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Faisal Efendi
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faisalefendi215@gmail.com
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+6282388405582
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faisalefendi215@gmail.com
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Balai Selasa, Jalan Air Batu No.9, Pelangai, Kec. Ranah Pesisir, Kabupaten Pesisir Selatan, Sumatera Barat 25666
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Kab. pesisir selatan,
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INDONESIA
JIEFIS: Journal of Islamic Economics and Finance Studies
Published by STAI Balaiselasa YPPTI Pesisir Selatan
ISSN : -     EISSN : 31091660     DOI : -
Core Subject : Religion, Economy, Humanities, Science, Social,
Religion Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Social Sciences
Journal of Islamic Economics and Finance Studies (JIEFIS) publishes qualified and in-depth analysis of current issues within Islamic finance and Islamic economics. The journal welcomes robust evidence-based empirical studies and results-focused case studies. The central theme of the manuscripts received in Journal of Islamic Economics and Finance Studies (JIEFIS) is the study of Islamic economics and Islamic finance. Journal of Islamic Economics and Finance Studies (JIEFIS) theme focuses on case studies of Islamic economics and Islamic finance in various parts of the worlds. Journal of Islamic Economics and Finance Studies is published by the Institute for Research and Community Service, STAI Balaiselasa YPPTI Pesisir Selatan, Indonesia in collaboration with the International Islamic Studies Development and Research Center (IISDRC) https://iisdrc.org/. Journal of Islamic Economics and Finance Studies It is published twice in June and December every year
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 10 Documents
 1 
Main Economic Problems: Conventional and Islamic Perspectives Yosi Mardoni; Muhammad Fauzi; Duhriah Duhriah; Faisal Efendi; Kusnadi Kusnadi
Journal of Islamic Economics and Finance Studies Vol. 1 No. 1 (2025): June
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

This study aims to analyze the main economic problems from conventional and Islamic perspectives. This is based on the fact that conventional economists view the main problem of economics as scarcity. Scarcity occurs as a result of an imbalance between society's needs. However, Muslim economists have different views from conventional economists, even within Muslim economists they still have different opinions regarding the main economic issues. In this research, the methodology used is descriptive with a qualitative approach. The data used is secondary data in the form of literature which discusses the object of this research. Research analysis was carried out in steps, such as material collection, descriptive analysis, discussion and intuitive-subjective evaluation of the material. The findings show that  there is a fundamental difference in the perspective on the main economic problems between conventional economic views and Islamic economics.. Conventional economics focuses more on product objects so that the focus of problems is centered on the limitations and scarcity of products in order to meet human physical needs only. This perspective is different from Islamic economics which places greater emphasis on human objects so that the focus of problems is not only focused on products alone, but also on human empowerment to be able to prosper themselves, their families, society and the country. This is one of human efforts in realizing/maintaining Maqashid Sharia (Mashlahah) and achieving Falah. Islam views that human dignity is an essential thing, so that every human being plays a role in achieving happiness in life.
Patterns of Switching Behaviour of Ethnic Chinese Customers in Choosing Sharia Banking in Padang City Hafnil Saputra; Helmalia Helmalia; Afrikal Candra; Lili Suarni; Nurlaila Nurlaila
Journal of Islamic Economics and Finance Studies Vol. 1 No. 1 (2025): June
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

Understanding customer switching behaviour patterns from conventional to Islamic banks forms the basis for analysing various motives or reasons. Essentially, the switching principle, whether in terms of savings, transactions, or investments, contributes to the emergence of the code of using Islamic banks as either a choice or in totality. This research is a phenomenological study with a descriptive qualitative analysis, which provides information on the direct pattern of customer switching behaviour. The study focuses on minority groups in the city of Padang, namely the Muslim and non-Muslim Chinese ethnic groups, who are predominantly entrepreneurs. The study results indicate that the switching behaviour of Chinese ethnic customers in Padang, who choose Islamic banks, is driven by various motives. Religious motives influence Muslim Chinese ethnicity due to fears about transactions prohibited by Islamic law, such as those containing ribawi elements. Other explanations include the need for Islamic banks, development and concern for Islamic banks, and commercial reasons like using cash flow transactions or inflows and outflows through interbank transfers using Islamic bank services, salary receipts, security, and service comfort. The final motive is the perception that Islamic bank products are more attractive and diverse. Non-Muslim Chinese ethnicity is influenced by security, especially from certain burdens, particularly on Wadi’ah Amanah savings products, which allow saving without incurring fees.
The Existence of the Theory of Planned Behaviour: Implications for Purchasing Halal Cosmetics Eydina Hanni Abdila
Journal of Islamic Economics and Finance Studies Vol. 1 No. 1 (2025): June
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

Theory of Planned Behaviour (TPB) is a psychological framework used to understand and predict individual behavior. In the context of halal cosmetics, TPB can explain the factors that influence consumer intentions and decisions to purchase these products. Factors such as attitudes towards products, subjective norms, and perceived behavioral control have a major influence on purchasing decisions. With the increasing awareness of the importance of halal-compliant cosmetic products, it is important to understand how TPB can be applied in analyzing consumer behavior in the halal cosmetics market. This research aims to find out how the presence of the Theory of Planned Behavior (TPB) influences consumers' purchases of halal cosmetics. The method used in this research is a qualitative descriptive method with a phenomenological approach. This research includes library research using secondary data obtained from scientific articles and other relevant literature. The findings show that the Theory of Planned Behavior (TPB), which consists of attitudes, subjective norms, and perceived behavioral control, can determine consumer intentions and behavior in purchasing halal cosmetics. This means that the existence of TPB has a big influence on consumers' intentions and behavior to buy halal cosmetics.
Constructive Philosophy: From Innovation of Financial Institution Services Towards A Progressive Islamic Economy Paisal Rahmat; Marlian Arif Nasution; Fadhilah Hanum Lubis; Widia Sulastri
Journal of Islamic Economics and Finance Studies Vol. 1 No. 1 (2025): June
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

One measure of the success of Islamic banking can be achieved if the bank has a large number of customers. The number of customers is certainly based on good service quality. Based on this, the purpose of this study was to analyze the innovations that were built in improving service quality at the Mandailing Natal branch of Indonesian Sharia Bank. This study uses field research methods that are oriented towards in-depth interviews directly at the research location. The results obtained are that the bank always prioritizes good moral ethics towards customers, trains communication skills, complete attributes, and evaluates customers on employees in a consistent manner. Customer service must have expertise in the field of communication, which must be taken into account because each customer has different characteristics, so clear and directed communication is needed so that misunderstandings do not arise. Identification marks are always shown so that customers recognize the employee. If at any time the service provided to the customer is less than positive, the customer can report the customer service employee to evaluate his performance by simply stating the name of the employee himself and a thorough evaluation of the employee's performance.
The Role of Al-Hukm in Shaping Islamics Business Behaviour Delima Sari Lubis; Aliman Syahuri Zein; Erlina Yulianda; Ira Sumarni
Journal of Islamic Economics and Finance Studies Vol. 1 No. 1 (2025): June
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

The integral relationship between Al-Hukm and Islamic business behavior, which will have an impact on society and the surrounding environment. Legal principles in Islam function as a moral foundation in business practices. These principles guide business actors to make decisions that reflect Islamic values, namely honesty, transparency and social responsibility. This framework encourages businesses to not only achieve financial success now, but also consider future impacts. Through Islamic business ethics, Al-Hukm will shape business behavior that is not only in line with Islamic values ​​but also encourages economic development. This research is a qualitative-descriptive type of research The data collection method used is documentary study, namely a method related to various existing documents about the research object. The emphasis on business ethics as part of Al-Hukm has a positive impact on the sustainability of Islamic business. Honesty, transparency and social responsibility are an inseparable part of business practices inspired by Al-Hukm principles. This is what distinguishes Islamic business as a deep ethical force Overall, Al-Hukm's role is not only limited to regulation and compliance, but forms the essence of responsible and ethical Islamic business behavior. By understanding and respecting the principles of Al-Hukm, Islamic business becomes a transformational force that not only creates economic value but also contributes to the development of a better society. Thus, the role of Al-Hukm is not only normative but also formative in shaping the character of an empowered and ethical Islamic business.
The Effect of the Fed Interest Rate and Inflation on the Composite Stock Price Index M. Habiburrahman; Rayhan Witra Pratama; Celia Zilfitri; Saipul Azis; Edwin Jeri; Bintang Bintang; Nuraiman Nuraiman; Cici Isma Putri
Journal of Islamic Economics and Finance Studies Vol. 1 No. 2 (2025): December
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

Composite Share Price Index (IHSG ) is an indicator that generally reflects the tendency of stock price movements on the Stock Exchange. In this study there are several main issues to be discussed, namely: how much influence the Fed interest rate has on the IHSG), how much influence the Inflation rate has on the (IHSG) and how much influence the Fed interest rate and Inflation has on the Composite Share Price Index (IHSG). This research is a quantitative study using descriptive analysis method with associative approach that is connecting between two or more variables. This study uses secondary data, namely data obtained from available sources such as journals, books, or the internet. While data collection techniques from books and articles and other relevant sources to obtain data that can be used as a foundation related to the object in the study. The data used is annual time series data, and processed using Eviews 7.1. Simultaneously, the results of this study indicate that the Fed interest rate and Inflation on the (IHSG) for the period 2006-2015 have a negative and insignificant effect with a probability F-statistic value of 0.106550. Partially regression results at the real level of 0.05, the Fed interest rate has a negative and insignificant effect on the (IHSG ) with a coefficient of -432.2465 and a probability value of 0.1224, inflation has a negative and insignificant effect on the (IHSG ) with a coefficient of -22.85330 with a probability of 0.8981.
Effectiveness Socialization Program of The Micro Small and Medium Enterprises Hariyo Hariyo; Hulwati Hulwati; Aidil Novia; Afrinal Afrinal
Journal of Islamic Economics and Finance Studies Vol. 1 No. 2 (2025): December
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

This study aims to analyze the socialization of the Bayang Bungo Indah SMEs program and its impact on business participation. This research uses a qualitative method with a case study approach (case study design). Data sources were taken from sixty-six informants through in-depth interviews selected using purposive sampling technique, all informants were active business actors totaling 66 people. All interview results were then analyzed using simple mathematical and statistical methods. The results of the analysis found that socialization has been maximized because the Chairperson is actively socializing the Bayang Bungo Indah SMEs program and the socialization is well delivered and very easily accepted by members. The Chairperson also said that this program is very helpful for community welfare because business actors can easily manage their businesses. Socialization is needed by SMEs members because this will affect the implementation of the SMEs program itself, the role of the chairman and assistants is quite large in the implementation of the Bayang Bungo Indah SMEs program, because the chairman and assistants are expected to solve the problems faced by each group.
Analysis Influence of Religious Level on Islamic Business Behaviour of Food Micro Business Actors Sucipto Febrianto; Ibnu Amin; Mursal Mursal; Nailur Rahmi; Anton Akbar
Journal of Islamic Economics and Finance Studies Vol. 1 No. 2 (2025): December
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

This study aims to test the three dimensions of religiosity, namely the dimensions of belief, worship and practice of Islamic business behaviour. The data used is primary data from questionnaires. Variable testing was carried out by classical assumption tests and statistical tests through the analysis of the spss 20 program. The partial test results in this study found that belief has a positive and significant effect on Islamic business behaviour with a t value of 2.288 greater than the t table of 1.66 and reinforced by a significance value of 0.003 <0.05. Worship has a positive and significant effect on Islamic business behaviour with a t value of 2.653 greater than the t table of 1.66 and reinforced by a significance value of 0.009 <0.05. Practicing has a positive and significant effect on Islamic business behaviour with a t value of 3.767 greater than the t table of 1.66 and strengthened by a significance value of 0.000 <0.05. Simultaneous test results in this study found that ideological variables, worship and practice variables simultaneously (simultaneously) affect the Islamic business behaviour variable. The test results obtained F count of 19.917 greater than the F table of 2.725 and reinforced by a significance value of 0.000 <0.05. From these results it is concluded that the aspect of belief as the first independent variable (X1), the aspect of worship as the second independent variable (X2) and the aspect of practice as the third independent variable (X3) simultaneously has a positive and significant effect on the dependent variable (Y), namely Islamic business behaviour. Together, religiosity has a significant influence on Islamic business behaviour. Religiosity arises from the recognition of truth by sincerity. Overall the traders have a different level of religiosity. This religious attitude fosters Islamic business behaviour in different ways. Although business behaviour is different, it does not violate the rules of Islamic business principles and ethics.
Islamic Economic System: Scientific Method Versus Aqliyah Method Al Mahdi; Andriyani Andriyani; Fitra Mulyawan; Rahma Dani; Kiki Yulinda; Dora Tiara
Journal of Islamic Economics and Finance Studies Vol. 1 No. 2 (2025): December
Publisher : Journal of Islamic Economics and Finance Studies

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Abstract

This research discusses two main approaches in the development of Islamic economics, namely the scientific method and the rational method. The scientific method is an empirical approach that emphasizes observation, experimentation, and data analysis in testing economic phenomena objectively and systematically. In contrast, the rational method is a rational approach that focuses on the ability of reason to understand the principles and fundamental values of Islamic economics sourced from the Qur'an and Hadith. The research method used in this study is library research with secondary data sources. This study aims to show that these two methods are not contradictory approaches, but rather complementary in building a comprehensive epistemology of Islamic economics. Through literature study and analysis of academic literature, it was found that the scientific method is very effective in measuring the application of Islamic values in modern economic practices, while the rational method plays an important role in formulating the philosophical and normative principles of Islamic economics. The integration of both becomes important in creating an Islamic economic system that is not only rational and empirical but also value-oriented and based on revelation. Thus, Islamic economics can develop as a distinct discipline, different from conventional economics in terms of goals, approaches, and fundamental values.
From Conventional Tourism to Sharia Tourism: Achievements and Requirements Linda Sari Bulan Siregar; Tiara Rahayu; Mardianton Mardianton; Zulhijatul Rahmi; Supardi Dwimaputra; Marizem Munir
Journal of Islamic Economics and Finance Studies Vol. 1 No. 2 (2025): December
Publisher : Journal of Islamic Economics and Finance Studies

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The global tourism industry has seen significant growth, including in Indonesia. However, as Muslim awareness of Sharia principles increases, there is a growing need for alternative forms of tourism that not only offer entertainment but also align with Islamic values. This article discusses the paradigm shift from conventional tourism to Sharia tourism. The researcher used the library research method, which involves reviewing, analyzing, and examining data obtained from various written sources relevant to the research topic. Library research aims to obtain a theoretical foundation and in-depth understanding of the issues being studied through literature sources, including concepts, implementation, and challenges faced. Conventional tourism often does not consider aspects of halal-haram, modesty boundaries, and interactions between the sexes, whereas Islamic tourism emerges as a solution by prioritizing Islamic ethical principles in all tourism activities. The study indicates that Islamic tourism has significant potential as an alternative tourism model that not only attracts Muslim tourists but also fosters the growth of a sustainable halal industry. However, this transition requires collaboration between the government, industry players, and the community to be realized optimally.

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