Al-Infaq: Jurnal Ekonomi Islam

FACTORS THAT INFLUENCE WAQIF INTENTION ON CASH WAQF AND WAQF THROUGH MONEY (CASE STUDY BERKAHWAKAF.ID INDONESIAN WAQF BOARD)

2024-05-24T06:45:44+00:00

Cash waqf and waqf through money as one of form of alms giving the reward of jariyah, have large gap between potential and realization. Therefore, this research aims to describe respondent’s characteristics and analyze factors that might be influenced waqifs’ intention to do cash waqf or waqf through money particularly through berkahwakaf.id. The method used in this study were descriptive and logistic regression analysis. This study involved 186 respondents from berkahwakaf.id and non-berkahwakaf.id waqifs. The result show that the character of respondent was balanced between male and female, dominated by age range 25-57 years old, dominated with minimum undergraduate education level, private and government employee with average income more than Rp 5 million. Data analysis result show that the waqif’s intention to do cash waqf and waqf through money affected by subjective norms, promotion and education level have a significant positive affect and income level has a significant negative effect.

GREEN ECONOMY AND ISLAMIC FINANCE: CROSSING A SUSTAINABLE PATH IN ECONOMIC DEVELOPMENT

2024-05-24T06:45:44+00:00

This article presents a holistic view of the concept and integration between Green Economy and Islamic Finance in an effort to cross sustainable paths in economic development. The Green Economy, which focuses on sustainable and environmentally sound growth, meets with Islamic Finance principles that prohibit usury and promote social justice. The article also discusses how this integration can support the financing of sustainable projects, especially in the development of green infrastructure and the empowerment of local communities. The method used in this study is qualitative research. The descriptive qualitative research in this study has clarity in its specific purpose, which is to investigate and describe how the integration of Green Economy and Islamic Finance can contribute to sustainable economic development. By discussing the alignment of green economy principles and Islamic finance, this article provides a deep understanding of how this integration can form a sustainable path that not only benefits the economy, but also respects Islamic moral and ethical values. Findings reveal a significant positive impact on economic development, emphasizing environmental stewardship, long-term sustainability, community empowerment, and economic justice, all while respecting Islamic moral and ethical values. This integration not only benefits the economy but also enhances the overall stability and resilience of the financial system.

HALAL INDUSTRY: OPPORTUNITIES AND CHALLENGE IN THE GLOBAL MARKET

2024-05-24T06:45:44+00:00

This research aims to provide a deeper and more detailed understanding of the opportunities and challenges of the halal industry in the global market. The study employs qualitative analysis of secondary data, specifically metadata from 79 publications obtained from the Dimensions.AI database. The data is then processed using Nvivo 12 Plus software, which facilitates a more systematic and structured data analysis. The findings of the research indicate that there are significant opportunities for the development of the halal industry, which continues to grow in the global market, particularly in the food and tourism sectors. However, there are several challenges in the development of the halal industry, including the lack of globally agreed-upon halal certification, supply chain issues, low awareness and understanding of halal products among the general public, and a shortage of halal product manufacturers. To address these challenges and strengthen the position of the halal industry in the global market, efforts to improve marketing strategies, foster innovation, and enhance understanding of halal products are necessary. Consequently, the results of this research have the potential to influence the global market by contributing to the future development of the halal industry.

THE CONCEPT OF IMAN AS A CLARITY FOR ASSESSMENT OF SHARIA FINANCE CRITERIA IN INDONESIA

2024-05-24T06:45:44+00:00

Clarity on sharia assessment criteria in Indonesia is important to build public confidence in the rapidly growing Islamic finance industry. While the challenge of the complexity of Islamic financial instruments exists, the development of shariah-compliant criteria is necessary. This clarity is not only vital for financial institutions and industry players but also has a direct impact on investor and consumer confidence. This research uses the literature method with a normative approach. Data is obtained from primary and secondary sources, then processed and analyzed descriptively and qualitatively. The literature study method is used to study and review various documents and literature related to Islamic economics and sharia. The conclusion of this research highlights that the clarity of sharia criteria in the Islamic financial sector requires a holistic approach. In-depth consultations between Islamic jurists and the establishment of a specialized institution involving scholars, academics, and practitioners of Islamic economics are considered essential to ensuring that the assessment criteria reflect Islamic values. The IMAN concept, which encompasses Islamic values such as worship, muamalah, amanah, and ihsan, is considered to improve the performance assessment of Islamic banks by considering both financial and non-financial aspects. The focus on integrity, justice, and social responsibility in muamalah is expected to change the paradigm of Islamic bank performance assessment into a holistic evaluation that reflects Islamic values. The IMAN concept is not only a performance assessment tool but also a clarification of sharia criteria in Islamic finance.

IMPLEMENTATION OF REGIONAL REGULATION NO. 3 OF 2018 ON IMPROVING THE MANAGEMENT OF COLLECTION OF ZAKAT FUNDS

2024-05-24T06:45:44+00:00

This study aims to determine the form of implementation of PERDA Zakat No. 3 of 2018 towards improving the management of zakat funds collection in Bengkalis Regency. The data research methodology in this research is by collecting primary data, namely directly from the sources such as agencies and companies that are the object of research, and the data collection method is by distributing questionnaires. The sampling technique uses non-probability techniques, namely saturated samples or total sampling, which are census in nature. At the analysis stage, data quality tests, validity tests, reliability tests, classical assumption tests, data normality tests, multicollinearity tests, heteroscedasticity tests, multiple linear regression tests, and hypothesis tests (T-test and F-test) are carried out. The results of the study show that the PERDA of Zakat in Bengkalis Regency includes 5 aspects, namely Islamic Sharia, Trust, Benefits, Justice, Legal Certainty and Accountability have a significant effect on the management of zakat funds collection in Bengkalis Regency.

DETERMINANT OF BANK MUAMALAT’S PROFITABILITY BASED ON FINANCIAL VARIABLES

2024-05-24T06:45:44+00:00

Bank Mualamat is Indonesia's first Islamic Bank, founded in 1991. In its journey, Bank Muamalat experienced a crisis, including in 2015-2019, related to the Capital Adequacy Ratio (CAR), which was close to the minimum limit, Non-Performing Financing (NPF), which was high above the industry average Banking and ended with low profitability. This study focuses on determining the financial variables that affect the profitability of Bank Muamalat. The financial variables tested were CAR and Net Income Margin (NIM), Financing to Deposit Ratio (FDR), and NPF to Profitability (ROA) for the 2011-2022 period. The results of this study partially show that CAR and FDR do not affect ROA, but NIM and NPF significantly affect ROA. The research results that the Management of Bank Muamalat must consider are that simultaneously, CAR, NIM, FDR, and NPF affect ROA with a significance value of 0.012 <0.05. Based on the analysis, the coefficient of determination is 89.4%, which means that CAR, NIM, FDR, and NPF have an effect of 89.4% on ROA.

ZAKAT HARTA PERDAGANGAN (‘URUDH AL-TIJARAH)

2024-05-24T06:45:44+00:00

This study produced a zakat tariff formula; i.e. the annual Hijri zakat rate (2.5%) divided by the number of days in 1 Hijri year; the result of division multiplied by the number of days in 1 year AD; i.e. 2.5% : (JHTH) x (JHTM). The calculation result is 2.5%: 354 x 365 = 2.577%. Namely 2.5% zakat rate for hijri year, and 2.577% zakat rate for AD year (as compensation for the difference of 11 in 1 year). The formula for calculating zakat trading assets with hawl hijri year is: (BD) + (U) + (PMD) – (UJT) x 2.5%; i.e. unsold merchandise (BD symbol) plus unspent money (U symbol) plus receivables that may be paid (PMD symbol) minus the debt due (symbol UJT) multiplied by the zakat rate of the hiriah year (2.5%); and the formula for calculating zakat trading assets with hawl AD is: (BD) + (U) + (PMD) – (UJT) x 2.5%. The two formulas for calculating zakat are basically the same, the only difference is the rate of the hiriah year (2.5%) and the rate of the common year (2.577%).

EMPOWERMENT OF ORPHANS AND MOTHERS BASED ON QUR’ANIC VIEWS

2024-05-24T06:45:44+00:00

Zakat is an obligation for those who have the ability to be called Muzakki which aims to help others and for those who do not have the ability to be called Mustahik, including Fakir, Miskin, Amil, Muallaf, People who owe debts, People Who Study, and People who fight on the path of Allah Swt. Besides that, zakat can also be a tool for empowering ummah. The Muzakki, Amil and Zakat Collection Institute (UPZ) to participate in helping people alleviate poverty and social equality. Due to the Covid-19 pandemic, the number of orphans and widows has increased, this certainly affects the number of poor people, therefore zakat can be a solution. Therefore, LAZ Al-Bunyan launched a program to empower orphans and mothers as a breakthrough in an effort to provide orphan rights and contribute in accordance with the laws and verses of the Qur'an related to the empowerment of children and mothers.

ANALYSIS OF BUYING AND SELLING CONTRACTS IN ONLINE FOOD DELIVERY SERVICE TRANSACTIONS GOFOOD, GRABFOOD AND SHOPEEFOOD

2024-05-24T06:45:44+00:00

The current technological advancements have made it easier for people to buy and sell. Buying and selling activities that used to happen outside the house can now be done from home. Buying and selling activities can be done through various online services widely available today such as GoFood, GrabFood and ShopeeFood, which are online food delivery services. This research aims to analyze the contractual agreements in online food delivery services such as GoFood, GrabFood, and ShopeeFood from the perspective of Islamic Economics. The research adopts a qualitative approach with a descriptive research method. The findings of this research indicate three types of contracts involved in the transactions of GoFood, GrabFood, and ShopeeFood, namely ijarah agreement, wakalah, and buying and selling contracts. This study suggests that the transactions in these three services cannot be fully compliant with Islamic principles if the customers use cash payment methods. Cash payment methods in online food delivery services should be avoided, and it is better to use non-cash payment methods to avoid causing harm to drivers and the risk of engaging in usury (riba).

THE ROLE OF PBV AS MODERATION OF CAGR, ROE, AND DER ON SHARE PRICE (Case of Islamic Banking Sector Companies Listed on the IDX)

2024-05-24T06:45:44+00:00

This study examines the factors affecting stock prices in Islamic banking sector companies listed on the IDX for 2021-2022, with Price Book Value (PBV) as a moderating variable. The research method used is quantitative, with a sample of 3 Islamic banks listed on the IDX, including PT Bank Syariah Indonesia Tbk, PT Bank BTPN Syariah Tbk, and PT Bank Panin Dubai Syariah Tbk. The results of the study state that CAGR (Compound Annual Growth Rate) has a positive effect on stock prices and DER (Debt to Equity Ratio) has a negative effect on stock prices, with the results of 0.035 (CAGR) and 0.001 (DER) <0.05. Meanwhile, ROE (Return on Equity) and PBV (Price to Book Value) do not affect stock prices, with a significance value of 0.401 (ROE) and 0.246 (PBV) > 0.05. All variables influence stock prices with a significance value of 0.000 <0.05. PBV as a moderator can only moderate DER with a p-value of 0.0081 <0.05. PBV does not moderate CAGR and ROE because their p-value is > 0.05.

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