Islamic Economics Journal

Cash Waqf Literacy in Indonesia: Literature Studies and Perspectives of Islamic Economics Academics

Nurul Jannah — 2023-06-01

Cash waqf in Indonesia has become a topic of discussion in the world of scientific articles, both national and international scientific articles. In addition, cash waqf has also been regulated in law but all of this does not make the literacy of Muslims in Indonesia increase related to cash waqf, this can be seen from the waqf funds collected are not optimal if look at the condition of Muslims in Indonesia. This study uses a qualitative approach to content analysis by using the FGD method as a complement to this research. The results in this study, there is still a lack of public literacy related to cash waqf by looking at several previous studies so that academics provide several strategies and inputs to improve public literacy related to cash waqf, so that people have awareness in cash waqf

Analisis Meta: Determinan Minat Muzakki Membayar Zakat ke Organisasi Pengelola Zakat

Windi Wulandari Fitriani — 2023-07-10

This study aims to determine the factors that influence the interest of muzakki to pay zakat in the Indonesian Zakat Management Organization (Organisasi Pengelola Zakat (OPZ)). This study uses a meta-analysis research method. In this study, the dependent variable is interest in paying zakat in OPZ, and the independent variables are income, religiosity, knowledge of zakat, transparency, service quality, and trust in muzakki. This study will re-test the independent variables robustly to prove whether there is an effect of the independent variable on the dependent variable. The population in this study took research journal articles published in Google Scholar. The samples in this study are journal articles indexed by SINTA 1 to 6. This study accumulates and integrates existing studies using the meta-analysis technique developed by Hunter et al. (1982) on 22 sample articles. The results of testing the variables of income, religiosity, knowledge of zakat, transparency, and trust in muzakki prove that there is a significant consistency of test results on the variable of muzakki's interest in paying zakat. While the calculation of the service quality variable states that it has no significant effect on the dependent variable.

The Phenomenon of Market Distortion Practices in E-Commerce (Bai' Najasy)

Agustin Mila Arlina — 2023-06-21

E-commerce is one of the marketing technologies used as a platform for online buying and selling in the present time. However, in its mechanism, there are similarities with the practice of Market Distortion (bai' najasy) in e-commerce, which is prohibited in Islam. This research aims to understand the practice of Market Distortion (bai' najasy) in e-commerce from the perspective of Islamic economics. This study uses a qualitative descriptive method by conducting direct research on the target audience. It is known that the phenomenon of market distortion (Ba'i Najasy) among e-commerce users in the Tanjung Village, Kedamean Subdistrict, Gresik Regency, still frequently occurs due to consumers being less selective and hasty in choosing a seller for a product. Based on interviews conducted by the researcher with 100 respondents representing the target audience, it was found that 67 of them expressed dissatisfaction with products purchased through e-commerce applications, while 17 others stated that they had been satisfied with their initial purchase but were less satisfied with their second purchase, and 16 others had not experienced what the other respondents had. This indicates the need for education among the public to selectively choose sellers on e-commerce applications.

Green Sukuk Retail Towards Sustainable Development in Indonesia

Atika Zahra Maulida — 2023-07-10

Green Sukuk is one of the products in the Sharia capital market that wants to be developed to encourage the country's economic growth by applying Sharia principles. Green sukuk buying and selling transaction agreement using wakalah contract and ijarah. The issuance of Green Sukuk on retail sukuk products issued by issuers can encourage the country's economic growth. This study aims to determine the development and economic growth through green sukuk products in retail sukuk products. This research uses qualitative methods with a literature review approach from previous research. The data collection method examines previous research in articles and progress reports, transactions, and economic growth from 2019 to 2022. The results of the data that have been collected will be used to answer the growth and development of green sukuk transactions on ST0060 retail sukuk products issued by the government and by private companies. The study's results explain that the performance improvement in retail sukuk products has increased yearly. The performance of the Net Asset Value of retail sukuk (green sukuk) NAV in 2019 increased by 3.56%; in 2021, the performance value of the Net Asset Value of Bersi h decreased by 2.83% due to the impact of the Covid-19 pandemic. In FY2022, the performance value of net assets increased by 41% due to stable economic performance. The role of government encouragement and economic performance growth has an impact on increasing Sharia capital market investors in retail sukuk products in 2022. The impact of performance, growth, development, and transaction growth on retail sukuk ST006 can be illustrated in the pattern. The graph shows a positive direction affecting the country's economic growth.

Control Strategy in the Fight Again Internal Fraud (PT BPRS Kotabumi KC Bandar Lampung)

Hotman Hotman — 2023-06-17

Islamic banks that carry out their duties and functions as financial management institutions have the responsibility to maintain public trust by protecting and protecting customer money from all forms of irregularities. Moreover, irregularities are committed by people who work in Islamic banks themselves or what is known as internal fraud. PT BPRS Kotabumi, Bandar Lampung branch office, is one of the Islamic banks committed to fighting fraud. The form of the effort is to prevent it through internal control instruments. The purpose of this study is to determine the internal control at PT BPRS Kotabumi Bandar Lampung Branch Office as a strategy to prevent internal fraud. This research is a qualitative descriptive field research. Researchers use interview methods and documentation to collect the required data. The research data obtained are then analyzed by using inductive analysis techniques, namely analysis that begins with specific facts or events to draw conclusions. Based on the results of research that researchers have conducted, it can be concluded that internal control can be an instrument to prevent internal fraud. Internal control at BPRS Kotabumi Bandar Lampung branch includes four control components. The four components of control are the control environment, control activities, information and communication, and monitoring.

The Jakarta Islamic Index (JII) Stock Price In Terms Of Oil, Gold And Exchange Rates

Syafira Indriyani — 2023-07-18

Stock prices are usually influenced by 2 factors, namely internal factors and external factors. The purpose of this research is to analyze the stock price of the Jakarta Islamic Index (JII) in terms of external factors, namely oil, gold and exchange rates. This study used purposive sampling and quantitative analysis methods for companies that have been consistent in JII for 10 years, and obtained 7 issuers as research specimens. Panel data were processed using multiple linear regression analysis in the SPSS Statistics program version 26. The results of this study indicate that the oil and gold price variables have no effect on JII stock prices, while the exchange rate variable has a positive effect on JII stock prices. Simultaneously the three variables concerned affect the JII stock price by 79.1%, and 20.9% are influenced by factors outside the factors studied. Investors who wish to invest are expected to pay more attention to macroeconomic aspects and to use sharia-based instruments, they can use JII as a reference.

Ottoman Cash Waqf System: An Alternative to the Western Capitalist System

Izzatul Muna — 2023-07-18

The purpose of this article is to investigate and analyze the Ottoman cash waqf system as a distinct economic model from capitalism, concentrating on its principles, operational mechanisms, and social impact. This study employed a literature review methodology and compared the Ottoman currency waqf system to the western capitalist system. This study reveals that the Ottoman cash waqf system was founded on the principles of social justice, solidarity, and equitable distribution, as opposed to the capitalist principles of prioritizing individual gain. This system provides solutions to problems of social and economic inequality and safeguards the most vulnerable members of society. In spite of its positive potential, the Ottoman cash waqf system confronts a number of obstacles, such as lack of effective management, proper regulation, and public awareness. This article explores the potential of the Ottoman cash waqf system as a different response to social and economic challenges that are viewed as an attractive alternative to the western capitalist system, despite the fact that the western capitalist system can have negative systemic effects.