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Islamic Micro Finance Journal
Published by Institut Agama Islam Al-Fatimah Bojonegoro
ISSN : -     EISSN : 30634644     DOI : -
Core Subject : Religion, Economy, Social,
Religion Economics, Econometrics & Finance Social Sciences
Islamic Micro Finance Journal: a Research Journal on Islamic Micro Finance is a peer-reviewed journal. Specifically, the journal will deal with following topics: Islamic Micro Finance Islamic Public Finance Islamic Monetary Islamic Fiscal Islamic Banking Islamic Capital Markets Islamic Investment Islamic Economics Islamic Accounting
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Keuangan
Articles 20 Documents
 1   2 
Enterprise Risk Management in Detecting and Preventing Fraudulent Financial Statements Aulia, Ismi Fitri; Putri, Devi Lestari Pramita; Rahmaniyah, Rahmaniyah
Islamic Micro Finance Journal Vol. 1 No. 3 (2024): Edisi III, Oktober 2024
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

The occurrence of fraud is a challenge that every business entity will inevitably face. Historical phenomena of fraud scandals, such as those involving Enron and Worldcom, have demonstrated that robust internal control systems alone are insufficient in preventing fraud, particularly fraudulent financial statements. This study aims to explain how Enterprise Risk Management (ERM) plays a role in anticipating the adverse effects of fraudulent financial reporting. The research is based on a library study, with data gathered from literature sources such as books, encyclopedias, scientific journals, newspapers, magazines, and documents. The results of this study indicate that while ERM can effectively prevent and detect fraud, it is not entirely sufficient to prevent fraudulent financial statements. More effective prevention and detection require the presence and proper functioning of the eight components of ERM, which include the internal environment, objective setting, event identification, risk assessment, risk response, control activities, information & communication, and monitoring, within the organization
The Influence of Market Segmentation and Targeting on Purchase Decisions of Youth Angkringan Businesses in Wonodadi District, Blitar Sulchan, Moch; Rahmawati, Anis
Islamic Micro Finance Journal Vol. 1 No. 3 (2024): Edisi III, Oktober 2024
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

This study aims to determine the impact of market segmentation and targeting strategies on the purchasing decisions of Youth Angkringan enterprises in Wonodadi District, Blitar. The study investigates how these factors influence purchase decisions using a quantitative, associative research approach. The sample comprises 100 respondents, selected through a saturated sampling technique from the entire population. Primary data was collected via questionnaires distributed to Youth Angkringan businesses in the district. SPSS 23 was used to perform path analysis, with a significance level set at 0.05. The findings reveal that market segmentation has a significant and positive effect on the purchasing decisions of Youth Angkringan enterprises in Wonodadi District. Additionally, the target audience also plays a crucial and beneficial role in shaping purchasing decisions for these businesses
The Effectiveness of Implementing The Khalifatullah Fill Ardh Philosophy in Increasing Financial Transparency Uyun, Jamilatul; Kusuma, Nailah Aka
Islamic Micro Finance Journal Vol. 1 No. 3 (2024): Edisi III, Oktober 2024
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

Financial transparency is a crucial element of good governance and organizational accountability. One philosophy that can be applied to enhance financial transparency is the Khalifatullah Fill Ardh concept. This research aims to evaluate the effectiveness of the Khalifatullah Fill Ardh philosophy in improving financial transparency in mosques. The study employs a qualitative method with a descriptive approach, focusing on the Al-Ikhwan Mosque as its research object. The findings reveal that the takmir (management board) of the Al-Ikhwan Mosque has not effectively implemented the principles of the Khalifatullah Fill Ardh philosophy, which include the traits of apostleship (siddiq, amanah, tabligh, and fathanah). Moreover, financial management and accountability are centralized under the chairman of the takmir, resulting in insufficient financial transparency and accountability within the mosque. Future research is encouraged to explore the application of other principles of the Khalifatullah Fill Ardh concept to enhance financial transparency, using the same or different research objects
Analysis of the Role of Baznas Village Microfinance in Empowering the Economy of Micro-Entrepreneurs Among Mustahik Ubed, Fahrul; Mugiyati, Mugiyati
Islamic Micro Finance Journal Vol. 1 No. 3 (2024): Edisi III, Oktober 2024
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

Baznas Village Microfinance (BMD) is one of the programs initiated by the National Zakat Amil Agency (BAZNAS), designed to support mustahik micro-businesses in specific areas. BAZNAS is the official and sole institution established by the government under Presidential Decree No. 8 of 2001, tasked with collecting and distributing zakat, infaq, and alms (ZIS) at the national level. This research aims to analyze the Baznas Village Microfinance program in empowering the economy of mustahik micro-entrepreneurs. The study employs a qualitative approach through field research and literature review. Data collection methods include observation and interviews, which are then analyzed and presented qualitatively. The findings indicate that the Baznas Village Microfinance program significantly contributes to improving access to business capital, enhancing economic conditions, and providing entrepreneurship training for beneficiaries through the utilization of productive zakat funds. As a result, the program effectively empowers the economy of mustahik micro-businesse
Analysis of the Impact of Usury Practices on Economic Stability from an Islamic Perspective Nisa, Chairun; Hamidah, Nazala Zalfa; Kusumawati, Nabila Dhea; Taufikurrahman, Taufikurrahman
Islamic Micro Finance Journal Vol. 1 No. 3 (2024): Edisi III, Oktober 2024
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

This article examines the usury (riba) concept from an Islamic perspective and its implications for economic systems and social life. Riba, which means "excess" or "addition," is prohibited in Islamic teachings as it is considered a form of injustice and exploitation. Through an analysis of Quranic verses and Hadith, the article explains the theological and moral foundations behind the prohibition of riba. It also explores various types of riba, including riba nasiah (interest on loans) and riba fadl (unequal exchange of similar goods), as well as their impact on individuals and society. In the modern context, the article highlights the challenges Muslims face in avoiding riba amidst a global financial system dominated by interest. Proposed solutions include strengthening Islamic financial systems and educating communities on the importance of fair and riba-free transactions. This study aims to raise awareness about the dangers of riba and promote the implementation of Islamic economic principles in daily life
Contribution of Zakat Institutions to the Strengthening and Development of Islamic Religious Education in Indonesia Ilma, Miftahul; Pratiwi, Audya; Ningtias, Risky Cahya
Islamic Micro Finance Journal Vol. 2 No. 1 (2025): Edisi IV, Februari 2025
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

Zakat, as one of the pillars of Islam, is not only an act of worship but also holds substantial potential as a source of social and economic funding, particularly in supporting the education sector. This study aims to explore the role of zakat in achieving the goals of Islamic education in Indonesia, focusing on improving quality, inclusivity, and equity in education. The research adopts a qualitative approach with a literature review method, where data are sourced from books, scientific articles, and journals. The findings reveal that zakat can be a sustainable funding mechanism for enhancing access to Islamic education, particularly in underprivileged communities. Properly managed zakat funds have been shown to support scholarship programs, infrastructure development, and various educational initiatives, which directly contribute to raising educational standards across the country. This study contributes to the growing discourse on zakat's strategic role in education by providing insights into how its optimization can serve as a cornerstone for developing an inclusive and balanced Islamic education system in Indonesia. By highlighting the transformative potential of zakat, this research underscores the need for effective zakat management and collaboration among stakeholders to realize its full benefits for the education sector
Trends in Islamic Microfinance Research: A Bibliometric Analysis Using VOSviewer Purnomo, Joko Hadi
Islamic Micro Finance Journal Vol. 2 No. 1 (2025): Edisi IV, Februari 2025
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

This study conducts a bibliometric analysis of Islamic microfinance research, utilizing ScienceDirect as the data source and VOSviewer for visualization. A total of 2,826 publications were identified, with a notable surge in research interest over the past decade, culminating in 2024 with the highest number of publications (380). The analysis uncovers key thematic clusters in Islamic microfinance research, including poverty alleviation, entrepreneurship, Sharia compliance, and social impact, emphasizing the multidimensional nature of the field. Network visualizations reveal co-occurrence patterns of keywords, highlighting prominent topics such as “poverty” and “development” or “entrepreneurship” and “financing.” Overlay visualizations identify emerging trends, such as the increasing role of technology and financial innovation in Islamic microfinance. Co-authorship analysis uncovers collaboration patterns, with significant contributions from influential researchers and institutions. Despite advancements, notable gaps persist, particularly in integrating environmental sustainability and addressing regional disparities. This study underscores the evolving role of Islamic microfinance in promoting financial inclusion, ethical financing, and socio-economic development. Future research should adopt interdisciplinary approaches, leverage technological advancements, and address sustainability issues to maximize the global impact of Islamic microfinance
Enhancing Public Service Quality Through the Lens of Islamic Economics Nurhayati, Endang; Mustafidah, Wiwit
Islamic Micro Finance Journal Vol. 2 No. 1 (2025): Edisi IV, Februari 2025
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

This study aims to evaluate the quality of public services from an Islamic economic perspective. A qualitative method was employed, with data collected through observation, interviews, and documentation techniques. The study was conducted in Dasri Village, Tegalsari Subdistrict, Banyuwangi District, East Java, Indonesia. The findings highlight several key indicators of public service quality in governance based on an Islamic perspective: fairness, transparency and accountability, community welfare, and community participation in decision-making. Fairness is implemented by the government through the principle of Amanah, emphasizing sincerity and a free-of-charge service system. Transparency and accountability are demonstrated through an open system without concealed information, allowing the public to access all relevant processes. Community participation in decision-making is facilitated through regular meetings and discussion forums, enabling the government to incorporate community input and actively involve citizens. Lastly, community welfare is promoted by ensuring effective access to services and fostering strong relationships between the village government and its residents
Analysis of the Effect of Musyarakah Financing on Net Profit and Profit-Sharing: A Study on Bank Syariah Indonesia Sasmita, Lintang Auliya; Setiawan, Nanang
Islamic Micro Finance Journal Vol. 2 No. 1 (2025): Edisi IV, Februari 2025
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

This study aims to analyze the effect of musyarakah financing on net profit and profit-sharing at Bank Syariah Indonesia. The research employs a descriptive quantitative method with regression analysis, utilizing secondary data obtained from the financial reports of Bank Syariah Indonesia for the 2020 to 2023 period. The findings reveal that musyarakah financing has a significant positive effect on net profit. An increase in musyarakah financing has been proven to drive net profit growth, which subsequently contributes to the enhancement of profit-sharing distribution to shareholders and customers. These findings emphasize that musyarakah financing not only aligns with Sharia principles but also serves as an effective strategy to improve the financial performance of Islamic banks. Thus, musyarakah financing can be a viable solution within the Islamic banking system, particularly in supporting profitability and business sustainability. This study recommends that Bank Syariah Indonesia further optimize musyarakah financing as one of the main instruments in Sharia financial management, focusing on increasing net profit and profit-sharing
Shariah Governance and Financing Risk in Islamic Banks: A Conceptual Analysis Fuad, Yahya
Islamic Micro Finance Journal Vol. 2 No. 1 (2025): Edisi IV, Februari 2025
Publisher : Institut Agama Islam Al-Fatimah Bojonegoro

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Abstract

This study aims to explore the role of Shariah governance in minimizing financing risk in Islamic banking by focusing on the functions of the Shariah Supervisory Board (SSB) and Internal Shariah Review (ISR). The research synthesizes findings from two scholarly articles using a conceptual and qualitative analytical approach. The first article adopts a systematic literature review to identify key indicators in Shariah governance that influence credit risk, such as the qualifications of SSB members and the effectiveness of ISR. The second article utilizes Erving Goffman’s frame analysis to understand how interactions between bank managers and SSB members may impact Shariah compliance in practice. The analysis reveals that a well-functioning SSB and ISR significantly contribute to reducing financing risk by ensuring that banking operations align with Shariah principles. Furthermore, managerial strategies, such as impression management, may influence the decisions of Shariah boards, raising concerns about the consistency and integrity of compliance mechanisms. These findings highlight the dual importance of institutional competency and ethical governance in mitigating risk and maintaining public trust in Islamic financial institutions. In conclusion, the study emphasizes the need for capacity building in Shariah governance structures, particularly in enhancing the qualifications and independence of SSB members and strengthening internal Shariah review functions. Future research is encouraged to further examine the effectiveness of ISR across various financial products and jurisdictions, and to explore how governance practices affect credit ratings in Islamic banking

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