Authors:Sulis Riptiono, Muhammad Baehaqi Pages: 1 - 17 Abstract: Introduction: Customer loyalty is a fundamental point in relational marketing that must be maintained and maintained by service providers. The urgency of nurturing loyalty of customers is the goal of this research, namely by developing a framework of customer loyalty in shariah banks using the antecedents to be tested. Method: A total of 250 Indonesian Islamic bank customers in Central Java were used as respondents taken using a convenience sampling technique. The collected data were tested, and the data were analysed using SEM with the AMOS statistical software. Result: The finding of the study shows from the nine hypotheses, there are six hypotheses accepted and three hypotheses rejected. High intrinsic religiosity of customers will increase customer satisfaction, trust and loyalty. Meanwhile, extrinsic religiosity is only able to make customers believe in Islamic banks, but is unable to influence satisfaction and loyalty. Other findings show that customer loyalty is based on their trust in Islamic bank services but is not directly influenced by satisfaction. Conclusion and Suggestion: Meanwhile, customer trust in Islamic banks is formed because of their satisfaction with the service. Although satisfaction is not significant on loyalty, its impact can affect trust, and trust is the key to increasing loyalty. This study's findings offer a new perspective on Islamic bank marketing strategies. By promoting proper service, product development, and operational excellence, these strategies can help build customer trust. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.44849 Issue No:Vol. 10, No. 1 (2024)
Authors:Indri Supriani, Nayaka Artha Wicesa, Yunice Karina Tumewang Pages: 18 - 46 Abstract: Introduction: Islamic stock is believed to be more stable and less risky than conventional stock due to specific screening based on Sharia principles, particularly during economic downturns. This research aims to investigate whether the Covid-19 outbreak caused a structural break in Indonesia's Islamic and conventional stock markets. Methods: This study covers the period from January 2007 to June 2022, divided into sub-periods before Covid-19 (January 2007 to February 2020) and during COVID-19 (March 2020 to June 2022). The study adopts the time series regression method to examine the predicting factors of Islamic and conventional stock indexes, followed by the application of the Chow Breakpoint Test method to determine whether there are structural changes in the Islamic and conventional stock markets due to Covid-19. Results: The results of this study suggest that, in comparison to the period preceding Covid-19, the Islamic stock index demonstrates heightened sensitivity to fluctuations in predicting factors during the pandemic. Additionally, there is an absence of any structural break observed in conventional indices. Consequently, Islamic stocks exhibit lower resistance during crisis periods than conventional stocks. Conclusion and suggestion: This finding prompts a comprehensive evaluation of the Sharia screening standards by policymakers to enhance the resilience of Islamic stocks during economic turmoil. Moreover, based on the results, it is suggested that investors cannot consider the Islamic stock index as a 'safe-haven' instrument during financial turmoil. The result of this research assist investors in adjusting their investment strategies more effectively, particularly in bearish market conditions. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.46353 Issue No:Vol. 10, No. 1 (2024)
Authors:Muhammad Fathoni Yasin, Nur Aini, Ratna Yulika Go Pages: 47 - 66 Abstract: Introduction: Indonesia possesses a significant potential for Zakah, yet the collected amount currently only reaches around 4.3%. This requires a diligent and dedicated effort to continuously enhance the growth of the collection, one of which is through the management strategy of Zakat Institutions. This research focuses on LAZ Zakat Sukses, the Best City-level LAZ at the National level with outstanding performance. Methods: This study aims to ascertain the internal and external factors held by the institution and determine the most appropriate strategy to maximize its performance achievements. Employing a qualitative descriptive research method involving internal and external analysis, this research utilizes matrices such as IFE, EFE, SWOT, IE, BCG, and QSPM. Results: The findings of this research indicate that the most suitable strategy for this Institution based on its current fundamental conditions is Market Development. Market development is a strategy aimed at expanding the organization's reach by entering new markets or segments with existing products or services. Conclusion and suggestion: Particularly expanding into new territories, is a promising direction for Zakat Sukses. Key points and actions to consider when implementing this strategy are Geographical Expansion, Strategic Partnerships, Strengthen Volunteer Network, Synergy and Collaborative Programs, Digital Platform Expansion, Fundraising and Program Distribution, Monitoring and Evaluation, Communication and Outreach, Risk Management, Sustainability. Successful market development and expansion require careful planning, strong execution, and adaptability to changing circumstances. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.49973 Issue No:Vol. 10, No. 1 (2024)
Authors:Juliana Juliana, Bahtiar Adamsah, Suci Apriliani Utami, Firman Menne, Shafinar Ismail, Qudratov Inomjon Pages: 67 - 90 Abstract: Introduction: To determine the influence of price levels, celebrity endorser, halal lifestyle and the level of halal labels as an intervening variable in purchasing decisions for Kahf products in Indonesia. Method: The method used in this research is quantitative with a causality. The sample for this research consisted of 240 respondents taken using purposive sampling which was carried out from September – December 2023. The analysis tool used was Partial Least Square – Structural Equation Modeling (PLS-SEM) using the SmartPLS 3 application. Results: The results show price levels, halal lifestyle , celebrity endorsers , halal labels, and purchasing decisions for Kahf products are in the high category. Then, the price level has a positive and significant effect on purchasing decisions for Kahf products , but the level of halal lifestyle and celebrities endorser no effect. Other findings show that the halal label is able to mediate price, halal lifestyle and celebrity endorser on the decision to purchase Kahf products . Conclusion and sugession: The development of marketing strategies by companies that sell at competitive prices, a halal lifestyle, and the support of well-known celebrities can improve the image of halal products and increase the appeal of consuls. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.53969 Issue No:Vol. 10, No. 1 (2024)
Authors:Abdullah Muhammad Al-Kamal, Chetrine Alya Rinaima, Ana Toni Roby Candra Yudha, Andhy Permadi Pages: 91 - 114 Abstract: Introduction: The purpose of this study is to determine the partial influence of service quality and matching algorithm on the satisfaction of female muslim (muslimah) student customers using Gocar services in Surabaya. The research aims to investigate the effect of these two variables. The selection of a ride-hailing service catering to Muslimah-friendly preferences in Surabaya is driven by the increasing demand for such specialized services that are satisfy and safe for Muslimah. Method: Data for this research were collected through questionnaires distributed to 100 muslimah students using Gocar services in Surabaya as the research sample. Surabaya was chosen due to the high demand of this service compared to most other cities in Indonesia. The mixed-method approach involved quantitative analyses such as validity and reliability tests, classic assumption tests, t-tests, F-tests, and the coefficient of determination. Additionally, qualitative data from the interviews were analyzed to provide a comprehensive understanding of customer experiences. Results: The result is both service quality and matching algorithm have a positive impact on customer satisfaction, both individually and simultaneously. However, some criticisms were identified, such as excessive interaction from drivers that made customers uncomfortable and long waiting times for pick-up due to distant driver locations. Conclusion and suggestion: Achieving customer satisfaction is crucial for any company, including Gojek, as the provider of Gocar services. To address customer satisfaction issues, Gojek should provide training on appropriate customer interactions for drivers and improve the matching algorithm to ensure closer driver-customer proximity without relying solely on Gocar instant points. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.47907 Issue No:Vol. 10, No. 1 (2024)
Authors:Milhatun Nisa', Muhammad Ismail Sunni Pages: 115 - 138 Abstract: Introduction: The rise of the internet has revolutionized the way businesses operate and people interact globally, without exception, including Islamic finance. This paper aims to investigate whether or not the level of internet users, GDP per capita, exchange rate, labor force, and poverty are the determinants of the increase of the Islamic Finance Index (IFI) in Indonesia and Malaysia. Methods: This research is a quantitative study that employs a balance panel regression and causality tests for the period 2013 to 2020 quarterly. Results: It is empirically found that there was a relationship between internet users and other macroeconomic variables on IFI in the long term, which was significant. However, only the labor force and exchange rate have significantly and negatively impacted IFI. While the remaining variables were expected to be positive, poverty uniquely did not contribute to the performance of Islamic finance. Furthermore, the empirical findings portrayed that all determinants influenced the endogenous variable, but not the contrary. Conclusion and suggestion: By analyzing and delving into the link between internet users, macroeocnomic factors and Islamic finance, this study fills the literature gap which will be a guide for both policymakers and academies to grasp what dominant variables to prioritize for the acceleration of Islamic finance rectification in both Indonesia and Malaysia, aligned with the increasing rate and impact of internet users. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.48772 Issue No:Vol. 10, No. 1 (2024)
Authors:Rafiatul Ulum, Muhammad Husni Mubarok Pages: 139 - 164 Abstract: Introduction: The development of corporate sukuk in Indonesia increases every year, which is why a credible sukuk rating is very necessary. Sukuk is a sharia investment instrument with minimal risk. This research aims to determine the factors that influence sukuk ratings from non-financial factors such as maturity, sukuk structure and guarantee with profitability as moderation through 130 samples of corporate sukuk issued in 2018-2022. Method: The method used is descriptive analysis, Ordinal Logistic Regression and Moderate Analysis Regression with SPSS 25 software. Results: The research results show that maturity and structure sukuk have a significant negative effect, the guarantee has a significant positive effect on sukuk rating. Profitability is not able to moderate the influence of maturity on sukuk rating, profitability weakens the influence of the sukuk structure on the sukuk rating and profitability strengthens the influence of guarantee on the sukuk rating on the sukuk rating. Conclusion and suggestion: Therefore, potential investors must pay attention to the sukuk ranking and the company's level of profitability before deciding to invest. Companies must pay attention to the company's economic and non-economic conditions in order to minimize the risk of default. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.55287 Issue No:Vol. 10, No. 1 (2024)
Authors:Luthfi Nur Rosyidi, Puji Sucia Sukmaningrum, Tika Widiastuti Pages: 165 - 189 Abstract: Introduction: This research aims to reveal and map the publication regarding zakat to achieve SDGs. Methods: Based on the Scopus database, this study attempts to present an overview of papers, authors, journals, and countries that are prominent in zakat research using the bibliometric technique. Results: Until November 2022, there were 618 documents published by 1,356 authors. And zakat-related research has increased over the last 14 years, with Malaysia having the most authors publishing articles in the field of zakat. Non-Muslim countries, such as the United States, are also included on the list. The research findings show that there are seven pillars in zakat research: pillar 1 (No Poverty), pillar 2 (Zero Hunger), pillar 3 (Good Health & Well-being), pillar 4 (Quality Education), pillar 8 (Decent Work & Economic Growth), pillar 9 (Industry, Innovation, and Infrastructure), and pillar 10 (Industry, Innovation, and Infrastructure). These pillars correspond to the goal of zakat, which is to distribute wealth for the benefit of the people. Conclusion and suggestion: The government is expected to implement regulations and use existing models to optimize zakat to improve SDG achievement. This research can also be used as a guideline for future research by academics based on the trend and the gap research found in this study. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.54251 Issue No:Vol. 10, No. 1 (2024)
Authors:Riska Widya Abiba, Muhtadi Ridwan, Khusnudin Pages: 190 - 219 Abstract: Introduction: This study examines the influence of product knowledge, halal awareness, subjective norms, and attitudes on street food purchasing decisions through purchase intention as a mediating variable. Method: This research includes quantitative research with an explanatory research approach. The population used in this study is Gen Z Muslims in Surabaya. The sample in this study amounted to 330 respondents obtained from the sampling technique, namely accidental sampling. To test the hypotheses built using partial least square (PLS) analysis techniques with Smart-PLS Version 3.2.9 software tools. Results: The results stated that product knowledge, halal awareness, attitude, and subjective norm are not significant effect on purchasing decisions partially. However, all dependent variables affect decisions through purchase intention. Means, customer intentions become critical point before their making purchases. Conclusion and suggestion: In summary, understanding purchase intention through customer behavior is essential to be considered by business actors to increase consumer assessment of these products. In this case, business actors need to educate related to food regulation such as having halal logo and ensure the product safety. By having proper assessment food vendors will be able to promote their product and increase customer purchasing intention. Furthermore, policymakers and related stakeholders also need to support food regulation and safety by having proper law and supply chain of halal ingredients. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.52301 Issue No:Vol. 10, No. 1 (2024)
Authors:Mohammad Iqbal Irfany, Muhammad Alifka Rahmat, Daffa Aqomal Haq Pages: 220 - 244 Abstract: Introduction: Islamic boarding schools have significant potential to boost the Sharia economy, notably through cooperative formation. However, many of these cooperatives, including the Daarut Tauhiid Islamic Boarding School Cooperative (DT Cooperative), are not performing optimally. DT Cooperative contributes only 5% to the school's financial independence, and its residual business result (sisa hasil usaha, SHU) has varied over the last three years. This research aims to identify DT Cooperative's strengths, weaknesses, opportunities, and threats, and to establish strategic priorities for cooperative development. Methods: The Analytical Network Process (ANP) with a Strength-Weakness-Opportunity-Threat (SWOT) network was employed in this study. Results: The findings of this study indicate that strength is the top priority in establishing the DT Cooperative business. The most influential characteristics of strengths, weaknesses, opportunities, and dangers are a structured organization, suboptimal marketing management, a huge market share, and shifting company dynamics. The most important approach to pursue is to increase cooperation among various groups. Conclusion and suggestion: This research highlights the need to improve organizational relationships and address marketing management deficiencies in DT Cooperatives. By leveraging organizational strengths and fostering collaboration, Islamic boarding school cooperatives can better support Sharia economic efforts. Insights from this study apply to Daarut Tauhiid and similar cooperatives, and underscore the importance of policies that enhance training, consultation, and networking among Islamic boarding schools. This study contributes to the economic development knowledge of Islamic boarding schools, particularly cooperatives, in enhancing community welfare and supporting their economic independences. PubDate: 2024-06-30 DOI: 10.20473/jebis.v10i1.50327 Issue No:Vol. 10, No. 1 (2024)
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