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Frank Aligarh
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UIN Raden Mas Said Surakarta, Central Java, Indonesia, Jl. Pandawa, Dusun IV, Pucangan, Kartasura, Sukoharjo, Central Java Province, Postal Code 57168.
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JIFA (Journal of Islamic Finance and Accounting)
Published by Universitas Islam Negeri Raden Mas Said Surakarta
ISSN : 26151774     EISSN : 26151782     DOI : https://doi.org/10.22515/jifa
Core Subject : Economy,
Economics, Econometrics & Finance
JIFA (Journal of Islamic Finance and Accounting) openly welcomes scholars, academicians, researchers, policyholders, lecturers, and practitioners to submit their high-quality research articles that correspond to the focus and scopes. This journal concerns on two primary areas, Islamic Finance and Accounting. The topic of Islamic finance limits its discussion on financial matters such as sharia capital market, sharia banking, financial technology, Islamic philanthropy (Zakat, Waqf, Sadaqah, etc.) and behavioral finance. The theme of accounting directs the discourses about development of accounting concepts, Islamic accounting, behavioural accounting, auditing, taxation, accounting information system, and public sector accounting. Papers on accounting issues relating to developing in other fields such as finance, small-medium enterprises, and government operations are also welcome. By promoting the current issues of these areas, JIFA represents an excellent forum for highlighting the profile of Islamic finance and accounting research on both national and international levels.
Arjuna Subject : Bisnis, Menejemen, dan Akutansi (semua kategori) - Akuntansi
Articles 87 Documents
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Strengthening governance in higher education: The role of internal audit as the third line of defense Rumiyati, Rumiyati; Nusa, Nabella Duta
JIFA (Journal of Islamic Finance and Accounting) Vol. 7 No. 1 (2024)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v7i1.8055

Abstract

This study examines the internal audit functions at four universities, both public and private, in the Special Region of Yogyakarta, Indonesia, with a focus on their contribution to governance and their role as the organization's third line of defense, as recommended by The Institute of Internal Auditors. Employing a qualitative research approach, the study utilizes descriptive data analysis to assess the effectiveness of internal audits in these institutions. The findings reveal that while the internal audit functions in both state and private universities receive adequate organizational support, they face resource constraints, particularly in state universities that are not yet legally incorporated and private universities with newly established audit functions. The study also highlights the diversity of audit activities, including review and consultation, with more established internal audit units demonstrating greater variety and depth in their assignments. Moreover, the internal audit function emerges as a strategic partner in risk management, effectively serving as the third line of defense through regular coordination and communication with university management. This research underscores the critical role of internal audits in enhancing governance and managing risks within the higher education sector.
Risk culture evaluation: A case study of Islamic Bank XYZ Meloza, Kausar; Chaerul Djusman Djakman
JIFA (Journal of Islamic Finance and Accounting) Vol. 6 No. 2 (2023)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v6i2.8324

Abstract

In response to the 2007–2009 financial crisis and various instances of risk management failures impacting financial institutions, regulators and companies have become increasingly aware of the critical role that risk culture plays in enhancing the effectiveness of risk management within financial organizations. Recently, Bank XYZ has experienced a significant rise in losses due to operational incidents closely linked to aspects of its risk culture. This study utilizes the Financial Stability Board’s (FSB) Sound Risk Culture Indicators framework to assess the strength of the risk culture at Bank XYZ. Data was collected through questionnaires completed by 44 respondents, interviews with two senior leaders, and a review of relevant documents. The findings reveal that, overall, Bank XYZ demonstrates strong risk culture indicators, though there are areas for improvement, including: the articulation of leadership’s risk culture aspirations, the establishment of clear reporting channels for products and practices, the processing of significant past incidents as lessons learned, the systematic evaluation of risk culture aspects, and the strengthening of the control function's roles and authority in business decision-making. This study provides valuable insights into the resilience of an Islamic bank’s risk culture in Indonesia, using the FSB’s Sound Risk Culture Indicators.
Determinants of wadiah bonus in sharia banks: Evidence from Indonesia Sitorus, Eva Afrilisa; Santri Yanti, Nur; Inayah, Nurul
JIFA (Journal of Islamic Finance and Accounting) Vol. 6 No. 2 (2023)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v6i2.9195

Abstract

Research on wadiah bonuses within the context of Sharia banks remains an engaging issue in Islamic countries. This research aims to examine the impact of wadiah savings deposits, profit-sharing income, murabahah income, and Ijarah rental income on the distribution of wadiah bonuses to customers in Sharia banks. Employing a quantitative approach, this study utilizes secondary data from the monthly financial reports of PT Bank Syariah Indonesia covering the period from 2020 to 2023. The analysis is conducted using multiple linear regression. The findings reveal that wadiah savings funds do not significantly affect wadiah bonuses, indicating that changes in wadiah savings amounts do not impact the distribution of these bonuses. Profit-sharing income, however, has a significant effect on wadiah bonuses, suggesting that fluctuations in Wadiah bonuses are influenced by profit-sharing income. In contrast, Murabahah income does not significantly affect wadiah bonuses, indicating that changes in Murabahah income do not impact the distribution of these bonuses. On the other hand, Ijarah income has a significant effect on wadiah bonuses, demonstrating that variations in Ijarah income influence the distribution of wadiah bonuses.
Unveiling the influence of board dynamics and transparency on capital structure in the banking sector Lestari, Devi; Rahmawati, Aryani Intan Endah
JIFA (Journal of Islamic Finance and Accounting) Vol. 7 No. 1 (2024)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v7i1.9218

Abstract

Capital structure volatility in banking companies often stems from financial fraud, eroding public trust and leading to customer fund withdrawals. This study investigates the effects of board size, performance transparency, profitability, and company size on the capital structure of banking firms listed on the Indonesia Stock Exchange (IDX) from 2018 to 2022. Using purposive sampling, 181 data points were analyzed through multiple linear regression with EViews 10. The results reveal that board size, profitability, and company size significantly influence capital structure, while performance transparency shows no significant impact. These findings provide valuable insights for banking management in optimizing funding strategies and enhancing risk management practices. The study contributes to the broader understanding of how internal governance dimensions and company metrics shape capital structure decisions, offering practical guidance for enhancing corporate financial stability.
Integrating Islamic spirituality into management control systems: A case study of sharia-based leadership Tatik, Tatik; Falikhatun, Falikhatun
JIFA (Journal of Islamic Finance and Accounting) Vol. 7 No. 1 (2024)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v7i1.9561

Abstract

This study aims to explore the practice of Management Control Systems (MCS) rooted in Islamic spiritual values. Utilizing an interpretive qualitative method with a single case study approach, data were collected through interviews, observations, and document analysis. The analysis of MCS was guided by principles derived from Islamic spirituality. The findings reveal that the spiritual values of the leaders, deeply influenced by the Al-Qur'an, Shiroh Nabawi, and their engagement with various Islamic communities, foster spiritual maturity. This spiritual foundation shapes wise leadership and results in an MCS that effectively steers the organization towards its intended goals. The implications of this research suggest that Muslim leaders should integrate Islamic character into the design of MCS, ensuring that organizations operate effectively to achieve both worldly and spiritual objectives, ultimately contributing to the well-being of the broader universe. The novelty of this study lies in its provision of new insights into the expression of MCS practices based on Islamic spirituality, the development of Islamic leadership character, and the connection between MCS and Sharia-compliant agreements.
Macroeconomic dynamics and sustainability index reporting: An Islamic economic perspective on ASEAN markets Bimantoro, Jonathan; Madnasir, Madnasir; Sisdianto, Ersi
JIFA (Journal of Islamic Finance and Accounting) Vol. 7 No. 1 (2024)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v7i1.9735

Abstract

This study investigates the relationship between macroeconomic variables and stock indices within the framework of Sustainability Index Reporting in selected ASEAN countries, incorporating an Islamic Economic perspective. Utilizing quantitative data from 2018 to 2022, the research employs panel data regression analysis, specifically a fixed effect model approach, to explore the impact of key economic indicators. The results indicate that GDP growth rate, population, interest rates, and exchange rates collectively have a significant effect on Sustainability Index Reporting, affirming the suitability of the regression model. Individually, the analysis reveals that GDP growth rate and exchange rates positively influence the Sustainability Index, while population and interest rates exert a negative impact. Moreover, GDP growth rate and interest rates are identified as significant factors, whereas population and exchange rates show an insignificant influence. These findings underscore the importance of macroeconomic stability in shaping sustainable financial practices in ASEAN markets, offering insights into the integration of Islamic economic principles in enhancing sustainable development and financial reporting.  
Key drivers of village fund management accountability: Insights from Sukoharjo district Khoirudin, Khoirudin; Noer Sasongko; Banu Witono
JIFA (Journal of Islamic Finance and Accounting) Vol. 7 No. 1 (2024)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v7i1.9736

Abstract

This study investigates the impact of the government's internal control system, the village financial system application (Siskeudes), and the competence of village apparatus on the accountability of village fund management in Sukoharjo District. Utilizing a quantitative approach, data were collected from a sample of village apparatus using a simple random sampling technique. Respondents, who are operators of the Siskeudes application, provided insights through a structured questionnaire. The data were analyzed using multiple regression analysis. The findings reveal that both the government's internal control system and the Siskeudes application significantly enhance the accountability of village fund management. However, the competence of the village apparatus does not have a significant effect on accountability. These results suggest that robust internal controls and effective financial systems are critical for ensuring transparency and accountability in village fund management. The study contributes to the ongoing discourse on public fund management by highlighting the importance of technological and systemic factors over individual competencies in achieving accountable governance.  
Islamic economic perspective on balancing growth and equity: A quantitative analysis of inflation and investment in ASEAN economies Mahmudin, Rizal; Madnasir; Sisdianto, Ersi
JIFA (Journal of Islamic Finance and Accounting) Vol. 7 No. 1 (2024)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v7i1.9753

Abstract

This study examines the interplay between inflation, investment, unemployment, and poverty and their collective impact on sustainable economic growth within the ASEAN region over the period from 2018 to 2022. Employing a quantitative approach with panel data analysis, the research focuses on five developing ASEAN countries. The analysis reveals that both inflation and unemployment significantly influence sustainable economic growth, while investment and poverty also play critical roles in shaping economic outcomes. From an Islamic economic perspective, the findings highlight the necessity of balancing material growth with spiritual values, environmental stewardship, justice, ethics, and community empowerment. This study underscores that economic growth should not only focus on immediate gains but must also prioritize long-term sustainability, ensuring that development benefits both current and future generations. The implications of this research offer valuable insights for policymakers in developing holistic strategies that align with Islamic economic principles, promoting equitable and sustainable growth.
Restoring the spirit of [accounting] education using Al-Attas' and Al-Faruqi's thoughts Febriansyah, Ari; Krisno Septyan
JIFA (Journal of Islamic Finance and Accounting) Vol. 7 No. 2 (2024)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v7i2.9840

Abstract

Current accounting education is inseparable from the idea of secularism, which can mislead the actual goals of [accounting] education. This study aims to offer civilized accounting education to free students [accounting] from secularism. The method used is the thoughts of Syed Naquib al-Attas and Ismail Raji al-Faruqi, which are sourced from the ontological synchronicity research method between researchers and thinkers. The results of this study state that to form a civilized accounting education concept, three steps can be taken, namely 1) making the Qur'an the basis and pinnacle of science, 2) Islamization of science, and 3) Integrating Islamic science into the accounting education curriculum. The ideas of previous thinkers regarding the dignity of science became the source of the formation of a more civilized accounting education concept. This study can answer the concerns about current accounting education by implementing adab as the formation of accountant character so that, in practice, later accountants can carry out their roles as humans who obey Allah SWT
Exploring fraud vulnerabilities in public sector promotions: An analysis through the lens of fraud hexagon theory and maqashid al-shari'ah Cahyo Kurniawan, Pratomo; Nailul Izaty, Santi; Febriani, Fenti
JIFA (Journal of Islamic Finance and Accounting) Vol. 8 No. 1 (2025)
Publisher : Universitas Islam Negeri Raden Mas Said Surakarta

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.22515/jifa.v8i1.9843

Abstract

This research delves into gratification fraud in the Pemalang Regency Government's job auction process, employing the Fraud Hexagon Theory and the Maqoshid Syariah concept. The study aims to uncover triggers for gratification and assess its alignment with Islamic principles, ultimately contributing to more effective fraud prevention. Using a qualitative method with a case study approach, data was gathered through in-depth interviews, field observations, and document reviews. The Fraud Hexagon theory identified key elements driving fraudulent acts, while Maqoshid Syariah served as an evaluative framework against Islamic values. Findings reveal that gratification in Pemalang's job auctions stems from factors like external pressure, opportunities, rationalization, and individual capabilities. From a Maqoshid Syariah perspective, such gratifications are deemed detrimental, deviating from principles of justice and benefit. The study suggests that applying sharia principles can strengthen monitoring and prevent future gratification. Theoretically, this research advances fraud detection models by integrating Fraud Hexagon and Maqoshid Syariah, an underexplored area. Practically, it offers actionable policy insights for local governments and anti-corruption bodies to reform job auction systems with an ethical and Islamic approach

Page 8 of 9 | Total Record : 87

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