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Journal of Sharia Business Management
  • jurnalmanajemenbisnissyariah
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Published by CV. Barokah Publisher
ISSN : -     EISSN : 29632218     DOI : -
Core Subject : Economy, Education, Social,
Economics, Econometrics & Finance Social Sciences Other
(INTERNATIONAL, Journal of Sharia Business Management) is dedicated to the development of scientific treasures in the field of Islamic economics and finance. Researchers and academics are given space to contribute to various studies published through this journal. The scope of the study of the (INTERNATIONAL, Journal of Sharia Business Management) is related to the themes of Islamic economics, Islamic banking, Islamic accounting, sharia management, sharia business, ZISWAF, halal industry, and other studies that correlate with the theme of this journal and have interesting discussion value. Each published article is the sole responsibility of the Author, but the Editor can edit without changing the substance of the article.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Bisnis, Menejemen, dan Akutansi (Lain-Lain)
Articles 30 Documents
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Search results for , issue "Vol 4 No 5 (2025)" : 30 Documents clear
PERAN FINTECH DALAM MENINGKATKAN INKLUSI PASAR MODAL SYARIAH DI INDONESIA Nia Safira Ramadhanty Pane; Reni Ria Armayani Hasibbuan; Asryatun Nisa BR Ginting; Ezika Aquilera Sitio
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
Publisher : CV. Barokah Publsiher

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Abstract

The development of financial technology (fintech) has brought significant changes to the financial system, including the Islamic capital market sector in Indonesia. The capital market plays a crucial role as a means of fund mobilization and allocation for society while supporting sustainable economic growth. However, the level of inclusion in the Islamic capital market still faces various challenges, such as limited access, low financial literacy, and complex investment procedures. This study aims to analyze the role of fintech in enhancing the inclusion of the Islamic capital market in Indonesia. The research method employed is a literature review by examining scholarly journals, books, official reports, and regulations related to fintech, financial inclusion, and the Islamic capital market. The findings indicate that fintech plays an important role in expanding public access to Islamic investment through transaction convenience, reduced initial capital barriers, and improved efficiency and transparency. Furthermore, fintech encourages greater participation of retail investors while maintaining compliance with Sharia principles as stipulated in relevant fatwas and regulations. Therefore, fintech has significant potential to support the enhancement of Islamic capital market inclusion in Indonesia, particularly when accompanied by improved Islamic financial literacy and strengthened regulatory frameworks..
ANALISIS EKONOMI POLITIK KRISIS ENERGI GLOBAL TERHADAP KEBIJAKAN SUBSIDI ENERGI DI INDONESIA Rizky Amelia Siregar; Hanifa Ayu S; Ahmad Zaki Sinulingga; Reni Ria Armayani Hasibuan
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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The ongoing global energy crisis from 2022 to 2025 has significantly affected the economic and political stability of developing countries, including Indonesia. The fluctuation of oil, natural gas, and coal prices due to geopolitical conflicts and global energy transition has placed strong pressure on Indonesia’s national energy subsidy policy. This study aims to analyze how the global energy crisis influences Indonesia’s energy subsidy policy through a political economy perspective. A qualitative descriptive approach was applied using document and policy discourse analysis, drawing on sources such as Indonesia’s 2025 State Budget Financial Note, reports from the International Energy Agency (IEA), the World Bank, and various government statements. The findings reveal that Indonesia’s energy subsidy policy is not merely economically driven but is also shaped by complex political considerations aimed at maintaining social stability and regime legitimacy. The government utilizes energy subsidies as a political instrument to preserve public trust amid fiscal pressures resulting from global energy price volatility. This study contributes theoretically by strengthening the understanding of energy subsidies as a politicaleconomic instrument, and practically by providing policy recommendations for a more transparent, gradual, and sustainable energy subsidy reform aligned with Indonesia’s energy transition goals.
IMPLEMENTASI ANGGARAN MODAL DALAM PENGAMBILAN KEPUTUSAN INVESTASI UMKM BERBASIS SYARIAH: TINJAUAN LITERATUR Nurhani Syasalbilah; Anggi Maydistra Sukma; Sabhi Febrian; Dini Vientiany
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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Abstract

Usaha Mikro, Kecil, dan Menengah (UMKM) memiliki peran strategis dalam perekonomian Indonesia, khususnya dalam menciptakan lapangan kerja dan mendorong pemerataan pendapatan. Namun demikian, UMKM masih menghadapi berbagai permasalahan dalam pengelolaan keuangan, terutama terkait pengambilan keputusan investasi jangka panjang yang terencana dan rasional. Salah satu instrumen manajemen keuangan yang penting dalam mendukung keputusan investasi adalah anggaran modal (capital budgeting). Penelitian ini bertujuan untuk mengkaji dan menganalisis implementasi anggaran modal dalam pengambilan keputusan investasi pada UMKM berbasis syariah melalui pendekatan tinjauan literatur. Metode penelitian yang digunakan adalah Systematic Literature Review (SLR) dengan penyajian naratif terhadap artikel jurnal nasional terakreditasi yang diterbitkan dalam lima tahun terakhir. Hasil kajian menunjukkan bahwa meskipun anggaran modal secara konseptual dipahami sebagai alat yang penting, penerapannya pada UMKM berbasis syariah masih tergolong rendah. Faktor utama yang menjadi penghambat meliputi rendahnya literasi keuangan, keterbatasan sumber daya manusia, minimnya pencatatan keuangan, serta kurangnya pemahaman terhadap prinsip keuangan syariah. Selain itu, penerapan anggaran modal pada UMKM berbasis syariah memerlukan penyesuaian agar selaras dengan prinsip-prinsip syariah, terutama terkait penggunaan tingkat diskonto dan sumber pembiayaan. Penelitian ini diharapkan dapat memberikan kontribusi teoretis dalam pengembangan kajian manajemen keuangan syariah serta menjadi referensi praktis bagi pelaku UMKM berbasis syariah dalam meningkatkan kualitas pengambilan keputusan investasi.
ANALISIS KEBIJAKAN PEMERINTAH DALAM MENDORONG EKONOMI DESA DI INDONESIA Andini Fadhila Hasibuan; Fahmil Fadillah; Rizkiyawan Wijaya; Reni Ria Armayani Hasibuan
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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This study aims to analyze the effectiveness of government policies in encouraging the development of the village economy in Indonesia, with a focus on the Village Fund (Dana Desa) program and its supporting policies from 2015 to 2024. Using a qualitative approach combined with secondary data analysis and policy evaluation frameworks, this research examines the extent to which fiscal decentralization, infrastructure development, village-owned enterprises (BUMDes), and human resource capacity-building programs have contributed to economic growth, poverty reduction, and inequality decline at the village level. The findings reveal that although the Village Fund has significantly increased physical infrastructure and village economic activity, its impact on inclusive and sustainable economic growth remains limited due to uneven implementation capacity, lack of innovation in BUMDes management, and weak monitoring and evaluation systems. This study recommends policy reforms that emphasize economic empowerment based on local potential, digitalization of village governance, and stronger synergy between central and regional governments to achieve a more equitable and sustainable village economy.
PENGARUH HARGA DAN MINAT BELI TERHADAP LOYALITAS PELANGGAN MIEREN KAHVE Teuku Fahmi Aulia; Awaludin; Oki Prayogi
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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Abstract

Customer loyalty is a key to the success of a company, not only in the short term but will also become a sustainable competitive advantage. Customers can be considered loyal if they are not easily influenced or switch to other companies or products. Customer loyalty can be created by various factors, namely price and purchase intention. A product will be accepted by consumers and survive in market competition if the product has provided satisfaction to consumers. This research aims to determine 1) the effect of price on customer loyalty at Mieren Kahve. 2) the effect of purchase intention on customer loyalty at Mieren Kahve. The type of research used is quantitative research with a sample of 96 respondents. The results obtained from this study are that price has a positive and significant relationship with customer loyalty and purchase intention has a positive and significant relationship with customer loyalty. The price variable is the variable that has a greater influence than the other variables. From this research, the researcher gives a suggestion that in the future Mieren Kahve is expected to maintain the consistency that has been built for many years.
TIME VALUE OF MONEY SEBAGAI DASAR PENGAMBILAN KEPUTUSAN INVESTASI MODERN: Analisis Literatur Pada Real Aset, Pasar Uang, Dan Securities Crowdfunding Putri Hayati; Sabrina Faraditha; Putri Anggraini; Pebriansyah Siregar; Rahman Saleh Nasution; Danu Wijaya; Muhammad Ikhsan Harahap
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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Abstract

This study aims to analyze the application of the Time Value of Money (TVM) concept across three major investment categories—money market instruments, real assets, and securities crowdfunding—by emphasizing how the principle of time-based value shapes the evaluation of risk, feasibility, and the real value of investment returns. Using data on policy interest rates, inflation levels, residential property price growth, rental yields, money market mutual fund performance, and the return–default ratio within the crowdfunding industry, this study demonstrates that TVM plays a crucial role in determining whether an investment can generate positive real value for investors. In the money market, TVM helps assess whether relatively low returns can withstand inflationary pressures and high benchmark interest rates; in real assets, it measures the long-term viability of rental income and capital gains amid moderate property price growth; and in crowdfunding, it becomes essential for evaluating uncertain cash flows and higher risks despite attractive nominal returns. The findings affirm that TVM is not merely a theoretical concept but a practical foundation necessary for making objective, rational, and measurable investment decisions within the dynamics of the modern economy.
PENYUSUNAN ANGGARAN KOMPREHENSIF SEBAGAI ALAT PERENCANAAN DAN PENGENDALIAN LABA PADA COFFEE SHOP BK23SPACE Nyak Angeli Ajianing; Khairunnisa Khalida; Abdillah Fuad; Dini Vientiany
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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This study aims to analyze the preparation of a comprehensive budget as a tool for profit planning and profit control at BK23Space Coffee Shop. The comprehensive budget is designed to provide an overall picture of business activities, including sales planning, production, raw material usage, labor costs, cash flow management, and profit projections. This research employs a quantitative descriptive method using sales and operational cost data obtained through observation and documentation. The results show that BK23Space sets a sales target of 1,200 cups per month at a selling price of IDR 20,000 per cup, generating monthly revenue of IDR 24,000,000 or IDR 72,000,000 per quarter. Based on the prepared production and cost budgets, the business is able to generate a net profit of IDR 8,000,000 per quarter with a net profit margin of 11.1% and has exceeded its Break Even Point (BEP). However, the cash budget analysis indicates a monthly cash deficit of IDR 5,000,000, highlighting the need for better cost control and more effective cash management. Overall, the comprehensive budget plays an important role in supporting management decisions, evaluating financial performance, and identifying potential risks and improvement opportunities to ensure business sustainability.
MINAT GENERASI Z DALAM BERWAKAF UANG MELALUI PEMANFAATAN TEKNOLOGI DIGITAL PADA PLATFORM KEUANGAN Dini zahratun husna; Faris Affandi; Muhammad Arfan Harahap
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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Abstract

Cash waqf is an Islamic philanthropic instrument with significant potential to support economic and social development. However, the level of participation of Generation Z in cash waqf remains relatively low despite their large population and digital-native characteristics. This study aims to analyze the factors influencing Generation Z’s interest in cash waqf. The research employs a quantitative approach using questionnaire-based data collected from Generation Z respondents. The variables examined include cash waqf literacy, religiosity, trust in waqf management institutions, utilization of digital technology, and ease of access to information. The data were analyzed using multiple linear regression to determine the effect of each variable on interest in cash waqf. The findings indicate that cash waqf literacy, institutional trust, and the use of digital technology have a significant positive effect on Generation Z’s interest in participating in cash waqf. Meanwhile, religiosity and access to information show a weaker influence. This study is expected to serve as a reference for waqf institutions in developing strategies to enhance cash waqf participation by aligning programs with the characteristics and preferences of Generation Z.
PENGEMBANGAN SISTEM PENGANGGARAN YANG EFEKTIF UNTUK MENINGKATKAN PROFITABILITAS PERUSAHAAN Feby Salsabila Dasril; Muhammad Abdillah Pratama Aminullah; Risa Adelila Hasibuan; Dini Vientiany
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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In the face of increasingly fierce business competition and uncertainty in the global economy, companies need to have an efficient budgeting system to support the achievement of maximum profits. The budgeting system functions not only as a tool for financial planning, but also as a means of controlling and assessing company performance. This study aims to explore the characteristics of an effective budgeting system, the factors that influence budgeting success, and the role of management accounting practices in improving operational efficiency and company profits. The research technique applied is a qualitative approach through systematic literature analysis of various academic journals, reference books, and relevant documents, supported by structured interviews with key informants in the fields of finance and management. The findings reveal that a participatory, adaptive budgeting system based on accurate data and supported by information technology and good management control has a positive impact on operational efficiency, cost control, and increased company profits. Therefore, the development of an integrated and responsive budgeting system is an important factor in increasing company profitability and survival.
ANALISIS PENYUSUNAN ANGGARAN KOMPREHENSIF PADA USAHA JASA LAUNDRY KILOAN : STUDI KASUS PADA KING CLEAN LAUNDROMAT Aisyah, Nur; Siregar , Yulianti; Tafrijah , Murni; Vientiany, Dini
INTERNATIONAL, Journal of Sharia Business Management Vol 4 No 5 (2025)
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The preparation of a comprehensive budget is an important aspect of financial management in service businesses, including kilogram-based laundry services. A comprehensive budget functions as a tool for planning, controlling, and managerial decision-making to ensure that operational activities run effectively and efficiently. This study aims to analyze the process of preparing a comprehensive budget in a kilogram-based laundry service business through a case study of KING CLEAN LAUNDROMAT. The research uses a qualitative approach with data collection techniques consisting of interviews, observations, and documentation. The results show that KING CLEAN LAUNDROMAT has prepared several budget components, such as revenue budgets and operational cost budgets; however, the comprehensive budgeting process has not yet been conducted in a systematic and integrated manner. Limited managerial knowledge and the absence of written financial planning are identified as the main obstacles in preparing a comprehensive budget. This study is expected to provide insights and recommendations for laundry service business owners in developing a more structured comprehensive budgeting system to improve business performance and sustainability.

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