfiani
Jurnal Internasional Ekonomi Islam Vol 6 No 02 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i2.9028

Abstract

Introduction: The importance of halal standards in international commerce has increased as the volume of cross-border trade has increased. This article investigates the ramifications of Indonesia's Halal Product Guarantee Law on global trade, specifically focusing on its arrangement with World Trade Organization rules, explicitly the Specialized Technical Barriers to Trade Agreement. Even though the Halal Product Guarantee Law requires halal certification, it could be seen as a trade barrier because it could impose too many regulations and encourage discrimination against imported goods. Objective: This study discusses the implications for international trade of the Halal Product Guarantee Law's potential violations of the Technical Barriers to Trade Agreement and emphasizes the necessity of globally consistent and uniform halal certification standards. Method: This study analyzes the Halal Product Guarantee Law about important World Trade Organization principles like National Treatment and Most Favored Nation using a descriptive qualitative research methodology and drawing from previous literature reviews. Result: According to the findings, the Halal Product Guarantee Law may violate World Trade Organization regulations, which would have a significant impact on international trade and raise questions regarding the uniformity, adaptability, and consistency of halal certification. Implication: The article emphasizes the significance of evaluating the Halal Product Guarantee Law's compliance with World Trade Organization agreements to support the expansion of the halal market, respect religious beliefs, and ensure fair and balanced international commerce.
Reputational Risk Management Strategies for Islamic Banking:  Comparison of Bank Victoria Syariah and Bank Syariah Indonesia Oftafiana, Triya; Subagiyo, Rokhmat; Nur Asiyah, Binti; Fauzan
Jurnal Internasional Ekonomi Islam Vol 6 No 02 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i2.9417

Abstract

Introduction: Reputation reflects a public perception of banking activities. The existence of reputation risks can affect the performance of the banking industry sector because they can lead to various other risks. In 2023, Bank Victoria Syariah and Bank Syariah Indonesia, as Islamic banking in Indonesia, experienced reputational risk and caused different impacts. Objective: This study aims to determine the reputation risk management strategies of Bank Victoria Syariah and Bank Syariah Indonesia in mitigating, managing, and controlling reputation risk and then compare them. Method: The research approach used is a comparative qualitative approach. The research data was obtained from risk management reports contained in the annual reports of Bank Victoria Syariah and Bank Syariah Indonesia in 2023. Result: The results showed that Bank Victoria Syariah and Bank Syariah Indonesia focus on monitoring risk exposure and handling customer complaints. Bank Victoria Syariah's reputation risk management strategy focuses more on risk mitigation measures and proper risk handling so that the company continues to grow healthy and perform well after the case. While Bank Syariah Indonesia focuses its reputation risk management strategy on mitigation actions and post-disaster reputation recovery (disaster recovery), its implementation has not been maximized, impacting the decline in BRIS shares. Implication: The results of this research are expected to provide an understanding to readers and be used as a material of consideration for financial institutions as a reference material in addressing reputational risks that threaten the main institutions of Sharia Banking
The Effect of Internet Banking, Product Advantages, and Customer Relationship Management on Customer Loyalty at Bank Syariah Indonesia Semarang City Wardana, Yanuar Wendy; Iqbal Reza Pratama
Jurnal Internasional Ekonomi Islam Vol 6 No 02 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i2.9443

Abstract

Introduction: The growing significance of customer loyalty in the competitive landscape of Islamic banking underscores the need for Bank Syariah Indonesia to understand the key factors that influence it, particularly in Semarang City. Objective: This research aims to analyze the effect of Internet banking, product advantages, and customer relationship management on customer loyalty at Bank Syariah Indonesia in Semarang City. Method: A non-probability sampling technique was applied, explicitly utilizing the snowball sampling method, which started with a small initial group of respondents and expanded through referrals. The sample obtained in this research was 100 Bank Syariah Indonesia customers in Semarang City. The data were analyzed using various statistical tests, including validity and reliability checks, classical assumption tests (normality, multicollinearity, heteroscedasticity), and multiple linear regression with Statistical Package for the Social Sciences (SPSS) v.26. Result: The findings show that Internet banking, product advantages, and customer relationship management positively and significantly affect customer loyalty. This study shows that Internet banking, product excellence, and customer relationship management significantly affect customer loyalty at Bank Syariah Indonesia Semarang City. These variables can explain 66.1% of the variance in customer loyalty, while other factors influence the remaining 33.9%. Implication: The impact of this research provides strategic insights for Bank Syariah Indonesia or other banks to understand better and fulfill customer needs, which ultimately can increase customer loyalty and satisfaction in the long term.
Producer and Consumer Behavior towards the Consumption of Halal Food and Beverages Rizqa, Agitsna Alya; Afandi, Mukhamad Yazid
Jurnal Internasional Ekonomi Islam Vol 6 No 02 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i2.9545

Abstract

Introduction: Indonesia, as a country with a majority Muslim population, shows its concern for religion by consuming halal food and beverage products. Balanced consumption in Islam is implemented by avoiding tabzir and israf behavior. Objective: The method used is literature with qualitative data to describe community behavior from the producer and consumer sides when considering daily halal food and beverages. Method: The research approach used is a comparative qualitative approach. The research data was obtained from risk management reports contained in the annual reports of Bank Victoria Syariah and Bank Syariah Indonesia in 2023. Result: The result of this study is that consumers still think that halal food and beverages are only based on whether the product contains pork and dog meat and their derivatives or not. The obstacles from related agencies are moving institutions and processes that are still confusing and centralized, so there is a lack of human resources. Producer constraints are related to high costs, business management unpreparedness, and lack of socialization and awareness to register their products. Business actors' fraud against the halal label cannot be handled seriously with the policy of the halal product guarantee agency. Implication: This study increases awareness and adherence to halal standards among the public, including producers, consumers, and related institutions.
The Potential of Halal Micro, Small, and Medium Enterprises and Halal Lifestyle in Building the Indonesian Economy Rigina Melati, Risni; Amirudin, Choirul
Jurnal Internasional Ekonomi Islam Vol 6 No 02 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i2.9570

Abstract

Introduction: Indonesians contribute to the national Gross Domestic Product, contributing 60.5%. The number of Muslim populations in Indonesia is the most important compared to other countries, thus creating a large market for halal products. Objective: The research can provide an in-depth understanding of the market potential for Micro, Small, and Medium Enterprises focusing on halal products. This research also aims to understand how these halal products are related to the halal lifestyle, which is a lifestyle that complies with the principles of Islamic sharia in various aspects of life. Method: This research is considered most appropriate using a descriptive qualitative approach with a literature review. Data sources use secondary data. Furthermore, descriptive analysis techniques are used to analyze the collected data. Result: The results of the study show that to increase Indonesia's role in the global halal industry, steps are needed, such as halal certification, training and mentoring for Micro, Small, and Medium Enterprises, financial service facilities, and socialization regarding the importance of halal products. Implication: In general, the expected impact of this research is the creation of a more robust and more competitive ecosystem for halal Micro, Small, and Medium Enterprises in Indonesia, which will strengthen the national economy and improve Indonesia's position in the global halal industry.
The Influence of Digital Economic Growth and Productive Work Force Toward Human Development Index in Indonesia Viewed from a Maqashid Sharia Perspective Malik, Anas; Novelia, Alika; Moh Mukri; Baharuddin, Sitti Aminah
Jurnal Internasional Ekonomi Islam Vol 6 No 02 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i2.9639

Abstract

Introduction: Community productivity is critical in maintaining quality of life to avoid disasters. The use of digital technology in the economic aspect has also provided opportunities for people far from the market to earn income to meet their living needs. Objective: The research problem is formulated as follows: What is the influence of digital economic growth and productive labor on the Human Development Index in Indonesia in 2018-2022, both partially and simultaneously, and how is this viewed from a maqasid syariah perspective?Method: This research is presented as five-year time series data and analyzed using quantitative descriptive methods and multiple linear regression analysis, using Eviews 10 as an analytical tool. The sampling technique used was purposive sampling, with sample criteria in the form of digital economic growth, productive workforce, and data during the 2018-2022 period. Result: The digital economic growth variable partially has a negative and insignificant effect on the Human Development Index. Meanwhile, the productive labor variable positively and significantly affects the Human Development Index. Simultaneously, the growth of the digital economy and productive workforce has had a positive and significant effect on the Human Development Index in Indonesia in 2018-2022. From a maqasid syariah perspective, digital economic activities are permitted if no arguments prohibit them. Implication: This research provides valuable insights that can influence how we view and approach digital economic growth and productive labor in Indonesia's human development context. By considering these impacts, various parties can optimize their strategies to advance people's quality of life more effectively.
How Perceived Value Mediates Muslim Consumer Loyalty to Halal Cosmetics: An Analysis of Labelling, Price, and Quality Sholeh, Khabib; Afif Zaerofi; Yono Haryono
Jurnal Internasional Ekonomi Islam Vol 6 No 02 (2024): International Journal of Islamic Economics
Publisher : The Postgraduate of Institut Agama Islam Negeri Metro Lampung

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.32332/ijie.v6i2.9732

Abstract

Introduction: Community productivity is critical in maintaining quality of life to avoid disasters. The use of digital technology in the economic aspect has also provided opportunities for people far from the market to earn income to meet their living needs. Objective: This quantitative study aimed to explore the impact of halal labeling, price, and product quality on consumer loyalty toward Indonesian skincare products among Muslim consumers in the Jabodetabek area. Specifically, it examines the mediating role of perceived value in these relationships. Method: Primary data were collected through a questionnaire distributed to 115 Muslim respondents who used Indonesian skincare products from Jabodetabek. The study employed random sampling was used for the participant selection. For data analysis, Structural Equation Modeling (SEM) using Partial Least Squares (PLS) was used to assess both the direct and indirect effects of the variables. Result: This finding revealed that labeling and price do not directly affect consumer loyalty. At the same time, product quality and perceived value do, with the latter being positively influenced by price and product quality. The study also concludes that perceived value is a crucial driver of consumer loyalty, emphasizing that companies should focus on enhancing product quality and perceived value to strengthen consumer loyalty while recognizing that halal labeling, although important in principle, does not directly impact consumer loyalty or perceived value. Implication: The findings suggest that product quality and perceived value are critical drivers of consumer loyalty for skincare products targeting Muslim consumers in Jabodetabeky. Halal labeling, while necessary in principle, does not directly influence loyalty or perceived value. Companies should prioritize enhancing product quality and delivering perceived value to strengthen consumer loyalty while considering competitive pricing strategies that enhance perceived value.