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This study examines the risks associated with investing in Indonesia, as well as the impact of foreign direct investment (FDI) on the country's macroeconomy. It uses the autoregressive distributed lag (ARDL) method to analyze the short-term and long-term relationship between macroeconomic variables and FDI inflows. The study utilizes annual time series data spanning from 1984 to 2015. The exchange rate is critical in the short term because it has an inverse effect on foreign direct investment (FDI). On the other hand, factors like inflation, GDP growth risk, and economic and political concerns have a major impact on foreign direct investment (FDI) over a long period of time. Financial factors, however, do not exhibit long-term cointegration with FDI. Prudent international investors prioritize the instability of macroeconomic variables to optimize profits on invested funds, highlighting the necessity of government regulation over these variables to enhance foreign direct investment inflows. This study contributes to the current body of work regarding the influence of country risk on foreign direct investment (FDI) inflows into Indonesia.

Even though Indonesia faces significant gender disparities across various sectors, including education, health, employment, and political representation, there remains a dearth of research addressing the barriers and strategic solutions for women's empowerment, which is the aim of this study. A quantitative method driven by the Modified Penta Helix Model (MPM) and the Delphi Analytical Network Process (DANP) was used. On the one hand, MPM was used to establish renewal between the five strategic dimensions and other additional elements such as economic, socio-cultural, and education and training. On the other hand, D-ANP developed indicators based on Focus Group Discussions (FGD) outcomes, in-depth interviews, and structured questionnaires. According to this study, education and training are essential in empowering women. The results of this study indicate the main problems in empowering women, which are divided into eight main dimensions: economic, socio-cultural, education and training, government support, association support, academic support, media support, and private sector support. Education and training were the most critical problems in empowering women. Collaboration between academics, business, community, government, and media is essential to develop effective education and training programs to empower women in Indonesia. Through employing D-ANP and MPM methodologies, this study suggests a model of women's economic empowerment to improve the quality of Indonesian women and Indonesia's position in the Women's Empowerment Index.

The low marketing literacy of MSMEs in Kaliombo Village, Pekalongan Regency, has resulted in low marketing activities such as packaging, product branding, and digital marketing. Apart from that, the literacy of MSME actors in the Village regarding halal products is still low, so they require readiness for the marketed products to comply with Government Regulations regarding Halal Product Guarantees. This government regulation requires that all products traded are halal so that they enter the halal ecosystem. This community service is carried out with training and mentoring activities to increase literacy regarding the importance of branding, packaging, digital marketing, and halal-haram to prepare MSME residents of Kaliombo Village to face competition in the market and enter the halal ecosystem. This empowerment includes socialization and assistance regarding concepts, uses, and how to apply branding, packaging, digital marketing, and halal-haram to the Kaliombo Village community farmer groups. This empowerment has an impact on increasing the competitiveness of MSMEs through optimizing brand design, packaging design, creating and developing social media accounts, and preparing to self-declare for halal certification permits for MSMEs.

Keterbatasan Kemampuan Teknologi dan rendahnya pemahaman sertifikasi halal anggota kelompok POKDARWIS membuat Agrowisata Halal Desa Besur belum dapat bangkit pasca pandemi. Oleh karenanya, dibutuhkan oemberdayaan masyarakat pada aspek sosial ekonomi melalui pemanfaatan teknologi dan sertifikasi halal pada produk UMKM (Usaha Mikro Kecil Menengah). Permasalahan prioritas yang dihadapi oleh pengelola Agrowisata Halal Desa Besur adalah (1) minimnya penggunaan sosial media oleh Pelaku UMKM dalam mempromosikan produknya, (2) minimnya pemanfaatan teknologi dalam pelaporan keuangan, (3) terbatasnya pemahaman UMKM terkait pentingnya sertifikasi halal, dan (4) Terbatasnya produk UMKM di desa wisata Besur yang sudah memiliki sertifikasi halal. Untuk itu, peneliti melakukan pemberdayaan sosial ekonomi masyarakat melalui pemanfaatan teknologi dan sertifikasi halal. Hal ini untuk mengoptimalkan kesiapan re-launching Agrowisata Halal dalam pemanfaatan teknologi dan peningkatan sertifikasi halal. Pelatihan dan pendampingan yang akan dilaksanakan meliputi: (1) pelatihan penggunaan sosial media untuk promosi, (2) pelatihan pemanfaatan teknologi dalam pelaporan keuangan, (3) sosialisasi pentingnya produk halal dan sertifikasi halal, dan (4) pendampingan produk halal dan ersertifikasi halal. Hasil kegiatan selama kurang lebih dua bulan, di dapatkan peningkatan pemahaman anggota kelompok POKDARWIS dalam pengunaan sosial media pemasaran, pencatatan keuangan dan pemahaman produk halal. Masyarakat Desa besur, utamanya anggota POKDARWIS sudah mampu mengembangkan Desa Agrowisata Besur.

This study investigates the relationship between Institutional quality, Economic freedom, technological advancement, and Islamic financial development in selected OIC countries. This study employs the panel estimation method to examine annual data pertaining to Islamic bank industries across 22 countries, sourced from the SESRIC database, from 2013 to 2021. The findings show that the overall quality of institutions and economic freedom influence Islamic finance development. Further, the contribution of technological development appears when institutional quality indicates higher performance. Despite the predominant correlation observed among institutional indicators, this study, focusing on a comprehensive index, reveals a consistent and significant contribution of institutional quality to the growth of Islamic finance. Furthermore, this study's findings show that institutional quality and economic freedom are related; yet, the methods by which the foundations of each indicator influence financial development differ. The findings of this research underscore the importance of urging policymakers, particularly governmental authorities, to prioritize the development of policies and initiatives aimed at fostering a healthy and conducive environment. Emphasizing practical and transparent institutional frameworks is essential for cultivating a well-regulated economic environment.

The banking industry necessitates implementing an early warning system to effectively identify the factors that impact bank managers and enable them to make informed decisions, thereby mitigating systemic risk. Identifying factors that influence banks in times of stability and crisis is crucial, as it ultimately contributes to developing an improved early warning system. This study undertakes a comparative analysis of the stability of Indonesian Islamic and conventional banking across distinct economic regimes-crisis and stability. We analyze monthly banking data from December 2007 to November 2022 using the Markov Switching Dynamic Regression technique. The study focuses on conducting a comparative analysis between Islamic banks, represented by Islamic Commercial Bank (ICB) and Islamic Rural Bank (IRB), and conventional banks, represented by the Conventional Commercial Bank (CCB) and Conventional Rural Bank (CRB). The findings reveal that both Islamic and conventional banks exhibit a higher probability of being in a stable regime than a crisis regime. Notably, Islamic banks demonstrate a greater propensity to remain in a stable regime than their conventional counterparts. However, in a crisis regime, the likelihood of recovery for Sharia-compliant institutions is lower than for conventional banks. Furthermore, our analysis indicates that larger banks exhibit higher stability than their smaller counterparts regarding assets and size. This study pioneers a comprehensive comparison of the Z-score, employed as a proxy for stability, between two distinct classifications of Indonesian banks: Sharia (ICB and IRB) and conventional (CCB and CRB). The result is expected to improve our awareness of the elements that affect the stability of Islamic and conventional banking in Indonesia, leading to a deeper comprehension of their dynamics.

AbstractAbsorptive capacity is widely acknowledged as a critical driver of innovation, business development, and self-renewal through the acquisition, transformation, assimilation, and application of knowledge. Despite the importance of the relationship between transformational leadership and corporate entrepreneurship, there exists a research gap due to the insufficient exploration of the mediating impact of absorptive capacity. This study endeavors to fill the existing research gap by delving into the interplay between transformational leadership and corporate entrepreneurship, taking absorptive capacity into consideration as a mediating factor. Surveys were collected from 154 middle managers representing a broad range of healthcare institutions in the United Arab Emirates. The study utilized a two-step structural equation modelling approach and provided empirical evidence to support the hypothesis that absorptive capacity mediates the relationship between transformational leadership and corporate entrepreneurship. These findings contribute to the resource-based view theory by demonstrating the effective role of transformational leadership in promoting corporate entrepreneurship through the development of absorptive capacity.

AbstractThe study examines the stability of Indonesian Islamic Commercial Bank (ICB) and Islamic Rural Bank (IRB) by employing a Markov Switching Dynamic model of two regimes, stable (tranquil) and unstable (crisis). This study utilizes monthly data between December 2007 and April 2022. Findings show that both ICB and IRB have greater probabilities of remaining in the tranquil regime compared to the period of crisis. Even though ICB Z-scores have a wider range of volatility than IRB Z-scores, the ICB has been shown to recover from crises faster than the IRB. The differences in characteristics between ICB and IRB, as well as swings in the Z-score, do not provide resilience benefits. Thus, both ICB and IRB are equally vulnerable to the crisis. This study’s findings could be used to generate policy for the relevant stakeholders of Islamic banking industries.

Purpose – This paper attempts to rejuvenate waqf in the health sector by identifying and elaborating on its issues and challenges. The government budget for this sector is significant; thus, the present paper aims to provide a nongovernment budget to lessen the government's burden Design/methodology/approach – This qualitative study uses structured in-depth interviews with 12 respondents to generate valuable insights and thoughts in order to frame recommendations. Findings – The findings highlight the key themes: human resources, finance, collaboration and coordination, legal issues, basic healthcare insufficiency, data and digitalization, accountability and sustainability and infrastructure. The following are the proposed solutions: capacity building program (CBP), hybrid waqf scheme, big data connectivity, specific legal framework, refocusing and reallocating of resources for the health sector during and after the pandemic Research limitations/implications – This study focuses on Indonesia and Malaysia as the authors believe that these two countries have a lot of practice in the field. Further studies may focus on other countries, such as Pakistan. Practical implications – This paper proposes potential ways to embrace government policy consideration, optimize the elaboration among productive waqf with other kinds, improve governance of and coordination among waqf institutions and increase the awareness to improve significant development. Social implications – By considering this paper's recommendations, waqf stakeholders in the healthcare system can improve the social benefits for poor and needy patients. Originality/value – This study presents the latest strategic analysis of waqf, which is important for the government policy in developing waqf.

This study aims to examine the model of poverty alleviation by analyzing several aspects that in Islamic economics are considered to have an effect on poverty alleviation. Using a sample of provinces in Indonesia, this study applies to panel data analysis. The novelty of this research is using more variables, including some aspects rarely discussed in previous empirical models. The results of this study indicate a significant negative effect of mandatory and charity transfer variables on the poverty level. Although using different proxies, the results of this study are in line with and confirm previous theories and empirical research regarding the effect of zakat on poverty alleviation. In addition, the variable of increasing income was also found to have a significant effect on poverty alleviation. This provides an overview for the government to be able to optimize the role of zakat and increase income to reduce poverty, for example, by integrating the distribution of ziswaf through the provision of working capital more broadly and integrated towards economic improvement and growth so that it will bring a greater multiplier effect. In addition, the results of this study also provide recommendations for researchers to complement the limitations of this study. The limitation of this study is the lack of proxies in describing aspects that become variables of poverty alleviation in Islam as a whole. Whereas in Islam, poverty and its alleviation are multidimensional things and are not limited to material aspects but also spiritual.

Indonesia has an agricultural sector that contributes significantly to the Indonesian economy. However, when the COVID-19 pandemic affected the agricultural industry, it impacted much on the Maju Mulyo Farmer Group in Tambakrigadung, Lamongan. The majority of members of the Maju Mulyo Farmer Group were classified as dhuafa, which means that they had limitations in developing their businesses, planning family finances, and in using technology optimally to support business continuity. The solution provided was through community economic empowerment activities related to Maqashid Sharia-based financial management and digital marketing. The method began by identifying the existing conditions of the Maju Mulyo Farmer Group. Subsequently, it was proceeded with the training stages which included product development training, business management, recording simple accounting reports, e-commerce, digital marketing, and family financial management. The last stage consisted of mentoring, empowering, monitoring, and evaluation. The results of community service activities and providing training with regular assistance could open new insights for rural communities regarding financial and business management amid the COVID-19 Pandemic. Financial management and digital business could facilitate the daily activities of residents and improve the ability of villagers to survive during the COVID-19 pandemic.

Filantropi Islam di Indonesia memiliki tujuan yang relevan dengan Sustainable Development Goals (SDGs), yaitu kesejahteraan. Disamping itu, potensi penghimpunan dana filantropi Islam di Indonesia menjadi keuntungan tersendiri. Namun, lembaga filantropi Islam memiliki beberapa permasalahan diantaranya: permasalahan di bidang kelembagaan, teknologi, sumber daya manusia, regulasi dan tata kelola. Salah satu cara untuk mengatasi permasalahan tersebut adalah melakukan integrasi keuangan sosial syariah. Kegiatan pengabdian masyarakat ini bertujuan untuk memberikan pembinaan integrasi keuangan sosial syariah kepada lembaga filantropi Islam dan stakeholder terkait. Pembinaan dilakukan sebanyak dua kali. Kegiatan pertama dilakukan secara online kepada Lembaga filantropi Islam dengan memanfaatkan media zoom. Kegiatan pertama menghadirkan para pakar dari perwakilan regulator, praktisi dan akademisi untuk memberikan arahan dan catatan penting terkait dengan materi pembinaan yang diberikan. Pembinaan kedua secara hybrid kepada masyarakat Desa Tambakrigadung, Lamongan. Hasil program pengabdian menujukkan telah terbina sejumlah lembaga filantropi Islam dalam integrasi keuangan sosial syariah, salah satunya pada implementasi program yang memberi dampak langsung terhadap masyarakat yang membutuhkan.

Islam teaches to minimize the gap between the rich and the poor through the teachings of Zakat, Infaq and Sedakah (ZIS). Indonesia is one that is included in the red zone of a poor country with various potentials and problems. The problem that will be examined in this research in general is how to strengthen economic institutions run by BMT in poverty reduction efforts. The purpose of this study is to reveal that BMT financing is effective in reducing poverty, where most respondents can increase their income after receiving BMT financing as an effort to reduce poverty and find out what efforts / policies have been established by the government to overcome poverty during the COVID-19 pandemic.

This paper discusses sources of Islamic public finance income based on the ideas of Abu Ubaid and Ad-Dawudi in the Al-Amwal book and makes them relevant to sources of income from Indonesian public finances. The writing uses a qualitative method with a literature study approach to analyze the thoughts of Abu Ubaid and Ad-Dawud. The results showed that the sources of public financial income according to Abu Ubaid are zakat, fa'I, and khumus. While according to Ad-Dawudi in the book Al-Amwal, the source of state income is divided into periodic income (jizyah and kharaj and usyur) non-income periodic (ghanimah, fa'I, and zakat). In general, it has relevance to public sources of finance in Indonesia, it's just that the system or amount is different. Kharaj, fai, usyur, khumus in the form of mining taxes, jizyah in the form of visas, ghanimah there are differences of opinion that can be equated with confiscated goods from the state due to violating the law while other opinions say they are irrelevant because they support war actions to acquire wealth, lastly, Zakat is still practiced in Indonesia and managed by BAZNAS and LAZ

The public financial sector is experiencing quite dynamic developments from time totime. Its development is also influenced by the character of the system of government that occurs at a certain time. Since the time of the Prophet (s) until now, the dynamics of the public financial sector has undergone a definite change due to the different facts faced by each time. In its development there are fixed and some are changing. This study is use literature review method, literature review is a study conducted by researchers by collecting a number of books, magazines related to problems and research purposes. Develop a sense of social responsibility in people who have excess wealth. Zakat is a mandatory provision in the economic system so that in its implementation is carried out through official or legal institutions. Waqf recipients from the community are done in an easy way, among others through mobile banking, Short Message Service and waqf kiosks. In Malaysia to develop waqf assets, investments are made through Malaysian sukuk and capital market instruments issued by the Securities Commission in February 2001.

Market participants can take various methods, ranging from acceptable practices to fraudulent methods. The State is expected to take on the role of the market supervisor so that both sellers and buyers can feel justice. The State has the right to regulate the course of the economy but with limits that are not detrimental to market players. In Islam, the market is controlled so that competition is carried out voluntarily. There must not be a party that is harmful to the party that is injured. This study aims to determine the role of the State as a market supervisor from an Islamic perspective. This study uses a descriptive method with a qualitative research approach. The data collection technique in this research is literature search from journals, books, electronic books, articles, and other information media related to the State's role in market supervision. The market supervisor in Islam is known as Al-Hisbah. The main task of al-hisbah is to invite the truth and forbid Munkar. In addition, Al Hisbah has three main functions, namely economic, social and moral functions. In contemporary times the position of al-hisbah can be a complementary role for a ministry or state agency.

This research aims to examine the effects of the Islamic social finance (zakat), the Islamic Human Development Index (IHDI), and the quality of governance on poverty alleviation in 39 Organization of Islamic Cooperation (OIC) member countries from 2007 to 2020. This study uses a fixed effect model to analyze the relationship between variables. The findings show that the Islamic human development index, as a proxy for the quality of human resources, supports the reduction of poverty in OIC countries. Furthermore, the zakat, voice and accountability, and trade openness have a negative and significant relationship with poverty. The quality of governance, population, inflation, and exchange rate, on the other hand, has no significant effect on the poverty rate. These findings can be used as the foundation for state government as the policymaker to solve poverty. The uniqueness of this study is the application of the modified human development index based on the five Islamic objectives and empirically investigates its impact on poverty.

Introduction: The rapid development of technology requires business people to adapt, especially in consumer decision-making. This study aims to analyze the effect of online customer reviews and online customer ratings on consumer purchase intentions. Religiosity is the moderating variable in this study. Methods The research method used is quantitative, with PLS-SEM as the evaluation model. Respondents used Muslim, gender male, and female, and were aged 17 years and over, totaling 101 respondents. Where the data was taken by providing an online questionnaire spread on Java Island from April until June 2022. Results: The results showed that online customer reviews did not affect consumers' purchase intentions. On the other hand, online customer ratings influence consumers' purchase intentions. In the moderating variable, religiosity does not have a moderating effect between the dependent and independent variables. Conclusion and suggestion: The rapid development of technology today presents many online platforms. The study's results stated that the Customer Online Review variable did not affect purchase intentions, while the customer online rating variable influenced purchase intention. The researchers advise Muslim fashion business actors who use the media marketplace as a means to sell their products to improve product quality and establish relationships with consumers so that consumers can make repeat purchases. The strategy can be used in developing a Customer Relationship Management (CRM) team.

This study aims to analyze the influence of the components of the Theory of Planned Behavior, which consists of positive attitude, peer influence, and zakat knowledge on the compliance behavior of paying zakat profession with the intention to pay zakat as an intervening variable update case in covid 19. This research is a quantitative study using the Partial Least Square-Structural Equation Modeling (PLS-SEM) technique. The sample used is 100 respondents based on the calculation of the Slovin formula with 129 respondents of zakat profession payers (muzakki) in Indonesia. Empirical findings indicate that a positive attitude and zakat knowledge positively and significantly affect the intention to pay zakat. The intention to pay zakat has a significant positive effect on the compliance behavior of paying zakat profession even during covid 19. Meanwhile, peer influence has no significant impact on the intention to pay zakat due to the Covid 19 era. Policymakers need to pay more attention to the factors that have been identified in this study as essential factors to become a reference in developing strategies to increase zakat collection. Zakat is one of potential Islamic social fund to eradicate poverty as impact of the Covid 19 pandemic.

This study aims to analyse the level of efficiency of zakat institutions in Indonesia between 2014 and 2018. Zakat institutions are divided into three clusters based on the organisation's nomenclature: the government, public, and private groups. The division of these clusters aims to see differences in the management of zakat funds between each group. This study uses a quantitative research approach through the Free Disposal Hull (FDH) method to produce a more comprehensive average efficiency estimation than the Data Envelopment Analysis (DEA). The sampling technique is purposive, and there are fourteen research objects observed. The government cluster is the cluster with the highest efficiency value. The private set comes in second, and the public group comes in third ranking. The high score that the government cluster earns is due to their primary business purpose, which focuses on managing zakat funds. The results of this study can be used as references for the policy establishment of zakat institutions in Indonesia.

This study proposed an integrated model of Islamic Social Finance (ISF) to accelerate the transformation of the poor toward prosperity. This is a qualitative and quantitative approach using grounded theory and the Average Weighted Index (AWI). The integration model of Islamic social finance is implemented through 4 ER (Economic Rescue, Economic Recovery, Economic Reinforcement, and Economic Resilience) by integrating Islamic social finance instruments in a joint project scheme. The additional finding of the empirical investigation shows that integrated Islamic social finance is 12% more effective in enriching the poor than the non-integrated program. This study emphasizes the significance of integrating Islamic social finance in accelerating the well-being of the poor community.

This study explores the effect of zakat and non-zakat empowerment programs on the beneficiaries' welfare (mustahiq). This study focuses on the influence of the intervening variable, namely the mustahiq businesses' growth on mustahiq welfare. This study also examines the role of demographic characteristics, such as age, gender, and years of education on mustahiq business growth. This study employs the Partial Least Square-Structural Equation Model (PLS-SEM) using data from 100 respondents who received empowerment assistance from three different zakat institutions. The sample of mustahiq was selected from three zakat institutions to provide a diversity of respondents. The results indicate that zakat and non-zakat programs' empowerment through business growth has significantly affected mustahiq welfare. With these results, both zakat and non-zakat productive programs should be more developed to assist the community businesses' growth optimally. Previous studies measure the welfare of mustahiq with material aspects. In this study, the indicator of welfare is based on maqashid sharia, which includes the protection of Ad-Din (religion), An-Nafs (Soul), Al-Aql (intellect), Al-Nasl (descendant), and Al-Maal (wealth). Examining the impact of two variables, namely productive empowerment programs through zakat and non-zakat, on mustahiq business growth and welfare is the novelty of this study.

This study attempts to identify the causes and dominant factors that hinder the development of cash waqf in Indonesia, using the IFE-EFE Matrix and SWOT methods, while offering solutions to solve it. Based on the results of IFE analysis, the highest-rank of strengths is the ability of cash waqf in expanding the base of waqf fund sources followed by the ease and zero cost of funds. In comparison, the top weaknesses are the lack of socialisation to the community and the lack of professional nazhir human resources. The results of EFE analysis imply the highest-rank opportunity is the potential of unlimited cash waqf followed by the emergence of many sharia financial institutions and Islamic economics study programs in universities. Meanwhile, the top threat is a weak political will of authorities, followed by the majority of traditional nazhir. It is expected that there will be a joint commitment from various parties, both from policymakers and academics and practitioners to support and encourage efforts to develop the Islamic (social) finance industry, especially in developing cash waqf in Indonesia.

Several previous studies state that the Islamic Social Finance program has not fully succeeded in creating prosperity, and there are no definite measurements to show the sustainability impact of the program. Thus, a measurement is needed to analyze various aspects in achieving the success and sustainability of Islamic social finance programs. This study developed an index for performance evaluation with an emphasis on the success and sustainability of the Islamic Social Finance program. The study used the Analytical Network Process to determine and analyze priority components. Furthermore, the Multistage Weighted Index method was used to calculate the final index score. The index was built by taking into consideration various factors, stakeholders, aspects, and indicators. This study indicates that aspects of funding contribution from donors (0.22), involvement of donors in giving advice (0.99), and controlling of supervisor (0.08) are priority aspects in the success and sustainability of the program. An empirical investigation was performed on three different programs in Indonesia: A, B, and C. Program A (0.81) and C (0.80) have succeeded in improving the beneficiaries' quality of life to the level of economic resilience, although at a low level of sustainability (76-84.33). On the other hand, program B (0.73) is at the economic reinforcement and has not yet achieved sustainability. This index can be seen as a comprehensive tool for measuring the success and sustainability of the program at several levels.

The utilization of Islamic social finance instruments is far behind what is expected. To realize its full potential, Islamic social finance instruments must be integrated. This study examined solutions and priority strategies for integrating sustainable Islamic social finance that could be implemented in the short and long term using the Benefit, Opportunity, Cost, and Risk (BOCR) framework, which includes six aspects: Governance, sustainable financing, institutional aspect, human resources, regulations, and supporting technology. This qualitative research employed the Analytic Network Process (ANP) method using the benefit, opportunity, cost, and risk analysis. The data were obtained mainly through focus group discussions and in-depth interviews with respondents among academics, practitioners, associations, regulators, and community leaders. The respondents were selected for their expertise and experience in the selected topic. The data were processed using the Microsoft Excel and Super Decision software. There are several findings worth considering from the analysis. First, the highest priority in integrating Islamic social finance aspects are human resources (0.97), regulation (0.86), and technology (0.76). Second, based on the short- and long-term analysis, financial integration through sustainable financing (0.01 and 1.44, respectively) and improving human resource quality through certification and training (0.01 and 1.56, respectively) is a priority solution and strategy to integrate sustainable Islamic social finance. Meanwhile, according to expert judgments, integrating national data (0.24) and optimizing technology use (0.18) are priority solutions and strategies. The findings emphasize the critical role of improving human resource quality to utilize technology, with experts identifying a national data integration as the most critical solution. As a result, relevant stakeholders are concerned about technology management training for Islamic philanthropic managers, with the goal of maximizing the potential of technology's growing role and adoption.

Liquidity risk is one of significant risk managed by financial intermediaries including Islamic Microfinance Institutions (IMFIs). The financial intermediaries accept short-term deposits and disburse these deposits in the form of long-term loans. This situation makes IMFI desperately need a lender of last resort (LOLR). Nevertheless, there has been no formal LOLR for Indonesian IMFIs. This study intends to construct the LOLR model for IMFI in Indonesia. This qualitative study applies a case study analysis. This study's subjects are IMFIs in East Java Province that was selected purposively with thirty managers as the key informants. Research findings show that the best model of LOLR is developing a secondary cooperative since the majority form of IMFIs in Indonesia are cooperative entities. With all members of a secondary cooperative deposit for reserve requirements, they can place excess liquidity in the secondary cooperative and ask for financial support.

The purpose of this study is to analyze how the linkage program of Islamic institutions and government institution in empowering MSMEs and analyze the increase in the range of empowerment. By using a qualitative research approach and descriptive analysis method, the results of this study indicate that there are four parties involved in the empowerment linkage program and each party has their respective roles in the aim of empowering MSMEs. Furthermore, there is also increasing in the range of empowerment in terms of the amount of empowerment program funding and improving the quality of MSME after participating in the empowerment program.

As one of the members of the Organisation of Islamic Corporation (OIC), Indonesia has excellent trade prospects. Therefore, this study has a purpose to examine the impact of macroeconomics factors on trade between Indonesia and intra-OIC countries. The variables of macroeconomics in this study consist of country risks, inflation, exchange rate, oil price, and economic growth. Quantitative is the right method for this study, applying Ordinary Least Square (OLS) regression with the help of EViews. The data used for the analysis is a time horizon with annual frequency from 1986 to 2016. Furthermore, finding shows that almost all variables of macroeconomics play an insignificant role in determining the trade between Indonesia and Islamic countries. However, the oil price is the only variable to show its contribution towards trade between Indonesia and intra-OIC countries. The results indicate that macroeconomic variables do not contribute to the key decisions for conducting trade internationally. Political factors and bilateral treaties become better variables to explain Indonesia's trade with other Islamic countries.

This paper analyses the product diversifications of insurance companies as supporting facilities for infrastructure development in Indonesia. Infrastructure development requires protection or guarantee and insurance as a medium for risk transfer hinders the implementation of infrastructure development both during the construction process and when the infrastructure is used. Product diversification carried out by insurance companies to support infrastructure development harms the company's financial performance. The more diversified business lines owned by insurance companies, the lower the company's financial performance. This will negatively impact the ability of insurance as a medium for risk transfer. On the other hand, huge ownership of market share and reinsurance will positively affect the financial performance of general insurance companies in Indonesia.

Islam exists and is trusted by its adherents as a doctrine that regulates all forms of human activity universally and comprehensively, between human beings as creatures with God as their Creator and human beings as fellow creatures of His creation. Muslims will never be free from all kinds of economic activities, therefore as Muslims in their economic activities must be based on Islam in order to get welfare and maslahah. Then the purpose of this study will researching in more detail about the foundations of Islamic economics and Maqāṣid al-Sharī‘ah so that in the economic activities of Muslims get falah and maslahah. The hope of the results of this study can be used as a reference for both readers and writers. Islam ada dan dipercaya oleh para pengikutnya sebagai doktrin yang mengatur semua bentuk aktivitas manusia secara universal dan komprehensif, antara manusia sebagai makhluk dengan Tuhan sebagai Pencipta dan manusia sebagai sesama makhluk ciptaan-Nya. Muslim tidak akan pernah bebas dari segala macam kegiatan ekonomi, oleh karena itu sebagai Muslim dalam kegiatan ekonomi mereka harus didasarkan pada Sharī‘ah untuk mendapatkan kesejahteraan dan maslahah. Maka tujuan penelitian ini akan meneliti secara lebih detail tentang pondasi ekonomi Islam dan Maqāṣid al-Sharī‘ah sehingga dalam kegiatan ekonomi umat Islam mendapatkan kesejahteraan dan maslahah. Harapan hasil penelitian ini dapat dijadikan referensi baik pembaca maupun penulis.

Zakat is an instrument of Islamic economic and social funds that contributes to the achievement of people wellbeing. This study examines the business growth as a mediating variable on the relationship between the impact of the zakat empowerment programs and mustahiq’s (zakat recipient) welfare. This quantitative study employs Partial Least Square Structural Equation Modelling (PLS-SEM) analysis on 100 mustahiqs from different zakat empowerment programs in East Java and DI Yogyakarta. Zakat empowerment positively affects mustahiq’s welfare. This indicates that the empowerment program successfully increases mustahiqs’ wellbeing and their business. Business growth as a mediating variable on the relationship between business assistantship and mustahiq welfare also shows a positive and significant effect. Further, macroeconomic indicators consisting of GRDP and inflation and internal factors consisting of age and educational level, have different impacts on the business growth of mustahiq. This study confirms the zakat empowerment program’s role in improving the mustahiq’s welfare based on maqashid al-shariah (the Islamic objectives). Zakat community empowerment is a solution to suppress the poverty rate and possible for reducing inequality and ending poverty in Indonesia. This study extends the literature by providing a unique measurement of mustahiq welfare. This study incorporates maqashid al-shariah considerations to measure the wellbeing.

This study aims to look a universality services Islāmic banking and conventional bank services and products in Indonesia by testing whether the services and products of conventional Islāmic banks and conventional banks accepted by all groups, both Muslims and non-Muslims. The method used was the Multivariate Analysis of Variance (MANOVA) test by comparing Islāmic banks performance and conventional banks performance represented by several financial ratios in a number of provinces in Indonesia. There are two provincial categories, namely the first group is a provincial province with a most Muslim population and the second is a class of provincial provinces with a most non-Muslim population in Indonesia.

This study identifies determinants of customer loyalty to Islamic banking in Indonesia using a structural equation model (SEM) and confirmatory factor analysis (CFA). Data of 362 respondents from two cities of East Java Indonesia have been used to determine the factors of customer loyalty of state-owned and private Islamic bank. The findings suggest that the customers have different perceptions about state-owned and private Islamic banks; with customer engagement is the strongest influence on customer loyalty in state-owned and customer satisfaction is the strongest influence in private Islamic banks.

This study aims to analyze the influence of ZIS fund's and inflation towards the economic growth in Indonesia during 2011-2015. The research method is quantitative method with multiple linear regression technique. The data used is the collected secondary data of remittances of ZIS from BAZNAS (national amil zakat agency) and inflation rate of BI (Bank of Indonesia) in Indonesia during 2011-2015 that includes monthly data all over Indonesia. The results of the research indicates that the funds of ZIS (X1) affects positively and significantly towards Indonesia's economic growth and inflation (X2) do not affect significantly to economic growth in Indonesia as well as ZIS fund and the inflation simultaneously affected the economic growth significantly during 2011-2015 in Indonesia.

This research aims to analyze the effect of trainig and rolling capital of BAZNAS in East Java on operating revenue of mustahiq both partially and simultaneously. It uses quantitative approach method. Sampling technique used is non-probability sampling with purposive sampling technique which is a technique of sample determination with certain consideration. Data collecting techniques used are questionnaire, interview, observation and documentation. Data analysis technique used is multiple linear regression analysis. The result processed by SPSS progeam version 23.0 for Windows shows that the value of Adjusted R Square of 0,711 means that 71,1% of operating revenue of mustahiq in BAZNAS East Java is influenced by the training and rolling capital.

As an agricultural country, the agricultural sector has a vital role in the development of the national economy. But it does not mean the agricultural sector work without an obstacle. In fact the sector is often faced with various problems, especially in the weakness of capital. The capital needs will increase along with various choices of commodities and cropping patterns, the development of cultivation technology, post- harvest handling and processing of increasingly rapid results. In the era of agricultural technology, intensive of capital mobilization for both agricultural equipment and production facilities. Farmers can not afford to finance their farms with their own funds so that the farmers decide to finance the majority of which come from conventional lending institutions or even loan sharks and “moneylenders” based on the interest system which contains the element of riba. This is what causes financing by using islamic financial institutions are still minimal. Over this condition, making an opportunity as well as a challenge for islamic financial institutions to be present in the community, especially farmers in the agricultural sector, in order to minimize the action of riba in economic activity. As a solution, sharia financial institutions offer appropriate financing schemes in accordance with the needs of farners, but it can also be through the optimization of the function of islamic microfinance institutions (BMT) as an alternative in financing in the agricultural sector, the establishment of agricultural sharia banking and the application of rewards and punishment in financing. So the purpose of this study is expected by closer farmers with islamic financial institutions so that they can be completely free from the riba that can harm. Keywords: Riba, Agricultural Development, Sharia Financing, Islamic Financial Institutions, Islamic Banking.

The aim of this study is to understand how coastal moslem’s creative economy development are. This study has used qualitative approach with study case strategy. Data collection has done by interviewing the informants i.e. Head of Kelurahan Sukolilo and Creative Industry’s stakeholder nearby Kenjeran, Surabaya. The result of this study is an appropriate model to develop coastal moslem’s socio-economics is a holistic-integrated developments. The model involved sort of stakeholders viz. fishermans, seafood crackers producers, the government, NGO’s, and universities. Keywords : Coastal Communities, Creative Economy, Kenjeran, Sosio-Economic Development

This research purpose is to know the comparison empowerment of productive zakah between rural and urban communities in West Kalimantan Province. This research was conducted in two places, namely Lembaga Amil Zakah (LAZ) Rumah Zakah and Lembaga Amil Zakah (LAZ) Dompet Peduli Ummat. The discussion of this research is about how the comparation of productive zakah empowerment performed by LAZ Rumah Zakah to urban and LAZ Dompet Umat to rural communities in West Kalimantan Province. This research was design in the form of a qualitative descriptive research throughout case studies strategy. In this research, the researcher using observation, interview and documentation as the instruments of data collection. The researcher was interested using a pairing pattern, making of explanation and analysis of time series in technique of data analysis. Research result shows that, zakah empowerment that conducted by LAZ Rumah Zakah to urban community has fulfilled in one of the indicators which is the ability to take advantage of future enterprises. Whereas, the empowerment programs which conducted by LAZ Dompet Umat to rural community also fulfilled two indicators: the decision-making ability and economic independence. For overall, the empowerment programs which conducted by LAZ Dompet Umat is better than what LAZ Rumah Zakah did to the urban because there are two indicators achieved

The background on this research that there are many people who have not managed a prosperous but has received funding from the program pusyar in Mojokerto. It thus indicates that the program pusyar conducted in Mojokerto experiencing the failure. The purpose of this study was to analyze the failure of programs to improve the welfare pusyar. The method used is a qualitative exploratory methods. The primary data obtained from interviews, observation and documentation of the parties associated with programs such as the SRB pusyar, Baznas, MES and also people who have not managed to prosper. While secondary data in this study were obtained from the print media or internet about pusyar, supporting data from a variety of journals, books that are relevant to the research. The results of the analysis carried out indicates that there are six factors to failure program pusyar in improving the well-being, namely: the level of income of the people that there is no improvement, the length of the process undertaken by the pusyar, funds provided to large businesses more than for small businesses, a guarantee that burden the people , the absence of assistance and facilities of the parties pusyar, and MES is not performing its role to the fullest.

The purpose of this research is to analyze the influence of country of origin image, product knowledge, brand familiarity on purchase intention with information seeking as the mediation variable with Etude House cosmetic product as the object research in Indonesia. This research is a quantitative research that using SEM AMOS and Sobel test to analyze data. Sample of this research were 213 women in Indonesia who have known brand Etude House and never bought them but they knew that Etude House is Korea brand. The results of this research show that country of origin image, information seeking, and brand familiarity have positive impacts on purchase intention, and information seeking mediated the influence of country image on purchase intention, but product knowledge have negative impact on both information seeking and purchase intention, but also information seeking is not mediated the influence of product knowledge on purchase intention.

Poor people in the world remains a global problem. Previous studies have been widely using various perspectives related to aspects of fundamental and macroeconomic. However, research that focuses on methods to manage zakat institutions still do not exist. Especially on zakat management institutions in Indonesia. Countries with a Muslim majority population in the world. This study used a qualitative approach through multiple cases study aimed to determine the zakat fund management strategies at the National Zakat Agency and the Institute of National Zakat Al Ahzar East Java. Data collected through individual depth interview. This study describes the findings of Zakat Scorecard Model through categorical analysis results. The article also describes the academic and managerial implications related to zakat management institutions.

Islam has many solutions in addressing the issue of limitations in education. That is cash waqf. Cash waqf, is expected to narrow the gap between rich and poor society by means of transfering of wealth (the profits from managing cash waqf) from rich to poor. The purpose of this study is to analyze the cash waqf empowerment model in an effort to improve the quality of education. The method is done by in depth-interview with the boards (Leader and Manager program) of Yatim Mandiri, administrators of YKN (Independence Nusantara Foundation), and the staffs of Insan Cendekia Mandiri Boarding School. Limitation of this paper is to investigate the three institutions of zakat mentioned earlier. The results showed that waqfin the form of movable or immovable objects can be utilized and provide benefits to the society. The role of waqf, especially in improving the quality of education, is still limited to the purchase of land. The land is used for institution building of Insan Cendekia Mandiri Boarding School. There is a model of cash waqf empowerment in the institution of zakat (Yatim Mandiri) that can be replicated in other institutions of zakat. The structure of this paper are: Section 1 describe the development of cash waqfin Indonesia; Section 2 is literature review about cash waqf; Section 3 explain the research model used in this paper; Section 4 is discussion; and the last Section 5 is the authors conclusion and authors recommendation to improve the empowerment of cash waqf.

Background: People are more aware of halal products in commodity markets. Halal meat is an essential commodity for society in the Islamic commodity market in particular. The objective of this study was to analyze differences in research trends related to halal meat in published papers indexed by Scopus and Web of Science. The objective is to observe how was halal meat as commodity become the trend of research written by Indonesian authors, as well as what was the novelty of the research trend related to such tiopic. Methods: This study used purposive sampling with a bibliometric approach in collecting the samples. The samples were published papers from the Scopus and Web of Science (SCI) databases from 2006 to 25 th October 2021. The were 154 samples found from cSopus and 50 samples in Web of Science (SCI). Analysis was performed by VOSviewer and biblioshiny. Results: Overall, 154 papers from Scopus and 50 from SCI were analyzed. Scopus and SCI exhibited different research trends. Moreover, papers from Scopus were dominated by Indonesian authors; those from SCI were not. The source growth of published papers in SCI was more dynamic than that in Scopus. The research trends in papers from SCI were more focused on the types of meat and the source itself. This was different to papers in Scopus, which placed greater emphasis on the supply chain. Conclusions: This paper can act as a reference for continued research into halal meat in commodity markets, especially in Islamic countries. This paper is the first to compare the research trends in halal meat in the commodity market by comparing the differences in two major indexes, Scopus and SCI.

Background: People are more aware of halal products in commodity markets. Halal meat is an essential commodity for society in the Islamic commodity market in particular. The objective of this study was to analyze differences in research trends related to halal meat in published papers indexed by Scopus and Web of Science. The objective is to observe how was halal meat as commodity become the trend of research written by Indonesian authors, as well as what was the novelty of the research trend related to such tiopic. Methods: This study used purposive sampling with a bibliometric approach in collecting the samples. The samples were published papers from the Scopus and Web of Science (SCI) databases from 2006 to 25 th October 2021. The were 154 samples found from cSopus and 50 samples in Web of Science (SCI). Analysis was performed by VOSviewer and biblioshiny. Results: Overall, 154 papers from Scopus and 50 from SCI were analyzed. Scopus and SCI exhibited different research trends. Moreover, papers from Scopus were dominated by Indonesian authors; those from SCI were not. The source growth of published papers in SCI was more dynamic than that in Scopus. The research trends in papers from SCI were more focused on the types of meat and the source itself. This was different to papers in Scopus, which placed greater emphasis on the supply chain. Conclusions: This paper can act as a reference for continued research into halal meat in commodity markets, especially in Islamic countries. This paper is the first to compare the research trends in halal meat in the commodity market by comparing the differences in two major indexes, Scopus and SCI.