Antecedents and Consequences of Muslim Millennials Attitude Towards Halal Personal Care Products

In Indonesia, the millennial generation is the generation that dominates the population. This is a promising target market for companies or producers of personal care products. This research focuses on the attitudes of the millennial generation towards halal personal care products. The method used is quantitative research with primary data taken from 143 millennial generation female consumer respondents in Jakarta and Tangerang with data collection techniques using purposive sampling. The data analysis used is Partial Least Square (PLS) analysis. Based on the results, the attitude of the millennial generation towards halal personal care products is significantly influenced by religiosity and halal knowledge. At the same time, media exposure has no significant influence on the attitude of the millennial generation towards halal personal care products.

Prediction of Islamic Banking Bankruptcy in Indonesia: Comparative Study of Altman Z-Score and Springate Models

Aim of this research is to calculate, measure, analyze, and evaluate predictions of potential bankruptcy of Islamic banking using the modified Altman Z-Score and Springate models and identify differences in the predicted results. This research uses descriptive quantitative analysis. Model analysis used is the Modified Altman Z-Score and Springate models. The research object used is 12 Islamic banks in Indonesia 2013-2019 and data collection includes literature study and observation.Modified Altman Z-Score model predicts that 1.19% of Islamic banking is in gray area and 98.81% is in a non-bankrupt position. Meanwhile, the Springate model predicts 38.10% of Islamic banking is in a bankrupt position and 61.90% is in a non-bankrupt position. This research only analyzes and compares the prediction results of the potential bankruptcy of Islamic banking with the modified Altman Z-Score and Springate models.This research can be used as an evaluation material for Islamic Banking in Indonesia in the face of potential bankruptcy so that companies can immediately improve their management and company performance.

Sharia Board of Islamic Banks and the Attitude of Fatwa Shopping

Fatwa shopping attitude is a process of searching Sharia opinions from different Sharia scholars for suitable and convenient Fatwa to suit the need of bank managers (BMs) even at the minimum level of Sharia compliance. This research was conducted to identify the Sharia Board Members (SBMs) and the new attitude of Fatwa shopping within the supervisory and advisory mandate. The objectives of this study are to identify the mandate of SBMs of IBs and to review the attitude of Fatwa shopping within the advisory and supervisory mandate. Data was collected by way of documentary review method of existing literatures, narrative analysis as well as conceptual approach of analysis. The study gathered that both SBMs and BMs have different objectives when assessing new products which create disagreement of objectives at the strategic level. The study concluded that the leniency in issuing Fatwa ruling might lead SBMs to exercise the attitude of Fatwa shopping or easily compromise toward BMs objectives. A situation of this kind has resulted many challenges toward Sharia complaint, then the products approved by SBMs which have been alleged as non-compliant to Sharia. The findings of this paper can be recommended for regulators, policy makers of Islamic banks and the body of knowledge of researchers for positive use of conceptualizing the current system to suit core component of Islamic Fatwa framework (IFF) in which the attitude of Fatwa shopping would be matter of history in near future.

Economic Growth : The Impact of Zakat Funds and Tax on Business Capital

This study aims to determine the effect of Zakat Funds and Tax on Business Capitales on Economic Growth. The population in this study is the data of the Province of West Java from 2010 to 2017 where the economic growth report, Tax on Business Capital report and zakat fund distribution report are used. The sample taken by the author in this study is the Zakat Fund Distribution Data, Tax on Business Capital Data and the Gross Regional Domestic Product (PDRB) data of West Java Province from 2010 to 2017. Researchers used multiple statistical analysis and correlation methods. To obtain more accurate results in multiple regression analysis, classic assumption testing is executed so that the results obtained are regression equations. The results of the study show that the Zakat Fund Distribution and Tax on Business Capital data have a significant effect on economic growth. Based on data processing, it shows that the distribution of zakat funds and local taxes simultaneously in providing an influence on economic growth variables of 76%. While the rest of 100% - 76% = another 24% is the influence of other variables not examined in this study.Keywords : Zakat Funds; Tax on Business Capital; Economic Growth

Rehabilitation and Reconstruction of the North-East: The Role of Sukuk Financing

The Northeast region of Nigeria has been experiencing the devastating impact of Boko Haram insurgencysince 2009, which triggeredhumanitarian crisis and destruction of infrastructure,such as schools, hospitals, roads, bridges as well as homes and farmlands, leading to many becoming internally displaced persons and refugees. Both governmental and non-governmental organizations have been mostly providing relief services and materials, whilst only few Federal Government agencies and State Governmentsare providing reconstruction and rehabilitation due to insufficient sources of funds(Olaseni, 2012).The emergence of Sukuk to Nigerian Capital Market is a new development that provides alternative funding avenue for both State and Federal Governments to finance projects and infrastructure development for nation building (Alaro, 2020).It is against this backdrop that this study aims to reviewthe approaches of financing rehabilitation and reconstruction programmes in the Northeast and examines how the potentials ofSukuk financing could properly be utilized to complement the infrastructural deficit in the region. Thus, the research is an exploratory qualitative research that sourced cross sectional primary data collected through the use of structured questionnaire. Multistage purposive sampling method was employed in selecting the respondents for the study across the study area. Thematic Analysis was employed as the method of data analysis. Both descriptive and inferential statistics were used to summarize and interpret the results of the thematic analyses of the data obtained.Keywords: North-East, Reconstruction, Rehabilitation and Sukuk Financing

The Influence Of Financing And Third Party Funds (Dpk) Towards Roa Of Islamic Rural Banks (Bprs) In Sumatera Barat

This research aims to investigate the influence of financing and Third Party Funds (DPK) towards the Return on Assets (ROA) of Islamic Rural Banks (BPRS) in West Sumatera. This field research is a quantitative study with seven PT BPRS in West Sumatera as the object of the research. This research uses secondary data in the form of panel data which combined cross section and time series data. The panel data are quarterly financial statements from 2016 to 2018 which are recorded in Financial Service Authority (OJK). The result of this research shows financing and third party funds (DPK) influence ROA in the amount of 59,65% simultaneously. The rest of it are influenced by other factors that are not investigated. Partially, financing is the only subject that has influence toward ROA. Meanwhile, third party funds had no significant influence towards ROA of seven BPRS in West Sumatera. This case is interesting to be researched since quantitative data reflects fluctuation based on financing from 2016 until 2018 while DPK tend to increase. However, financing is the only subject that has significant influence towards ROA.

Modeling Debt And Equity Crowdfunding Based On Murabahah, Musharakah And Mudarabah: Trust And Awareness

Crowdfunding become one of the most effective alternatives for raising funds, although it is not a new phenomenon in developed and developing countries but seems to be new in Nigeria. As such, the study aims to propose Shariah framework that addresses conventional debt and equity crowdfunding, instead, using Murabaha as debt, Mudarabah and Musharakah as equity model and further measure the level of awareness and trust towards behavioural intention towards crowdfunding in Northern Nigeria. The sample was collected from 2730 purposively selected and used Structural Equation Modeling (SEM) for data analysis. Findings, revealed that the proposed structural framework of crowdfunding proved to enhance entrepreneur vision for raising investment fund based on Shariah-compliant in Northern Nigeria. Further indicates, lack of awareness and inappropriate use of internet platform resulted in perceived entirely irrelevant investment opportunities and developed fair to invest online. Practical implications: The paper provides awareness and trust on how to improve debt and equity-based crowdfunding for a fundraiser and successful funding a business structure based on Shariah compliant. Originality/Value: the study makes significant contribution towards propose Shariah framework of crowdfunding in Nigeria, and it provides awareness and trust to Nigerian Muslims entrepreneurs as in line with Shariah-compliant.JEL Classification: E4, O31, O35

The Impact Of Village Funds On Enhanching Welfare Of North Maluku Communities Using Falah Approach

The village fund is the government's effort to reduce poverty in villages in Indonesia, including in North Maluku. From the perspective of development funding, village funds play a major role in improving the quality of villages in North Maluku. But in fact, the poverty rate in North Maluku has actually increased. Based on these facts, this paper seeks to explain how the effectiveness of village funds is to reduce poverty and improve community welfare. To answer this problem, a qualitative research approach was carried out by the method of collecting in-depth interview data and focus group discussions with the village head, BPD and village communities.By conducting in-depth interviews and focus group discussions, this study found that village funds in Beringin Jaya and Akeguraci Villages in Tidore Kepulauan District and Ake Jailolo Village and Bobane Village, West Halmahera District, North Maluku, were able to improve the status of villages from disadvantaged to developing villages, but these changes are not followed by an increase in welfare (Falah). This is because village fund programs are more focused on infrastructure development but have not been able to meet economic and social aspects of life, such as providing life skills, enhancing harmony, and independence. The main problem is that human resources are still low both in terms of education level and quality of expertise so that village funds are managed as is.This study recommends that village funds are effective in reducing poverty, the village government needs to prepare a village development blueprint (renstra) in the next 5 years with clear indicators based on village achievements and the amount of village funds received. Village governments also need to send village fund managers to attend training on planning and reportingvillage financialKeywords: village funds, index, empowerment, Falah, North Maluku

Sharia Financial Literation In Developing Sharia-Based Business For Rural Communities In South Sulawesi

This study aims to determine the understanding and public trust about Islamic products and Islamic banking and to determine the prospects for Islamic finance in rural business development. The methodology used is descriptive qualitative through FGD and data triangulation. The results showed that people in rural areas tit belongs to less literate and less of trust because some people only understand the Islamic banking products used and only consider aspects of the needs and virtues of banking service facilities. However, it indicates a bright prospect for developing a sharia-based community business with residents of the region who are aware of Islamic law and the demand for Islamic financial institution services by the community is increasing.Keywords: Literacy, Islamic Finance, Business.

Research And Development Of Organic Fertilizer From Banana Peels: Halalan Tayyiban Perspective

In modern agriculture, most of the biochemicals and inorganic fertilizer had been used for the plantation on the worldwide scale. Whilst, the issue of food waste had created concern for the global community because of its potential for pollution. In Brunei Darussalam, food waste has the highest percentage followed by paper and plastic. According to the Scientia Bruneiana, vol.17, no.2, according to the Department of Environment, Parks, and Recreations, 400 – 500 tonnes of waste goes to Sg. Paku landfill in Tutong District each day. This issue was raised by the people that prioritized the application of the Macro Organic Local which is the organic fertilizer derived from rainwater and food waste. They emphasize the concept of zero-waste and go-green to manage the problems of the polluted environment. Therefore, ‘Potilizer’ production that is based on the organic sources mainly from banana peels is to solve the problems of food waste and raise awareness to the community to reduce waste. ‘Potilizer’ aims to reach out to the farmers, entrepreneurs, and individuals to fully utilize organic waste and to be confident in its usage. The methodology used is by conducting some experiments on each type of plant-based on the research study from the existing information with regard to farming. The use of data collection is from the books, the internet, by interviewing the farmers and conducting the survey about natural fertilizer. The novelty of this product is by the application of the conservation concept and it will present as the first organic fertilizer in Brunei Darussalam to be commercialized at a very affordable price and good quality. ‘Potilizer’ has the opportunity to penetrate the market as it can benefit the farmers, entrepreneurs, agricultural school institutions, as well as for the house-gardening purposes to assist them in this field.