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Shariah Banking Study Program, Faculty of Islamic Economics and Business, UIN Raden Mas Said Surakarta. Jl. Pandawa No. 1, Pucangan, Kartasura, Central Java, Indonesia, 57168. Phone: 02271 781516, Fax: 02271 782774
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Journal of Finance and Islamic Banking
Published by Universitas Islam Negeri Raden Mas Said Surakarta
ISSN : 26152967     EISSN : 26152975     DOI : prefix 10.22515/jfib
Core Subject : Religion, Economy, Social,
Religion Economics, Econometrics & Finance Social Sciences
Journal of Finance and Islamic Banking is a peer reviewed journal that is published by the Sharia Banking Department of UIN Raden Mas Said Surakarta in collaboration with the scholars association Ikatan Ahli Ekonomi Islam, published biannually in June and December. This journal publishes current, original research on Islamic finance and Islamic banking. The Journal of Finance and Islamic Banking openly welcomes scholars, postgraduate students, and practitioners to submit their best research articles that correspond to the topics.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Keuangan
Articles 6 Documents
 1 
Search results for , issue "Vol. 8 No. 2 (2025)" : 6 Documents clear
Marketing Adaptation in Sharia Based Cooperative Finance during a Global Health Crisis Ma'ruf, Aminudin; Ahmad Athoillah Azzakiy; Sausan Liski Aulia; Shahbaz Alam
Journal of Finance and Islamic Banking Vol. 8 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i2.11604

Abstract

Purpose: This study aims to examine how Sharia based cooperatives adapted their marketing strategies for financing products during the COVID 19 pandemic, with a focus on Sharia cooperatives operating in Klaten City. The study also explores the key obstacles faced and the solutions adopted during the global health crisis. Method: This research employs a qualitative field research approach using inductive analysis. Data were collected through in depth interviews with managers of four Sharia cooperatives or Baitul Maal wat Tamwil institutions in Klaten City to capture institutional responses to pandemic related disruptions. Result: The findings show that Sharia cooperatives adapted their marketing strategies by targeting business sectors that remained active, applying the marketing mix strategy covering product price place and promotion, and strengthening marketing communication with members. However, several challenges emerged, including social distancing restrictions, intense institutional competition, and limited human resource capacity in Sharia financing and digital marketing. Implication: The study highlights the importance of adaptive marketing strategies and digital readiness to ensure the sustainability of Sharia cooperative finance during crisis conditions. Originality: This study provides empirical insights into marketing adaptation strategies of Sharia cooperatives during a global health crisis, contributing to the literature on Islamic cooperative finance and crisis management.
Digital Transformation in Islamic Banking: Examining User Adoption of BYOND BSI in Indonesia Defrangga Piyu Pramudita; Rahmadani Aidil Fitrocahya; Mochamad Fuad Marzuki; Titis Miranti; Tiara Juliana Jaya
Journal of Finance and Islamic Banking Vol. 8 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i2.12803

Abstract

Purpose: This study investigates the effects of perceived ease of use, perceived enjoyment, e service quality, and technostress on the decision to use the BYOND BSI super app within the digital transformation of Islamic banking in Indonesia, focusing on Islamic university students in the Malang Raya region. Method: A quantitative approach was applied using a structured questionnaire administered to 100 respondents. Data were analyzed using Partial Least Squares Structural Equation Modeling through SmartPLS 3.0 to assess the influence of digital factors on user adoption. Result: The findings show that perceived ease of use and technostress significantly affect the decision to use BYOND BSI, while e service quality has a moderate effect and perceived enjoyment is not significant. These results suggest that adoption behavior is primarily driven by functional convenience and technological pressure rather than hedonic motivation. Implication: The study extends the Technology Acceptance Model by incorporating technostress in the context of Islamic digital banking and highlights the need for simple system design reliable services and improved digital literacy to reduce user stress. Originality: This study contributes to Islamic fintech literature by empirically integrating technostress into the TAM framework and explaining user adoption behavior in Indonesia.
Artificial Intelligence and Machine Learning in Financial Industry Transformation: A Comparative Analysis of Conventional and Sharia Fintech in Indonesia Maman, Nurmansyah Extrasona; Susila, Wahyu Dwi Agung Priyo
Journal of Finance and Islamic Banking Vol. 8 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i2.12901

Abstract

Purpose: This study examines the role of Artificial Intelligence (AI) and Machine Learning (ML) in transforming Indonesia’s financial industry by comparing their implementation in a conventional fintech company (JULO) and a Sharia-compliant fintech company (ALAMI). The study focuses on differences in AI adoption, value orientation, and their implications for operational efficiency and ethical compliance. Method: This research employs a qualitative comparative case study using secondary data sources, including corporate reports and relevant literature. The analysis is guided by the Technology–Organization–Environment (TOE) framework, Socio-Technical Systems Theory, and Maqasid al-Shariah. Result: The findings show that both companies utilize AI and ML to enhance decision-making and operational efficiency. However, JULO prioritizes speed and scalability, while ALAMI integrates Sharia principles such as justice, transparency, and the avoidance of riba. Implication: The study highlights the importance of aligning AI innovation with ethical and Sharia values in Islamic fintech development. Originality: This study offers a comparative, value-based analysis of AI-driven fintech from conventional and Sharia perspectives in Indonesia.
Institutional Roles of Islamic Microfinance in Countering Informal Moneylenders: Evidence from Rural Communities Muslim Marpaung; Fitri, Yona; Khaidar Rahmaini Jamila; Yekti Mahanani
Journal of Finance and Islamic Banking Vol. 8 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i2.13106

Abstract

Purpose: This study examines the role of PNM Mekaar Syariah in preventing the expansion of informal moneylending practices in rural communities, particularly among women micro entrepreneurs with limited access to formal financial services. It focuses on how Islamic microfinance mechanisms and group based empowerment reduce dependence on usurious lending. Method: A qualitative ethnographic approach was employed through participant observation, semi structured interviews, and field immersion within selected rural beneficiary groups. Data were thematically analyzed to capture patterns of financial behavior, social capital formation, and changes in borrowing practices. Results: The findings indicate that PNM Mekaar Syariah strengthens financial discipline, enhances entrepreneurial capacity, and builds trust based social capital through group financing structures. Beneficiaries demonstrate increased financial autonomy and a notable decline in reliance on informal moneylenders. Nevertheless, the study identifies the need for continuous financial education and digital payment integration to ensure long term sustainability. Implication: The study highlights Islamic microfinance as an effective community based strategy for preventing predatory lending and promoting sustainable financial inclusion in rural areas. Originality: This research offers ethnographic insights into Islamic microfinance by integrating social, behavioral, and religious dimensions in addressing informal moneylending practices in rural Indonesia.
Global Uncertainty in Moderating Macroeconomics on Banking Stability in Islamic Commercial Banks in Indonesia Putri Anggraeni, Novita; Nurasri Sudarmawan, Barianto
Journal of Finance and Islamic Banking Vol. 8 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i2.13117

Abstract

Purpose: This study analyzes the role of the World Uncertainty Index (WUI) in moderating the influence of macroeconomic conditions namely GDP, inflation, and exchange rate on the stability of Islamic banking in Indonesia during 2015 Q1 – 2024 Q4. Method: A quantitative approach was used through multiple linear regression and Moderated Regression Analysis with 40 quarterly data from the Financial Services Authority, Trading Economics, and FRED. Stability was measured using Z scores. Results: Gross Domestic Product and inflation have a significant positive effect on stability with coefficients of β = 0.704421 and β = 0.191898, respectively. The exchange rate is not significant. The World Uncertainty Index has a significant negative effect with β = 18.74672. As a moderator, the World Uncertainty Index strengthens the effect of Gross Domestic Product and exchange rate and weakens the effect of inflation. The R-squared value of 0.771887 indicates a strong explanatory power of the model. Implications: The results of the study emphasize the need for adaptive macroprudential policies to maintain the stability of Islamic banking amid increasing global uncertainty. Originality: This study contributes by including global uncertainty as a moderating variable, thereby broadening the understanding of the determinants of Islamic banking stability.
Productive Waqf Management and Socio Entrepreneurship: The Role of Mosque Based Family Waqf in Indonesia Dikuraisyin, Basar; Yani, Achmad
Journal of Finance and Islamic Banking Vol. 8 No. 2 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jfib.v8i2.13134

Abstract

Purpose: This study examines a new model of family waqf asset management involving nadzir and wakif as socio-preneurs at the Sabilillah Mosque in Malang Indonesia. Until now, the problem of potential waqf land has been unable to be developed productively. Expert waqf land is also not managed due to traditional reasons. Method: This study offers a solution by using a qualitative case study approach, with data collected through in-depth interviews and document analysis involving mosque administrators (nazhir), wakif families, and beneficiaries. Results: The findings show that the family waqf management model by the nadzir effectively combines religious motivation with the principles of social entrepreneurship—emphasizing trusst, collaboration, and the creation of shared value rather than profit maximization. Implications: These research findings provide a new concept for managing productive waqf for the family micro-sector, particularly utilizing family land waqf to be productive through cooperation between the nadzir and wakif. Originality: This study identifies a new conceptual framework in which family waqf also benefits from waqf management to achieve family economic resilience. This model increases family income, strengthens social solidarity, and positions mosques as catalysts for social economy rather than merely religious institutions.

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