EKONOMIKA SYARIAH : Journal of Economic Studies
Field Details Journal Title : EKONOMIKA SYARIAH: Journal of Economic Studies Initials : Ekonomika Syariah Abbreviation : Ekon. Syariah: J. Econ. Stud. Accredited Rank : SINTA 3 Frequency : 2 Issues per year (June and December) DOI Prefix : 10.30983/es by Crossref ISSN : 2614-8110 (online) Editor-in-Chief : Prof. Dr. Hesi Eka Puteri, S.E., M.Si Pubisher : UIN Sjech M. Djamil Djambek Bukittinggi Citation Analysis : Google Scholar and Dimensions EKONOMIKA SYARIAH: Journal of Economic Studies is an open-access, peer-reviewed scientific journal published by the State Islamic University of Sjech M. Djamil Djambek Bukittinggi. The journal serves as a scholarly platform for researchers, lecturers, and practitioners to publish scientific articles in the field of Islamic economics, finance, and business studies, focusing on the integration of Islamic values within economic systems. All submitted manuscripts are reviewed under a double blind-review process to ensure the objectivity, originality, and scientific quality of every published article. The journal is dedicated to promoting the advancement of Islamic economic thought and practice by providing a space for empirical research, conceptual analysis, and applied studies that contribute to the development of the Islamic economic ecosystem. It encourages interdisciplinary collaboration among academics, policymakers, and professionals in addressing contemporary economic challenges from a Sharia perspective. Through high academic standards and ethical publishing practices, EKONOMIKA SYARIAH seeks to become a credible reference for both national and international audiences in the field of Islamic economics. The scope of EKONOMIKA SYARIAH includes, but is not limited to, topics such as Islamic banking and finance, capital market and investment management, Islamic microfinance institutions, zakat, waqf, and philanthropy management, halal industry, Islamic entrepreneurship, digital finance, and Islamic economic policy analysis. The journal is published twice a year (June and December) and welcomes manuscripts written in both Bahasa Indonesia and English, aligning with its mission to enrich the discourse and practice of Islamic economic development in the modern era.
Universitas Islam Negeri Sjech M. Djamil Djambek Bukittinggi
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Determinants of Contemporary Sharia Financial Literacy among Students in Higher Education Institutions
This research aims to analyze the determinants of contemporary Sharia financial literacy among students of the Faculty of Economics and Business at Universitas Riau (FEB UNRI). This study employs a quantitative approach, using numerical data derived from both primary and secondary sources. Primary data were collected through questionnaires using a Likert scale, distributed to 304 students from the Development Economics, Accounting, and Management study programs. Secondary data were obtained from literature reviews, academic journals, websites, and publications from financial and statistical institutions. The data analysis method used was Multiple Linear Regression with the SEM-PLS (Structural Equation Modeling–Partial Least Squares) approach. The results indicate that education, information media, and the role of clerics/government have a significant and positive effect on Sharia financial literacy,while the social environment has a positive but insignificant effect. The primary contribution of this study is to emphasize the importance of enhancing Sharia financial literacy among students as part of preparing the younger generation to support the development of a more advanced Islamic economic system in the future. Studi ini bertujuan untuk menguji determinan literasi keuangan syariah kontemporer mahasiswa Fakultas Ekonomi dan Bisnis Universitas Riau (FEB UNRI). Studi dilakukan dengan metode kuantitatif dengan data berbentuk numerikal. Studi menggunakan data kuantitatif berupa data primer dan data sekunder. Data primer menggunakan hasil wawancara dan kuesioner dengan skala likert pada mahasiswa FEB UNRI yang berjumlah 304 orang yang berasal dari Program Studi Ekonomi Pembangunan, Akuntansi dan Manajemen. Sedangkan data sekunder berupa data yang tersedia dari studi literatur, jurnal, website, terutama dari lembaga keuangan dan statistik. Metode analisis data adalah regresi linier berganda menggunakan model SEM-PLS. Temuan mengungkap bahwa Pendidikan, media infromasi, dan peran ulama/pemerintah berpengaruh signifikan dan positif, dan terakhir lingkungan sosial berpengaruh tidak signifikan dan positif, terhadap literasi keuangan syariah pada mahasiswa FEB UNRI. Kontribusi utama dalam studi adalah untuk meningkatkan khazanah ekonomi dan keuangan syariah saat ini kepada mahasiswa sebagai generasi muda untuk masa depan dan untuk mengembangkan ekonomi yang lebih maju.
Copyright (c) 2025 M Rizwan, Eriyati, Yelly Zamaya http://creativecommons.org/licenses/by-sa/4.0
Determinants of the Maqashid Syariah Index of Islamic Banks: Implications on Social and Environmental Sustainability
Islamic banking holds a strategic role in promoting social and environmental sustainability through the implementation of Islamic economic principles. This study aims to analyze the factors influencing the Maqashid Sharia Index in Islamic banks in Indonesia and to examine its implications on multidimensional sustainability. The independent variables in this study are the Zakat Performance Ratio (ZPR) and Qardhul Hasan (QH) financing, with control variables consisting of Return on Assets (ROA) and Non-Performing Financing (NPF). The study employs panel data from Islamic banks in Indonesia over the period 2019–2023, selected using purposive sampling techniques. The data are analyzed using panel regression with the Random Effect Model (REM) approach. The findings indicate that ZPR, QH, ROA, and NPF have a positive and significant partial effect on the Maqashid Sharia Index. These results suggest that simultaneously optimizing social functions and financial performance is crucial for enhancing the contribution of Islamic banks to achieving sustainable Sharia objectives. This approach offers a fresh perspective on evaluating Islamic banking performance,not only in terms of profitability but also in how effectively institutions contribute to the comprehensive realization of Maqashid al-Sharia. Perbankan Syariah memiliki peran strategis dalam menciptakan kesejahteraan sosial dan keberlanjutan lingkungan melalui prinsip-prinsip ekonomi islam. Tujuan utama penelitian ini untuk menganalisis faktor-faktor yang mempengaruhi Indeks Maslahat pada Perbankan Syariah Indonesia serta mengkaji implikasinya terhadap keberlanjutan sosial dan lingkungan. Variabel independent pada penelitian ini yaitu Zakat Performance Ratio (ZPR) dan pembiayaan Qardhul Hasan (QH). Penelitian ini menggunakan data dari 9 Bank Umum Syariah di Indonesia dalam rentang waktu 2019-2023, yang dipilih melalui Teknik purposive sampling. Data tersebut dianalisis menggunakan regresi data panel, dengan model estimasi yang diterapkan adalah Random Effect Model (REM). Hasil penelitian mengungkapkan bahwa ZPR dan QH, baik secara simultan maupun parsial, berpengaruh positif dan signifikan terhadap Indeks Maslahat dalam Perbankan Syariah di Indonesia. Hasil temuan ini menegaskan bahwa perbankan syariah tidak hanya berfokus pada profitabilitas, tetapi juga memiliki peran dalam tanggung jawab sosial dan lingkungan yang perlu dioptimalkan. Oleh karena itu, diperlukan strategi kebijakan yang lebih progresif dalam mengelola ZPR dan QH agar perbankan Syariah semakin berdaya guna dalam menciptakan keseimbangan antara ekonomi, sosial, dan lingkungan secara berkelanjutan.
Copyright (c) 2025 Nurun Nadia, Muhammad Muflih, Ruhadi http://creativecommons.org/licenses/by-sa/4.0
Empowering Female Entrepreneurship Through Pesantren: a Strategic Model for Economic Empowerment
Indonesian Islamic Boarding School (Pesantren) presents significant opportunities for the economic empowerment of the Muslim community. This study aims to examine how the pesantren environment influences the entrepreneurial intentions of female students (santriwati). Employing Structural Equation Modelling Partial Least Squares (SEM-PLS) along with the Higher Construct Model (HCM) approach, the study analyzes data collected through questionnaires distributed to santriwati at Pesantren Idrisiyyah in Tasikmalaya. The findings reveal that the presence and activities of pesantren positively influence the entrepreneurial intentions of santriwati, encouraging them to engage in business initiatives. Furthermore, the study highlights that pesantren-based programs designed to nurture entrepreneurial character significantly enhance key competencies, including self-efficacy, risk-taking, planning, leadership, persistence, and social skills. These competencies are crucial for fostering an entrepreneurial mindset and preparing students for future business endeavors. The study offers valuable insights for the development of strategic frameworks to strengthen pesantren programs focused on entrepreneurship. By integrating character building with practical business exposure, pesantren can play a vital role in shaping a generation of economically empowered and socially responsible Muslim entrepreneurs. Pondok pesantren di Indonesia telah menghadirkan peluang yang signifikan bagi pemberdayaan ekonomi umat Islam. Penelitian ini berupaya untuk meneliti bagaimana pesantren memengaruhi minat berwirausaha santriwati. Penelitian ini menggunakan Structural Equation Modelling Partial Least Squares (SEM-PLS) bersama dengan pendekatan Higher Construct Model (HCM) untuk analisis data. Data untuk penelitian ini dikumpulkan melalui kuesioner yang diberikan kepada santriwati di Pesantren Idrisiyyah di Tasikmalaya. Temuan penelitian ini menunjukkan bahwa keberadaan pesantren berdampak positif pada minat santriwati untuk terlibat dalam kegiatan bisnis. Penelitian ini juga mengungkapkan bahwa program-program di dalam Pesantren yang bertujuan untuk menumbuhkan karakter wirausaha dapat meningkatkan kompetensi seperti efikasi diri, pengambilan risiko, perencanaan, kepemimpinan, kegigihan, dan kemampuan bersosialisasi. Temuan penelitian ini dapat menjadi landasan yang berharga untuk mengembangkan kerangka strategis bagi program-program pesantren yang bertujuan untuk menumbuhkan kewirausahaan di kalangan santri
Copyright (c) 2025 Fauzan Husaini http://creativecommons.org/licenses/by-sa/4.0
Halal Certification Issues-Solutions in Indonesia: An Exploratory Study
This study aims to explore the problems and formulate solutions related to the implementation of halal certification for MSMEs in Indonesia. Employing a qualitative content analysis approach, ten articles published between 2019 and 2024 were analyzed using a mind map chart to identify key issues and integrated solutions. The findings highlight five major areas of concern: regulations, business actors, support systems, implementation processes, and public outreach. Key challenges include an underdeveloped legal structure, high certification costs, low awareness among business actors, and inadequate infrastructure and support. Proposed solutions involve offering free halal certification, enhancing outreach efforts, digitizing the certification system, strengthening institutional support, and providing technical assistance. This research offers a comprehensive mapping of problems and solutions, an approach not previously undertaken. It underscores the need for synergy between the government, support institutions, and MSMEs to build a more inclusive and effective halal certification ecosystem in Indonesia. Penelitian ini bertujuan untuk mengeksplorasi problematika dan merumuskan solusi dalam pelaksanaan sertifikasi halal bagi pelaku UMKM di Indonesia. Dengan pendekatan analisis konten kualitatif, 10 artikel terpilih dari tahun 2019-2024 dianalisis menggunakan alat pemetaan mind maps chart untuk mengidentifikasi tantangan utama dan solusi yang terintegrasi. Hasil penelitian mengungkapkan lima aspek problematika utama: regulasi, pelaku usaha, sistem pendukung, implementasi, dan sosialisasi. Tantangan meliputi ketidaksiapan struktur hukum, biaya yang memberatkan, rendahnya kesadaran pelaku usaha, serta keterbatasan infrastruktur dan pendampingan. Solusi yang diusulkan meliputi program sertifikasi halal gratis, peningkatan sosialisasi, digitalisasi sistem, penguatan dukungan kelembagaan, dan pendampingan teknis. Penelitian ini berkontribusi dengan menyajikan pemetaan komprehensif problematika dan solusi tentang pelaksanaan sertifikasi halal bagi pelaku UMKM di Indonesia. Dalam implikasinya diperlukan sinergi antara pemerintah, lembaga pendukung, dan UMKM untuk menciptakan ekosistem sertifikasi halal yang lebih inklusif dan efisien di Indonesia.
Copyright (c) 2025 Ismail, Nurhudawi, Kamaruddin, Jufri Naldo, Syahrial Arif Hutagalung http://creativecommons.org/licenses/by-sa/4.0
Cash Waqf Linked Deposit Model's Potential to Support Free Nutritious Meals in Islamic Boarding Schools
This study examines the potential of the Cash Waqf Linked Deposit (CWLD) as a sustainable funding alternative for the Free Nutritious Meal Program (MBG) in Islamic boarding schools, particularly in underdeveloped areas. Using a literature review and content analysis approach, the research analyzes data from various sources, including journals, books, official reports, and news articles, through the lens of Islamic economics and Maqasid al-Sharia. The findings highlight the significant promise of CWLD, given Indonesia’s substantial annual cash waqf potential of 180 trillion Rupiah, despite its currently low realization. CWLD provides a transparent and accountable mechanism for distributing waqf funds and has proven effective in several case studies, particularly within the education sector. However, key implementation challenges remain, such as the absence of specific regulations, low levels of Islamic financial literacy, and the need for greater stakeholder coordination. The study concludes that, with proper management and regulatory support, CWLD could serve as a sustainable funding solution for MBG, thereby improving student welfare and supporting sustainable development in Indonesia. Further research using quantitative data is recommended to measure CWLD’s actual impact more precisely. Penelitian ini menganalisis potensi Cash Waqf Linked Deposit (CWLD) sebagai alternatif pendanaan berkelanjutan untuk Program Makan Bergizi Gratis (MBG) di pondok pesantren, khususnya di daerah tertinggal. Menggunakan metode studi literatur dan analisis konten, penelitian ini menganalisis data dari berbagai sumber seperti jurnal, buku, laporan resmi, dan artikel berita, dengan perspektif ekonomi Islam dan Maqasid al-Sharia. Hasil penelitian menunjukkan adanya potensi besar CWLD, mengingat potensi wakaf uang di Indonesia yang signifikan, yakni 180 Triliun per tahun, meskipun realisasinya masih rendah. CWLD menawarkan mekanisme transparan dan akuntabel untuk menyalurkan dana wakaf, terbukti efektif dalam beberapa studi kasus, terutama di bidang pendidikan. Namun, tantangan implementasi termasuk kurangnya regulasi khusus, rendahnya literasi keuangan syariah, dan perlunya koordinasi antar pemangku kepentingan. Penelitian menyimpulkan bahwa CWLD, dengan pengelolaan yang baik dan dukungan regulasi, berpotensi menjadi solusi pendanaan berkelanjutan untuk MBG, meningkatkan kesejahteraan santri dan pembangunan berkelanjutan di Indonesia. Penelitian lebih lanjut dengan data kuantitatif disarankan untuk mengukur dampak CWLD secara akurat.
Copyright (c) 2025 Inayah, Muzalifah, Arif Mubarok; Rofi'i http://creativecommons.org/licenses/by-sa/4.0
Optimizing the Management of Zakat, Infaq, and Sadaqah for Post-Disaster Economic Recovery Through Local Policy Approaches
This study aims to examine the mechanism of zakat, infaq, and sadaqah (ZIS) management implemented by the Nagari Sungai Pua Government Institution in the context of post-disaster economic recovery. Natural disasters in Nagari Sungai Pua have caused significant disruptions to the community’s financial stability. Many victims have lost their homes, which also served as places of business and livelihood, in addition to experiencing crop failures and other economic hardships. In response to these conditions, the Nagari Sungai Pua Government Institution has initiated a collective effort to regulate ZIS management through local policies tailored to the community's social context. This research is field-based, utilizing primary data collected through interviews with local government representatives, community leaders, and disaster survivors. The findings indicate that ZIS management in Nagari Sungai Pua is conducted systematically, fulfilling key aspects of planning, organizing, and reporting. The active involvement of local government in the collection, distribution, and utilization of ZIS demonstrates that policy-based zakat management effectively fosters social awareness and contributes to the economic recovery of disaster-affected communities. Penelitian ini bertujuan untuk mengkaji mekanisme pengelolaan zakat, infaq, dan sadaqah (ZIS) oleh Lembaga Pemerintahan Nagari Sungai Pua dalam rangka pemulihan ekonomi masyarakat pasca bencana di Nagari Sungai Pua. Bencana alam yang terjadi di Nagari Sungai Pua diketahui telah menimbulkan kerugian yang siginifikan terhadap keberlangsungan ekonomi masyarakat. Sebagian besar korban bencana mengalami kehilangan tempat tinggal yang sekaligus sebagai tempat usaha, mata pencaharian, gagal panen, dan sebagainya. Kondisi ini mendorong Lembaga Pemerintahan Nagari Sungai Pua untuk secara kolektif mengatur mekanisme pengelolaan ZIS dengan kebijakan daerah yang relevan dengan kondisi sosial masyarakat. Penelitian ini merupakan penelitian lapangan. Data penelitian bersumber dari sumber primer, seperti wawancara dengan Lembaga Pemerintahan Nagari Sungai Pua, tokoh masyarakat, dan korban bencana. Hasil penelitian ini menunjukkan bahwa mekanisme pengelolaan ZIS di Nagari Sungai Pua dilakukan secara sistematis dengan indikasi terpenuhinya aspek perencanaan, pengorganisasian, dan pelaporan. Keterlibatan Lembaga Pemerintahan Nagari Sungai Pua dalam penghimpunan, penyaluran, dan pendayagunaan ZIS menunjukkan bahwa pengelolaan zakat berbasis kebijakan daerah telah membangun kepedulian sosial masyarakat setempat dalam memulihkan perekonomian masyarakat korban bencana alam.
Copyright (c) 2025 Ashabul Fadhli, Rina Susanti, Nike Apriyanti http://creativecommons.org/licenses/by-sa/4.0
Analyzing the Relationship between Economic Indicators, Demographics, and Islamic Bank Assets in High-Asset OIC Countries
Islamic banking has expanded substantially over the past decade, however the number of institutions does not always correspond to the scale of asset accumulation. This study aims to examine the key macroeconomic and demographic determinants that influence Islamic banking asset growth in the ten countries with the highest Islamic banking assets globally. Using panel data regression with a fixed effect model over the period 2015 to 2023, this study investigates the impact of per capita income, inflation, oil prices, and Muslim population on asset growth. The findings show that, collectively, these variables significantly affect the growth of Islamic banking assets. However, only per capita income (10% significance level) and Muslim population (1% significance level) have significant individual effects, while inflation and oil prices are statistically insignificant. The novelty of this research lies in its extended time frame (2015–2023) and its focus on asset accumulation rather than profitability, an aspect relatively underexplored in previous studies. Furthermore, by concentrating on top-performing Islamic banking countries, the study offers fresh insights into the structural and religious-demographic drivers of Islamic financial development. These findings provide practical implications for policymakers and Islamic financial institutions seeking to foster sustainable growth, particularly in regions with strategic demographic advantages. Perbankan Islam mengalami pertumbuhan signifikan dalam satu dekade terakhir, namun jumlah institusi yang ada belum mencerminkan skala akumulasi aset yang berhasil dihimpun. Penelitian ini bertujuan untuk mengkaji determinan makroekonomi dan demografis utama yang memengaruhi pertumbuhan aset perbankan Islam di sepuluh negara dengan total aset perbankan Islam tertinggi di dunia. Dengan menggunakan regresi data panel model efek tetap (fixed effect model) selama periode 2015 hingga 2023, studi ini menganalisis pengaruh pendapatan per kapita, inflasi, harga minyak, dan populasi Muslim terhadap pertumbuhan aset. Hasil analisis menunjukkan bahwa secara simultan, variabel-variabel tersebut berpengaruh signifikan terhadap pertumbuhan aset perbankan Islam. Namun secara parsial, hanya pendapatan per kapita (signifikan pada tingkat 10%) dan populasi Muslim (signifikan pada tingkat 1%) yang berpengaruh signifikan, sedangkan inflasi dan harga minyak tidak signifikan secara statistik. Kebaruan penelitian ini terletak pada cakupan waktu yang lebih panjang (2015–2023) dan fokusnya pada dimensi akumulasi aset, bukan profitabilitas, yang masih jarang dikaji dalam studi sebelumnya. Selain itu, fokus pada negara-negara dengan kinerja perbankan Islam tertinggi menghasilkan temuan baru terkait peran faktor struktural ekonomi dan demografis-religius. Temuan ini memberikan implikasi praktis bagi pembuat kebijakan dan lembaga keuangan syariah dalam merancang strategi penguatan sektor perbankan Islam jangka panjang.
Copyright (c) 2025 Fitri Utami http://creativecommons.org/licenses/by-sa/4.0