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Economics & Islamic Finance Journal
Published by Baca Dulu Publisher
ISSN : -     EISSN : 30474167     DOI : 10.xxxxxx/ecif
Core Subject : Economy, Humanities, Science, Social,
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences
Economics & Islamic Finance Journal (ECIF) is a peer-reviewed journal managed and published by BacaDulu Publisher which contains the results of research and thoughts from scholars in the fields of Economics & Islamic Finance both academics and practitioners, which presents the results of the latest theoretical and experimental research related to (1) Theoretical articles; (2) Empirical studies; (3) Case studies; (4) Literature reviews. Economics & Islamic Finance Journal (ECIF) is published periodically three times a year, namely in April, August & December.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 27 Documents
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Islamic FinTech: Opportunities and Challenges Shaikh, Sadaf
Economics & Islamic Finance Journal (ECIF) Vol. 2 No. 3 (2025): ECIF Journal December 2025
Publisher : Baca Dulu Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70550/ecif.v2i3.143

Abstract

Islamic FinTech, an intersection of Islamic finance principles and innovative financial technology, presents a dynamic landscape ripe with opportunities and challenges. This paper explores the burgeoning field, analyzing its potential impact on the Islamic finance industry and broader financial ecosystem. Opportunities abound in Islamic FinTech, driven by its ability to cater to the unique needs of Muslim consumers worldwide. Technology facilitates greater financial inclusion, offering Sharia-compliant solutions for banking, investment, and insurance. Digital platforms enable access to Islamic financial products and services, empowering previously underserved populations. Moreover, FinTech enhances efficiency in Islamic finance operations, streamlining processes such as compliance, risk management, and customer service.However, Islamic FinTech also faces notable challenges. Regulatory frameworks must adapt to accommodate innovative digital solutions while ensuring compliance with Sharia principles. Ethical considerations regarding data privacy, security, and transparency necessitate careful navigation. Additionally, cultural and religious diversity within Muslim communities requires tailored FinTech solutions to address varying preferences and interpretations of Islamic finance. Furthermore, technological advancements bring risks such as cyber threats and algorithmic biases, demanding robust cybersecurity measures and ethical AI practices. Moreover, the rapid pace of innovation may outstrip traditional Islamic finance education and expertise, highlighting the need for ongoing skill development and collaboration between FinTech developers and Islamic finance scholars. In conclusion, Islamic FinTech presents vast opportunities to revolutionize the Islamic finance landscape, promoting financial inclusion and innovation. However, addressing regulatory, ethical, and technological challenges is crucial to harness its full potential responsibly. Collaboration between stakeholders, including regulators, financial institutions, technology firms, and Islamic scholars, is essential to navigate these complexities and ensure the sustainable growth of Islamic FinTech.
Performance of Sharia Commercial Bank In Indonesia The Role Of Intellectual Capital And Islamicity Performance Index Mais, Rimi Gusliana; Munir, Munir; Syafrinaldi, Zidan
Economics & Islamic Finance Journal (ECIF) Vol. 2 No. 1 (2025): ECIF Journal April 2025
Publisher : Baca Dulu Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70550/ecif.v2i1.154

Abstract

This study aims to determine the effect of Intellectual Capital and Islamicity Performance Index on the profitability of Islamic commercial banks in Indonesia with the panel data analysis method using Eviews 10. The sample is determined based on the purposive sampling method, with a total sample of 6 Islamic banks and produces 30 observation samples because it uses reports annual finances. The results of the study prove that Intellectual Capital, equitable distribution ratio and Islamic income vs. non-Islamic income ratio have no effect on profitability. while the profit sharing ratio and zakat performance ratio affect profitability. This study provides evidence that the performance of Islamic banking can be proven from various aspects, the variables used in this study are influential and some are not. The implications of this research for companies are expected to be complementary material and useful input and considerations for companies and readers are expected to see the results of this research as useful information material and can be used for the benefit of readers. This research has enormous value, it is hoped that Islamic banking can apply Islamic principles in its operational activities in this study, namely Intellectual Capital, PSR, ZPR, EDR, and IIR.
Impact of Good Corporate Governance, ESG, and Capital Structure on Firm Value: An Empirical Study of Food and Beverage Companies Listed on the IDX (2021–2024) Widiyasari, Widiyasari; Mareta, Sigit
Economics & Islamic Finance Journal (ECIF) Vol. 2 No. 2 (2025): ECIF Journal August 2025
Publisher : Baca Dulu Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70550/ecif.v2i2.200

Abstract

This study aims to analyze the effect of Good Corporate Governance (GCG), Environmental Social Governance (ESG), and capital structure on firm value. The background of this research is the importance of implementing corporate governance and sustainability practices to improve competitiveness in Indonesia's food and beverage sector. This study uses a quantitative approach with secondary data obtained from annual and sustainability reports of companies listed on the Indonesia Stock Exchange during 2021–2024. Samples were selected using purposive sampling and analyzed with panel data regression using EViews. The results show that GCG and capital structure have no significant effect on firm value, while ESG has a positive and significant effect. This indicates that sustainability practices play an important role in shaping investor perception of firm value. The study implies the importance of integrating ESG principles into business strategy and corporate governance policies.  
The Role of Halal Supervisors in Assisting MSMEs in Obtaining Halal Certification at the Jakarta Sharia Quality Audit Institution in 2025 Parembai, Murni
Economics & Islamic Finance Journal (ECIF) Vol. 2 No. 3 (2025): ECIF Journal December 2025
Publisher : Baca Dulu Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70550/ecif.v2i3.208

Abstract

Halal certification is a crucial instrument for ensuring the halal status of products while strengthening business competitiveness in the global market. However, many Micro, Small, and Medium Enterprises (MSMEs) still face challenges in obtaining halal certification, including administrative challenges, regulatory compliance, and limited resources. The presence of halal supervisors at Halal Inspection Institutions (LPH) is a strategic factor in bridging this gap. This study aims to analyze the role of halal supervisors in assisting MSMEs to obtain halal certification, using a case study of the LPH Quality Syariah. The research approach employed a descriptive qualitative method through in-depth interviews with halal supervisors, MSMEs, and halal auditors. The results indicate that halal supervisors act as educators who improve halal literacy, facilitators in document preparation and administrative requirements fulfillment, mediators between MSMEs and certification institutions, and drivers of halal product competitiveness. This strategic role has resulted in an increase in the number of halal-certified MSMEs and strengthened their readiness to enter the national and global halal industry supply chain. This study emphasizes the importance of strengthening the capacity of halal supervisors and cross-institutional synergy to accelerate the implementation of halal certification in Indonesia.
Digital Muamalah Transaction Transformation: Fintech Integration with TSR Principles Erviana, Nita; Nugroho, Lucky
Economics & Islamic Finance Journal (ECIF) Vol. 2 No. 2 (2025): ECIF Journal August 2025
Publisher : Baca Dulu Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70550/ecif.v2i2.211

Abstract

This study examines the transformation of digital muamalah contracts in Islamic fintech, focusing on the integration of the Tawhid String Relationship (TSR) and Transaction Cost Theory (TCT) principles. The emerging phenomenon is a shift from conventional transactions to digital platforms that comply with Islamic principles. However, there is a gap between technological developments and Islamic jurisprudence (fiqh) understanding regarding Islamic digital transactions, leading to challenges in Islamic compliance. This study uses a qualitative approach with secondary data collection through relevant literature. The results show that the application of technologies such as blockchain and smart contracts can increase efficiency and transparency in digital transactions, but still require strict supervision to ensure compliance with Islamic principles. Maqasid Sharia serves as a foundation to ensure that every innovation continues to support the welfare of the community. The theoretical implication of this study is the development of TSR and TCT theories in the context of Islamic fintech, while the practical implication is the need for clearer regulations and more intensive education to increase Muslim literacy regarding digital contracts. This study also provides suggestions for the development of more efficient and Islamic fintech platforms in Indonesia that comply with Islamic principles.
Sharia Literacy as Social Capital: A Comparative Study between Indonesia and Other Muslim Countries Edityastono, Lintang; Ruswandi, Achmad Syaifulloh; Nugroho, Lucky
Economics & Islamic Finance Journal (ECIF) Vol. 2 No. 2 (2025): ECIF Journal August 2025
Publisher : Baca Dulu Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70550/ecif.v2i2.187

Abstract

This study examines the role of Sharia literacy as a form of social capital in strengthening Islamic financial inclusion, with a comparative lens between Indonesia and several Muslim-majority countries. Sharia literacy is conceptualized not only as an understanding of Islamic financial principles and products, but also as a moral and spiritual awareness that shapes trust, solidarity, and social responsibility within Muslim communities. Although Indonesia aspires to become a global hub for Islamic economics, national Islamic financial literacy remains low at 9.10%, far behind conventional literacy levels. This gap reveals challenges in transforming knowledge into inclusive financial behavior. Through a quantitative associative approach, this study highlights how Sharia financial literacy and Islamic social capital jointly influence Islamic financial inclusion. The literature shows that Sharia literacy enhances ethical financial decision-making, while social capital accelerates the diffusion of trusted information and strengthens community engagement in Sharia-compliant financial systems. Comparative insights indicate that Malaysia excels in structured financial education, Türkiye emphasizes ethical-social integration, and Pakistan and Bangladesh grow through community-based Islamic microfinance. Meanwhile, Indonesia faces additional digital-era challenges, including religious misinformation that weakens trust and social cohesion. The findings reinforce that strengthening Sharia literacy requires integrated strategies—formal education, digital literacy, ethical media engagement, and collaboration between government, academia, and Islamic financial institutions. Overall, this study underscores that Sharia literacy, when supported by strong social capital, functions as a foundational driver for a just, inclusive, and sustainable Islamic financial ecosystem in modern Muslim societies.
The Effect of Ownership Structure and Profitability on the Dividend Policy of Manufacturing Companies Listed on the Indonesian Stock Exchange between 2020 and 2024 Desmizar, Desmizar
Economics & Islamic Finance Journal (ECIF) Vol. 2 No. 3 (2025): ECIF Journal December 2025
Publisher : Baca Dulu Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.70550/ecif.v2i3.251

Abstract

This study aims to determine the effect of ownership structure and profitability on dividend policy of manufacturing companies listed on the Stock Exchange 2020-2024. The ownership structure is measured by institutional ownership and managerial ownership, profitability measured by return on assets (ROA) and net profit margin (NPM), and dividend policy measured by dividend payout ratio (DPR). The population in this study is 133 companies manufacturing companies listed on the BEI 2020-2024. Using purposive sampling method obtained 11 companies that meet the criteria of sampling. Data analysis using descriptive statistics, normality test, multiple regression analysis and hypothesis testing. The error rate or significance used is 5%. T test results show that managerial ownership and NPM are negatively affected on dividend policy, ROA has a positive effect on dividend policy, while institutional ownership have no effect on dividend policy.

Page 3 of 3 | Total Record : 27

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