Journal of lslamic Economics and Bussines Ethics
type: channel
description: Journal Title : JIESBI: Journal of Islamic Economics and Business Ethics Frequency : 3 Issues per Year Articles per Issue : 5 Articles DOI Prefix : 10.24235 by Crossref P-ISSN : 3064-4585 E-ISSN : 3047-311X Editor in Chief : Assoc. Prof. Dr. Asghar Kamal Publisher : Pascasarjana UIN Siber Syekh Nurjati Cirebon Indexing & Citation : Garuda|GoogleScholar|Crossref|et.al., Language : English Aims and Scope : Islamic economics and business ethics JIESBI: Journal of Islamic Economics and Business Ethics E-ISSN 3047-311X is and P-ISSN 3064-4585 high-quality open access peer-reviewed research journal published by the UIN Cyber ​​Syekh Nurjati Postgraduate, Cirebon, West Java, Indonesia. This journal aims to be a forum for discussion and publication of research results from academics, researchers and practitioners on the topics of Islamic Economics, Sharia Banking, Islamic Finance, and issues within Asian countries. These topics can take the form of observations of contemporary economic phenomena which highlights economic system problems, regulations in Islam, and other topics. This journal regularly publishes articles and research reports three times a year every February, June and October. Indexed by:
publisher: IAIN Syekh Nurjati Cirebon
language: en
publication name: Journal of lslamic Economics and Bussines Ethics
issn: 3064-4585
items: Machine Learning-Based Sentiment Analysis as a Dynamic Early Warning Sign for Financial Distress in Property and Real Estate Companies
items: Halal-Sustainability Business Cognitive Drivers toward Sustainable Competitive Advantage and Performance of Surabaya Halal MSMEs: A PLS-SEM Study
items: Agricultural Financing and Food Security in Sumatra: The Role of Islamic and Conventional Banks in a Dual Banking System
items: Early Detection of Financial Distress in Islamic Banking Using Explainable Artificial Intelligence
items: Islamic Finance and Multicultural Social Justice: A Systematic Review of Rahmatan lil-‘Alamin Principles in Economic Development
items: Policy Hotspots for Islamic Green Finance: Navigating the Global Path to Economic Sustainability
items: Integrating Zakat and Social Work as the Bedrock of Reducing Poverty in Kano State
items: The Influence of Convenience and Security on Brand Loyalty among DANA Syariah Users: The Mediating Role of Brand Trust
items: The Role of Islamic Banks to Support Halal Industry in Indonesia: A Systematic Literature Review
items: Environmental Accounting from an Islamic Quadruple Bottom Line Perspective For Environmental Sustainability
items: Efficiency Evaluation of Islamic Commercial Banks in Indonesia Using Stochastic Frontier Analysis (SFA): A Panel Data Approach
items: Proposed Ownership Structure Design for the Establishment of Waqf Banks in Indonesia
items: Sharia Marketing and Halal Destination Branding: Is Building a Halal Destination Image Effective with Destination Branding Strategies?
items: The Role of Islamic Financial Literacy in Moderating the Relationship between QRIS and Financial Inclusion
items: The Influence of Trust, Peers, and Enjoyment on Online Donations and Continuation Intentions: An Ethical Philanthropic Approach in Islamic Economics
items: Post-Pandemic Transformation of Zakat, Infaq, and Sadaqah (ZIS): Implications for Social Welfare and Economic Recovery
items: Is the Continuity of Islamic Banking Usage Related to Customer Religiosity?
items: The Impact of Artificial Intelligence (AI) Implementation on Islamic Financial Literacy and Global Economic Changes in the Banking World
items: Awareness of Indonesian Migrant Workers in Paying Zakat: Case Study of Borneo Palm Oil Plantations Samudera Langkon, Marudu, Sabah Malaysia
items: Online Customer Contribution Efforts to Increase Customer Satisfaction and Repurchase Intention on Sharia E-Commerce Platforms in Islamic Countries
items: The Influence of Islamic-Based Leadership on Employee Performance: Employee Engagement as A Mediation Variable
items: Transformation of Zakat Into Rotating Business Capital: A Sustainable Economic Empowerment Solution
items: Strengthening Economic and Development Relations Transformation Efforts Towards Golden Indonesia 2045
items: Determinants of Consumer Behavior Transformation from Traditional to Online Shopping: A Case Study of Central Java Community, Indonesia
items: How Do Pancasila Economics and Islamic Economics Relate to Financial Governance Policies in Indonesia?
items: Measuring Investment Fund Health Against Total Asset Growth in Islamic Insurance Companies in Indonesia
items: Environmentally Friendly Waqf Model: A Response to Sustainable Economic Development and the Presence of a Circular Economy
items: Endorsement of Sharī'ah Label Product Influencers Through Social Media Efforts to Increase Interest in the Number of Muslim Consumers
items: Application of the Principle of Ikhtiyat in Murabahah Financing: A Case Study of BMT Malang, East Java
items: Application of Principles and Rules for Non-Cash Transactions Using QRIS Services Maqāṣid Al-Sharīʿah Perspective

Machine Learning-Based Sentiment Analysis as a Dynamic Early Warning Sign for Financial Distress in Property and Real Estate Companies
type: item
description: This study investigates the integration of sentiment analysis from social media and digital news portals as predictors of financial distress in Indonesian property companies. Intensifying industrial competition in 2024, as reported by KPPU data, has led to shrinking market shares and declining profits. Companies failing to compete face heightened risks of financial distress, necessitating more proactive monitoring tools. Unlike traditional models that rely solely on financial ratios, this research innovates by using investor sentiment as an early warning signal, leveraging advanced crawling techniques such as Tweet Harvest and high-performance analysis in RapidMiner. For the research methods, a total of 1,965 tweets and 602 news articles (2020–2023) were extracted and classified using Naïve Bayes. The relationship between sentiment and financial health (Altman Z-Score) was analyzed using ordinal logistic regression. Results showed that both social media sentiment (p=0.029) and news sentiment (p=0.042) significantly influence financial health. Positive sentiment on platform X shows the strongest predictive power (Exp(B)=3.907) in identifying "healthy" companies. In conclusion, investment sentiment is a robust early warning indicator. Positive investor sentiment significantly reduces the likelihood of financial distress, providing a dynamic, real-time monitoring tool for regulators and investors in a competitive market.
subject: Articles
  topic: section
creator: Revina Sofia Septiani
creator: Bayu Tri Cahya
creator: Nor ishah Mohd Ali
rights: Copyright (c) 2026 Revina Sofia Septiani, Bayu Tri Cahya, Nor ishah Mohd Ali (Author) https://creativecommons.org/licenses/by/4.0
date: 2026-06-01
publication date: 2026-06-01
starting page: 124
ending page: 143
doi: 10.24235/jiesbi.v3i2.593

Halal-Sustainability Business Cognitive Drivers toward Sustainable Competitive Advantage and Performance of Surabaya Halal MSMEs: A PLS-SEM Study
type: item
description: This study examines the effect of halal–sustainability cognitive drivers on the competitive advantage and business performance of halal MSMEs in Surabaya. This topic is timely given the rapid growth of the global halal industry and the rise of sustainability in business. However, many halal MSMEs lack cognitive abilities and strategic direction, hindering competitiveness. The research explores how halal and sustainability literacy influence Sustainable Halal Business Model Innovation (SHBMI). It also assesses how SHBMI affects competitive advantage and business performance. This study proposes an integrative model linking these variables, an area largely unexplored, especially in developing countries like Indonesia. A quantitative cross-sectional approach collected data from 250 halal MSMEs and was analyzed using PLS-SEM in SmartPLS 4. Results show that halal and sustainability literacy positively affect SHBMI. SHBMI, in turn, boosts competitive advantage and business performance, directly and indirectly. In conclusion, SHBMI connects cognitive drivers with competitiveness and performance. Strengthening halal and sustainability literacy is key for MSMEs and policymakers to ensure long-term business sustainability.
subject: Articles
  topic: section
subject: Business Model
  topic: keywords
subject: Halal Literacy
  topic: keywords
subject: MSMES Performance
  topic: keywords
subject: Sustainability Literacy
  topic: keywords
subject: Sustainable Competitive
  topic: keywords
creator: Muhammad Alfarizi
creator: Suci Megawati
creator: Ngatindriatun
creator: Mohamed Syazwan AB Talib
rights: Copyright (c) 2026 Muhammad Alfarizi, Suci Megawati, Ngatindriatun (Author) https://creativecommons.org/licenses/by/4.0
date: 2026-06-19
publication date: 2026-06-19
starting page: 168
ending page: 195
doi: 10.24235/jiesbi.v3i2.589

Agricultural Financing and Food Security in Sumatra: The Role of Islamic and Conventional Banks in a Dual Banking System
type: item
description: Food security is a key target of the Sustainable Development Goals (SDGs), aiming to end hunger and promote sustainable agriculture by 2030. This study examines the role of agricultural financing under a dual banking system comprising Islamic and conventional banks in enhancing food security across 10 provinces in Sumatra from 2019 to 2023. Using panel regression analysis, the results indicated that agricultural financing from both Islamic and conventional banks has a significant, positive impact on food security in the region, highlighting the importance of bank-based financing in supporting agricultural productivity and food availability. In addition, agricultural labor, the Human Development Index (HDI), and the Farmer Exchange Rate (FER significantly contribute to improving food security across Sumatra. These findings suggest that expanding and strengthening agricultural financing portfolios within both Islamic and conventional banking systems can effectively support government efforts to enhance national food security and promote sustainable agricultural development. Overall, this study provides policy-relevant evidence on the importance of an inclusive agricultural financing framework in strengthening food security across Sumatra.
subject: Articles
  topic: section
subject: Agricultural Financing
  topic: keywords
subject: Conventional Banks
  topic: keywords
subject: Food Security
  topic: keywords
subject: Sumatra Island
  topic: keywords
creator: Sulaeman
creator: Husnul Mirzal
creator: Rodame Monitorir Napitupulu
creator: Novy Anggraini Sudibyo
rights: Copyright (c) 2026 Sulaeman, Husnul Mirzal, Rodame Monitorir Napitupulu, Novy Anggraini Sudibyo (Author) https://creativecommons.org/licenses/by/4.0
date: 2025-06-23
publication date: 2025-06-23
starting page: 196
ending page: 210
doi: 10.24235/jiesbi.v3i2.585

Early Detection of Financial Distress in Islamic Banking Using Explainable Artificial Intelligence
type: item
description: This paper examines the effectiveness of an explainable machine learning–based Early Warning System (EWS) in detecting financial distress in Islamic banking. Following recurrent episodes of financial instability, regulators and bank managers increasingly require predictive tools that are not only accurate but also interpretable. This study aims to develop a transparent and reliable distress prediction framework for Indonesian Islamic banks. Conventional early warning models can signal which banks are at risk but fail to explain why distress occurs at the variable level, limiting their usefulness for supervisory intervention. This study introduces an integrated Explainable Artificial Intelligence (XAI) framework that combines ensemble tree-based machine learning with SHAP and LIME to uncover non-linear threshold effects in the risk–stability relationship an aspect largely overlooked in prior Islamic banking studies. Using panel data from Indonesian Islamic banks over the period 2014–2024, financial distress is modeled as a binary outcome based on asset quality and profitability thresholds. Predictive performance is evaluated using Random Forest algorithms and benchmarked against conventional logit models, while interpretability is achieved through SHAP and LIME analyses. The results show perfect predictive separation (AUC = 1.00), with operational inefficiency (BOPO), profitability (ROA), and asset quality (NPF Gross) emerging as dominant risk drivers, exhibiting clear non-linear threshold effects. The study concludes that explainable machine learning significantly enhances both predictive accuracy and supervisory interpretability, offering a robust and policy-relevant tool for early intervention in Islamic banking stability.
subject: Articles
  topic: section
subject: Explainable AI Early
  topic: keywords
subject: Financial Distress
  topic: keywords
subject: Islamic Banking
  topic: keywords
subject: Machine Learning
  topic: keywords
subject: Warning System
  topic: keywords
creator: Iman Supriadi
creator: Eva Wany
creator: Nico Irawan
rights: Copyright (c) 2026 Iman Supriadi, Eva Wany, Nico Irawan (Author) https://creativecommons.org/licenses/by/4.0
date: 2026-06-12
publication date: 2026-06-12
starting page: 144
ending page: 167
doi: 10.24235/jiesbi.v3i2.577

Islamic Finance and Multicultural Social Justice: A Systematic Review of Rahmatan lil-‘Alamin Principles in Economic Development
type: item
description: In the context of globalization and multiculturalism, alongside persistent economic inequality and social injustice, this study examines the role of Islamic finance in promoting social justice by integrating Rahmatan lil-‘Alamin values and Maqasid al-Shariah principles into economic development. Despite the growing discourse on ethical and inclusive finance, the practical capacity of Islamic finance to address social justice challenges in multicultural societies remains insufficiently systematized. This study contributes a systematic synthesis that explicitly links Islamic finance instruments, Maqasid al-Shariah, and multicultural social justice within a unified analytical framework. Employing a Systematic Literature Review (SLR), this study reviewed 52 selected articles from an initial corpus of 2,616 Scopus-indexed publications published between 2015 and 2025. The findings revealed that Islamic finance promotes social justice through inclusive mechanisms such as profit-and-loss sharing, zakat, waqf, and sukuk, thereby contributing to reducing inequality, promoting financial inclusion, and empowering communities. The study concludes that Islamic finance is a viable ethical economic system capable of fostering inclusive, socially just development in multicultural societies.
subject: Articles
  topic: section
subject: Economic Development
  topic: keywords
subject: Islamic Finance
  topic: keywords
subject: Maqasid Al-Shariah
  topic: keywords
subject: Social Justice
  topic: keywords
creator: Danial Muhammad Wirdyansyah
creator: Nayla Faiza Putri Alya
creator: Azka Wildan Hakim
creator: Oliver William Knight
rights: Copyright (c) 2026 Danial Muhammad Wirdyansyah, Nayla Faiza Putri Alya , Azka Wildan Hakim, Oliver William Knight (Author) https://creativecommons.org/licenses/by/4.0
date: 2026-06-22
publication date: 2026-06-22
starting page: 211
ending page: 132
doi: 10.24235/jiesbi.v3i2.564

Policy Hotspots for Islamic Green Finance: Navigating the Global Path to Economic Sustainability
type: item
description: This study examines the implementation of Islamic green finance through a policy hotspot framework that emphasizes synergy among regulators, Islamic financial institutions, and business actors within the green financing ecosystem. Using a qualitative library-based method with normative, conceptual, and content analysis approaches, this research analyzed secondary data from reports and studies published by the United Nations Environment Programme (UNEP), IMF, World Bank, ICMA, UNDP, IPCC, EIU, and relevant prior studies from 2018 to 2025. The data focused on the development of green finance and Islamic green finance in Europe, Asia, and selected Islamic countries, including Saudi Arabia, the United Arab Emirates, Indonesia, and Malaysia. Based on post-Paris Agreement developments (2018–2022), this study proposed an Islamic green finance model for house building as a policy hotspot to navigate the global path toward sustainable development with social, economic, and environmental impacts. The proposed model consists of four key pillars: (1) Islamic values and principles, including maqāṣid al-sharīʿah, justice (adl), and balance (mizan); (2) Islamic financial instruments such as green sukuk, productive zakat, cash waqf, murabahah, and green ijarah; (3) regulatory and policy support involving green taxonomy, central banks, financial authorities, and ulema councils; and (4) integrated policy implementation grounded in sharia principles. This model is expected to serve as a reference for Indonesia and other countries in developing inclusive and sustainable Islamic green finance.
subject: Articles
  topic: section
subject: Green Finance
  topic: keywords
subject: Hotspot
  topic: keywords
subject: Policy
  topic: keywords
subject: Sustainability
  topic: keywords
creator: Lia Kian
creator: Sofyan Abas
creator: Rafiqah
creator: Arphandee Hasan
rights: Copyright (c) 2026 Lia Kian, Sofyan Abas, Rafiqah, Arphandee Hasan https://creativecommons.org/licenses/by/4.0
date: 2026-02-28
publication date: 2026-02-28
starting page: 48
ending page: 77
doi: 10.24235/jiesbi.v3i1.527

Integrating Zakat and Social Work as the Bedrock of Reducing Poverty in Kano State
type: item
description: This study examines the integration of zakat and social work as a foundational approach to poverty reduction in Kano State, Nigeria, where more than 60% of the population lives below the poverty line, despite zakat collections estimated at approximately 10 billion annually. Employing a descriptive survey design with stratified random sampling, data were collected from 384 respondents across nine local government areas. The study assessed the effectiveness of zakat distribution, the role of social work interventions, and the potential impact of their integrated application using a validated research instrument (IZSWOPAKS; Cronbach's alpha = 0.81). Data were analyzed using descriptive statistics and Chi-square tests at the p < 0.05 significance level. The findings revealed persistent inefficiencies in zakat distribution, particularly in terms of timeliness, adequacy, and transparency. Respondents overwhelmingly expressed strong support for integrating zakat and social work, citing improved targeting of beneficiaries, more holistic support mechanisms, and greater prospects for sustainable poverty alleviation. The study concludes that integrating zakat's faith-based redistributive framework with professional social work practices offers a more effective and sustainable strategy for poverty reduction in Kano State. This study recommends structured institutional collaboration between zakat management bodies and social work institutions to strengthen and enhance economic empowerment initiatives.
subject: Articles
  topic: section
subject: Islamic Philanthropy
  topic: keywords
subject: Poverty Reduction
  topic: keywords
subject: Social Work Praxis
  topic: keywords
subject: Zakat
  topic: keywords
creator: Muhammad Aliyu Dalhat
rights: Copyright (c) 2026 Muhammad Aliyu Dalhat https://creativecommons.org/licenses/by/4.0
date: 2026-02-28
publication date: 2026-02-28
starting page: 78
ending page: 101
doi: 10.24235/jiesbi.v3i1.514

The Influence of Convenience and Security on Brand Loyalty among DANA Syariah Users: The Mediating Role of Brand Trust
type: item
description: This study examines the influence of convenience and security on brand loyalty, mediated by brand trust, among Muslim college students using the DANA digital wallet. In the Islamic fintech context, where ethical values intersect with technological adoption, trust and loyalty are key to user retention. Although DANA offers strong usability and security, it trails competitors in loyalty, raising the question: how do convenience and security affect brand loyalty through brand trust among users familiar with Islamic economic principles? This research is significant as it connects conventional consumer behavior with Islamic economic perspectives, focusing on a demographic familiar with sharia-based financial principles. Using a quantitative approach, the study analyzed survey data from 100 purposively sampled students at the Faculty of Sharia and Islamic Economics, IAIN Syekh Nurjati Cirebon. All of them are DANA users for over three months. Findings revealed that convenience and security significantly influence brand trust. Brand trust fully mediates the impact of convenience and partially mediates the impact of security on brand loyalty. These results highlight that while functionality is important, trust, especially when aligned with Islamic ethical values, is crucial in fostering loyalty. To improve user retention, digital wallet providers should enhance not only technical performance, but also ethical guarantees rooted in transparency and fairness, as emphasized in Islamic economics.
subject: Articles
  topic: section
creator: Naufal Luthfi Alifa
creator: Diana Djuwita
creator: Abdul Fatakh
creator: Syed Muhammad Abdul Rehman Shah
rights: Copyright (c) 2025 Naufal Luthfi Alifa, Diana Djuwita, Abdul Fatakh, Syed Muhammad Abdul Rehman Shah https://creativecommons.org/licenses/by/4.0
date: 2025-10-21
publication date: 2025-10-21
starting page: 325
ending page: 347
doi: 10.24235/jiesbi.v2i3.462

The Role of Islamic Banks to Support Halal Industry in Indonesia: A Systematic Literature Review
type: item
description: Islamic banking in Indonesia plays a significant role in supporting the development of the halal industry, which encompasses various sectors. The distribution of Islamic bank financing for the productive sector has not been maximized. This research is guided by the approach of using the VOSviewer application to analyze the network of literature relevant to this topic. By using this method, this research can identify trends and relationships across previous studies on Islamic banking and the halal industry, and uncover research gaps that have not been widely explored. This research employed a qualitative approach, using a Systematic Literature Review (SLR), to examine the literature on Islamic banking and the halal industry. Data sources were obtained from the Publish or Perish application to extract bibliometric data, which was then analyzed using VOSviewer. The results showed that Islamic banking plays a strategic role in providing financing that supports the development of the halal industry, including working capital, investment, and related sectors. The policy implications are the importance of strengthening the synergy between the Islamic banking sector and the halal industry, as well as the need for more integrated policies to support the growth of the Islamic-based economy in Indonesia.
subject: Articles
  topic: section
creator: Trimulato
creator: Asyraf Mustamin
creator: Khaliq Ahmad
rights: Copyright (c) 2026 Trimulato, Asyraf Mustamin, Khaliq Ahmad https://creativecommons.org/licenses/by/4.0
date: 2026-02-28
publication date: 2026-02-28
starting page: 25
ending page: 47
doi: 10.24235/jiesbi.v3i1.458

Environmental Accounting from an Islamic Quadruple Bottom Line Perspective For Environmental Sustainability
type: item
description: This study explores the application of environmental accounting within the Islamic Quadruple Bottom Line (QBL) framework to promote environmental sustainability. Utilizing a qualitative case study approach at PT. Sinergi Gula Nusantara, a sugar factory in Indonesia, this research examines how the company identifies, recognizes, measures, presents, and discloses environmental costs. The analysis integrates the QBL dimensions—profit, people, planet, and purpose—with Islamic prophetic values (nubuwwah), namely shidddiq (truthfulness), amanah (trustworthiness), tabligh (advocacy), and fathonah (wisdom). Findings revealead that the company implements various environmental cost management practices, from waste prevention to pollution control. When viewed through the Islamic QBL lens, these practices not only aim for economic efficiency (profit) but also demonstrate commitment to social welfare (people) and ecological preservation (planet). The internalization of nubuwwah values provides a spiritual and ethical foundation (purpose) for corporate environmental responsibility. This study contributes a novel framework for analyzing and implementing environmental accounting in a manner that harmonizes economic objectives with social, environmental, and spiritual goals, offering a culturally relevant model for corporations in Muslim-majority regions.
subject: Articles
  topic: section
creator: Nikmatul Masruroh
creator: Lailatul Farha
creator: Ahmad Fadli
creator: Zhainar Zhabatayeva
rights: Copyright (c) 2025 Nikmatul Masruroh, Lailatul Farha, Ahmad Fadli, Zhainar Zhabatayeva https://creativecommons.org/licenses/by/4.0
date: 2025-10-30
publication date: 2025-10-30
starting page: 348
ending page: 373
doi: 10.24235/jiesbi.v2i3.439

Efficiency Evaluation of Islamic Commercial Banks in Indonesia Using Stochastic Frontier Analysis (SFA): A Panel Data Approach
type: item
description: The efficiency of Islamic commercial banks is a crucial determinant of their competitiveness and long-term sustainability, especially in a dynamic financial environment, such as Indonesia. Despite rapid growth in the Islamic banking sector, questions persist regarding whether these banks are operating at optimal efficiency levels. This study aims to evaluate the technical efficiency of Islamic commercial banks in Indonesia over the period 2015–2024 by employing Stochastic Frontier Analysis (SFA) with a translog production function applied to balanced panel data. The model incorporated key input variables, including total assets, labor expenses, and operational costs, with financing used as a proxy for output performance. Empirical findings revealead that an average technical efficiency score of 0.784, suggesting notable inefficiencies across the sector. Among the sampled institutions, BCA Syariah Bank and Mega Syariah Bank consistently outperform their peers, while Victoria Syariah Bank showed persistently low efficiency due to operational shortcomings. The estimated gamma parameter (0.886) further indicated that inefficiency significantly explains the variation in output among banks, validating the use of the SFA model. The study underscores the urgent need for strategic improvements in operational management, resource allocation, and digital transformation initiatives. In addition, regulatory bodies are encouraged to strengthen institutional frameworks and promote innovation and human capital development.
subject: Articles
  topic: section
subject: Islamic Banking
  topic: keywords
subject: Panel Data
  topic: keywords
subject: Stochastic Frontier Analysis
  topic: keywords
subject: Technical Efficiency
  topic: keywords
creator: Zulfikar Hasan
creator: Mhd Syahrizan
creator: Nor Razinah Binti Mohd. Zain
rights: Copyright (c) 2025 Journal of lslamic Economics and Bussines Ethics https://creativecommons.org/licenses/by/4.0
date: 2025-10-12
publication date: 2025-10-12
starting page: 299
ending page: 324
doi: 10.24235/jiesbi.v2i3.436

Proposed Ownership Structure Design for the Establishment of Waqf Banks in Indonesia
type: item
description: Research on waqf banks in Indonesia and other countries shows a significant gap in ownership structure, where previous studies have not provided an applicable ownership design suited for Indonesia's decentralized character. The study is crucial because proper ownership governance can enhance accountability, mitigate conflicts of interest, and improve the economic sustainability of Islamic financial institutions. The research aims to propose an ownership structure of waqf banks in Indonesia. The method employed was qualitative, utilizing a Systematic Literature Review in Evidence-Based Software Engineering. The review covering publications from 2015 – 2024, encompasses 18 articles indexed by Scopus, ERA, WoS, MyCite, Google Scholar, and SINTA, with a process of identification, screening, and thematic analysis. The research findings suggest that establishing a waqf bank in Indonesia necessitates a hybrid ownership structure, backed by clear standard operating procedures, robust regulations, and enhanced community literacy. The implications of this study highlight the need for regulatory revisions and enhanced nāẓir training, while the limitations lie in the lack of empirical validation. Further research is recommended to test the model empirically and analyze the macroeconomic impact of waqf banks on financial inclusion and poverty alleviation.
subject: Articles
  topic: section
subject: Islamic social finance
  topic: keywords
subject: Ownership structure
  topic: keywords
subject: Waqf bank Indonesia
  topic: keywords
creator: Iwan Agustiawan Fuad
creator: Mohammadtahir Cheumar
creator: Yusuf Haji Othman
creator: Umar Akem
rights: Copyright (c) 2025 Iwan Agustiawan Fuad, Mohammadtahir Cheumar, Yusuf Haji Othman, Umar Akem https://creativecommons.org/licenses/by/4.0
date: 2025-06-12
publication date: 2025-06-12
starting page: 227
ending page: 251
doi: 10.24235/jiesbi.v2i2.428

Sharia Marketing and Halal Destination Branding: Is Building a Halal Destination Image Effective with Destination Branding Strategies?
type: item
description: East Java, a popular tourist destination in Indonesia, is committed to developing culinary tourism through the concept of a halal culinary area. This initiative also supports the acceleration of Micro, Small, and Medium Enterprise (MSME) product development. Furthermore, creating a positive perception and image of halal products through halal branding is crucial in supporting the halalization program for MSME products. Furthermore, ensuring that products are marketed according to Sharia principles is a key factor in building the halal industry. Of the various studies on product halalness, research on the image of halal products with halal branding that focuses on halal culinary areas has never been conducted. This study aims to determine the effect of halal branding on the image of halal destinations in the East Java Halal Culinary Area and its compliance with Sharia marketing principles. This study uses a quantitative method by examining the influence of independent variables on the dependent variable through a t-test using SPSS. The population in this study was buyers in the East Java Halal Culinary Area, and a sample of 110 people was selected using an accidental sampling technique. From a Sharia marketing perspective, the implemented branding strategy is in accordance with Sharia marketing principles. However, the results of this study indicate that the halal branding strategy in the East Java Halal Culinary Region does not influence the halal image or is unable to build the image of a halal destination in the region. The main finding is that while the branding strategy aligns with Sharia marketing principles, it does not significantly contribute to shaping the destination's halal image.
subject: Articles
  topic: section
subject: Halal culinary
  topic: keywords
subject: Halal branding
  topic: keywords
subject: Halal destination
  topic: keywords
creator: Dhiya'u Shidiqy
creator: Wedyan Fayez
creator: Muhammad Isyak Putra Siregar
rights: Copyright (c) 2025 Dhiya'u Shidiqy, Wedyan Fayez, Muhammad Isyak Putra Siregar https://creativecommons.org/licenses/by/4.0
date: 2025-10-01
publication date: 2025-10-01
starting page: 275
ending page: 298
doi: 10.24235/jiesbi.v2i3.419

The Role of Islamic Financial Literacy in Moderating the Relationship between QRIS and Financial Inclusion
type: item
description: This study investigates the relationship between the effectiveness and efficiency of the Quick Response Code Indonesian Standard (QRIS) and financial inclusion, with Islamic financial literacy serving as a moderating variable. Employing a quantitative approach, data were collected from university students and analyzed using moderated regression analysis to evaluate both direct and interaction effects. The findings indicated that QRIS effectiveness and efficiency exert a positive and significant influence on financial inclusion. Furthermore, Islamic financial literacy enhances the relationship between QRIS utilization and financial inclusion, suggesting that higher literacy levels amplify the inclusive benefits of integrating digital payment systems within an Islamic financial framework. These results highlight the importance of integrating digital payment innovation with Islamic financial literacy programs to promote inclusive and sustainable financial ecosystems. Additionally, Islamic financial literacy moderates the relationship between QRIS effectiveness and financial inclusion, but does not influence the association between QRIS efficiency and financial inclusion. Overall, students' understanding of Islamic finance strengthens the impact of QRIS effectiveness in promoting financial inclusion.
subject: Articles
  topic: section
subject: Islamic Financial
  topic: keywords
subject: Literacy Digital Payment
  topic: keywords
subject: QRIS
  topic: keywords
creator: Abdillah Dwi Prasetyo
creator: Muhammad Khoirul Fikri
creator: Shaherbano Ijaz
rights: Copyright (c) 2026 Abdillah Dwi Prasetyo, Muhammad Khoirul Fikri, Shaherbano Ijaz https://creativecommons.org/licenses/by/4.0
date: 2026-02-28
publication date: 2026-02-28
starting page: 102
ending page: 123
doi: 10.24235/jiesbi.v3i1.402

The Influence of Trust, Peers, and Enjoyment on Online Donations and Continuation Intentions: An Ethical Philanthropic Approach in Islamic Economics
type: item
description: Indonesia was named the most generous country from 2018 to 2024. A significant case of donation misappropriation by an agency in early July 2022 prompted varied societal reactions. This study examines the effects of trust in online donation platforms, peer influence, and enjoyment in helping on online donation and forwarding intentions, as well as the impact of these intentions on behavioral frequency. Data were collected via a survey of 106 Indonesian citizens who had received information about online donations in the past year. The analysis employed Structural Equation Modeling-Partial Least Squares (SEM-PLS). Results indicate that trust and peer influence have a significant and positive impact on forwarding intention but do not significantly affect online donation intention. Enjoyment in helping significantly impacts both online donation and forwarding intentions. Furthermore, online donation intention significantly affects donation frequency, and forwarding intention significantly impacts forwarding frequency. This study provides managerial implications for online donation platforms, suggesting they involve donors in the distribution process to create a positive impression.
subject: Articles
  topic: section
subject: Continuation Intentions
  topic: keywords
subject: Islamic Economics Philanthropy
  topic: keywords
subject: Peer Influence
  topic: keywords
subject: Trust
  topic: keywords
subject: Online Donations
  topic: keywords
creator: Cahyaning Budi Utami
creator: Slamet
creator: Teguh Ashari
creator: Dedi Kurniawan
rights: Copyright (c) 2025 Cahyaning Budi Utami, Slamet, Teguh Ashari, Dedi Kurniawan https://creativecommons.org/licenses/by/4.0
date: 2025-10-28
publication date: 2025-10-28
starting page: 252
ending page: 274
doi: 10.24235/jiesbi.v2i3.399

Post-Pandemic Transformation of Zakat, Infaq, and Sadaqah (ZIS): Implications for Social Welfare and Economic Recovery
type: item
description: This study examines how the collection and distribution of Zakat, Infaq, and Sadaqah (ZIS) transformed during the COVID-19 pandemic. It provides forecasts for 2024, with a particular focus on their implications for social welfare and economic recovery in the post-pandemic era. The study utilized secondary data obtained from BAZNAS monthly reports covering January 2020 to December 2023, a period that captures the initial peak of the COVID-19 crisis and the subsequent recovery phase. Due to the non-normal distribution of the data, the Wilcoxon signed-rank test was employed to assess differences in ZIS collection and distribution between the peak and recovery periods. Additionally, Seasonal Autoregressive Integrated Moving Average (SARIMA) models were applied to forecast future trends. The findings revealed statistically significant differences between the peak and recovery periods in both ZIS collection and distribution, indicating a structural shift in philanthropic behavior and institutional responsiveness after the pandemic. The SARIMA results demonstrated strong capability in capturing seasonal patterns and long-term trends, particularly the pronounced increase in ZIS activities during Ramadan. While the SARIMA model provided a robust foundation for understanding seasonal dynamics and short-term trends, incorporating additional data or hybrid forecasting approaches may enhance predictive accuracy.
subject: Articles
  topic: section
subject: Economic Recovery
  topic: keywords
subject: Islamic Philanthropy
  topic: keywords
subject: Post-Pandemic
  topic: keywords
subject: Transformation
  topic: keywords
subject: Social Welfare
  topic: keywords
creator: M Zaky Mubarak Lubis
creator: Gusti Dirga Alfakhry Putra
creator: Hidayatul Husna
creator: Mansha Rafiq
rights: Copyright (c) 2025 M Zaky Mubarak Lubis, Gusti Dirga Alfakhry Putra, Hidayatul Husna, Mansha Rafiq https://creativecommons.org/licenses/by/4.0
date: 2026-02-28
publication date: 2026-02-28
starting page: 1
ending page: 24
doi: 10.24235/jiesbi.v3i1.397

Is the Continuity of Islamic Banking Usage Related to Customer Religiosity?
type: item
description: Performance is an indicator of the results of achieving a person's work targets in carrying out a job as a whole during a certain period in carrying out tasks that are compared with various possibilities, such as work result standards, targets or objectives or criteria that have been determined in advance and have been agreed upon together. This study aims to reconstruct the component of religiosity as one of the main factors for Muslims in muamalah, while trying to analyze the relationship between the religiosity of Islamic banking customers and the intention to continue using Islamic banking. This happens because of the tight competition in the Islamic financial industry in Indonesia, but the Islamic banking industry still has a small percentage of loyal customers, thus contributing to a low market share of Islamic banking in Indonesia. Therefore, banks need to develop strategies, such as maximizing the religiosity factor to increase the intention to continue using Islamic banking. This research was quantitative with a survey method, using a structural equation model (SEM-AMOS) to achieve research objectives. Furthermore, this study selected Islamic banking customers as samples, reaching 530 samples through convenience sampling techniques. The results demonstrated the development of novel indicator to measure individual religiosity related to economic activities. Religiosity is self-awareness of the importance of religion that shows an attitude of surrender to God. This means that a person's religiosity shows more about the processes of internalizing religious values ​​, which then unite within the individual to form daily behavior. Furthermore, this research model also reports that religiosity can significantly increase the intention to continue using Islamic banking.
subject: Articles
  topic: section
subject: Continuance Intention
  topic: keywords
subject: Islamic Banking
  topic: keywords
subject: Customers
  topic: keywords
subject: Religiosity
  topic: keywords
creator: Rahmat Dahlan
creator: Eko Susanto
creator: Ahmad Fauzi
creator: Muhamad Fauzi
rights: Copyright (c) 2025 Rahmat Dahlan, Eko Susanto, Ahmad Fauzi, Muhamad Fauzi https://creativecommons.org/licenses/by/4.0
date: 2025-06-02
publication date: 2025-06-02
starting page: 170
ending page: 197
doi: 10.24235/jiesbi.v2i2.186

The Impact of Artificial Intelligence (AI) Implementation on Islamic Financial Literacy and Global Economic Changes in the Banking World
type: item
description: Currently, the banking sector is facing a transformation towards the digital era in response to the development of fintech and the digital technology revolution. This transformation has brought banks into the era of digital banking services that aim to spread financial inclusion and provide access to the community without time and place constraints. Advances in information and communication technology have brought changes to various industries, including the Islamic finance sector. The development of artificial intelligence (AI) is crucial in the digitalization of Islamic money and offers opportunities to increase efficiency, personalize services, and reduce risks. This study aims to analyze the impact of AI implementation on financial literacy and global economic changes in the banking world by emphasizing effectiveness, efficiency, and compliance with Sharia principles. The research method used is qualitative literature research. Data comes from various sources, including relevant research papers, journals, and books. The findings of this study indicate that the application of AI in Islamic finance can improve operational efficiency, make financial services more accessible, and enable data analysis in a way that facilitates the development of strategic plans. However, the most important thing is to ensure that AI development complies with Sharia principles, including identifying riba, gharar, and non-halal transactions. The findings of this study highlight the importance of clear regulations to support the use of AI in Islamic finance, even if it is based on Islamic law. Through careful and innovative thinking, AI can serve as a strategic tool to enhance the Islamic banking sector in Indonesia, promote financial inclusion, and foster the country's economic growth.
subject: Articles
  topic: section
subject: Artificial Intelligence (AI)
  topic: keywords
subject: Islamic Financial Literacy
  topic: keywords
subject: Global Economic
  topic: keywords
creator: KMT Lasmiatun
creator: Nikzad Manteghi
rights: Copyright (c) 2025 KMT Lasmiatun, Nikzad Manteghi https://creativecommons.org/licenses/by/4.0
date: 2025-02-17
publication date: 2025-02-17
starting page: 23
ending page: 43
doi: 10.24235/jiesbi.v2i1.253

Awareness of Indonesian Migrant Workers in Paying Zakat: Case Study of Borneo Palm Oil Plantations Samudera Langkon, Marudu, Sabah Malaysia
type: item
description: Zakat is a fundamental obligation for Muslims, as one of the five pillars of Islam. Therefore, every Muslim must pay zakat annually during the holy month of Ramadan. This research aims to explore the awareness of Indonesian migrant workers regarding the payment of zakat. This study primarily examines the extent of awareness among migrant workers regarding their zakat obligations. Using a qualitative approach, data was collected through in-depth interviews and participatory observations with migrant workers across various industries in Malaysia. The findings reveal that most respondents exhibit a strong awareness of their zakat obligations as a religious duty. Factors such as religious education, personal experiences, and the social environment at the workplace significantly influence the level of awareness. The implications of these findings offer insights for relevant institutions to develop educational and promotional programs aimed at enhancing awareness and compliance with zakat payments among Indonesian migrant workers. This study concludes that religious education, personal experiences, and the social environment at the workplace play a crucial role in shaping migrant workers' awareness of their zakat obligations, and understanding these factors can help design more effective interventions.
subject: Articles
  topic: section
subject: Awareness Obligation
  topic: keywords
subject: Migrant Workers
  topic: keywords
subject: Zakat
  topic: keywords
subject: Sabah Malaysia
  topic: keywords
creator: M Fuad Hadziq
creator: Nargis Ali
rights: Copyright (c) 2025 M Fuad Hadziq, Nargis Ali https://creativecommons.org/licenses/by/4.0
date: 2025-02-17
publication date: 2025-02-17
starting page: 44
ending page: 67
doi: 10.24235/jiesbi.v2i1.194

Online Customer Contribution Efforts to Increase Customer Satisfaction and Repurchase Intention on Sharia E-Commerce Platforms in Islamic Countries
type: item
description: In the ever-evolving digital era, Sharia e-commerce platforms have become an integral part of Muslim consumers' lives, offering services that prioritize Sharia principles such as contract transparency, product halal compliance, and transactional justice. This study focuses on Sharia e-commerce platforms to investigate the role of Online Customer Experience (OCE) in enhancing Customer Satisfaction and Repurchase Intention. An explanatory research approach was employed with quantitative methods, where data were collected through online questionnaires from 136 active Sharia e-commerce users. Data analysis was conducted using Path Analysis to measure both direct and indirect effects among variables. The study examines OCE as the independent variable, Customer Satisfaction as the intervening variable, and Repurchase Intention as the dependent variable. The findings reveal that OCE elements such as informativeness, entertainment, personalization, social presence, and adherence to Sharia principles significantly influence Customer Satisfaction. Moreover, Customer Satisfaction acts as a mediator affecting Repurchase Intention, where a positive customer experience strengthens loyalty and repurchase intentions. The study emphasizes the importance of Sharia-based customer experience strategies to maintain competitiveness in the e-commerce market. OCE elements integrated with Islamic values have proven to create more satisfying and sustainable customer experiences. These findings provide valuable insights for business practitioners and Sharia e-commerce platform developers in designing services that cater to Muslim consumer needs. By optimizing OCE elements, Sharia e-commerce platforms can reinforce their position as competitive and value-added shopping solutions within the increasingly dynamic digital ecosystem.
subject: Articles
  topic: section
subject: Customer Satisfaction; Online Customer Experience; Repurchase Intention; Sharia e-commerce
  topic: keywords
creator: Galih Ginanjar Saputra
creator: Fadhilah
creator: Halimi Husayn
rights: Copyright (c) 2024 Galih Ginanjar Saputra, Fadhilah, Halimi Husayn https://creativecommons.org/licenses/by/4.0
date: 2024-11-02
publication date: 2024-11-02
starting page: 149
ending page: 162
doi: 10.24235/jiesbi.v1i3.238

The Influence of Islamic-Based Leadership on Employee Performance: Employee Engagement as A Mediation Variable
type: item
description: Performance is an important factor in the success of an organization or company. Performance can be defined as the work results of individuals in terms of quality and quantity, achieved by an employee in carrying out their duties and fulfilling responsibilities within a specific period. Performance refers to the work results achieved by an individual or group within an organization, in accordance with their respective authorities and responsibilities, to attain organizational goals legally, without violating laws, and adhering to norms and ethics. Leadership plays an important role in improving employee performance in a company. This is exemplified by the Islamic leadership style, rooted in the era of Prophet Muhammad SAW, which is characterized by four key traits: Shidiq (truthfulness), Amanah (trustworthiness), Fatonah (wisdom), and Tabligh (conveying truth). This study aims to test the direct and indirect influence of Islamic leadership traits on employee performance with employee engagement as a mediating variable. This study uses an explanatory research method with primary data. Research data were collected through an online questionnaire, namely Google Forms. The results of the study showed that all Islamic leadership traits (Shidiq, Amanah, Fatonah, and Tabligh) have a direct positive effect on employee performance. This means that when leaders can apply Islamic leadership traits well, employee performance will also be good in their work. However, employee engagement as a mediating variable is only able to mediate one of the leadership traits on employee performance, namely, Shidiq.
subject: Articles
  topic: section
subject: Employee Engagement
  topic: keywords
subject: Employee Performance
  topic: keywords
subject: Islamic Leadership
  topic: keywords
creator: Nada Arina Romli
creator: Almirin Syićraz
rights: Copyright (c) 2025 Arina Romli, Almirin Syićraz https://creativecommons.org/licenses/by/4.0
date: 2025-06-02
publication date: 2025-06-02
starting page: 121
ending page: 143
doi: 10.24235/jiesbi.v2i2.235

Transformation of Zakat Into Rotating Business Capital: A Sustainable Economic Empowerment Solution
type: item
description: Zakat one of the important pillars of Islam, has great potential to empower the economic status of Muslims. Traditional distribution of zakat often fails to produce long-term economic improvement for its recipients. The current zakat problems are very complex, starting from the fact that there are still some people who do not want to pay zakat, the distribution of zakat that has not been arranged properly to the problem of fiqh regarding the development and ijtihad for productive zakat models. Productive zakat is making zakat money not only consumptive in the sense that it is immediately consumed, but zakat assets are used for business capital to eradicate poverty for zakat recipients. With this business capital, it is hoped that zakat recipients will one day become muzakki. This study aims to investigate the transformation of zakat into revolving business capital and its impact on the economic empowerment and self-reliance of mustahik (zakat recipients). The hypothesis tested is that zakat, when used as revolving business capital, can significantly improve the economic welfare of mustahik. This research uses a qualitative approach with a literature review methodology. Data was sourced from various secondary materials including scientific articles, institutional reports, and case studies of successful zakat programs. Data analysis involved thematic analysis to identify key factors that contribute to the success and challenges of zakat-based revolving business capital programs. The findings show that a well-managed revolving business capital program significantly improves the income and welfare of mustahik. Key success factors include ongoing business training and support, continuous monitoring and evaluation, and transparent fund management. Partnerships with government entities, the private sector, and local communities also enhance program effectiveness. Statistical analysis shows a positive correlation between participation in the program and increased economic i…
subject: Articles
  topic: section
subject: Zakat, Revolving Business Capital, Economic Empowerment, Sustainable Development
  topic: keywords
creator: Hana Mabrukah
creator: Anwar Ibrahim Sadiq
rights: Copyright (c) 2024 Hana Mabrukah, Anwar Ibrahim Sadiq https://creativecommons.org/licenses/by/4.0
date: 2024-11-07
publication date: 2024-11-07
starting page: 163
ending page: 175
doi: 10.24235/jiesbi.v1i3.212

Strengthening Economic and Development Relations Transformation Efforts Towards Golden Indonesia 2045
type: item
description: Indonesia is a country that has a big vision and mission to transform into a developed country both socially, economically, in governance, legally, and in development. As a country that has a big vision and mission, of course, Indonesia needs to build and transform to realize the country's expected future. To achieve this vision and mission, Indonesia needs special attention in various aspects to achieve the country's goals. Development and the economy are two concepts that are interrelated and inseparable. The economy functions as the main foundation of development, namely a means to achieve economic goals such as improving people's welfare. Stable and inclusive economic growth that can raise living standards and generate high-quality jobs must go hand in hand with this development. This research is qualitative, so this study provides an overview of the research topic. The purpose is to provide an overview and analysis of Indonesia's economic and development trends. This article uses secondary data sources for its data collection, using a literature study approach, information on the development economy, especially in Indonesia, is investigated. All information collected from various sources is checked and evaluated about the current state of Indonesia's development and economy. Social development must not only improve the living standards of everyone in society but also provide solutions to problems resulting from development that are not implemented properly. The goal of social development is not limited to the population as a whole, but rather how the population can develop or increase its capacity to meet its needs, goals, and desires. So to face challenges and take advantage of opportunities in the development economy, collaboration between the government, the private sector, and civil society is needed. Investments in education, infrastructure, and technological innovation are key to achieving calculated and sustainable economic growth.
subject: Articles
  topic: section
subject: Economic; Development; Transformation Efforts Towards; Golden Indonesia 2045
  topic: keywords
creator: Intan Zahira
creator: M. Zidny Nafi' Hasbi
creator: Shikur Faris
rights: Copyright (c) 2024 Intan Zahira, M. Zidny Nafi' Hasbi, Shikur Faris https://creativecommons.org/licenses/by/4.0
date: 2024-11-16
publication date: 2024-11-16
starting page: 125
ending page: 135
doi: 10.24235/jiesbi.v1i3.163

Determinants of Consumer Behavior Transformation from Traditional to Online Shopping: A Case Study of Central Java Community, Indonesia
type: item
description: Technological advancements and the transition from traditional to online shopping have had a significant impact on consumer behavior. The availability of various online marketplace platforms has changed shopping habits, modified purchasing trends, and shaped overall consumption decisions. This study attempts to examine the influence of income, Islamic financial literacy, and social media on consumer behavior among individuals in Central Java, Indonesia. This study used a quantitative method. Data were collected through questionnaires from the Central Java population. A research sample comprising 458 respondents was obtained using simple random sampling. The independent variables include income, Islamic financial literacy, and social media, while the dependent variable is consumer behavior. Data were analyzed using SmartPLS software, involving a structural model (inner model) and a measurement model (outer model). This study revealed that Islamic financial literacy and social media have a significant impact on consumer behavior, while income does not show a significant effect. The coefficient of determination (Adjusted R Square) was 0.702 (70%), which indicates that income, Islamic financial literacy, and social media collectively influence 70% of consumer behavior with the remaining 30% attributable to unexplored factors. The transformation of the digital economy has brought multidimensional impacts on consumption behavior, from psychological to economic aspects. Thus, understanding these changes is important for academics, business practitioners, and policymakers in designing adaptive strategies for the digital ecosystem.
subject: Articles
  topic: section
subject: Consumer Behavior
  topic: keywords
subject: Central Java Community
  topic: keywords
subject: Online Shopping
  topic: keywords
subject: Traditional Shopping
  topic: keywords
creator: Joko Suhariyanto
creator: Farid A Rizky
creator: Elvira Rahmaniar Rahmi
rights: Copyright (c) 2025 Joko Suhariyanto, Farid A Rizky, Elvira Rahmaniar Rahmi https://creativecommons.org/licenses/by/4.0
date: 2025-06-02
publication date: 2025-06-02
starting page: 198
ending page: 226
doi: 10.24235/jiesbi.v2i2.201

How Do Pancasila Economics and Islamic Economics Relate to Financial Governance Policies in Indonesia?
type: item
description: Pancasila economics is an institutional economic system that upholds the core values of Pancasila as Indonesia’s state ideology. Its five principles—ethics, humanity, nationalism, democracy, and social justice—serve as fundamental references for economic models in Indonesia. Meanwhile, the Islamic economic system is based on the teachings and values of Islam, derived from the Qur'an, As-Sunnah, ijma, and qiyas. This study aims to analyze the synchronization between Pancasila economics and Islamic economics in relation to various government policies, particularly in response to the challenges posed by global capital and liberalism. This research employs a qualitative approach (literature review) by analyzing relevant theories from books, journals, and online media. The Islamic economic system, rooted in the Qur'an and As-Sunnah, serves as a religious framework for Muslim communities, while Pancasila economics is the officially recognized economic system of Indonesia, founded on the principles of the state ideology. Both economic models share a strong social and moral vision, emphasizing economic equality and social justice. The findings reveal that when juxtaposed, Islamic economics and Pancasila economics converge in their ultimate goal of achieving welfare and justice for all members of society.
subject: Articles
  topic: section
subject: Pancasila Economy, Islamic Economics, Financial Governance Policy
  topic: keywords
creator: Syarah Siti Supriyanti
creator: Dwi Nofiana Gita Pertiwi
rights: Copyright (c) 2025 Syarah Siti Supriyanti, Dwi Nofiana Gita Pertiwi https://creativecommons.org/licenses/by/4.0
date: 2025-02-17
publication date: 2025-02-17
starting page: 1
ending page: 22
doi: 10.24235/jiesbi.v2i1.198

Measuring Investment Fund Health Against Total Asset Growth in Islamic Insurance Companies in Indonesia
type: item
description: The mechanism of fund management in sharia insurance includes fund distribution allocation, namely tabarru' (donation) funds and saving funds, which are integral parts in carrying out sharia insurance management. Regulation No. 11/PMK.010/2011 concerning the finncial health of Sharia insurance companies outlines of the health of Sharia insurance companies includes two things, namely the financial health of tabarru' funds and company funds, with distinct solvency limits for each. The solvency limit for tabarru’ funds is 30%, while for company funds, it is 70%. The purpose of this study is to examine the impact of the allocation of Islamic insurance fund assets, including mudharabah (profit-sharing) deposits, government sukuk (Islamic bonds), corporate sukuk, and Islamic mutual funds, on the asset growth of Islamic insurance funds in Indonesia. This study used quantitative methodology by utilizing Vector Autoregression (VAR) and Ordinary Least Squares (OLS) to analyze a data series covering the period from January 2017 to April 2025. The findings of the ordinary least squares (OLS) analysis indicated that the proportion of funds invested in Islamic mutual funds, government sukuk, corporate sukuk, and mudharabah deposits has a substantial and positive impact on the growth of Islamic insurance assets. In addition, the findings from VAR indicated that a positive and statistically significant short-term relationship exists exclusively with government sukuk and its impact on the growth of Islamic insurance assets. To optimize the allocation of investment funds for investors and stakeholders, government and corporate sukuk are viable considerations, supported by impulse response function and variance decomposition analyses.
subject: Articles
  topic: section
subject: Investment Fund
  topic: keywords
subject: slamic Insurance Company
  topic: keywords
subject: Financial Health
  topic: keywords
subject: Total Asset Growth
  topic: keywords
creator: Ramadhani Irma Tripalupi
creator: Siti Asma’ Binti Mohd Rosdi
rights: Copyright (c) 2025 Ramadhani Irma Tripalupi, Siti Asma’ Binti Mohd Rosdi https://creativecommons.org/licenses/by/4.0
date: 2025-06-02
publication date: 2025-06-02
starting page: 144
ending page: 169
doi: 10.24235/jiesbi.v2i2.182

Environmentally Friendly Waqf Model: A Response to Sustainable Economic Development and the Presence of a Circular Economy
type: item
description: The excessive utilization of natural resources and the accumulation of waste pose serious challenges to sustainable development. The circular economy has emerged as a viable solution by emphasizing the reuse and recycling of materials. This study explores the significance of sustainable development and the necessity of a circular economy in achieving it. Effective waste management plays a crucial role in environmental protection and enhances living standards. In this context, waqf can contribute to environmental sustainability through the concept of green waqf. This study employed the literature review method to identify, review, evaluate, and synthesize relevant research on the phenomenon of interest and related research questions. By implementing the literature review approach, journal articles were systematically reviewed, and each process followed predetermined steps and procedures. The findings revealed that the proposed green waqf model consisted of five stages. First, the waqif transfers cash waqf to a waqf institution (nazir). Second, the nazir allocates waqf funds to establish a training center equipped with waste management technology to enhance human resource development. Third, the nazir, through the training center, provides skill development programs to empower beneficiaries (mauquf 'alaih). Fourth, beneficiaries are expected to secure employment and increase their productivity after completing the training. Fifth, continuous monitoring and evaluation must be conducted to ensure ongoing improvements. Ultimately, the proposed green waqf model is expected to contribute to both economic and environmental sustainability.
subject: Articles
  topic: section
subject: Waqf Model
  topic: keywords
subject: Circular Economy
  topic: keywords
subject: Environmental Economy
  topic: keywords
subject: Sustainable Economic Development
  topic: keywords
creator: Swadia Gandhi Mahardika
creator: Afifa Tanweer
rights: Copyright (c) 2025 Swadia Gandhi Mahardika, Afifa Tanweer https://creativecommons.org/licenses/by/4.0
date: 2025-02-17
publication date: 2025-02-17
starting page: 68
ending page: 93
doi: 10.24235/jiesbi.v2i1.180

Endorsement of Sharī'ah Label Product Influencers Through Social Media Efforts to Increase Interest in the Number of Muslim Consumers
type: item
description: The ease of people accessing information about a product has given rise to a new shopping system that can be done online. One of the social media applications that is currently often used is the TikTok application. It can be proven that Tiktok is the No. 1 application that is often downloaded in Indonesia according to Data Reports. The TikTok application algorithm is different from other applications, making it easier for people to go viral and be recognized by many people. Thus, the term influencer emerged as someone who can influence others. This study aims to examine and analyze the endorsement of Muslim influencers of fashion products through TikTok Shop social media to increase consumer interest. This study also explored how support affects economic outcomes for supporters and evaluates the impact of influencer marketing and content creators. This study used a library research method coupled with a data analysis framework rooted in Islamic economics and supported by inductive reasoning and qualitative data. The research findings revealed that influencers and content creators with significant followers have been shown to increase product sales significantly. The key factor for the success of social media promotion lies in implementing effective advertising strategies and collaborating with influential figures or media that resonate with target consumers. The existence of influencer support for a product significantly affects the number and interest of consumers so that it can improve the quality of marketing and increase the reach of a wide market.
subject: Articles
  topic: section
subject: Influencer Endorsement
  topic: keywords
subject: Sharia Label Products
  topic: keywords
subject: Social Media
  topic: keywords
subject: Muslim Consumers
  topic: keywords
creator: Achmad Budi Susetyo
creator: Md. Meraj Hasan
rights: Copyright (c) 2025 Achmad Budi Susetyo, Md. Meraj Hasan https://creativecommons.org/licenses/by/4.0
date: 2025-02-17
publication date: 2025-02-17
starting page: 94
ending page: 120
doi: 10.24235/jiesbi.v2i1.178

Application of the Principle of Ikhtiyat in Murabahah Financing: A Case Study of BMT Malang, East Java
type: item
description: The principle of effort is one of the strong roots of banking, a principle which states that in carrying out its functions and business activities, it is mandatory to be careful to protect public funds entrusted to it. There are at least 5 principles of the ikhtiyat role, in assessing prospective debitors, the bank must be guided by factors, such as character, capacity, capital, collateral, and economic conditions of economy. This research is qualitative. Data collection techniques are carried out by observation, interviews, and documentation study. The phenomenological approach is used to describe the deep understanding in this study. The findings of this study indicate that in general, the application of the principle of effort in mudharabah financing uses the 5c and 1i feasibility analysis (character, capacity, capital, condition, collateral, and insurance) by prioritizing the aspects of character analysis character, capacity ability and collateral which is assessed through the business income earned every month and the eligibility of the collateral given by the prospective member. The application of the ikhtiyat principle is one of the ways BMTs have positive and negative impacts in providing financing at BMT Malang, East Java so that BMTs are not allowed to only demand the achievement of targets without enforcing the principle of ikhtiyat.
subject: Articles
  topic: section
subject: Ikhtiyat Principles; Prudential; Murabahah Financing
  topic: keywords
creator: Irfan Hilmi
creator: Abdel Naffati
rights: Copyright (c) 2024 Irfan Hilmi, Abdel Naffati https://creativecommons.org/licenses/by/4.0
date: 2024-11-27
publication date: 2024-11-27
starting page: 136
ending page: 148
doi: 10.24235/jiesbi.v1i3.167

Application of Principles and Rules for Non-Cash Transactions Using QRIS Services Maqāṣid Al-Sharīʿah Perspective
type: item
description: Widespread digital technology and financial technology (fintech) have made non-cash transactions increasingly popular and accepted by society. QRIS (Quick Response Code Indonesian Standard) is a form of non-cash transaction that is expected to increase efficiency, effectiveness, and security in terms of transactions. The research aims to analyze the principles and rules of non-cash transactions using QRIS Services from an Islamic economic perspective so that people can experience non-cash transactions safely while integrating with the ethical values of the Islamic economic system. The research method used is a type of qualitative research with a descriptive analysis approach in the form of a literature study sourced from primary and secondary book sources, consisting of a collection of primary theories and books, journal articles, and various kinds of relevant library materials. The results of this research explain that non-cash transactions using QRIS services are generally by Islamic economic principles, such as fairness, and consent, not containing elements of usury, gharar and maysir, transaction transparency, and halal. However, it should be noted that the use of QRIS must be done wisely and by Sharia corridors.
subject: Articles
  topic: section
subject: Qris, Rules, Principles, Non-Cash, Maqāṣid Al-Sharīʿah
  topic: keywords
creator: Nurul Rahmah Kusuma
creator: Hanif Nuryana
rights: Copyright (c) 2024 Nurul Rahmah Kusuma, Hanif Nuryana https://creativecommons.org/licenses/by/4.0
date: 2024-12-12
publication date: 2024-12-12
starting page: 176
ending page: 188
doi: 10.24235/jiesbi.v1i3.157