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All Journal El Dinar Media Trend: Berkala Kajian Ekonomi dan Studi Pembangunan Al Qalam: Jurnal Ilmiah Keagamaan dan Kemasyarakatan JURNAL PENDIDIKAN TAMBUSAI Journal of Humanities and Social Studies Jurnal Sains dan Teknologi Rayah Al Islam : Jurnal Ilmu Islam RESLAJ: RELIGION EDUCATION SOCIAL LAA ROIBA JOURNAL Jurnal Manajemen Pendidikan dan Ilmu Sosial (JMPIS) Dinasti International Journal of Economics, Finance & Accounting (DIJEFA) Quantitative Economics and Management Studies AL-FALAH : Journal of Islamic Economics EMBISS: Jurnal Ekonomi, Manajemen, Bisnis, Sosial Journal La Sociale JURNAL MANAJEMEN AKUNTANSI (JUMSI) Movere Journal Islamiconomic: Jurnal Ekonomi Islam Al-Tijary : Jurnal Ekonomi dan Bisnis Islam Mamangan Social Science Journal
Batubara, Maryam
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Religion Arts Humanities Computer Science & IT Decision Sciences, Operations Research & Management Economics, Econometrics & Finance Education Languange, Linguistic, Communication & Media Law, Crime, Criminology & Criminal Justice Mathematics Physics Social Sciences Other

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Journal : Dinasti International Journal of Economics, Finance

 1 
The Economic Independence of Islamic Boarding Schools From the Perspective of KH. Abdullah Syukri Zarkasyi and The Implementation with Ar-Raudlatul Hasanah Islamic Boarding School in Medan Saputra, Jaka; Batubara, Maryam; Arif, Muhammad
Dinasti International Journal of Economics, Finance & Accounting Vol. 5 No. 3 (2024): Dinasti International Journal of Economics, Finance & Accounting (July - August
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v5i3.2794

Abstract

The objective of this study is to examine the strategies employed by Ar-Raudlatul Hasanah Islamic boarding school in Medan in achieving economic independence and to ascertain the impact of this independence on institutional and community development. Adopting a qualitative research approach, data were gathered through in-depth interviews, observations, and document analysis, in accordance with the perspective of KH. Abdullah Syukri Zarkasyi. The primary findings indicate that Ar-Raudlatul Hasanah Islamic boarding school employs strategies, including the diversification of income sources, the establishment of business units, and the integration of internal and external resources in economic management. These economic independence measures have a positive impact on the development of pesantren facilities and the welfare of teachers and staff, while also facilitating the economic empowerment of the surrounding community through the provision of various entrepreneurship initiatives. However, a number of supporting and inhibiting factors also influence the implementation of these strategies. This study contributes to the existing literature on the economic independence of Islamic boarding schools and provides practical recommendations for other Islamic boarding schools seeking to enhance their economic independence.
Analysis of Sharia Stock Valuation Using The FCFE And Relative Valuation Methods Sector Listed on The Sharia Securities List Hanafi Hamonangan, Muhammad; Nurlaila; Batubara, Maryam
Dinasti International Journal of Economics, Finance & Accounting Vol. 5 No. 3 (2024): Dinasti International Journal of Economics, Finance & Accounting (July - August
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v5i3.2844

Abstract

The objective of this study is to analyze the intrinsic value of sharia stocks in the property sector listed on the Sharia Securities List (DES), utilizing two distinct valuation methodologies: free cash flow to equity (FCFE) and relative valuation. The stocks selected for analysis include PT Metropolitan Kentjana Tbk (MKPI), PT Mega Manunggal Property Tbk (MMLP), and PT Pollux Properties Indonesia Tbk (POLL). In this study, the free cash flow to equity (FCFE) method was employed to ascertain the intrinsic value of the shares. This was achieved through the consideration of free cash flow, which was subsequently deducted to account for expenses pertaining to working capital and investment. In contrast, the relative valuation method involved the comparison of the intrinsic value of the shares with financial ratios such as the price-to-earnings ratio (PER) and the price-to-book value (PBV). The aforementioned approach was informed by a fundamental analysis, which involved the examination of macroeconomic conditions, industry conditions, and company conditions. The data was obtained from property companies listed on the Indonesia Sharia Stock Index (ISSI) for the period 2019-2022. The results indicated that the intrinsic value of MKPI stock, as determined by the FCFE method, was Rp. 24,134. This value suggests that the stock is overvalued, given that the market price was Rp. 27,200. The PER method yielded the following results: The intrinsic value of the stock is Rp. 59,461, indicating that it is undervalued. The PBV method yields an intrinsic value of IDR 7,515, indicating that the stock is overvalued. The MMLP Shares are valued using the FCFE method, which yields an intrinsic value of IDR 4,857, indicating that the stock is undervalued as the market price is IDR 298. The PER method yields an intrinsic value of IDR 686, indicating that the stock is undervalued. The intrinsic value of the stock is IDR 893, indicating that it is undervalued. The PBV method yields an intrinsic value of IDR 686, also indicating undervaluation. The POLL stock is undervalued according to the FCFE method, with an intrinsic value of IDR 251. This is due to the market price of IDR 147. Finally, the PER method yields an intrinsic value of IDR 109, indicating that the stock is undervalued. The intrinsic value of IDR 109 indicates that the stock is undervalued. The PBV method yields an intrinsic value of IDR 214, which also indicates undervaluation. In conclusion, the FCFE and Relative Valuation methods can be used to determine the fairness of Islamic stock prices in the property sector. The data was obtained from property companies listed on the Indonesia Sharia Stock Index (ISSI) for the period 2019-2022. The results indicated that the intrinsic value of MKPI stock, as determined by the FCFE method, was Rp. 24,134. This value suggests that the stock is overvalued, given that the market price was Rp. 27,200. The PER method yielded the following results:
Implementation of Sukuk as a Solution for Economic Development in North Sumatra Pranoto, Jiko; arif, Muhammad; Batubara, Maryam
Dinasti International Journal of Economics, Finance & Accounting Vol. 5 No. 4 (2024): Dinasti International Journal of Economics, Finance & Accounting (September - O
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v5i4.3107

Abstract

This research aims to analyze the regulatory system for implementing regional sukuk as a solution for regional economic development in North Sumatra, to analyze the mechanism for implementing regional sukuk as a solution for regional economic development in North Sumatra, and to analyze what factors influence the implementation of regional sukuk as a solution in regional economic development in North Sumatra. The methodology of this research uses a qualitative study approach which emphasizes implementation of regional sukuk (sharia bonds) as a solution for regional economic development in North Sumatra . The data collection techniques used in this research were interviews and documentation. The results of this research are: (1) The regulatory system in implementing regional sukuk as a solution for regional economic development in North Sumatra, including: a) the existence of clear and comprehensive regulations, b) strict supervision, c) sustainability of the regional sukuk program, d) sukuk market development, and e) partnerships. (2) The mechanism for implementing regional sukuk as a solution for regional economic development in North Sumatra can be carried out starting from: a) preparation of regional economic development plans, b) assessment of project feasibility, c) sukuk structure, d) issuance of sukuk, e) use of data sukuk, and f) periodic evaluation and reporting. (3) Factors influencing the implementation of regional sukuk as a solution for regional economic development in North Sumatra can be: a) regulations and policies, b) regional financial capacity, c) availability of investment projects, and d) cooperation between parties.
Determinants Of Service Quality, Convenience And Costs On Satisfaction And Loyalty Communities In Sharia Pawnshops Cluster 1 Medan Syahputra, Zulian; Batubara, Maryam; Ahmadi Bi Rahmani, Nur
Dinasti International Journal of Economics, Finance & Accounting Vol. 5 No. 4 (2024): Dinasti International Journal of Economics, Finance & Accounting (September - O
Publisher : Dinasti Publisher

Show Abstract | Download Original | Original Source | Check in Google Scholar | DOI: 10.38035/dijefa.v5i4.3314

Abstract

Using a quantitative methodology, this study analyzes primary data from 10 Pegadaian Syariah AR Hakim Medan customers via questionnaires. Sampling methodology is the method that is used. Subsequently, route analysis and SPSS Version 25 software were used to process and evaluate the gathered data. Tests for instrument validity and reliability, statistical tests (determination test, partial test (t-test), and simultaneous test (f-test), and testing for classical assumptions (data normality, multicollinearity, and heteroscedasticity) were all included in the study. The findings of the study indicate that although mun'ah fees do not significantly affect customer happiness, service quality and convenience do have a beneficial impact on contentment. Customer loyalty is positively impacted by customer pleasure. The significance test findings demonstrate that mun'ah fees have no discernible impact on consumer happiness or loyalty. However, with a 95% trust level and a 5% mistake rate, service quality and convenience have a major impact on client loyalty via satisfaction.
Co-Authors Adlia Yuannisa, Rizka Ahmadi Bi Rahmani, Nur Al Masri, Anas Zahir Andiyanto, Sakti Ariska, Ella Batubara, Yennika Bi Rahmani, Nur Ahmadi Fakhri, Muhammad Hafizhan Fitri, Mulyana Gaja, Enita Indramayani Hafizhulluthfi, Iyad Hanafi Hamonangan, Muhammad Hasibuan, Indra Mualim Hasibuan, Reni Ria Armayani Hsb, Rahmad Raja Martua Jambak, Putri Andriani Marliyah, Marliyah Muhammad Arif Muhammad Lathief Ilhamy Nasution Muhammad Yafiz, Muhammad Munandar, Arief Najiyah, Chindy Jihan Nasution, Hastiani Nasution, Inayatul Widad Nasution, Juliana Nasution, Muhammad Idris Nasution, Rizka Nurlaila Okta Distira, Muhammad Feri Oktadistira, Muhammad Feri Pranoto, Jiko Rahma, Aulia Rahmani, Nur Ahmadi Bi Rahmi Syahriza, Rahmi Ramlan, H. Rangkuti, Laila Rahmayuni Samri Juliati Nasution, Yenni Saputra, Jaka Sirait, Frida Yanti Syahputra, Zulian Taufiq Taufiq Wati, Patma Yuni Lubis, Syafrina