AL-MUZARA'AH
type: channel
description: AL-MUZARA'AH – Journal of Islamic Economics, is a collaborative journal of the Department of Islamic Economics, IPB University with the Indonesian Association of Islamic Economist (IAEI). The aim of the journal is to communicate and as the media of academic socialization by providing a platform for publication of research in the fields of Islamic economics, Islamic finance, Islamic microfinance, Islamic banking, Islamic insurance, Islamic management, Islamic agriculture and environment, halal industry, Islamic social finance and poverty alleviation, Islamic law and sharia issues in economics and finance, Islamic securitization and sukuk, Islamic capital market, Islamic accounting, Islamic development economics, and other topics related to this area. AL-MUZARA'AH has been Accredited SINTA Rank 2 by Directorate General of Research and Development Strengthening, Ministry of Research, Technology and Higher Education of the Republic of Indonesia (Kemenristekdikti RI) No 158/E/KPT/2021 which is valid for 5 (five) years since enacted on 9 December 2021. AL-MUZARA'AH has been registered in Google Scholar, Crossref, Garda Rujukan Digital (Garuda), Dimensions, and <a href="https://research.ebsco.com/c/ylm4lv/search/results?q=AL-MUZARA%27AH%20-%20Journal%20of%20Islamic%20Economics%20%26%20Finance&autocorrect=y&expanders=fullText&expanders=concept&facetFilter=sourceTypes%3AMTYwTU4%3D&limiters=RV%3AY&qm=W3sidmFsdWUiOiJBTC1NVVpBUkEnQUggLSBKb3VybmFsIG9mIElzbGFtaWMgRWNvbm9taWNzICYgRmluYW5jZSIsInR5cGUiOiJ0ZXh0In1d&resetPageNumber=true&searchMode=all&searchSegment=all-results&skipResultsFetch=true">EBSCO. <a href="https://research.ebsco.com/c/ylm4lv/search/results?q=AL-MUZARA%27AH%20-%20Journal%20of%20Islamic%20Economics%20%26%20Finance&autocorrect=y&expanders=fullText&expanders=concept&facetFilter=sourceTypes%3AMTYwTU4%3D&limiters=RV%3AY&qm=W3sidmFsdWUiOiJBTC1NVVpBUkEnQUggLSBKb3VybmFsIG9mIElzbGFtaWMgRWNvbm9taWNzICYgRmluYW5jZSIsInR5cGUiOiJ0ZXh0In1d&resetPageNumber=true&searchMode=all…
publisher: Department of Islamic Economics, IPB University
language: en
publication name: AL-MUZARA'AH
issn: 2337-6333
copyright: Author(s) who published in this journal agree to following terms: Authors understand and agree that copyright of manuscripts published are held by Al-Muzara'ah. The statement to release the copyright to Al-Muzara'ah is stated in Copyright Transfer Agreement (CTA) form. Copyright encompass exclusive rights to reproduce, to distribute, and to sell any part of the journal articles in all form and media. This work is licensed under a Creative Commons Attribution-ShareAlike 4.0 International License (CC BY-SA) where Authors and Readers can copy and redistribute the material in any medium or format, as well as remix, transform, and build upon the material for any purpose, but they must give appropriate credit (cite to the article or content), provide a link to the license, and indicate if changes were made. If you remix, transform, or build upon the material, you must distribute your contributions under the same license as the original.
items: Comparative Analysis on Sharia Governance in Islamic Non-Profit Organizations across Indonesia, Malaysia and Brunei Darussalam
items: The Impact of Technology on Halal Certification Intentions of MSMEs: A Gender-Based Analysis
items: Management, Empowerment, and Islamic Welfare: Evidence from Livestock Productive Waqf at Al-Azhar Institution Indonesia
items: Analysis the Effect of Sharia Monetary Operations (OMS) on Inflation in Indonesia for the 2019-2021 Period
items: Islamic Modes for Agricultural Financing: Which is the Most Suitable?
items: Optimizing Mosque Waqf Management in Supporting the Achievement of Sustainable Development Goals (SDGs)
items: Amidst Global Uncertainty: Does Islamic Banking Increase Indonesia’s Economic Growth?
items: Muslim Intention to Visit Halal Tourism Destination in West Java: Halal Literacy Mediation Effect
items: Readiness of Road Project Contractors to Use Musharakah: Evidence from Jakarta (Qualitative Study)
items: Strategy to Strengthen the Halal Slaughterhouse Industry in Indonesia
items: The Nexus Between Income Inequality and Environmental Degradation in ASEAN-6 Countries During 1992 – 2015 from Islamic Perspective
items: Profit Increase of Microentrepreneurs through Islamic Microfinance Institution Financing Program (Case Study of BPRS Amanah Ummah)
items: The Impact of Socioeconomic and Behavioral Factors on Health Indicators in OIC Countries
items: Sharia Supervisory Board Characteristics and Anti-Corruption Disclosure: Study of Islamic Banks in Indonesia and Malaysia
items: Mapping Research Landscape on Ijarah Accounting: A Bibliometric Study Based on PSAK 107 Literature
items: Halal Marketing Approaches: A Systematic Review of Strategies, Challenges, and Social Implication
items: The Negative Influence of Viral Marketing and Brand Awareness on Customer Trust and Purchase Decisions of Pro-Israel Products in Banten Province
items: The Analysis of Crowdfunding Implementation as an Alternative Financing for Islamic Microfinance Institution
items: Volatility Dynamics of Islamic and Conventional Equity Portfolios During COVID-19: Evidence from Fama-French and GARCH Models
items: Analysis of the Effect of Outreach on Cooperative Sustainability: The Mediating Role of Capital Deepening
items: Designing the Business Scheme Model of Direct Investment of Indonesian Hajj Funds to The Saudi Food Industry
items: Revisiting Mudharabah Investment Account and Proposal for Improvement – Case of Indonesia
items: Improving the Quality of Life of People with Disability through Zakat: A Zakat Utilization Model Canvas Perspective
items: Evaluating Islamic Bank Efficiency and Productivity in ASEAN: Does Technological Advancement Play a Role?
items: Determinants of Food Waste Behavior in Muslim Household Food Consumption in Indonesia
items: Digital Transparency and Consumer Awareness: Digital Platforms for Educating Consumers about Product Origins and Sustainability
items: Strategic Financial Planning in the Context of Sharia Principles: A Study of Indonesia’s Sandwich Generation
items: Integration between Indonesian Sharia Stock Index and Türkiye Sharia Index Using the Generalized Autoregressive Conditional Heteroscedasticity Model
items: Islamic FinTech and MSMEs: The Role of Religiosity and Product Knowledge
items: Determinant Factors Influencing the Interest in Halal Certification: The Perspective of MSMEs in Indonesia

Comparative Analysis on Sharia Governance in Islamic Non-Profit Organizations across Indonesia, Malaysia and Brunei Darussalam
type: item
description: This study examines the governance practices of Islamic non-profit organizations in Indonesia, Malaysia, and Brunei Darussalam. The thorough examination is conducted through a framework developed based on the standards set by the Islamic Financial Services Board (IFSB), Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI), as well as the core principles of zakat and waqf. A qualitative approach was carried out using content analysis methods from literature reviews, and then NVivo was used to collect, classify, map reports and analyse further about the topics. This study found that sharia NPO governance practices in Indonesia, Malaysia and Brunei Darussalam still need to be explained in detail, as well as several indicators. This study addresses previously unexplored issues, particularly regarding sharia-compliant Non-Profit Organizations (NPOs). In this regard, it pioneers research that examines and compares the governance frameworks of NPOs in Indonesia, Malaysia and Brunei Darussalam. The scope of this research focuses on regional areas with a global Muslim majority, namely Indonesia, Malaysia and Brunei Darussalam. Practitioners in the field of sharia-compliant NPOs can utilise this research as a reference and policy foundation. This action can help in advancing social initiatives cross-country level and can be a reference for establishing governance framework standards in sharia-based NPOs with practitioners and experts in the field.
subject: Articles
  topic: section
subject: Content analysis
  topic: keywords
subject: cross-country comparison
  topic: keywords
subject: Islamic non-profit organizations
  topic: keywords
subject: sharia compliance
  topic: keywords
subject: sharia governance
  topic: keywords
creator: Laily Dwi Arsyianti
creator: Irfan Syauqi Beik
creator: Nur Laili Ab Ghani
creator: Muhamad Abduh
creator: Adora Aurahma
creator: Arifia Marsila Hayati
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 155
ending page: 171
doi: 10.29244/jam.13.2.155-171

The Impact of Technology on Halal Certification Intentions of MSMEs: A Gender-Based Analysis
type: item
description: This study aims to identify the main determinants influencing MSMEs in applying for halal certification through digital media, using a combination of the DeLone & McLean and UTAUT models, with a comparison between male and female MSME owners. The PLS-SEM Multi-Group Analysis (MGA) approach was employed as the evaluation method in this quantitative study, using SmartPLS 3.0. A total of 300 respondents met the required criteria. The findings show that service quality is not a major determinant for the male group. On the other hand, for the female group, system quality does not significantly influence intention to apply halal certificate. Several other constructs, such as performance expectancy, effort expectancy, social influence, and information quality, show similar results across both groups, while facilitating condition does not have a significant impact on either male or female groups. These findings provide practical implications, particularly for policymakers. The government should improve performance, ease of use and information clarity for MSMEs. For male MSMEs, focus on system quality and customer support, while for female MSMEs, extension officer assistance would be more effective in encouraging halal certificate applications.
subject: Articles
  topic: section
subject: Gender
  topic: keywords
subject: halal certification
  topic: keywords
subject: MSME
  topic: keywords
subject: multi group analysis
  topic: keywords
subject: technology
  topic: keywords
creator: Yan Putra Timur
creator: Ririn Tri Ratnasari
creator: Anwar Allah Pitchay
creator: Usman Jamilu
creator: Dyah Permata Sari
creator: Firdan Thoriq Faza
creator: Muhammad Rifqi
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 297
ending page: 315
doi: 10.29244/jam.13.2.297-315

Management, Empowerment, and Islamic Welfare: Evidence from Livestock Productive Waqf at Al-Azhar Institution Indonesia
type: item
description: Productive waqf has become a means to improve community welfare through various economic-based programs. This is inseparable from the role of waqf fund management by professional Nazir, accompanied by community empowerment. Al-Azhar Indonesia's livestock waqf program has shown good management and empowerment results, but it has not been clearly illustrated how much the influence of productive waqf management and empowerment on the welfare of mauquf 'alaih, especially measured in spiritual welfare or maqashid sharia. This study aims to prove that productive waqf management and empowerment affect the Islamic welfare through the livestock waqf program at the Al-Azhar Indonesia Institute. The research method uses descriptive quantitative methods with data collection methods through distributing questionnaires and interviews. The data analysis technique uses the Partial Least Square-Structural Equation Model (PLS-SEM) with Smart PLS software version 4. The results showed that the management and empowerment of productive waqf positively and significantly affected the Islamic welfare. The livestock waqf program run by the Al-Azhar Indonesia Institute can significantly improve material and spiritual welfare with the level of influence of management on the Islamic welfare of 0.333 or 33.3% while the level of influence of empowerment on the Islamic welfare is 0.617 or 61.7%. The level of welfare achieved during the livestock waqf program is seen in increasing income, worship, fulfilling primary needs, knowledge and skills, as well as health and education.
subject: Articles
  topic: section
subject: Empowerment
  topic: keywords
subject: Islamic welfare
  topic: keywords
subject: livestock
  topic: keywords
subject: management
  topic: keywords
subject: mauquf 'alaih
  topic: keywords
creator: Siti Zuraedah Rahmah
creator: Wildan Munawar
creator: Imam Abdul Aziz
creator: Adi Rahmannur Ibnu
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 285
ending page: 296
doi: 10.29244/jam.13.2.285-296

Analysis the Effect of Sharia Monetary Operations (OMS) on Inflation in Indonesia for the 2019-2021 Period
type: item
description: Monetary policy is the government's effort to maintain, increase, or decrease the amount of money in circulation in order to sustain economic growth and combat inflation. Monetary policy in the form of Sharia Open Market Operations can be implemented by issuing Bank Indonesia Sharia Certificates (SBIS), Minimum Reserve Requirements (GWM), and Standing Facilities, such as Bank Indonesia Sharia Deposit Facilities (FASBIS). This study is novel because it uses comparative effectiveness analysis, different observation periods, and has undergone classical assumption testing. The purpose of this study is to describe and assess the effects of SBIS, FASBIS, and GWM on Indonesian inflation from 2019 to 2021. The research data is sourced from the Financial Services Authority (OJK) website. Multiple linear regression analysis was performed using the Eviews 10 software. The results showed that SBIS has no significant effect on inflation, FASBIS has a significant and negative effect on inflation, and GWM has a significant and positive effect on inflation. FASBIS and GWM can explain 79.7% of inflation, with other factors accounting for the remaining 20.3%. Islamic banking must improve its financial performance by utilizing FASBIS instruments more efficiently.
subject: Articles
  topic: section
subject: Bank Indonesia Sharia Certificate (SBIS)
  topic: keywords
subject: Bank Indonesia Sharia Deposit Facility (FASBIS)
  topic: keywords
subject: inflation
  topic: keywords
subject: monetary policy
  topic: keywords
subject: sharia open market operations
  topic: keywords
creator: Karlita Anggini
creator: Fitriyatustany Fitriyatustany
creator: Citra Atrina Sari
creator: Resfa Fitri
creator: Neneng Hasanah
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 271
ending page: 283
doi: 10.29244/jam.13.2.271-283

Islamic Modes for Agricultural Financing: Which is the Most Suitable?
type: item
description: The agricultural sector is a primary sector in a country, contributing to GDP, providing raw materials for industry, and ensuring food and nutritional security. Additionally, the agricultural sector often proves to be a stabilizing force for the national economy during economic crises. One financing model suitable for this sector is the sharia-compliant financing scheme. This study employs a bibliometric analysis to explore the extent of research on Islamic financing models for the agricultural sector, analyzing 41 Scopus-indexed journal articles. Six main themes emerge: conceptualizing Islamic agricultural financing, waqf technology for SDGs in agribusiness, risk management in Islamic agricultural credit, Islamic finance for agricultural projects, economic growth through Islamic agricultural finance, and Islamic Microfinance Institutions (IMFIs) in agricultural finance. The analysis identifies the most suitable Islamic financing modes as integrated salam contracts with IMFIs, Waqf Trustee-Anchor Company models for agribusiness on waqf land and crowdfunding models with salam contracts and muzaraah waqf. Additionally, qard-al-hasan, muzaraah, and aPLS (agricultural Production and Loss Sharing) scheme with ujrah principles are recommended for unproductive land development. Policymakers in the agricultural sector can leverage these findings to enhance the role of Islamic finance in fostering agricultural development, particularly in countries with a majority Muslim population.
subject: Articles
  topic: section
subject: Agricultural financing
  topic: keywords
subject: Islamic financing
  topic: keywords
subject: Islamic microfinance institutions
  topic: keywords
subject: Islamic modes
  topic: keywords
subject: sharia-compliant financing
  topic: keywords
creator: Rodame Monitorir Napitupulu
creator: Aam Slamet Rusydiana
creator: Wahyu Ario Pratomo
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 253
ending page: 270
doi: 10.29244/jam.13.2.253-270

Optimizing Mosque Waqf Management in Supporting the Achievement of Sustainable Development Goals (SDGs)
type: item
description: This paper examines how optimizing the management of mosque waqf (Islamic endowments) can support the achievement of the United Nations Sustainable Development Goals (SDGs). It explores the conceptual linkages between mosque waqf and sustainable development, analyzes the diverse roles of mosque waqf in addressing SDG targets, and proposes strategies for enhancing the efficiency and impact of mosque waqf management. The article discusses the potential of mosque waqf to contribute to poverty reduction, promotion of health and well-being, quality education, and environmental sustainability. It highlights the need for modernizing waqf management practices, drawing on principles of good governance, financial management, and social impact, to unlock the full potential of mosque waqf in supporting sustainable development initiatives.
subject: Articles
  topic: section
subject: Faith-based community development
  topic: keywords
subject: Islamic philanthropy
  topic: keywords
subject: mosque waqf
  topic: keywords
subject: Sustainable Development Goals (SDGs)
  topic: keywords
subject: waqf management
  topic: keywords
creator: Mochammad Arif Budiman
creator: Aliyu Dahiru Muhammad
creator: Manik Mutiara Sadewa
creator: Andriani Andriani
creator: Nabila Fatiha Rizqina
creator: Muhammad Mumtaza Rifqi
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 239
ending page: 252
doi: 10.29244/jam.13.2.239-252

Amidst Global Uncertainty: Does Islamic Banking Increase Indonesia’s Economic Growth?
type: item
description: Global economic uncertainty has caused shocks in various economic sectors in Indonesia. The establishment of Islamic banking in Indonesia is projected to address and mitigate the challenges posed by global economic uncertainty. Our study aims to to evaluate the financial performance of Islamic banking institutions by employing the RGEC methodology, encompassing variables such as risk profile, Good Corporate Governance (GCG), earning ratios, and capital ratios. The proposed hypotheses were assessed through panel data regression employing the Random Effect Model (REM) approach. The findings reveal that, partially, GCG, NOM, and CAR exhibit a significant negative influence on economic growth, while ROA demonstrates a significant positive impact on Indonesia's economic expansion. Conversely, NPF, and BOPO do not exhibit significant effects, but overall, the robust financial performance of Islamic banks is a pivotal factor in accelerating Indonesia's economic growth. This study emphasizes on Islamic banks in Indonesia, drawing data from twelve Islamic commercial banks, thus establishing a solid empirical basis for addressing global economic uncertainty and facilitating more valid generalizations pertinent to the Indonesian Islamic banking sector. It is imperative for the government and relevant entities to consistently ensure that Islamic banks effectively fulfill their intermediary role and expand their market share, thereby enhancing economic growth in Indonesia.
subject: Articles
  topic: section
subject: Economic growth
  topic: keywords
subject: financial performance
  topic: keywords
subject: global economic uncertainty
  topic: keywords
subject: Islamic banking
  topic: keywords
creator: Maddani Akhsa Nulyani
creator: Julia Noermawati Eka Satyarini
creator: Muhammad Ady Mahfuzh
creator: Nurfitri Harkunti Kemala Hayati
creator: Mochamad Rizki
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 221
ending page: 238
doi: 10.29244/jam.13.2.221-238

Muslim Intention to Visit Halal Tourism Destination in West Java: Halal Literacy Mediation Effect
type: item
description: Tourism serves as a gateway to several industrial sectors that are vital to the country's economy. This study aims to investigate the variables influencing the Muslim intention to travel to West Java's halal tourism destination. The Theory of Planned Behaviour (TPB), which is composed of Perceived Behavioural Control (PBC), Attitude towards Behaviour (ATB), and Subjective Norms (SN), is used in this study. In addition, electronic word-of-mouth (e-WOM) and an intervening variable called Halal Literacy (HL) were included in this study. The Partial Least Square Structural Equation Modelling (PLS-SEM) analytical method will be applied in this study with 210 respondents. The study's findings demonstrate that HL and PBC influence the Muslim intention to travel to West Java's halal tourism destinations. In addition, PBC and SN significantly influence HL. However, ATB, e-WOM and SN do not influence to Muslim intention. Additionally, PBC and SN significantly impact to Muslim intention indirectly through halal literacy. Muslim populations should increase halal literacy including halal tourism. Internet media can provide valuable information about reviews of current halal tourist attractions. The synergy between the government, industry players and other stakeholders to support the halal tourism ecosystem in West Java needs to be carried out.
subject: Articles
  topic: section
subject: Electronic word-of-mouth
  topic: keywords
subject: halal literacy
  topic: keywords
subject: halal tourism
  topic: keywords
subject: theory of planned behaviour
  topic: keywords
creator: Lu'liyatul Mutmainah
creator: Listia Andani
creator: Nuryanti Taufik
creator: Iffah Hafizah
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 201
ending page: 219
doi: 10.29244/jam.13.2.201-219

Readiness of Road Project Contractors to Use Musharakah: Evidence from Jakarta (Qualitative Study)
type: item
description: The Islamic banking industry in Indonesia has received full support from the government, manifested in comprehensive policies, e.g., Islamic Banking Roadmap, Islamic Finance Architecture and other programs. The government is also focusing on infrastructure development, including roads. The success of this program is determined mainly by construction services companies or contractors. During the last 10 years, on average there have been more than 200,000 contractors in Indonesia. Musharakah is suitable for construction companies because its characteristics are similar to their work model, namely cooperation. This study aims to determine the readiness of contractors to use musharakah financing. It employed the qualitative method. The sample was private infrastructure contractors in Jakarta working on national road projects. Data was collected through interviews. The study revealed that many private contractors were not familiar with musharakah financing because of their low awareness of Islamic banks. The study suggests that Islamic banks should make initiatives to serve the corporate segment. By combining information from different entities, the results offer valuable insights into how the contractors are a potential segment for Islamic banks, a segment that is currently the government's priority.
subject: Articles
  topic: section
subject: Construction firms
  topic: keywords
subject: Islamic bank
  topic: keywords
subject: musharakah
  topic: keywords
subject: road projects
  topic: keywords
creator: Mohamad Torik Langlang Buana
creator: Nuradli Ridzwan Shah Mohd Dali
creator: Amrizal Amrizal
creator: Eko Tama Putra Saratian
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 189
ending page: 199
doi: 10.29244/jam.13.2.189-199

Strategy to Strengthen the Halal Slaughterhouse Industry in Indonesia
type: item
description: There are three types of slaughterhouse management in Indonesia, namely: by the government, individuals and the private sector, each with different management standards. This research aims to analyze strategies for strengthening halal slaughterhouses. The analysis method uses Analytical Hierarchy Process (AHP) and Important Performance Analysis (IPA) from expert judgment data representing bureaucrats, academics and practitioner. The results of the AHP show that the priority strategy for strengthening the halal slaughterhouse industry is certification for slaughterhouses and meat retailers as well as training for halal slaughterhouses and human resources. Halal performance attributes that are prioritized be improved by the three slaughterhouse managements are hygienic carcass cutting process and the presence of halal supervisors.
subject: Articles
  topic: section
subject: Analytical Hierarchy Process
  topic: keywords
subject: halal slaughterhouses
  topic: keywords
subject: Important Performance Analysis
  topic: keywords
subject: strategy
  topic: keywords
creator: Sri Mulatsih
creator: Supratikno Supratikno
creator: Ach Firman Wahyudi
rights: Copyright (c) 2025 AL-MUZARA'AH http://creativecommons.org/licenses/by-sa/4.0
date: 2025-12-24
publication date: 2025-12-24
starting page: 173
ending page: 188
doi: 10.29244/jam.13.2.173-188

The Nexus Between Income Inequality and Environmental Degradation in ASEAN-6 Countries During 1992 – 2015 from Islamic Perspective
type: item
description: The purpose of the study is to examine the relationship between income inequality and environmental degradation in ASEAN-6 countries namely Indonesia, Malaysia, the Philippines, Thailand, Singapore, and Vietnam. It also provide analysis from the Islamic perspective based on result of the econometric regression. The study utilizes annual panel data from1992 until 2015 where the region suffered from high income distribution and environmental degradation. The analytical tool used in the study is Bias-Corrected Least Squared Dummy Variable (LSDVC), which is sufficient for small panel data. The methodological approach leads to two main findings. First, income inequality, measured by Gini coefficient, is contributing to environmental degradation (proxied by CO₂ emission and Natural Resources Depletion) in the short- and long-run term. Other explanatory variables namely GDP per capita and energy consumption, also impact significantly on environmental degradation level in the short- and long-term. From the findings, it is recommended that greater investment is required in addressing high level of income inequality and environmental issues. Instruments in Islam such as zakat and waqf provide solution to overcome issue of high income gap and environmental degradation in ASEAN-6 countries, moreover majority of Muslim population located in ASEAN countries. Hence, collaboration should be enhanced among the ASEAN-6 countries where wealth distribution, technology and knowledge sharing from high income countries to low and middle-income in ASEAN countries to mitigate the negative impact of high income inequality and environmental issue in the region.
subject: Articles
  topic: section
subject: ASEAN
  topic: keywords
subject: environmental degradation
  topic: keywords
subject: income inequality
  topic: keywords
creator: Rininta Nurrachmi
creator: Jarita Duasa
creator: Muhammad Irwan Arifin
creator: Rafia Afroz
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-06-28
publication date: 2024-06-28
starting page: 159
ending page: 175
doi: 10.29244/jam.12.1.159-175

Profit Increase of Microentrepreneurs through Islamic Microfinance Institution Financing Program (Case Study of BPRS Amanah Ummah)
type: item
description: The development of micro-business sector in Indonesia is one of the efforts to reduce poverty. Bank Pembiayaan Rakyat Syariah (BPRS) Amanah Ummah is an Islamic microfinance institution that enables microentrepreneurs in Bogor regency to secure capital. The funding provided by BPRS Amanah Ummah is expected to increase their business income while contributing to reduce poverty levels in Bogor regency. The aim of this research was to analyze how the distribution of Islamic microfinance from BPRS Amanah Ummah affects the profit increase of microentrepreneurs. It also analyzes the factors that affect the profit of microenterprises in Bogor. This study uses a descriptive approach combined with quantitative and qualitative approaches. The effect of the Financing Program of Islamic Microfinance Institutions (LKMS) against the profit increase of microenterprises was evaluated using the Ordinary Least Square (OLS) method. The result shows that the LKMS financing program increases profits. This is evidenced by the change in microenterprise profit after securing financing. In addition, there are several variables that can increase profits such as the duration of business, the number of employees involved, the frequency of capital received, business turnover, and level of education. The conclusion of the research is that financing provided by BPRS Amanah Ummah yields a positive and significant effect in increasing the profits of microentrepreneurs in Bogor regency.
subject: Articles
  topic: section
subject: BPRS
  topic: keywords
subject: micro and small enterprises
  topic: keywords
subject: Ordinary Least Square (OLS)
  topic: keywords
subject: paired t-test
  topic: keywords
subject: profit
  topic: keywords
creator: Ageng Prasetyo
creator: Jaenal Effendi
creator: Irfan Syauqi Beik
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-04
publication date: 2025-06-04
starting page: 1
ending page: 9
doi: 10.29244/jam.13.1.1-9

The Impact of Socioeconomic and Behavioral Factors on Health Indicators in OIC Countries
type: item
description: Health sector indicators are important basis of determining the overall state of a nation’s wealth and welfare. Apart from this broad and conventional perspective on the role of health, in many Islamic countries, health is also part of objective of ‘maqashid sharia’ that needs to be maintained to sustain life. Accordingly, countries invest substantial share of national resources to sustain critical health systems. Notwithstanding these commitments, health service delivery remains a major challenge in these countries, as indicated by the low average life expectancy and the high mortality rate caused by communicable diseases. This study aims to describe and analyze the factors influencing health outcomes, namely life expectancy and mortality rate, in Muslim countries using secondary data from 46 OIC countries from 2010-2018. Employing panel data estimation, the study finds evidence suggesting the important role of a nation’s wealth, health expenditure, educational achievement and the prevalence of smoking as important determinants of life expectancy in OIC countries. In particular, the results show that high incidence of communicable diseases in countries with lower than mean years of schooling and those with significantly wide prevalence of smoking habits may have contributed to high mortality in these countries.
subject: Articles
  topic: section
subject: Education
  topic: keywords
subject: inequality
  topic: keywords
subject: life expectancy
  topic: keywords
subject: mortality rates
  topic: keywords
subject: smoking behavior
  topic: keywords
creator: Astiani Susanto
creator: Mohammad Iqbal Irfany
creator: Bumi Camara
creator: Daffa Aqomal Haq
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-04
publication date: 2025-06-04
starting page: 27
ending page: 46
doi: 10.29244/jam.13.1.27-46

Sharia Supervisory Board Characteristics and Anti-Corruption Disclosure: Study of Islamic Banks in Indonesia and Malaysia
type: item
description: Corruption continues to pose a substantial challenge for corporations globally, including financial institutions that comply with sharia principles. Islamic banks must prioritize transparency and accountability, as these elements are essential for maintaining ethical governance and revealing their anti-corruption efforts. Despite the growing focus on Anti-Corruption Disclosure (ACD), corruption cases within Islamic banks continue to occur, highlighting concerns regarding the efficacy of Islamic governance mechanisms. This research analyzes the influence of Sharia Supervisory Board (SSB) attributes—namely, number, cross-membership, expertise level, educational qualifications, reputation, and rotation—on ACD. This research employs a quantitative approach, utilizing panel data regression to analyze Islamic banks in Indonesia and Malaysia during the period 2020–2021. The sample, chosen via purposive sampling, includes 16 Islamic banks from a total population of 37, according to established criteria. According to the results, ACD is considerably affected by the number of SSB members, but it is not significantly affected by cross-membership, expertise, educational background, reputation, or rotation. The results provide light on how SSB traits affect ACD improvement and add to the broader conversation on Islamic governance and company transparency.
subject: Articles
  topic: section
subject: Anti-Corruption
  topic: keywords
subject: corruption
  topic: keywords
subject: disclosure
  topic: keywords
subject: Islamic banks
  topic: keywords
subject: Sharia Supervisory Board (SSB)
  topic: keywords
creator: Fedi Ameraldo
creator: Asri Yuliani
creator: Marsi Fella Rizki
creator: Abdullah Jihad Rabaya
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-04
publication date: 2025-06-04
starting page: 11
ending page: 26
doi: 10.29244/jam.13.1.11-26

Mapping Research Landscape on Ijarah Accounting: A Bibliometric Study Based on PSAK 107 Literature
type: item
description: The development of ijarah accounting in Indonesia is in line with the growth of the Islamic financial sector which continues to show a positive trend. Compliance with the Statement of Financial Accounting Standards (PSAK), particularly PSAK 107 on Ijarah Accounting, is crucial in ensuring transparency and accountability of financial statements of Islamic financial institutions. However, although PSAK 107 has been in effect since 2010, in-depth and sustained academic studies on this topic are still limited, especially in the Indonesian context. To comprehensively explore the research on PSAK 107, a bibliometric review was conducted using Scopus and Crossref academic databases. ScienceDirect and Emerald Insight academic databases were used for data updates, covering the period 2014-2024 for Scopus and 2019-2024 for Crossref. Article metadata from Scopus and Crossref downloaded on April 17, 2024 were processed using BibTeX and RIS formats with R Studio and VOSviewer software. This collaborative study categorizes research themes on PSAK 107 using metadata from 1187 articles indexed in Scopus and Crossref between 2014 and 2024. The mapping visualization results show that the dominant themes are PSAK 107 and Ijarah, while topics such as Accounting, Ijarah Contracts, Ijarah Financing, and Islamic Profitability are identified as potential research opportunities. Another important finding is the dominance of contributions from Malaysia and Pakistan, with very little representation of research from Indonesia. This indicates a significant literature gap on the implementation and development of Ijarah accounting based on PSAK 107 in Indonesia. In addition, a number of topics such as Sukuk Ijarah, Accountability, and Ujrah are relatively under-researched, thus offering great room for further scientific exploration. Therefore, this study emphasizes the urgency for researchers in Indonesia to fill the literature gap to strengthen local understanding and contribute to the global di…
subject: Articles
  topic: section
subject: Bibliometric
  topic: keywords
subject: biblioshiny
  topic: keywords
subject: ijarah
  topic: keywords
subject: PSAK 107
  topic: keywords
creator: Hastuti Olivia
creator: Azizah Saban
creator: Ja'far Hamzah Pulungan
creator: Nathasyah Putri Maharanni
creator: Nurdelima Tanjung
creator: Muhammad Abdul Arip
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-04
publication date: 2025-06-04
starting page: 47
ending page: 59
doi: 10.29244/jam.13.1.47-59

Halal Marketing Approaches: A Systematic Review of Strategies, Challenges, and Social Implication
type: item
description: Halal, meaning "lawful and permitted," is deeply rooted in Islamic philosophy and teachings. Halal marketing refers to the strategies and approaches used to promote and sell products that comply with halal standards. This systematic review aims to examine the various marketing approaches utilized in promoting halal products. Some critics argue that the emphasis on halal products can lead to exclusion and division within societies, as it may prioritize catering to a specific religious group over others. They contend that promoting halal products exclusively may create a sense of segregation and hinder social integration. Utilizing the PRISMA method and analyzing publication from Scopus database. The study investigates diverse marketing technique used in promoting halal products. Several countries were included in this review, including Indonesia, Malaysia, Turkey, Arab Saudi, and the United Arab Emirates. The result of this review will provide insights into the marketing approaches that have been successful in promoting halal products and highlight any potential implications of these strategies on social integration. The finding suggest that halal marketing approaches vary across different countries, with a focus on building trust, emphasizing authenticity, and utilizing digital platforms. Based on the findings of this systematic review, it can be concluded that there are diverse marketing approaches used in promoting halal products. The study recommends future research explore of the impact of halal marketing on social integration and the potential for inclusive marketing strategies that can cater to a diverse consumer.
subject: Articles
  topic: section
subject: Halal marketing
  topic: keywords
subject: halal products
  topic: keywords
subject: inclusivity
  topic: keywords
subject: social integration
  topic: keywords
subject: systematic literature review
  topic: keywords
creator: Husna Leila Yusran
creator: Yolanda Masnita
creator: Jati Kasuma Ali
creator: Yuana Jatunilawati
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-04
publication date: 2025-06-04
starting page: 61
ending page: 75
doi: 10.29244/jam.13.1.61-75

The Negative Influence of Viral Marketing and Brand Awareness on Customer Trust and Purchase Decisions of Pro-Israel Products in Banten Province
type: item
description: This study investigates the influence of viral marketing, brand awareness, and trust on the purchase decisions of pro-Israel products in Banten Province. Anchored in the Stimulus-Organism-Response (SOR) theory, the research conceptualizes viral marketing and brand awareness as external stimuli (S), consumer trust as the internal organismic state (O), and purchase decisions as the behavioural response (R). The study employs a purposive sampling technique targeting individuals who previously purchased pro-Israel products but have since discontinued or become more selective in their choices. Data were collected through an online survey involving 278 respondents and analyzed using Structural Equation Modelling (SEM) with AMOS 23. The results indicate that viral marketing and brand awareness have a significant negative effect on consumer trust. Furthermore, viral marketing, brand awareness, and trust each have a negative influence on purchase decisions regarding pro-Israel products. These findings underscore the mediating role of trust within the SOR framework, highlighting how consumer perceptions shaped by external marketing stimuli impact ethical decision-making. The study concludes that brands operating in sensitive socio-political contexts must carefully manage their marketing communications to maintain trust and consumer alignment. These insights provide valuable implications for marketers aiming to influence behaviour through ethical and culturally sensitive branding strategies.
subject: Articles
  topic: section
subject: Brand awareness
  topic: keywords
subject: product pro-Israel
  topic: keywords
subject: purchase decision
  topic: keywords
subject: trust
  topic: keywords
subject: viral marketing
  topic: keywords
creator: Muhammad Nurhaula Huddin
creator: Nafiudin Nafiudin
creator: Purbo Jadmiko
creator: Muhamad Abduh
creator: Fitriatus Saadah
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-04
publication date: 2025-06-04
starting page: 77
ending page: 94
doi: 10.29244/jam.13.1.77-94

The Analysis of Crowdfunding Implementation as an Alternative Financing for Islamic Microfinance Institution
type: item
description: Islamic Microfinance Institutions (IMFIs) play a crucial role in delivering financial services to Micro, Small, and Medium Enterprises (MSMEs), thereby advancing financial inclusion and fostering economic empowerment. Despite their significance, IMFIs frequently encounter major constraints, particularly limited access to capital. In contrast, technological advancements have introduced innovative and efficient financing alternatives, most notably in the form of financial technology (fintech). This study investigates the potential for collaboration between IMFIs and fintech, with a particular emphasis on crowdfunding as a financing mechanism. It seeks to identify the benefits and opportunities, alongside the costs and risks, associated with the implementation of fintech-based crowdfunding as an alternative financing source for IMFIs. Adopting a critical review research paradigm and a mixed-method epistemological approach, the study employs two key methodologies: (1) the development of a typology outlining the benefits, opportunities, costs, and risks of collaboration; and (2) the application of the Analytic Network Process (ANP), using the typology as the foundation for model construction. Findings indicate that experts generally perceive the benefits and opportunities of such collaboration to outweigh the associated costs and risks. Notable advantages include enhanced access to capital and the cultivation of a more robust investment culture within IMFIs. On the other hand, key concerns include infrastructural limitations and the potential for capital loss. To mitigate these risks and maximize collaborative benefits, the study highlights the importance of strengthening institutional management across both IMFIs and fintech platforms.
subject: Articles
  topic: section
subject: ANP-BOCR
  topic: keywords
subject: crowdfunding
  topic: keywords
subject: fintech
  topic: keywords
subject: IMFIs
  topic: keywords
creator: Diva Azka Karimah
creator: Luqyan Tamanni
creator: Indra Indra
creator: Mohammad Bintang Pamuncak
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-16
publication date: 2025-06-16
starting page: 95
ending page: 107
doi: 10.29244/jam.13.1.95-107

Volatility Dynamics of Islamic and Conventional Equity Portfolios During COVID-19: Evidence from Fama-French and GARCH Models
type: item
description: This paper examines the performance and volatility of Islamic equity portfolios in contrast to their conventional counterparts during the pre-pandemic, COVID-19 pandemic, and post-pandemic periods. Using daily data gathered from February 2019 to December 2023, this study employs the Fama-French factor models alongside GARCH-type models to evaluate risk-adjusted returns and volatility of portfolios. Furthermore, shariah screening rules, particularly those related to debt ratios, are integrated into the portfolio construction process to assess their influence on performance. The results show that while Islamic equity portfolios generally deliver lower returns, they demonstrate significantly lower volatility. This relation implicitly suggests a trade-off between risk and return, which are amplified further during periods of market stress. These findings contribute to the growing literature on Islamic finance by demonstrating the stability provided by shariah-compliant equity portfolios. Future research may explore sector-specific performance or extend the framework to other economies.
subject: Articles
  topic: section
subject: Fama-French model
  topic: keywords
subject: GARCH
  topic: keywords
subject: Indonesia
  topic: keywords
subject: Islamic equity portfolios
  topic: keywords
subject: volatility
  topic: keywords
creator: Muhammad Barry Haikal
creator: Risna Triandhari
creator: Raden Parianom
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-20
publication date: 2025-06-20
starting page: 109
ending page: 126
doi: 10.29244/jam.13.1.109-126

Analysis of the Effect of Outreach on Cooperative Sustainability: The Mediating Role of Capital Deepening
type: item
description: Indonesia is experiencing a serious inactivity of cooperatives, initially the number of active cooperatives was 209,448 units (2014) but has decreased to 130,119 units (2023) or a decrease of 79,328 units. This research aims to defined the effect of cooperative outreach on the sustainability of sharia saving and loan cooperatives (SLC). SLCs endeavor to elevate support provision to members. Mutually beneficial will be reached if financial and non-financial services (NFS) provided in a balanced manner. Utilizing data via questionnaires from 11 provinces in Indonesia or 32.3% of the total provinces, linear regression, mediation and moderation analysis were carried out. The analysis technique uses Structural Equation Model Partial Least Square (SEM PLS). The findings show a negative relationship between outreach and sustainability. Meanwhile, capital deepening has a positive effect and has a mediating effect on sustainability. However, NFS were found to have no moderating effect on this relationship. This research concludes that SLCs have to take a look at the capitals strength to maintain outreach, and should be wise regarding non-financial services. As a recommendation, the delivery of NFS needs a carefully consideration because apart from adding costs it also does not support the sustainability of the institution.
subject: Articles
  topic: section
subject: Capital deepening
  topic: keywords
subject: cooperative
  topic: keywords
subject: non-financial services
  topic: keywords
subject: outreach
  topic: keywords
subject: sustainability
  topic: keywords
creator: Bambang Wahyudiono
creator: Hendri Tanjung
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-20
publication date: 2025-06-20
starting page: 127
ending page: 140
doi: 10.29244/jam.13.1.127-140

Designing the Business Scheme Model of Direct Investment of Indonesian Hajj Funds to The Saudi Food Industry
type: item
description: Diversification of investment in hajj funds is also needed in the real sector to optimize the portfolio and sustainable development of hajj finance. This study analyzes the potential for direct investment in the supply of raw materials to meet the needs of catering and processed food by the Indonesian Hajj Fund Management Agency in Saudi Arabia’s food industry. This research utilized a qualitative approach and used data and regulations from authorities and regulators in Indonesia and Saudi Arabia. All available data is used to design direct investment models using contracts complying with ethical and fair investment principles. The results depicted two alternative investment schemes: executing a joint venture or establishing a subsidiary. Murabaha and parallel salam can carry out the business contract schemes. Using the murabaha scheme, the risk of fluctuations in exchange rates and commodities can be controlled by setting the margins. Meanwhile, salam contracts are explicitly made for orders obtained from local suppliers to avoid the risk of exchange rate fluctuations. This research is limited to the condition of hajj financial management in Indonesia and Saudi Arabia. However, this research is expected to improve the literature on the management of hajj finance and provide an alternative way for innovative and sustainable direct investment performed by the Indonesian Hajj Financial Management Agency.
subject: Articles
  topic: section
subject: Direct investment
  topic: keywords
subject: food industry
  topic: keywords
subject: hajj fund
  topic: keywords
subject: Saudi Arabia
  topic: keywords
creator: Rifaldi Majid
rights: Copyright (c) 2025 AL-MUZARA'AH
date: 2025-06-26
publication date: 2025-06-26
starting page: 141
ending page: 154
doi: 10.29244/jam.13.1.141-154

Revisiting Mudharabah Investment Account and Proposal for Improvement – Case of Indonesia
type: item
description: The rapid growth of Islamic banks is accompanied by various innovations in Islamic financial transactions which generally seem to follow the product diversity and risk profile of conventional banks. This innovation is also carried out in the application of mudharabah particularly in the Profit-Sharing Investment Account (PSIA). Mudharabah, whose original form is equity, has been adapted by Islamic banks by treating it just like a normal deposit whith the exception that the profit is calcualted based on a ratio, resulting difficulties to distinguish it from conventional bank deposits which are debt in nature. This research aims to evaluate the implementation of mudharabah in PSIA in Indonesia, by conducting field survey and interviews with parties whom responsible for managing it and comparing it with Sharia Standard issued by Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) and fatwas of National Sharia Council of Indonesian Ulama Council (DSN-MUI). The research revealed that although PSIA return is calculated using profit distribution ratio (as mudharabah core feature), it lacks other main features of mudharabah, be it in its nature or profit or loss determination method. To rectify this deviation, this research proposes an operational model of mudharabah termed “the Quasi Equity Model", which meets the main features of mudharabah as envisaged by AAOIFI and DSN-MUI. This study contributes to the field of Islamic finance by not only identifying existing discrepancies but also proposing a practical model for addressing them, thus aligning it back to sharia principles within Islamic banking practices.
subject: Articles
  topic: section
subject: AAOIFI
  topic: keywords
subject: mudharabah
  topic: keywords
subject: profit sharing investment accounts
  topic: keywords
subject: sharia compliance authority
  topic: keywords
creator: Afrid Wibisono
creator: Hermanto Siregar
creator: Rifki Ismal
creator: Nirdukita Ratnawati
creator: Ahmad Faizal Ismail
rights: Copyright (c)
date: 2024-12-02
publication date: 2024-12-02
starting page: 195
ending page: 216
doi: 10.29244/jam.12.2.195-216

Improving the Quality of Life of People with Disability through Zakat: A Zakat Utilization Model Canvas Perspective
type: item
description: Islam upholds the principle of equality for all individuals, regardless of their disability status. The sole distinction between people lies in their level of piety. However, in reality, people with disabilities (PWD) continue to face various forms of discrimination, ranging from education and employment to societal stigma, hindering their ability to improve their quality of life. Furthermore, the exclusion of PWD from the economy can result in a national GDP loss of up to 7% per year. Zakat optimization presents a potential solution to enhance the lives of PWD. In this context, PWD can be classified under the asnaf of fakir (the poor) and/or miskin (the destitute). Their categorization as fakir stems from their limitations in meeting basic needs, while their classification as miskin is supported by data and research indicating a strong correlation between disability and poverty. Unfortunately, the attention given to PWD within the zakat system remains relatively low. Therefore, employing a qualitative research methodology, this paper delves into the distribution of zakat in the disability sector and proposes an integrated distribution model for PWD. This model entails grouping PWD based on their age and work capabilities before providing appropriate assistance. Additionally, utilizing the Zakat Utilization Model Canvas (ZUMC), this paper explores the ideal planning framework for disability programs that can be implemented by zakat institutions. ZUMC adopts a holistic approach, considering not only the commercial aspects of programs but also the empowerment of mustahik (zakat recipients) in each element. This paper aims to contribute to the still-limited research on zakat and disability in Indonesia.
subject: Articles
  topic: section
subject: Consumptive
  topic: keywords
subject: disability
  topic: keywords
subject: productive
  topic: keywords
subject: zakat
  topic: keywords
subject: Zakat Utilization Model Canvas
  topic: keywords
creator: Aisha Putrina Sari
creator: Dita Anggraini
creator: Ulfah Lathifah Junari
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-12-02
publication date: 2024-12-02
starting page: 217
ending page: 231
doi: 10.29244/jam.12.2.217-231

Evaluating Islamic Bank Efficiency and Productivity in ASEAN: Does Technological Advancement Play a Role?
type: item
description: Amid the economic crises triggered by the COVID-19 pandemic, sustainable financial systems have become essential for resilience and recovery, particularly in ASEAN countries where Islamic banks play a crucial role in economic stability. The purpose of this study is to evaluate the performances of the Islamic Bank in the ASEAN countries in terms of both efficiency and productivity. This study provides insights into 33 Islamic banks in Indonesia, Malaysia, Brunei Darussalam, Thailand, and the Philippines from 2015 to 2022. This study employs the Data Envelopment Analysis (DEA) technique and the Malmquist Productivity Index (MPI) to simultaneously attain elevated levels of efficiency and productivity. The result shows that Maybank Islamic Berhad was considered the most efficient and productive Islamic Bank within ASEAN countries. In terms of significant elements, it was discovered that shifts in technology capabilities have a greater magnitude of effect on Islamic banking productivity in ASEAN than shifts in innovation strategies and operational efficiencies. The findings also show that Islamic banks in ASEAN region experienced a growth in banking performance during the research period. This implies that the Islamic banking sector demonstrated enhanced performance despite the adverse effects of the COVID-19 pandemic. This study suggests that all ASEAN Islamic banks must continue to enhance the quality of their technology in order to raise their efficiency and generate more productivity in the future.
subject: Articles
  topic: section
subject: ASEAN
  topic: keywords
subject: efficiency
  topic: keywords
subject: Islamic bank
  topic: keywords
subject: productivity
  topic: keywords
subject: technological advancement
  topic: keywords
creator: Ririn Riani
creator: Ihsanul Ikhwan
creator: Aam Slamet Rusydiana
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-12-03
publication date: 2024-12-03
starting page: 233
ending page: 255
doi: 10.29244/jam.12.2.233-255

Determinants of Food Waste Behavior in Muslim Household Food Consumption in Indonesia
type: item
description: Islam forbids wasteful behavior in all activities, yet Indonesia, with the world's largest Muslim population, is the second largest contributor to food loss and waste, with household consumption being the largest contributor. This study examines the factors influencing tabzir (food waste) behavior in Indonesian Muslim households and their relationship with religiosity in reducing tabzir behavior. The method used was a survey of 529 Muslim household respondents, and data analysis was performed using the structural equation modeling–partial least squares (SEM-PLS) approach. The results showed that routine shopping and eating habits had a positive impact on food waste; the worse the shopping behavior and eating habits, the more food wasted. On the other hand, awareness, religiosity, religious norms, and knowledge negatively influence food waste. Thus, the better the level of awareness, knowledge, religiosity, and religious norms, the less food is wasted. While awareness, knowledge, religiosity, and religious norms can help lessen food waste, they are insufficient without regulations on unethical consumption.
subject: Articles
  topic: section
subject: Household food consumption
  topic: keywords
subject: sustainability
  topic: keywords
subject: tabzir behavior
  topic: keywords
creator: Deni Lubis
creator: Ahmad Rodoni
creator: Euis Amalia
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-12-03
publication date: 2024-12-03
starting page: 257
ending page: 275
doi: 10.29244/jam.12.2.257-275

Digital Transparency and Consumer Awareness: Digital Platforms for Educating Consumers about Product Origins and Sustainability
type: item
description: This paper investigates the role of digital transparency in enhancing consumer awareness of product origins and sustainability. As consumers increasingly seek to make informed, ethically aligned purchasing decisions, digital platforms - such as blockchain-enabled systems, mobile apps, and e-commerce sites - offer a medium for brands to communicate supply chain transparency. Through a comprehensive literature review, this article examines how transparency practices impact consumer trust, decision-making, and the adoption of sustainable products. Findings reveal that while digital platforms can significantly influence ethical consumption, their effectiveness depends on the clarity, accessibility, and perceived credibility of information presented. Key challenges, including greenwashing and information overload, can hinder transparency efforts, thereby reducing consumer trust. Additionally, stakeholder theory and the theory of planned behaviour provide insights into the ethical responsibilities of brands and the cognitive factors shaping consumer choices. Practical recommendations are offered, including the need for simplified, interactive transparency tools and collaboration with third-party certifiers to enhance authenticity. The study highlights the importance of evolving digital transparency practices to meet the ethical demands of modern consumers and suggests ways for future research to explore the impact of transparency across diverse consumer segments and regions.
subject: Articles
  topic: section
subject: Consumer awareness
  topic: keywords
subject: digital platforms
  topic: keywords
subject: digital transparency
  topic: keywords
subject: sustainability
  topic: keywords
creator: Bakyt Tolegenov
creator: Kevin Rafif
creator: Muhammad Rafi
creator: Rafidah Herawati
creator: Asaduddin Abdullah
creator: Linda Karlina Sari
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-12-03
publication date: 2024-12-03
starting page: 277
ending page: 287
doi: 10.29244/jam.12.2.277-287

Strategic Financial Planning in the Context of Sharia Principles: A Study of Indonesia’s Sandwich Generation
type: item
description: This study investigates the factors influencing the intention of Indonesia's sandwich generation to adopt sharia-compliant financial planning. With a focus on attitudes, knowledge, subjective norms, financial self-efficacy, and religiosity, this research aims to clarify how these elements shape the behavioral intentions of individuals responsible for financially supporting both older and younger family members. Using the Theory of Planned Behavior as a framework, the study conducted a survey across key regions of Java and applied PLS-SEM for data analysis. The findings reveal that while attitudes and knowledge have a limited direct effect on the intention to engage in sharia-compliant financial planning, subjective norms, financial self-efficacy, and religiosity exhibit a significant positive influence. These results underscore the importance of social support, personal financial confidence, and religious values in fostering sharia-compliant financial behavior within this demographic. The study provides insights for policymakers and financial institutions aiming to enhance financial literacy and sharia-compliant practices among Indonesia’s sandwich generation.
subject: Articles
  topic: section
subject: Religiosity
  topic: keywords
subject: sandwich generation
  topic: keywords
subject: sharia financial planning
  topic: keywords
subject: subjective norms
  topic: keywords
subject: theory of planned behavior
  topic: keywords
creator: Abdullah Haidar
creator: Evania Herindar
creator: Fauziah Chairiyati
creator: Nur Hendrasto
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-12-10
publication date: 2024-12-10
starting page: 289
ending page: 309
doi: 10.29244/jam.12.2.289-309

Integration between Indonesian Sharia Stock Index and Türkiye Sharia Index Using the Generalized Autoregressive Conditional Heteroscedasticity Model
type: item
description: Indonesia and Türkiye are countries with a large number of followers of Islam. These two countries have a lot of cooperation in various activities. This study aims to measure the integration between Islamic capital markets in Indonesia and Türkiye. For the Indonesian Islamic capital market index, the Indonesian Islamic Stock Index (ISSI) is used, while for Türkiye, the Borsa Katilim (KATLM) is used. Using the Generalised Autoregressive Conditional Heteroscedasticity (GARCH) method, it was found that during the observation year, although there was a lot of cooperation, the activities of these two countries were not integrated. This can provide ideas for further research related to why there is a lot of cooperation between countries but it does not result in integration.
subject: Articles
  topic: section
subject: GARCH
  topic: keywords
subject: integration
  topic: keywords
subject: Islamic capital market
  topic: keywords
subject: Islamic index
  topic: keywords
creator: Siti Rahayu
creator: Peni Sawitri
creator: Salih Ülev
creator: Fathiyakan
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-12-17
publication date: 2024-12-17
starting page: 311
ending page: 319
doi: 10.29244/jam.12.2.311-319

Islamic FinTech and MSMEs: The Role of Religiosity and Product Knowledge
type: item
description: As the backbone of the national economy which is still struggling with the financing problem, prior studies on the intention to use Islamic FinTech for MSMEs are still rare. This study aims to examine whether both the religiosity (R) and product knowledge (PK) on Islamic FinTech products and services affect the intention to adopt it or not. A total of 100 responses were collected using an online questionnaire and then examined using structural equation modeling (SEM). The results show that subjective norm (SN), perceived usefulness (PU), as well as R, and PK significantly influence the intention to get financing and use the services offered. It is indicated that Indonesian MSMEs actors are getting aware and knowledgeable about sharia compliance of FinTech products. Likewise, the influence of social norms such as religious leaders and or the business environment also strengthens the intention. This means that there is a need for continuous efforts from the stakeholders by cooperating with sharia scholars in improving the Islamic financial literacy in order to eliminate the doubts on the practical side. This needs to be followed by strengthening consumer data protection as well as providing incentives in order to enlarge the industrial market share.
subject: Articles
  topic: section
subject: Financing
  topic: keywords
subject: Islamic Fintech
  topic: keywords
subject: MSMEs
  topic: keywords
subject: product knowledge
  topic: keywords
subject: religiosity
  topic: keywords
creator: Rifaldi Majid
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-12-23
publication date: 2024-12-23
starting page: 321
ending page: 335
doi: 10.29244/jam.12.2.321-335

Determinant Factors Influencing the Interest in Halal Certification: The Perspective of MSMEs in Indonesia
type: item
description: The halal industry is overgrowing, including in Indonesia, with the largest Muslim population in the world. Indonesia is ranked 19th as a producer and ranked 3rd as a consumer in the global halal industry. Although one of the halal certifications for MSMEs is free, only 1% of MSMEs in Indonesia are already halal certified. This study aims to analyze empirically the factors that influence the intensity of MSMEs in Indonesia to register for halal certification. A quantitative approach is used in this research by distributing questionnaires using the Likert scale to MSMEs. A total of 122 valid data collected were analyzed by adopting SEM-PLS. The analysis found that external factors had a dominant influence on the intention of MSMEs to register their products in halal certification, consumer pressure with a t-statistic of 4.328, and government policies with a t-statistic of 2.976. Moreover, one of the internal factors, awareness, is accepted with a t-statistic of 2.065. Meanwhile, benefits, competitors, and religiosity are not proven to affect halal certification. The data will help plan interventions from the government to encourage MSMEs to register their products in halal certification. The government should focus on assisting halal certification for MSMEs intensively.
subject: Articles
  topic: section
subject: External factors
  topic: keywords
subject: halal certification
  topic: keywords
subject: intentions
  topic: keywords
subject: internal factors
  topic: keywords
subject: MSMEs
  topic: keywords
creator: Maulida Dwi Agustiningsih
creator: Ravika Mutiara Savitrah
creator: Novita Nurul Islami
creator: Putri Catur Ayu Lestari
rights: Copyright (c) 2024 AL-MUZARA'AH
date: 2024-12-23
publication date: 2024-12-23
starting page: 337
ending page: 353
doi: 10.29244/jam.12.2.337-353