IQTISHADUNA: Jurnal Ilmiah Ekonomi Kita

Financial Performance And Sharia Compliance: Evidence From Sharia Bank In Indonesia

2026-01-20T11:37:22+07:00

This research aims to describe the development of Islamic banks in Indonesia based on the Shariah Compliance and Profitability (SCnP) approach from 2018 to 2022. Quantitative descriptive panel data analysis was used as a research method, with purposive sampling of 10 Islamic banks in Indonesia. Islamic commercial banks are used as a testing method. The financial performance of Islamic banks is measured using two approaches, namely sharia (profit sharing ratio, sharia public investment ratio, sharia income ratio) and profitability indicators (return on assets, return on equity, net profit margin) . The average financial performance condition of Islamic banks in Indonesia as a whole shows performance in four quadrants, namely Upper Right Quadrant (URQ), Lower Right Quadrant (LRQ), Lower Left Quadrant (LLQ), Upper Left Quadrant (ULQ) in the five periods. each bank per year.

The Role Of Service Quality Based On Digital Applications In Improving Customer Satisfaction Of Syariah Bank In Riau

2026-01-20T11:37:21+07:00

The purpose of this study is to conduct an in-depth study related to the role of service quality in increasing customer satisfaction of Islamic banks in Indonesia which is maximized by digital applications (mobile banking) and religiosity as an intervening variable. This effort was carried out with a quantitative approach as a research method and determined the number of samples as many as 110 respondents using the Yamame formula from a population size whose number is not known for certain, especially bank customers in general whose identities are kept secret. The technique of distributing questionnaires with accidental. While to conduct data analysis other than by multiple regression and MRA. The results of the test and disclosure are known that the quality of digital-based services plays a positive and significant role in increasing customer satisfaction both without and being intervened by religious values. The increase in service quality is not only caused by reliability, responsiveness, assurance, empathy and physical evidence, but the values of Islamic religiosity strengthen customers to use digital applications (mobile banking).

Social Media and The Boycott Behavior of Indonesian Investors due to The Israeli-Palestinian Conflict: The Role of Hatred as a Mediator

2026-01-20T11:37:19+07:00

Objective: The ongoing boycott movement of products affiliated with Israel has caused a decline in sales and could potentially lower stock prices. This study focuses on the perspective of investors in the behavior of boycotting Israeli-affiliated companies, with antecedents of the role of social media and hatred. Methods: This study used random and simple snowball sampling techniques and collected 358 respondents. Respondents received the accessible questionnaires via social media and direct delivery. The statistical procedures applied for hypothesis testing include validity and reliability testing, discriminant validity, multicollinearity, heterotrait-monotrait ratio (HTMT), and direct and mediation hypothesis testing. Results: The study shows that hatred significantly arises from social media exposure; social media and hatred influence stock boycott behavior. In contrast, hatred is important in mediating the influence of social media and investor behavior. Recommendation: The study's results provide empirical evidence and contributions regarding the factors influencing investors' boycott behavior and enrich the literature on the antecedents and consequences of intentions in investment boycotts.

Islamic Financial Integration: The Operational Integration Dimension of Indonesian Students Business Activities at Al-Azhar University Cairo

2026-01-20T11:37:16+07:00

Purpose – This study aims to analyze the factors influencing the intention of Indonesian students at Al-Azhar University, Cairo, to implement the operational integration of Islamic social and commercial finance in their entrepreneurial ventures. Holistic Islamic finance encompasses both social (zakat, infaq, waqf, and microfinance) and commercial aspects; however, integrating these components operationally remains a challenge. This research examines the influence of five variables—religiosity, knowledge, attitude, functional factors, and trust—on the intention to operationally integrate Islamic finance.

Methodology – A quantitative approach was employed using Partial Least Squares - Structural Equation Modeling (PLS-SEM). The study sample comprised 91 Indonesian students at Al-Azhar University who are engaged in business activities. The findings reveal that four variables—attitude, religiosity, knowledge, and trust—have a significant positive effect on the intention to integrate Islamic finance, whereas functional factors do not exhibit a significant influence. This study contributes theoretically by extending the Theory of Planned Behaviour (TPB) within the context of Islamic finance, and practically by informing strategies to enhance student participation in Islamic finance integration.

Findings – These findings can also serve as a foundation for developing policies aimed at strengthening the role of Islamic financial institutions in supporting sustainable social-commercial integration. The study provides both theoretical contributions, through the expansion of the TPB model in the Islamic finance context, and practical contributions, by offering insights into strategic efforts to increase student involvement in the integration of Islamic finance.

Keywords: Islamic Financial Integration, Intention, Religiosity, Theory of Planned Behaviour, Al-Azhar Students, PLS-SEM

What Can Affect Gen Y’s Purchase Intention of Halal Food in Indonesia?

2026-01-20T11:37:14+07:00

Abstract

This study aims to analyze religiosity and the theory of planned behavior factors that influenced Gen Y’s purchase intention of Halal food in Indonesia. The mediating effect of attitude towards intention to purchase Halal food was also investigated. This research method employs the Structural Equation Modeling (SEM) method where the sampling technique is purposive sampling with 415 young Muslim millennials generations who live in Indonesia. Data were collected through disseminating questionnaires. This result of study is religiosity has no effect on the purchase intention of Halal food and the subjective norm has no effect on the purchase intention of Halal food in Indonesia. On the other side, the attitude affects the purchase intention of Halal food, and perceived behavior control affects Halal food purchase intention. Religiosity affects attitude. Religiosity affects the purchase intention of Halal food through attitude.

Keywords: Religiosity, Purchase Intention, Halal Food, SEM

The Influence of Digital Literacy, Fintech Usage, and Business Innovation on the Financial Reporting Quality of MSMEs through Accounting Process Efficiency as a Mediating Variable

2026-01-20T11:37:13+07:00

Purpose: This study aims to examine the influence of digital literacy, fintech usage, and business innovation on the financial reporting quality of MSMEs in Bandung City, with accounting process efficiency as a mediating variable. Method: A quantitative approach was employed using a cross-sectional survey method involving 100 MSMEs. Data were analyzed using Structural Equation Modeling–Partial Least Squares (SEM-PLS) to test the relationships between variables. Findings: The results show that digital literacy and business innovation have a positive and significant effect on financial reporting quality, both directly and through accounting process efficiency. Conversely, fintech usage does not show a significant impact. Accounting process efficiency is proven to be an important mediator that strengthens the influence of digital literacy and innovation on financial reporting. Implications: Theoretically, this study reinforces the TAM, RBV, and Information Quality Theory models by highlighting the mediating role of accounting process efficiency. Practically, the findings emphasize the need for digital literacy training integrated with accounting practices and the development of fintech systems that are compatible with MSME bookkeeping.

Government Spending and Islamic HDI: Evidence of Islamic Sharia Implementation in Indonesia

2026-01-20T11:37:11+07:00

Purpose – This study aims to see the extent of the application of Islamic law by looking through indicators of human quality measurement based on sharia maqashid known as the Islamic Human Development Index (IPT) compared to the Human Development Index (HDI) based on the realization of government expenditure consisting of education functions, health functions, economic functions, infrastructure functions, social protection functions, environmental functions, order and security, tourism and cultural functions in Aceh Province as one of the provinces in Indonesia have implemented Islamic Law. Method – This study uses panel data with 277 observation data consisting of 23 districts and cities in Aceh Province with a period of 2013 - 2024. The approach used was multiple linear regression with an analysis tool using Eviews 12. Findings – The results of the study show that government spending simultaneously has a significant effect on IHDI and HDI. Government spending on infrastructure and environmental functions has a significant influence on IHDI. Meanwhile, in conventional human development, there is not a single expenditure function that has a significant effect on HDI. Implications – Examine the extent to which government spending can contribute to the enforcement of Islamic sharia in Indonesia's specific regions.

Enhancing Employee Retention Through the Moderating Effects of Organizational Justice and Work–Life Balance Among Employees of Three-Star Hotels in Pontianak City

2026-01-20T11:37:09+07:00

This study examines the effect of role conflict on employee retention, moderated by organizational justice and work-life balance, based on data collected from 250 randomly selected respondents from 14 three-star hotels in Pontianak City. Based on the average responses, it can be concluded that the participants experienced a high level of role conflict, held positive perceptions of organizational justice and work-life balance, and also reported high levels of retention.

Overall, the hypotheses of this study are supported. Role conflict is found to be a significant negative predictor of employee retention, while organizational justice and work-life balance are significant positive predictors. Regarding the moderating effects, both moderating variables significantly influence the relationship between role conflict and employee retention. Specifically, organizational justice weakens the negative impact of role conflict on employee retention, whereas work-life balance unexpectedly strengthens the negative effect of role conflict on retention.

When the direct and moderating effects were examined at the indicator level, only 2 out of 4 indicators of organizational justice and 3 out of 4 indicators of work-life balance were found to be significant predictors of employee retention. Furthermore, only 3 out of 4 organizational justice indicators and 1 out of 4 work-life balance indicators significantly moderated the relationship between role conflict and employee retention. Among the indicators tested, informational justice and interference of personal life with work emerged as the strongest predictors of employee retention.

To improve the quality of future research, it is recommended to conduct analyses based on generational cohorts, as each generation tends to hold different perspectives regarding the variables examined in this study.

Integrating Productive Waqf and Green Economy: Implementation in Empowering the Economy of Coastal Communities in The Malacca Strait

2026-01-20T11:37:07+07:00

Purpose -This study aims to explore the integration of productive waqf and green economy as a strategic model for empowering coastal communities in the Straits of Malacca. The focus lies on how waqf, as an Islamic social finance instrument, can support sustainable development by aligning with the principles of resource efficiency, low carbon practices, and social inclusiveness. Method - The research employs a library research design with a qualitative descriptive-analytical approach. Data were collected from books, peer-reviewed journals, official reports from institutions such as BWI, UNEP, and UNDP, as well as fatwas from DSN-MUI and relevant academic studies. The analysis technique used content analysis, thematic comparison, and normative interpretation to examine the synergy between productive waqf and green economy in coastal community development. Findings - The study reveals that productive waqf has strong potential to be integrated into green economy initiatives, such as financing renewable energy projects in coastal areas, supporting sustainable aquaculture, establishing halal-based eco-tourism, and developing waste management for marine products. This integration not only contributes to economic resilience but also preserves marine ecosystems and aligns with maqāṣid al-sharī‘ah in safeguarding life, wealth, and the environment. Furthermore, the Straits of Malacca context highlights the strategic urgency of such a model due to its economic potential and ecological vulnerability. Implications - Theoretically, this research expands the discourse on waqf by situating it within the framework of sustainable development and global SDGs. Practically, it offers recommendations for local governments, the Indonesian Waqf Board (BWI), and nazir to adopt green economy-oriented approaches in managing waqf assets. The study also suggests further empirical research on the implementation of productive waqf projects in Indonesian coastal regions to validate and enrich the conceptual framework proposed

The Success of Syirkah MSMEs: Literacy, Trust, ICG, and Fintech

2026-01-20T11:37:05+07:00

Purpose - This study aims to analyze the determinants of direct shirkah success in MSMEs in Pekanbaru using a mixed-methods approach. Method - In-depth interviews were conducted with 10 key informants, followed by a survey of 200 respondents. Quantitative analysis using Structural Equation Modeling-Partial Least Squares (SEM-PLS) with SmartPLS 4. Findings - The results show that Islamic financial literacy and trust have a significant effect on Islamic Corporate Governance (ICG). Furthermore, ICG plays a crucial role in enhancing business performance and sustainability. Islamic fintech has been proven to mediate the influence of literacy on sustainability, while ICG moderates the relationship between risk management and business sustainability. Regulatory support has no significant effect on ICG, indicating a policy gap. Implications - This research contributes to the Islamic finance literature by integrating aspects of literacy, social capital, Islamic governance, financial technology, and spiritual capital. The practical implications are intended for MSMEs, regulators, and Islamic financial institutions to strengthen literacy, clarify contracts, and optimize the use of Islamic fintech.

The Blue Waqf Model Integrating Blue Economy and Productive Waqf for Coastal Empowerment

2026-01-20T11:37:03+07:00

This study aims to formulate and validate the Blue Waqf Model as an innovative framework integrating Islamic social finance with the blue economy to achieve sustainable coastal community empowerment. Employing a qualitative descriptive approach, thirty‑two participants were involved, including waqf administrators, Islamic financial officers, fishermen cooperatives, and local government officials in Central Java. Data were collected through semi‑structured interviews, focus group discussions, and document analysis, and analyzed using thematic content methods to identify key emerging patterns. The results demonstrate that Blue Waqf effectively bridges Islamic philanthropy and marine‑based economic resilience. Three pillars underpin its success: financial innovation through Cash Waqf Linked Blue Sukuk, blockchain‑based digital transparency, and cross‑sectoral collaboration among public, private, and religious institutions. Implementation of the model improved fishermen household income by 24 percent and environmental participation by 37 percent. The study contributes theoretically to the discourse on Islamic sustainable finance and provides an applied framework for faith‑based blue‑economy policy. Its practical implications highlight the importance of collaborative governance and Sharia‑compliant financing mechanisms to support long‑term coastal resilience and sustainability.