Perbanas Journal of Islamic Economics and Business
Perbanas Journal of Islamic Economics and Business is a is a peer-reviewed journal published by Islamic Economics Program, Faculty of Economics and Business, Perbanas Institute. It is dedicated to the development, implementation and evaluation of Islamic Economics and Business.
Institut Keuangan-Perbankan Dan Informatika Asia Perbanas
The Effect of DPK, NPF, and FDR on the Profitability of Islamic Banking in Indonesia
The primary objective of this study is to investigate the impact of Third-Party Funds (DPK), Non-Performing Financing (NPF), Financing to Deposit Ratio (FDR), Capital Adequacy Ratio (CAR), and Mudharabah Financing on the profitability of Islamic Banking in Indonesia over the 2020-2024. The research used secondary data obtained from published monthly financial yearly reports of Islamic banking institutions. A quantitative approach was applied, and multiple regression analysis utilized to examine the relationships between variables. To attain a holistic perspective of fiscal results, profitability was assessed by resulting both Return on Assets (ROA) and Return on Equity (ROE) as primary metrics. The finding indicates that DPK and FDR substantial positive influence on both ROA and ROE. While CAR demonstrates a statistically significant upward impact on ROE, its correlation with ROA was found to be negligible. Mudharabah Financing significantly affects ROA but does not influence ROE. Meanwhile, Non-Performing Financing (NPF) exhibits no discernible statistical impact on either measure of profitability, suggesting its influence is marginal in this context. Musyarakah Financing was excluded from the model due to multicollinearity issues identified during testing. Simultaneously, all independent variables significantly influence profitability. These results suggest that affective financial ratio management plays an important role in enhancing the profitability within the Islamic banking sector.
Copyright (c) 2026 Yohan Ari Sandi Ramadhan, Inayati Nuraini Dwiputri
Transformasi Perilaku Keuangan Digital: Studi QRIS dan Literasi Keuangan dalam Perspektif Islam
Pemanfaatan teknologi keuangan yang semakin berkembang telah mengubah pola transaksi masyarakat menuju penggunaan sistem pembayaran digital yang semakin luas, salah satunya melalui Quick Response Code Indonesian Standard (QRIS). Namun, tingginya tingkat penggunaan teknologi pembayaran digital belum tentu diikuti oleh peningkatan kualitas perilaku keuangan penggunanya. Penelitian ini memiliki kebaruan dengan mengkaji transformasi perilaku keuangan digital sebagai variabel terikat yang dipengaruhi oleh penggunaan QRIS dan literasi keuangan pada pengguna aplikasi DANA dalam perspektif pengelolaan keuangan digital. Tujuan penelitian ini adalah menganalisis pengaruh penggunaan QRIS dan literasi keuangan terhadap transformasi perilaku keuangan digital pada pengguna aplikasi DANA di Kota Bandar Lampung. Penelitian ini menggunakan pendekatan kuantitatif dengan desain survei. Sebanyak 100 responden dipilih menggunakan teknik purposive sampling. Data diperoleh melalui penyebaran kuesioner dan dianalisis menggunakan regresi linear berganda. Hasil penelitian menunjukkan bahwa penggunaan QRIS tidak berpengaruh signifikan terhadap transformasi perilaku keuangan digital dengan nilai signifikansi sebesar 0,366 (>0,05). Sebaliknya, literasi keuangan berpengaruh positif dan signifikan terhadap transformasi perilaku keuangan digital dengan nilai signifikansi sebesar 0,000 (<0,05). Selain itu, koefisien determinasi menunjukkan bahwa penggunaan QRIS dan literasi keuangan secara simultan mampu menjelaskan 85,4% variasi transformasi perilaku keuangan digital, sedangkan sisanya sebesar 14,6% dipengaruhi oleh faktor lain di luar model penelitian. Temuan ini menegaskan bahwa literasi keuangan merupakan faktor yang lebih dominan dalam mendorong transformasi perilaku keuangan digital dibandingkan penggunaan teknologi pembayaran digital semata. Oleh karena itu, penguatan literasi keuangan perlu terus ditingkatkan sebagai strategi untuk meningkatkan kualitas pengelolaan keuangan masyarakat di tengah pesatnya perkembangan ekosistem keuangan digital.
Copyright (c) 2026 intan Suri Mahardika Pertiwi
Konsep Pemberian Insentif Perspektif Muamalah Islami pada Agency PT Manulife Syariah Indonesia Tahun 2026
Industri asuransi jiwa syariah Indonesia memasuki fase konsolidasi seiring kewajiban pemisahan unit usaha syariah, dan agen tetap menjadi tulang punggung distribusi sekaligus titik paling rawan ketika imbalan dirancang. Penelitian ini menelaah skema kompensasi agency pada PT Asuransi Jiwa Manulife Indonesia Syariah sebagaimana diatur Memo Kompensasi Agency 2026, lalu menilainya dari perspektif muamalah Islami. Tujuannya menganalisis konsep insentif agen syariah, mengkaji praktik kompensasi berlapis yang mencakup First Year Commission, Second Year Commission, Renewal Year Commission, Quarterly Production Bonus, Basic Commission Override, referral bonus, serta generation, quality generation, dan lifetime override, dan menilai kesesuaiannya dengan prinsip ujrah, wakalah bil ujrah, keadilan, transparansi, amanah, dan maslahah. Pendekatan yang dipakai bersifat kualitatif dengan rancangan studi kasus deskriptif-analitis berbasis analisis dokumen terhadap memo, fatwa Dewan Syariah Nasional, dan literatur primer yang dilengkapi wawancara dan observasi-partisipan, dianalisis secara tematik. Analisis menunjukkan komisi langsung (FYC, SYC, RYC) tergolong ujrah yang sah atas jasa penjualan dan pemeliharaan polis, sedangkan override dan lifetime override menuntut penegasan akad samsarah atau ju'alah serta bukti kontribusi nyata agar tidak menjadi imbalan struktural belaka. Pengaitan bonus produksi dengan Premium Persistency Ratio dan faktor persistensi dipandang positif karena menahan dorongan mengejar volume semata, sementara syarat lisensi syariah memperkuat kepatuhan. Penelitian ini mengusulkan model evaluasi lima prinsip, yaitu kejelasan akad, kelayakan jasa, keadilan imbalan, kualitas penjualan, dan kepatuhan syariah, sebagai instrumen menilai sistem kompensasi agen asuransi syariah agar berorientasi maslahah
Governing Hajj Dam for Livestock Empowerment and Nutrition in Indonesia: A Fiqh Al-Awlawiyyat Model
Stunting and protein deficiency remain serious challenges in Indonesia, while the annual economic potential of Hajj Dam (hadyu), estimated at approximately IDR 380 billion, has not been systematically linked to livestock empowerment and national nutrition programs. This study develops an Islamic economic governance model connecting Hajj Dam, mustahik breeder empowerment through BAZNAS Livestock Center, and the Free Nutritious Meal (MBG) Program, using Fiqh al-Awlawiyyat as a normative justification framework. The study applies a sequential exploratory mixed-methods design with qualitative dominance. Qualitative data were drawn from five key documents: Hajj Dam regulations, Dam tariff decrees, BAZNAS reports, the 2025 NU National Conference framework, and 2026 Hajj statistics. A field pilot involved 15 mustahik breeders managing 37 Priangan sheep in Subang and Ciamis from February to April 2026. The findings show that, of 140,536 Dam payments, 38,499 heads (27.4%) were allocated for domestic slaughter, valued at approximately IDR 104 billion. The small pilot generated a site-level profit of IDR 400,000-700,000 per head in one cycle, with total profit of IDR 19.3 million. These figures should be interpreted as preliminary feasibility evidence rather than generalizable impact estimates. The benefit-cost ratio (BCR) ranges from 1.09 to 1.21 before final distribution costs, but may fall to approximately 0.90-1.14 under 5%-20% distribution-cost scenarios. The proposed model includes Dam payment channeling, livestock procurement from mustahik breeders, halal slaughtering and processing, and distribution of meat to stunting-priority regions through MBG. The study contributes to Islamic economics by shifting the Dam debate from a predominantly jurisprudential issue toward governance, economic feasibility, supply-chain management, and risk mitigation.
Copyright (c) 2026 Sudisto Sudisto, Erni Juliana Al Hasanah Nasution
Apakah Intellectual Capital Meningkatkan Profitabilitas? Bukti Empiris dari Berbagai Sektor di Indonesia
Penelitian ini bertujuan menguji pengaruh intellectual capital (IC) terhadap profitabilitas perusahaan di Indonesia. Menggunakan 2.105 observasi perusahaan-tahun dari perusahaan yang terdaftar di Bursa Efek Indonesia pada 2020–2024, penelitian ini mengukur IC menggunakan Value Added Intellectual Coefficient (VAIC) beserta komponennya. Menggunakan Ordinary Least Squares (OLS) dan mengendalikan efek tahun dan industry, hasil penelitian kami menunjukkan bahwa IC berpengaruh positif terhadap profitabilitas perusahaan. Ketiga komponen IC, yaitu HCE, SCE, dan CEE, juga berkontribusi positif terhadap profitabilitas, dengan SCE sebagai komponen yang dominan. Analisis tambahan mengungkap bahwa pengaruh IC bersifat heterogen dan cenderung lebih kuat pada sektor-sektor yang bergantung pada pengetahuan dan aset tidak berwujud, seperti pada perusahaan yang tergabung dalam Indeks Saham Syariah Indonesia (ISSI), perusahaan berteknologi rendah dan perusahaan berukuran besar. Temuan ini memperluas literatur IC dan Resource-Based View dengan menyediakan bukti empiris lintas sektor dari konteks negara berkembang sekaligus menegaskan pentingnya investasi pada sumber daya manusia, infrastruktur organisasi, dan pengelolaan modal yang efisien sebagai strategi untuk meningkatkan profitabilitas dan mempertahankan keunggulan kompetitif berbasis pengetahuan.
Copyright (c) 2026 Rohmat Mahfuddin, Arief Budiman, Muis Murtadho, Yulia Setyarini
Pengaruh Kondisi Makroekonomi Terhadap Indeks Saham Syariah Indonesia Periode 2014-2025
The Islamic capital market serves as an investment instrument that plays an important role in supporting national economic development. Changes in the Indonesia Sharia Stock Index (ISSI), which acts as an indicator of the Islamic capital market, are presumed to be influenced by various macroeconomic conditions. Unlike previous studies that generally focused only on the relationship between certain macroeconomic variables and ISSI, this study integrates economic growth, inflation, the BI Rate, exchange rate, and a dummy variable into a single model to analyze their effects on ISSI in both the short and long run. This quantitative study employs quarterly time-series data and utilizes the Vector Error Correction Model (VECM) as the analytical method. The cointegration test results indicate the existence of a long-run equilibrium relationship among the variables. The VECM estimation results show that, in the short run, economic growth, inflation, the BI Rate, exchange rate, and the dummy variable do not have a significant effect on ISSI, while the Error Correction Term (ECT) has a negative and significant effect, indicating the existence of a long-run equilibrium relationship. In the long run,
Copyright (c) 2026 Hesti Diah Ayuni, Hayet Hayet
The Paradox Of Perpetuity: When Wakaf Khas (Specific Waqf) Becomes Frozen Assets In Malaysia: A Critical Analysis
The institution of waqf (Islamic endowment) is a cornerstone of Islamic social finance, intended to provide perpetual socioeconomic benefits to the Muslim community. However, in Malaysia, an estimated 87% of the 30,000 hectares of waqf land remains underdeveloped, resulting in billions of ringgits in “frozen” assets. A significant yet underexplored contributor to this phenomenon is the overproliferation of wakaf khas (specific waqf), in which donors strictly limit the use of their endowments to highly specific purposes that may become obsolete, unviable, or redundant over time. This article provides a comprehensive and analytical examination of the wakaf khas dilemma in Malaysia. It critically analyses the Islamic jurisprudential maxim “the condition of the waqif is like the text of the Lawgiver” (شَرْطُ الوَاقِفِ كَنَصِّ الشَّارِعِ) against the higher objectives of Shariah (maqasid al-shariah) and the principle of public interest (maslahah). The article evaluates the legislative frameworks across all 14 Malaysian states, focusing on the provisions for istibdal (substitution) as a remedy for frozen assets. By integrating contemporary fatwas and assessing the governance structures of State Islamic Religious Councils (SIRCs), this paper argues for a paradigm shift from rigid legal formalism to a welfare-oriented, maqasid-driven approach to unlock the economic potential of wakaf khas in Malaysia. The study employs a qualitative doctrinal legal methodology, combining content analysis of primary Islamic legal texts (turath), statutory instruments, and fatwa resolutions with critical comparative analysis across the four Sunni schools of thought and beyond.
Copyright (c) 2026 Mohammad Hidir Baharudin, Umbas Krisnanto, Jasman Jasman, Rahmawati Mohd Yusoff
Pemahaman Perempuan Muslim di Pedesaan terhadap Isu Halal pada Kosmetik Lokal
The issue of halal in cosmetics has become a significant concern among Muslim communities, particularly for women who use cosmetic products for daily needs. This study aims to explore the understanding of Muslim women in Tanjung Selamat Village, Deli Serdang, regarding the concept of halal in local cosmetics. Using a qualitative approach and a phenomenological design, data were collected through in-depth interviews and participatory observations. The findings reveal that religiosity is a key factor influencing the informants' understanding and preferences for halal cosmetics. Social norms play an important role in reinforcing collective consumption patterns, while knowledge about halal certification remains limited to basic aspects, such as raw materials. Preferences for local brands, such as Wardah and Mustika Ratu, are driven by good accessibility and high cultural relevance. This study highlights the importance of community-based halal education to improve halal literacy in rural areas and the need for product innovation to meet the increasingly diverse needs of consumers. The practical implications of this study suggest that local cosmetic producers should strategically integrate cultural and religious values into their marketing efforts to more effectively reach consumer segments in rural areas. The novelty of this study lies in its exploration of rural contexts, which have rarely been the focus of similar research, thereby making a significant contribution to the development of literature on halal consumption.
Copyright (c) 2025 Sry Lestari Samosir, Abdul Rahman Matondang
Pengembangan Artefak Film Studio Alam Gamplong Sebagai Wisata Kreatif dan Islamic Entrepreneurship
This study aims to examine the development of film artifacts at Gamplong Nature Studio as a basis for creative tourism that incorporates Islamic entrepreneurship principles. This study focuses on understanding film artifacts as not only props used for film production, but also as cultural resources that have creative economic value and educational potential related to the film industry. This study also examines the possibility of developing film-based tourism. In addition, this study aims to create a model for utilizing film artifacts as learning tools, promotional tools, and marketing strategies for film tourism destinations. Furthermore, this study also investigates how Islamic entrepreneurship principles, which include business ethics, justice, sustainability, and community empowerment, are applied in film tourism destination management. To achieve these objectives, this study uses a descriptive qualitative approach that utilizes source and time triangulation techniques through documentation, field observations, and in-depth interviews. The results show that film artifacts at Gamplong Nature Studio have educational and economic value. By combining media design and visual communication, the image of Gamplong Nature Studio as a film tourism destination and a center for creative economy development has been proven strong. Islamic entrepreneurship principles are evident in the practice of collaborative leadership, courage to take measured risks, orientation towards future planning, and the implementation of Islamic social entrepreneurship and CSR. The implemented management model also impacts local MSMEs, creates jobs, and sustains tourist destinations. Overall, the results of this study provide conceptual and empirical contributions to the advancement of film-based creative tourism in Indonesia, centered on Islamic entrepreneurial values.
Copyright (c) 2026 Anggra Agastyassa Owie
Pengaruh Sentimen Investor, Pengungkapan ESG, Kinerja Keuangan Terhadap Return Saham Syariah
Pasar modal di Indonesia terus mengalami perkembangan pesat, termasuk sektor energi yang menarik minat investor karena ketersediaan sumber daya alam yang melimpah. Pasar modal syariah, yang berlandaskan prinsip syariah, juga menunjukkan pertumbuhan signifikan, tercermin dari kenaikan Indeks Saham Syariah Indonesia sebesar 15,19% pada 2022. Para investor di sektor energi mengharapkan return saham yang optimal dengan risiko minimal, sehingga berbagai faktor seperti kinerja keuangan, sentimen investor, dan pengungkapan ESG semakin dipertimbangkan dalam pengambilan keputusan investasi. Namun, terdapat ketidakpastian mengenai sejauh mana faktor-faktor tersebut mempengaruhi return saham, terutama dalam konteks pasar modal syariah. Beberapa penelitian menunjukkan bahwa kinerja keuangan dapat menjadi indikator utama return saham, sementara sentimen investor dan pengungkapan ESG memberikan hasil yang bervariasi. Penelitian ini dilakukan untuk mengkaji bagaimana sentimen investor, pengungkapan ESG, dan kinerja keuangan yang diukur melalui ROA memengaruhi return saham perusahaan sektor energi yang terdaftar di ISSI selama periode 2021-2022. Penelitian ini menawarkan kebaruan dengan mengintegrasikan sentimen investor, pengungkapan ESG, dan kinerja keuangan secara simultan dalam konteks pasar modal syariah sektor energi, yang masih relatif terbatas dikaji pada perusahaan terdaftar di ISSI periode pascapandemi. Dalam pemilihan sampel dengan teknik purposive sampling yang menghasilkan 13 perusahaan yang dianalisis dengan metode analisis regresi linier berganda. Berdasarkan hasil pengujian, ditemukan bahwa TVA dan ESG tidak memberikan pengaruh terhadap RT. Namun, ROA memiliki pengaruh terhadap RT. Investor sebaiknya lebih memprioritaskan analisis kinerja keuangan, khususnya ROA, dalam pengambilan keputusan investasi pada saham syariah sektor energi, sementara perusahaan perlu meningkatkan efisiensi pengelolaan aset untuk menarik investor di pasar modal syariah.
Komparasi Efisiensi Bank Bjb Syariah dan Bank Bjb Konvensional Sebelum dan Selama Pandemi Covid-19
Tujuan dilakukannya penelitian ini adalah untuk menganalisis serta mencari perbandingan tingkat efisiensi Bank BJB Syariah dan Bank BJB Konvensional sebelum dan saat pandemi Covid-19. Novelty penelitian ini berfokus pada pengukuran efisiensi dan komparasi hanya melalui kinerja dua bank BPD yang berada dalam satu induk perusahaan, yaitu Bank BJB Syariah dan Bank BJB Konvensional, yang keduanya merupakan bagian dari PT Bank BJB Tbk serta untuk mengetahui dampak yang ditimbulkan pandemi Covid-19 terhadap sistem kedua bank. Metode penelitian yang digunakan pada penelitian kali ini adalah metode kuantitatif untuk menghitung tingkat efisiensi Bank BJB Syariah Tbk dan Bank BJB Konvensional Tbk. Dengan variabel yang digunakan yaitu terdiri dari Total aset, Dana Pihak Ketiga, dan Beban Operasional adalah variabel input-nya. Sedangkan Kredit/Pembiayaan dan Pendapatan Operasional adalah variabel output-nya. Periode sampel sebelum pandemi dihitung dari 2017 hingga 2019, dan periode sampel selama pandemi dihitung dari 2020 hingga 2022. Selama periode 2022 Bank BJB Konvensional mencapai efisiensi sempurna sedangkan bank BJB Syariah juga hampir mencapai efisiensi sempurna, akan tetapi terdapat inefisiensi pada kuartal kedua. Perbandingan tersebut dapat dikatakan bahwasannya kinerja Bank BJB Syariah tidak kalah baik karena hampir menyusul pencapaian efisiensi dari kinerja Bank BJB Konvensional yang mengalami efisiensi selama 1 tahun pada periode 2022. Dari penelitian ini membuktikan bahwa Bank BJB Syariah dan Bank BJB Konvensional sering mengalami inefisiensi pada beberapa variabelnya baik sebelum dan saat pandemi covid-19 dengan adanya fluktuasi pada kinerjanya, yang mengakibatkan terjadinya inefisiensi pada beberapa kuartal.
Copyright (c) 2025 Nurul Fadilah, Ninda Ardiani
Dampak Mobile Banking Syariah dan E-Wallet Syariah terhadap Pengelolaan Keuangan Mahasiswa: Peran Pinjaman Online Syariah sebagai Moderasi
Penelitian ini bertujuan untuk menganalisis pengaruh mobile banking syariah dan dompet elektronik syariah terhadap pengelolaan keuangan pribadi, dengan pinjaman online syariah sebagai variabel moderasi, pada mahasiswa di wilayah Jabodetabek. Penelitian ini memiliki kebaruan dalam mengintegrasikan variabel pinjaman online syariah sebagai moderasi, yang belum banyak dijelajahi dalam konteks pengelolaan keuangan pribadi di kalangan mahasiswa, khususnya dalam ekosistem keuangan syariah. Penelitian ini juga memperkaya literatur terkait adopsi teknologi finansial syariah dalam kehidupan sehari-hari, yang semakin relevan seiring dengan meningkatnya tren digitalisasi layanan keuangan. Metode yang digunakan dalam penelitian ini adalah asosiatif dengan pendekatan kuantitatif dalam mengolah dan menganalisis data yang diperoleh melalui kuesioner. Metode pengambilan sampel yang digunakan dalam penelitian ini adalah purposive sampling, dengan jumlah sampel sebanyak 100 mahasiswa dari wilayah Jabodetabek, dengan alokasi masing-masing 20 mahasiswa dari masing-masing wilayah. Teknik analisis yang digunakan adalah PLS-SEM dan aplikasi SmartPLS. Hasil penelitian ini menunjukkan bahwa mobile banking syariah tidak berpengaruh terhadap pengelolaan keuangan pribadi, sedangkan dompet elektronik syariah berpengaruh. Lebih lanjut, dengan pinjaman online sebagai faktor moderasi, mobile banking syariah memperlemah (negatif) pengelolaan keuangan pribadi, sedangkan dompet elektronik syariah memperkuat (positif) pengelolaan keuangan pribadi. Implikasi dari penelitian ini menunjukkan bahwa penyedia layanan keuangan syariah perlu lebih berhati-hati dalam mempromosikan layanan mobile banking, terutama yang terkait dengan pinjaman online karena dapat menyebabkan pengelolaan keuangan yang kurang sehat di kalangan mahasiswa. Sebaliknya dompet elektronik syariah berpotensi memberikan manfaat lebih besar dalam membantu mahasiswa mengelola keuangan mereka dengan lebih baik, terutama jika dipadukan dengan fitur pinjaman yang berbasis syariah. Penelitian ini memberikan wawasan penting bagi pengambil kebijakan dan penyedia layanan keuangan dalam meningkatkan edukasi keuangan di kalangan mahasiswa serta mendorong penggunaan teknologi finansial syariah yang lebih bertanggung jawab.
Copyright (c) 2025 Fangky Antoneus Sorongan, Fannisa Fannisa
Implementasi Sertifikasi Halal Gratis (SEHATI) dengan Skema Self Declare pada Pelaku UMK di Wilayah Mojokerto
Indonesia memilik penduduk Muslim terbesar, yaitu 245.97 juta dan 26,1 juta UMK dengan 4.38 juta orang bergerak di sektor makanan dan minuman. Kehalalan produk makanan dan minuman di UMK, seperti di wilayah Mojokerto, menjadi pertimbangan penting bagi konsumen dalam memilih produk. Program SEHATI skema self declare dari BPJPH Kemenag RI memungkinkan pelaku UMK memperoleh sertifikat halal secara gratis. Penelitian ini menggunakan metode fenomenologi dengan observasi, wawancara dan pendampingan sebagai data primer, serta buku, jurnal, dan website sebagai data sekunder. Penelitian ini bertujuan mengidentifikasi masalah pelaku UMK serta memberikan sosialisasi dan pendampingan PPH agar produk mereka dapat tersertifikasi halal. Hasil penelitian menunjukkan banyak pelaku UMK yang belum cakap digital, kurang pengetahuan, rendah kesadaran, dan menghadapi kendala dalam pengajuan SEHATI skema self declare. Temuan kebaruan dalam penelitian ini, yaitu perbandingan persamaan dan perbedaan pendampingan SEHATI skema self declare di Mojokerto dengan dua wilayah lainnya, seperti pelaksanaan oleh akademisi atau Pendamping PPH dan jumlah sasaran pelaku UMK. Implikasi SEHATI skema self declare di wilayah Mojokerto adalah peningkatan daya saing produk UMK, jumlah UMK bersertifikat halal meningkat dan kepercayaan konsumen terhadap produk yang aman, bersih, dan halal. Kegiatan ini berlangsung dari September 2023 hingga Juli 2024, mendampingi delapan pelaku UMK di antaranya produk roti, makanan-minuman, dan produk masak lainnya. Saran untuk penelitian selanjutnya adalah mengadakan evaluasi dan diskusi berkala setiap 6 bulan untuk mempertemukan para pelaku UMK di wilayah Mojokerto dan sekitarnya, serta mengadakan Forum Good Discussion untuk mempromosikan produk UMK antar wilayah jika ada kebutuhan produk yang tidak tersedia di wilayah asal pelaku UMK
Copyright (c) 2025 Abdul Halim, Muhammad Ersya Faraby
Praktik Hutang Piutang Antara Anak Buah Kapal Dengan Pemilik Kapal Pada Masyarakat Nelayan Perspektif Ekonomi Islam
Tujuan penelitian ini adalah untuk menentukan tinjauan ekonomi islam terhadap praktik hutang piutang yang terjadi anatara anak buah kapal dan pemilik kapal di desa kalibuntu kecamatan Kraksaan Kabupaten Probolinngo. Penelitian ini melakukan penelitian kualitatif deskriptif. dengan pendekatan fenomenologi. Pendekatan fenomenologi dalam studi Islam menguraikan makna gejala sehingga gejala dapat dipahami dan diterapkan dalam ajaran normative. kegiatan-kegiatan keagamaan, institusi-institusi keagamaan, tradisi-tradisi dan keagamaan. informan dalam penelitian ini adalah anak buah kapal yang berjumlah 4 orang di desa kraksaan, dan juragan kapal (pemilik kapal) berjumlah 2 orang). Adapun objek penelitian ini adalah system hutang piutang yang sudah menjadi tradisi pada masyarakat nelayan desa karkasaan kabupaten Pronbolinggo. Teknik pengumpulan data dalam penelitian ini didasarkan pada data data yang dikumpulkan melalui survei awal ke lokasi penelitian, pengamatan (observasi), wawancara dan dokumentasi. system hutang piutang dan system kontrak kerja antara anak buah kapal dan si pemilik kapal, maka diperbolehkan atau dianjurkan tanpa ada unsur komersial di dalamnya. Dengan mempertimbangkan hal-hal di atas, sistem ini dapat dilaksanakan hanya jika kedua belah pihak, yaitu si juragan, telah mencapai kesepakatan. dan si anak buah kapal. Jika hutang si anak buah kapal belum lunas, maka tidak diperbolehkan pindah kapal. Jika anak buah kapal tersebut ingin pindah kapal, semisal tidak menemukann kecocokan dalam bekerja dengan tim pada kapal tersebut, maka ia harus segera melunasi hutangnya dan segera berpindah ke kapal lain sesuai kesepakatan awal.
Copyright (c) 2025 Zahida I'tisoma Billah, Khusnudin Khusnudin
Analisis Pembiayaan Sektor Pengangkutan dan Komunikasi Berdasarkan Jenis Penggunaan Akad pada Perbankan Syariah di Indonesia
Sektor pengangkutan dan komunikasi merupakan salah satu sektor penting dalam perekonomian Indonesia yang mampu menyediakan sarana dan prasarana dalam menunjang aktivitas ekonomi, termasuk integrasi perekonomian antar wilayah. Pengembangan sektor ini membutuhkan dukungan perbankan, terutama perbankan syariah, dalam menyediakan akses permodalan melalui penyaluran pembiayaan. Penelitian ini bertujuan untuk menganalisis faktor-faktor yang memengaruhi tingkat pembiayaan sektor pengangkutan dan komunikasi berdasarkan jenis penggunaan akad pada perbankan syariah di Indonesia. Penelitian ini menggunakan pendekatan panel statis (unbalanced panel data) dengan data yang bersumber dari delapan Bank Umum Syariah (BUS) selama periode 2010 hingga tahun 2023. Kebaruan dari penelitian ini yaitu mengklasifikasikan pembiayaan sektor pengangkutan dan komunikasi ke dalam tiga kategori yaitu pembiayaan pada skema akad murabahah, mudharabah, dan musyarakah. Hasil studi menunjukkan bahwa variabel Non-Performing Financing (NPF) secara signifikan berpengaruh negatif terhadap ketiga skema pembiayaan. Variabel total aset secara signifikan berpengaruh positif terhadap pembiayaan berdasarkan skema akad musyarakah dan mudharabah. Sedangkan variabel rasio likuiditas hanya berpengaruh signifikan positif terhadap skema pembiayaan murabahah. Faktor eksternal (makroekonomi) seperti Gross Domestic Product (GDP), secara signifikan berpengaruh positif terhadap pembiayaan berdasarkan skema musyarakah dan mudharabah. Berdasarkan hasil penelitian, BUS hendaknya mengoptimalkan sistem monitoring yang dimiliki untuk menekan tingkat NPF yang berpengaruh signifikan negatif terhadap ketiga skema pembiayaan. Selanjutnya BUS diharapkan untuk terus meningkatkan total aset yang dimiliki sehingga mampu memberikan pembiayaan pada akad yang berbasis penyertaan aset seperti akad musyarakah dan mudharabah. Selain itu BUS juga diwajibkan meningkatkan tingkat likuiditas perbankan untuk menjaga rasio kecukupan sehingga dapat meningkatkan pembiayaan pada akad murabahah.
Budaya Organisasi Nilai Islam Good University Governance
This research aims to analyze the convergence between organizational culture, Islamic values, and the principles of Good University Governance (GUG) in the context of higher education review at the Institute of Social Sciences and Management STIAMI. As a non-profit organization oriented towards service provision and sustainability, higher education institutions have a unique need to implement effective governance. Specifically examining how Islamic values, particularly the prophetic leadership principles of Siddiq, Amanah, Fathonah, and Tabligh, can be integrated into the GUG framework to form a holistic and integrity-driven organizational culture. Through a descriptive qualitative methodology and a comprehensive literature review, this report outlines the definitions of organizational culture and GUG, identifies the essence of Islamic educational values, and presents a relevant integration model. The analysis of the perceptions of academics and higher education leaders provide regarding the implementation of Islamic values and GUG is also discussed, highlighting the existing challenges and opportunities. It was found that GUG in Higher Education requires a unique framework, where universal governance principles are enriched and redefined by fundamental Islamic values. This integration not only enhances operational efficiency but also strengthens ethical and spiritual integrity, fostering the creation of a productive and character-driven academic environment. In this paper, it concludes with strategic recommendations for strengthening the Islamic organizational culture and the effective implementation of GUG in higher education institutions. The novelty of this study lies in the development of an implementable SAFT-based governance model within the higher education context, particularly through a case study of STIAMI, which practices a unique 3I organizational culture: Ibadah (worship), Integrity, and Innovation. This study contributes to the literature by demonstrating that Islamic leadership principles serve not just as symbolic ideals but as practical instruments for establishing high-standard governance in modern Islamic educational institutions
Copyright (c) 2025 Martina Safitry, Irawati Irawati, Sylviana Murni
Efektivitas Penggunaan Layanan Fitur Syariah Aplikasi Pospay Pada Pengguna Di Surabaya
This study aims to analyze the effectiveness of the use of sharia feature services in the Pospay application by users in Surabaya. The sharia feature on Pospay is an innovation of PT Pos Indonesia (Persero) in providing sharia services. The research method used is qualitative based with a phenomenological approach. Data collection techniques were conducted through interviews and observations of active users of sharia features in Surabaya, application informatics technicians, and representatives of the Surabaya Post Office. Data analysis used the Miles and Huberman model with the stages of open coding, axial coding, and selective coding. The results showed that the sharia features in Pospay are considered effective in supporting users&#39; sharia needs activities. Users feel helped because services can be accessed easily, safely, and in accordance with sharia principles. However, there are some weaknesses such as the lack of socialization, limited sharia institution partners, technical constraints when the network is unstable. These findings provide a real picture of the dynamics of the use of application-based sharia services, especially in the context of digital platforms owned by non-bank SOEs which are still rarely studied. Solutions that can be done are increased promotion, expansion of cooperation with Islamic financial institutions, strengthening the technical side of the application. This research is expected to contribute to the development of Islamic fintech in Indonesia.
Copyright (c) 2025 Danang Rosadi, Rachma Indrarini
Analisis Faktor Penentu Profitabilitas Bank Syariah: Studi Literatur
This study aims to explore the influence of Good Corporate Governance (GCG), Financing to Deposit Ratio (FDR), Capital Adequacy Ratio (CAR), Non-Performing Financing (NPF), and Operating Costs to Operating Income (BOPO) on the profitability of Islamic Commercial Banks in Indonesia, using a literature study approach. The novelty of this study lies in its approach that integrates various fundamental factors in Islamic banking. Through analysis of various relevant literature sources, this study is expected to provide a deeper understanding of the factors that influence the profitability of Islamic financial institutions. The results show that the influence of these five variables on profitability is inconsistent, with varying impacts from one study to another. For example, the CAR variable was found to have a significant impact on profitability in some studies, while others did not show similar results. On the other hand, GCG showed a significant negative relationship with Islamic bank performance, especially on the composition of the Sharia Supervisory Board. This finding can be strengthened by using the Islamic Performance Index (IPI) approach, which not only measures financial performance, but also aspects of sharia compliance, social responsibility, and distributive justice. Further research is recommended to add variables such as Net Interest Margin (NIM) and yields, especially for Islamic banks listed on the IDX.
Copyright (c) 2025 Catur wahyudi, Anton Bawono, Juli Riyanto Tri Wijaya
Pengaruh Ekspor Dan Impor Kopi Terhadap Neraca Perdagangan Di Indonesia Dalam Perspektif Ekonomi Islam Tahun 2014-2023
This study aims to analyze the effect of coffee exports and imports on Indonesia trade balance from 2014 to 2023 within the perspective of Islamic economics. The research uses a quantitative approach with a multiple linear regression model based on annual time series data. The results show that both coffee exports and imports have a significant influence on the trade balance, both partially and simultaneously, but with a negative impact. From the Islamic economic perspective, trade should be conducted fairly, balanced, and must bring benefit (maslahah) to society. These findings reflect a lack of balance in coffee export and import activities that must be addressed to align with Sharia principles. The novelty of this study lies in combining quantitative analysis with Islamic economic perspectives, which has rarely been applied in previous research on coffee trade. This research recommends strengthening export value, improving logistics efficiency, and controlling unproductive imports. The findings are expected to provide insights for policymakers and future researchers in building a sustainable and just coffee trade system.
Copyright (c) 2025 Regita Ayu Putri, Citra Etika, Diah Mukminatul Hasyimi
Peran Wisata Halal Dalam Meningkatkan Kesejahteraan Ekonomi Masyarakat di Pantai Lon Malang Kabupaten Sampang
The tourism sector has a potential economic load that needs to be developed in order to improve community welfare and regional development evenly because tourism is an important part of a country&#39;s economic development. The benefits obtained from the tourism sector at the macro and micro levels are expected to increase national income and state foreign exchange sources, in a small scope tourism is expected to create jobs for the community. This study uses a qualitative approach with the aim of researching the implementation and the benefits of community economic empowerment, also the ideal construct of community economic empowerment in thematic villages in Sampang Regency which has never been observed. The data collection procedure uses observation, interviews, and documentation. The result found that the development of Lon Malang beach tourism amidst the economic conditions and development of the real sector which tends to be stagnant, the market potential in the tourism services sector is certainly an opportunity and alternative attraction that must be developed. The tourism sector is an opportunity as well as a challenge for the Bira Tengah Village Government, Sampang Regency because this village has potential and tourist attractions that are quite interesting and sell well to regional, national, and international markets. Therefore, the village government must not only take proactive steps to attract tourists, but also have careful planning. Contribution of Lon Malang Tourism in Bira Tengah Village, Sokobanah District, Sampang Regency to the Economic Welfare of the Community.
Copyright (c) 2025 Raudhotul Jannah, Khusnuddin Khusnuddin
Pengaruh Inflasi dan Penanaman Modal Asing Terhadap Neraca Perdagangan Negara Anggota APEC Dalam Persepektif Ekonomi Islam (Analisis Data Panel Periode 2018 – 2023)
The trade balance is one of the key indicators for assessing a country’s economic performance, calculated as the difference between the value of exports and imports over a specific period. Trade balance fluctuations are influenced by various macroeconomic variables, such as inflation rates and the inflow of Foreign Direct Investment (FDI). This study aims to examine the effect of inflation and foreign direct investment on the trade balance of APEC member countries. The method employed is a quantitative approach using panel data. The independent variables in this study are inflation and foreign direct investment, while the dependent variable is the trade balance. The data are sourced from the Central Bureau of Statistics (BPS) and the World Bank. The population of the study includes all APEC member countries, with eight countries selected as samples, namely the United States, Indonesia, China, Japan, South Korea, Malaysia, the Philippines, and Singapore. The data were analyzed using panel regression techniques. The t-test results show that the inflation variable has a positive but statistically insignificant effect on the trade balance. Meanwhile, the FDI variable has a negative and also statistically insignificant effect on the trade balance of APEC member countries.
Copyright (c) 2025 Muhammad Anbia Alfath, Ahmad Hazas Syarif, Taufiqur Rahman
The Impact of Factory-to-Costumer Business Model on MSMEs in Indonesia: An Islamic Business Ethics Perspective on Temu Application
This study investigated the impact of the factory-to-customer (F2C) business model, implemented by the Temu application, on the sustainability of local Micro, Small, and Medium Enterprises (MSMEs) in Indonesia. The F2C model allows consumers to buy products directly from manufacturers without intermediaries. Although it offers lower prices for consumers, it raises serious concerns for local businesses that struggle to compete with imported goods. This research uses a descriptive method with a qualitative approach. Relevant journal articles, books, and reports were selected through purposive sampling. The collected data were analyzed by comparing sources and identifying key ethical and economic issues. The findings indicate that F2C business practices, purported to be highly efficient and lucrative, contravene Islamic business ethics, specifically justice (adl), transparency (bayan), and the prohibition of uncertainty (gharar). These practices have the potential to engender inequitable competition and disrupt market equilibrium. This research makes a novel contribution to the Islamic economic discourse by underscoring the significance of fair regulation and the role of the government in overseeing digital business practices. The implications of this research underscore the necessity to fortify national regulations grounded in Islamic ethical values, thereby ensuring the sustainability of local MSMEs within the expanding digital business ecosystem.
Profitability & Leverage as Determinants of The Price to Book Value of Companies Listed on Jakarta Islamic Index
A steady increase in the stock market price reflects the maximization of corporate value. The Price to Book Value ratio serves as a metric for assessing the growth in a company's value. Profitability and leverage policies are just two of the several aspects that influence the company's overall value. This study aims to evaluate the impact of financial ratios, specifically profitability as measured by Return on Equity and leverage indicated by the Debt to Equity Ratio, on the Price to Book Value of companies listed on the Jakarta Islamic Index between 2018 and 2023, during which time the Covid 19 Pandemic occurred. This study distinguishes itself from previous research through its methodological approach. The research utilized a descriptive and quantitative methodology. Additionally, the sample for this study was selected using a purposive sampling with eleven firms that are consistently listed on the Jakarta Islamic Index for the timeframe 2018-2023. This research employs panel data regression as its analytical approach. The findings from the statistical tests reveal that the Profitability Ratio significantly affects the Price to Book Value, whereas the Leverage Ratio does not exhibit a notable impact. This suggests that while Profitability plays a crucial role, Leverage does not. It is recommended that Issuers consistently strive to sustain or enhance profitability under all circumstances, which would contribute to an increase in the company's overall value to face unexpected events such as Covid 19, businesses must examine both capital and debt financing to maintain the trust of shareholders and other stakeholders.
Copyright (c) 2025 Muhammad Iqbal, Reny Fitriana Kaban, Henny Ritha
The Impact of Vision 2030 on the Development of Islamic Financial Reporting in Saudi Arabia. Literature Review
This study aims to analyze the impact of this vision on the development of Islamic Financial Reporting in Saudi Arabia through the existing literature review method. Various literature sources are reviewed, including academic journals, government reports, and industry articles to understand how the policies and strategies proposed in the Vision 2030 affect Islamic Financial Reporting and regulations. The analysis results show that the 2030 vision has encouraged increased transparency, technology integration, and adoption of international standards in Islamic Financial Reporting. This initiative has also created an impetus for educational institutions to develop curriculum that are more relevant to changing market needs. In addition, greater interaction between the private sector and regulators is expected to improve Islamic Financial Reporting that are in accordance with Islamic principles and global needs. Overall, Vision 2030 not only contributes to the development of Islamic Financial Reporting in Saudi Arabia but also creates opportunities for sustainable economic growth by making Islamic Financial Reporting an integral part of the modern accounting system.
Copyright (c) 2026 Martina Safitry, Reny Fitriana Kaban
The Influence of Sharia Accounting Implementation on the Financial Performance of Islamic Banks in Qatar
Purpose: This study aims to analyze the influence of the implementation of Islamic accounting based on AAOIFI standards on the financial performance of Islamic banks in Qatar. Methodology: Financial performance is measured using three key indicators: Return on Assets (ROA), Return on Equity (ROE), and Net Profit Margin (NPM). The research data were collected from six leading Islamic banks in Qatar during the period of 2019 to 2023, employing a quantitative method and linear regression analysis to test the relationship between the level of compliance with Islamic accounting standards and financial performance. The AAOIFI compliance measurement instrument was developed through a Likert-scale questionnaire that was tested for validity and reliability. Findings: The results indicate that the implementation of Sharia accounting has a positive and significant effect on all three financial performance indicators. Specifically, every one-point increase in the AAOIFI compliance score raises ROA by 0.02%, ROE by 0.105%, and NPM by 0.215%. The regression model explains 38% to 47% of the variance in financial performance, suggesting that applying Sharia accounting standards plays a critical role in improving asset management, equity efficiency, and net profit generation in Islamic banks. Orginility: These findings reinforce the importance of integrating AAOIFI standards into Islamic banks’ financial reporting to enhance transparency, accountability, and competitiveness. This study provides practical implications for Islamic bank management and Islamic financial regulators, particularly in promoting the global harmonization of Sharia accounting standards. Furthermore, this research serves as a reference for future studies to examine Sharia governance aspects and other moderating variables.
Pengelolaan dan Keberlanjutan Keuangan Haji di Indonesia: Analisis Yuridis Empiris
Pendirian Badan Pengelola Keuangan Haji (BPKH) bertujuan meningkatkan kualitas penyelenggaraan ibadah haji, meningkatkan rasionalitas dan efisiensi penggunaan Biaya Penyelenggaraan Ibadah Haji (BPIH) dan meningkatkan manfaat bagi kemashlahatan umat Islam. Isu keberlanjutan keuangaan haji menjadi penting mengingat masa tunggu calon jamaah haji cukup panjang. Penelitian ini bertujuan untuk menganalisis (1) strategi BPKH dalam mengelola keuangan haji, (2) pendistribusian nilai manfaat dan keberlanjutan keuangan haji, dan (3) implikasi UU No. 34 Tahun 2014 terhadap pengelolaan keuangan haji. Beberapa teori yang digunakan untuk menganalisis tujuan penelitian adalah teori manajemen strategik sebagai teori utama, teori keadilan sebagai teori menengah dan teori investasi sebagai teori aplikasi. Penelitian ini merupakan penelitian jenis kualitatif dengan sumber data diperoleh dari penelitian lapangan, wawancara dan literatur kepustakaan. Pendekatan yang digunakan dalam penelitian ini adalah pendekatan yuridis empiris dengan metode deskriptif analitik. Penelitian dilakukan di BPKH antara kurun waktu bulan Juli sampai Desember 2024. Hasil penelitian menemukan (1) Strategi BPKH dalam mengelola keuangan haji dilakukan dengan membuat renstra lima tahunan yang mencakup visi, misi dan tujuan, rencana strategis, kerangka regulasi dan kelembagaan serta target kinerja dan pengembangan keuangan haji melalui penempatan dana di perbankan syariah dan investasi, (2) pola distribusi nilai manfaat saat ini mengancam keberlanjutan jangka panjang dan melanggar keadilan proporsional bagi jamaah haji tunggu, (3) implikasi dari pemberlakuan UU No. 34 Tahun 2014 adalah pemisahan pengelolaan keuangan haji dari Kementerian Agama, pengelolaan keuangan haji oleh perbankan syariah, pengelolaan keuangan haji untuk investasi, dan kewenangan pendistribusian nilai manfaat oleh BPKH.
Copyright (c) 2026 Ahmad Farikhin, Eri Novari, Heni Mulyasari, Henny Ritha
Pengaruh Konektivitas Infrastruktur terhadap Pertumbuhan Ekonomi dan Pariwisata Lampung: Perspektif Ekonomi Islam 2015-2024
This study examines in depth how infrastructure connectivity influences the dynamics of economic growth and the performance of the tourism sector in Lampung Province for the period 2015–2024, using an Islamic economic perspective as the main analytical basis. The data used are sourced from official statistics from BPS, the PUPR Office, and the Lampung Tourism Office, which are then processed through a quantitative approach using the Vector Autoregression (VAR) model, including the stages of optimal lag testing, model stability, cointegration, Granger causality, and stationarity testing at the second difference level. The estimation results show that the VAR model is stable with an optimal lag of 2 and does not find a long-term cointegration relationship or significant causality between the variables of Economic Growth, Tourism Sector, and Infrastructure Connectivity. The coefficient of determination value of 87.4% indicates that infrastructure connectivity is able to explain most of the movements in economic growth and the tourism sector, although the partial effect of infrastructure connectivity on economic growth is positive but not significant (coefficient of 3.016), while its effect on the tourism sector is negative and remains insignificant (coefficient of -52.079). From an Islamic economic perspective, these findings emphasize the importance of integrating physical infrastructure development with strengthening human resource quality and governance based on maqashid al-shariah, including social justice, public welfare, and environmental preservation to respond to the risks of overtourism and unequal distribution of benefits.
Copyright (c) 2026 Diah Ayu Permata Diah Ayu Permata, Madnasir Madnasir, Nur Wahyu Ningsih
Penilaian Kualitas Hotel Syariah serta Pengaruhnya terhadap Kepuasan Konsumen: Peran Kepercayaan Konsumen sebagai Variabel Mediasi
This study aims to analyze the quality of sharia hotels and its influence on consumer trust and satisfaction. Furthermore, this study also examines the role of consumer trust as a mediator in the relationship between the quality of sharia hotels and consumer satisfaction. Data was collected from 589 respondents using an online questionnaire instrument in the form of Google Forms. The research respondents were guests of sharia hotels in five major cities: Jakarta, Bandung, Yogyakarta, Semarang, and Surabaya. Data was processed and analyzed using the Partial Least Squares Structural Equation Modeling (PLS-SEM) method with the assistance of the SmartPLS statistical software version 3 instrument. The scale for assessing the quality of Islamic hotels designed for this study was adapted from the CARTER model framework, which consists of Compliance, Assurance, Reliability, Tangibles, Empathy, and Responsiveness. The research findings reveal that the quality of sharia hotels has a direct, positive, and significant influence on both consumer trust and consumer satisfaction. Consumer trust was also found to have a direct and significant influence on consumer satisfaction. Additionally, this study provides evidence that consumer trust is able to mediate the relationship between the quality of sharia hotels and consumer satisfaction, although its influence is far less than the direct influence of sharia hotel quality on consumer satisfaction. Based on the research findings, it is concluded that improving the quality of Sharia hotels in accordance with Islamic principles makes a significant contribution to consumer trust and satisfaction. In addition to informing policies for managing sharia hotels in Indonesia, this research offers empirical evidence and introduces new theories relevant to halal tourism studies and the strategic management of sharia hotels.
Copyright (c) 2026 Andhyka Tyaz Nugraha; Suryaneta Suryaneta, Rizqi Wahyudi, Muhammad Iqbal
Assessing Inclusion of Muslim Foreign Workers in Johor’s Zakat System: Legal and Maqasid Perspective Framework
This study critically examines the inclusion of Muslim foreign workers in Johor’s zakat system, focusing on their dual role as zakat payers (muzakki) and recipients (mustahiq), employing a mixed-methods approach that utilises legal analysis alongside social empirical research. The responsibilities and rights of Muslim foreign workers as muzakki and mustahiq are evaluated through the lens of Islamic law in Johor, with the legal analysis comprising statutory interpretation and a literature review. Surveys of 100 Muslim foreign workers in Johor were conducted to collect empirical data on practical barriers to access and participation. The research concludes, within the context of Maqasid al-Shariah, that Muslim foreign workers who qualify for nisab and haul hold a religious obligation to pay zakat. Concurrently, those who are experiencing poverty or those in debt are entitled to receive zakat, which aligns with the Shariah’s objectives of safeguarding life, property, and dignity. The legal analysis focuses on the Enactment of Islamic Religious Administration of Johor 1978, which permits Muslims in Johor to collect zakat, irrespective of their citizenship. Furthermore, empirical data indicate low awareness and limited access to zakat services, despite the population in Johor reaching 100,000. This is supported by a survey of 100 Muslim foreign workers in Johor, which adds to the existing empirical data. The barriers identified in the study encompass legal obstacles, a lack of bilingual support within institutions, and institutions' unwillingness to acknowledge other nationals as potential zakat beneficiaries.
Copyright (c) 2026 Mohammad Hidir Baharudin, Rahmawati Mohd Yusoff, Ahmad Safwan Yunos
Bias Psikologis Mahasiswa Generasi Z Muslim dalam Keputusan Investasi Cryptocurrency
Perkembangan teknologi keuangan mendorong meningkatnya keterlibatan generasi Z dalam investasi aset kripto yang memiliki karakteristik risiko serta volatilitas tinggi. Studi ini mengkaji bagaimana keputusan mahasiswa generasi Z beragama Islam pada investasi cryptocurrency dapat dipengaruhi oleh mental accounting, familiarity bias, dan self-attribution bias. Pendekatan yang digunakan dalam studi adalah kuantitatif dengan desain kausal asosiatif dan teknik purposive sampling terhadap populasi infinit dari mahasiswa Fakultas Ekonomi dan Bisnis Islam Universitas Islam Kiai Haji Achmad Siddiq Jember. Pengumpulan data dilakukan melalui kuesioner digital dan diperoleh 32 responden yang selanjutnya dianalisis menggunakan regresi linier berganda, setelah melalui tahap uji validitas, reliabilitas, dan uji asumsi klasik untuk memastikan kelayakan model. Untuk mengonfirmasi sekaligus mengembangkan investigasi terhadap hasil jawaban maupun hasil pengolahan data, studi ini melanjutkan teknik wawancara jenuh kepada responden. Studi ini menghasilkan kontribusi model sebesar 71,3%, di mana ketiga variabel eksogen (independen) tersebut secara statistik, baik secara simultan maupun parsial, memiliki signifikansi positif pada keputusan investasi cryptocurrency dengan dominasi familiarity bias dalam mempengaruhinya. Secara keseluruhan, temuan ini semakin menegaskan bahwa bias psikologis berperan besar dalam proses pengambilan keputusan investasi serta semakin menguatkan bahwa generasi Z muslim telah memiliki literasi keuangan digital dan berpartisipasi aktif pada instrumen keuangan digital modern.
Copyright (c) 2026 Achmad Roziqin, Khairunnisa Musari