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The Effect of Non-Performing Financing and Financing to Deposit Ratio on Return on Assets at BJB Syariah (2019-2024) Wahyudin, Dafiq; Azizah, Wuri
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.8352

Purpose – This study aims to analyze the effect of Non-Performing Financing (NPF) and Financing to Deposit Ratio (FDR) on Return on Assets (ROA) at BJB Syariah for the period 2019-2024. Previous research has yielded inconsistent results, necessitating further investigation in regional Islamic banking contexts to understand the effectiveness of financing better. Design/Methods/Approach – The study utilizes secondary data from quarterly financial reports, which are analyzed using multiple linear regression with EViews 13. Classical assumption tests, including normality, autocorrelation, heteroscedasticity, and multicollinearity, were conducted to ensure model validity. Findings – NPF has a negative but insignificant effect on ROA (coefficient = -0.149986; p-value = 0.1713), meaning changes in Non-Performing Financing do not significant impact on profitability. Conversely, FDR has a negative and significant effect on ROA (coefficient = -0.039732; p-value = 0.0008), indicating that increased third-party fund distribution has not been fully effective in enhancing bank profit. Simultaneously, NPF and FDR have a significantly affect ROA with an R-squared of 0.48, explaining 48% of ROA variation. Research Implications/Limitations – The study’s limitation lies in the R-squared value, indicating that 52% of ROA variation is influenced by external factors such as BOPO, CAR, NIM, and Macroeconomic conditions. The limited period (2019-2024) and focus on one Islamic bank require caution in generalizing results. Originality/Value – This study provides empirical contributions regarding the effectiveness of financing and risk management in regional Islamic banks, highlighting the importance of the quality of fund distribution rather than quantity in improving profitability.

The Relevance of Modern Management in Sharia Economics: A Value and Professionalism Approach Khairan; Nurfitriani, Ika
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.9027

Purpose/Objectives – The objectives of this article are to analyze the relevance of modern management principles from a Sharia economics perspective, identify similarities and possible differences between the orientation of efficiency in modern management and Islamic values, and formulate a conceptual framework that combines modern management, Islamic values, and professionalism in a complementary model. Method – This study employs a qualitative research approach, utilizing a library-based research method, with data sources comprising modern management literature, Islamic economics, scientific journal articles, and normative Islamic sources. Data analysis was conducted descriptively, analytically, conceptually, and comparatively to identify the compatibility between modern management principles and Islamic economic values. Findings – The study's results indicate that modern management principles align closely with Sharia values, including tauhid, amanah, justice, ihsan, and maslahah, when applied within the framework of Islamic ethics. Professionalism, which encompasses itqan, competence, amanah, and responsibility, serves as the integrative meeting point between modern management and Sharia economics. Limitations – The use of a qualitative approach, based on library research, which is conceptual and normative in nature, means that empirical field data do not support the study's results. This study did not directly observe the practice of modern management in specific Islamic economic institutions, so it was unable to describe the dynamics of implementation, operational challenges, and variations in institutional contexts in a factual manner. In addition, the data sources used were limited to literature, scientific journals, and normative Islamic sources, which could potentially lead to limitations in perspective due to differences in conceptual interpretation among authors. Originality/Value – This article emphasizes that modern management is not a concept that conflicts with Islamic economics, but rather a strategic instrument for realizing professional, ethical, and welfare-oriented management of Islamic economic institutions.

Effectiveness of Green Sukuk in Indonesia: Emission Measurement, Sharia Law, and Transparency Amal Zainun Naim; Yustafad; Muhammad Fathur Reza
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.8173

Purpose – This study critically evaluates the effectiveness of Indonesia's Green Sukuk as a sustainable financing instrument by integrating the perspectives of maqāṣid al-sharīah, regulatory governance, and global transparency standards. It addresses the gap between normative claims and implementation, particularly in terms of impact measurement and the risks of greenwashing. Design/Methods/Approach – A qualitative-normative approach, incorporating documentary analysis, is employed. Primary documents include national regulations, Green Sukuk reports, and Sharia fatwas. Data were analyzed thematically using NVivo to map the interconnections between Sharia objectives, sustainability governance, and reporting frameworks. Findings – Green Sukuk demonstrates strong potential for mobilizing ethical capital. However, its effectiveness is constrained by non-standardized environmental impact measurement, partial regulatory harmonization, and weak independent verification. While global standards (e.g., IFRS Sustainability Disclosure Standards) are conceptually aligned with maqāṣid al-sharīah, their operationalization requires stronger Sharia governance oversight and enforcement mechanisms to ensure substantive, not just symbolic, sustainability outcomes. Research Implications/Limitations – The study provides a critical integrative framework for policymakers and scholars. Its reliance on documentary data is a limitation, calling for future empirical validation at the project level. Originality/Value – This paper offers a novel integrative framework that bridges Islamic finance ethics (maqāṣid al-sharīah) with global sustainability governance, contributing to both academic discourse and practical policy design for credible Sharia-compliant green finance.

Socio-economic Effects of Introducing Halal Digital Currencies in Muslim Countries Zyl Aliaksandr
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.8351

Purpose – This study aims to analyze the socio-economic effects of implementing halal digital currencies in Muslim countries and to determine their role in shaping a fair and inclusive Islamic economy. Design/Methods/Approach – The research employs methods of theoretical analysis, comparison, and interpretation. It draws on contemporary studies that examine Islamic cryptocurrencies, central bank digital currencies (CBDCs), fintech innovations, and Shariah-compliant models. The analysis focuses on identifying both direct and indirect socio-economic effects, which are structured across macroeconomic, social, institutional, and cultural-ethical dimensions. Findings – The main findings indicate that the introduction of halal digital currencies can contribute to GDP growth, increased investment activity, and financial inclusion, as well as to the reduction of social inequality, the enhancement of trust in financial institutions, and the strengthening of institutional transparency. From the perspective of Islamic economics, halal digital currencies adhere to Shariah principles by excluding elements of riba (usury), gharar (uncertainty), and maysir (gambling), thereby promoting fair, productive, and socially oriented forms of financial interaction. Research Implications/Limitations – This paper provides a systematization of the assessed effects of halal digital currencies, taking into account economic, social, and ethical parameters, which allows for their consideration as a strategic development tool for Islamic finance. The results can be applied in the formulation of national strategies for the digital Islamic economy, the implementation of halal CBDCs, and the development of an Islamic financial inclusion framework. The research is theoretical and review-based; it does not include empirical verification of long-term effects. Future studies could involve quantitative assessments and comparative analyses of halal digital currency applications across different Islamic countries to more accurately evaluate the identified patterns. Originality/Value – The study reveals that halal digital currencies form a new paradigm for the economic and financial development of Muslim countries, in which technological innovation is integrated with spiritual principles and social responsibility.

The Effect of Non-Performing Financing and Financing to Deposit Ratio on Return on Assets at BJB Syariah (2019-2024) Dafiq Wahyudin; Wuri Azizah
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.8352

Purpose – This study aims to analyze the effect of Non-Performing Financing (NPF) and Financing to Deposit Ratio (FDR) on Return on Assets (ROA) at BJB Syariah for the period 2019-2024. Previous research has yielded inconsistent results, necessitating further investigation in regional Islamic banking contexts to understand the effectiveness of financing better. Design/Methods/Approach – The study utilizes secondary data from quarterly financial reports, which are analyzed using multiple linear regression with EViews 13. Classical assumption tests, including normality, autocorrelation, heteroscedasticity, and multicollinearity, were conducted to ensure model validity. Findings – NPF has a negative but insignificant effect on ROA (coefficient = -0.149986; p-value = 0.1713), meaning changes in Non-Performing Financing do not significant impact on profitability. Conversely, FDR has a negative and significant effect on ROA (coefficient = -0.039732; p-value = 0.0008), indicating that increased third-party fund distribution has not been fully effective in enhancing bank profit. Simultaneously, NPF and FDR have a significantly affect ROA with an R-squared of 0.48, explaining 48% of ROA variation. Research Implications/Limitations – The study’s limitation lies in the R-squared value, indicating that 52% of ROA variation is influenced by external factors such as BOPO, CAR, NIM, and Macroeconomic conditions. The limited period (2019-2024) and focus on one Islamic bank require caution in generalizing results. Originality/Value – This study provides empirical contributions regarding the effectiveness of financing and risk management in regional Islamic banks, highlighting the importance of the quality of fund distribution rather than quantity in improving profitability.

The Influence of Brand Equity and Halal Labels on Purchase Intention from an Islamic Marketing Perspective Putri Intan Purnama; Afif Zaerofi
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.8757

Purpose – This study aims to analyze the effect of brand equity and halal labels on purchase intention toward Wardah cosmetics from an Islamic marketing perspective in the Bogor region. It builds on previous studies that show inconsistent results regarding the role of halal attributes in consumer purchase behavior. By incorporating halal awareness as a moderating variable and applying the SEM-PLS method, this study seeks to clarify these relationships in a local halal cosmetics market. The findings indicate that brand equity and brand image positively influence purchase intention, while halal awareness does not moderate these effects. Design/Methods/Approach – This study employed a quantitative approach using a survey method to collect data from consumers who have purchased Wardah cosmetics in the Bogor region. Data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) to examine the relationships between brand equity, brand image, halal awareness, and purchase intention. Findings – The results show that brand equity and brand image have a positive and significant effect on purchase intention. However, halal awareness does not moderate the relationship between brand equity and purchase intention, nor between brand image and purchase intention. These findings indicate that branding factors play a more dominant role than halal awareness in influencing consumers’ purchase intention toward Wardah cosmetics in the Bogor region. Research Implications/Limitations – This study is limited by its focus on a single halal cosmetic brand (Wardah) and a specific geographic area (Bogor), which may restrict the generalizability of the findings to other brands or regions. The use of a cross-sectional survey and self-reported data may also limit the ability to capture changes in consumer behavior over time. Nevertheless, the findings provide practical implications for halal cosmetic marketers by highlighting the greater importance of brand equity and brand image compared to halal awareness in shaping purchase intention within a local Muslim market. Originality/Value – This study adds value to Islamic marketing literature by providing empirical evidence on the relative influence of branding factors and halal awareness on purchase intention in a local halal cosmetics market. By incorporating halal awareness as a moderating variable and focusing on Wardah consumers in Bogor, this research offers a contextual contribution that complements prior studies with mixed findings. Future research may extend this model to different brands, regions, or longitudinal designs to enhance generalizability.

Edlink as Paperless Service: Strategic to Minimizing Paper Consumption in College Based on Eco-theology Perspective Ilyas Adhi Purba; Muhammad Irsyad Elfin Mujtaba
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.8941

Purpose/Objective – This research aims to examine the use of Edlink as a paperless digital service in an effort to minimize paper consumption on campus, from an eco-theological perspective. Method – This research employs descriptive qualitative methods, collecting data through observation and a literature study. Findings – Edlink saves paper consumption, one of which is through implementing UTS and UAS alone, the campus saves expenses of around 2036 sheets of paper, or 4 reams, or saves costs of around Rp. 160,000 - Rp. 240,000. However, the campus must pay Rp. 11 million for using Edlink by Sevima. Edlink can save thousands of sheets of paper, but it still requires costs for using the application. Using Edlink from an eco-theology perspective in paperless form is a form of preserving green trees on Earth. In this context, efforts to reduce paper use not only have an impact on administrative efficiency but are also part of a commitment to preserving the environment, especially the sustainability of trees as the main source of raw material for paper. Limitations – This research only focuses on the use of Edlink as a paperless service in the IAI Badrus Sholeh Kediri campus environment, so the research results cannot be widely generalized to all universities that have different characteristics, policies, and levels of digital literacy. Originality/Value – The originality of this research lies in the integration of educational digital technology (Edlink) with an ecotheological perspective as an ethical and theological basis in an effort to minimize paper consumption on campus.

Exploring Internal Market Potential for Business Unit Development: Evidence from UIN Sayyid Ali Rahmatullah Tulungagung Syamsul Umam
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.9021

Purpose – The purpose of this paper is to describe and explore the results of a market potential survey by mapping respondent profiles to initiate the development of a campus business unit that focuses on providing daily goods and services for the academic community of UIN SATU. Design/Methods/Approach – This study employed a quantitative approach using a survey method. A questionnaire survey was administered to the academic community of UIN SATU. The questionnaire comprised several groups of questions aimed at exploring the respondents' demographic and their consumption behavior related to campus-based goods and services. Findings – The findings reveal a structurally consistent and necessity-driven consumption pattern across the academic community. Essential categories, particularly Food & Beverages, Health-related products, and Academic Supplies, consistently record the highest index values. Although segment-based variations in magnitude are observed, especially among Premium respondents, the overall ranking structure remains stable across gender, faculty, and engagement groups. Research Implications/Limitations – This study provides an empirical foundation for data-driven campus business planning by demonstrating the usefulness of descriptive index analysis in profiling institutional consumption patterns. However, the analysis relies on descriptive analysis only. Future studies should employ probabilistic designs and explanatory models to deepen strategic insights. Originality/Value – This study offers an integrated index-based profiling of campus consumption behavior by linking demographic, faculty, and engagement segments to BLU-oriented business development strategy in higher education institutions.

The Relevance of Modern Management in Sharia Economics: A Value and Professionalism Approach Khairan; Ika Nurfitriani
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.9027

Purpose/Objectives – The objectives of this article are to analyze the relevance of modern management principles from a Sharia economics perspective, identify similarities and possible differences between the orientation of efficiency in modern management and Islamic values, and formulate a conceptual framework that combines modern management, Islamic values, and professionalism in a complementary model. Method – This study employs a qualitative research approach, utilizing a library-based research method, with data sources comprising modern management literature, Islamic economics, scientific journal articles, and normative Islamic sources. Data analysis was conducted descriptively, analytically, conceptually, and comparatively to identify the compatibility between modern management principles and Islamic economic values. Findings – The study's results indicate that modern management principles align closely with Sharia values, including tauhid, amanah, justice, ihsan, and maslahah, when applied within the framework of Islamic ethics. Professionalism, which encompasses itqan, competence, amanah, and responsibility, serves as the integrative meeting point between modern management and Sharia economics. Limitations – The use of a qualitative approach, based on library research, which is conceptual and normative in nature, means that empirical field data do not support the study's results. This study did not directly observe the practice of modern management in specific Islamic economic institutions, so it was unable to describe the dynamics of implementation, operational challenges, and variations in institutional contexts in a factual manner. In addition, the data sources used were limited to literature, scientific journals, and normative Islamic sources, which could potentially lead to limitations in perspective due to differences in conceptual interpretation among authors. Originality/Value – This article emphasizes that modern management is not a concept that conflicts with Islamic economics, but rather a strategic instrument for realizing professional, ethical, and welfare-oriented management of Islamic economic institutions.

From Worldview to Institution: Ungku Aziz and the Moral Foundations of Malaysia’s Development Trajectory Muhammad Suhaimi; Fuadah Johari; Nuur Halimatus Sa'adiah Masrukhin; Zul Aizat Hamdan; Zulfi Akmal
Jurnal At-Tamwil: Kajian Ekonomi Syariah Vol. 8 No. 1 (2026): Jurnal At-Tamwil Maret 2026
Publisher : Universitas Islam Tribakti Lirboyo Kediri

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.33367/at-tamwil.v8i1.9111

Purpose – This study examines why the moral worldview of Ungku Aziz remains important for understanding Malaysia’s development trajectory. Existing scholarship has often interpreted Malaysian development through technocratic, macroeconomic, or administrative lenses, while giving less attention to the ethical ideas that informed institutional design. Building upon earlier studies on Ungku Aziz as an economist and public intellectual, this article argues that his key contribution was the translation of justice-oriented values into practical development institutions. The study, therefore, reinterprets him as an architect of morally grounded development rather than merely a policy technocrat. Design/Methods/Approach – The study employs a qualitative research design, utilizing textual and thematic analysis. Primary materials comprise selected writings, speeches, policy commentaries, and public interventions by Ungku Aziz across various periods. These are supplemented by secondary literature on Malaysian development, poverty studies, Islamic moral economy, and institutional theory. The materials were coded thematically to identify recurring concepts such as distributive justice, dignity, education, rural upliftment, and public responsibility, before tracing their institutional manifestations in the Malaysian context. Findings – The study finds that Ungku Aziz consistently framed development as a human-centred and ethical process rather than a narrow exercise in income expansion. His thought linked poverty reduction with structural reform, educational mobility with national advancement, and state capacity with distributive fairness. The findings indicate that values such as justice, dignity, and social responsibility were reflected in policy orientations relating to poverty alleviation, rural advancement, and institutional nation-building. This supports the argument that Malaysia’s development experience cannot be understood solely through economic management, but also through normative foundations that shaped policy priorities. Research Implications/Limitations – The study is based primarily on documentary interpretation rather than direct causal measurement of policy outcomes. As such, the findings are strongest in explaining the relationship between ideas, institutional orientation, and development discourse rather than quantifying policy effectiveness. The qualitative design also limits broader generalisation beyond the Malaysian case. Future research may employ comparative or mixed-method approaches to test how ethical worldviews influence measurable development outcomes across other national settings. Originality/Value – This article contributes to scholarship by repositioning Ungku Aziz as a thinker of moral institutionalism whose ideas bridged ethics and governance. It adds to debates in Islamic moral economy, development theory, and Malaysian political economy by showing how value-based worldviews can be translated into modern state institutions within a plural society. The study also offers a conceptual basis for future research on inclusive and human-centred development in contemporary Asia.

Home Page

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Contact

Reviewer

Google Scholar

Contact Name
Sutantri

Contact Email
tantri@uit-lirboyo.ac.id

Phone
+62857-8480-6694

Journal Mail Official
jurnal.attamwil@gmail.com

Editorial Address
Prodi Perbankan Syariah Universitas Islam Tribakti Lirboyo Kediri Jl. KH. Wahid Hasyim 62 Kediri Telp. (0354) 772879

Location
Kab. kediri,

Jawa timur

INDONESIA

Abstract

Abstract

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Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Home Page

OAI Link

Editorial Team

Contact

Reviewer

Google Scholar

Contact Name Sutantri

Contact Email tantri@uit-lirboyo.ac.id

Phone +62857-8480-6694

Journal Mail Official jurnal.attamwil@gmail.com

Editorial Address Prodi Perbankan Syariah Universitas Islam Tribakti Lirboyo Kediri Jl. KH. Wahid Hasyim 62 Kediri Telp. (0354) 772879

Location Kab. kediri, Jawa timur INDONESIA

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Abstract

Contact Name
Sutantri

Contact Email
tantri@uit-lirboyo.ac.id

Phone
+62857-8480-6694

Journal Mail Official
jurnal.attamwil@gmail.com

Editorial Address
Prodi Perbankan Syariah Universitas Islam Tribakti Lirboyo Kediri Jl. KH. Wahid Hasyim 62 Kediri Telp. (0354) 772879

Location
Kab. kediri,

Jawa timur

INDONESIA