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Ahmad Suminto
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iej@unida.gontor.ac.id
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Department of Islamic Economics University of Darussalam Gontor, Jl. Raya Siman, Demangan - Siman - Ponorogo, Jawa Timur, 63471
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INDONESIA
Islamic Economics Journal
Published by Universitas Darussalam Gontor
ISSN : 24601896     EISSN : 25415573     DOI : -
Core Subject : Economy, Humanities, Science, Social,
Humanities Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Environmental Science Social Sciences
Islamic Economics Journal is an international journal providing authoritative sources of scientific information for researchers and scholars in academia, research institutions, government agencies, and industries. Published semi-annually (June and December) by Department of Islamic Economics, Faculty of Economics and Management, University of Darussalam Gontor. Editors accept scientific articles and results of research in accordance with contemporary Islamic economics issues in big five areas namely; Islamic Public Economics, Islamic Monetary Economics, Islamic Business Economics, Islamic International Economics, and Islamic Development Economics.
Arjuna Subject : Ilmu Ekonomi, Ekonometrika dan Keuangan (semua kategori) - Ilmu Ekonomi, Ekonometrika dan Keuangan (Lain-Lain)
Articles 7 Documents
 1 
The Moderating Role of Islamic Values on Impulse Buying in E-Commerce Promotions: Case of Muslim Students in Semarang Muhammad Rezky Rezky; An’im Kafabih Kafabih
Islamic Economics Journal Vol. 11 No. 1 (2025)
Publisher : Islamic Economics Journal

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Abstract

The surge in e-commerce in Indonesia has intensified business competition, leading to aggressive promotional strategies that often trigger impulse buying, a behavior misaligned with Islamic teachings on balanced consumption. This study examines the impact of promotions on impulse buying behavior among Muslim students in Semarang and how self-control, taqwa, and sadaqah moderate this relationship. Employing a quantitative approach with SEM-PLS on 100 respondents, this study found that while promotions significantly induce impulse buying, only sadaqah effectively moderates this effect negatively. This suggests that charitable giving can counteract the allure of promotional offers. This study also highlights taqwa and self-control among students as the main issues they face, as those variables are insignificant. Practically, this study advises marketers on ethical promotion strategies and empowers consumers to practice mindful spending. Future studies should consider broader socio-cultural factors and diverse samples to validate these findings and explore the dynamics of these relationships over time.
Comparison of Islamic Commercial Banks and Islamic Business Units: Which Is More Efficient? Zulfa Ahmad Kurniawan Kurniawan
Islamic Economics Journal Vol. 11 No. 1 (2025)
Publisher : Islamic Economics Journal

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Abstract

Although Islamic banks have been present in Indonesia for three decades, their market share remains significantly behind that of conventional banks. In response, regulators have mandated that Islamic Business Units (UUS) be converted into full-fledged Islamic Commercial Banks (BUS) once specific criteria are met. This study aims to analyze the development of operational efficiency between BUS and UUS in Indonesia. The research uses secondary data from the 2015-2024 period obtained from OJK Islamic banking statistics. The methods employed include descriptive statistical analysis and the nonparametric Mann-Whitney U test. The findings reveal a statistically significant difference in efficiency between BUS and UUS, as reflected by the BOPO ratio, with UUS proving to be more efficient than BUS. Theoretically, this study provides new and updated insights into the cost efficiency management capabilities of BUS and UUS. These findings also highlight the need for policymakers to ensure that the separation does not compromise efficiency while maintaining the sustainability of Islamic banks.
Partnership Cooperation Models in Fiqh Muamalah: A Case Study of Kencana Mulia Sejahtera Cooperative in Ngawi Imam kamaluddin Imam; Ahmad Muqorobin Muqorobin; Eko Nur Cahyo Eko; Aliyya Lathifa Daniswara Daniswara
Islamic Economics Journal Vol. 11 No. 1 (2025)
Publisher : Islamic Economics Journal

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Abstract

This study aims to analyse the partnership pattern applied by Kencana Mulia Sejahtera Cooperative in Ngawi in the perspective of fiqh muamalah. This cooperative focuses on a form of cooperation between cooperatives and their members, aiming to increase coffee production and sales. Using a descriptive qualitative approach, data were collected through in-depth interviews, field observations, and documentation, then processed through data reduction, data display, and conclusion drawing. The findings show that the partnership implemented by Kencana Mulia Sejahtera Cooperative and its members follows two partnership patterns. When examined through the lens of fiqh muamalah, these partnership patterns align with syirkah ‘inan and mudharabah. The profit-sharing mechanism is based on each party’s contribution, with risks shared proportionally. The analysis shows that the partnership reflects syirkah ‘inan, where both contribute capital and share profits, and mudharabah, where the cooperative manages farmers’ capital for marketing. This structured cooperation mechanism has strengthened the economic position of farmers by ensuring fair distribution, price stability, and access to a broader market. Further research is recommended to refine the implementation of this partnership model in other agribusiness sectors and improve its operational efficiency.
How Do Trust and Convenience Build Long-Lasting Loyalty? A Study of Muslim Female Gen-Z on Shopee Ika Zulfiani; Nurfitriani; Nursyamsu; Dewi Salmita; Salameh Alkhazaleh
Islamic Economics Journal Vol. 11 No. 1 (2025)
Publisher : Islamic Economics Journal

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Abstract

Thi s study aims to understand how trust and convenience can build long-lasting customer loyalty among Muslim Female Generation-Z users on the Shopee app, with customer satisfaction as the key moderating factor in this relationship. This research is a descriptive-analytical study. The total population consists of 826 respondents, with a purposive sampling technique employed. Using the Slovin formula, a sample of 89 respondents was obtained. Data collection was conducted through questionnaires, and the data analysis techniques employed include validity testing, reliability testing, classical assumption testing, multiple regression analysis, hypothesis testing, Moderated Regression Analysis (MRA), and determination testing. Using a quantitative approach, data were collected through questionnaires from Muslim Female Generation-Z respondents and analyzed using SPSS. The findings reveal that both trust and convenience significantly contribute to increased customer loyalty, with customer satisfaction strengthening this relationship. This study offers new insights into the importance of building trust and providing convenience to create a satisfying and sustainable shopping experience for Muslim Female Generation-Z users. Consequently, these findings highlight key factors that e-commerce platforms should consider to retain customer loyalty, particularly among young Muslim women.
Job Satisfaction’s Dual Role in Transformational Leadership and Turnover Intention: An Islamic Boarding School Business Unit Ari Prasetyo; Siti Inayatul Faizah
Islamic Economics Journal Vol. 11 No. 1 (2025)
Publisher : Islamic Economics Journal

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Abstract

This study examines the dual role of job satisfaction as both a mediating and moderating variable in the relationship between transformational leadership and turnover intention among employees in the business unit of the Sunan Drajat Islamic Boarding School in Lamongan. Adopting an explanatory research design, the study collected data from 93 employees through structured questionnaires and analyzed the results using Structural Equation Modeling (SEM). The findings reveal that job satisfaction significantly mediates the effect of transformational leadership on turnover intention, indicating that transformational leadership can indirectly reduce employees’ desire to leave by enhancing job satisfaction. However, job satisfaction does not significantly moderate this relationship. Conducted within the context of a pesantren, the study suggests that transformational leadership, potentially reflecting Islamic leadership values such as siddiq (truthfulness), fathanah (wisdom), amanah (trustworthiness), and tabligh (communication), can foster job satisfaction and employee retention. Theoretically, this research contributes to the understanding of leadership dynamics in Islamic institutional management, emphasizing the importance of integrating spiritual and ethical dimensions into organizational practices. Practically, this study suggests that Islamic educational institutions should cultivate transformational leadership that embodies Islamic values to enhance employee job satisfaction and ultimately reduce turnover intentions.
Optimization of Zakat Management Based on Ethereum Blockchain and Its Impact on Cost Efficiency Ilham Ardhiyansyah; Ahmad Furqon; Mashilal
Islamic Economics Journal Vol. 11 No. 1 (2025)
Publisher : Islamic Economics Journal

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Abstract

Zakat is a fundamental component of Islamic social finance, intended to reduce inequality and strengthen community welfare. However, traditional zakat systems face recurring issues, including inefficiency, lack of transparency, and low public trust. This study aims to optimize zakat management using Ethereum blockchain technology, particularly the Layer 2 (Base) network, with a focus on its impact on cost efficiency and system transparency. Using a qualitative-descriptive approach, the research designs and simulates a blockchain-based zakat distribution model that incorporates smart contracts for automated fund allocation to eight categories of ashnaf, along with off-chain verification for Sharia compliance. A simulation of USDC 1,000 zakat fund distribution demonstrates that the blockchain system ensures accurate, traceable, and tamper-proof transactions, while reducing transaction costs by over 98% compared to conventional methods. Smart contracts automate the disbursement process, while all transaction records are stored on a public ledger, which supports real-time auditing and enhances institutional accountability. These results demonstrate that the integration of blockchain technology not only improves operational efficiency and transparency but also supports Islamic legal and ethical governance. In conclusion, this model provides a practical and scalable framework for modernizing zakat management with a strong emphasis on cost efficiency, public trust, and Sharia compliance.
The Effect of Workload, Work Stress, and Compensation on Employee Performance with Work Motivation As an Intervening Variable Habib Amrillah; Sri Wahyuni; Erny Rachmawati; Suyoto
Islamic Economics Journal Vol. 11 No. 1 (2025)
Publisher : Islamic Economics Journal

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Abstract

This study aims to investigate the impact of work burden, work stress, and compensation on employee performance, with motivation serving as an intervening variable. This research employs a quantitative approach, using a method that collects data in the form of questionnaires, which are then converted into a Likert scale. In research, populations and samples are often discussed. There are 100 employees at LAZISMU Central Java, and the study employs saturated sampling, a type of non-probability sampling. Analysis method used in this study: SEMPLS (Structural Equation Modeling - Partial Least Squares). The study’s results indicate that workload has a significant effect on work motivation and employee performance, both directly and through work motivation as an intervening variable. The more precise the workload management, the higher the motivation and performance produced. In contrast, compensation and work stress have no significant effect, either directly or indirectly, on motivation and performance. These findings indicate that in a work environment like Lazismu Banyumas, employee performance is more influenced by internal factors and work values, such as the meaning of workload and motivational strength, rather than financial incentives or work pressure.

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