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Jurnal Ekonomi dan Bisnis Islam
Published by Universitas Airlangga
ISSN : 24426563     EISSN : 25273027     DOI : -
Core Subject : Economy,
Journal of Economics and Business Islamic (JEBIS) accepts original manuscripts in the field of Islamics Economics, including research reports, case reports, application of theory, critical studies and literature reviews. The spread of Islamic Economics include: 1. Islamic Finance and Capital Market 2. Islamic Banking 3. Management of Islamic Business and Entrepenuership 4. Islamic Financial Institution non Bank
Arjuna Subject : -
Articles 187 Documents
ANALYZING ISLAMIC BANKS STABILITY: EVIDENCE FROM SOUTHEAST ASIA AND THE GULF COOPERATION COUNCIL COUNTRIES (GCC) Rani, Lina Nugraha; Bt Mohd Ariffin, Noraini; Ratnasari, Ririn Tri; Aulia, Melananda Risky
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 10 No. 2 (2024): JULY - DECEMBER 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v10i2.65092

Abstract

Introduction: This study investigates the factors, particularly those related to banks and macroeconomics, that influence the stability of 38 Islamic banks in Southeast Asian countries and the Gulf Cooperation Council (GCC) based on annual data from 2013 to 2020. The study aims to identify key determinants of stability across distinct regions and highlight the significance of these determinants in maintaining financial stability in Islamic banks. Methods: Using a quantitative approach with panel regression analysis, this study examines various factors influencing Islamic bank stability in Indonesia, Malaysia, the United Arab Emirates, and Qatar. Specific factors considered include Assets, Non-Performing Financing (NPF), Gross Domestic Product (GDP), and Return on Assets (ROA). Results: The findings reveal that in Indonesia, Assets, NPF, and GDP are significant factors influencing bank stability. In Malaysia, ROA, Assets, and GDP are significant, whereas in the United Arab Emirates, only ROA is significant, and in Qatar, only Assets are significant. Conclusion and suggestion: Islamic banks should pay attention to the Z-Score from previous periods and manage assets and liabilities effectively to ensure stability. Effective macroprudential supervision is also necessary to enhance resilience in the financial system. Maintaining asset quality is essential for mitigating risks to banking stability.
TECHNOLOGY ADOPTION ANALYSIS OF ISLAMIC BANKS MOBILE BANKING IN INDONESIA Siti Jamilah; Ramadhan, Zulfikar; Yalina, Nita; Nabighah, Mirrah
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 10 No. 2 (2024): JULY - DECEMBER 2024
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v10i2.65113

Abstract

Introduction: The primary objective of this research is to explore customer trust, attitudes, and experience , directly effect on perceived usefulnessas and perceived ease, and indirectly impact on attitude toward using and actual system use, as utilizing Mobile Banking of the 5 Top Brand Award Sharia Banks. Methods: The study employs a quantitative method, focusing on understanding the interrelations between multiple variables. Exerting random sampling of 280 customers from the 5 Top Brand Award Sharia Banks participated as respondents in the study, and data was collected through both questionnaires and secondary sources. Results: The findings from the study indicate that all variables i.e. customer trust, attitude, and experience have a significant effect on perceived usefulness and perceived ease of use. Furthermore, both of them also have significant on attitude toward using and actual system use. Conclusion and suggestion: In summary, the technology adoption and mobile banking use by consumers variables can be explained by the perceived usefulness and perceived ease of use variables. It implicates that customers have confidence that mobile banking provides benefits for customers related to financial transaction solutions. Therefore, Islamic banks have to always update their technology and inform the public how to use it.
HALAL TOURISM AMONG GEN Z: ANALYZING THE EFFECT OF HALAL AWARENESS AND DESTINATION TRUST ON VISIT INTENTION WITH RELIGIOSITY AS A MEDIATOR Dwicahyani, Rika Ra'idah; Shafira, Anindya Heidi; Maulana, Noveri; Mandalia, Siska
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.59898

Abstract

This study investigates the factors shaping Generation Z’s interest in halal tourism, with a focus on evaluating the alignment of Java Island’s destinations—Indonesia’s most populous region—with halal standards. Emphasizing the necessity for heightened awareness of halal compliance in tourism, data were gathered from 416 Indonesian respondents planning trips to Java. Structural equation modeling via SmartPLS analyzed the relationships among halal awareness, destination trust, religiosity, and visit intention. Results demonstrated that destination trust exerted the strongest direct influence on visit intention, surpassing halal awareness. Furthermore, religiosity significantly mediated the relationship between destination trust and visit intention, validating the role of religious values shape travel decisions. These insights highlight that halal tourism appeal hinges not only on transparent halal practices but also on fostering trust and integrating religiosity into destination planning. The study advocates for targeted strategies to enhance halal literacy and reinforce ethical tourism frameworks tailored to Gen Z’s evolving needs.
HALAL VALUE CHAIN: A BIBLIOMETRIC ANALYSIS A. Noer, Faza Muhlizoh; Al Mustofa, Muhammad Ubaidillah; Noer, Lissa Rosdiana; Aqilah, Nafla
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.61557

Abstract

Introduction: Despite growing interest in halal research, there is a lack of complete understanding regarding the strategic contribution of the halal value chain to business performance and operations. Issues such as fragmented regulations and limited standardization beyond the food sector exacerbate this. This study aims to systematically analyze the evolution of halal value chain topics within academic discourse, identifying trends, evaluating the impact of research, recognizing key contributors, and suggesting directions for future research. Methods: This study adopts a bibliometric analysis methodology. The study analyzed 233 Scopus and 116 Web of Science-indexed research publications. The export data is then processed and analyzed using R-studio software to determine the bibliometric map of the halal value chain. Results: The findings demonstrate a significant increase in halal value chain research since 2011, with a primary concentration in Southeast Asia and a focus on micro, small, and medium-sized enterprises (MSMEs) and the halal food industry. Researchers have identified the gaps in non-food halal sectors, including cosmetics, pharmaceuticals, finance, and tourism. The analysis also highlights three strategic clusters—governance and certification, technological and operational integration, and market-oriented strategies—each contributing to economic, operational, and ethical outcomes. Conclusion and Suggestion: This study reveals that adopting a value chain perspective in halal supply chain management necessitates a comprehensive and integrated strategy. Future research should focus on empirical studies, sectoral diversification, and innovation in digital halal assurance to enhance the sustainability of the global halal ecosystem.
BRIDGING THE GAP BETWEEN MAQĀṢID AL-SHARĪ‘AH AND THE SDGs: CHALLENGES AND OPPORTUNITIES FOR SUSTAINABLE DEVELOPMENT Mustofa, Hafidz Zainul; Wahyudi, Amin; Marpuah, Siti
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.62689

Abstract

The SDGs are designed as a universal and inclusive global development framework, but their implementation still lacks flexibility in accommodating the spiritual dimension and ethical principles. Based on quantitative indicators and material achievements, the SDGs approach ignores the moral, social, and spiritual aspects as the core of maqāṣid al-sharī‘ah. Therefore, this study seeks to analyze the alignment between the SDGs and maqāṣid al-sharī‘ah and proposes integrating Islamic values ​​to strengthen the moral, social, and ecological dimensions within the sustainable development framework. This research uses a systematic literature review analysis method, focusing on literature to explore integrating the maqāṣid al-sharī‘ah concept in sustainable development. The data sources in this study are journal articles, books, and other relevant documents. Sustainable development involves a multidimensional approach encompassing social, lifestyle, human resources, economic, environmental, and institutional dimensions. In the concept of maqāṣid al-sharī‘ah, this approach must balance the public interest, social welfare, and environmental protection by emphasizing the principles of justice and ethical and moral responsibility. Challenges in this implementation include integrating maqāṣid al-sharī‘ah values ​​with the SDGs, various interpretations of maqāṣid, economic and social challenges, climate change, and technological advancement. The integration of maqāṣid al-sharī‘ah with the SDGs shows alignment. It supports the achievement of welfare, but challenges, such as integration, interpretation, economic and social, environment, and technology, must be overcome for effective implementation. This study recommends strengthening sustainable development policies that consider maqāṣid al-sharī‘ah through education, technological innovation, and stakeholder collaboration.
THE STUDY ON ISLAMIC VALUES AND WOMEN ENTREPRENEURSHIP MSMES Maksum, Asep; Sevriana, Lufthia; Pratiwi, Anggun; Rahmi, Asri Noer
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.63761

Abstract

This study investigates of Islamic values on the sustainability strategies of women-led, knowledge-based micro, small, and medium enterprises (MSMEs). Women entrepreneurs significantly contribute to community welfare, and to contextualize the analysis, this study employs a literature review approach by examining prior research on Islamic business ethics, gender dynamics in entrepreneurship, and sustainability practices in MSMEs. The review highlights how Islamic principles may serve as foundational values influencing sustainable business practices among women entrepreneurs. By using bibliometric analysis using data from the Scopus database spanning from 2005 to 2024. A total of 29 documents were initially identified using keywords related to Islamic values, women entrepreneurship, and MSMEs. The bibliometric data were analyzed using VOSviewer software to visualize publication trends, keyword networks, and research clusters in the field. Bibliometric analysis of 22 Scopus-indexed articles identified three dominant research clusters: Islamic ethics and gender identity, social capital and business knowledge, and community-based micro entrepreneurship. The Journal of Business Ethics was the most prominent outlet, and the most cited scholars were Essers & Benschop (2009). The results highlight a lack of empirical research connecting Islamic values with financial literacy and sustainability outcomes in women-led MSMEs. Islamic values, such as honesty, justice, and social responsibility, serve as ethical foundations for women entrepreneurs in Muslim contexts. Future studies should examine the link between Islamic womenpreneurs and financial literacy, particularly their engagement with Islamic microfinance. Additionally, exploring how cultural variations within Muslim societies influence women's entrepreneurial approaches would provide valuable insights.
THE ROLE OF ISLAMIC CORPORATE GOVERNANCE IN REDUCING SHARIA BANK FINANCING RISK IN INDONESIA Sabihah, Khansa; Mutamimah, Mutamimah; Saputri, Pungky Lela; Rusdi, Dedi; Setapa, Mariam; Abarahan, Amnisuhailah
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.64146

Abstract

This study examines Islamic Corporate Governance (ICG), proxies by Sharia Supervisory Board, in mitigating the negative impact of Murabahah, Mudharabah, and Musyarakah financing on Non-Performing Financing (NPF) in Indonesian Islamic banks (2012–2023). This study employs purposive sampling to analyze 132 Islamic bank data from the Financial Services Authority (OJK) (2012–2023). Using Moderated Regression Analysis (MRA) the model testing panel static regression model by adding ICG as moderating variable. Murabahah, musharakah, and mudharabah significantly increased NPF, indicating the high financing risk of these contracts. ICG has a significant direct effect on lowering NPF, but does not moderate the relationship between financing and NPF significantly. This shows that increasing the number of ICG without adequate quality and coordination is not effective in strengthening the supervisory function, because it can cause overlapping tasks, coordination problems, and free riding behavior which actually weakens financing risk control. In summary, bank’s need to maintain their financing, especially for Murabaha and Musyarakah products. Further, considering to choosing expert ICG might help banks to break the NPF. The implication of this study is that while different sharia financing schemes significantly affect credit risk in Islamic banking, the Sharia Supervisory Board plays a crucial yet non-moderating role, highlighting the need to enhance its authority and operational involvement to strengthen risk mitigation efforts.
SDGs IN ISLAMIC COMMERCIAL AND SOCIAL FINANCE LITERATURE: A BIBLIOMETRIC AND CONTENT ANALYSIS Fajri, Mohammad Zen Nasrudin; Latif, Abdul; Fajlurrahman, Muhammad Afif Haidar; Muhammad, Adamu Abubakar
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.64274

Abstract

A number of Muslim-majority countries scored low in SDGs achievements, mainly due to the limitation of funding sources. Many Islamic scholars propose Islamic Finance to address this issue. This research was performed to determine the impactful authors, institutions, countries, journals and keywords in the literature on SDGs in Islamic Commercial Finance (ICF) and Islamic Social Finance (ISF). Furthermore, this paper also presents the discussion on relevant trends and proposes directions for future research in this field. A bibliometric approach and content analysis were administered in analyzing 139 articles retrieved from the Scopus database. The results show that Hassan R. is the most productive author, while Universitas Airlangga and Malaysia are leading institution and country focus in this research theme. “International Journal of Ethics and System” is the leading journal, and the most influential keywords are “SDGs”, “Islamic finance”, and “waqf”. Six research streams were identified: 1) Governance and Performance for SDGs; 2) Innovation for Financing SDGs; 3) Digitalization for SDGs Realization; 4) Green Investment for SDGs Realization; 5) Solution for Socioeconomic Issues; and 6) Contribution to Economic Sustainability. Governments and regulators are recommended to strengthen Islamic finance by ensuring Shariah compliance, promoting blended finance, regulating fintech, incentivizing green sukuk, standardizing SDG reporting, and fostering cross-border harmonization to enhance sustainability, financial inclusion, and economic growth while balancing innovation and risk management.
ANALYSIS OF FACTORS AFFECTING THE S&P/OIC COMCEC 50 SHARIAH STOCK INDEX Suhartini, Nani; Ratnasari , Ririn Tri; Ismail, Shafinar
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.65500

Abstract

Investors and policymakers in Islamic financial markets are expected to comprehend variables impacting the performance of Standard and Poor (S and P)/Organization of Islamic Cooperation (OIC) COMCEC 50 Islamic Stock Index. Therefore, this research aims to analyze the effects of S&P/OIC COMCEC 50 Islamic Stock Index on inflation, West Texas Intermediate (WTI) oil prices, United States Economic Policy Uncertainty (US EPU), and geopolitical risk (GPR). Autoregressive Distributed Lag (ARDL) model is used in the quantitative monthly data analysis spanning 2019-2023. The analysis estimates the adjustment rate toward long-term equilibrium using Error Correction Term (ECT). Furthermore, the short and long term links between global variables and S&P/OIC COMCEC 50 Index are analyzed. The results show that Islamic stock index benefits greatly from WTI oil prices over the long and short terms. Even though inflation and US EPU have no direct effects on the index, GPR shows a strong positive influence over the periods. However, the considerable ECT coefficient points to a quick adjustment process toward long-term equilibrium after external shocks. The significance of oil prices and geopolitical dynamics as major drivers of changes in Islamic financial markets is supported even though US EPU and worldwide inflation have a less significant effect. Based on the description, this research aimed to offer strategic recommendations for Islamic financial markets’ external risk management. Future research should incorporate other macroeconomic factors such as exchange rates, Islamic interest rates, and fiscal stability to understand the durability of Islamic financial index.
LITERATURE SURVEY AND RECOMMENDATIONS FOR SUKUK RESEARCH DIRECTIONS Supriani, Indri; Pimada, Laila Masruro; Kurniawan, Deni; Yuana, Pusvita; Nabella , Rihana Sofie; Muljaningsih , Sri
Jurnal Ekonomi dan Bisnis Islam (Journal of Islamic Economics and Business) Vol. 11 No. 1 (2025): JANUARY - JUNE 2025
Publisher : Universitas Airlangga

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.20473/jebis.v11i1.65613

Abstract

Sukuk have emerged as a significant alternative source of funding, gaining recognition as a safe-haven investment instrument that attracts considerable attention from both practitioners and academics. This research aims to evaluate the current state of Sukuk literature through a combination of quantitative and qualitative analyses. This study adopts a hybrid methodology. A bibliometric analysis is employed to identify the most influential institutions, authors, journals, and highly cited articles in the field. In addition, a Systematic Literature Review (SLR) approach was chosen to highlight the most frequently discussed topics in Sukuk-related literature, extract the main findings from previous studies, and propose possible directions for future research. Findings from previous studies suggest that educational institutions such as Malaysian and Indonesian universities are major contributors to Sukuk research. This study concludes that there are four thematic groups in the existing literature: (1). Sukuk as a Safe Investment Instrument Option in Islamic Financial Market; (2). Development of Sukuk in the Global Financial Market Industry; (3). Dynamics and Potential of Sukuk as an Investment Instrument; and (4). Comparison between Sukuk and Conventional Bonds. This study adds to the body of knowledge in academic research by encouraging collaboration between international institutions and researchers, thereby improving the quality of cross-country research on the topic of Sukuk. Furthermore, this study provides valuable insights for future researchers to fill some of the key research gaps that have not been explored.