Pub Date : 2023-09-05DOI: 10.20885/risfe.vol2.iss2.art1
Moh Najikhul Fajri, Siti Munawaroh
Purpose – This study aims to examine the relationship and influence of the level of religiosity (obedience and piety) on stable business success for millennial Islam in Indonesia.Methodology – This study uses multinomial logit qualitative response regression to estimate religiosity's impact on business success. This study uses 5,252 individuals who are Muslim and have their businesses in IFLS data. Religiosity is measured through the level of the piety of millennial Muslims, while business success is proxied by using profitability.Findings – The results show that the religiosity of the millennial generation has a significant positive effect on the profitability of medium and low-class businesses. Meanwhile, the religiosity level of the millennial generation was also found to have a significant adverse effect on the profitability of upper-level businesses. On the other hand, a better level of millennial education and asset ownership also contributes to one's chances of getting a much higher profit than others. Finally, Muslims in urban areas get better profits than those in rural areas.Implications – Most millennial Muslims in the upper-class profitability have lower religiosity than other classes. It indicates that more and more people are involved in businesses that have the potential to violate religious values and are sure to be less obedient to worship. It is highly correlated with the amount of acquisition he gets. Meanwhile, for other classes, for example, the profit obtained is much lower, correlated with the habit of worshiping and religious observance, but does not rule out daily work and business so that sustainability is still obtained.Originality – No previous research has discussed the influence of the level of religiosity associated with business success among Muslim millennials.
{"title":"The effect of religiosity level on entrepreneurial sustainability of Muslim millennials: A case study of the Indonesian family life survey","authors":"Moh Najikhul Fajri, Siti Munawaroh","doi":"10.20885/risfe.vol2.iss2.art1","DOIUrl":"https://doi.org/10.20885/risfe.vol2.iss2.art1","url":null,"abstract":"Purpose – This study aims to examine the relationship and influence of the level of religiosity (obedience and piety) on stable business success for millennial Islam in Indonesia.Methodology – This study uses multinomial logit qualitative response regression to estimate religiosity's impact on business success. This study uses 5,252 individuals who are Muslim and have their businesses in IFLS data. Religiosity is measured through the level of the piety of millennial Muslims, while business success is proxied by using profitability.Findings – The results show that the religiosity of the millennial generation has a significant positive effect on the profitability of medium and low-class businesses. Meanwhile, the religiosity level of the millennial generation was also found to have a significant adverse effect on the profitability of upper-level businesses. On the other hand, a better level of millennial education and asset ownership also contributes to one's chances of getting a much higher profit than others. Finally, Muslims in urban areas get better profits than those in rural areas.Implications – Most millennial Muslims in the upper-class profitability have lower religiosity than other classes. It indicates that more and more people are involved in businesses that have the potential to violate religious values and are sure to be less obedient to worship. It is highly correlated with the amount of acquisition he gets. Meanwhile, for other classes, for example, the profit obtained is much lower, correlated with the habit of worshiping and religious observance, but does not rule out daily work and business so that sustainability is still obtained.Originality – No previous research has discussed the influence of the level of religiosity associated with business success among Muslim millennials.","PeriodicalId":250607,"journal":{"name":"Review of Islamic Social Finance and Entrepreneurship","volume":"34 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124942731","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-05DOI: 10.20885/risfe.vol2.iss2.art3
Endro Tri Susdarwono, S. T. Huda, Article Info
Purpose – This study aims to describe the perception of the importance of philanthropy in today's difficult times according to the classification of generations based on Beresford. Methodology – The approach in this study uses a mixed methods research type. The research sample included 400 respondents who traveled with their destination in Pemalang Regency from December to January 2023. The sampling technique used random sampling. While the instrument used in this research is a questionnaire. The data analysis technique uses hypothesis testing on signs and independence hypothesis testing through the Khai-Square distribution. Findings – Based on the hypothesis testing steps above, it is stated that for testing the hypothesis on the sign it is concluded that philanthropy as a part of Islamic social finance is important in today's difficult conditions. As for the independence test, it was concluded that there was no influence between the grouping of generations, according to Beresford Research on the importance of philanthropy as a part of Islamic social finance in difficult times.Implications – Philanthropy is a form of programmed social generosity and is aimed at alleviating social problems (such as poverty) in the long term. Originality – The fundamental difference between this study and previous research lies in using data analysis techniques using non-parametric statistical tests. So, it has a more scientific level of testing results.
{"title":"Perceptions of the importance of philanthropy according to the classification of generations based on Beresford Research","authors":"Endro Tri Susdarwono, S. T. Huda, Article Info","doi":"10.20885/risfe.vol2.iss2.art3","DOIUrl":"https://doi.org/10.20885/risfe.vol2.iss2.art3","url":null,"abstract":"Purpose – This study aims to describe the perception of the importance of philanthropy in today's difficult times according to the classification of generations based on Beresford. Methodology – The approach in this study uses a mixed methods research type. The research sample included 400 respondents who traveled with their destination in Pemalang Regency from December to January 2023. The sampling technique used random sampling. While the instrument used in this research is a questionnaire. The data analysis technique uses hypothesis testing on signs and independence hypothesis testing through the Khai-Square distribution. Findings – Based on the hypothesis testing steps above, it is stated that for testing the hypothesis on the sign it is concluded that philanthropy as a part of Islamic social finance is important in today's difficult conditions. As for the independence test, it was concluded that there was no influence between the grouping of generations, according to Beresford Research on the importance of philanthropy as a part of Islamic social finance in difficult times.Implications – Philanthropy is a form of programmed social generosity and is aimed at alleviating social problems (such as poverty) in the long term. Originality – The fundamental difference between this study and previous research lies in using data analysis techniques using non-parametric statistical tests. So, it has a more scientific level of testing results.","PeriodicalId":250607,"journal":{"name":"Review of Islamic Social Finance and Entrepreneurship","volume":"696 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133234655","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-05DOI: 10.20885/risfe.vol2.iss2.art5
Abbiyu Muhamad Ghozali, Article Info
Purpose – This paper aims to discuss the proposed model, called Integrated Cash Waqf and Islamic Crowdfunding Model (I-CWCM), for small and medium enterprises (SMEs), including micro-enterprises and household businesses in the digital era.Methodology – The author documents some cash waqf models and Islamic crowdfunding models that have been developed by previous researchers. And then modified and introduces the I-CWCM model based on the relevant literature study.Findings – In this model, the cash waqf funds (temporary and perpetual) will be invested in Islamic investments and productive asset programs. The investment return gained from cash waqf investments will be utilized for providing financial services by using PLS financing schemes and non-PLS financing schemes for SMEs.Implications – The article is conceptual in nature, and the developed model has not been tested either through interviews or empirical testing. For further research, it is necessary to validate the model either through interviews or by developing hypotheses. Furthermore, the I-CWCM will be possible to set up Islamic social finance institutions, Islamic financial institutions, and Islamic microfinance institutions in a country with a majority Muslim population like Indonesia, especially in times of crisis such as Covid-19 outbreaks.Originality – The originality of this study is the I-CWCM will include two important unit funds: (1) the reserve fund is for sustaining the cash waqf founder, and (2) the backup risk fund is for addressing any risk in business and non-business financing activities.
{"title":"An integrated cash waqf and Islamic crowdfunding model (I-CWCM) for SMEs: Policy implications for the post-Covid-19 pandemic","authors":"Abbiyu Muhamad Ghozali, Article Info","doi":"10.20885/risfe.vol2.iss2.art5","DOIUrl":"https://doi.org/10.20885/risfe.vol2.iss2.art5","url":null,"abstract":"Purpose – This paper aims to discuss the proposed model, called Integrated Cash Waqf and Islamic Crowdfunding Model (I-CWCM), for small and medium enterprises (SMEs), including micro-enterprises and household businesses in the digital era.Methodology – The author documents some cash waqf models and Islamic crowdfunding models that have been developed by previous researchers. And then modified and introduces the I-CWCM model based on the relevant literature study.Findings – In this model, the cash waqf funds (temporary and perpetual) will be invested in Islamic investments and productive asset programs. The investment return gained from cash waqf investments will be utilized for providing financial services by using PLS financing schemes and non-PLS financing schemes for SMEs.Implications – The article is conceptual in nature, and the developed model has not been tested either through interviews or empirical testing. For further research, it is necessary to validate the model either through interviews or by developing hypotheses. Furthermore, the I-CWCM will be possible to set up Islamic social finance institutions, Islamic financial institutions, and Islamic microfinance institutions in a country with a majority Muslim population like Indonesia, especially in times of crisis such as Covid-19 outbreaks.Originality – The originality of this study is the I-CWCM will include two important unit funds: (1) the reserve fund is for sustaining the cash waqf founder, and (2) the backup risk fund is for addressing any risk in business and non-business financing activities.","PeriodicalId":250607,"journal":{"name":"Review of Islamic Social Finance and Entrepreneurship","volume":"117 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"133558800","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-05DOI: 10.20885/risfe.vol2.iss2.art2
Tri Wahyudi, Nur Sabrina, Camka Ayu Pratiwi, Erlina Sari Pohan
Purpose – Disclosure of information is crucial for company values and minimizing conflicts resulting from knowledge asymmetry, especially in social aspects. Stakeholders require information reporting that is transparent, accountable, responsible, and exhaustive. In this study, the independent variables are independent commissioners and audit committees, and the dependent variable is Islamic social reporting. The size of the company served as the control variable for this study.Methodology – The population in this study used sharia companies registered in the Jakarta Islamic Index (JII) for the period 2016-2022. This study used the purposive sampling method and selected 13 companies from a total of 30 companies with data collection twice a year. The analysis technique used is multiple linear regression with SPSSv22 software.Findings – The results of this study show that independent commissioners and audit committees do not affect Islamic social reporting.Implications – This study aims to determine the influence of independent commissioners and audit committees on Islamic social reporting.Originality – This study has originality in the form of Islamic Social Reporting (ISR) proxy variables, which combines the ISR disclosure index designed by Haniffa and Cooke (2002) and Othman and Thani (2010). There are 48 ISR disclosure items divided into six themes. In addition, in this study, there is a control variable, namely the size of the company used to improve the accuracy of the research
{"title":"Sustainable sharia company ecosystem: Independent commissioner and audit committee on Islamic social reporting","authors":"Tri Wahyudi, Nur Sabrina, Camka Ayu Pratiwi, Erlina Sari Pohan","doi":"10.20885/risfe.vol2.iss2.art2","DOIUrl":"https://doi.org/10.20885/risfe.vol2.iss2.art2","url":null,"abstract":"Purpose – Disclosure of information is crucial for company values and minimizing conflicts resulting from knowledge asymmetry, especially in social aspects. Stakeholders require information reporting that is transparent, accountable, responsible, and exhaustive. In this study, the independent variables are independent commissioners and audit committees, and the dependent variable is Islamic social reporting. The size of the company served as the control variable for this study.Methodology – The population in this study used sharia companies registered in the Jakarta Islamic Index (JII) for the period 2016-2022. This study used the purposive sampling method and selected 13 companies from a total of 30 companies with data collection twice a year. The analysis technique used is multiple linear regression with SPSSv22 software.Findings – The results of this study show that independent commissioners and audit committees do not affect Islamic social reporting.Implications – This study aims to determine the influence of independent commissioners and audit committees on Islamic social reporting.Originality – This study has originality in the form of Islamic Social Reporting (ISR) proxy variables, which combines the ISR disclosure index designed by Haniffa and Cooke (2002) and Othman and Thani (2010). There are 48 ISR disclosure items divided into six themes. In addition, in this study, there is a control variable, namely the size of the company used to improve the accuracy of the research","PeriodicalId":250607,"journal":{"name":"Review of Islamic Social Finance and Entrepreneurship","volume":"71 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"122009087","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-09-05DOI: 10.20885/risfe.vol2.iss2.art4
Aftuqa Sholikatur Rohmania, Erlinda Sholihah, Article Info
Purpose – This study aims to analyze the efficiency of BAZNAS performance for 20 years, during 2002-2021.Methodology – This research uses a quantitative approach with the Data Envelopment Analysis (DEA) method. The secondary data source is an annual report from the official National Amil Zakat Agency (Badan Amil Zakat Nasional, BAZNAS) website from 2002-2021. The analysis technique is assisted by maxDEA software.Findings – The results showed BAZNAS gained an average efficiency of over the period 2002 - 2021 worth 90.86%, meaning that over the 20 years, BAZNAS operated showed a level of inefficiency. Further analysis, during 2018-2021, BAZNAS has shown its productivity in improving performance efficiency by achieving an optimal efficiency level worth 100%. That implies BAZNAS needs to improve its management performance by considering the suitability of inputs and outputs.Implications – This research contributes to improving knowledge about BAZNAS performance efficiency. This research also provides insights for policymakers as an evaluation and decision-making in improving the performance of zakat institutions, especially BAZNAS.Originality – This research saw the efficiency of BAZNAS’ performance for 20 years or from its operation until now. It can show the level of public trust in BAZNAS in the management of zakat, infaq, and sadaqah (ZIS) in Indonesia.
{"title":"The efficiency of 20 years of Indonesian zakat institution: Data Envelopment Analysis (DEA) approach","authors":"Aftuqa Sholikatur Rohmania, Erlinda Sholihah, Article Info","doi":"10.20885/risfe.vol2.iss2.art4","DOIUrl":"https://doi.org/10.20885/risfe.vol2.iss2.art4","url":null,"abstract":"Purpose – This study aims to analyze the efficiency of BAZNAS performance for 20 years, during 2002-2021.Methodology – This research uses a quantitative approach with the Data Envelopment Analysis (DEA) method. The secondary data source is an annual report from the official National Amil Zakat Agency (Badan Amil Zakat Nasional, BAZNAS) website from 2002-2021. The analysis technique is assisted by maxDEA software.Findings – The results showed BAZNAS gained an average efficiency of over the period 2002 - 2021 worth 90.86%, meaning that over the 20 years, BAZNAS operated showed a level of inefficiency. Further analysis, during 2018-2021, BAZNAS has shown its productivity in improving performance efficiency by achieving an optimal efficiency level worth 100%. That implies BAZNAS needs to improve its management performance by considering the suitability of inputs and outputs.Implications – This research contributes to improving knowledge about BAZNAS performance efficiency. This research also provides insights for policymakers as an evaluation and decision-making in improving the performance of zakat institutions, especially BAZNAS.Originality – This research saw the efficiency of BAZNAS’ performance for 20 years or from its operation until now. It can show the level of public trust in BAZNAS in the management of zakat, infaq, and sadaqah (ZIS) in Indonesia.","PeriodicalId":250607,"journal":{"name":"Review of Islamic Social Finance and Entrepreneurship","volume":"81 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-09-05","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"128931945","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-04-04DOI: 10.20885/risfe.vol2.iss1.art6
M. K. Fikri, Rizky Andrean
Purpose – This study aims to describe how the green waqf-based model through sharia crowdfunding platform for sustainable Tamanu industrial development in Indonesia. The Tamanu industry is a sustainable industry engaged in the agricultural sector (agro-based industry) based on the utilization of Tamanu plants (Calophyllum inophyllum), which can consist of the plantation industry, biofuel industry and pharmaceutical and cosmetic industry.Methodology – This research uses a descriptive qualitative approach in the form of a literature study of various literature relevant to the research topic. This research is a type of development research to formulate a model to answer the existing problems on how to find funding solutions for developing the Tamanu industry in Indonesia.Findings – A green waqf-based financing model through a Sharia crowdfunding platform can be a solution to financing the sustainable Tamanu industry.Implications – Through this model, the potential of existing waqf can be further maximized to impact the community's economic progress and environmental sustainability through developing a sustainable Tamanu industry.Originality – This model is an elaboration between studies on renewable energy, Islamic philanthropy, Sharia financial technology, and green industry to support achieving sustainable development goals in Indonesia.
{"title":"Development of sustainable Tamanu industry in Indonesia based on the green waqf model through sharia crowdfunding platforms","authors":"M. K. Fikri, Rizky Andrean","doi":"10.20885/risfe.vol2.iss1.art6","DOIUrl":"https://doi.org/10.20885/risfe.vol2.iss1.art6","url":null,"abstract":"Purpose – This study aims to describe how the green waqf-based model through sharia crowdfunding platform for sustainable Tamanu industrial development in Indonesia. The Tamanu industry is a sustainable industry engaged in the agricultural sector (agro-based industry) based on the utilization of Tamanu plants (Calophyllum inophyllum), which can consist of the plantation industry, biofuel industry and pharmaceutical and cosmetic industry.Methodology – This research uses a descriptive qualitative approach in the form of a literature study of various literature relevant to the research topic. This research is a type of development research to formulate a model to answer the existing problems on how to find funding solutions for developing the Tamanu industry in Indonesia.Findings – A green waqf-based financing model through a Sharia crowdfunding platform can be a solution to financing the sustainable Tamanu industry.Implications – Through this model, the potential of existing waqf can be further maximized to impact the community's economic progress and environmental sustainability through developing a sustainable Tamanu industry.Originality – This model is an elaboration between studies on renewable energy, Islamic philanthropy, Sharia financial technology, and green industry to support achieving sustainable development goals in Indonesia.","PeriodicalId":250607,"journal":{"name":"Review of Islamic Social Finance and Entrepreneurship","volume":"90 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-04-04","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124941953","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-28DOI: 10.20885/risfe.vol2.iss1.art1
Purpose – This study aims to identify the contribution of Islamic social finance (Zakat, Infaq, and Shadaqah or ZIS) to economic growth in Indonesia, both in the long-term and short-term models. Based on previous studies, government expenditure; investment; and trade openness are also included in the model as control variables.Methodology – Annual time series data for 21 years from 2002 to 2022 were analyzed using the Error Correction Model (ECM) approach to determine the long-term and short-term effects of independent variables on economic growth.Findings – The main findings of this study confirm that Islamic social finance (ZIS) is a financial instrument that benefits the economy. ZIS can be an alternative fund for overcoming various problems of the Muslim Ummah and revitalizing the economy, even more so in a country with a majority Muslim population like Indonesia where ZIS instruments such as Zakat are obligatory to be issued to able-bodied Muslims. The study results show that the effect of ZIS on economic growth in Indonesia is felt in the long term, while in the short term, it has no significant impact.Implication – This research provides insight for related parties (especially National Board of Zakat/Badan Amil Zakat Nasional, BAZNAS) further to optimize the potential of ZIS into productive sectors to improve the economy.Originality – Most previous studies used panel data with a limited period to estimate the effect of Islamic social finance on economic growth, while this research utilized time series data with the ECM approach for a longer period.
{"title":"The contribution of Islamic social finance to economic growth in Indonesia","authors":"","doi":"10.20885/risfe.vol2.iss1.art1","DOIUrl":"https://doi.org/10.20885/risfe.vol2.iss1.art1","url":null,"abstract":"Purpose – This study aims to identify the contribution of Islamic social finance (Zakat, Infaq, and Shadaqah or ZIS) to economic growth in Indonesia, both in the long-term and short-term models. Based on previous studies, government expenditure; investment; and trade openness are also included in the model as control variables.Methodology – Annual time series data for 21 years from 2002 to 2022 were analyzed using the Error Correction Model (ECM) approach to determine the long-term and short-term effects of independent variables on economic growth.Findings – The main findings of this study confirm that Islamic social finance (ZIS) is a financial instrument that benefits the economy. ZIS can be an alternative fund for overcoming various problems of the Muslim Ummah and revitalizing the economy, even more so in a country with a majority Muslim population like Indonesia where ZIS instruments such as Zakat are obligatory to be issued to able-bodied Muslims. The study results show that the effect of ZIS on economic growth in Indonesia is felt in the long term, while in the short term, it has no significant impact.Implication – This research provides insight for related parties (especially National Board of Zakat/Badan Amil Zakat Nasional, BAZNAS) further to optimize the potential of ZIS into productive sectors to improve the economy.Originality – Most previous studies used panel data with a limited period to estimate the effect of Islamic social finance on economic growth, while this research utilized time series data with the ECM approach for a longer period.","PeriodicalId":250607,"journal":{"name":"Review of Islamic Social Finance and Entrepreneurship","volume":"50 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"116814453","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-28DOI: 10.20885/risfe.vol2.iss1.art2
Purpose – This research is to study Zakat, Infak, Shadaqah, and Waqf (ZISWAF) through fintech for the millennial generation, considering the enormous potential of the millennial generation in Indonesia. Assisted by adopting and modifying the theories of Theory of Planned Behavior (TPB) and Unified Theory of Acceptance and Use of Technology (UTAUT).Methodology – The approach used in this research is quantitative, with primary data as the data type. The data analyst used is in the form of SEM-PLS, assisted by adopting and modifying the theories of the TPB and the UTAUT.Findings – The results show that millennial intentions to make ZISWAF payments using fintech are not affected by behavioral control, but subjective norms and performance expectations greatly impact individual attitudes. Then, in making ZISWAF payments using fintech for the millennial generation, business expectations significantly impact individual intentions. At the same time, performance expectations, facilitation conditions, and individual attitudes do not affect individual intentions. The final results show that personal views do not moderate the relationship between subjective norms, perceptions of behavioral control, and performance expectations on individual intentions to make ZISWAF payments through fintech in the millennial era.Implications – National Board of Zakat (Badan Amil Zakat Nasional, BAZNAS) and Amil Zakat Institution (Lembaga Amil Zakat, LAZ) must promote their goods in connection to ZISWAF payments on a predefined digital platform and a way to get millennials interested in ZISWAF via fintech.Originality – This study uses the collaboration theory of TPB and UTAUT, so not many use it, especially in research on public perceptions of paying ZISWAF through fintech.
{"title":"Zakat, infaq, shadaqah, and waqf using financial technology: Millennial generation perspective","authors":"","doi":"10.20885/risfe.vol2.iss1.art2","DOIUrl":"https://doi.org/10.20885/risfe.vol2.iss1.art2","url":null,"abstract":"Purpose – This research is to study Zakat, Infak, Shadaqah, and Waqf (ZISWAF) through fintech for the millennial generation, considering the enormous potential of the millennial generation in Indonesia. Assisted by adopting and modifying the theories of Theory of Planned Behavior (TPB) and Unified Theory of Acceptance and Use of Technology (UTAUT).Methodology – The approach used in this research is quantitative, with primary data as the data type. The data analyst used is in the form of SEM-PLS, assisted by adopting and modifying the theories of the TPB and the UTAUT.Findings – The results show that millennial intentions to make ZISWAF payments using fintech are not affected by behavioral control, but subjective norms and performance expectations greatly impact individual attitudes. Then, in making ZISWAF payments using fintech for the millennial generation, business expectations significantly impact individual intentions. At the same time, performance expectations, facilitation conditions, and individual attitudes do not affect individual intentions. The final results show that personal views do not moderate the relationship between subjective norms, perceptions of behavioral control, and performance expectations on individual intentions to make ZISWAF payments through fintech in the millennial era.Implications – National Board of Zakat (Badan Amil Zakat Nasional, BAZNAS) and Amil Zakat Institution (Lembaga Amil Zakat, LAZ) must promote their goods in connection to ZISWAF payments on a predefined digital platform and a way to get millennials interested in ZISWAF via fintech.Originality – This study uses the collaboration theory of TPB and UTAUT, so not many use it, especially in research on public perceptions of paying ZISWAF through fintech.","PeriodicalId":250607,"journal":{"name":"Review of Islamic Social Finance and Entrepreneurship","volume":"48 1","pages":"0"},"PeriodicalIF":0.0,"publicationDate":"2023-03-28","publicationTypes":"Journal Article","fieldsOfStudy":null,"isOpenAccess":false,"openAccessPdf":"","citationCount":null,"resultStr":null,"platform":"Semanticscholar","paperid":"124378768","PeriodicalName":null,"FirstCategoryId":null,"ListUrlMain":null,"RegionNum":0,"RegionCategory":"","ArticlePicture":[],"TitleCN":null,"AbstractTextCN":null,"PMCID":"","EPubDate":null,"PubModel":null,"JCR":null,"JCRName":null,"Score":null,"Total":0}
Pub Date : 2023-03-28DOI: 10.20885/risfe.vol2.iss1.art7
Y. Sari
Purpose – This article discusses the increasingly rapid development of the sharia e-commerce in Indonesia, focusing on FinTech peer to peer lending sharia.Methodology – This article uses qualitative methods and literature research (library research), with descriptive analysis techniques related to sharia FinTech lending in Indonesia, as well as a statutory approach, which is classified based on hierarchy and sources of law by comprehensive review.Findings – The theme of this article is that Islamic FinTech lending seeks to understand better how vital economic innovation is needed by society because FinTech lending is a new platform for fast and practical financial transaction services. However, although the Financial Services Authority (Otoritas Jasa Keuangan, OJK) has made FinTech lending regulations, no specific rules explicitly mention sharia FinTech lending. So there is still a possibility that some elements are different from Islamic sharia. So, of course, special regulations regarding sharia FinTech lending are urgently needed so that they follow Islamic laws. Implications – This article is useful, apart from adding to the repertoire, it can also be a means for studying financial service platforms in Indonesian society and can be used as reference material for further research in the same field.Originality – This article contributes to various financial service platforms to continue to improve and innovate in sharia-based financial activities, as well as provide an understanding to the wider community regarding the ease of accessing these sharia financial services
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Pub Date : 2023-03-28DOI: 10.20885/risfe.vol2.iss1.art5
Purpose – This study aims to examine the important role of religion and the contribution of the community to empower women in building women's capabilities as actors in the family economy.Methodology – This study uses a qualitative method with an ethnographic approach and collects data using observation, interviews, and documentation studies.Findings – This study shows that the contextualization of religious teachings, which are widely discussed in religious forums (Payungi Entrepreneurial Pesantren), and the contribution of the community in the actualization of ideas in women's empowerment can change the negative stigma of women and encourage women to become economic actors in the family through women's entrepreneurial activities.Implications – Religion and community can be optimized to encourage women to build capabilities and respond to various forms of inequality. Their existence in empowering women contributes to shaping the character of women entrepreneurs by prioritizing religious and collectivity values.Originality – This study completes the puzzle of previous research deficiencies by revealing phenomena in women's empowerment built from religious spirits and transformative movements produced by the community.
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